The city of Richmond has a new rent control ordinance that became effective January 1, 2017. There’s also a just cause for eviction ordinance in place, and today, we’re talking about what that means. Continue reading
In general, the range of property management prices you’ll find in the Walnut Creek area are between six and 10 percent of your monthly rent collections. Typically, your property management company will collect rent, deduct any maintenance costs, and then give you a monthly accounting report with your rent, after they collect their own fee. Paying a monthly management fee is something you should always expect, but an important question to ask is whether there are any other fees are associated with property management. Continue reading
Security deposits can be challenging to manage, and it’s usually where most of the disputes between tenants and landlords originate. We get a lot of questions from people who aren’t sure how much they should charge for a security deposit. Our response is usually to ask how much they want. Continue reading
Talking to a property manager before you invest in Oakland rental properties is a great way to ensure you’re making smart decisions. Today, we are sharing three investment tips that Oakland investors will find useful. Continue reading
There are fair housing laws at the federal, state, and local level that are designed to prevent discrimination in housing. It’s important that you know how to avoid housing discrimination, because you can find yourself in a lot of legal trouble if you deny an application for the wrong reasons or treat one tenant differently than you treat another tenant.
Avoid the Practice of Redlining
There are several protected classes in fair housing laws, and you cannot deny rentals based on things such as race, ethnicity, job, gender, or familial status. That practice is called redlining, and if someone files a valid complaint against you, it can cost thousands of dollars in civil penalties. For a complete list of protected classes, visit the HUD.gov website so you can read about the federal Fair Housing Act. You’ll also need to understand the California laws that prohibit housing discrimination as well as any local statutes.
Consistent Application Procedures
While housing discrimination can happen at any time during the rental process, even the advertising stage, most of the danger rests in the application process. We recommend you set general procedures for your applicants, and then follow those policies consistently for everyone who applies to live in your home. Provide a written list of application criteria so all your potential tenants will know what’s needed in order to get approved for a rental home. Then, as you are screening tenants, make sure you hold everyone to the same standards, and make sure you screen each application the same way. This is the best way to protect yourself against any allegations of housing discrimination. You’ll be able to demonstrate that you have a documented procedure, and you follow it for each application.
We have a four-part procedure for all of our applicants. We follow it for everyone so there is no danger of unintentional redlining. If you have any questions about fair housing and housing discrimination, please contact us at MSB Property Management. We’d be happy to tell you more about this effective four-part procedure.
There are a number of responsibilities that come with owning rental properties. Today, we’re sharing some of the most important things you need to be prepared for when you own an investment home. Continue reading
Today we are talking about some of the benefits of working with a professional property management company.
First, property management firms are the local area experts. Property managers know the local laws, city ordinances and the local rental market. Each city is different. Property managers can deal with rent control and some of the other things that are tough to know right off the bat.
When you work with a professional property manager in Walnut Creek, you will get some help in finding a better quality tenant for your rental property. Property managers have access to a larger pool of potential renters, and they also have the resources to perform better screening and more aggressive advertising.
Peace of Mind
Finally, hiring a property management company will bring you greater peace of mind. The cost is pretty minimal; for 6 to 10 percent of your monthly rent, you will get a lot of your time back and eliminate a lot of the stress and frustration that can come with responding to tenants. You won’t have to wake up late at night to take care of a plumbing emergency. Property managers can guide you through evictions and advise you on dealing with tenant issues. Professional property management gives you more time to do what you do best – invest in more properties.
If you have any questions about the value of professional management, or you’d like to hear more about the services we can offer, please contact us at MSB Property Management.
Today, we’re talking about Do-It-Yourself evictions and how they can be more costly than hiring an attorney.
At MSB Property Management, we always recommend that property owners use an attorney. Mistakes can be very costly. They will cost you time and money. Your eviction requires strict attention to timelines and deadlines, and you need to file the right notices in the right courts in the right city. Location is important when it comes to evicting a tenant.
You also need to evict for the right reason. Attorneys are local experts in evictions and the laws that govern them. They know the rules and what city ordinances and county ordinances need to be followed. They can pursue the eviction on your behalf and guide you through the entire process.
You don’t want to have to start your eviction process again once you realize you’ve done something wrong or a judge has thrown out your case. The wrong notice will make a big difference. That’s why it’s important to use an attorney and far more cost effective than doing it yourself.
If you have any questions about evictions or you need help managing your own, please contact us at MSB Property Management. We’d be happy to help you.