American Apartment Owners Association's Blog

I Have a Question...

American Apartment Owners Association (American Apartment Owners Association) — Sat, 21 Jul 2012 13:39:00 -0700

Around my home town I noticed that a local property management company has started posting signs on the front of the buildings they manage with their company name and phone number. They manage a lot of student rentals, and there has been some of controversy lately over student parties, so I think they are doing this to placate the neighborhood association. It seems like a good idea because disgruntled neighbors might complain to the manager rather than the police. But I was wondering -- is posting your phone number on the outside of a rental property a common practice for property managers? Are there any reasons NOT to do it? -- Kim

Eviction Lawyers Work for Tenants, Too

American Apartment Owners Association (American Apartment Owners Association) — Thu, 22 Mar 2012 10:35:44 -0700

It may come as a surprise to a landlord when they discover that their deadbeat tenant lawyered-up to fight the eviction.

Eviction lawyers don’t just work for landlords; some work for tenants, too. When they do, they can make the eviction process a long and expensive journey.

What does an eviction lawyer tell a tenant who is falling behind on rent or facing an eviction?

“Don’t rush to move — you’ve got some time.” By contesting the eviction, the tenant’s attorney can drag out the process long enough for the tenant to save up some money and get another place, while living rent-free. Until that order for possession comes through, the tenant has the right of possession, and the landlord can’t lock them out, or move their personal items out of the rental property.

Washington State Changes Its Tenant Screening Rules

American Apartment Owners Association (American Apartment Owners Association) — Thu, 22 Mar 2012 10:30:54 -0700

Washington state legislators last week passed a law that requires more of landlords in that state.

Beginning June 7, landlords who wish to run tenant screening reports must first disclose to the applicant what information they will be seeking, which service they use, and what reasons they have for rejecting an applicant.

Lawmakers also convened an advisory board that may limit what information a landlord can consider in rejecting an applicant. Those recommendations are scheduled for December of this year.

Specifically, landlords must disclose in writing: (read more...)

Investors Getting Stuck With Bad Tenants

American Apartment Owners Association (American Apartment Owners Association) — Thu, 01 Mar 2012 13:18:07 -0800

The demand for tenant debt collection is growing, and landlords need to stay one step ahead, especially when they are shopping for an investment property that is subject to a tenant lease.

The problem stems from what’s in the typical tenant file. With typical due diligence, the owner provides only the lease agreement. While the lease is crucial for enforcing the rent obligation, it doesn’t contain the information needed to enforce the judgment or trace a tenant who skips out. Read more...

3 Ways to Improve Your Tenants

American Apartment Owners Association (American Apartment Owners Association) — Thu, 01 Mar 2012 13:16:25 -0800

Every landlord wants to find a responsible tenant — someone who will keep the property clean and well-maintained. But it takes a series of responsible tenants to keep a rental property profitable.

Tenants can’t do it alone — even the best ones need a little guidance to pull it off.

Adopt these policies, and you just may improve your tenants: (read more...)

Uncle Sam Wants You: FHFA, Treasury, HUD Seek Input on What To Do With REO Properties

American Apartment Owners Association (American Apartment Owners Association) — Wed, 17 Aug 2011 12:54:30 -0700

Washington, DC – The Federal Housing Finance Agency (FHFA), in consultation with the U.S. Department of the Treasury and HUD, has announced a Request For Information–a formal request for input on new options for moving the inventory of single-family REO properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration.

The objective is to gain ideas that could address current and future REO inventory.

These agencies need to explore alternatives for maximizing value to taxpayers and increasing private investment in the housing market, including approaches that support rental and affordable housing needs. Read more...

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

Landlords Stuck With Tenants' Unpaid Water Bills: City May Offer Reprieve

American Apartment Owners Association (American Apartment Owners Association) — Fri, 05 Aug 2011 20:03:04 -0700

Landlords in one Wisconsin town are hoping to get a reprieve from a rule that makes them liable if their tenants don’t pay for water.

