Q: I purchased a house at foreclosure and discovered that the tenants living inside the home have a one year lease agreement with the previous owner. The rent that they are required to pay is the fair market rent. Do I have to honor this agreement?
New Laws for 2013 For this edition of the AOA Northern California Question and Answer column, I have been asked if there are any new laws starting January 1, 2013 that might affect property owners and landlords. There are several, and many of them involve foreclosure proceedings as they affect tenancies. Below is a survey,…Details
Question One: I have a tenant who broke a bathroom faucet that cost $300. I replaced it with a temporary faucet costing $49.00. I would like to replace it with a similar faucet, like the one that was broken. I am asking the tenant to reimburse me for the new faucet, with no luck. What…Details
Success is what apartment ownership is all about! We work, save a part of all we earn and then invest our savings in providing housing for others. The politicians did not see us when we lived frugally and did without, in order to save enough for a down payment on an apartment building. “Instant gratification”…Details
Consider this a friendly reminder that new requirements for carbon monoxide (CO) detectors kick in on January 1, 2013. Effective on that date, (next month), all rental housing units will be required to be equipped with CO detectors. The below information has been obtained from the office of the Fire Marshall for State of California…Details
A warm inviting smile from our staff is the perfect crowning glory to your holiday decorating efforts. Greet everyone with a warm welcome and ensure your faces and attitudes reflect the same joyous message that is presented by your community décor. Nobody wants to lease an apartment from The Grinch! Don’t be distracted by the…Details
New Legislation that Affects Landlords By Noni Richen, SPOSFI Board Member AB 1953 (Ammiano): Tenant Notice AB 1953 expands on the existing requirement that, after an ownership or managerial change of a rental property, the tenant must be given formal notice of the change and provided with the name, phone number, and address of the…Details
“When you hire the best, the rest is easy!” We have heard this phrase many times, but how do we put this concept into action? We know that hiring the best people is vital to the success of our business, especially in property management. And certainly, the residents who live in the apartments you manage…Details
One important part of developing a successful apartment community marketing plan is to size up your marketing strategy to that of your competitors’. Here are a few tips that every community should analyze to gain a stronger competitive advantage.
In strong rental markets, many leasing employees are faced with the wonderful challenge of being 100% leased. Some apartments are being rented “sight unseen,” and perhaps there are only a few days in any given month where vacant apartments are available to look at before the new residents move in. For communities that have rented…Details