From the outside looking in, property management seems fairly straightforward. You own a property. You rent it to someone. They agree to stay for an agreed-upon term and take relatively good care of the place. You promise to fix appliances, plumbing and electrical problems should they arise. And everyone lives happily ever after. Except, that’s … Read more
Landlords and tenants often see things from very different perspectives. Our property management service has dealt with all sorts of disagreements. Sometimes the landlords are right. Sometimes the tenants are right. Here are a few interesting cases. What Happens to the Lease Once the Property Sells? Imagine you own an investment property, a single-family home … Read more
After 45 years as a property manager, I’ve collected quite a few stories about what can happen when you rent your property to others—and some wisdom about what to expect. If you own a rental property, or are thinking about it, here are some things to consider. Raising the Rent Let’s say you find out … Read more
Many people rent rather than own their homes. If this is true for you, you depend on a landlord to maintain your residence in good working order. At a minimum, landlords are responsible for ensuring homes are habitable and safe. The legal definition of habitable means the structure should be weather-tight with functioning heat, electricity, … Read more
Most of us think we won’t be duped by a scammer, but these people are good at what they do and desperation sometimes causes us to bypass our common sense. With the rental market in Ukiah as tight as it is, people are frantic to find a place to live, which can cause them to … Read more
You may have heard the old adage, “Good fences make good neighbors.” Well, it’s true. Obvious boundaries can certainly reduce frustration and confusion. But good fences aren’t the only things that help maintain good relations. Trying to understand your neighbor’s point of view—and communicating your point of view clearly—can keep things neighborly and help … Read more
I’m on the Ukiah Valley Medical Center (UVMC) Community Advisory Board, and at a recent meeting we received an interesting update on the hospital’s expansion. In case you’re curious, here’s what’s going on. The hospital is building a new emergency department (ED) and intensive care unit (ICU) to be completed in 2017. The original ED, … Read more
There’s a phrase every Realtor has heard and many believe: buyers are liars. Realtors representing buyers sometimes feel misled when buyers change their minds or reveal information later that would have been helpful earlier. As a buyer, it is unlikely that you hire a Realtor with the idea, “Hey, I’m going to lie to this … Read more
Last week I talked about servicing a real estate loan yourself. That was a prelude to the next couple articles, which are in response to a reader’s question about foreclosures and what other options may exist when a borrower stops paying his loan. If a borrower misses a mortgage payment, there could be a perfectly … Read more