Under current law, landlords can be served “pink slips”–add-ons to their property tax bill, every time a tenant walks away from the water bill.

On the other hand, when the landlord pays the tax bill, the tenant’s slate is wiped clean, leaving them free to rip off the next landlord, and the next. (Read more...)

Check out our Landlord Forms page.

New Law Would Limit Landlord Registration Fees, Rental Property Inspections

American Apartment Owners Association (American Apartment Owners Association) — Fri, 10 Jun 2011 23:01:44 -0700

North Carolina State Senator Neal Hunt has introduced a bill that would severely limit a city's ability to charge registration fees, or require routine inspections on rental properties. The law would also eliminate the double standard of requiring only rental property owners to undergo inspections.

The bill is called An Act Requiring Counties and Cities to Have Reasonable Cause Before Inspecting Residential Buildings or Structures.

After two amendments, the measure now provides that a city's inspection department (read more...)

New Landlord Horror Film Promises to Scare Tenants

American Apartment Owners Association (American Apartment Owners Association) — Thu, 03 Mar 2011 12:40:46 -0800

Every year, several million single women in America move into an apartment. They don't know who lived in the apartment before them, they don't know their landlords, and they don't bother to change the locks.

This is the story of one such woman...

That's the promo for the newest landlord tenant horror film, The Resident, set for official release on March 11. Read more...

Needless to say, the movie is not based in reality, but it does promise to deliver 91 minutes of seat-squirming discomfort - hopefully the same amount of time it will take tenants to forget about it. But don't be surprised if they look at renting a little differently from now on...

With AAOA, landlords have resources at their fingertips. Check out our Landlord Forms page.

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

Landord Challenges Zoning Restrictions

American Apartment Owners Association (American Apartment Owners Association) — Wed, 01 Dec 2010 11:55:32 -0800

An Albany, New York landlord has filed a suit against the local zoning board after some of his properties were declared nuisances and he was told he must take many of his units off the rental market in an up-and-coming neighborhood.

The landlord is claiming that the actions are motivated by discrimination because many of his tenants are minorities. He also claims that his tenants are being blamed for Read more...

Should Have Seen This Coming? Landlord Sued for Failure to Warn

American Apartment Owners Association (American Apartment Owners Association) — Wed, 22 Sep 2010 12:16:45 -0700

A high-school teacher who says she was humiliated by students and peers over bite marks on her arms is suing her landlord over the culprits- bedbugs that invaded her apartment after she had lived there for a year.

The former tenant, who claims she can no longer go to bed at night without turning her room upside down hunting for bugs and needs to keep her arms covered even in the summer to hide scarring, filed suit against her former Baltimore-area landlord asking the court for a judgment in excess of $100,000. Read more...

For more, see Are You Screening Your Tenants for Bedbugs?

American Apartment Owners Association offers discounts on products and services for landlords related to your commercial housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

New Law Requires Written Disclosure from Landlords

American Apartment Owners Association (American Apartment Owners Association) — Sat, 11 Sep 2010 19:31:16 -0700

The State of Maine has passed a law requiring landlords to test all rental properties for radon.

In addition, a written disclosure statement must be given to each tenant, informing them of the risks of radon exposure. Those risks include lung cancer.

A sample disclosure statement is provided on the Maine Department of Health and Human Services website. The tenant will have to read more...

See September 30 Deadline for Lead Paint Certification.

Judges Nix Town's Attempt to Fine Landlords

American Apartment Owners Association (American Apartment Owners Association) — Sat, 11 Sep 2010 19:25:02 -0700

With a population of just around 30,000, the little town of Hazleton, Pennsylvania is getting more than its share of attention today.

An appellate court just issued a sweeping decision striking down as unconstitutional the city's law that would have punished landlords who rented to anyone the city designated as an illegal alien with as much as a $1,000 fine, and would have required all tenants to pay for a rental permit to gain housing within the city. Read more...

