What Active Rain Can Do For You - 08/27/08 06:55 PM
Late last year, I think it was Christmas Eve, a local realtor invited me to join Active Rain.  I went to the website, www.ActiveRain.com to check it out.  I noted that it was a place for those in the real estate industry to blog about anything and comment about any blog.  It was an easy decision to give it a try since it was, and continues to be free (except for the time spent if you develop a habit of checking in frequently).   What a fine Christmas present from Zeny Winn!
What I have found over the past 8 months is … (11 comments)

Racism is Still Alive in Sacramento - 08/26/08 12:06 AM
We had two things happen at our company this weekend that makes you wonder. 

I received an email from a new client that read in part as follows:  "A Black Lady showed my houe to a Black couple.  My house was shown to some people whose vehicle cost less than a months rent." 
Now, it is true that we employ several leasing agents, but what color they are is not really an issue for us.  If they show up on time and are presentable, we think that is win win.  What rental property owner in this day and age cares what … (16 comments)

City of Sacramento Rental Inspection Program Information Meeting - 08/23/08 12:14 AM
On Thursday morning the City of Sacramento held a public information meeting at the Sam Pannel Center at 2450 Meadowview Road.
The meeting had several speakers with booths surrounding the the seating.  Max Fernandez runs Code Enforcement and his main point was that the city wants to make the program work.  He offered his phone number for anyone with issues or comments.  It is 916-808-7940.
Other speakers were Cory Kohler from the Regional Housing Association, Betty Gwaizdon from the Human Rights and Fair Housing Commission, and finally, Randy Stratton who runs the new inspection program.
Here is a quick overview of … (4 comments)

Do you rent houses to Corporations? - 08/15/08 11:24 AM
Once in while we have requests from a business entity to rent a house.  The business may have moved an employee to our city and they want to cover the costs for that employee.
It is our practice to take applications from the people that are to occupy the house.  It is too easy to dummy up a business and tax return, harder to dummy up a consumer credit report. Plus, a business may dissolve, but a consumer is not likely to dissolve.
So, if a company wants to rent from you, tell them that the people living in the property … (11 comments)

What is the True Bottom of the Market? - 08/12/08 01:06 AM
There are many answers to this question, but for me, the true bottom is when investors buy single family dwellings because the rent they can get on a cash deal will support the price. 
If a property will rent for $1,000.00 a month it will generate $12,000.00 in a year.  If that property can be purchsed for say $100,000.00 the return over a year on that investment is 12%.  (note:  the actual net might be something closer to $6,000.00 after all expenses, so the return would be 6%). 
An investor would be attracted to this deal because the return is better than … (2 comments)

Who is Responsible When a Shared Fence Falls Down? - 08/12/08 12:13 AM

 A shared fence is a fence built on the property line between two adjoining parcels.  Each owner shares the fence equally.  If the fence needs repairs or falls down and needs to be replaced, each owner should chip in one half the cost.

There are many ways to handle the issue.  The two owners could spend the weekend buying the materials together and then jointly builidng the fence and then make a trip to the dump to get rid of the old materials.  In today's busy world, I suspect one owner will make arrangements and the other will simply … (4 comments)

City of Sacramento Rental Inspection Program - 08/07/08 05:34 PM
The City of Sacramento is holding two informational workshops on the new Rental Inspection Program.  City staff will present information on the new program and answer questions from property owners and managers.
Thursday August 21, 2008  9:30 am -11 am  Samuel Pannell Center 2450 Meadowview Road
Thursday August 28, 2008 6:30 pm - 8:00 pm South Natomas Center 2921 Truxel Road
Agenda Topics include:  Purpose, What to Expect During an Inspection, Top Ten Violations.
I will attend these meetings and give an overview after each meeting.
www.HomePointe.com
 
… (2 comments)

Renting As Is - 08/05/08 12:10 AM
 
 Some of our clients want to rent their homes with some of the items "as is".  They might tell us that the washer and dryer can stay, but they do not want to fix them.  Or, they don't have a way to move their refrigerator, so can they leave it in the house, but rent it "as is".
Is this a good idea?
I think it is a bad idea for a couple of reasons. 
First, what happens when the refrigerater goes out one week after the tenant takes possession?  I can tell you with some certainty, that the tenant will … (8 comments)

10 Reasons Using Professional Property Management Pays for Investors - 08/03/08 05:30 PM
 
It is cheap.  With tax write offs the investor gets close to a 50% discount. Decisions are made with current laws in mind. The investor's insurance company protects both the investor and the property manager for one price.  It does not cost extra to cover the property manager. Tenants get 24/7 access to repairs. All bills can get paid by the property manager, no rent collection, no bank deposits, no check writing, and no stamps! Many property manager's are starting to offer online access to statements and bills, so no need to maintain a filing system.  I do suggest downloading … (3 comments)

Verifying Ownership of Property Management Clients - 08/02/08 06:58 PM
I suggest that all property management companies verify who is on title of each new account.  This is an insurance policy for the property manager for a couple of reasons.
First, you will know that the person signing the agreement is the owner.  There are scams out there where people obtain the keys of a vacant house and rent the home out to an unsuspecting tenant.  Taken one step further, this could be done via a property manager.
Second, there may be a trust or other type of ownership holding title.  In that case the property manager should obtrain documentation on … (9 comments)