Keep Your Rental Property from Getting Damaged

We’ve all seen the frightening images of hoarders on reality TV, but it’s hard to imagine actually knowing someone who might suffer from the condition. Even worse, it’s hard to imagine that someone might be living like that IN YOUR RENTAL PROPERTY.

 

The first step to detecting a hoarder is to understand the condition. Hoarding syndrome is defined as: “Collecting excessive quantities of poorly useable items of little value, failing to discard items, and difficulty organizing tasks.”

 

A red flag might be if your tenant has a lot of “things” piled up that seemingly have no monetary value, yet they refuse to discard of it. For example, if there are piles of what appear to be trash in a yard, but it’s never brought to the curb for pickup. Also a home with a strong, foul odor could be the result of rotting food and garbage. Be wary of any tenant who constantly makes excuses to delay home inspections, or is never around to let you voluntarily enter the home.

 

 

 

 

People with this condition could be hoarding piles of “things” that matter to them, and live in such a way that all furniture, floors, and rooms are piled with junk. There arealso animal hoarders, who take in dozens or hundreds of dogs, cats or other pets. Either situation would be disastrous for you, the property owner.

 

Believe it or not, this “common” psychiatric condition affects an estimated 700k to 1.4 million Americans, and few are actually receiving treatment. Researchers say that hoarding in older adults can be quite dangerous to ones health, as it creates conditions suitable for fires, falls, unsanitary living, and inability to property care for oneself (eat, use the toilet, leave the home). It can also attract vermin or insects (if spoiled food is being hoarded), which is a detriment to sanitation and health.

 

If neighbors are complaining to you about excessive animals, trash or strange smells, take the claims very seriously. Evicting any tenant can be time consuming an expensive, but cleaning up after a hoarder can cost tens of thousands of dollars in waste removal alone.

 

To avoid renting to a hoarder, find out how to properly screen your tenants and what other red flags to look for by visiting our website today!

 

We’d love to hear your tenant nightmare story! Enter to win our Tenant Horror Story Contest today to become eligible to win $400 in FREE tenant screening services!

 

4-1-1 on Radon Testing

Landlords in Maine are scrambling to comply with a new law that requires radon testing in all residential rental buildings. The deadline was March 1, and while many are doing what they can to avoid being fined $250 per violation.

 

So, what is radon?  It’s a colorless, odorless, radioactive gas that forms from the decay of  radioactive elements such as uranium, which can be found in soil and rock. Radon can transmit from the ground to air and water. It can be found outdoors in low levels, but in homes, dwellings or well water it can spike at dangerously high levels.

 

Long term exposure to radon can cause cancer. You can buy home testing kits to test the levels on your property, or you can hire a professional. The Environmental Protection Agency (EPA) recommends that all buildings be tested below the third floor for radon detection.

 

Landlords can address problems with radon in rentals in several ways. First, you can provide good ventilation with open windows and fans to disperse the gas.  Also, proper sealing of the foundation and lower levels will help to keep the gas from seeping from the soil into the dwelling. A radon contractor would be the best source of knowledge for your particular region and structure.

 

The EPA also has more information for tenants on their website.  You can also find a radon contractor in your area here.

 

For this and more information on maximizing the profitability of your rental, please visit our website at http://www.alwaysscreen.com.

Top 5 Tenant Excuses

You think you’ve heard them all before, but then your tenant drops another crazy one. What are some of the worse excuses you’ve ever been given by tenants?

 

1. “But, it’s Christmas!”  Has there ever been a more frustrating excuse for not paying rent than the holidays? Some tenants actually think their “obligation” to buy presents outweighs their lease obligation to pay rent.

 

2. “That dog you see/hear on the property is not ours, therefore shouldn’t require us to pay a pet deposit or be evicted.” It doesn’t matter to whom the animal belongs to. If your lease prohibits pets, or requires an added security deposit than that is the rule governing the property.

 

3. “I smoke marijuana for medical reasons.” Anyone claiming this better have a really authentic doctor’s note. Also, it is still your right to include a smoking ban of ANY kind in your lease.

 

4. “My job won’t pay me.” This is why employment verification is so important. If someone has a legitimate job, they should be getting legitimately paid. Do your part to make sure you are renting to individuals who will not make excuses for late payments due to sketchy employment situations.

