# Bank Owned Rentals ?



## 68W30 (Sep 8, 2012)

what do we know about this trend and how does it affect us seems that it could be good in theory


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## BPWY (Apr 12, 2012)

Long as the nationals don't have their hands in the cookie jar it probably won't be too bad.


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## Splinterpicker (Apr 18, 2012)

68W30 said:


> what do we know about this trend and how does it affect us seems that it could be good in theory


Its called manythings but a FAS cluster fornication it is . Tenant occoupied is what they called it and it is a JOKE. Flat rate repairs like 600 for a hot water heater GAS to boot !. I had one thatEVERY TIME the tenant wanted hot water they had to light it EVERYTIME. The pricing was Terrible and I couild NOT get a professional plumber to even stop laughing when I told them what the national wanted to pay. Sure a contractor can put in a hot water heater but hwere it is AGAINST CODE if you are NOT a plumber. Needless to say it was a great opportunity to piss off FAS and deny work because it did not pay. 

The properties are not necessarily tennant only it could be getting rented back to the former owners... Does this HELP ??


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## BPWY (Apr 12, 2012)

I think it was in '10 or '11 that I saw some numbers for such a thing. 

You are right, the ONLY person making any money is the nationals. 
Kinda like it is today doing P&P.


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## Racerx (Aug 29, 2012)

68W30 said:


> what do we know about this trend and how does it affect us seems that it could be good in theory


I heard Altisource was going to get involved with this and we tried to get on board as a GC, and got a huge run around (submit a power point presentation, "we need more photo's" etc.) afer reading the reply's I'm glad we did'nt try that hard ...


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## Wannabe (Oct 1, 2012)

Tenant Lease is the term. A few years ago we submitted a price list for all the services that were required. The pay was absolutely ridiculous and we said NO. The contractor who did get awarded the jobs quit within the first 3 months. Got tired of having to unclog toilet at 2 a.m. when the slob flushed wads of t.p. and it overflowed. You had to guarantee 24/7 availibility within 1 hour of tenant call. The call center would call 1:15 after the call-in to verify you were there and if not the pay was forfeited and NO excuse for bad weather OR you couldnt gain access to condo units etc etc. Another cluster *!


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## GTX63 (Apr 12, 2012)

Had a similar offer made to us with all sort of binders and time requirements. I had a large portfolio of rental houses and multi family units so I know the work involved and the ROI. There is no chance in Benghazi I would have someone dictating to me how it should be done for the money they offered.


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## 68W30 (Sep 8, 2012)

thank you friends and patriots


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## 68W30 (Sep 8, 2012)

CONTRACTOR PRICE LIST 

CONTRACT SERVICES PRICE
PRICING EFFECTIVE 3/16/2012 
Appliance Removal - (Needs Authorization) Bid Approval
Debris Removal - (All debris including hazards) $15.00 per CYD

Trip Charges - Are applied when you go to the property and there is no work to perform (note: do not charge for a trip when work is complete) $10.00

Locks - $15.00
Locks - Padlock $5.00
Locks- Hasp $5.00

Grass Cuts - (Up to 5,000sqft) $15.00
Grass Cuts - (5,001-10,000sqft) $20.00
Grass Cuts - (10,001-15,000sqft) $25.00
GrassCuts - (15,001-25,000sqft) $30.00
GrassCuts - (25,001-35,000sqft) $35.00
GrassCuts - (35,001-43,000sqft) $40.00
Grass Cuts - (Over 15,000sqft or Over 1' Tall entire grass - require a Bid Approval) Bid Approval

Janitorial (Initial and Monthly) $30.00

Pressure Test (as separate client order) $20.00
Thaw Property - (Bid to replace water heater or boiler damaged from freeze) Call for approval
Winterization - Dry $30.00
Winterization - Wet/Radiant Heat $60.00

Install Dehumidifier $195.00
Install Sump Pump $120.00

Outlet Covers ea $2.50
Switch Plates ea $2.50

Repair Pipe Separation $15.00

Cap Pipe $7.00
Cap Wire $2.00
Cap Toilet Bid Approval

Tarping - (Roof or Pool) Bid Approval 

Install - Hand Rail Bid Approval
Install - Security Door $60.00
Pump Basement - (Must provide pictures of yard stick/tape measure to show depth) $55 per ft
Boarding Windows ea - (Small 2'x2') $25.00
Boarding Windows ea - (Medium 3'x3') $35.00
Boarding Windows ea - (Large 4'x4') $45.00

Allow Access - 1st Hour $15.00
Allow Access - Additional Hours (Up to 3 Additional Hrs total) -According to work order $10.00

**Work Order Instructions supersede all other instructions 
**Call Office for Approval to Proceed on Unsecure Properties/Active Leaks/Basement Flooding 
**Bid Approvals - Anything not on this List requires a Bid Approval 
**Your Bid Approval Price - Get in Writing/Email 
**Trip Charges - Only paid when work cannot be completed and billed for at a property 
Signature_____________________


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## BPWY (Apr 12, 2012)

Its like these guys WANT to hire the lowest hacks available.

I feel insulted just reading that drivel.


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## BPWY (Apr 12, 2012)

BTW those grass prices are half of market value in my area.


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## Freddie (Jun 13, 2012)

The plus side is I can turn a profit on the outlet covers.... Nothing else


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## BRADSConst (Oct 2, 2012)

68W30 said:


> CONTRACTOR PRICE LIST
> 
> CONTRACT SERVICES PRICE
> PRICING EFFECTIVE 3/16/2012
> ...


I'm not even going to get out of bed to pump a basement @$55/ft. I just pumped 9" of category 1 water Tuesday for $240 net. I let them talk me down from my original bid because I was at the property for other services I could do while the pump was running.


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## hammerhead (Apr 26, 2012)

68W30 said:


> CONTRACTOR PRICE LIST
> 
> CONTRACT SERVICES PRICE
> PRICING EFFECTIVE 3/16/2012
> ...


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## GTX63 (Apr 12, 2012)

It may say Contractor's price list but it isn't mine. Every few months or so some of our brokers or locals will request a price sheet from us for standard work, so we update ours and send them over. I am at the point (either hardened from years of this crap or maybe my unsociable side is just growing) where I don't accept any price sheets anymore.
Send an electrical or plumbing line item price list to your local union hall and see what happens.


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