As Broker of a small, service based property management company serving Landlords in the greater Sacramento area, we do our best to stay at the top of the learning curve.
I recently attended a class offered through a professional organization called NARPM (National Association of Residential Property Managers). While much of the material covered we found to be derivative of previous legal classes attended, we always come away with at least a few valuable pieces of information. I was happy to see many of my peers in the industry in attendance, though being "sardined" into a room designed for 40 occupants when 55 showed up was a bit stuffy. It was a small price to pay for our clients to get that much more knowledge from their broker.
Boiling down 3 hours of listening to an attorney lecture, we came away with the following (there was more, but these were the bullet points):
1. Pools must be equipped with a safety drain (following an unfortunate incident somewhere involving a disembowelment via someone being trapped by an unsafe pool drain).
2. Landlords and Property Managers alike must take appropriate steps to guard against ID theft by having concise credit screening procedures whereby any and all addresses listed on a credit report are accounted for.
3. In an attempt to stem the flow of frivolous "drive-by lawsuits" filed in the name of ADA compliance, Architectural firms are offering ADA compliance inspections for businesses that feel the need for such measures.
4. Victims of domestic violence (abuse, stalking, etc.) have the right to break their lease under a new law in effect. While they can be held to a 30-day notice along with charges for any normal turnover maintenance costs (less wear and tear), they cannot be charged any penalty (advertising, leasing fee, etc.).
As anticipated, we spent entirely too much time talking about the foreclosure market and how to handle any one of 100 different scenarios involving property management, tenant/landlord relations and what happens during the foreclosure process.
If you or you client(s) have a question about property management, tenant/landlord relations, rental trends or rates for a particular area, give us a call or email as we are happy to assist in any way possible.
Investors Choice Property Management (ICPM) manages 100 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say:
“Experience Property Management the Way it Should Be.”