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Archive for May, 2013

Fair Housing Overview: Part 2 Pre-Tenant Considerations and How to Avoid Lawsuits – By Michael A. Brennan, Esq.

Posted on 01. May, 2013 by .

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Avoiding Discriminatory Practices Before the Tenancy As stated above, one of the best ways to avoid Fair Housing complaints is to ensure fair and professional management practices for your marketing, application, and screening procedures. For example, by establishing written, objective criteria and policies that are both in compliance with Fair Housing laws and applied consistently […]

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Allowing Pets in Rental Units – The Times Are Definitely Changing! – By Bruce Kahn

Posted on 01. May, 2013 by .

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In the past, it was pretty clear where I stood on the subject of allowing pets in rental units.  I didn’t allow it if it could be prevented.  Typically, the income would be eroded by damage and economic loss. As an owner, I now find myself beginning to change my opinion.  It certainly has become […]

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Selfless Service – It’s Not About You – By Rommel Anacan

Posted on 01. May, 2013 by .

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Have you noticed that some people are really delusional? If you need proof of this statement all you have to do is watch the endless parade of singing and talent competition shows on television. Whether you’re watching American Idol, The Voice, The X-Factor or America’s Got Talent there are always performers that are painfully bad. […]

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Do You Have A Written Criteria List for Applicants?

Posted on 01. May, 2013 by .

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By Patricia A. Harris Having a written criteria list for your rental applicants is pertinent in your rental business and serves several purposes.  By attaching a copy of your rental criteria to each blank application form, you are informing your applicant of a list of conditions that must be met for them to be

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Something to Think About #8 – Tipping Point – By Klarise Yahya, Commercial Loan Broker, DRE: 0095710 MLO: 249261

Posted on 01. May, 2013 by .

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 If you’ve missed some of the prior articles, basic “beginner” guidelines on successful investingare in my book “Stairway to Wealth” available at LuLu.com.  Tipping Point, Etc. One of my girlfriends recently retired from a suburban Water & Power company after 40 years employment. She started as an entry level clerk, but the utility expanded over […]

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Are Your Tenants in Charge? Are Your Tenants in Charge? – By Robert Cain

Posted on 01. May, 2013 by .

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The beauty of real estate investing is that it is in your control. You decide what to buy, where, at what price.  Then, you rent to tenants of your choosing – ones who are good neighbors and caretakers of their homes. You pay all the expenses from the rent you receive,

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The Smartest Guys I Know Are Moving … Should You, Too? – By Dr. Steve Sjuggerud

Posted on 01. May, 2013 by .

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Recently, I learned four different friends are doing something that will save each of them tens of thousands – or even hundreds of thousands of dollars each year.  They’re moving.  And they’re not the only ones.  Many of the smartest guys I know are moving this year.  They’re not just thinking about moving; they’re not […]

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How to Choose an Accomplished Property Manager So You Can Sleep at Night – By Cliff Hockley

Posted on 01. May, 2013 by .

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As a successful investor you may have already given thought to hiring a property manager take care of your investments. This article will give you some tips and tools that you can use to help make a successful decision. Property managers exist for the management of all

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Joint Tenancy: Pros and Cons – by Edgar Saenz, Esq.

Posted on 01. May, 2013 by .

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The main difference between joint tenancy and tenancy in common is that joint tenancy creates an automatic right of survivorship.   This means that when a joint tenant dies, the other joint tenant or tenants inherit the deceased’s share in the property.  It’s a popular way to hold title.  Married couples and family members often

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Forecasts & Trends Worst Five Years Since the Great Depression – by Gary D. Halbert

Posted on 01. May, 2013 by .

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As of the end of 2012, the United States has experienced the worst five-year period of economic growth since 1928-1932 and the start of the Great Depression. Following the global financial crisis and recession in 2008, and based on the historical pattern of American economic recovery since the Depression years, the United States should have […]

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Arkansas Jails Tenants Who Are Unable to Pay Rent Under “Failure to Vacate” Law! – by Brett Wilkins

Posted on 01. May, 2013 by .

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Hundreds of tenants who are unable to pay their rent are jailed each year underArkansas’ draconian ‘failure-to-vacate’ law. According to “Pay the Rent or Face Arrest: Abusive Impacts of Arkansas’ Criminal Evictions Law,” a new 44-page report from Human Rights Watch (HRW), hundreds of tenants face criminal charges each year for not

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You Never Have to Pick Up the Rent Again! – By Jeff Taylor

Posted on 01. May, 2013 by .

