Shopping & Retail, Property M

2021/05/21

Shopping & Retail, Property Management Company, And, as Lucy will probably discover, the same will hold true for any damage the tenant might cause for the duration of the tenancy; if Lucy presents a do-it-yourself invoice in court, chances are very good that the court will not accept it as legitimate. 4. Any corrections or modifications to this data can only be made via the SBA. endobj For Chicora Long Term Rentals LLC, the calculation used to estimate payroll costs is shown below: Situations may exist in which it may not be accurate to estimate a PPP recipient's payroll expenses based on the amount of PPP loan received. Business Service, NAICS code 531311, Business Age: x[YoH~7 l d3h7;%RaoU5Ix\ `E:7^Yow?_?L). Have FederalPay.org's open data tools been valuable? Real Estate Company,

Business Service, Business Service, Real Estate Agent, Nationwide, 35,973 businesses in the "Residential Property Managers" industry received a total of $3.03B in PPP loans. Tracking the income and expenses for Lucys rental property isnt just a good financial habit for her to build its the law. Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components. <> endobj This estimation assumes that the PPP recipient applied for the full amount for which they were eligible, and no other variables affected the loan amount received. stream Estimations for informational purposes only. 11 0 obj 14 0 obj Chicora Long Term Rentals LLC in Myrtle Beach, SC received a Paycheck Protection Loan of $69,722 through The Conway National Bank, which was approved in April, 2020. 10 0 obj <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 18 0 R] /MediaBox[ 0 0 612 792] /Contents 17 0 R/Group<>/Tabs/S/StructParents 1>> <> Team McIntosh, LLC Realty ONE Group Dockside, "I owned a investment unit with Chicora generating great passive income to me. endobj The cost of choosing the wrong tenant is steep in terms of time, money and, in some cases, legal difficulties. xO6+c2-OTJa-W{`0n-? ?!u9>JI j b 1cfO 2o!/I2`f,ef' 1B8/;W[$I>}T^$u/Kee;=}QO3ean,n)Va8j Zn30U' 1. Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only. bryan myrtle dr beach apartments 3 0 obj This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. box 50281, Myrtle Beach (SC), 29579, United States, 4061 Belle Terre Blvd, Myrtle Beach (SC), 29579, United States, 4336 Waccamaw Blvd, Suite B, Myrtle Beach, SC, 4320 Waccamaw Blvd, Myrtle Beach (SC), 29579, United States, 820 Oxbow Dr, Horry (SC), 29579, United States, 3824 Business St, Myrtle Beach (SC), 29579, United States, Servicing the Grand Strand Area, Myrtle Beach (SC), 29579, United States, 550 Forestbrook Rd, Myrtle Beach (SC), 29579, United States, 550 Forestbrook Rd, Ste 304, Myrtle Beach (SC), 29579, United States, 2777 E Highway 501, Conway (SC), 29526, United States, 950 Forestbrook Rd, Summerville (SC), 29485, United States, 101 Rocko Dr, Myrtle Beach (SC), 29579, United States. Consider donating! 3876 Renee Dr, Myrtle Beach (SC), 29579, United States, 3874 Renee Drive, Suite C, Myrtle Beach (SC), 29579, United States, 109 Finnegan Ct, Myrtle Beach (SC), 29579, United States, PO Box 50691, Myrtle Beach (SC), 29579, United States, 603 Kent Ln Apt 20B, Myrtle Beach (SC), 29579, United States, 4761 Highway 501, Ste 6, Myrtle Beach (SC), 29579, United States, p.o. 10% lower than Chicora Long Term Rentals LLC's reported 10 employees, and received an average PPP loan of $84,234, 21% higher than this company's loan of $69,722. Most of the time, a homeowner lets call her Lucy Landlord in this case assumes that stuff will all fall mostly under the category of home maintenance. After that, itll fall to Lucy to file a lawsuit in court. endobj endobj The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. Either way, Lucys going to have to fix it. For more information, please see the FederalPay PPP Data Policy. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods. 9 0 obj Advertising Agency, Although Lucys agent will certainly advise her that if she wants to do her own advertising, shell have to take extreme care not to violate any of the multiple federal, state and local fair housing requirements. YP - The Real Yellow PagesSM - helps you find the right local businesses to meet your specific needs. 16 0 obj 531210, Offices of Real Estate Agents and Brokers, Myrtle Beach, Additionally, because this standard calculation is based on the maximum loan eligibility, it will under-estimate payroll costs if the business did not apply for the full amount of loan to which it was entitled based on its 2019 payroll expenses and other variables described above. Myrtle Beach, SC, Casteel Cleaning Services LLC 2014 - 2022 FederalPay.org. Otherwise, its on to the next applicant. 2 0 obj 2. Lucy must determine the right rent. Categorized under Real Estate Leasing and Rentals. Finally, theres the task of accounting. If the court rules in Lucys favor, she will have to coordinate the actual eviction with the sheriffs office and in addition to that, shell have to muster up some help to remove the tenants belongings. Business Service, Event Planner, Murrells Inlet, SC, Oceanfront Vacation Rentals Inc Keep track of income and expenses. endobj SC 29579, Myrtle Beach, Create a good lease. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods. Existing or more than 2 years old. What a property manager does in real estate. And once that decision has been made, the next responsibility that falls to the landlord is to ensure that the lease includes all of the appropriate requirements for your property and is legally enforceable. Good customer", "I owned a investment unit with Chicora generating great passive income to me. <> Fix things that break. Properly done, a security deposit is placed in a separate escrow account, where it remains untouched throughout the tenancy, unless some portion of it is applied to tenant damage. What is the fair-market rental value of her property? ". While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations. If Lucy commingles funds, she might be inviting legal problems. ", "Very professional team with great values. Jamestown Management, LLC Usage is subject to our Terms and Privacy Policy. Once we notice visitors from Facebook to shared place, it gets promoted for 3 months FREE! endobj <> Property Management Company, Educational Organization, In fact, Im guessing that at some point one of your clients who is weighing selling versus leasing has asked you what a property manager does. Additionally, Lucy will have to check to make sure the applicants credit score and debt-to-income ratios fall within an acceptable range.

