Property Management – Karen's Perspective

www.BuyNCTriad.com

We always have lots of available properties – to buy, rent, lease-to-own, owner finance, manage, sell – whatever your real estate needs, we can help!

www.BuyNCTriad.com

12 / 21 / 2011
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RUCO Laws – Are They Still in Effect?

State Assembly Building

In June, the NC General Assembly voted to amend the state RUCO laws (Rental Unit Certificate of Occupation). Until June, the law had been that, before a property could be rented out, it had to be checked by a RUCO inspector and was not deemed marketable without a RUCO certificate of occupancy.

The question is whether or not that law is now dead. The June amendment has been interpreted as an abolishment. But was it?

The section of state law that was amended pertained to building inspections in cities and counties and stated that these inspections can no longer be made without “reasonable cause.” The Greensboro ordinance, however, was enacted under a separate statutory section dealing with minimum housing standards.

12 / 15 / 2011
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30 Tenant Questions

Since the housing meltdown, nearly 3 million new households have become renters. At least 3 million more are expected by 2015. If you’re new to the rental market, you’re not alone. Rentals are on the rise! So, if you’re planning to rent, just as with buying, you need to do some homework. Here are some things to consider before you sign a contract.

Questions to ask your landlord:

06 / 28 / 2011
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House Not Selling?

This is a really tough time to be selling a house. If you have your house for sale, you already know that.

There are tons of homes on the market meaning you have lots of competition for qualified buyers.
Buyers want foreclosure prices even if your home is in perfect condition.
Buyers have so much to choose from that they want all the bells and whistles – hard surface countertops, hardwood floors, fireplace, deck, fenced yard, fresh paint, new carpets.
And, again, they want foreclosure prices!

Add to that the decline in housing prices. Are you “upside down” on your mortgage? (Do you owe more than your house is worth?) Or, even beyond that, can you sell your home for enough that you don’t have to write a check at the closing table?

Selling a house is expensive! First, you have to discount to compete, then there’s the real estate commission, closing costs, survey, inspection, repairs after it’s been inspected, current year property taxes, attorney costs, recording fees – where’s the profit?

I feel your pain because we buy and sell real estate every month. Selling has always been the hardest part but now it’s harder than ever.

May I make a suggestion? If you don’t HAVE to sell, don’t. Here’s How.

05 / 18 / 2011
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RUCO vs. House Bill 554

inspections

RUCO – Rental Unit Certificate of Occupancy – Since January 1, 2009, a certificate of inspection that is required on all rental properties here in Greensboro, North Carolina. Housing features covered by RUCO include:

Premises – The housing premises must be structurally sound and must be waterproof and weatherproof.
Equipment and furnishings – Occupants must have adequate heating facilities, potable water, sanitary facilities, and adequate space for sleeping.
Sanitation – All rooms used by the occupants must be maintained in a clean and sanitary condition.

New legislation and budget challenges may eliminate mandatory certification this year.

Does every rental property need to be RUCO inspected and certified?

05 / 09 / 2011
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Looking for Motivated Real Estate Agent(s)

Welcome

Hey! We’re looking for one or two more highly motivated Real Estate Agent(s) for our All Property Solutions brokerage.

We have 1 year as a full-service brokerage firm and 13 years as a successful real estate investment company.

Our ever growing property management division today manages 100 properties!

And, 0ur newest focus is growing the full service brokerage division.

Interested? To find out more about us and what we have to offer, contact jim@allpropertysolutions.com for an interview.

You may also fax in your resume to 336-834-8863.

We look forward to hearing from you!

05 / 01 / 2011
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Property Managment Questions and Answers

Management files

The following are some great questions from our students. Hope you find these helpful!

Should I charge a $25 app. fee when buyers want to apply to rent a property?
Yes, if they want to fill out your application, they pay the app fee. That pays for your time or your employees time to verify what they put on the app. Also, you will pay to check their credit or do a criminal background check and that cost should be covered by what they give you for their application fee.
What criteria do you normally use to select who you will rent to?
Employment history, income and the amount of money they have to put down.
Should I send out the rental/lease contract now in addition to the rental application to everyone that applies in advance so they can review it and know what they are signing onto in advance of the open house?
Read more…