| Subject | Date Asked |
|
| Housing Management | 11/12/2009 |
Q: Describe your administrative experience in rental property management and section 8 housing ...
A: I have no experience with Section 8 housing management, as my clients have never wanted to take the ...
|
| constructive eviction | 11/5/2009 |
Q: I moved in about 4 months ago. The leasing lady told me I would love it here. It has been a ...
A: In short, yes. If the unit is really as bad as you say, you should be able to break your lease and ...
|
| security deposit | 11/1/2009 |
Q: in louisiana, if a managment company collects rent, makes repairs, etc., and unreasonably withholds ...
A: I'm not sure what the rules are in LA. In California, it's common for a tenant to go after whoever ...
|
| renting an apartment | 10/30/2009 |
Q: The last 4 years I lived abroad with my husband. When my husband died, I returned to the US. I want ...
A: Landlords usually rely on credit reports as evidence that you pay your bills on time because there ...
|
| Apartment unit numbers | 10/22/2009 |
Q: Do you know a free website where I can find out how many apartment units are in a city, county, or ...
A: I don't know of any web site that tracks that information. I would start with the city planning ...
|
| rental agreement | 10/16/2009 |
Q: I am a landlord of a townhouse and will be soon renting to a new tenant. After signing the rental ...
A: As a landlord I wouldn't allow a fridge on the carpet, as it is surely going to damage it somehow, ...
|
| Tenant rights and laws | 10/6/2009 |
Q: My wife and I signed a rental lease but never moved in to the property or did we do a walk through ...
A: Sorry, but you need an attorney to help you with this one. As a property manager, I wouldn't charge ...
|
| condo use restrictions | 10/3/2009 |
Q: In the state of Georgia I have a friend who owns a condo with an attached garage. She has gotten in ...
A: Sorry, but you need an attorney to answer your question correctly. Management companies sometimes ...
|
| LLC | 9/28/2009 |
Q: I live in California and own 3 rental properties, all in different states. Does it make sense for ...
A: From a liability perspective, it's always best to form separate entities for each property. From a ...
|
| CAM | 9/26/2009 |
Q: I was wondering what is the difference between Accredited Property Manager (APM) and Certified ...
A: Opinions vary, but here is mine. The APM is a residential specialist, typically an on-site manager ...
|
| Referral Fee for Property Management | 9/24/2009 |
Q: Are there any legal limitations on paying referral fees to licensed or non-licensed people/entities ...
A: Since I'm not a laywer, I'm not going to offer a legal opinion. However, if you share a commission ...
|
| HOA/PM | 9/24/2009 |
Q: I live in a condominium which has homeowners association. From my understanding, the patio is ...
A: Since the HOA is responsible for repairs and the actions of the property manager, I would go after ...
|
| HOA/PM | 9/24/2009 |
Q: I live in a condominium which has homeowners association. From my understanding, the patio is ...
A: Please start by checking your HOA documents to confirm that the patio is, indeed, common area. I ...
|
| Property Manager didn't followup on lease renewal | 9/21/2009 |
Q: We began using a Property Management Company (PMC) a few years ago. They found tenants for us and ...
A: Going after the PMC is a legal question that I can't answer, but like any business decision you need ...
|
| Property Manager didn't followup on lease renewal | 9/21/2009 |
Q: We began using a Property Management Company (PMC) a few years ago. They found tenants for us and ...
A: Sorry to hear about your problem. Does the PMC answer the phone? If not, send them a termination ...
|
| Short-term Rentals | 9/9/2009 |
Q: It is my understanding that one does not need a real estate license and/or broker affiliation if ...
A: I don't manage vacation rentals myself, so I asked a number of companies who offer vacation rental ...
|
| Tenant Question | 9/2/2009 |
Q: first off. My disabled mother, myself, and my new husband are sharing a cozy circa 1961, 1400sqft ...
A: To summarize what I think you wrote, the landlord isn't keeping the property and it's appliances in ...
|
| notice to landlord | 9/2/2009 |
Q: I have a month-to-month tenancy with an oral lease, no written lease. So, this is actually a ...
A: I can't advise you on the housing regulations in New York. I do know that where I live (California) ...
|
| The need for Real Estate License for Property Management Assistants | 8/27/2009 |
Q: I work for a Property Management company in Adelanto, CA. The owner manages approximately 170 ...
A: The short answer is that property management companies in California are required to have a licensed ...
|
| Selling mobile home | 8/24/2009 |
Q: I reside in a small mobile home neighborhood in Thomasville, NC. Our youngest couple here is in ...