 

5.  “But my last landlord let me paint.” Again, if you don’t want tenants to do certain things then make sure your lease indicates just that. Be very clear on what is and isn’t allowed in your rental.

 

For this and more information about screening tenants, please visit our website at http://www.alwaysscreen.com.

Gold Medal Landlords

In honor of the Sochi Winter Olympics, ATS Inc. would like to recognize these landlords for their Gold Medal performance in the industry!

 

Bronze Medal: Shorenstein Building Management Company

 

In 2010, Shorenstein sought to reduce operating costs through energy efficiency measures. How did they do it? By implementing several programs to raise consumption awareness among tenants. Some tactics included turning down lights during non-peak business hours and flipping off key building functions on Saturday’s.  The company was able to trim $1.7 million off of their expenses for the year, and they also curbed their carbon monoxide emissions by 4,800 metric tons annually.

  

Silver Medal: Preservation Development Partners

This company recently purchased an affordable housing complex in the Bronx, and plans to keep the units accessible to low-income residents for at least another twenty years.

The building is houses 252 units, which will remain at a reduced-rate of 30% of residents income. The new owners are planning to spend about $35,000 per unit in renovation costs, and are now being praised for having the “tenants best interests at heart.”
 

Gold Medal: Willow Tufano

At the tender age of 14 Willow became a landlord in Florida.

Willow now owns two properties at the age of 16, and was recently featured in a film that promotes alternatives to public schools. Kudos to Willow on being one amazing real estate investor!

 

For this and more great landlord stories, and to get the fast, reliable tenant screening reports, please visit our website at http://www.alwaysscreen.com.

Landlords: Get Stranded on a Deserted Island

Pretend you are a landlord and want to disappear for a while on a deserted island. What things could you not live without? Assuming of course this island has wi-fi or a cell phone tower here’s our suggestions of what to take with you:

 

·         Your smart phone: Manage all of your online transactions (rent deposits, payments to vendors) from your phone.

·         Contact list that includes:

1.      Insurance provider information

2.      Repair and maintenance service contact information

3.      Tenants contact info and rental property addresses

4.      Local police and fire within proximity of your rental properties

·         Designate least one person back on dry land who knows the location of your lease agreements and other legal documents

·         Sunscreen

Who wouldn't want to be stranded on a deserted island?

 What items would you need to take with you before escaping to a (Semi)-deserted island?

 For this and more advice for landlords, please visit our website http://www.atshome.com

Landlord Christmas List

Are you making a list and checking it twice? Here’s our list of people every landlord should include on his/her Christmas list!

 

Make your list, and check it twice!

1.      Your tenants: They like to know you are thinking of them during the holidays. A personalized not goes a long way in keeping the relationship running smoothly.

2.      Your trusty handyman: If he works weekends or holidays, you might want to send him more than a card. A bottle of wine or gift card to Home Depot couldn’t hurt either!

3.      Your security man (or service provider): Goes without saying, let them know you appreciate the work!

 

Others not to forget!

 

4.      Office Assistants: Because without them, you’d be completely disorganized!

5.      Property Managers: After all, you trust them with your investment

6.      Trash provider: Not an easy job, especially if you have multiple units

7.      Lawyers: As much as they love when you call for a problem, they like to hear from you when things are going well, too!

8.      Tenant Screening provider: Just because J

9.      Mail carrier: Their job isn’t easy either, especially if your property has multiple units and frequent change of faces.

10.  Real estate agents: You never know when you’ll have to call them up for help in filling a vacancy or buying a great investment property!

 

For this and more info on landlording, please visit us at http://www.alwaysscreen.com

Landords: Planning to take a holiday break? Here’s how!

We know that working in the property management industry it’s almost impossible to “disconnect” and break away for a vacation. But, perhaps this year you can no longer put off that trip to see Grandma for Christmas, OR you’re finally taking a long weekend to go skiing. After all, landlords deserve vacation, too! 

 

Before you take a holiday vaca, make sure your interim landlord is prepared!

So, assuming there is someone that you trust implicitly being left at the helm, here’s our advice on ways to ensure things go smoothly in your absence:

 

1.      Make sure your stand-in has the names, phone numbers and and addresses every single one of your current tenants.

2.      Provide your sub with an extra set of keys that are PROPERLY LABELED for each unit.

3.      Leave behind a credit card or some signed blank checks in the event theirs a major event (i.e. costly repair) that is needed while you’re away

4.      Send your tenants a letter or email informing them of your vacation plans, and the name of your substitute landlord, and all of their important emergency contact info.

