We’ve all heard variations of the famous quote: “There are three things that matter in property: location, location, location.” “There are three things to remember when valuing a property: 1-Location, 2-Location, and 3-Location.” “The top three keys to success in real estate are location, location, location.”
DetailsDeflation Executive Summary: For purposes of this article, a declining interest rate environment (the “back half” of an interest rate cycle) is the rising tide that benefits investors as a group. This is the period that investors live for. Net operating income goes up every year, seemingly with very little customer resistance. Payments on variable…
DetailsWhen the Great San Francisco Earthquake of 1906 struck, my great-grandfather was 14 years old living with his family at Pine and Van Ness. The property had suffered little more apparent damage than a downed chimney. So his father, seeing many other downed brick chimneys in the neighborhood, hastened him to the brick mason for…
DetailsEstate planning for apartment owners (or the owners of any income property) involves both opportunities and hazards for the owners. Too often, however, no one takes the time to explain the opportunities and hazards to owners, and they wind up with plans that do not fully meet their goals.
Question 1: One of our rental units comes equipped with a dishwasher. The dishwasher is not working properly and the owner does not want to pay to have it replaced or repaired. The tenant states that as she rented it with the dishwasher working, the Owner must replace or repair it no matter the cost.…
DetailsDear Dan: When you hire a lawyer and you ask for an idea of what it will cost, BEWARE. Any price quote you get in an email, as I did for an eviction, means nothing, because if you want to complain about the final fees, the State Bar will ONLY go by the contract you…
DetailsTips on Verifying An Applicant’s Information Here’s one recent story shared on the MrLandlord.com Q&A. “I called a previous landlord to verify reference on an applicant. She gave all good reviews, said the resident paid on time, was up to date on her payments and took good care of her place. I informed the applicant…
DetailsProperty crime can be as conspicuous as graffiti or vandalism or it can manifest as behavior that is more difficult to ascertain such as drug trafficking or terrorist activities. Owners and managers can educate themselves to prevent or reduce crime. Everyone wins in this scenario because a property that is crime free has a higher…
Details1. To spruce up old, dirty and tired wall switches and plugs without replacing them, use spray paint made for plastic. Two quick coats and they will now match your new switch covers and look like you replaced them.
Many of our clients have asked us over the years if they should purchase earthquake insurance. This is a difficult question to answer specifically because every property is constructed differently (i.e. wood, masonry, concrete, metal) and is located on different soil (i.e. clay, rock, sand). The height of the building also makes a difference. Imagine…
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