I rarely use the “M” word because I’m not an industrial hygienist or a laboratory. However, mold is commonly talked about in the real estate world and is everywhere – that simple fact doesn’t take away from the seriousness of it. A mold infestation or contamination can be extremely damaging to a property and to investment property managers. Not only does mold put your tenants/residents at risk, but you and the property owner may have to spend a significant amount of time and money to properly mitigate the environmental condition and make the rental unit a safe and comfortable place to live. Moreover, mold creates a significant stigma on a property which most certainly attaches and affects value and desirability. In addition to educating yourself about mold, one of the best things you can do is focus on the common areas (bathrooms, kitchens, laundry rooms) where mold grows and do your best to prevent it by keeping these rooms, walls, ceilings as dry as possible. However, if mold/mildew growth is already there, it’s time to take care of it before the issue becomes more serious. Remember, a property manager and/or landlord’s primary duty is to provide a habitable rental unit – a unit with mold is not habitable.
Posts Tagged ‘Return on Investment’
Able Glass, Window & Door has been installing windows and doors in all types of residential and commercial (apartment) buildings since 1969. Over the years we have seen many different types of windows, window systems, and installation methods come and go. Window trends appear with the different types of construction, architecture, and consumer tastes as well as the ever changing rules of the industry standards to ensure that a building is energy efficient. Window design and construction has gradually improved with technological advances in making a building use less energy, which helps reduce energy costs. Today, in the San Francisco Bay Area housing market, we are experiencing some new trends in the types of windows being constructed and installed primarily for residential rental and investment properties by professional property management companies. These trends continue to develop and evolve but here is an outline of what we are seeing in today’s environment.
If you’re looking for the perfect place to call home in the Bay Area, you may feel overwhelmed by the abundance of options. Mountain View, Saratoga, Los Gatos, San Jose, Sunnyvale, Cupertino, Los Altos, Menlo Park, Palo Alto… How do you narrow your options? You need to learn all you can about the pockets and enclaves in this amazing region of California. If you are looking for a family friendly area with charming homes that are priced reasonably, take a closer look at South Palo Alto real estate listings.
If you are looking for a quiet, peaceful Palo Alto neighborhood look no further than Leland Manor, Garland, and Embarcadero Oaks. Located in the middle of Palo Alto, there exists these three small neighborhoods, all connected and which extend north from Oregon Expressway, to Middlefield Road, Embarcadero Road, and Louis Road.
These three neighborhoods were annexed into Palo Alto proper in the 1930s. Each quaint neighborhood has its own unique and pleasureful personality. Most of the homes in these neighborhoods were built in the 1930s to 1960s and many have been upgraded and improved with time. Many of the homes in these three mini-neighborhoods were built as three and four bedroom ranch-style homes, sprinkled with the occasional custom Eichler. The central location for Leland Manor, Garland, and Embarcadero Oaks allows for ease of access to US 101, local shopping, great Palo Alto schools, Stanford University, and community amenities.
In a historic move California Governor Jerry Brown issued an emergency order and declaration of water conservation rules which are now imposed on everyone in the state with the exception of farmers. There will be fines and potential rate hikes for residents that fail to hit stepped-up conservation targets as the state endures the fourth straight year of severe drought conditions. Governor Brown has issued water-saving orders for 25 percent statewide reduction in usage which includes bolstering enforcement of water waste, requiring drip irrigation at new construction projects, eliminating rouge farmers who divert water illegally from irrigation channels, and implementing an investment strategy in new water-saving technologies.
Are you a rental property owner? If so, it’s great isn’t it? You receive income from the rents, also known as other people’s money (OPM), and you realize capital appreciation from the equity gains in the value of the property – a rising tide raises all boats. In fact using OPM is a great strategy for paying for your child’s college education, and providing a passive income stream for yourself in your retirement. The key is buying and holding onto an investment property as soon as possible and taking full advantage of the Internal Revenue Code (IRC) allowable deductions and expenses. Becoming educated about this investment strategy is easy, fun, and should be taught to your children.
Over the years I took the deposition of several landlords – each of whom did not know the first thing about what the term “habitability” meant, nor could they articulate the law with respect to their requirements as a landlord. “[I]gnorance of the law is no excuse,” and many landlords and property owners have managed to skate by without knowing they are violating the law when it comes to habitability of rental units. California Civil Code Section 1941 et. seq. states in pertinent part that “a rental unit is required to be fit, or habitable, to live in and rent by tenants. The rental unit must substantially comply with local and state building, health, and safety codes that materially affect the tenant’s health and safety.” In California landlords and tenants each bear responsibility for certain kinds of repairs – however landlords ultimately are legally responsible for making sure the rental unit is habitable.
A landlord who wishes to terminate a periodic (month-to-month) tenancy may do so by properly serving advanced written 30-day or 60-day notices on tenants. The operative word is properly. The reality is that most “mom and pop” landlords are on cruise control and don’t know the “ins and outs” of landlord-tenant law, namely California Civil Code section 1946 et. Seq. Over the years I defended many tenants who were improperly served by the landlord – the result of which was a delayed end of the tenancy. By failing to properly serve notice the landlord will be surprised when they find out (usually at the end of the 30 or 60 day period) that they need to re-serve the notice thus resetting the calendar for another 30 or 60 day period.
Barron Park is the one Palo Alto neighborhood with the greatest range of types of construction and architecture all with a rural to suburban atmosphere. Many people are attracted to Barron Park because there is so much diversity in the housing stock. Barron Park is improving every day with newer homes being constructed with a Craftsman flair. This neighborhood might be for you if you enjoy a slightly slower pace of life with a well-regarded community association and friendly neighbors who make an effort to become your friend.
Developed after World War II “Midtown” Palo Alto contains all of the essential elements necessary to be a classic desirable family neighborhood. Midtown is unambiguously located right smack in the middle of Palo Alto. At inception Midtown was supposed to be a prototypical track neighborhood designed to accommodate California’s state-wide post-War development boom that defined the start of suburban sprawl. Originally considered South Palo Alto, Midtown grew so big, so fast that the two separate neighborhoods – Midtown and South Palo Alto – were destined to be separated out of necessity. Today Midtown is a distinct, charming stand-alone neighborhood which epitomizes Palo Alto neighborhood living.