A contiguous owner in a three-level apartment-style condo caused a fire in her unit while smoking in bed. The ashes ignited bedding while she was breathing through her medically necessary oxygen tubes. She: (1) smoked in bed, (2) fell asleep and (3) was attached to oxygen tubes. The combination of all three is unsafe. Her…
Types of Real Estate Partnership Agreements You know the deal structure – one investor brings in a few other investors or one investor purchases an investment with another investor. Here are a few different real estate partnership agreement scenarios: A property management company purchases a property with a “money guy” who is a partner who…
As a property owner, you want your asset to maintain value as much as possible, regardless of whether you live in the unit or rent it to someone else. Of course, you’ll always take great care of the property you live in, but you can’t always guarantee your tenants will do the same. Here are…
The majority of America’s 44 million rental households are living in homes owned by small entrepreneurs who are likely to be local residents. That’s among the findings of a survey from the Real Property Management franchise which reveals that the difference between the perception of the ownership of the rental market and the reality. The…
A handful of startups are betting they can help apartment-building owners convert empty units into hotel rooms, a controversial practice that could help landlords generate more revenue. The rise of home-sharing services such as Airbnb Inc. has been a boon for owners of single-family homes looking to make extra money by renting out their properties….
AAOA Member Question: As an owner of a small apartment complex, I’ve had to deal with criminal activity on my rental properties in the past. I started running criminal background checks with AAOA a few years back to increase safety for my residents. I’d like to make a rule to not rent to anyone with…
To many landlords, property management services are superfluous, cutting their profit margins to a minimum in exchange for basic services. But the reality is that property managers can make your life extraordinarily easier—and most charge a reasonable enough rate that you can draw a monthly profit from your properties (headache-free). However, when you’re searching for…
In 2005, everyone I knew was buying real estate. With no experience and no money, they bought properties they couldn’t afford and were convinced they were going to make a fortune. Unfortunately, it didn’t work out that way, and most of them now have a foreclosure or short sale in their past. Does that make…
We have a rental property that we would like to sell to our son and his wife. The problem is that we have not lived in the house as our primary residence for the required two years and therefore would have to pay a considerable amount in capital gains. Is there any kind of rent-to-buy…
In dazzling summer sunshine, everything in a home looks great. But… and it’s a big but! Buyers can be distracted by strategic staging, clever decor, and time pressures. They benefit from stepping back to determine whether the home they’re considering will require expensive additions or overhauls to keep everyone safe—not just this summer, but every day of…