A: Your situation may be becoming more of a legal problem than you want to handle yourself. If the ...
|
| Selling mobile home | 8/23/2009 |
Q: I reside in a small mobile home neighborhood in Thomasville, NC. Our youngest couple here is in ...
A: The landlord can't take race into consideration when making a sale or locating a mobile home. If ...
|
| Property Management & Leasing Requirements in CA | 8/23/2009 |
Q: Reference: ...
A: The answer to your question is surprisingly simple. You can manage without a license if you are a ...
|
| NY - Real estate investment financing structure and effects | 8/19/2009 |
Q: I recently formed an LLC, along with one other partner, with the aim of purchasing investment ...
A: In any state, an LLC is supposed to be a great way to shield your personal assets from loss in the ...
|
| Employment Rights for those who are employed as apartment managers | 8/5/2009 |
Q: My Mother has been employed as an apartment manager for the same owner for over 15 years. At the is ...
A: My short answer is that unless your mother has a signed employment agreement, there is no agreement. ...
|
| Incorporating Rental Property and Protection From Malpractice Litigation | 8/3/2009 |
Q: I am a non-physician anesthesia provider that is going to incorporate as a professional corporation ...
A: You've asked a couple questions, so here are a couple answers. First, you should consult with a ...
|
| Resintial Rental | 8/2/2009 |
Q: The tenant vacated without notice. Numerous unsuccessful attempts at contacting tenant have been ...
A: If you don't have a good mailing address or location where you can hand deliver a written notice to ...
|
| Rent Control - Rent Due Date | 8/1/2009 |
Q: I've just purchased a new property in a rent control area and one of the current tenants has elected ...
A: You need to check the precise requirements of the rent control regulations where the property is ...
|
| Family member as property manager | 7/23/2009 |
Q: I intend to buy a house in Texas to rent out. I would like to pay my sister, who lives there, to ...
A: Owners can always manage a property they own, as can employees of the owner. A license is required ...
|
| No running water at our rental | 7/23/2009 |
Q: we are in our third month renting a home, in which we signed a year lease for, with a property ...
A: It seems your management company did the right thing in figuring out how to solve the problem, ...
|
| who will pay for the repairing | 7/7/2009 |
Q: I have a question about how to deal with the issue with property management company. I've signed an ...
A: If the property manager didn't find it at the walk through with the tenants, the tenants won't pay ...
|
| Property management in CA | 6/25/2009 |
Q: John, I represent a partnership. We want to buy large multi family in CA. Can we legally mange our ...
A: Yes, an owner can always manage their own property, regardless if the owners are individuals, a ...
|
| Property Management Agreement | 6/22/2009 |
Q: We own rental property and are considering hiring a particular Property Management Company. They ...
A: Hal, You may want to get a legal opinion if the language in the contract is difficult to understand, ...
|
| Quit Deed | 6/18/2009 |
Q: My mother passed away 10 years ago and left her home in a trust. I along with 3 other siblings are ...
A: There are a couple issues to address - Whose name is on the mortgage? If you're not on it, you're ...
|
| Residential Rental Rates | 6/12/2009 |
Q: Where can I find the rental rates that are now being charged in the area in which I live? I own a ...
A: We do "market rent surveys" all over the country by collecting data from sources that you should ...
|
| need to break lease - 9 months into one year lease | 6/12/2009 |
Q: My husband and I are buying a house. We are 9 months into a one year lease. The property is managed ...
A: As a property manager myself, I always try to get above-average rents if the property is in good ...
|
| Current Renters wish to buy on contract | 6/3/2009 |
Q: I have a home in IN that is currently rented. The renters would like to purchase the home on ...
A: A contract sale can be whatever you and the buyer want it to be, but normally it means that the ...
|
| income from house rental-estate | 5/28/2009 |
Q: My mom left her house when she passed away to 5 children. I am the executor of the estate. ...
A: Ann, If you are still in probate, the rent belongs to the estate and can't be distributed to the ...
|
| MORTGAGE/FORECLOSURE | 5/22/2009 |
Q: My girlfriend bought a house two years ago during the bubble and paid way too much for it and it ...
A: Usually a mortgage lender can't attach pay to collect on a mortgage, it's secured by the property ...
|
| house ownership and reassignment | 5/13/2009 |
Q: I own a house in new jersey and due to the market may not be able to sell before I leave due to ...
A: I'm not sure what you mean by reassignment. Are you in the military? If you are, I recommend you ...
|
| Guesthouse rental | 5/10/2009 |
Q: I'm renting the guesthouse attached to my main house for $650/month. I furnish all utilities ...
A: Tax professionals love this question, because it has to do with how much of your personal living ...
|
| property management system | 4/3/2009 |
Q: hey i am new in the real estate industry, a gradaute in real estate studies actually but i need help ...
