Sacramento Property Management

We will discuss new laws from time to time. These laws are of interest and con concern to investors, property managers, realtors, landlords

1. The first is about air conditioning. R-22  refrigerant will be phased out during 2010. What does this mean? If a service call is required because the refrigerant is low, the tech will have to remove the R-22 and replace with a new product. The good news – no retrofitting with expensive add-ons.

2. All houses built prior to 1978 had lead based paint.  Beginning April 2010 all work required inside that will require work involving six squaare feet or more will required a certified contractor trained to work with lead based paint. If the work is outside and is over 20 squire feet than a certified contractor will be required.
We have discontined comments section. If you would like to contact me Lambertmunz@frontier.com

Finally, my book is published. We gave a class last night about the book and it was well received. The name is House Investor’s Manual.

It is about investment property, specifically house rentals. We expose what each house should have and what house to avoid, plus many real estate tips based on 44 years experience.

Contact us at propertymanager@abourpm.com for more information

Finally, my book is published. We gave a class last night about the book and it was well received.

The name is House Investor’s Manual. It is about investment property, specifically house rentals.

We expose what each house should have and what house to avoid, plus many real estate tips based on 44 years experience.

Contact us at propertymanager@abourpm.com for more information

In these hard times tenants and owners are filing bankruptcy. According to legal counsel this is what happens when tenant files bankruptcy. In a bankruptcy the tenant is exempt from  paying rent or other creditors. A bankruptcy may run a year or more to sort out. This proved too much of a hardship on landlords. The tenant enjoying use of the rental without paying rent for over a year.

A law was passed -I don’t know when- to give landlords relief. You may petition the court for bankruptcy relief. You must hire an attorney that performs this service. It will cost $1000 more or less. In about six weeks you should be granted relief from the bankruptcy. Then you can start an eviction.

What happens when an owner files bankruptcy?  The lease is not cancelled and the tenant must continue to pay rent. Property managers can still manage the property. They may be dealing with the referee rather than the owner.

We are not accepting comments by email only.  Propertymanager@arbourpm.com

Please allow me to share with you Odell Murry’s review of my book. House Investor’s Manual. It will be out soon and investors, especially new investors should read this book. Investment properties which include rental properties require management. It appears a lot easier than it looks. Thank you for indulging me.

Lambert Munz’s explanatory guide about the DO’S and DONT’S of buying properties to flip or rent is complete with valuable and useful information for the first time property investor.

As he notes for the investor, it is imperative to spend wisely, knowing which properties to choose enables success. Concurrently, it is important to buy carefully and intelligently. Munz details the pitfalls to avoid always reminding the buyer to stay focused on the purpose of the venture:  to make a profit.

Munz distinguishes between buying to flip verses buying to rent as each venue comes with its own distinct set of parameters.  He likewise offers sound advice to the rental property buyer by outlining strategies from pricing, marketing, and maintenance issues as well as educating this buyer about the differences between rent control and rent stabilization and how these policies may affect the outcome of the purchase.

In conclusion Lambert Munz knows and understands this business and willingly shares his expertise. Enjoy his book, follow his wisdom, and reap the rewards befitting a wise and sound investment.

Odell Murry is President and Founder of MAI Financial Services, Inc., and is a licensed real estate broker and mortgage banker. He has many years of real estate experience, having been involved in the ownership and management of several residential, commercial and industrial real estate investments.  Previously, Mr. Murry spent two decades in the retail industry as a leading executive at several national companies.  He has served as a member of the board of directors of the Vallejo General Hospital and is a present or former member of National Mortgage Bankers Association, National Association of Realtors, California Association of Realtors, Burbank Board of Realtors, and current board member of California Mortgage Association.

Welcome back from the wonderful holidays. Saw all family and grandkids.

Now it is back to work. It has been a challenging year with all the foreclosures. Lots of new buyers for the investment properties. I might mention that investors especially from out of town hire a buyer’s agent rather than a seller’s agent. The seller’s agent must represent the seller. The buyer’s agent represents your interests.  I have written a book that will be available soon that guides buyers on what not to buy. A friend of mine that is a mortgage banker has partnered with buyers of short sales. However, they will not buy condos. In my book one of the investments I recommend against is condos for rentals. Experienced renters avoid them because associations don’t like renters. The renters feel like they are being spied upon. If they are coming from apartment living condos remind them of apartments. They are looking for detached living such as a home.

I am cancelling my comments service. Too many fruitcakes and I received fruitcake for Christmas. However, you can email me at propertymanager@arbourpm.com