Tuesday, January 24, 2012

Did you know

it is not easy being a property manager. Mountain Manager does not represent this owner but what would you do in this case?

This particular tenant rents an apartment in the basement of a house. Upstairs is another tenant who thinks it is OK to play music any time he wants.

Now here is the question. Can the tenant in the lower unit break their lease if they have repeatedly asked the owner and tenant upstairs to stop playing his music after 10pm? The tenants have also called the police 2 times to try and get the tenant to stop playing the music.

In the lease it states the tenant has the right for “Quiet Enjoyment”. What would you do?

I have an opinion about this and will share it next week.

Friday, January 20, 2012

Did you know

About 5 years ago,it had become too confusing to use both the NC and GA leasing and management agreement forms. It was difficult to remember what each state had and did not have in their forms. So I asked my friends with NARPM (National Association of Residential Property Managers) to help. I put together a management agreement and lease agreement and had a local attorney make sure everything was legal. I have not looked at the GAR lease form until yesterday when I took a NARPM class on "Elements of the Lease Agreement".

I found out something that you need to know about if you are doing any leasing and using this form.

Please read Paragraph 8 below.

8. Utilities. Tenant acknowledges that all utilities and/or services are to be paid for by Tenant, with the exception of:__________________________________Tenant must connect or transfer utilities not provided by Landlord into the name of Tenant within ____days of the commencement of the lease.At any time thereafter, Landlord may, without notice to Tenant, disconnect any utilities serving Premies which are in the name of Landlord and are not being provided by Landlord under this lease. Landlord may, at Landlord's option and upon notice to Tenant, pay utilities and be reimbursed by Tenant as additional rent. For the purpose of this paragraph utilities are defined as the following: Water, Sewer,Electric Sanitation Gas and Phone.

Here is the problem with this paragraph. If tenant moves in and has not put any or all of the utilities in his name the Landlord CAN NOT TURN them off after the tenant has moved into the premises. The best way to avoid this situation is to have proof of utilities BEFORE tenant moves into the premises.

Thursday, January 12, 2012

The banking crisis has made a mess for many many many people. Banks gave loans to people who really weren’t qualified. Once the owner couldn’t pay they contacted the real estate agent that sold them the house. That agent did their very best to sell the house but houses weren’t selling unless they were in foreclosure or maybe if they got lucky they did a short sale.

Sometimes the owner would contact a property management company to lease the house which would at least give them some breathing room. That didn’t always last either. Then foreclosure took place.

If there was a tenant in the house, many times they were bullied by the bank. The bank demanding they leave even though the tenant has the RIGHT to stay. The bank would tell them they had to leave even though they had a valid lease. The only way the bank could make them move was if the person buying was going to live in the house. Then the bank must give a 90 day notice.

Here are the ones that have been hurt.

1.the owner of the property

  1. realtor listing the house
  2. property manager who managed it
  3. tenant who lived in the house

Banks need to get their act together. Work with the owners and give them a better loan. Work with the realtor and sell the property easily

Work with the property manager and allow them to continue managing the property

Work with the tenant and not be such a bully