A: I can't send you anything, as I don't have your email address. I recommend you draft your own ...
|
| property management system | 4/3/2009 |
Q: hey i am new in the real estate industry, a gradaute in real estate studies actually but i need help ...
A: If you are new to property management, I recommend you work for an established company for a few ...
|
| Name of broker of sold co-op | 3/29/2009 |
Q: I live in a West Side (Manhattan, New York) co-op. We believe that every apartment sold in the past ...
A: Where I live, I am able to search the multiple listing service (MLS) for properties sold and see who ...
|
| Trust purchase of home | 3/26/2009 |
Q: If the trust is revocable and the interest on the assets at an investment bank would pay for the ...
A: Although it's possible for a trust to hold title to property that has been placed in the trust, I've ...
|
| estate home rental | 3/14/2009 |
Q: My father passed away May of 2006. We have not sold his home due to the market, but have rented it ...
A: Ken, It's getting very common for executors to hold estates open for one or two years as they wait ...
|
| income from RE | 3/14/2009 |
Q: People have asked about getting all profits from an investment property and not really having to pay ...
A: Eric, There is only one tax deduction that you can take on a rental property that doesn't cost you ...
|
| estate home rental | 3/14/2009 |
Q: My father passed away May of 2006. We have not sold his home due to the market, but have rented it ...
A: Ken, Is the house still in your father's name, therefore in his estate? Did he own it in a trust? ...
|
| Locks | 3/7/2009 |
Q: I have a large utility shed at the rear of the back yard of a rental property. I store materials ...
A: You have two issues, here are my comments: - Your tenant cannot change locks or add locks without ...
|
| Real Estate Taxes on Life Estate Property | 2/17/2009 |
Q: My mom (92) has life estate for her cabin and home. I am the sole beneficiary. She is in a nursing ...
A: Jan, You need to check the specific terms of the life estate. Some say that the life estate grants ...
|
| rental property while living abroad | 2/17/2009 |
Q: Right now im in the process of owning rental property in a different state in America but im ...
A: If the property can be rented for a profit, it's probably good to hold onto it for now. Your rental ...
|
| inherited 2 flat | 2/8/2009 |
Q: My brother and I inherited a 2 flat in 2006. My brother is going through a divorce and is living in ...
A: Gail, From a strictly business point of view, the only way it can be fair is for rents on both units ...
|
| Defaulting on a Rental Property | 2/4/2009 |
Q: I may have to default on one rental property in pennsylvania. I recently got a HE loan to make ...
A: Roger, Most residential property loans are "non-recourse", which means they can only take the ...
|
| Why should you have your trust own your LLC that in turn owns your rental properties? | 2/3/2009 |
Q: In late 2008 you answered a question about putting properties into an LLC to avoid the "4 investment ...
A: There are two concepts in play, one is liability protection and the other is estate planning. ...
|
| genral things to be aware of when putting rental property into a trust | 1/24/2009 |
Q: Mr. Souerbry. I am a law student and have a generalWhat happens when you put rental property into a ...
A: Dax, There are many different types of trusts, too many to go over here. In general, rental ...
|
| Rental property in Living Trust | 1/23/2009 |
Q: My mother died this past summer. Her vacation home and residence are both in a living trust. My ...
A: Kelly, your leases should always be between whoever owns the property at the time the lease is ...
|
| Rental property in Living Trust | 1/23/2009 |
Q: My mother died this past summer. Her vacation home and residence are both in a living trust. My ...
A: Kelly, Sorry to hear about the loss of your mother. As long as the lease says the lease is between ...
|
| LLC for Rentals | 1/23/2009 |
Q: I recently rented out my primary residence in California and relocated to Oregon - where I am now a ...
A: James, Here's one way to look at it - if you form the company in Oregon, California will still ...
|
| Land | 1/12/2009 |
Q: My grandfather died and left his portion of his land to his 4 children,my mother is his oldest ...
A: How the land is divided up is determined by the will. If the will says that it goes "equally to all ...
|
| Mangement referral fee | 1/2/2009 |
Q: I am wondering what the going rate is to licensed professionals for a referring a owner to me for ...
A: Sorry, I got rushed and forgot the referral part in my reply (the question you were actually ...
|
| Mangement referral fee | 1/2/2009 |
Q: I am wondering what the going rate is to licensed professionals for a referring a owner to me for ...
A: The going rate for property managers is 10% of gross rents. What is included in that 10% is ...
|
| Income Property in living trust - Ppty taxes? | 12/30/2008 |
Q: I have an apartment building in a living trust in Los Angeles County, California. My wife and ...
