 myob (by 6x6 [TN]) Aug 5, 2020 5:40 PM
 myob (by myob [GA]) Aug 5, 2020 5:59 PM
myob (by 6x6 [TN]) Aug 5, 2020 6:56 PM
myob (by myob [GA]) Aug 6, 2020 5:57 AM
myob (by 6x6 [TN]) Aug 6, 2020 8:47 AM
myob (by 6x6 [TN]) Posted on: Aug 5, 2020 5:40 PM
Message:
myob, I was wondering if you used a %, like Brad uses 2.9%, for your rent increases or if you just come up with a $ amount?
Do you use the same method across all properties?
How do you arrive at your # or $ amount?
Thank you for your time and wisdom. --70.158.xxx.xx |
myob (by myob [GA]) Posted on: Aug 5, 2020 5:59 PM
Message:
6 bye my rent formula is based on tenant has been in property. We don't have long term tenants. The first year we do regular rent based on what we did upgrading prior to renting to them. The first year renewal is based on other listings--. So a 30 or 50.00 increase. 3rd year is usually same increase or no offer to renew at all-- M2M at 100 to 200.
6Bye we can't have all the leases come due the same time. We take July off and try not to have any vacancy's Nov or Dec. So we've take 12 months down to 9 to lease out 63 properties. I have a lease renewal calendar with usually 6 property's renewing. The 6 are divided into 1st year for 2 of them 2nd year for 2 and last 2 tenants are on third year. Again no long term (I do have one long term though) She lives in my lake house that we built 4bdrm 2 bath. Her and her boyfriend. Anyway the vacancy's I have now-- I've hired a big crew to really update them-- rents going up 225 to 250 from exiting tenants. You can't do that without upgrading and updating. --99.103.xxx.xxx |
myob (by 6x6 [TN]) Posted on: Aug 5, 2020 6:56 PM
Message:
Thank you myob. --73.120.xx.xxx |
myob (by myob [GA]) Posted on: Aug 6, 2020 5:57 AM
Message:
your welcome. I know you didn't ask but --- I have several properties that are on the same street or neighborhood (subdivision) I try to have those leases expire around the same times. So when crew gets to an area there not driving all over town to next renewal work job. Also when it comes to showing homes we are in the area-- either manager or workers to let people walk through. My crew forman has leases.
--99.103.xxx.xxx |
myob (by 6x6 [TN]) Posted on: Aug 6, 2020 8:47 AM
Message:
Thank you myob. That makes since and would be much more efficient. --73.120.xx.xxx |
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