 

Just taking a few extra precautions can ensure you get a restful break from the daily grind of landlording.

 

For this and more tips on managing your properties over the holidays, please visit our website.

Reasons Landlords Should be Thankful

1.      New laws favor landlords

Over the past year, we’ve told you about several laws across the US that have been passed in favor of making your job easier. In Florida, it’s now easier to evict and landlords in Wisconsin can throw away abandoned items without facing prosecution.  Having the law on your side is always something to be thankful for!

 

2.      YouTube can help you do anything.

So, perhaps you aren’t a handy landlord. The good news is that it’s 2013, and if you have a computer and the internet, you can fake it until you make it. Did you know there are tutorials on YouTube for ANYTHING and everything home-related? Would you like a 20-minute instruction on installing aceiling fan? How about learning to fix a toilet in 7-minutes? Yes, we will always be thankful for YouTube.

 

Be thankful the answer to many questions are just a click away

 

3.      Delinquency and Foreclosure rates have improved

How much have they improved? Some estimates say to their lowest rate since 2008. This is good news for property owners everywhere, as a dip in foreclosures and delinquencies can only help the value of your own property to stabilize or perhaps finally see some improvement!

 

 

So what are you thankful for this year? Tell us below! For this and more information about landlording and real estate investing, visit our website at http://www.alwaysscreen.com

Landlording by the #’s

Here are some interesting numbers and statistics about landlording in the United States:

 

·         Rented single-family homes are on the rise in the wake of the housing bust. Thirty-two of this country’s top metropolitan regions 1/5 of all occupied single-family homes are rentals (USA Today)

 

·         29% of single-family homes in Las Vegas are now occupied by tenants (USA Today).

 

·         Landlord insurance typically costs 25% more than homeowners insurance. (Houselogic.com)

 

·         Expect annual repair and maintenance costs to run about 1% of your property’s value every year. So, if your home is worth $100,000, you will probably spend at least $1000 in repair and maintenance. (MSN Money)

 

·         If your state does not have a law regulating late rent fees, know that a good average is 5% added on to the amount owed. (NOLO.com)

 

·         32% of homes in the United States are renter-occupied (National Multi Housing Council)

 

  

 

For this and more information for landlords, visit our website at http://www.alwaysscreen.com

Which is better: Hardwood or carpet?

Every property owner has to grapple with that all-important choice: carpet, or hardwood?

 

For homeowners, the decision should be based on lifestyle. But for landlords, there is more to it. There are several pros and cons to both surfaces, so here are some things to consider:

 

Noise

Is your rental on a second floor or higher? Some buildings mandate carpet flooring if there is living space below the unit because of the noise. Carpeted rooms are quieter than hardwood and for that reason some people also prefer it on the 2^nd floor a two-story home.

 

Pets

Animals can ruin carpet easily, so if you allow them in your rental unit you might want to consider hardwood (or even laminate flooring). That’s not to say pets excrement can’t ruin hardwood also, but those circumstances would have to be extreme. Constant carpet replacement and cleanings can get expensive if pets ruin them frequently.

 

Expense

If you are remodeling a rental, consider that hardwood is expensive to install – up to more than $10/sq ft. Carpet can run up to $5/sq ft. However, wood is longer lasting. While it’s a bigger investment up-front, it will add value to your property for years to come as it rarely needs to be replaced.

 

Routine Upkeep

Carpet will hide everyday dirt better than hardwood. A tenant would have to sweep a hardwood floor more frequently than they’d need to vacuum carpet.

 

So which do you prefer in your rental and why? Comment below!

 

For this and more landlord tips, please visit ATSInc’s website today!

How Paint Color Affects Mood

Whether or not you decide to let tenants paint the interior is your decision. However, should you be so bold as to forego the standard neutral tones in favor walls with color, keep in mind that your decision could impact the mood of your renters.

Some psychologists believe that color changes the chemicals in our brains, which directly correlates to our brain energy and level of excitement. For example, it is believed seeing the color red can increase heart rate and make us more alert. Perhaps it’s not the best color to use in bedrooms where one goes to relax.



