April

April 26, 2016

The importance of Tenant keeping Utilities on….

If you’ve noticed a common thread to my posts, it is the critical nature of setting proper expectations for ALL PARTIES in a lease transaction.  In other words, it’s critical for the Tenant to know what is expected of them just as it is for the Landlord to know their role. Today’s article is about the need to properly and repeatedly communicate with Tenants about utilities.  And keeping them turned on! Now, most leases will have clauses in them about who pays for the utilities–Tenant or Landlord–and that is good to have this clarity.  Where I see the expectation “break down” between Tenant and Landlord or Tenant and Property Manager is this:  What about the time period when a Tenant voluntarily moves out of the home before the end of the lease and they turn off the utilities thinking they’ll save money? Case in Point:  The picture of this once-beautiful […]
April 19, 2016

Chipping away at your Property Rights….

Property rights continue to be under full assault. Here’s another recent article describing the Who/What/Where/Why…. http://www.foxnews.com/politics/2016/03/20/no-right-to-rent-cities-barring-property-owners-from-renting-out.html  
April 12, 2016

Liar Loans making a Comeback….future opportunity to buy more Rental units?

Have you seen this movie yet? If not, don’t worry….you will soon possibly be re-living it in just a few years. According to this WSJ article, similar loans are coming back around. (ADA Moment here:  Did ANYONE on Wall Street or in the lending world learn a damn thing since 2008 real estate meltdown?) Sigh….. Ok, now that I have that out of my system, here’s the link to read the entire article.  Liar Loans making a comeback Here’s my thoughts on this situation: Keep some of your powder dry.  With the reintroduction of these types of higher risk loans, this implies there will be good opportunities in the next 3-5 years to pick up more distressed properties. Greed is good….for you and I to take advantage of others hubris and ignorance.  Just make sure you don’t get too greedy.  Pigs get fat–hogs get slaughtered! Take stock of your current […]
April 6, 2016

For when the SHTF in your rental properties….

This post is one of those that isn’t fun to write or read for that matter, unless you’ve been there and done that.  Then you’ll immediately appreciate it. It WILL happen to you. Play the Landlord/rental/Property Manager game long enough and it happens.  A tenant trashes your property.  You have a flooded basement.  You have a fire.  The proverbial Shit hits the Fan. It’s easy to panic.  It’s easy to lose sleep, to not think clearly.  It is tough to regain your sense of control in situations like these, but it can be done.  With some advanced thinking and planning, you can and will survive. Here’s how to protect yourself when SHTF: Remember back to your childhood.  You likely enjoyed playing with Play-doh, right?  Remember the extruder toys where you put a ball of your favorite color into it and pressed the handle and out squirmed a shaped snake of […]