Rent-to-Own Transactions Move into the Mainstream

American Apartment Owners Association (American Apartment Owners Association) — Fri, 25 Jun 2010 14:06:13 -0700

Most investors want to sell properties outright. They hope for a clean, quick transaction. But for many, it's just not happening.

Rent-to-own sales, or lease options, are moving into the mainstream, according to Robert Eisenstein with HomeRun Homes, an online classifieds website dedicated solely to rent to own transactions.

The benefits of rent-to-own for tenant/buyers are obvious: the chance to scope out a neighborhood before buying, and getting into a house without having to apply for a bank loan. Apportioning the lease option payment in each month's rent payment also forces buyers to stick to a budget.

But the advantages for sellers are more subtle. "For sellers, it's a matter of being stuck with a property they can't move in this sluggish market," explains Eisenstein. Read more...

See more on Real Estate Financing.

American Apartment Owners Association offers discounts on products and services for landlords related to your commercial housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

Are Higher Rents on the Horizon?

American Apartment Owners Association (American Apartment Owners Association) — Tue, 08 Jun 2010 18:57:37 -0700

Rents in some areas have been in a slump for awhile, due in large part to high unemployment numbers.

When the government released May's job numbers, the press touted the increase as the "Best in 10 years."

But give it a closer look, and you will see why these new numbers may not help the rental market, at least not yet. Read more...

American Apartment Owners Association offers discounts on products and services for landlords related to your commercial housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

See our earlier feature, Bad News for the Rental Market.

Six Figure Fine Over Paint Disclosures

American Apartment Owners Association (American Apartment Owners Association) — Wed, 26 May 2010 15:17:48 -0700

Property Manager, Leasing Agent Prosecuted

A property management company based in Meriden, CT has agreed to pay a $276,000 penalty for violating federal lead-based paint disclosure requirements.

EPA alleged that the property management company violated the federal Lead Disclosure Rule when it failed to disclose information about lead paint to at least twenty tenants who rented their multi-unit residential properties between 2001 and 2003.

Specifically, the company failed to provide records or reports regarding lead hazards, failed to make sure that the lease included a Lead Warning Statement and a statement disclosing the known or unknown presence of lead-based paint, and failed to provide a copy of EPA's lead hazard information pamphlet to its lessees.

In addition to the fine, read more...

American Apartment Owners Association offers discounts on products and services for landlords related to your commercial housing investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

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Landlords Are Applauding City's New Rental Law

American Apartment Owners Association (American Apartment Owners Association) — Wed, 26 May 2010 15:10:45 -0700

A new law in Buffalo, New York creates more work for landlords.

There was little notice when the law went into effect this spring.

Landlords must now draft an additional disclosure document- one that lays out whether smoking is allowed on the rental property, and if so, where. The tenant must receive this disclosure before they sign. Landlords also must modify rental leases to track the new policy.

So why are landlords so happy to have this extra work? Read more...

See our feature, Battle for Smoke-Free Apartments Heats Up.

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City Targets Out-of-Town Landlords

American Apartment Owners Association (American Apartment Owners Association) — Sun, 16 May 2010 19:53:17 -0700

The City of Philadelphia is taking aim at landlords, this time by requiring out-of-town owners to contract with a local manager to oversee "defects", and appoint a local contact to receive legal notices.

This new regulation, passed by unanimous vote of the City Council, is aimed at curbing noise and trash complaints that they say go unheeded when a landlord lives outside the city or surrounding areas.

The new rule applies to all landlords who do not live in Philadelphia or its suburbs, and own three residential properties, a rooming house or a multifamily building with at least four units. read more....

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Landlord Can't Evict Disruptive Tenants

American Apartment Owners Association (American Apartment Owners Association) — Mon, 19 Apr 2010 17:08:24 -0700

I've been following this story in my hometown for nearly a year now. As someone who is prone to bug bites and sunburns, all I can say is "ouch":

Catharine Pierce is an avid gardener. But unlike many others, she prefers to garden in the nude. Well, actually not entirely nude: she wears a yellow thong, and pink gloves.

