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Bitcoin slowly but surely gains relevance in real estate

American Apartment Owners Association - Thu, 11/30/2017 - 10:59am

Bitcoin is fast-gaining the attention of the real estate industry, with several states already changing their laws to allow it to be used to finance property transactions.

The Wall Street Journal reported this week that the industry is already experimenting with using the digital currency to pay for things like rent, services or even whole deals.

“Most of the focus in the real-estate industry is on how ‘blockchain’ technology could affect the way property titles are recorded and transferred in the sales process,” the Journal reports. “Blockchain acts as a ledger for who owns a particular bitcoin or other cryptocurrencies. Proponents say it can be applied to the process for recording and transferring property titles, providing an efficient and secure way to track who owns a piece of land, an office building or a home.”

Meanwhile, other reports suggest that buyers and sellers are just as hungry to use bitcoin as real estate professionals. In a report in the U.K.’s Express newspaper, Ben Shaoul of New York City-based Magnum Real Estate Group related how several of his clients have asked about using Bitcoin to facilitate their real estate transactions.

“We were just shocked to find out how many people have bitcoin,” Shaoul told the Express. “I bought some myself last summer, and now I wish I bought more – who knew how this would explode?”

Mr. Shaoul added that he was first approached by a buyer earlier this year, who said he wanted to use the cryptocurrency to purchase a property he was listing. “He said he really wanted to buy with bitcoin, so I spoke to my lawyers and the powers that be, and they said yes,” he related.

Shaoul added that he has since had two more offers for condominiums in Bitcoin, and that he’s now planning to launch an advertising campaign to make it known that his business accepts the cryptocurrency.

Elsewhere in Miami, real estate professionals are seizing on Bitcoin’s ability to send money overseas at the fraction of the cost of traditional bank transfers as a way of attracting foreign buyers.

Miami realtor Stephan Burke said in an editorial in the Miami Herald that the city is: “an ideal market for Bitcoin, giving buyers and investors from South America, Canada, Russia, Asia, and the Middle East the opportunity to make their purchases quickly and smoothly.” He added that “our city has a tremendous opportunity to be a trendsetter in this regard.”

So what are your opinions on Bitcoin, and would you be willing to accept a transaction in the cryptocurrency? Let us know your thoughts below.

Source: realtybiznews.com

The post Bitcoin slowly but surely gains relevance in real estate appeared first on AAOA.

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What do renters want? Survey shows top items people look for in their next place

American Apartment Owners Association - Thu, 11/30/2017 - 10:58am

Our concern over package deliveries outranks wanting a place to mingle or grow food when it comes to what piques renters’ interest in picking a place to live.

In a survey by the National Multifamily Housing Council & Kingsley Associates, participants in the Seattle-Tacoma-Bellevue area were asked their interest level in various community amenities.

Probably to Amazon’s delight, package lockers ranked above community Wi-Fi, clubhouses, community gardens, on-site car washes and even valet trash service in the survey.

The bulk of respondents said they received from one to 10 packages a month. More than half did not receive perishable items, ever. The appetite for deliveries “inside my unit” appeared low in the survey, which predates the broad launch of the Amazon Key delivery service.

The results, part of a larger nationwide survey, involved 17,861 respondents in the Seattle-Tacoma-Bellevue area in July. The last time the survey was done was in 2015.

Among apartment features, the top amenities/features sought by area respondents, in order of interest. were:

1. Washer/dryer.

2. High-speed internet access.

3. Dishwasher.

4. Garbage disposal.

5. Soundproof walls.

6. Patio or balcony.

7. Bathtub.

8. Stove hood.

9. Energy Star certified appliances.

10. Microwave.

Microwaves barely edged out refrigerators with water/ice dispenser in the top 10. Rounding out the bottom of the list were video doorbell, standalone shower without tub, built-in sound systems, breakfast bars and two master suites.

Source: thenewstribune.com

The post What do renters want? Survey shows top items people look for in their next place appeared first on AAOA.

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New Mortgages Allow Renters to Buy With Tiny Down Payments

American Apartment Owners Association - Thu, 11/30/2017 - 10:03am

The down payment has been a big obstacle in recent years for renters looking to buy their first homes.

A new mortgage offering aims to ease the burden.

Home Partners of America, a rent-to-own company, is offering a new mortgage product to tenants that apply some of the appreciation in their home’s value during the time they have lived there toward reducing the down payment. In areas with even modest home-price appreciation, that could reduce the down payment requirement to almost nothing.

To qualify, tenants must have paid their rent on time for two consecutive years and be considered first-time buyers, meaning they haven’t owned a home in the last three years.

The program harkens back to the housing bubble when millions of Americans received mortgages for homes they couldn’t afford with little or no down payment.

Bill Young, co-founder and chief executive of Home Partners, said a critical distinction with his company’s program is that prospective buyers have been paying their monthly rent on the same home over a long period, demonstrating they can afford it and are committed to staying there.

“Their skin in the game is they’ve proven they can pay their rent on time for 24 months,” Mr. Young said.

Home Partners, which was started about five years ago and has purchased nearly 8,000 homes in more than 50 metropolitan areas, plans to offer the product to current tenants and those who sign a lease over the next two years, the duration of the pilot program. The company won’t make the loans itself but is working with New Penn Financial, a Pennsylvania-based lender.

The loans will be backed by mortgage company Fannie Mae, which recently has been experimenting with programs designed to ease credit for young buyers who are missing out on a recent surge in home prices because they haven’t saved enough for a down payment. Other pilots include a program under which Lennar Corp. will pay off a significant chunk of the student loan of a borrower who purchases a home from the Miami home builder. In another, buyers can receive up to $50,000 for a down payment if they agree to rent a room in their home on Airbnb.