 

Orange is considered to be warm and joyful color. It reminds us of the sun and ripe fruit, and therefore would be best suited for gathering rooms such as a living room or kitchen areas. Your prospective tenants might be turned off to too bold of a color in bathroom or bedroom areas.

A blue bedroom can create a calming effect for tenants

Blue is considered the most relaxing of colors. It should be used in rooms where one wants to feel calm and centered, such as bedrooms, bathrooms, or a personal office space.  Green is on the same spectrum of blue, and is also considered to make us feel serene and refreshed. Keep in mind that you can add green to a room not just by painting, but by adding plants or having a window that looks out to a lush lawn or trees.

For this an other tips on decorating your rental property, please visit our website at http://www.alwaysscreen.com.

Pros of renting to tenants with pets

In a competitive rental market, some real estate professionals might suggest you offer incentives such as free wifi, first months rent free, or a store gift card to qualified tenants just for signing a lease. Others say the solution could simpler: just allow pets.

While pets can be taboo for landlords because of the possibility they could damage your rental, they can also bring about some positive benefits to a property owner.

Let’s look at some of the Pros to allowing tenants to have pets:

·         Less vacancies

If you advertise your rental as “pet friendly,” chances are there will be greater interest in your property.  One study found that rentals allowing pets rented in 19 days, versus 29 days for non-pet-friendly units¹.   

·         More long-term rentals

The same study found that tenants with pets tended to rent for an average of 46 months, as opposed to non-pet-friendly units where the average tenant rented for 18 months.

·         More profit for landlords

Researchers also found that landlords who allow pets see more demand, and therefore can charge higher prices for monthly rent. How much higher? According to the survey, 20-30% higher rents.

Tenants allowed to have pets rent for twice as long as those who can’t

What is your stance on renting to a tenant with a pet? If you’ve had a positive experience, we want to hear about it. Comment below!

For more information about tenant screening, and other tools every new landlord or real estate investor needs, visit ATS Inc.’s website at http://www.alwaysscreen.com.

^{1 http://www.firepaw.org/CompanionAnimalRentersPetFriendly.pdf}

SF Landlords Sentenced to 4 Years In Jail

Last month, two married California landlords were sentenced to four years in jail after being convicted of several reckless acts aimed at evicting and scaring their tenants. The crimes took place over a two-year span, and led the couple to become dubbed, “Landlords from Hell.”

The district attorney in San Francisco said the landlords harassed their tenants by cutting off power and phone service, changing locks, and illegally removing and/or destroying their belongings. They even were charged with soaking the victims’ clothes and electronics in ammonia and using a chainsaw to cut a hole in the floor of one tenant’s unit. They also severed floor joists in hopes of making the building unsafe, and hoping it would ultimately it collapse under the tenants.

The duo also sent fraudulent emails pretending to be their victims. The emails were aimed at making it appear as though the tenants were threatening to kill the landlords’ children.

Authorities say the motive behind the attacks was all due to the landlords wanting to renovate the rental units and sell them off individually. However, California has strict laws regarding the harassment of tenants by landlords, and prohibits the eviction of tenants without just cause.

For more landlord tips or to get the best background check, visit ATS Inc’s website today!

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What people REALLY want in a vacation rental

This week, we’ve discussed how to pick the ideal location for those real estate investors interested in buying a vacation home, and what costs to consider. Today, we’ll examine what qualities tenants are looking for in a great vacation rental.

Privacy

Many people will choose a rental home over a hotel because they don’t want to be away from the crowds. Vacation homes without noisy elevators or private pool can be quite attractive to renters looking for some peace and quiet.

Space

Offer as many sleeping areas as possible without making the home too crowded. Pullout couches, trundles, bunk beds are great ways to increase the likelihood of renters because you can appeal to bigger-sized groups. Some people also prefer a rental property with a fully functioning kitchen so they can cook their own meals, or an outdoor space where they can barbeque and let their children play.

Renters like extra beds in vacation properties

Amenities

Vacationers want to hit the “easy” button when they arrive to a retreat for several days. So, having on-site laundry, free wi-fi, functioning kitchen appliances, and good parking are all big plusses. Also, being near a bus route, bike trail, or having a community gym can be very attractive property features. The more qualities you can offer, the more likely your rental will have high occupancy rates all year long.

Visit our homepage today to find out why ATS Inc. is the best background check choice for landlords, property managers, real estate investors and agents.