Property Mgmt Archives
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Mike Butler has the flu or worse on this one. His voice is about gone. Great information for cash flow, tips and more. Click Here for Full Video/Article (Members Only)
BEST Screening tool for Landlords: Housekeeping Check
After working up their application on paper and on the phone – get out of the office!
Ride by and see where they live. If it is ugly, tall grass, cars in the yard, no need to stop. If it looks okay from the street, then stop and knock on the door.
You MUST verify they actually live in this pretty home.
I explain my company sent me over and it is one of the final steps in their application process.
This almost final step is “Our way of verifying you live here and to see how you take care of your home.”
If you feel safe enough to eat a bologna sandwich then it looks like you might have found a good tenant. Many times I have stopped by and knocked on the door only to discover the applicant does not live there but is a relative or friend who asked for a favor.
#1 BEST SCREENING TOOL! – “HOUSEKEEPING CHECK”
Managing tenants effectively builds our wealth and begins with screening tenants properly when they submit an application. Most landlords use applications for a fee. My objective here is to give you a smorgasbord of screening tips allowing you to select items of your choice to work into your system.
Application: first of all, make sure your application is proper and legal and does not violate any fair housing laws or local laws. On the back, include a section with a few lines allowing the applicant a place to write comments. Also include a small section of text briefly detailing your qualifying standards and permission for the landlord to check all sources in evaluating their application for tenancy. Also include a phrase stating an “false or incomplete application” is a reason to be disqualified or not approved. Their signature line is below this small bit of text. Click Here for Full Video/Article (Members Only)
National REIA Applauds US District Court Ruling Upholding Fourth Amendment that Protects Property Owners from Unnecessary Gov’t Harassment
Cincinnati, Ohio) The National Real Estate Investors Association (National REIA) issued a statement today applauding the U.S. District Court’s (Southern Ohio) recent decision stating that the city of Portsmouth’s (Ohio) occupational licensing requirements, which are imposed upon landlords violates the Fourth Amendment to the United State Constitution.
Charles Tassell, Chief Operating Officer of National REIA said “Today’s ruling laid bare the excuses used by local governments to steal the freedoms of property owners.”
He further added that “The 4th Amendment is still alive and well, and citizens should NOT be forced to have their homes intrusively ‘inspected’ by warrantless searches. Every local government should take note that warrantless searches are STILL illegal and unconstitutional.”
Regarding the ruling itself, Tassell said “The ruling won by the 1851 Center For Constitutional Law was a victory for freedom against a tyranny with which the Founding Fathers were all too familiar. Citizens of the United States have an expectation to live without local, state or federal inspection of their home based on flimsy excuses disguised as law.”
Judge Susan Dlott, of the Western Division of the Southern District of Ohio, held as follows: “[T]he Court finds that the Portsmouth [Rental Dwelling Code] violates the Fourth Amendment insofar as it authorizes warrantless administrative inspections. It is undisputed that the [Rental Dwelling Code] affords no warrant procedure or other mechanism for precompliance review . . . the owners and/or tenants of rental properties in Portsmouth are thus faced with the choice of consenting to the warrantless inspection or facing criminal charges, a result the Supreme Court has expressly disavowed under the Fourth Amendment.”
For more information and to read a copy of the the Court’s ruling visit www.realestateinvestingtoday.
Hey Mike I hope you & your family are ready for the Holidays
I purchased you Landlord on Auto Pilot course great stuff & have used it on
all my rentals with much success.
Ran across a new renter they are very interested in my new home.
He ask if I would consider corporate lease.
He said his company would pay for his rent monthly or give him the money to
I looked through your course & did not see anything on how to handle
Therefore, use the residential lease.
Bigger Pockets and Brandon Turner hit another home run!!
Making the Bigger Pockets “7 Top Business Books To Help You Put Vital Systems In Place” is like winning an Oscar or an Emmy! Thank You again.