A: Jim, As a practical matter, the tax collector won't know if you have passed away or not. When I ...
|
| Negligent property management | 12/11/2008 |
Q: Is my property management firm guilty of negligence? The professional management company I hired to ...
A: 1. I'm a CAR member through the Silicon Valley Association of Realtors and use the standard CAR ...
|
| Negligent property management | 12/10/2008 |
Q: Is my property management firm guilty of negligence? The professional management company I hired to ...
A: A lot of your question pertains to legal claims, for which you should consult an attorney. Regarding ...
|
| home with mortgage inhereted through a trust | 12/1/2008 |
Q: My mother died 11/18/2008. She had a living trust. She willed her home, with a mortgage, to myself ...
A: Kerry, If you and your other sibling don't agree to sell, your brother can't force a sale. If you ...
|
| incorporating protection | 11/22/2008 |
Q: Will incorporating protect my rental properties, if I have to give back my primary residence? I do ...
A: Two things to know first: - "Recourse" loans allow the lender to take not only the property they ...
|
| clarify audit by-law requirement | 11/18/2008 |
Q: Our board of directors cannot seem to agree on exactly what kind of audit satisfies the by-law ...
A: Here is what I tell my HOA board clients: Check with your department of real estate or department of ...
|
| property management | 11/17/2008 |
Q: if you are a Lic. real estate agent can you be a property manager without involvement of a broker. ...
A: It may depend upon the state in which you are doing business. However, it's been my experience that ...
|
| Withholding rent | 11/15/2008 |
Q: We own a house and have a property manager. He recently got tenants and made a bunch of repairs ...
A: I'm getting a lot of questions and complaints about property managers on AllExperts this past week. ...
|
| Rental: To Incorporate Or Not | 11/13/2008 |
Q: About a year ago, I purchased a property with my brother who is deployed. It was a fixer upper in a ...
A: Sandra - Whether or not to incorporate is a matter of liability protection and sometimes a tax ...
|
| Owner vs. Tenant rights | 11/12/2008 |
Q: I hired a property manager to rent out my home. We have had several issues, including him lowering ...
A: I love it! What a dirtball! Whenever someone tells me something like that, I always ask: "What law ...
|
| Owner vs. Tenant rights | 11/12/2008 |
Q: I hired a property manager to rent out my home. We have had several issues, including him lowering ...
A: Sandee - It all comes down to: what does your contract say? What reason does the manager give for ...
|
| Paying taxes on rental property in a trust | 11/12/2008 |
Q: My father passed away July of 2007, leaving a Living Trust with two properties, to his six children. ...
A: Scheryl - You need to speak with a trust attorney. If the trust was in existence before your ...
|
| Paying taxes on rental property in a trust | 11/11/2008 |
Q: My father passed away July of 2007, leaving a Living Trust with two properties, to his six children. ...
A: I need more information to help you properly. Were the properties in the trust before your father ...
|
| Real Estate Broker Responsibilities | 11/11/2008 |
Q: Souerbry. I had to ask another question because I used up all the follow-ups. Here goes: The total ...
A: If your broker didn't return the refund in the time frame required, you are probably out the money. ...
|
| Paying taxes on rental property in a trust | 11/11/2008 |
Q: My father passed away July of 2007, leaving a Living Trust with two properties, to his six children. ...
A: Scheryl- I hope that your family is holding up after the loss of your father, and that the six ...
|
| Real Estate Broker Mgt. Duties to Owner | 11/10/2008 |
Q: Good day Mr. Souerbry, In 2006 I hired a Real Estate Broker from a large Realty Estate in ...
A: Eleanor - Did your broker deposit the check into a trust account? That money belongs to the tenant, ...
|
| property management | 11/8/2008 |
Q: I need your help, I want to start my own proprety management company what are the req. for ...
A: I get this question often. Here is my standard list of things you need: 1. A real estate broker ...
|
| Real Estate Broker Mgt. Duties to Owner | 11/8/2008 |
Q: Good day Mr. Souerbry, In 2006 I hired a Real Estate Broker from a large Realty Estate in ...
A: There was a problem with the way the deposit return was handled. You have to include receipts and ...
|
| tenants late on rents | 11/2/2008 |
Q: my tenants have been 2months late on their rents, my property manager set them up on automatic ...
A: Jennifer, First, fire your property manager as soon as possible (read your contract to make sure you ...
|
| House | 11/2/2008 |
Q: I made a mistake and rented a house to a tenant with out a background check, they have been there ...
