Landlord tips and...
Follow
Find
1.2K views | +0 today
 
Scooped by Lori Hartjoy
onto Landlord tips and housing news
Scoop.it!

Top 5 Things to Look for When Moving Into a New Place

Top 5 Things to Look for When Moving Into a New Place | Landlord tips and housing news | Scoop.it
Everyone has heard of horror stories where someone was cheated out of their
security deposit. Tenants need to document the condition of the property
when moving in to help ensure this does not happen to them.
Lori Hartjoy's insight:

I absolutely loved this checklist. Just the other day a prospect came in complaining how they had left a rental in better condition than when they moved in and how the landlord had kept most of their deposit. My absolute favorite - check the top of the fridge. The other that is not mentioned is the window tracks. As a renter myself, I had a landlord that charged me for 4 hours of cleaning the metal window tracks after I left. I had vacuumed and could only assume that they hired someone with a Q-tip to clean them to perfection...  Do you have any stories to share?

more...
No comment yet.

From around the web

Landlord tips and housing news
News articles that are landlord friendly - great tips!
Curated by Lori Hartjoy
Your new post is loading...
Your new post is loading...
Scooped by Lori Hartjoy
Scoop.it!

Home Buying: What are the pros and cons of rent to buy option in this market? - Trulia Voices

Home Buying: What are the pros and cons of rent to buy option in this market? - Trulia Voices | Landlord tips and housing news | Scoop.it
What are the pros and cons of rent to buy option in this market? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.
Lori Hartjoy's insight:

I loved reading all the comments in this article. They have brought up so many more points than I would have thought about regarding "rent to own". My favorite - there is no home inspection so if there is a problem with the home you may not find out about it until you've paid quite a bit in and then it's too late to cut your losses. Have you ever done a "rent to own"? What was your experience?

more...
No comment yet.
Suggested by Karuga Edwin
Scoop.it!

Preparing To Rent Out Your Home - MovingOut

Preparing To Rent Out Your Home - MovingOut | Landlord tips and housing news | Scoop.it
If you’ve entertained thoughts about renting out your home, there may be a few questions you’ve already asked yourself, such as, “How will I feel about strangers moving into my home? Will my tenants be responsible?” Owning a rental property can require hard work, patience and planning.  On one hand, there’s the good to consider, …
Lori Hartjoy's insight:
Here is a good read if you've been considering renting out space in your home or getting into rental property investments.
more...
No comment yet.
Suggested by Jacob Grant Property Management
Scoop.it!

How to Screen for Great Tenants | Property Management

How to Screen for Great Tenants | Property Management | Landlord tips and housing news | Scoop.it
When it comes to maximizing the profitability of your rental investment nothing is more important than finding and retaining quality tenants. Learn how to screen for quality long term tenants.
Lori Hartjoy's insight:

To minimize your risk, you should always use due diligence in checking out your prospective tenants. While this is not 100% fool proof, it will help you to alleviate many headaches down the road. In WA State, it is required to have a "Renter Criteria' that you  use across the board for every applicant. Make sure you are in compliance with the Fair Tenant Screening Act before you advertise your next vacancy.

more...
Lori Hartjoy's comment, June 4, 4:57 PM
I did, thank you!
Lori Hartjoy's comment, June 4, 4:57 PM
I did, thank you!
Lori Hartjoy's comment, June 4, 4:57 PM
I did, thank you!
Scooped by Lori Hartjoy
Scoop.it!

Why Apartments Ban Pets, Allow Service Animals

Why Apartments Ban Pets, Allow Service Animals | Landlord tips and housing news | Scoop.it
Some tenants have pets. Others have service animals. What's the difference?
Lori Hartjoy's insight:

I love how this article is very down to earth and covers most scenarios that I've encountered over time. If you're a landlord or a tenant with a service/companion animal, I recommend reading this for more information...

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Tory Tips: TIPS TO HELP YOU AND YOUR NEW TENANT GET OFF TO A GREAT START!

Tory Tips: TIPS TO HELP YOU AND YOUR NEW TENANT GET OFF TO A GREAT START! | Landlord tips and housing news | Scoop.it
You made it past the hard part, you leased out your apartment! Now What? Now you try to make your new tenant transition into your property as smooth as possible. With these easy tips you can make your new tenant transition smoother, and therefore they will be happier.Offer moving services. Partner with a moving company in which you could send...
Lori Hartjoy's insight:

Just because the signature is on the dotted line does not mean that you need to stop providing help to your new tenant. You sold them the property, worked with them on the lease agreement and most times the only other contact is the monthly rental payments. Check out this great article to make your new tenants moving day stellar! I would encourage any landlord to at least offer #2 and #4. No cost other than maybe a piece of paper with information on it... Do you have any other tips to share? I'd love to hear them!

