Written by Apartment Management Magazine on . Posted in Blog

Residential rental property owners face an array of insurance options with similar sounding names, and that seem to overlap. We take three of these, renter’s insurance, loss of rents insurance, and tenant default insurance, break them down, and show which type of protections each of them offers, and who benefits by these insurance policies.

Santa Claus is Coming to Sacramento, Washington & Everytown USA

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If you think there is no Santa Claus, you are not running for office in 2020. Yes, the political Santa Clauses of the world are running for office with a sleigh full of free goodies. They have made their list and it includes:

• Rent Control
• Student Loan Forgiveness
• Social Security Increases
• and Free:
• Health Care
• College Tuition
• Child Care
• Legal Advice

New California Rental Housing Laws: AB 1482 Is Only the Beginning…

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While the rental housing industry in California has been abuzz about the latest rent control and “just cause” eviction law (more on that below), Gov. Newsom has passed five other rental laws. From extended rent increase notices to the mandatory acceptance of Section 8 vouchers, you won’t want to miss these other hot-off-the-press laws.

Written by Apartment Management Magazine on . Posted in Blog

According to AARP, Baby Boomers spend about $3 trillion annually and a whopping 78 percent are online, where they’re buying $7 billion in goods and services. As of 2017, they spent more time online than Millennials.

TYPICAL BUSINESS PLANNING CONCERNS

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People often ask me, what are some of the typical business owner’s concerns that I discuss with them regarding their business?  In an article by Martin S. Finn, CPA, who mentioned the top ten businesses and estate planning mistakes, I was reminded of the three areas that I typically spend most of my time discussing with owners as mentioned below.

RISK MANAGEMENT 101, Part 2

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By Eric D. Jarvis, Esq. | Founder of ReassureRent

It’s every landlord’s nightmare: A tenant who can’t, or won’t, pay the rent. You’ve invested in your property.  You are obligate to continue to pay taxes, insurance, a mortgage, and maintenance, and you depend on that income. You provided a home for your tenant and you have a right to expect that tenant to keep their end of the deal.  Now you’re involved in a time consuming and emotionally draining eviction process. In the best situations, you will pay some legal fees and lose some rent.  In the very worst situations, you could spend thousands in legal fees and lose half a year of rent before you get your property back.

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WHY 1031 DST EXCHANGES ARE GROWING IN POPULARITY

1. Free yourself from the three Ts of active management – tenants, toilets and trash. Many investors are attracted to Delaware Statutory Trusts because they offer the potential for a passive income stream. This feature is especially popular among those investors transitioning from an active real estate management role via a 1031 tax-deferred exchange. Active real estate management can be a time-consuming and tiring occupation which many property owners don’t want to continue into retirement. However, cashing out of a property held over a lifetime will usually incur a substantial capital gains tax hit that will erase much of the wealth that has been accumulated. Delaware Statutory Trusts allow an investor to utilize a 1031 exchange to acquire a professionally managed asset, which provides a potential stream of income without the headaches of property management and asset management.

How to Manage Trash Left Behind by Renters

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By the CIC Blog

Its Monday, again… I open the door to my office, throw my coat on the back of my chair and stick a coffee cup under the Keurig.  Then, I walk over to the drop box to collect the keys from my renters who have moved out over the weekend. With just two apartments, I think to myself “I can get these units inspected and have the cleaning crew in by Tuesday.” I take my freshly brewed java onto the elevator up to the third floor and unlock unit 3-B. I push the door open and a big bag of garbage is waiting right there in the middle of the room to greet me. “Perfect,” I think to myself. Well, garbage would have been “O.K.” but once I get inside the unit, I spot a few other items left by Mr. and Mrs. Former Renters. These scenarios happen all the time. From garbage to old furniture, these are just a few of the common items left behind by renters.  But what you can do in these situations?

R.I.P “Ming” The Bengal Tiger

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“Ming” the Bengal Tiger Once Raised in a Harlem Apartment Has Passed

The Bengal Tiger Lived in a Rent Controlled Apartment for 3-Years Until Being Discovered and Becoming a Front-Page News Story

A Bengal tiger cub named Ming had once lived for three years in a public-housing project as his owner’s “only friend,” and became front-page news when he was discovered nearly 16 years ago.