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One thing that landlords usually all end up saying at some point is that they will never again pick up rents from their residents. For some it takes a little longer than others before they realize who is training who. If you are looking for alternative methods

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AOA Million Dollar Trade Show and Landlording Conference a Huge Success!

Posted on 01. May, 2013 by .

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Our “Million Dollar” Trade Show and Landlording Conference last month was a huge success!  You should have been there!  Our members were more educated, motivated and stimulated by some very knowledgeable speakers who

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Setting and Enforcing Late Fees – By Brett Wright, Esq.

Posted on 01. May, 2013 by .

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The practice of imposing late fees for their tenant’s failure to timely pay rent raises many issues for landlords. Unfortunately, these issues continue to cause many problems for landlords desiring to enforce late fee provisions contained in their rental agreements. While it’s pretty clear that a landlord can impose

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Tenant Has No Reciprocal Rights to Attorneys’ Fees As Provided For In Lease – By C.D. Publications

Posted on 01. May, 2013 by .

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New York.  An appellate court agrees a tenant cannot collect her attorneys’ fees against her landlord under a reciprocal rights theory because the attorneys’ fees provision she claimed the fees under was not contained in her original lease agreement.  The landlord and tenant entered into a written residential lease

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Why Apartment Buildings Are Such Popular Investments Today – By Rick Tobin

Posted on 01. May, 2013 by .

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In recent years, apartment buildings have become quite a popular investment option for real estate investors interested in finding good yields for their money. With mortgage underwriting guidelines tightening up considerably for residential properties (1 to 4 units), more real estate investors have decided to

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Foreign Language Leases Not Advised – By C. Danny Wang, Attorney at Law

Posted on 01. May, 2013 by .

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Rental property owners need to be cautious when entering into a lease, whether oral or in writing – with a tenant if the lease terms are primarily negotiated in one of the following five foreign languages: Spanish, Chinese, Tagalog, Vietnamese or Korean. If this occurs, then the owner must provide the tenant with

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New Disclosure Requirements for Commercial Property – By Dale S. Alberstone, Esq.

Posted on 01. May, 2013 by .

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Hello everyone.  Nearly all members of the Apartment Owners Association own or manage one or more apartment buildings.  Many of them, as well as non-member readers of AOA magazine, own commercial property, or at least aspire to own non-residential investment property. For those who are involved with commercial real estate, my column this month will […]

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Legal Q & A – by Franco Simone, Esq.

Posted on 01. May, 2013 by .

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Q:  What is the different between an assignment of a lease or rental agreement and subletting? If a tenant assigns his right to rent a unit he is transferring all his rights to the new tenant.  If a tenant decides to sublet his right to rent, he is basically agreeing to let someone else rent […]

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10 Tips for Hiring a Good Contractor – By David Lindahl

Posted on 01. May, 2013 by .

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There are too many contractors out there (everywhere) who are notorious for underperforming and making your life very unpleasant. I’ve been a licensed contractor in the state ofMassachusettsfor over 18 years now. I got my start investing in real estate by doing

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How to Hire Property Management SuperStars! © – by Ernest F. Oriente, The Coach

Posted on 01. May, 2013 by .

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Can a person’s behavior and values really determine if they will be a future SuperStar for your property management company?  If you knew the formula for hiring SuperStars and could cut your recruiting costs in half, would you start today?  This article outlines three simple but critical steps for adding structure to your hiring process […]

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Shrieks and Moans and Spending Cuts – By Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. May, 2013 by .

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It’s been said that taking a dollar from a bureaucrat — and a politician too, for that matter — is like taking a piece of raw meat from a hyena — a lot of shrieking ensues. The howls coming from Washington, D.C. over spending cuts required by sequestration, could cause the uninformed to believe that […]

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Legal Q & A by Richard Beckman, Attorney

Posted on 01. May, 2013 by .

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Question 1: I bought a house in San Francisco so my son could live there. My son invited his friend to live there and help with the rent. No formal rental agreements were signed with the tenant who moved in late 2010. Our son has moved but his

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Legal Q & A – By Dennis P. Block, Attorney

Posted on 01. May, 2013 by .

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Question One: My tenant has lived in my unit for over a year and is currently on a month to month tenancy. Recently, he brought in a dog, which is in violation of his lease agreement. I served a 3-Day Notice to Perform or Quit. The notice has expired and the dog remains. Am I […]

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