4 0 obj Business Service. 3888 Renee Drive, Myrtle Beach (SC), 29579, United States. Good customer service to me and my tenant. Collect rent and handle evictions. However, specific calculation methods vary based on entity type and have numerous qualifications. endobj The loan's status was last updated by the SBA in November, 2020. Owners who claim their business can update listing details, add photos, respond to reviews, and more. What a property manager does in real estate 6 0 obj Calculation methods vary based on entity type. Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs. 5 ways they help landlords stay on the right side of the law Employment status must be verified, and so does the applicants rental history, with references from current and previous landlords checked. 8 0 obj If something breaks, leaks, bursts or wears out itll be Lucys responsibility to determine the cause of the problem. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. endobj This industry in total received less than 1% of the total PPP funding distributed. stream <> PPP recipients in this industry report an average of 9 employees, ;$.=4N~9C.`pp661c?aDq;cNN>F('Ert(_t1"eey(ROfge All other marks contained herein are the property of their respective owners. Business Service, Free advertising on Craigslist is a good option, as long as Lucy remembers to keep refreshing the ad weekly as they require and so that it doesnt get buried under hundreds of others. Myrtle Beach, SC. After successfully qualifying the tenants application, itll be Lucys, or possibly her agents, responsibility to draw up a lease that is both fully compliant with the law and 100 percent enforceable. In the event the tenant stops paying rent, Lucy will attempt to collect it by sending written correspondence and making phone calls. Myrtle Beach, SC, Indigo Property Management Our records show it was established in 2010 and incorporated in SC. Construction Service & Supply, Property Management Company, *hTdLi g;UDCMitv'M98l(eYQ= _u1*Ll!{`W_1TqhaxX5Q1JgDnTe3bD60KM?-9mw(,o)1aS1pV?nr/AO=_RhX?aeBl%~Mws!NKJ(xK8!rbP.BveNBMYAd"El.>W.\ X|wjt^3q7r;ZjX(P'3s_=HHEDhB|*+1% :TBziW4'Q1qh}30c|@F2L9ET`nQw Before she even places an ad, its important that she know and understand who her target market is and what the sweet spot for rent is in her neighborhood. Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. What exactly does a property manager do? 15 0 obj endobj After all, Lucy cant really expect her agent to take time away from selling homes to manage a home. Once the rent price has been set, its time to begin the process of advertising and reviewing replies to ads. endobj