A: Larry, It's time to hire an attorney. An attorney will begin the eviction process and get a judge ...
|
| Tax issues re: providing a home for my mother | 11/1/2008 |
Q: I had purchased a home for my parents in 2000, and had been reporting it on taxes as a rental, even ...
A: Without knowing the remainder of your tax picture (other income, expenses, etc.), it's hard to pick ...
|
| transfer of property to allow medicaid benefits | 10/31/2008 |
Q: My parents are elderly and have become quite feeble and needy in the past few years. They have ...
A: Connie, It appears that the only thing they could do would be to hold on to the property and not ...
|
| Renting a house | 10/31/2008 |
Q: My family and live in Harvey, La. just outside of New Orleans, and we are considering putting our ...
A: All of your questions depend upon the situation in your local area. Real estate use and value are ...
|
| deed for joint tenant, right of surviver | 10/26/2008 |
Q: My brother and I were deeded my mothers home in 2000 as joint tenants right of survivor. I live in ...
A: Steve, The easy solution is to have the home appraised and buy out your brother's part of the ...
|
| residential investment mortgages put into an LLC | 10/24/2008 |
Q: Fannie mae last month changed their guidelines on investment properties by which an investor can now ...
A: I can't find anything in Fannie Mae guidelines that allows more properties if they are owned by an ...
|
| tenant vacate property without notice. | 10/23/2008 |
Q: I had a residential rental contract with a tenant: beginning 03/25/2008 with an ending date of ...
A: Romeo, In short, probably the best you can do is keep their deposit and apply it towards unpaid ...
|
| Complained received from Property Manager | 10/22/2008 |
Q: I live in a condo with my wife, 8 year old daughter and 6 years loud son. I have received a letter ...
A: You may want to ask the property manager for specifics regarding when your neighbors say you are ...
|
| Turn primary residence into rental property, buy new primary residence | 10/10/2008 |
Q: I currently own and occupy a condo in VA for 2+ years (Property A). Right now I enjoy the tax break ...
A: Joe, Yes, the primary benefit of the LLC is liability protection. I'm working on settling the ...
|
| Turn primary residence into rental property, buy new primary residence | 10/10/2008 |
Q: I currently own and occupy a condo in VA for 2+ years (Property A). Right now I enjoy the tax break ...
A: Congratulations on your ability to buy more property! This is certainly the time to do it. Here is ...
|
| Rental Income Property in a Living Trust | 10/9/2008 |
Q: I inherited two separate, owned rental Condo Units from my mom's Living Trust. I did not receive the ...
A: Sam, I believe your mom may have set up a complicated situation, which may have been either her best ...
|
| Condo Association Charging Unauthorized Fines | 10/9/2008 |
Q: My Condo Association charged me fines which were not in our Bylaws. State Law stated these fines ...
A: Sorry to hear about your problem. I have 2 recommendatios for you: - Any time you are dealing with ...
|
| Rental Income Property in a Living Trust | 10/9/2008 |
Q: I inherited two separate, owned rental Condo Units from my mom's Living Trust. I did not receive the ...
A: Sam, Sorry to hear about your loss. Normally, the trustee shares information with heirs on a regular ...
|
| going in cap rate vs terminal cap rate | 9/28/2008 |
Q: I have qn after this.... If i not mistaken the following is one of your replies ************** In ...
A: Mathematically the cap rate would be lower if income is the same but the price goes up. Stablized ...
|
| starting a Cal Property Mgmt business | 9/24/2008 |
Q: I live in California, and am interested in starting a property management business. What are the ...
A: What kind of property management are you going to do? Residential, commercial, association? Each ...
|
| property manager | 9/18/2008 |
Q: I'm looking for a property manager in the Los Angeles area (Specifically in the Agoura Hills area) ...
A: A single condo is tough to hire a property manager for because there is usually little profit left ...
|
| property manager | 9/17/2008 |
Q: I'm looking for a property manager in the Los Angeles area (Specifically in the Agoura Hills area) ...
A: Since you didn't say what type of property you need managed, I can't provide a specific answer about ...
|
| Residential property mgmt. and taxes | 9/12/2008 |
Q: We live in CO and are thinking about using a property mgmt. company to help with some of the ...
A: Shannon, Other than the having to pay for the manager, hiring a manager could cause your investor ...
|
| security deposit | 9/11/2008 |
Q: I hope you can help... I entered into a lease for an apartment in Athens, Ohio two years ago and ...
A: it's supposed to work like this: - the owner or manager of the apartments is supposed to keep a ...
|
| Common area costs | 9/10/2008 |
Q: Renting in medical office building for many years, new landlord is passing on to tenants a ...
