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Archive for December, 2012

Quitclaim and Grant Deeds – By Dale Alberstone, Esq.

Posted on 12. Dec, 2012 by .

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Hello everybody.  My discussion this month about deeds will brief you on an important point of law about which most lawyers, as well as many real estate attorneys, are misinformed.  The issue is, “Immediately prior to the moment a seller delivers a Grant Deed to a buyer for a parcel of real property, does the seller have to own the property?”  Stated in a slightly different manner, does the seller who hands a Grant Deed to a purchaser represent to the buyer that he has title to the property he is purporting to convey? [...]

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Three Easy Ways to Know Thy Apartment Competitor © – by Ernest F. Oriente, The Coach

Posted on 12. Dec, 2012 by .

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“Did you hear what our competitor is doing?”  This question has caused many property management professionals to freeze in their tracks.  What about you?  Does your leasing team know what your neighboring apartment communities are doing?  And if a future resident was to ask them, “give me 10 unique reasons why I should lease an apartment from you and your company,” could they answer this question without a pause?  “Knowing thy competitor” is critical, and this article will outline three easy ways to know more about them, than they know about you! Let’s get started! [...]

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The Seven Habits of Highly Effective Property Owners – By Lauren Boston

Posted on 12. Dec, 2012 by .

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It’s hard enough to budget the correct amount of money for Christmas gifts, let alone for an entire operating year in the multifamily housing industry. While it may not be a major crisis if the Justin Bieber poster you promised your daughter for her bedroom wall is five percent more expensive than you anticipated, it is a serious problem if a community’s budget goes over by that amount— potentially putting your company more than $1 million in the red. [...]

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Why Should You Use Guest Cards for Prospective Tenants? – By Joyce Kirby

Posted on 12. Dec, 2012 by .

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Whether you have several vacancies and upcoming notices to lease or you are down that last “net to rent”, you must still qualify your prospects in order to ultimately secure the rental.  How you remember and record the needs and preferences of your callers and visitors is just as important as obtaining the information in the first place.  Following is a question that came up during a training session on the topic of guest cards. [...]

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QE3 QED: How the Latest Round of Quantitative Easing May Affect the Apartment Industry – By Patrick Simons

Posted on 12. Dec, 2012 by .

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Predicting how the recent quantitative easing announcement (“QE3″) from the Federal Reserve (the “Fed”) will affect your business is a complex undertaking.  But, if we focus on just a few economic indicators, it’s QED (quite easily done). [...]

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10 Ways to “Turn-off” Potential Renters – By Rebecca Rosario

Posted on 12. Dec, 2012 by .

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As individuals, we all have our own little pet peeves.  What may turn off one prospect may not bother another.  As apartment professionals, we cannot afford to turn off a single customer, and image is everything.

Keeping our communities neat and clean is not only easy to do, it is generally an inexpensive way to attract customers and create a pleasant property atmosphere.  Take a look around at your community.  Do any of the following situations exist?  Here are 10 ways your apartment community may be turning off prospects: [...]

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As a Landlord, What Are You Doing Differently to Survive? – by Violet Wilson

Posted on 12. Dec, 2012 by .

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Times are a-changing.  Individuals are losing jobs and struggling to make rents.  Consider the following to keep your rentals occupied.

Broaden Qualifications

Broaden the scope of what is deemed passable on a credit report.  A past medical problem or loss of job can ruin credit.  Have they paid promptly in the last two years?  Did they pay their rent on time and maintain their past rental in good condition?  Have they been at their job for a long period of time? [...]

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HJTA Files Class Action Lawsuit Against Fire Tax and Guess Who Wants to Raise Your Taxes? – By Jon Coupal

Posted on 12. Dec, 2012 by .

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Sacramento – Recently, the Howard Jarvis Taxpayers Association filed a class action lawsuit to provide relief to nearly one million California property owners who received bills from the State for a new “fire prevention fee” which the lawsuit claims is illegal. [...]

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Obamacare Capital Gains Tax Income Starts January 1, 2013! – By Peter S. Muffoletto, C.P.A.

Posted on 12. Dec, 2012 by .

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The Patient Protection and Affordable Care Act and the Health Care and education Reconciliation Act of 2010, otherwise as it has become known as Obamacare imposes a 3.8% Medicare contribution tax on all net investment income of higher-income individuals as of January 1, 2013 [...]

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Lisa’s Laws of Landlording – What Every Owner Should Know – By Lisa Moren-Bromma

Posted on 12. Dec, 2012 by .

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This article is reprinted here with permission from Creative Real Estate Online at http://www.creonline.com

Recently, I made a presentation to a group of real estate investors on the subject of landlording. Specifically, how to determine if your marketplace is one for holding real estate, the pros and cons of being your own property manager, as well as creative ways to find good tenants and keep them for the long term.
As I went through my presentation, the naysayers (These are the people who don’t believe we should be in the rental business.), said, “What about tenants who trash properties?” “Yeah, and how about those that are always late with the rent?” and “What about the neighbors complaining about noise, junk in the yard?” and so on. [...]

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