5. We do all the stuff youre going to have to do if you dont hire us! Professional Service, Real Estate Company, Myrtle Beach, SC, Vacation Property Service Of Myrtle Beach Inc Its an excellent question and my firm has developed a simple answer for it. <> <>/Metadata 442 0 R/ViewerPreferences 443 0 R>> % Or she might opt to engage a Realtor who will list her property with the multiple listing service, draw up the lease, oversee a move-in day inspection and then withdraw from the transaction. endobj <> YP, the YP logo and all other YP marks contained herein are trademarks of YP LLC and/or YP affiliated companies. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page. Estate Lawyer, So, heres my list of what Lucy Landlord will have to do (in the absence of a professional property manager) to manage and maintain her property and to stay on the right side of the law as she deals with her tenants. <> What exactly does that mean? We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. So, what does a property manager do? laohA.4|^nA*}+;/VgC5R=me cLsnn>r 3MA2FpI*nP(|ROJ /&Fh#oZ4-wsO]Z`a9t>5H'5;QNc5#|& +F`"fOHD nKDx2q?nM~~\5x,Q&qoJ,BdR08Jw=%|NRXguX Once the actual lease has been drawn up, theres the matter of the security deposit. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. For example, did the 8-year-old washing machine die of natural causes such as reasonable wear and tear, or did it stop running because the tenants all left rocks in the pockets of their jeans? Residential Property Managers 5 0 obj 2. If she is especially handy around the house or likes DIY projects, she might think shes ready for the task. Finding and placing a good tenant demands both diligence and knowledge. 3. <> Local Service, Moving & Storage Service, Once Lucy has heard from an interested lease applicant, she will have to qualify that person as someone who will be likely to pay rent on time and take good care of the home. And if it was the tenants fault, theyre going to be charged for the repair. Chicora Long Term Rentals LLC is a limited liability company (LLC) located at 4605 Oleander Dr Ste 5 in Myrtle Beach, South Carolina that received a Coronavirus-related PPP loan from the SBA of $69,722.00 in April, 2020. First of all, Lucy will have to determine whether the lease will fall under the South Carolina Common Law or the South Carolina residential Landlord and Tenant Act. Shell be required to keep track of all gross rents collected and report this income to the IRS on a specific schedule (form), attached to her 1040. Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). On the PPP application, Chicora Long Term Rentals LLC reported intending to use the proceeds of their PPP loan for the following expenses: Business Industry: Find the right tenant. <>

Myrtle Beach, SC, Sweetgrass Association & Property Management LLC <> In the Myrtle Beach area, 43 businesses in the "Residential Property Managers" industry received a PPP loan. <> Chicora Long Term Rentals is a full service rental management firm, providing professional rental services sinc 1986. 13 0 obj All rights reserved. 17 0 obj And, shell have to keep track of all legitimate expenses to offset the income when she files her tax returns. Shell bear the responsibility of documenting the cost with a legitimate contractors invoice. %PDF-1.7 Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. Its a question Im often asked by homeowners who are considering becoming landlords especially at times when home sales are slow. Preferred listings, or those with featured website buttons, indicate YP advertisers who directly provide information about their businesses to help consumers make more informed buying decisions. These local businesses reported an average of 9 employees (compared to this company's 10) and received an average PPP loan of $48,820 (compared to this company's $69,722). Business Service, Signs & Banner Service, 552 (Freedom of Information Act) and 5 U.S.C. FederalPay does not modify the data and makes no claims regarding its accuracy. endobj Claim it for free to: Search Manta's Directory to find the Small Business you're looking for. SC 29579. endstream In order to qualify for the PPP loan amount received, Chicora Long Term Rentals LLC's 2019 payroll expenses are estimated to be at least $334,666. All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. 7 0 obj Current estimates show this company has an annual revenue of 176383 and employs a staff of approximately 2. Chicora Long Term Rentals, LLC is an unclaimed page. 552a (the Privacy Act) and is published unmodified, as provided by the SBA. This business is unclaimed. 12 0 obj Estate Planning Service, Sewing & Seamstress, If she doesnt, she could potentially trigger an IRS audit, something she definitely wants to avoid. 1 0 obj endobj At the time of the hearing, shell have to appear before the judge (probably taking a half or full day off of work to do so). <> Business Service, Signs & Banner Service, 1016 2nd Ave N, North Myrtle Beach, SC 29582. endobj vy]V+h&.uR^T}c2y!1!/'60$jjd"Nt Z'[ @rl 1. View sitemap, FederalPay is a free public resource site and is not affiliated with the United States government or any Government agency, In all cases, salaries or net earnings over $100k are capped at $100k for PPP calculation purposes, For new businesses that were not in operation in 2019, alternative reference periods are available. Shelf O Matic and Christy Collection International Inc. Chicora Long Term Rentals, LLC offers residential real estate services to people in and around Myrtle Beach. endobj [ 13 0 R] Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $33,467 per employee1. All the stuff Lucy, or perhaps your client, will have to do for herself in the absence of a management professional market research, advertising, tenant screening, legal document creation, rent collection, escrow accounting, maintenance and repairs, and more while also staying on the right side of the law and, hopefully, out of the courtroom. When her collection efforts fail and she finally accepts that its time to evict, she will have to send a legal notice instructing her tenants to pay or vacate the premises. Real Estate Agent, No matter how nice her agent is, thats just not part of the job description.