A: Your logic is understandable, but it isn't how owners view the situation. Owners know that good ...
|
| Starting a Property Management Firm | 9/9/2008 |
Q: Do you know or can you point me to a web site to find out how to start up my own property management ...
A: The best place to start is making sure you are compliant with state licensing and housing laws. ...
|
| Access to Commercial Buildings | 9/5/2008 |
Q: I am in the process of developing a business that serves employees in large (skyscraper) buildings ...
A: Anne - I recommend you speak with the building owner or manager for sites that you are considering ...
|
| Property Manager Issues | 8/28/2008 |
Q: I had been with a property management firm for 6 years. When we decided to terminate our business ...
A: One of the handiest tools a property owner can carry when on their property is a video camera or a ...
|
| Property Management softwares | 8/26/2008 |
Q: My name is Natalie and I would like to know how many softwares are there? I know Yardi and WIZ, and ...
A: There are tons of property management software programs out there. Before you can choose the right ...
|
| Prop Mngt Co Hires husband for large paint job | 8/22/2008 |
Q: Some tenants and owners (CA San Diego) have complained to the baord and Prop Mngt Co about the ...
A: The board should be giving the management company specific guidelines for hiring service providers ...
|
| Property Management Agency | 8/21/2008 |
Q: Is there a law regulating how much rent can be charged to an on-site resident manager by the ...
A: I don't know of any laws that cap rents, unless the property you refer to is located in a rent ...
|
| Recourse Against Non-Responsive Property Management | 8/19/2008 |
Q: I was wondering what other avenues I can explore with regard to my property management company not ...
A: Mark, Unfortunately, I'm getting questions like yours often. I believe that most management ...
|
| Post Office Boxes on Site Of Apartments | 8/15/2008 |
Q: Cape House Apt. Complex Building 4 which has @ 30 apartments. The mail receipt boxes are damaged. ...
A: You will need to hire a lawyer to explore your legal rights. From a practical point of view, if the ...
|
| Forms and Contracts | 8/13/2008 |
Q: John, I starting a residential property management division of our real estate brokerage firm. ...
A: Your forms package will depend upon where you live and the type of property you are going to manage. ...
|
| property manager | 8/12/2008 |
Q: i have a prop in Colorado,the agreement with rental agent renews every nov. automatically. how do i ...
A: Check your rental agent contract, there should be a termination clause that says either party may ...
|
| interested in starting a property management firm | 8/12/2008 |
Q: Mr. Souerbry, My name is Seth Infante and I currently have a degree in biochemistry as well as a ...
A: Seth, I consulted with my partner in the Sarasota area and it appears requirements are based upon ...
|
| interested in starting a property management firm | 8/12/2008 |
Q: Mr. Souerbry, My name is Seth Infante and I currently have a degree in biochemistry as well as a ...
A: Since I don't know what state you are in, I can't advise you on the requirements of opening a ...
|
| joint ownership | 8/9/2008 |
Q: divorced for 9 years...divorce did not contain any property settlement...property in both ...
A: Larry, I would expect that if she wants to she can force a settlement by taking you to court. You ...
|
| Sue management company | 8/6/2008 |
Q: Can I sue a management company for leaving me homeless b/c the apartment is not ready like they said ...
A: Gabriel - Your question is best put to an attorney, but I've seen this happen a few times and will ...
|
| money order | 8/4/2008 |
Q: I dropped off two money orders in the night slot at my apartment office for rent equalling $536.18 ...
A: Rachel - If the manager has checked again to make sure your payment hasn't been stuck in the slot or ...
|
| prop. management | 8/4/2008 |
Q: please help me. i have this mang. company for my rental prop. Something wrent wrong with a house. He ...
A: Dee, I recommend you take pictures of all the damage you find and consult your business attorney. ...
|
| joint ownership | 8/2/2008 |
Q: divorced for 9 years...divorce did not contain any property settlement...property in both ...
A: Larry - I assume your ex-wife wants her money now? Or does she want it when you pass away, assuming ...
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| Rental management company let go | 8/1/2008 |
Q: I have a rental property I own which was rented by a management company. My contract with the ...
A: John, Unless language in the lease says otherwise, the current lease became invalid the minute you ...
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| property management | 8/1/2008 |
Q: We have a 48-unit condo community. Our PM has been with us for 8 years.I have recently been elected ...
A: You have two primary responsibilities as a board member: to obey the bylaws and to act in the best ...
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| ligitimacy of requesting a professional management for our condo | 7/31/2008 |
Q: Due to problems associated with various condo repairs and frequent fee hike (over 50 units), I w'd ...
A: If you live in a larger metropolitan area, you should be able to find several management companies ...
