Broker's Corner with Tanya Chappell October 2020

Secure Investments Realty and Management

If you keep up with my posts or own rental property, you probably are aware that our season heats up in March and April with Pre-leasing then moves into May through August of lease ends and people moving or renewing leases. Then comes days of getting all those properties inspected, cleaned, painted, and maintenance completed and moving in new tenants. Every year brings its own set of challenges. We had some changes in vendors and training them on our system, which is always fun when your right in the thick of it. But this year, we also had to deal with Covid-19, which put a whole new spin of challenges in our paths.  

 Looking back, I think one of the biggest challenges was the short fuse that everyone seems to have right now. Yeah, I get it. Being cooped up and scared about finances is sure to get most people's feathers ruffled. When you do property management you know it is just part of the business to have some disputes regarding damages at move out time.  

There is a good amount of communication when we have tenants vacate. We show proof of damages with before and after pictures, videos, and copies of paid bills which usually resolves disputes right away. Sometimes I will need to go so far as to meet the tenant in person and review the before and after pictures and videos with them before resolving the dispute. It's something that I totally do not mind doing because it ends up with a much better understanding and acceptance of the charges and preserving the relationship. When you can meet face to face and see sincerity and honesty in the eyes, it can allow that heart to heart communication to happen and help resolve the issues.  

This year COVID, and likely the rioting's in the name of equality, complicated this process further. It seemed no amount of proof, discussion, or negotiating would qualm the frustration some tenants were feeling and so our Google Reviews got to absorb the brunt of their frustrations. This does not feel fair, but it is the nature of the business and is precisely why a lot of Brokers steer clear of Property Management altogether. Just a few upset tenants can really bring your ratings down and in this day and age of researching reviews before hiring a company, it can hurt your business. Thankfully most of our reviews are good and we still maintained a high score, but it does sting to have happy tenants turn on you when they have to pay for their damages. Being a property manager can sometimes be a thankless job as your stuck in the middle between the owner and tenants' pocketbooks. Not a fun place to be. So now you know what I mean when I say Ahhhhhh October!!!!!  

We were supposed to be in London right now celebrating a friend's 50th birthday but COVID prevented that. Likely for the best because we have quite a bit happening ourselves with buying, selling, and fixing up a new investment property. We finished our Hawthorne Lake home flip, and it is set to close this month. I can't wait to show you our before and after pictures and video and the financial breakdown, but I don't want to jinx the project so I will wait till it closes. We also bought a house to hold long term here on the river. This one will be an easier fix-up before looking for a long-term tenant. I was going to use this home as an Air BnB short-term rental, but I think we will just go long term with it for now. I just don't have it in me right now to experience multiple move-outs in a month so close to home!!! Yes, I would probably make significantly more money on it, but I need a break. Maybe next year.  

 The beauty of living on the river is the calmness and peace of mind it can bring. There is something about the energy from the moving water and the surrounding nature that can put you at ease. I know I am so very fortunate (and smart) to have made this move and live the "River Life". I recently had a nice long 4-hour paddle with my sister Sandra and daughter Lauren. We put in on the Itchetucknee River and floated down into the Sante Fe' River and then down the Suwannee River to our house.  

 
It was a cool 60 degrees when we put in and warmed to the mid-'70s. Perfect weather for paddling. Well, we mostly floated...... we did paddle some, but I have made the trip in under 3 hours. We came upon a family of Otters and I managed to quietly and slowly float up to them and was able to get some really awesome video of them playing, eating and getting mad at me for being up in their space. We plan to do another paddle soon and take advantage of this perfect fall weather.  

I also thought I would share this video of our amazing four-wheeling adventure in the San Juan Mountains of Southwest Colorado last month. It was really exciting with its one-lane roads right on the edge of the mountain and having to navigate around the occasional other vehicles. There was a point when we were headed straight up a trail with a steep drop off where I literally climbed right out of the vehicle as Jeff made another hairpin turn. I did speed up some areas of the video to give you an idea of how crazy it felt in person! Enjoy and Happy October!  

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