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A quick update for residential investors and owners from WILMOTH Group. Providing creative solutions, strategy, services and support in the residential investment community. |
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July Notes
Last months notes covered our property standards regarding air conditioning. I did hear from several owners who stated that yes, they agreed, but their properties did not have air conditioning and we had not previously mentioned the standards.
The referenced Standards were created about two years ago as a way to communicate to potential WILMOTH owners a base-line of what we expected to provide our residents. The idea was actually borrowed from an Austin Texas property manager (which has nothing to do with air conditioning). This manager and I discussed the need to ensure that a property manager and owners had an initial meeting of the mind regarding basic expectations. Importantly, these include what a tenant should expect when renting from us. I liked the idea very much as it addressed several issues we had encountered through the years. So, we designed our own list of standards.
If you are curious about these standards, I am always open to discussing them. Would enjoy feedback if you think something is excessive, or if we are missing something important.
Indianapolis Landlord Registration Reminder
One of our owners shared with me a reminder letter he received from the City of Indianapolis regarding renewing his property registrations under the Landlord Registration laws. When the law was passed a couple of years ago, most of us thought there was going to be an automated renewal reminder. I dont know of anyone who has received one of those yet. If you have please correct me. It appears that a letter with a threaten of a fine, is what you may receive.
If you own Indianapolis real estate that is not owner-occupied, and you have not registered under the Landlord registry, you need to take care of this. Here is a blog post that I recently updated with some new information on how the registration is working out from my own experiences using it. It will cost you $5/property/year so have a credit card handy. Follow my instructions to identify your local property manager (hopefully that is WILMOTH) so they are first informed of citations.
I hope, if you are located in the United States you will enjoy the celebration of our Independence Day on Tuesday. |
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Thanks for Reading!
Joel Wilmoth
WILMOTH Group
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| "We hold these truths to be self-evident: that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness."
--Thomas Jefferson
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12 Simple Questions to Pre-Qualify Applicants Wouldn’t it be great to just show property to ready, willing, and qualified people? Let me share with you twelve easy questions to pre-qualify applicant when your next inquiry occurs. Read More |
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Cash Flow Special!
Three bedroom, one bath, Irvington area with tenants in place! Gross rent yield of 15.6%! All the work has been done on this one. WILMOTH management in place. Comparables provide analysis that this is selling at a 18% discount to value! Lets talk about how you can add this one to your portfolio. |
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Anytime Reporting!
How easy is it for you to monitor the performance of your investments? The WILMOTH system offers an investor over 20 different reports on-line to allow you to see your investments in many, possibly new, ways. Learn More. |
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| | | Questions? Own a property that is just not performing? Ready to increase your portfolio? Or just want to discuss anything? Let us know and we will get right back to you! |
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WILMOTH Group Residential Real Estate Investment Brokerage | Management | Property Services |
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