The housing authority where she lives threatened to evict her and her husband over the barrage of complaints it received last summer from the neighbors, including mothers who fear that local teenage boys have become far too preoccupied with gardening.

But evicting disruptive tenants proved to be harder than it looked. Despite the complaints, even calls to the police, turns out being nude is not a crime in this Colorado mountain town. After months of negotiations with the couple failed to resolve the complaints or halt the frequent visits by law enforcement, the landlord's only hope was for the city council to beef up its nudity rulings. The council was torn. Isn't it discriminatory to allow men to take off their shirts in public, but not women? read more...

For more see on this story, see Landlord Struggles to Evict Tenants for Over-Exposure.

To subscribe to our blog, click here.

http://www.american-apartment-owners-association.org/blog/2010/04/15/landlord-cant-evict-disruptive-tenants/

Auction Announcement, Cincinnati, Ohio

American Apartment Owners Association (American Apartment Owners Association) — Wed, 10 Mar 2010 10:20:52 -0800

Tranzon AUCTION ANNOUNCEMENT CINCINNATI, OHIO

A 15 UNIT APARTMENT COMMUNITY

2552 Harrison Avenue &
2541 Gobel Court
Cincinnati, OH 45211

Tranzon Asset Advisors announces the auction of a Foreclosed Multi-family property.

All units consist of 3 bedrooms, 1 bath with spacious floorplans. Most units have assigned garage space.

Property will be sold over the minimum bid of $125,000.

The auction will take place on site at 2552 Harrison Avenue Cincinnati, OH 45211

on March 24, 2010 @ 12:00 pm EST

A preview of the property will take place on March 17, 2010 at 11:00 a.m. EST and again on March 24, one hour prior to the auction.

Tranzon Asset Advisors of Ohio, Inc. a real estate brokerage and auction firm,

Edward Durnil, Auctioneer/Broker OH Firm # 2008000096
Tranzon Asset Advisors
Ohio Operations Center

Jon Barber
(877) 374-4437
jbarber@tranzon.com

Or follow the link below.

http://www.tranzon.com/Propertydetail.aspx?id=7423

10 Ways to Spot Deadbeats Before You Rent to Them

American Apartment Owners Association (American Apartment Owners Association) — Wed, 10 Mar 2010 10:17:25 -0800

With vacancies high, you may not get the chance to sift through a pile of qualified applicants to pick the cherry tenant.

That makes it even more important to spot the ones who are more likely to cause damage or leave you with unpaid rent to collect.

While there is no sure-fire formula for predicting who will become a deadbeat tenant, hindsight from other landlords and property managers who've been burned can offer some great lessons.

If you see some of these traits in your applicants, you may want to dig deeper before you hand over those keys:

Tries to entice you by offering to pay cash

Starts to negotiate before you show them the unit

Wants to pay the deposit in installments

"Crime-Free" Certificate Could Attract Tenants, Reduce Landlord Liability

American Apartment Owners Association (American Apartment Owners Association) — Wed, 10 Mar 2010 10:13:23 -0800

Police Offer Crime Prevention Certificate Training for Property Managers, Landlords

When a tenant commits crimes on your property, it's a nightmare for you and for the entire neighborhood.

The Mesa, Arizona Police Department decided to do something about the number of crime reports generated from rental properties: talk to landlords.

Police officers found that many landlords were unaware of the crimes being committed, and also of how to prevent crime on their properties. The officers developed an education program designed to foster cooperation with landlords.

The Crime Free Multi-Housing Program was successful -so much so that it took to the road, and has now spread to around 2,000 cities in 44 states.

Completion of the program requires three steps: read more...

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Green Rules Put Landlords in the Red

American Apartment Owners Association (American Apartment Owners Association) — Sun, 13 Dec 2009 16:52:36 -0800

Boulder, Colorado is poised to pass a series of green regulations that place the onus on landlords to cut tenants' utility bills.

