Jimmy and I want to thank you, Cindy and Jamie for all your hard work, dedication and efforts this year. We understand it is no easy task to turn around a large apartment complex like xxxxxxx, but we believe you did an outstanding job to get it where it is today. We also want to thank you for your commitment and professionalism through the rough patches of this process. We are more than glad to have you on our side. We both wish you and your family continue growth and success together with us for 2018. Merry Christmas and Happy Holidays!
Message from Meghan:
I have worked with a variety of Property Managers with various properties in three states and in my humble opinion, Dick Rosen is THE BEST. He is truly a pleasure to work with. He embraces the profession of property management wholeheartedly.
All the nightmare stories you hear (and I’ve experienced elsewhere) with Property Managers will not happen with Dick Rosen. He is a consummate professional, he is 100% ethical. He treats his tenants and owners with equal respect and he will not nickel and dime you. He is responsive to everyone and attends to the smallest detail with grace and energy. He is adept at the details AND the strategic thinking necessary for success in this business.
I feel like our interests are aligned. He has wonderful systems in place. I have worked with him for three years and enjoyed every minute. He defines the standard for Property Management for me and makes it very difficult for me to find others in other states who measure up.
You are the best property manager ever and not just because of the recent owner’s distribution. I appreciate your attention to detail and your strategic thinking and I love that you just deal with broken keys…..
No thanks needed. I think all the thanks are due to you. You are a truly amazing property manager and I hope you know how much I appreciate you. I really know how hard the job is and I do not take you for granted.
I wish you and yours a wonderful and prosperous New Year!
I’d like to call out my property manager in Phoenix @Dick Rosen. The guy is great. I actually saw his profile here on biggerpockets and gave him a call before I bought my first investment property.
He keeps me well informed of whats happening, promptly responds to many of my calls and emails, and goes above and beyond. He is very detailed with all expenses, scanning the actual invoices and always offering multiple options to get a job done. Comparing that with my experience on my other 4 plex in Tucson, it was easy to tell that I found a guy who knew what it took and what was expected.
Dick Rosen is a very good property manager. I have to say I got extremely lucky when I found him here on Bigger Pockets. I own one property in Phoenix which Dick manages, and another in Tucson which is managed by a different company. Let me just say it is a world of difference.
Dick lets me know everything that’s going on almost immediately. He was able to get my vacant unit rehabbed and rented out quickly, and for much higher rent than all of the other units. He always responds quickly to all of my inquiries and his management fees all seem to be fair, and actually are cheaper than a lot of the PMs in the Phoenix area. As I am a new landlord, he suggested smart ways to increase the cash flow like charging the tenants for the city sales tax, something the prior owner did not do.
Email from Meghan K. in Virginia
“I LOVE your record-keeping
I just wanted to tell you how much I appreciate your book-keeping, communication. (You blow my Jacksonville PM out of the water!lol)”
My pleasure to provide this, Dick! – Bill A. in California
“I’m very much enjoying working with Dick Rosen, property manager. He’s professional, efficient and a clear communicator. Also, very knowledgeable on all matters real estate related. Highly recommended!”
From Bruce M. in Arizona
“I have worked with Dick Rosen as my property manager for just 6 short months, but what a difference! I have had great communication, always. Rosen properties filled the one vacancy I had in minimal time. All rents have been collected in a timely manner.
I could not ask for better service, any time I call or email a question I have an answer within 24 hrs. Sometimes within 10 minutes.
Again, hands down best Property Management Company I have found.”
From Leo D. in Massachusetts
“Hello Dick, I am more than happy to speak on your behalf. Mr. Rosen has been a great property manager for me. He has always taken care of maintenance problems right away, and my tenants were always happy. I would recommend Mr. Rosen to any one any time.
This post was taken from Nate Armstrong with Midwest Equity Partner. Nate has always impressed me over the years and I found his post to be very well aligned with how we operate here at Legacy Home Management so I felt inclined to share.
I’d like to talk about eviction free landlording. Now, we’ve tried to outsource property management to other companies. There are some good ones out there, but there are really bad ones too — no different than anything else in the world. We found that third party property managers weren’t managing our houses as well as I wanted them to. Furthermore, they weren’t as dedicated to placing the best tenants that they possibly could, and all too often we wound up
footing the bill when we had to evict their carelessly placed tenants. We didn’t want any more evictions, so we decided to take management in house, and since then we’ve had zero evictions. A lot of people ask me how that’s possible, and I tell them that it boils down to three key elements: renovation quality, pricing, and screening.
Number one, it’s about the quality of the product that you produce. That means making sure your renovations are done well and thoroughly. Now, I know a lot of people like to come in and only do the bare minimum on rental-grade renovations, which is fine for them, but not for me. We do the carpet and paint, obviously, but we also replace the appliances, smoke detectors, fixtures, GFCI outlets, and add all the cosmetic touches you can imagine — every detail it takes to make the house cozy and appealing.
We also tend to the mechanicals. Tenants are getting wiser nowadays about how much their A/C & heat costs, and they want to know that their house has a new furnace or A/C unit, or at least a recently upgraded one. They want to know that the hot water heater’s going to be reliable. They want to know that
there are no roof or window leaks. When we do our renovations we adhere to the highest standards and get them done right. We still get renovations done at a great cost, though, because we buy materials at a dramatic discount thanks to how many we buy! Product quality is central to attracting and keeping a good tenant.
The second thing is the pricing. I know a lot of people like to stretch and get as much rent as they can, sometimes even at above market value. Our superior products rent relatively high, but we never stretch past what’s fair for their markets. When we charge too much for rent we stress out our tenants who then have to strive for the rent every month. Keeping rent fair and affordable improves our tenants’ quality of life and disposes them to stay happy and put.
The third but most important part of eviction free landlording is screening thoroughly. There are a lot of books out there that say the three things to scrutinize are credit, income, and landlord and personal references. Those are vital, but they’re not enough on their own. When you’re checking income you want to do it two different ways. Don’t only see that the applicant makes three times as much as their rent, but also check their debt to income ratio as well. Nowadays it’s so easy for people to go out and get credit cards, extra cell phones, and car loans that oftentimes they have way more debt than they can afford. Debt affects their ability to pay rent, so please check applicants’ debt to income ratio and see that they’re at good sustainable levels.
An important part of the thorough screening process is checking landlord references. You have to dig deep and make sure that you’re really finding out who you’re going to let live in your house. Our team calls every reference — if we don’t get voice verification then we’re not going to accept the applicant. Maybe a month ago one of our leasing agents called me to say he was very upset because someone on our team didn’t accept an application that he thought should have gone through. He said it had been denied because the applicant hadn’t provided a third reference, purportedly because they’d lived with their parents.
I went and talked to Kate, who’d personally denied the application, and asked for her story. Kate told me, “Well, Nate, they said that they’d lived with their parents during that time, but I noticed on their credit report that they had delinquent utility bills then. Anyone that has delinquent utility bills probably wasn’t living with their parents, because parents’ typically don’t put their utilities in their kids’ names. So, I researched the address where the utilities had gone delinquent and I saw that it was actually owned by an LLC. I found the owner’s phone number and called him to ask about the applicant. The owner confirmed that the applicant had in fact lived in his rental house, that they were a sloppy tenant, and that he’d have evicted them had they not moved
out first!” I was impressed with Kate’s work and I went back to the leasing agent to tell him that he had not dug hard enough! This two layer approach to scrutinizing tenant applicants is thorough and takes a little longer, but the value it adds is indispensable.
That’s our secret to eviction free rentals. I hope that you can go out there and replicate our approach so you can avoid evictions too, because evictions are expensive and you don’t want them!