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

5 Ways Property Managers Can Build Long-Term Relationships with Student Renters

5 Ways Property Managers Can Build Long-Term Relationships with Student Renters | Landlord tips and housing news | Scoop.it
Roughly 30% of students enrolled in traditional on-campus degree seeking programs look for off-campus housing. Students watch the budget, but aren't looking for low-quality options that mirror cramped dormitories and cafeteria meal plans. Echo Boomers are looking for convenience and quality of life. Tweet
Lori Hartjoy's insight:

In our local area, I often hear questions from my current clients and those looking to turn their rentals into student friendly housing. Here is a great article with tips on how to make your rental more College Student friendly. 

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

5 Ways to Warm Up an Older House

5 Ways to Warm Up an Older House | Landlord tips and housing news | Scoop.it
If you live in an older home, consider any one of these energy-saving upgrades to reduce heating costs and still stay warm this winter.
Lori Hartjoy's insight:

During the cold months, one of the biggest concerns I hear when showing rentals for my clients is "what is the heating cost?" Here are some excellent tips whether you rent or own to try and keep your winter heating bill to a minimim. Do you have any other tips?

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Oregon Residential Landlord-Tenant Law - Limits Use of Public Records

Lori Hartjoy's insight:

Big changes are on the horizon for Oregon landlords who screen tenants. Beginning Jan. 2014, there are l imitations on some of the public records that you may be relying onto base your decision to rent or deny. This wonderful article from the folks at Moco Inc., highlights what you will need to know and be aware of in the near future.

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Top 5 Things to Look for When Moving Into a New Place

Top 5 Things to Look for When Moving Into a New Place | Landlord tips and housing news | Scoop.it
Everyone has heard of horror stories where someone was cheated out of their
security deposit. Tenants need to document the condition of the property
when moving in to help ensure this does not happen to them.
Lori Hartjoy's insight:

I absolutely loved this checklist. Just the other day a prospect came in complaining how they had left a rental in better condition than when they moved in and how the landlord had kept most of their deposit. My absolute favorite - check the top of the fridge. The other that is not mentioned is the window tracks. As a renter myself, I had a landlord that charged me for 4 hours of cleaning the metal window tracks after I left. I had vacuumed and could only assume that they hired someone with a Q-tip to clean them to perfection...  Do you have any stories to share?

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Local apartment rents continue climbing

Local   apartment rents continue climbing | Landlord tips and housing news | Scoop.it
With demand strong, landlords in King County expect to increase rents by an average 3 percent between September and March, according to a local research firm.
Lori Hartjoy's insight:

Some amazing rent growth in the Seattle region, even during the slow moving cycle. Plus, they have been adding new rentals to the market. What is the cause? Relocation! In our own little neck of the woods it is common to see a slight decrease during Oct - Mar. by about 1 to 1 1/2 % as landlords try to keep their income property filled. What do you think about the last 12 months for Seattle and the forecast for the upcoming year? 

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

State to reduce food assistance to low-income residents

State to reduce food assistance to low-income residents | Landlord tips and housing news | Scoop.it
Washington state officials want low-income residents to be prepared for a reduction in food-assistance benefits.
Lori Hartjoy's insight:

Remember that article from a few days ago that showed that those with the lowest incomes were already alloting 40% toward housing and were spending less elsewhere?  Well, it looks like they'll have to make do with even less for food in the near future... As a landlord, how will this affect some of your residents? Do you think they will have trouble making ends meet?

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Patience fried by couch-potato son, dad eyes eviction

Patience fried by couch-potato son, dad eyes eviction | Landlord tips and housing news | Scoop.it
Dear John: My 18-year-old son is doing nothing to gain independence. He doesn’t work or go to school. All he does all day is lie on the couch, watching TV and playing video games. He eats a lot of food and smells bad, too.
Lori Hartjoy's insight:

So often I hear my clients saying "I let a family member move into my rental and I'm having a hard time getting them out". I love all the helpful advice in this one that has to do with a child who is now 'of age' mooching off of their parents. Set aside that cupboard, shelf on the fridge and give them notice to vacate ASAP. Great advice by John Hartzell in this article. Have you had a similar experience?

