Believe it or not…. Copper theft is a problem these days. Be careful letting units sit vacant for too long. I have seen copper wire and plumbing stolen. Best thing to do, FILL THE VACANCIES and keep the units occupied.
Category: Income Property
Vandalism and Theft in Apartments
If vandalism or theft is BAD, you want to notify your insurance carrier right away and start a claim. Delaying notification of the vandalism could cause your insurance carrier to deny coverage. Also, check your policy. Extended vacancies (over 30…
Curb Appeal Fills Vacancies!!!
Just pull the trigger and make the landscaping decent. I am always amazed how many apartment buildings have ZERO curb appeal. Who wants to live in a place that looks like a dump from the curb?
Magnesite… Don’t be cheap.
Magnesite is the decking material used on stairs and second story walkways. Many buildings in Los Angeles were built in the 1960s that were stucco framed with a magnesite stair case and landing. For some reason, many landlords have tried…
How to Fill Vacancies Fast!!! How about Hardwood Floors?
All the rent incentives in the world do not change the fact somebody is going to have to make the unit their home. Well, would you want to live in a dingy place, even if the first months rent was…
Do I have to give a Resident Manager free rent?
Actually, it is not that simple! Minimum wage laws have snagged unsuspecting landlords. Many landlords reluctantly realize they must give up a unit to a Resident Manager because they have 16 or more units. The next thought landlords often have…
Before I fire the Resident Manager, Do I need a Resident Manager?
An apartment building in California with 16 or more units must have an on-site resident manager. Cal. Admin. Code tit. 25, § 42. If your building is more than 4 units and less than 16 units, then a notice must…
Assignment of Rent Clause- Interception!
Do you own a real estate investment? Are you in default on your loan? Be aware that most lenders have a clause in the loan documents that allows for an absolute assignment of rents when the borrow is in default.…
Posted in Income Property, Property Management
Where do I put my money? Low Income Apartments Are Money Makers!
In college at UC Davis, I began to get interested in investing and making money. I read books about the stock market and specifically became fascinated with Warren Buffet and Berkshire Hathaway. I admired Buffet’s basic approach to investing. He…
Generate Additional Income Streams for Your Investment Property
Of course, an apartment owner’s main source of monthly income generated from the property will be rent collection. However, there are alternative ways to generate additional income that may just transform your investment from a “break-even” asset to a profitable…
Posted in Income Property, Property Management
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