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: Property Management
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…
Rusted Water Heater! How Long Should a Water Heater Last? How Much to Replace?
Apartment buildings often use 100 Gallon Commercial Grade water heater to provide hot water to the entire building. It is cheaper than servicing individual water heaters. You will need about one 100 Gallon Commercial Grade water heater for every 16…
Posted in Maintenance, Property Management
Fill In My Pool!
Pools are great… But, expensive to insure and maintain. Additionally, pools are additional liabilities lurking. You could get sued!!! Many of my landlords ask shyly… So, how much to fill it in? Pools range from $8,000 to $10,000 to fill-in…
Posted in Pools, Property Management
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
Can’t Sell Your House? Rent or Lease It!
The housing market is tough for sellers. Foreclosed properties are piling up and banks need to discount the properities in order to sell. Lets face it, if you want to sell today… you have to sell at a bargain. Many…
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