Access Property Management Group, LLC • Grand Rapids, MI (616) 301-9450

Grand Rapids Access Property Management Group – Tenant Termination Forms

Grand Rapids Access Property Management Group – Tenant Termination Forms

Hi, this is Eddie with Access Property Management Group. Today we are talking about what to do and what notices to send if your tenants don’t pay. There are two forms that you can send out.

The first one is a “Demand for Possession Nonpayment of Rent.”
This is a 7-day notice that can be sent anytime during the month. In essence the tenant has 7 days to pay or vacate. If the tenant pays within the 7 days they can stay in the unit. After 7 days of non-payment you can file for a court date in your local jurisdiction.

The second notice is a “Notice to Quit Termination of Tenancy.”
This is a 30 day notice that can be sent at anytime if the tenant breaks the lease or you want them gone after a lease has expired. After 30 days if they are not out you can file for a court date.

When filling out these forms always add “and all other occupants” in the “To” box so that it covers everyone in the home whether they are on the lease or not.

Both forms have two pages. One’s for the tenant and one’s for you. Make sure you fill them out correctly, send it off in the mail and hopefully you’ll get paid!

If you have any other questions, give us a call at 616-301-9450 in Grand Rapids or 269-220-6033 or www.accesspmgroup.com

Thank you

Property Management Cost and Opportunity in Grand Rapids

Property Management costs can be a controversial expense among property owners. Ultimately, the decision to hire a property manager is a personal choice and the reasons which motivate the decision are diverse.

As with many big decisions in real estate investing, there is usually a catalyst moment or a realization which causes someone to seek out a great property manager. My experience has shown me that most of these decisions are made so that the owner can better use their own personal time.

By identifying and acting upon the best use of YOUR time you will quickly improve your quality of life in a number of ways – stress reduction, more moments of happiness, attainment of personal goals – to name just a few. This also has a positive spillover effect on those closest to you.

If you would like to read more about this topic, please read my full blog post here on Bigger Pockets.

Furnishings and Tenant Leases

Today we are at a house and we are getting ready to lease it. The owners decided to include some furnishings with the lease and we are just here to document those items to make sure they get in the lease, to make sure we have a good record of them at the time the tenant moves out to ensure that none of those items disappear.

So we are just taking pictures and we are going to document them in the lease. We are going to write it all out…how many items, what kind of items and also keep the pictures with the lease so that the tenant is on the same page as we are.

If you have any questions about this or would like some more information about leasing your home, you can contact Access Property Management Group at 616-301-9450 in Grand Rapids or in Kalamazoo you can call 269-220-6033.

Remodeling Tips to Increase Rental Income on Your Property – Management Education in Kalamazoo

When you’re preparing a house for the rental market, there are a couple of things you can do that are inexpensive but will have a lot of value for renters. Doing so will help you increase your rental income because with just a few remodeling details, you can charge more monthly rent. Today, we’re in a house in Kalamazoo that I am rehabbing in preparation to rent out. read more…

How to Complete a Quick Tenant Turnover – Grand Rapids Property Management


A quick turnover is important when you are between tenants in your rental property because it reduces the amount of time that you’re not collecting rent. Have a plan in place for when one tenant moves out so you can get the property cleaned up and back on the market in a matter of days. Today we’re looking at a one bedroom, one-bathroom unit that was recently vacated in the Heritage Hill area in Grand Rapids. read more…

Private Placement Real Estate Investing: What to look out for : How to Vet Out an Investment

We’ve talked about what a private placement is and the benefits of investing in one. This blog will focus on what to watch out for and how to examine an investment opportunity closely. 
Once again, we are not providing legal or tax advice. We ALWAYS encourage you to contact a trusted professional for advice on the legal and tax aspects of Private Placement Investments and to look over any documentation involved.
Who is the team? Who are you investing with?
The team is one of (if not the most important) aspect of the deal. Some of the people you will want to do your due diligence on is the syndicator, their team of advisors, and any other managing partners in the deal. Research their track record. Google their names. The person you will have the most contact with will be the sponsor. Set up an interview to learn more. What kind of experience do they have and what story has it told? What do they have to gain, what do they have to lose in this deal? Do they have skin in the game (this doesn’t always mean money)?
Why is the sponsor presenting the deal?
One reason may be that the sponsor is out of their own funds and are now creating opportunities for others to continue to invest. If a sponsor is out of money, it may not be a bad thing. They may be really great at finding and creating opportunities and are leveraging their experience and skills to continue to invest in deals. Do they have a passion for the deal? What is at stake for them?
Not every deal is a good deal-what is your return?
Just because the deal is a private placement, you know the team and have vetted the documents does NOT mean you should forgo all your goals and invest blindly. Always stick to your investment goals and plans. Understand the returns and how they will be paid out. Know what the investment is and get advice from TRUSTED advisors.
Where does the sponsor and team get paid?
This is an important question. It’s also an answer that must be disclosed. A good deal will be set up to reward the sponsor for their hard work when the deal is made, but will also insure the sponsor has a vested interest in the deal continuing to succeed. The tricky part is that this can be accomplished in a MULTITUDE of pay structures. This pay structure must be disclosed to members of the team. They may include all or some of the following: broker fee, Promotors fee, % of return, cashflow, fee paid upon sale. Some questions to think about when discussing the pay structure… Does the sponsor get paid when deal does well and paid more as deal does better?  Are they only paid up front? Are they paid along with investors? Are there any upfront fees? Upfront fees are not a bad thing, but they must be reasonable.
Have you read the documents?
READ THE DOCUMENTS. Yes, they are long. Yes, they are legal and boring. But you want to invest your hard earned capital into this, right? Don’t be foolish, read the documents. Then after you have read them, have an attorney and even a CPA review them for you. We can’t stress this enough. Know what you are investing in, understand the deal, know the tax implications. There is always some risk involved in any investment, you won’t know this risk if you don’t look over the investment clearly and completely.
This ends our series on Private Placement Investing. If you missed our first two blogs about what a private placement is and the benefits of investing in one, click the links and check them out. If you are interested in learning more about private placement deals, email us at info@accesspmgroup.com.

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