I am often asked about the value of hiring a property manager. Many property owners mistakenly believe that all a property manager does is “collect the rents”. There is much more to managing a property and I believe the cost associated with hiring a professional property manager is paid back in many ways. (more…)
Lead based paint has been an important issue since March 6th, 1996, when the Environmental Protection Agency (EPA) & Housing & Urban Development (HUD) released regulations on the Residential Lead Based Paint Hazard Control Act. Property Managers and Landlords nationwide have worked to comply with the law. Additionally, the Lead-Based Paint Pre-Renovation Education Rule was invoked, which requires notification to occupants in advance of work that could disturb lead-based paint. (more…)
Most Landlords are not open to the idea of renting to tenants with pets. To be honest, this is understandable because I have seen situations where tenants have allowed their pets to cause considerable damage. When faced with the issue of pets, property managers and/or landlords need to use a logical approach. Saying “NO” to a pet right away can lead to illegal pets or possibly missing a good tenant. (more…)
It often seems that a property owner does not have any rights and that tenants call the shots, the courts only rule in favor of the tenant, and the attorneys end up with all the money. Just look at the multi million dollar lawsuits that have happened regarding mold, lead-based paint, Fair Housing, and more. In fact, we do our best to keep owners apprised of the legislation and legal actions that are continually happening. However, there is another perspective to landlord and tenant rights. (more…)
How would you rate your knowledge as a landlord. Being a landlord is more than just collecting rents. Understanding landlord/tenant law is the best protection for a landlord other than hiring a professional property manager. (more…)
With today’s rising rents, lower interest rates and property values, buying an investment property may be a good addition to your financial portfolio. Before you make the decision to purchase you should consider the following:
Check with your CPA or financial planner: Current tax laws favor investors. Depreciation and principal reduction can build wealth over time. Holding a rental property until its owned free and clear can be a good source of retirement income
Compare recent sales and rents: Look at what has sold recently and what income it generates. Are certain areas generating better rents? What down payment do you need to generate the return you are looking for? (more…)
Many people think tenant screening means only obtaining a current credit report. Credit information is important and in today’s rental market, they contain more details than ever before. There are continual changes to the Fair Credit Reporting Act, FCRA, because landlords, employers, and businesses consider credit ratings a valuable resource.
Then why is a credit report not enough? Running a credit history and relying on just one area for approving an applicant is simply not thorough enough. A credit report just does not give you all the information you need to make a decision about a prospective tenant. To make the most informed and educated decision about the person you are considering you need several sources to give you a “complete picture”. (more…)
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Capitola, CA 95010
DRE #01526597
The Corporation is Capitola Financial
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