Commercial Real Estate Remains Soft But Favors Business Expansion

real estate investingThe National Association of Realtors® is reporting that the commercial real estate sectors including Multifamily continue to be hurt by weak job growth, but are offering incentives in many areas that are conducive to business expansion.
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Posted by: Kim on 09.05.2010

Tip #72: The Mini Blind Dilemma – Clean or Replace?

by James Safonov

Sadly this is a recurring issue with rental property – should fully functional but very dirty mini blinds be cleaned after a tenant vacates or just replaced?

landlord helpI have several cleaning vendors who nearly all say the same thing: “We will clean the blinds for you, but it will cost you more to clean them than it will to replace them.”

I understand that disposing of perfectly good items to save a buck is one of the reasons people in far lands despise our great Country… but try telling that to a property owner trying to maximize their annual yield while holding onto a rental property they are upside down in on their mortgage.

If anybody wants to weigh in on this issue I am happy to hear it.

P.S. Here are some additional thoughts from fellow professional property managers on The Mini Blind Dilemma:

Dirty mini-blinds is no different than dirty carpets, counter tops and pottys… they should all be left in “Rent Ready” condition.  We provide cleaning instructions both as an attachment to the Lease, as well as a copy upon move-out notice.  Simply put – blinds (and windows) are expected to be clean.  If not, our make-ready crew will clean them and the Tenant is then back-charged.  J.S.

Replacing is cheaper for the clients so they should do that and then donate the blinds to the local GoodWill or some other charity who could use, clean and give to someone else. It would help the owner and someone else. L.A.

James Safonov, is a property manager with HomePointe in Sacramento, California, jsafonov@homepointe.com. HomePointe provides full service property management, leasing, accounting, and maintenance.

See James Safonov’s feature, Security Deposit Dispute: Settle, or Sue?

See last week’s Landlord Quick Tip.

Have a quick tip to share with other landlords?  Email our editor at kim@joinaaoa.org.

American Apartment Owners Association offers discounts on products and services for landlords related to your commercial housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

Posted by: Kim on 09.05.2010

landlord helpA jury in Ypsilanti, Michigan has just awarded $115,000 in damages against a property manager for sexually harassing female residents in rental properties. Sexual harassment is a violation of the federal Fair Housing Act.

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Posted by: Kim on 09.05.2010

landlord helpThe State of Maine has passed a law requiring landlords to test all rental properties for radon.

In addition, a written disclosure statement must be given to each tenant, informing them of the risks of radon exposure. Those risks include lung cancer.

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Posted by: Kim on 09.05.2010

landlord helpTwo Cleveland-area landlords are facing charges of discrimination for statements made to a prospective tenant.

The government claims that the African-American landlords discriminated against a Hispanic woman when they suggested that she would not feel comfortable in a predominantly black neighborhood, and that the statements were intended to discourage her from renting there.

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Posted by: Kim on 09.02.2010

Many Reiterate NMHC/NAA’s Call for Balanced Housing Policy

landlord helpWASHINGTON, DC – Reform of the housing finance system must address the specific needs of the multifamily industry and must be done in the context of rebalancing our national housing policy. That was one of the recurring themes at yesterday’s White House Conference on the Future of Housing Finance.

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Posted by: Kim on 09.02.2010

landlord helpShould landlords allow tenants to work out of  residential rental property?

Before you say “yes” to an applicant,  consider the pros and cons.

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Posted by: Kim on 09.02.2010

by Charles Brown

landlord helpQ. Are race, color, religion, sex, national origin, familial status and handicap the only protected classes?

A. These seven categories are the only protected classes under the Fair Housing Amendments Act of 1988. However, many state and local governments often have their own laws and ordinances making housing discrimination illegal, and may include categories in addition to the ones protected by the federal law.

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Posted by: Kim on 08.29.2010
Alternatives exist if ceiling joists make job difficult

by Bill and Kevin Burnett, Inman News

landlord helpQ: I co-own a duplex in San Francisco that was built around 1912. This was a single-family home that was converted to two flats. I occupy the upstairs flat.

In 1979, a 16-by-24-foot addition was built on the ground floor, first floor and top floor. On the top floor, a wall separates the kitchen from the rest of this area. On the other two floors there is no wall in this area. This wall goes floor to ceiling, is 9 1/2 feet long and runs parallel to the 16-foot dimension (of the addition).

Can I assume that because no wall exists in this place on any of the other floors, this is not a weight-bearing wall? How can I tell? Do I need to bring in an engineer?

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Posted by: Kim on 08.29.2010
Rent it Right
 
by Janet Portman, Inman News

landlord helpQ: The street in front of my apartment building has become a popular spot for day laborers to hang out and wait for jobs. The place is quite messy and my tenants are upset. They don’t like having to walk through the crowd, say they feel intimidated, and have asked me to do something about it or they’ll move out. I’m also worried that if they are harmed, I’ll be responsible. Any suggestions? –Arnold J.

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Posted by: Kim on 08.29.2010
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