After presenting the July seminar on estate planning for apartment owners, I had the privilege to review the estate plans of dozens of owners. The review confirmed my concern about common mistakes in estate planning by apartment owners.
Let’s face it – in this business of landlording, we certainly can run across some unusual circumstances. Many times, it’s difficult to know what to do but sometimes, we are even at a loss for words.
While many property owners are familiar with the established guidelines for owner move-in (OMI) tenancy terminations, most have limited knowledge of the rules regulating relative move-ins (RMI) pursuant to the SF Rent Ordinance. Following is an overview of the rules to ensure that you are
During the course of your professional career as a property management executive, building new compensation plans will be one of the most important projects you ever undertake. In fact, this project has the potential to be an explosive issue for your team of SuperStars and must be designed with great care. The information in this…
“Steve, didn’t you say that once mortgage rates fall to X% that house prices would soar? Aren’t we there now?”
I often refer to landlording and managing as the 10% job that earns the other 90% of every rent dollar I collect! I have always charged 10% to manage properties, although I only do it for myself nowadays. I might just add, however; I’d be more than happy to pay any professional manager 10% of…
What maintenance you do on a building depends a lot on when you plan to sell it or how long you expect the tenants to stay. To decide, you must look at three things:
Landlords and “fix and flip” investors frequently upgrade their investment properties to increase their profitability before acquiring tenants or selling the units. Renovations related to plumbing, electric, roofing, or other major systems often require
If you’ve been managing rentals for a while, it’s likely you’ve received requests for tenant references. When your current or former tenants are looking for a new apartment, your contact information may be submitted to their future landlord as a reference. Similar to how you request landlord references and complete a
Do you know that the U.S. state which produces the most vegetables by far is going through the worst drought it has ever experienced? Do you know that the size of the total U.S. cattle herd is now the smallest that it has been since 1951, even though our population has doubled since then? Do…