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

2013 Firm Survey: Future Outlook of Firms

2013 Firm Survey: Future Outlook of Firms | Landlord tips and housing news | Scoop.it
Forty-five percent of firms reported they are actively recruiting sales agents in 2013. Seven in ten firms expect profitability (net income) from all real...
Lori Hartjoy's insight:

When I read this from a Landlord perspective, I see - Those in house hunting mode will turn to purchasing on a slightly increased scale over the next year to two years. Therefore, vacancies will be on the rise, rent amounts will fall and a glut of rental housing will be readily available. For those who continue to build new rental housing options, the wait for ROI will be longer. This will also be a boon for those who choose to continue renting, as the market rents will slowly decline - in their favor...  What is your take?

more...
No comment yet.
Rescooped by Lori Hartjoy from The Property Voice
Scoop.it!

The National Voice of Private Renters

The National Voice of Private Renters | Landlord tips and housing news | Scoop.it

Via Richard W J Brown
Lori Hartjoy's insight:

If you are a renter, did you know that there are many voices out there protecting your rights? Here is a National Organization that is helping out an ever growing group of renters/tenants. Even on a local level we have tenantunion.org. Check out this article and see how this group may be helping you...

more...
Richard W J Brown's curator insight, June 25, 9:06 AM

 

No longer a generic term to describe people that are renting - Generation Rent is now a charitable lobby group describing themselves as representing the 9 million people that rent their homes today.

 

I will provide a more in depth insight later but in the meantime I will merely signpost you to their website - click on the link to their Renter's Manifesto to have a sneak peak into their 34 page call to action.

 

I have scan read it once and of course there is much that is one-sided, such as calling for 5 year minimum term tenancies, with no section 21 rights for the landlord but with a one-way break option after one year for the tenant...mmm; or in some cases unworkable solutions such as a minimum 3 year holding period before landlords that let out their own home can claim private residence relief to some a little misunderstood such as implying that because Paragon stated that average returns to landlords have been 16% a year that that means we can all afford to pay fees for all sorts of licensing and checks and such like...of course the 16% figure is not income which is more like a third of this figure and often reduced due to mortgage interest and other costs.

 

There are though some interesting proposals in there, which I will comment on more later, so I am not just going to dismiss and criticise just because I am a landlord myself.

 

Judge for yourself but for sure, be convinced that we cannot ignore such movements as the momentum to address issues in the housing sector will heat up during the run up to the next election I am sure.

 

Edited additional section:

 

I did suggest that there were some points in the Renter's Manifesto that looked to be good ideas or at least fair points, here are my thoughts on some of these:

 

Security of tenure

 

I don't have a big problem in offering longer term tenancies myself but I would say at the same time make it easier to evict bad tenants who don't pay, damage property and cause anti-social behaviour in the community. A fast-track system through the courts would be a useful counterbalance to the idea of longer tenancies therefore. I think the concept of 'earned notice' could work but a notice period of a year is too long and any notice period should be made reciprocal to be fair to both parties. Also, for this to be effective the lenders would have to come on board too. In addition to the 'no fault' reasons to end a tenancy should include selling the property and requests by the landlord's lender to repay their mortgage also. There are alternatives to a longer term tenancy such as a penalty payment to help fund relocation expenses in the event of an early termination and these should also be explored as opposed to locking everyone in for long, inflexible time periods.

 

Tax changes - I think the proposed changes to CGT in particular could be interesting, although I doubt landlord's would be given more tax breaks for holding property for longer but I say yes please if that's on offer. I am relaxed about the 'stick' of removing the annual relief aspect unless the sale was a forced sale, as tricky as that would be to prove and police perhaps.

 

Affordability

 

I quite like the secondary market idea - this seems like a good compromise sitting in between the PRS, council homes and other types of social housing. Worth exploring this one. I also like the new home zones idea.

 

The Deposit Bond idea I am indifferent to but I can't see why the Government should underwrite private tenant defaults but I would again take it of on offer.

 

Raising rent-a-room relief is of course a tax break to homeowners and I am neutral on this but if it leads to more rooms coming into the rental market to ease the housing crisis then it makes sense to me.