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| Property Management Fees | 7/29/2008 |
Q: What are the customary fees for property management firms who manage small apt buildings and retail ...
A: Customary is a percentage of rents, usually 7% to 10%. The rate tends to be lower if you give the ...
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| What to do with tenant who is 3 months behind in rent | 7/29/2008 |
Q: My mother has a tenant in a property who is 3 months behind on his rent. He occassionally sends in ...
A: Charles, Military people are often a "protected class," but more so when they are deployed, less so ...
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| Registered Sex Offender | 7/29/2008 |
Q: It just came to my attention that an occupant (not a lease holder) is a registered sex offender. The ...
A: Elena, Laws vary from state to state, so I recommend you consult with an attorney in your area ...
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| Locating a Prop. Management Company | 7/29/2008 |
Q: I own a two bedroom condo in a TIC building, I recently got a position across the country and am ...
A: Karin, Property managers are like any other business, they want to close the sale as soon as ...
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| management chaged hands | 7/28/2008 |
Q: I rented a home home from a management company. The owner of the property has "fired" this company, ...
A: Kristen - It depends on the language of the lease. If it says that the management company is acting ...
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| Management of Rental Apartments | 7/26/2008 |
Q: In NORTH CAROLINA, is it mandatory that a Property Manager have a real estate or broker's license to ...
A: If you are not an employee of the owners, yes, you need a real estate broker license. Take a look at ...
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| Residential Occupancy | 7/24/2008 |
Q: Isn't there a law that requires separate sleeping quarters for children of different sexes? Example: ...
A: Verneda - This question comes up a lot, but I've been unable to find such a law here in California. ...
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| Property Management Responsibilities | 7/23/2008 |
Q: I have a piece of property that a property management company has been managing. I went to visit the ...
A: I'd move forward with terminating the management company and threaten them with a lawsuit if they ...
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| Water bill | 7/23/2008 |
Q: I'm not sure you're the right person to ask my question, but I hope you are. We are tenants and pay ...
A: As a tenant, you have a responsibility to maintain the property in good condition, which also means ...
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| Water bill | 7/23/2008 |
Q: I'm not sure you're the right person to ask my question, but I hope you are. We are tenants and pay ...
A: Your landlord is following a common practice. The only way around having to pay for the water for ...
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| Property Management Responsibilities | 7/22/2008 |
Q: I have a piece of property that a property management company has been managing. I went to visit the ...
A: Where is the property located? How long between when you last saw the property in good condition ...
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| Unresponsive CondOA | 7/22/2008 |
Q: Now, it's been several weeks since I discovered-after a rainy day- a water leak originating from the ...
A: BEWARE OF MAN WITH WATER HOSE I once had a leak around a window and it drove me crazy. Rather than ...
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| Unresponsive CondOA | 7/22/2008 |
Q: Now, it's been several weeks since I discovered-after a rainy day- a water leak originating from the ...
A: If the management company won't fix your window, you have four potential courses of action. First, ...
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| built prior to 1978 | 7/21/2008 |
Q: Are there special requirements for a residential rental that was built prior to 1978?
A: There are a few things you will want to check. The most important relate to lead paint that might ...
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| Vacation Rentals | 7/18/2008 |
Q: I have done property management in the past, but not sure how this situation would work. There is a ...
A: In general, a broker license is required if you are hired to manage someone else's properties as an ...
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| Recourse for Condo building foreclosures etc | 7/14/2008 |
Q: I have a question about the recourse one would have for a issue with your condo building "going ...
A: Dan - Condo buildings can't go into foreclosure because they don't have a mortgage. Only the ...
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| Terminal Capitalization rates | 7/10/2008 |
Q: Sir I have seen my school text book compare Cap rates and terminal Cap rates. I am not sure how that ...
A: As a math nut myself, I realize there is no clear computation path between either the going-in or ...
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| property management fees | 7/10/2008 |
Q: We own a condo in a large condo building in Rockville, Md. It was purchased for the use of our son, ...
A: It's not clear to me who is charging you a management fee and what they are actually doing. If you ...
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| LLC | 7/10/2008 |
Q: I own and manage less than a dozen residential rental properties in Oklahoma. Should I place them ...
A: I recommend you see your attorney and tax pro to fully review how the LLC will impact your risk ...
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| Property Manager Requirements | 7/8/2008 |
Q: I live in California. My brother's company- which is based out of Atlanta- owns a chain of daycare ...
A: Your question has two answers: 1. If you are managing the property as an employee of your brother's ...
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| placing property into an llc | 7/1/2008 |
Q: We have a vacation rental property which has a mortgage and is owned in both my husbands and my ...
