AAOA Blog

As AAOA explores opportunities to serve our members, we are looking into ways to create a social networking platform just for you. 

AAOA has the power to drive traffic to the site so others will find your business or your listings.

Some options for the site include:

• a place to host your business profile page, which allows you ample space to advertise what you do and the option to update the profile freely to keep the information current;

• a platform for your private blog, where you upload your content (articles, news stories, announcements) for others to review;

• a forum to post questions to get advice from other landlords;

• or, a space to list classified ads.  

You could share referrals on tenants, form or join a group of like-minded landlords, access landlord information and tools, or have a space to advertise your rental on the Internet. 

If a social networking site hosted by AAOA interests you, please take a moment to click “yes” on our member survey. (more…)

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Auto Expenses You Can Actually Deduct

by Niman Singh

TReXGlobal.com

Vehicle expenses paid exclusively for rental activity can be fully deductible.

Using the actual expense method instead of standard mileage might be more beneficial if your vehicle incurred a lot of expenses during the year.

Usually the largest vehicle expense that you can deduct is depreciation, which allows you to deduct the value of your vehicle over a period of 5 years.

Many times, depreciation is the factor that determines which expense method will be used. (more…)

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by Louisa May

What does actor and environmentalist Robert Redford have in common with Leo Gerard, President of United Steelworkers of America and Regis McKenna, founder of a high – tech marketing firm in Silicon Valley?

They are all Board members Of Apollo Alliance, a coalition of business, labor, environmental groups, and community leaders.

Former California State Treasurer Phil Angelides is the Chairman of the Board at Apollo Alliance, where the vision is big.

Their mission is to “catalyze a clean energy revolution in America, to reduce our nation’s dependence on foreign oil, cut the carbon emissions that are destabilizing our climate, and expand opportunities for American businessmen and workers.” It’s about clean, renewable energy, it’s about jobs, and it’s about time.

(more…)

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by Robert Griswold

Q: After a two-year tenancy I gave my apartment manager written notice that I would be moving out, and I moved out four days prior to the end of my lease.

I even stayed with a friend before moving out of state so that my apartment manager would have enough time to do a walkthrough and suggest any additional cleaning and or repairs that needed to be done to receive my full security deposit back.

She walked through and told me that everything looked perfect and that I would be refunded my entire deposit within the legally required time limit.

But after moving out of state as planned, I received a check with a $75 carpet cleaning fee and a $32 apartment cleaning fee deducted from my deposit. I immediately contacted her because not only had she agreed that she would return the full amount of my deposit, I feel that the charges were unfair and illegal. If I knew that the carpet needed to be professionally cleaned I could have hired a carpet cleaning company for $50 instead of $75. (more…)

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by Sandy Shores,  M & M Real Estate

Investors always ask what kind of property they should buy.

Many start the business thinking that a multi unit building is their best bet. My recommendation to them is to start with a single family house.

I do not invest in small multi family complexes. I prefer single family houses for rental units. I have had many investors that have experienced the best and worst of both types of properties.

I find that single family properties are easier to buy, sell, rent, own and manage than multi family units. (more…)

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by Ilyce Glink, Inman News

My mailbox has been filled with letters from readers who wonder if the real estate market will reset itself now that the presidential election is over.”Can we expect the next four years to bring us a better real estate market? Will my house go back up in value,” one reader wrote.

Eventually, the real estate market will hit bottom and turn around. Perhaps it has already hit bottom (one can only hope), and now we are waiting for the “bumpy bottom,” as Alex Perriello, president and CEO of the Realogy Franchise Group, put it at the launch of its newest franchise, Better Homes & Garden Real Estate. (more…)

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by Howard Bell, Your Property Path

FDIC Proposes to Guarantee 2.2 Million in Modified Loans

The idea is to help borrowers with weak credit or small down payments.

Borrowers would get lowered interest rates or longer loan terms to lower payments.

This program can last for a period of time, giving owners some breathing room. The program would attempt to keep monthly payments under 31% for weak borrowers. 

According to the FDIC site: The pace of loan modifications continues to be extremely slow (around 4 percent of seriously delinquent loans each month).  (more…)

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by Paul Bianchina

Over time, many homes develop little nonstructural problem areas that need to be dealt with, and it seems like the older the house, the more of those little problems that occur.

Here’s some advice on fixing a few of the more common door and trim situations you might typically encounter. (more…)

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by Janet Portman, Inman News

Q: One of my neighbors informed me that one of my newest tenants is a registered sex offender (I’m not sure how she found this out).

He stated on his rental application that he had a three-year-old felony conviction, but he did not report details.  

Figuring that everyone deserves a chance, I did not ask further and rented to him and his wife and two young children, giving them a yearlong lease. They’ve caused no problems. Our local sheriff’s department plans to notify the neighbors of his address and criminal history.

I’m concerned about the safety of this man and his family, as well as how I should handle this situation with the neighbors. Can you please provide me with some guidance on how I should proceed? –Jan

A: You’ve encountered one of the most difficult situations a landlord can find herself in. Unfortunately, there are no easy answers. (more…)

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by Ilyce Glink, Inman News

When setting up your household budget, you have to think about big-ticket items, such as how much should you spend on your rent or mortgage payments, how much should you budget for utilities in a new home, and what will it cost you to buy homeowner or renter insurance to fully protect yourself in case of catastrophe.But more trivial expenses, like how much you’re going to spend on the average Saturday night out and what kinds of cable bills you’ll be paying are important pieces of a household budget as well. And with the cost of food and fuel rising, you might need to pare back on your household entertainment expenses if your heating bill is skyrocketing.

Knowing what your household expenses will be before you move into your new home may be time-consuming to calculate. But creating this kind of household budget before you move will make your financial life easier down the road.

Here’s how to create your own household budget: (more…)

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