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Real Estate Day: Brian Dunn on Tenant Management and Property Management

February 26, 2014
Our guest today is Brian Dunn, Owner/Broker of Pruett Realty located in Ocean Beach 619-222-0316
We were also joined by Drew Orneleas.

Basic process with a tenant that doesn't pay:
3 day pay or quit
Contact legal professional.
Typically, post 3 day notice, try to serve directly to tenant OR post and mail.

Pruett usually gives a 3 day grace period and then starts phone calls on 4th 5th day, still no rent? then 3 day notice.

Hire a professional to manage your rentals. Do not handle yourself. Just takes one bad experience to account for 3 months of rent you won't get - possibly. Align yourself with a team to help you manage.
Helps to be a 3rd party with emotions removed.

Bryan asked, "What is the longest you've seen someone stay in or heard about - the horror stories...?"
Brian said he's heard of some that were up to months and months. Best to have have a property manager. Don't mess around with this.

His firm filters through the potential problems and problem tenants with their application process. They tend to drive away tenants that would be prone to playing games on the rent. They do not permit a potential tenant to provide their own credit reports - they can be false. Since then, it's a company policy to produce their own credit reports on the applicant. Bryan Garrity cannot say enough positive about Pruett Realty's property management services.

Here's a poll: have you updated your IOS lately? Angie admits to being a coward and Bryan HATES Windows 8 and wants 7 back!
We had a conversation on apps. Uh, you cannot handle all of your real estate services with Apps. Or you can, good luck! The apps don't have the experience of the market, experience, etc. They are programmed for black and white.
FSBO (For Sale By Owner) will give it a shot, use the apps and then curse the process because it went SOO bad, not just for them, but for the buyer. Think about just one word, "DISCLOSURES." Without the seller being accountable, they may not mean to, but they could forget to disclose MANY items that can be disastrous. 

Be careful what you count on for apps when it comes to your home.
Uh - ZILLOW - It's not always accurate, it's inflated. Be careful. Go by MLS - that's where the agents/brokers have to have accountability.

Wouldn't you want someone helping you that goes through ongoing training and must in order to stay licensed?