Dubbed "SmartRegs", these provisions require upgrades to a rental property as a condition to renewing a rental license.

But while neighboring homeowners and even tenants have financial incentives to participate in lowering greenhouse emissions, so far, landlords have been left out.

In addition to paying out of pocket for expensive upgrades, the landlords may be required to educate tenants, particularly short-term renters like students on how to cut waste.

This has a local landlord association seeing red: the expected cost per unit is somewhere between $500 - $3,000, but there is no direct way for the landlord to force a tenant to use less energy.

Even a 100% efficiency furnace won't lower energy usage if the tenant leaves the doors open during a party, for example.

And while higher-end tenants value the green features, rents here are not going up. Read more...

See our feature, Making Every Dollar Count: Money Saving Tip for Landlords.

American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at joinaaoa.

To subscribe to our blog, click here.

Disaster Prevention - Now, It's the Law

American Apartment Owners Association (American Apartment Owners Association) — Sun, 15 Nov 2009 12:32:35 -0800

Headache, nausea, fatigue — symptoms of the flu, right? Could be.

Or, it may be something even deadlier.

Carbon monoxide poisoning mimics the flu. Many victims crawl into bed, and fall asleep.

Legislators in Baltimore announced today they are enacting rules requiring landlords to provide carbon monoxide detectors for tenants, including accommodation for tenants with hearing impairments. Read more...

Find out more at www.joinaaoa.org.

Multi-Property Auction Announcement, Pennsylvania

American Apartment Owners Association (American Apartment Owners Association) — Wed, 28 Oct 2009 14:57:58 -0700

November 13, 2009

TWO SEPARATE AUCTION SITES: AUCTIONS in MONT ALTO, PA 17237 @ 10AM

3 DUPLEXES: EACH duplex has 3 bedrooms, 1 bath, kitchen, living room, dining room & all are within walking distance to Penn State Mont Alto Campus

NEW TOWNHOUSE DUPLEX To be offered: Offered separately & as a whole. Custom-built townhomes each w/ 3 BR, 1.5 bath, living room, kitchen/dining room, laundry room, oversized 1-car garage.

3 APPROVED DUPLEX LOTS To be offered: READY to BUILD all wtih PUBLIC UTILITIES.

3 SINGLE FAMILY LOTS with CREEK FRONTAGE To be offered: READY to BUILD all with PUBLIC UTILITIES. Lots range from 0.9+-to 1.1+-acres.

AUCTIONS in SHIPPENSBURG, PA 17257 @ 1PM

ABSOLUTE AUCTION - 6+-ACRE APARTMENT COMPLEX Bordering SHIPPENSBURG UNIVERSITY on 3 SIDES: Sunbeam Court/Rocky Knob Apartments. Successful HIGH-RETURN investment property with 7 APARTMENT BUILDINGS with (27) 2 & 3 bedroom apartment units, and also APPROVED LOTS for 9 additional buildings consisting of 40 more apartment units-utilities & infra-structure already in place.

ABSOLOUTE AUCTION – 4-UNIT APRTMENT BUILDING: (1) 2BR & (2) 3BR apartments.

2 RESIDENTIAL DEVELOPMENTS close to I-81 To be offered Forrest Ridge Acres Development 22 APPROVED SINGLE FAMILY LOTS

PUBLIC UTILITIES & additional 60+-ACRES with preliminary drawings for additional 120+LOTS. Between Rt.11 & Possum Hollow Rd.

Apple Hill Development 64 PRELIMINARY LOTS: Additional 24+-ACRES with preliminary drawings. Off of Lindsay Lot Rd.

For more information contact: Hurley Auctions: 866-424-3337 info@hurleyauctions.com or follow the link below: http://www.hurleyauctions.com/absoluteig/gallery.asp?categoryid=835

American Apartment Owners Association provides discounts and services for landlords, including tenant screening, tenant debt collection, real estate forms and property management tips. For more, see www.joinaaoa.org.