Credit Reports: Do You Know Your Options?

Instant Credit Analysis

Today, tenant credit screening is easy.

In a matter of seconds, you can receive a green light approval on a prospective, a red flag decline, or a warning that you may need to dig deeper with that prospect.  Read the rest of this entry »

Posted by Kim Ezzell on 08.28.2008. CLICK to Leave a Comment »

Filed under: AAOA Forum, Credit Screening

Better Choice: Fund IRA or Pay Down the Mortgage?

by Ilyce Glink, Inman News

Q: I am 61 years old and have about $500 a month to use either in funding my Roth IRA or paying down my mortgage.

Currently, my mortgage is for 15 years at 5.81 percent. I plan on retiring in June 2009. Which should I do? Read the rest of this entry »

Posted by Kim Ezzell on 08.28.2008. 3 Comments »

Filed under: AAOA Forum, Financing

How to Eliminate Heat Loss Through Floors

by Bill and Kevin Burnett, Inman News

Q: We have a frame house with a stucco exterior. Part of it is over a crawl space about 3 feet high. The house is bolted to the foundation and the exterior stucco covers the walls down to the ground. On the inside of the crawl space, I can see the 1-by-8 redwood backing for the stucco and we have no problems with termites.

I’d like to improve the insulation and make the house more earthquake-safe. Would it be better to insulate under the floor that is accessible from the crawl space or insulate the short exposed walls in the crawl space? Is it a good idea to put plywood as shear-wall bracing over the short exposed walls inside of the crawl space, which would then cover the insulation? Must I drill any holes for ventilation in the plywood? There are vents for the crawl space that I’d leave open by not covering them. Read the rest of this entry »

Posted by Kim Ezzell on 08.28.2008. 1 Comment »

Filed under: AAOA Forum

Interest On Your Money Can Pay for 1031 Exchange Fees

Tell Me About My Money…

That The Intermediary Holds During an Exchange

by Ken Tharp, Iowa Equity Exchange

As a Qualified Intermediary, Iowa Equity Exchange has the very specific role of guiding the investor through a §1031 exchange. We inform the investor of exchange requirements, produce the necessary exchange documents, provide the critical time monitoring procedures required, and manage the investor’s funds while in our possession.

First let’s discuss the earnings that your account generates while it is in the care of the intermediary.

Did you know that many intermediary services earn the majority of their income from the interest that your account generates for them while they hold it!?

By paying their clients little or no interest on their funds, they pocket the lion’s share of the earnings from your money.

We do not believe that is fair or reasonable.  Read the rest of this entry »

Posted by Kim Ezzell on 08.25.2008. 1 Comment »

Filed under: 1031 Exchange, AAOA Forum

Power Tools Make House Painting A Cinch

by Paul Bianchina, Inman News

A sure-fire way to make your home look better, prolong the life of your siding and add resale value all at once is to give the exterior a fresh coat of paint.

But with a contractor paint job running in the thousands of dollars, you may be considering undertaking the task on your own this summer.

If so, here are some tips and a couple of new tools from Wagner that will help you get the job done quickly with professional results.

Proper Preparation

Proper preparation of the siding is absolutely essential to a good-quality, long-lasting paint job. Loose and peeling paint must be removed first and the edges of the remaining paint feathered down to create a smooth surface for the next coat. Painting over old paint that is not well-adhered is pretty much a guarantee that the new paint job will fail. There is no way around this less-than-enjoyable task, so just resign yourself to it.
Read the rest of this entry »

Posted by Kim Ezzell on 08.25.2008. 2 Comments »

Filed under: AAOA Forum

Tenant is Always Liable for Utilities, Right? Think Again

If you believe that your tenant is always liable for utilities, you might want to think again.

Philadelphia Gas Works, in the 165 years that it’s powered our sixth largest city, has grown weary of the financial drain caused by deadbeat tenants who skip out on the bills.

Now, it will look to landlords to do something about it.

The rationale: Why pass the cost on to all of Philly’s customers, when it’s the landlords who benefit from the access to gas service on their properties.

This is not an uncommon position. In fact, many utility companies around the country require the property owner, as a condition to receiving service, to sign up as a ‘reverter’, the party that becomes liable when the tenant moves out. Of course, the landlord is also liable for payment of services during any period of vacancy.

But PGW has taken it a step further. With the backing of the state’s legislature, it revived an antiquated law that allows it to levy liens – not on the tenant, but on the rental property itself.

Read the rest of this entry »

Posted by Kim Ezzell on 08.25.2008. 8 Comments »

Filed under: AAOA Forum

What a Landlord Needs to Know When Tenants Divorce

While the divorce rate in this country fortunately is in a downward trend, divorce is still a contingency that landlords will likely encounter at some point. 

Do you know what to do when your tenants divorce?

Here are some tips:

Read the rest of this entry »

Posted by Kim Ezzell on 08.25.2008. 2 Comments »

Filed under: AAOA Forum

Option ARM Fallout to Surpass Subprime Mess

by Tom Kelly, Inman News

In a recent column, shortly after Washington Mutual announced it would no longer offer its option adjustable-rate mortgage (ARM) to home buyers, I noted that the program was a benefit to our family because it allowed us to adjust our monthly payments given the educational needs of our four growing children.

I pointed out that three of the four payment options of the option ARM did not render negative amortization, yet too many consumers stayed with the minimum payment for far too long and owed more than they borrowed. Read the rest of this entry »

Posted by Kim Ezzell on 08.21.2008. 1 Comment »

Filed under: AAOA Forum, Financing

Train Your Tenants to Keep Your Carpet Clean

by Julie Murphy

Leaving Shoes at the Door Saves Money!

Since replacing the carpet yearly is not really on option, ongoing carpet care is one of the best ways to protect a major investment in your properties.

As a landlord, protective and preventative maintenance is really the best tactic, rather than trying to clean up messes afterwards.

Basic necessary steps to ensure carpet cleanliness are:  Read the rest of this entry »

Posted by Kim Ezzell on 08.21.2008. CLICK to Leave a Comment »

Filed under: AAOA Forum

Hansel and Gretel`s Town Ordered to `Go Green`

by Louisa May

Marburg, Germany, a peaceful Renaissance city on a hill, has long been a tourist destination. Its medieval attractions, dating back to the 1200’s, include a castle and the Gothic shrine of St. Elizabeth, a sacred treasure of the Elizabeth Church. The Brothers Grimm studied at the University of Marburg, a school founded in 1527, making it the oldest Protestant university in the world. And Rapunzel’s tower is on the other side of the forest- in fact, many of the Grimm fairy tales were collected here. So, why is this picturesque place suddenly a hotbed of environmental ordinance hostility? Read the rest of this entry »

Posted by Kim Ezzell on 08.21.2008. CLICK to Leave a Comment »

Filed under: AAOA Forum, Going Green