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My Last Load on the day my house closed escrow. - 03/30/08 01:16 AM
My wife and I sold our own house last week and moved a few blocks away. We laughed that during the move we could never quite get everything out. I must have taken the "last" load about 10 times in the last few days. On the morning escrow was closing I went up to our house one last time. I noted that the garbage cans were in the street and had to be moved up the driveway and into the back yard. They were still on the street from the latest pickup. The amount of room in front of our house was very (5 comments)
Residents that vacate prior to the end of the lease. - 03/28/08 01:08 PM
There are a lot of reasons why a tenant might try to break a lease. Some may be valid and require the landlord to allow this to happen. One example is a military transfer. But, most sitiuations are simply a choice, like a civilian job transfer or promotion, don't like the neighborhood, school change, and the like. A landlord must protect themselves in these situations and enforce the lease. One way to do this is with a clause in the lease so the resident is aware of what will happen ahead of time. Here is HomePointe's clause: 34. Resident agrees that if they must (1 comments)
Pet Policy nuances - 03/25/08 09:50 PM
In a previous post I printed the Pet Policy we currently use at HomePointe Property Management. I also want to mention that in addition to having a Pet Policy/Pet Agreement, you should also charge some additional security deposit for the added risk of allowing the pet. The nuance is that you should not call that extra deposit anything other than Security Deposit. In fact, keep the deposit you charge a separate item from the pet agreement. The reason is that if the tenant gets rid of the pet, you do not want to have to refund a portion of their deposit mid (2 comments)
What is your pet policy? - 03/24/08 05:27 PM
If you are renting property you need to consider what your pet policy is. Did you know that approximately 60% of the population has a pet? If you do not take pets, you are instantly reducing your pool of tenants down to 4 out of 10 people! We normally suggest that our clients allow one pet with an extra deposit paid of at least $500.00. In addition, many dog breeds are never allowed (see below for the policy and breeds). If I can rent a property a month quicker by taking a pet, I think our client is better off. Beside, pets (11 comments)
Mold Lease Clause - 03/20/08 02:04 PM
Your rental agreement should not be without a lease clause that instructs the resident how to deal with mold. Mold is still a problem in that some residents don't know where it comes from and how to prevent it. Also, there are attorneys out there that want to make your life miserable, so having a good mold clause is a good first step in preventing problems. Here is the one we use at HomePointe: 21. Mold Notification: It is the Owner/Landlord's and Owner's Agent objective to maintain the highest quality living environment for any and all Residents. You are hereby notified that (2 comments)
The State Chapter of the National Association of Property Managers is holding its State Conference later this month. Property Managers from all over California and from around the country are coming to Sacramento, CA to this fantastic educational event. If you are a single family property manager this is the event for you. Learn how to streamline your business, earn more income, make your clients happier your life sane. Check it out. BENEFITS, OPPORTUNITIES, NETWORKINGJOINING: CAA's Legislative Day on Wednesday, March 26th MARKETING: Profit by Publicity Author Edward Segal will be our keynote on Thursday, March 27th CALIFORNIA STATE DRE Supervising Auditor Tom Cameron (2 comments)
What is the best way to show prospective renters single family homes for rent? - 03/18/08 06:49 PM
I do not believe there is a correct answer to this question. The traditional way is to answer the phone from the prospective renter, qualify them, and make an appointment. HomePointe used to do that and on occasion we still do. As we grew it became increasingly difficult to handle the many calls we received and make any sense out of showing the many vacancies we had, one at a time. We decided to publish our showing schedule four days in advance both on the internet and verbally on our voice mail system. We then just show up at each vacancy at the (1 comments)
City of Sacramento Passes Rental Inspection Program - 03/17/08 01:43 PM
The City of Sacramento has created a Rental Inspection Program. All rental units in the city will be charged a $28 annual fee and will be subject to annual inspections. There is a self certification element to it as well. All owners that do not live within 35 miles of the city must have a local contact once the program starts. HomePointe plans to offer a way for owners to use our company as their contact. More on that soon. New fee schedule: Annual fee $28 per unit Re-scheduling fee $80.00 Re-inspection fee $150.00 Late penalty fee $20% of amount due. I am not aware of the start (0 comments)
HomePointe awarded 2007 Humanitarian from Calif Apartment Association - 03/17/08 01:33 PM
HomePointe was recognized for its efforts in locating a suitable home for the Bravo Family late last year. This is a tragic story of a father of seven children that shot and killed his wife and then himself. He left behind seven children, the oldest being 19 year old Cristal Bravo. Her siblings are Jose, 17; Sergio, 16; Daisy, 15; Gasmin, 11; Yaretzi, 7; and Jonathan, 5. With little money and no rental history, the Bravo family asked a family friend, attorney Tony Manzanetti for help. Tony called the California Apartment Association who call HomePointe. With the help of a willing (2 comments)
Renting a property "site unseen". - 03/16/08 05:59 PM
With the internet and all the photos it has become more common for prospective renters to want to rent a property "site unseen". This used to happen once in a while before the internet, but it is more frequently requested now. Of course, the problem with this is that once they do see the property they suddenly get real interested in the cleanliness, the paint job, the carpet, etc. I wonder why they did not care about those things before they signed the rental agreement. Sometimes I think this happens because they want to get out of the deal. My policy is to (4 comments)
The search for the best Hamburger in Sacramento - 03/15/08 11:40 PM
This is a little off topic but I wanted to share with you my opinion of the best hamburger in Sacramento. My current favorite is The Habit. They are a small California Chain. Don't be turned off by the chain, I think they are ieach ndependently owned, but with a good formula. The hamburgers are great tasting and much better than Willies (which are good) and better than In and Out. It also has great fries, milk shakes, teryaki burgers, tri tip sandwhiches, and chicken. It has a limited menu and is a fast food style of ordering and self seating. (3 comments)
Who keeps late fees? - 03/15/08 11:19 PM
Property management companies around the country have different policies on who keeps late fees paid by the tenant. Late fees are charged to tenants when they pay their rent late. Who keeps the collected late fees is a contractual matter between the owner and their property manager. Most management companies have a standard policy in their contract on this subject. Some property management companies place collected late fees into the owners account and keep nothing. Some companies add the total late fees into the amount of total collections and keep a percentage of the late fees at the same rate they charge the owner (14 comments)
What are typical interior painting costs? - 03/14/08 02:13 PM
Painting costs can vary depending on many factors including wall condition, current wall color, type and color of paint to be used, to name a most considerations. In the rental business we usually pay on the lower end of the scale, but we do use only licensed and insured contractors to protect ourselves and our clients. We make sure the painting company carries workers compensation insurance for their employees. Typical costs run about $1.00 per square foot of house up to $1.50 if a primer coat is needed to prepare the walls. The cost of the paint is built into this price which (16 comments)
Rental Market Update March 2008 - 03/06/08 10:47 PM
The Sacramento rental market appears to be heating up. Our website activity has seen listing views rise from just over 6,000 page views per day in mid February to over 9,000 page views as of March 6, 2008. That is a 50% increase in activity. Our property managers are reporting increased traffic at our rental open houses. Our three offices in the greater Sacramento area rented 60 properties in Feburary. This is a small amount higher than our monthly goal of renting 50, but it is almost 20% more. We are seeing the result of the sluggish sales market. Forclosures are removing some housing stock and since buyers (1 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.