 

Management

 

A national landlord's register does actually make sense as long as the authorities go after the unregistered landlords before jumping on the good guys all the time please. I think we ought to be careful about how much 'fee elasticity' there is for landlords to absorb however and so the addition of licensing to a registration fee does not make sense to me. Instead I would simply state that all landlords need to be registered and then must either be fully accredited by a recognised body (such as the NLA) and / or should hand over the management of their property to a fully registered and accredited letting agent for ongoing management. Then we can tackle quality through training and accreditation instead at a lower expense level.

 

I like the passport idea of deposits and have nothing to fear from a fair and independent arbitration service to resolve deposit disputes, perhaps with some 'fair use' guidelines being implemented.

 

Conditions

 

I am wary of the potential for abuse of a decent home condition report and in particular the health and safety points raised as I believe these could be very onerous and administrative let alone expensive to implement. But maybe a compromise can be reached here with a gradual introduction and target improvments being put in place to be implemented over time. I do agree that there ought to be a baseline standard for rental accommodation but we should take care in how this is rolled out.

 

I am all for local authority enforcement but would suggest that many powers already exist and instead of targeting the good landlords would rather the bad ones are rooted out first. I think a lot of problems are caused by a few rather than there being a massive problem across the sector per se.

 

OK, so I am not just dismissing everything suggested as perhaps might be expected but I would also say that there is still much in the manifesto that won't work, is fundamentally unfair or is just too complicated to succeed frankly - I have not the time or inclination to write about all of this.

 

One parting comment I would make is that Generation Rent does not 'represent' anyone, let alone 9 million people living in the PRS as distinct from a formal membership body such as say the NLA or ARLA. In this regard we should be careful in believing that this is the voice of the tenant community when they have no mandate or authority to make such a claim.

Richard W J Brown's comment, June 26, 6:59 AM
Lori - thanks for the rescoop :)
Suggested by Samar_Oberoi
Scoop.it!

Best Dog Breeds for Apartment Friendly Living | Pets World

Best Dog Breeds for Apartment Friendly Living | Pets World | Landlord tips and housing news | Scoop.it
Choose apartment friendly dogs that fit into your lifestyle easily. Find dog breeds which are ideal for homely environment.
Lori Hartjoy's insight:

Finding pet friendly rentals is always a challenge in our area. Some tips are to have references for them, show that they are up to date on vaccinations and if you have a certificate from obedience school that helps too. Check out this list of the most landlord friendly dog breeds and see if your pup is on there =)

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Leaving Homeless Person On The Streets: $31,065. Giving Them Housing: $10,051.

Leaving Homeless Person On The Streets: $31,065. Giving Them Housing: $10,051. | Landlord tips and housing news | Scoop.it
The latest study to find that it's far cheaper to house the homeless rather than leave them on the streets.
Lori Hartjoy's insight:

Almost a $20k savings by 'giving' the homeless housing instead of incarceration costs. Lets fill those empty homes and improve the quality of life for all. 

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Utah is Ending Homelessness by Giving People Homes

Utah is Ending Homelessness by Giving People Homes | Landlord tips and housing news | Scoop.it
Earlier this month, Hawaii State representative Tom Bower (D) began walking the streets of his Waikiki district with a sledgehammer, and smashing shopping carts used by homeless people. “Di
Lori Hartjoy's insight:

All I can say is WOW - about time! I'd love to see this across our nation. Lets help those closest to home first, not 3rd world countries. In 2005, Utah figured out that the annual cost of E.R. visits and jail stays for homeless people was about $16,670 per person, compared to $11,000 to provide each homeless person with an apartment and a social worker. So, the state began giving away apartments, with no strings attached. Each participant in Utah’s Housing First program also gets a caseworker to help them become self-sufficient, but they keep the apartment even if they fail. The program has been so successful that other states are hoping to achieve similar results with programs modeled on Utah’s.

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Landlord Property Management Magazine » 10 Ways to Prevent Damage to Your Rental Units

Landlord Property Management Magazine » 10 Ways to Prevent Damage to Your Rental Units | Landlord tips and housing news | Scoop.it
Lori Hartjoy's insight:

I absolutely love #9. Watch the weather. Storms cause significant property damage, and lately we’ve been seeing some monsters.  Once the surge is over, check for roof damage, clogged gutters, and poor drainage that may leak into the foundation. When was the last time you checked on or inspected your rental investment?