A: There are two reasons to place your property into an LLC. One: you have a lot of personal assets and ...
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| Terminal Cap Rate | 6/30/2008 |
Q: I'm struggling with a question for my real estate class and I don't think I get it. When may a ...
A: In short, terminal cap rate is higher than going in cap rate if income is stabilized and value goes ...
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| appraisal of rental property | 6/21/2008 |
Q: Twelve years ago my husband and I purchased a home about 8 houses from ours for the convenience of ...
A: Sue, Since I frequently work with estates, I see your situation often. Does the rest of the family ...
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| tax advantage second home | 6/20/2008 |
Q: You answered a questioned previously stating that you need to charge the going market rate in order ...
A: Your question is more tax-related than real estate-related, so I recommend that you see a tax ...
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| Apt lease moveout troubles; please help ! | 6/12/2008 |
Q: We moved out of the apt complex after 17 months of stay. The apt management said that there were a ...
A: In California, landlords have only a couple weeks to return a tenant's security deposit and they ...
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| Trust Purchase of Property | 6/2/2008 |
Q: I have a trust with considerable funds and really nothing in my own name. I would like to purchase ...
A: Sandy - Yes, you can pay rent to the trust. I have a client who owns a vacation property on the ...
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| Trust Purchase of Property | 6/1/2008 |
Q: I have a trust with considerable funds and really nothing in my own name. I would like to purchase ...
A: An important consideration is whether or not your trust is a Revocable or Irrevocable trust. If it ...
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| business license/prop management | 5/21/2008 |
Q: I live in the state of Washington, where I own one rental and my primary (hopefully more in the ...
A: Susanna - I recommend you have a quick consulation with an attorney regarding how you are holding ...
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| business license/prop management | 5/21/2008 |
Q: I live in the state of Washington, where I own one rental and my primary (hopefully more in the ...
A: You don't need a real estate license to rent out your own property in the State of Washington. Read ...
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| taxes for property management company | 5/20/2008 |
Q: I am new to property management this year and we (LLC) will be managing multiple properties for ...
A: Kari - Don't worry, this will be easy for you. Each month, you provide the owner with an Operating ...
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| moving real estate into an LLC | 5/16/2008 |
Q: My husband & I started an LLC for rental properties. We have 2 different lots that are paid in full. ...
A: Congratulations on using the LLC to help with tax and liability issues! You're using the strategy ...
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| Unlawful (frudulant) billing and Harrament from Condo Assoication | 5/6/2008 |
Q: I live in a condominium. I have received numerous claims for different items from my Condo ...
A: Your problem is extremely common. There are usually two root causes for your problem. One is that ...
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| Tax advantage for second home | 5/3/2008 |
Q: We're considering buying a house right next to our current residence for my elderly parents. What ...
A: If you don't charge your parents rent, the only tax deductions you will have on the new home are ...
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| Property Management charging unfairly | 4/30/2008 |
Q: Need your advice. I live in a subdivision where the home-owners association has ...
A: You have two issues, one is legal and the other is property management. Legally, you need to pay the ...
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| Have a complaint about a property manager | 4/22/2008 |
Q: I own 2 condos.My property manager has completely disregarded all my questions regarding repairs, ...
A: As I mentioned before, you would need to put a cash value on the costs you will have to incur before ...
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| Have a complaint about a property manager | 4/22/2008 |
Q: I own 2 condos.My property manager has completely disregarded all my questions regarding repairs, ...
A: First, let me say I am very sorry that you have had bad luck with a property manager. You have the ...
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| Verbal Agreement | 4/18/2008 |
Q: My elderly parents have been renting a home for 30+ years. There has never been a signed lease of ...
A: You've posed a couple questions, I'll try to answer each. - The IRS cannot force a landlord to ...
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| llc transfer and stepped up basis | 4/11/2008 |
Q: I have been part of a general partnership that owns a piece of rental property. I have recently ...
A: I recommend that your tax advisor help you compute the current basis of your interest in the ...
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| llc transfer and stepped up basis | 4/10/2008 |
Q: I have been part of a general partnership that owns a piece of rental property. I have recently ...
A: Yours is a question best answered by a tax specialist who can advise you based upon your specific ...
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| RENTING OUT ROOMS | 4/9/2008 |
Q: I want to start a business where as I can rent out the rooms in my house. It will be fully ...
A: Before I begin, let me recommend that you create a written business plan for your new business, ...
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| Smoking in non-smoking apartment | 4/5/2008 |
Q: I rented a studio in a building in Honolulu in March 2008, the online ad, my lease terms and the ...
A: Eyad, You have a problem that can be either a simple dispute or a legal issue. If you want to stay, ...
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