Snakes, rats and reptilian squatters: single family rental investors get a rude awakening as landlords
They have to deal with repairs and issues at hundreds or thousands of homes.Mendy Seegar, a construction consultant to single-family-home landlords, opened an email earlier this year to find an odd request: to deal with a snake infestation.
Seegar said that it took a while to eradicate the pests but that the work is almost complete on the home. While the infestation was the worst Seegar said she'd seen in the more than a decade she's spent in the single-family-rental and bank-owned-property industries, it's certainlyin a region that's become enormously popular with real-estate investors in recent years. She said she's also dealt with horses, cats, dogs, and many other less savory critters.
"No one focuses on operations until liquidity dries up," added LeMaistre, who helped pioneer the single-family-rental industry as an executive at Colony Capital and Progress Residential. In January, its management skills were put to the test by some unwelcome squatters in a rental home in Tampa, Florida: iguanas.In Florida, when the weather rapidly turns cold, the reptiles that can be as big as 15 pounds often fall out of trees. At this home, which had recently been inspected, iguanas appeared to have dropped onto the roof and then found their way into the attic through a tiny hole, a Divvy regional operations manager said.
It turned out the vendor had accidentally gone to the wrong property, ostensibly fooled by the for-sale sign. The property manager said it was quickly determined to have been an honest mistake, giving the homeowner and the vendor a good laugh.Maintenance workers themselves must be managed
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