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Rental Report: Tenant Screening Tips - ARL now

Rental Report: Tenant Screening Tips
ARL now
Not everyone is going to look perfect on paper, but you can still save time, headaches and money by following some of these tips.
Lori Hartjoy's insight:

One of best tools to reduce risk in your rental investment is to run a background check on every applicant. Here are some tips to help you stay ahead of the game and make your property safer and a less risky investment.

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Enhance Your Home's Safety and Increase Its Market Value: 5 Easy-to-Implement Upgrades

Enhance Your Home's Safety and Increase Its Market Value: 5 Easy-to-Implement Upgrades | Landlord tips and housing news | Scoop.it
Remodeling your home to increase its market value isn't as easy as it was during the housing market's heyday.
Lori Hartjoy's insight:

Not only may these tips increase market value, but they will pique renter interest as well if you offer them as features in an income producing property. Do you have any other suggestions on safety tips that would make your home more appealing?

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

DIY Industrial Curtain Rods

DIY Industrial Curtain Rods | Landlord tips and housing news | Scoop.it
DIY Industrial Curtain Rods - Curtain rods are one of those things that can really use up your decorating budget fast - especially if you need extra long ones.…
Lori Hartjoy's insight:

Whether you're a landlord who provides window coverings or a tenant looking for economical ways to keep those curtains up and in place, this is a great tip! I may do this myself. Looks like they will handle my 3 toddlers pulling much easier than the old aluminum rods and hooks. My 3 yr. old has broken so many of those Ive lost count. Do you have any creative ways you've hung window coverings with? I'd love to hear them!

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

7 reasons rentals are rocking the housing market

7 reasons rentals are rocking the housing market | Landlord tips and housing news | Scoop.it
Buying a home is 35 percent cheaper than renting in the long term. Still, an increasing percentage of Americans are choosing to sign a lease rather than a deed.
Lori Hartjoy's insight:

Rental Housing is still booming while the home purchase market remains rocky. Are you targeting the right crowd for your income property? Check out these stats:   

 

"Last year, 36 percent of the country's 18- to 36-year olds lived with their parents — the highest share in at least 40 years, according to a Pew Research studyreleased in August.

 

Experts believe those millennials will eventually move out, but they're not going to jump straight from mom and dad's couch into home ownership. "Those young people are probably going to rent before they buy," says Jed Kolko, a housing economist with Trulia."

 

Millenials are much more technology inclined and will most likely do internet searching and rely on word of mouth for referrals. Make sure you're doing your homework!

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Money — the crisis Washington’s ignoring

Money — the crisis Washington’s ignoring | Landlord tips and housing news | Scoop.it
One of the most amazing stories right now is the failure of either President Obama or Congress to address the monetary crisis. This is the crisis Joe Six-Pack feels when…
Lori Hartjoy's insight:

I loved this article. It clearly and in plain english explains why so many more people are feeling their budgets tighten as the dollar does not buy as much. Is a collapse imminent? possibly - Feel free to read on and see what your take on our country's monetary situation is now and in the coming future. I sure don't get warm fuzzies about stability when I read it...

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Terrible real estate agent photographs

Terrible real estate agent photographs | Landlord tips and housing news | Scoop.it
Inexplicably bad property photographs. It's that simple.
Lori Hartjoy's insight:

They say a photo is worth 1000 words... in some cases - they were better using none. Make sure if you're adding photos to any kind of classified ad that the photo looks good. Otherwise, you're just driving potential buyers or in this case renters... away...

more...
No comment yet.
Scooped by Lori Hartjoy
Scoop.it!

Where Americans—Rich and Poor—Spent Every Dollar in 2012

Where Americans—Rich and Poor—Spent Every Dollar in 2012 | Landlord tips and housing news | Scoop.it
Here it is, fresh from the Bureau of Labor Statistics : all of American spending in one big color wheel. Since some of you (inexplicably) don't like pie charts, here's the same data in bars. Averages are ...
Lori Hartjoy's insight:

As the struggle to balance our budgets continues, you'll note here that the bottom 20% (poorest) spend 40% of their income on housing. Typically they are renters. This is above the typical 33% requirement that many landlords have. So, by looking at this it means that those in the lowest income brackets (disable, seniors, students, etc.) are having to cut costs elsewhere. It looks to me like they are cutting it in insurance. How do you think this will change as Obamacare requirements come online?

more...
No comment yet.