I want to share this award celebration with you – the next 100 Investors who buy my book “Landlording On AutoPilot” will get two THREE FREE Bonuses: (already got my book, then buy as a gift for special person)
BONUS 1: a brand new form, not in my book, named the “Animal Application Form”
BONUS 2: “159 Point Rent Ready Checklist”
BONUS 3: “How I Bought 50 Houses in a Year While Working My Full Time Job” mp3 audio, (keep in mind, I started with less than $1,000 in my savings account and I have never gone to a bank to buy an investment property.)
To Your Continued $uccess,
P.S. you can call Eric at 502-655-1966 to order as well
A federal judge in Brooklyn explained in a court memo released on Wednesday why he rejected a landlord’s attempt to use a child’s Hispanic ethnicity to argue for reduced damages in a lead poisoning case.
Judge Jack B. Weinstein ruled that the attempt violated federal law governing the use of statistical generalizations based on race or ethnicity, and forbid experts on both sides to discuss them.
A lawyer for Mark Kimpson, the landlord, was seeking to reduce the $2 million in damages awarded to the child and his mother after she sued over lead poisoning.
A jury awarded the damages on July 10 after finding that the apartment the family rented from Mr. Kimpson contained lead-based paint that had not been properly removed or contained.
“Posed is the question,” Judge Weinstein wrote, “can statistics based on the ethnicity (in this case, ‘Hispanic’) of a child be relied upon to find a reduced likelihood of his obtaining higher education, resulting in reduced damages in a tort case? The answer is no.”
To contest the damages, Mr. Kimpson’s lawyer, Roger V. Archibold, needed to persuade the court that the boy’s prospects for attending college and earning a degree if he had not had lead poisoning were already low. Mr. Archibold argued that because Hispanics are less likely to attend college, the boy’s chances for doing so were improbable.
In a 52-page memo, Judge Weinstein wrote that he rejected the argument based on a case in which the use of race- and ethnicity-based statistics was found to be in violation of the Constitution’s equal protection and due process clauses.
The memo on Wednesday does not affect the jury verdict, which Mr. Archibold has appealed to the Court of Appeals for the Second Circuit.
Mr. Archibold said Judge Weinstein had “mischaracterized” the defense’s argument about the child’s ethnicity. Mr. Archibold said he was confronting an expert hired by the plaintiffs whose statements at the trial did not seem to line up with the study he was citing.
“The expert was confronted with the evidence of the study that he quoted,” he said. “He opined that the study gave him these statistics and it did not.”
Judge Weinstein added that Mr. Archibold was required to use specific characteristics of the child and his family, rather than the characterization of the child as a member of a particular ethnic group, in projecting damages. The boy’s father has a bachelor’s degree and his mother has a Master of Fine Arts. Both held responsible income-generating jobs, the family was stable, and the parents were caring, Judge Weinstein said.
“Based upon his specific family background, had the child not been injured, there was a high probability of superior educational attainment and corresponding high earnings,” Judge Weinstein wrote. “Treated by experts as a ‘Hispanic,’ his potential, based on the education and income of ‘average “Hispanics” in the United States,’ was relatively low.”
The boy’s mother, Niki Hernandez-Adams, rented a basement apartment from Mr. Kimpson in an old building at 490 MacDonough Street in Bedford-Stuyvesant, where she lived while pregnant and after the boy turned 1.
During a visit to the pediatrician after his first birthday, the boy was found to have elevated levels of lead in his blood. Ms. Hernandez-Adams claimed in her lawsuit that the lead poisoning had damaged the boy’s central nervous system.
Mr. Archibold argued that Mr. Kimpson had sufficiently contained the hazardous lead-based paint in the apartment. Before the family moved in, the landlord had covered the old paint with new paint and drywall, according to the judge’s memo.
Mr. Archibold blamed the family’s dog for severely scratching the walls and the moldings in the apartment, releasing lead dust. He also claimed that the infant’s cognitive and behavioral difficulties resulted from other medical conditions of his mother during her pregnancy.