BDF Realty’s Blog

  As a Charlotte property manager specializing in lease options (rent-to-own and rent-to-sell), we get many calls from home sellers “exploring their options” about their vacant properties (unlike Obama, my puns are typically not intended).  So, as a public service, I’ll run through the available options:   Strategic default (I think this is what it is being called): Stop...

Every client we’ve ever had has wanted as little vacancy time for their rental as possible.  Zero days are optimal; every day after zero winds up costing them money in utilities, mortgage payments, and maintenance.  Not wanting to lose any money leads to a mentality of getting the home on the market as soon as possible, regardless of condition and resident situation.   So some clients...

We sometimes take over management of homes that have been treated in, diplomatically-speaking, less than desired regard.  It’s frustrating for the owners (and the property management company), especially in difficult economic times when cash is scarce.   The purpose of this article is not to talk about the root cause of this destruction (usually poor tenant screening), but rather the...

I don’t find myself being amazed at things very often, but I have to admit I was taken aback when I saw a large property management firm change their application fee from $25 to $200.   My initial thoughts were, “who is willing to pay that?” and “how can I justify charging that much for a rental application fee?”   I don’t know why they changed their rental application fee, but I...

Unfortunately, I’m yawning as I’m writing the title of this article. I’m not sure how to jazz it up a little (maybe “Lindsey Lohan falls for property manager during rental walk-through! Then she heads back to rehab.” I’m intrigued at least.

Perhaps the next “big thing” in rental fraud is high-jacked rental house ads. We just started managing a property and were surprised when potential tenants started contacting us about a different Craig’s List ad on the same house (at a much lower rental rate); they were wondering which of the Craig’s List ads for this rental house was legitimate.

It reminds me of one of my high school friend’s patented lines when he would see one of us wearing an ugly shirt or some God-awful hat, “I didn’t think there was a possible way for you to get even less girls, but you may have found it.” To extend this wisdom to the real estate industry, if real estate agents didn’t think there was a possible way to do even less brokerage business, FHA may...

The definition of insanity is to do the same things over and over again and expect a different result. Is this what is happening with all the vacant homes still being listed for sale (that shouldn’t be)?

Another popular question I hear from prospective clients is: PC: “What’s the difference between rent-to-own and rent-to-sell?” Us: “There is none!”

Potential clients of ours ask, “Why do you charge a “Realtor Fee” of 5% or 6% when a rent-to-own tenant buys our home (rent-to-sell)? Some of your competitors provide the tenant, keep the upfront option fee, and then let us manage the property. We then only pay the attorney fees when the tenant buys.” We answer, “So you don’t experience something akin to the banking crisis.”