landlords: Landlords Stuck With Tenants' Unpaid Water Bills: City May Offer Reprieve - 08/05/11 01:03 PM
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...)
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landlords: New Landlord Horror Film Promises to Scare Tenants - 03/03/11 04:40 AM
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 … (2 comments)

landlords: Landord Challenges Zoning Restrictions - 12/01/10 03:55 AM
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...
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. … (1 comments)

landlords: Judges Nix Town's Attempt to Fine Landlords - 09/11/10 12:25 PM
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...
American Apartment Owners Association offers discounts on products and services for landlords related to your commercial housing investment, including rental forms, tenant debt collection, … (2 comments)

landlords: Rent-to-Own Transactions Move into the Mainstream - 06/25/10 07:06 AM
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 … (1 comments)

landlords: Landlords Are Applauding City's New Rental Law - 05/26/10 08:10 AM

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.  
American Apartment Owners Association offers discounts on … (1 comments)

landlords: City Targets Out-of-Town Landlords - 05/16/10 12:53 PM
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....
… (2 comments)

landlords: Landlord Can't Evict Disruptive Tenants - 04/19/10 10:08 AM
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 … (3 comments)

landlords: "Crime-Free" Certificate Could Attract Tenants, Reduce Landlord Liability - 03/10/10 02:13 AM
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 … (2 comments)

landlords: Green Rules Put Landlords in the Red - 12/13/09 08:52 AM
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 … (3 comments)

landlords: Evicted Tenant Enjoys Celebrity Status - 07/31/09 05:23 AM
Easter Bunny Tenant to Appear on Colbert?  
You may remember our eviction story, Landlord Gives Easter Bunny the Boot.  When a tenant set up a display of Easter Bunny Peeps on her interior door, no one bothered her. 
But, when she left it there for a couple weeks past Easter, the landlord became concerned that the sugary decorations would attract pests and posed a hazard to other tenants.  
When they asked her to take it down, the tenant refused, claiming she had the support of her neighbors.  When the landlord took it down for her, she responded by refusing to … (1 comments)

landlords: What Do You Know About Section 8? - 05/19/09 06:08 AM
(Editor's Note:  AAOA received this question from our member S.C:  "Can you please publish an article on the pros and cons of Section 8 housing? Do you have any existing material on this topic?  I would very much like to hear what other landlords think about Section 8.")
Do you have any experiences with Section 8 to share with other landlords?  Do you avoid Section 8 housing?  Please comment below.
What is Section 8?
Section 8 is an affordable housing program run by HUD. This program is administered locally. It is a voluntary program.
Individuals who cannot afford a place to live … (6 comments)

landlords: New Study Debunks Foreclosure Numbers, Impact - 03/11/09 09:46 AM
National housing price declines and foreclosures have not been as severe as some analyses have indicated, and they are not as important as financial manipulations in bringing on the global recession, according to a new analysis of foreclosures in 50 states, 35 metropolitan areas and 236 counties by University of Virginia professor William Lucy and graduate student Jeff Herlitz.
Foreclosures Concentrated in Four States  (read more)
See more on Real Estate Financing.
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 … (0 comments)

landlords: Obama Budget Nips Mortgage Interest Deduction - 03/02/09 05:50 AM
The National Association of Realtors®, which has supported the Obama administration's housing and stimulus plans, is opposed to the budget proposal that would reduce the mortgage interest deduction for thousands of families.In a letter sent today to President Obama, NAR President Charles McMillan said, "There is never a good time to propose something that undermines the basic foundation of homeownership, but given our current housing crisis, this has to be the worst possible time." Read more...
See our feature A Cure for Foreclosures?
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate … (1 comments)

landlords: Property Tax Increases Are Lowering Property Values - 02/06/09 07:30 AM
As if sinking property values and rising energy costs aren't enough to contend with, property owners across the country are being hit with increased property tax assessments. 
The problem is two-fold:  First, the assessed values are grossly outdated and do not reflect the average loss in value for the community.  In addition, some local governments are increasing the tax rates on property owners to compensate for huge losses in investments and state aid.
These tax increases have a disturbing affect in that they actually lower the property's value even more. Read more....
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landlords: Fannie Mae Becomes Reluctant Landlord - 02/06/09 07:26 AM
Fannie Mae Announces National REO Rental Policy:  Renters in Fannie Mae-Owned Foreclosed Properties Eligible to Stay in Their Homes WASHINGTON, DC - Fannie Mae announced the establishment of a new National Real Estate Owned (REO) Rental Policy that will allow qualified renters in Fannie Mae-owned foreclosed properties to stay in their homes.
The company already had an eviction suspension in place, which will allow for the new policy to be fully operationalized prior to the suspension concluding. "Renters in foreclosed properties have often been a casualty of the foreclosure crisis the country is facing," said Michael Williams, chief operating officer of Fannie Mae. … (1 comments)

landlords: Good News for Home Sales, Bad News for Rentals - 02/06/09 07:22 AM
Pending home sales inched up in December, and while that doesn't herald the end to the real estate crisis, it is good news for real estate investors.  
But news wasn't as good for those wanting to hold rental properties:  The U.S. Census Bureau reported this week that the rental vacancy rate inched up again in the 4th quarter, to an average 10.1 percent. This represents an increase over 4th quarter 2007, but not over the past quarter. 
The results show that cities and suburbs are affected equally, which may account for the rumors that landlord concessions in NYC are becoming widespread.   Read more....
See our feature, Rents Decline for First Time in Five Years.
American Apartment … (0 comments)

landlords: Tenant Screening: Accessing Bad Check Databases - 01/23/09 05:10 AM
Wouldn't you like to find out if an applicant has written a bad check before you rent to them, or make sure the check they offered to you is good before you accept it and give them the keys to your property?
The TeleCheck® Check Verification Service is available to all AAOA members, including free members, either alone or with an AAOA screening package.
An applicant's check writing history can indicate what type of renter they will be.  Read more...
To access the service visit www.joinaaoa.org, and sign up for one of our membership options, including free membership, or our new limited membership that allows … (1 comments)

landlords: Greening the White House-It`s Not Just About the Light Bulbs. It`s About Jobs - 01/21/09 03:39 AM
 
By making even moderate changes to renewable energy and energy efficiency policies at the Federal level, the new administration can create jobs. These policy changes will help workers put gas in their cars, food on their tables, and give people hope and reason to care about the little: picking up those flimsy plastic bags littering our neighborhoods, and the big: creating a sustainable future for our children and grandchildren.
The American Solar Energy Society released a report on January 15, 2009 stating that "green" industries generated $10.3 billion in sales and accounted for more than 4% of Colorado's state product … (1 comments)

landlords: Rents Show First Decline in Over Five Years While Vacancy Rates Go Up - 01/14/09 08:10 AM
U.S. apartment rents fell in the fourth quarter from the third as the national vacancy rate climbed to a four-year high of 6.6 percent, according to a report just published by Reis Inc., a New York-based research firm.The report defies the expectation that apartments would benefit from the housing slump as job losses and lower wages are cutting into the pool of potential renters in their twenties and thirties.  Read more.
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American Apartment Owners Association offers discounts on products and services related to your commercial housing investment including REAL ESTATE FORMS, tenant debt collection, tenant … (2 comments)