So, you have a mold problem that has been corrected and you want to know if it is okay to move occupants back into the unit? Get a clearance inspection. But not from the company who did the work! For the purpose of this article, post-abatement, post-remediation, and mold clearance are synonymous terms. Essentially, it…
DetailsHello everybody. Unfortunately, this month I have terrible news to report about laundry room leases. On September 25, 2020, the California Court of Appeal ruled in favor of Dadson Washer Service, Inc. (“Dadson”) and against the apartment owner in a case which upheld the validity of Dadson’s automatic renewal clause and which extended Dadson’s initial…
DetailsThe question that will come to mind as you read this is “Who does that?” The unfortunate answer is “too many people.” We are in an industry full of talented people – mostly. If these mistakes are occurring with your assets, it is probably time to look for new management – first, to stop the…
DetailsWhile seasoned landlords are no strangers to handling tenant disputes, one particular situation – tenant-on-tenant discrimination – requires additional discussion and immediate action. Buried within the Oregon Administrative Rules is OAR 839-005-0206 which details specific theories of discrimination involving housing in Oregon. One particular section involves landlords: (5) Tenant-on-tenant harassment: A housing provider is liable…
DetailsQ: My tenant paid his January rent with a personal check. Several days after I deposited the check, the bank notified me that the check was dishonored because there were insufficient funds. I no longer want to accept personal checks from this tenant. Can I demand payment of rent in cash? A: Yes, if your…
DetailsContinued . . . Opportunity: One can make much money by (a) choosing the right investments or by (b) shunning the poor ones. In many cases poor investment decisions could have been entirely prevented by heeding John Farnam’s Three Rules: (1) Don’t go to stupid places; (2) With stupid people, (3) And do stupid things.…
DetailsRenting Rooms Some landlords use the business plan of leasing individual rooms in a house, as opposed to leasing the house to a single family. In general, more revenue can be collected by this business practice. Unfortunately, there are a multitude of problems that can occur in this situation. In some jurisdictions, this practice is…
DetailsApartment buyers look for at least two years of increasing net operating income (“NOI”) when purchasing an apartment building. Just like the U.S. economy, a certain amount of annual gross domestic product (“GDP”) growth is expected to keep up with consumer price index (“CPI”) to be competitive with other countries. When analyzing income / expense…
DetailsSecondary market rents are growing as rent growth is varying across markets as the divide between gateway and secondary metros continues to increase with the pandemic, according to the October report from Yardi Matrix. “With each passing month, outmigration from large gateway markets to secondary and tertiary tech hubs is amplifying. At this point, the apparent…
Details“TEAR-OUT” SUMMARY Effective…
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