Rent-to-own companies have a poor reputation in the housing industry for taking nonrefundable deposits from tenants who clearly won’t ever be able to qualify for a mortgage or afford a home. Home Partners doesn’t take a nonrefundable deposit, so if the home’s value declines or they decide not to buy for any other reason renters can simply walk away.

Source: realtor.com

The post New Mortgages Allow Renters to Buy With Tiny Down Payments appeared first on AAOA.

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Big Shifts Coming to the U.S. Housing Market in 2018

American Apartment Owners Association - Thu, 11/30/2017 - 10:00am

Las Vegas to lead the U.S. in sales and price growth in 2018

According to Realtor.com’s 2018 National Housing Forecast, U.S. housing inventory constraints have fueled a sharp rise in prices and made it difficult for buyers to gain a foothold in the market. But that is expected to change next year as part of broader and continued housing market improvements.

The easing of the inventory shortage, which is expected to result in more manageable increases in home prices and a modest acceleration of home sales, is based on an inventory growth trend that began in August 2017, according to Realtor.com. The annual forecast, which is among the industry’s bellwethers in tracking and analyzing major trends in the housing market, also expects an increase in millennial mortgage share and strong sales growth in Southern markets. The wildcard in 2018 will be the impact of the tax reform legislation currently being debated in Congress.

“We are forecasting next year to set the stage for a significant inflection point in the housing shortage,” said Javier Vivas, director of economic research for Realtor.com. “Inventory increases will be felt in higher-priced segments after home buying season, which limits their impact on total sales for the year. As we head into 2019 and beyond, we expect to see these inventory increases take hold and provide relief for first-time home buyers and drive sales growth.”

Top Five U.S. Housing Trends for 2018 Include:

1. Inventory begins to increase – Beginning in August 2017, the U.S. housing market started to see a higher than normal month-over-month increase in the number of homes on the market. Based on this trend, realtor.com projects U.S. year-over-year inventory growth to tick up into positive territory by fall 2018, for the first time since 2015. Inventory declines are expected to decelerate slowly throughout the year, reaching a 4 percent year-over-year decline in March before increasing in the early fall, after the peak home-buying months. Boston, Detroit, Kansas City, Nashville and Philadelphia are predicted to see inventory recover first. The majority of this growth is expected in the mid-to-upper tier price points, which includes U.S. homes priced above $350,000. Starter homes are expected to take longer to recover because their levels have become so depleted by first-time buyers.

2. Slowing price appreciation – Home prices are forecasted to slow to 3.2 percent growth year-over-year nationally, from an estimated increase of 5.5 percent in 2017. Most of the slowing will be felt in the higher-priced segment as more available inventory in this price range and a smaller pool of buyers forces sellers to price competitively. Entry-level homes will continue to see price gains due to the larger number of buyers that can afford them and more limited homes available for sale in this price range.

3. Millennials gain market share in all home price segments – Although millennials will continue to face challenges next year with rising interest rates and home prices, they are on track to gain mortgage market share in all price points, due to the sheer size of the generation. Millennials could reach 43 percent of home buyers taking out a mortgage by the end of 2018, up from an estimated 40 percent in 2017. With the largest cohort of millennial expected to turn 30 in 2020, their homeownership market share is only expected to increase.

4. Southern markets will lead in sales growth – Southern cities are anticipated to beat the national average in home sales growth in 2018 with Tulsa, Okla.; Little Rock, Ark.; Dallas; and Charlotte, N.C.; leading the pack. Sales are expected to grow by 6 percent or more in these markets, compared with 2.5 percent nationally. The majority of this growth can be attributed to healthy building levels combating the housing shortage. With inventory growth just around the corner, these areas are primed for sales gains in years to come.

5. Tax reform is a major wildcard – At the time of this forecast, both the House and Senate had bills up for consideration, because neither had passed at the time they were not included in the forecast. Both proposed tax changes had provisions that are likely to decrease incentives for mobility and reduce ownership tax benefits. On the flip side, some taxpayers, including renters, are likely to see a tax cut. While more disposable income for buyers is positive for housing, the loss of tax benefits for ownership could lead to fewer sales and lower prices with the largest impact on markets with higher prices and incomes.

Next year, home prices are anticipated to increase 3.2 percent year-over-year after finishing 2017 up 5.5 percent year-over-year. Existing home sales are forecast to increase 2.5 percent to 5.60 million homes due in-part to inventory increases, compared to 2017’s 0.4 percent increase or 5.47 million homes. Mortgage rates are expected to reach 5.0 percent by the end of 2018 due to stronger economic growth, inflationary pressure, and monetary policy normalization in the year ahead.

2018 Top U.S. Housing Markets (based largest sales and prices gains)

1.   Las Vegas-Henderson-Paradise, Nev.
2.   Dallas-Fort Worth-Arlington, Texas
3.   Deltona-Daytona Beach-Ormond Beach, Fla.
4.   Stockton-Lodi, Calif.
5.   Lakeland-Winter Haven, Fla.
6.   Salt Lake City, Utah
7.   Charlotte-Concord-Gastonia, N.C.-S.C.
8.   Colorado Springs, Colo.
9.   Nashville-Davidson–Murfreesboro–Franklin, Tenn.
10. Tulsa, Okla.

 

Source: worldpropertyjournal.com

The post Big Shifts Coming to the U.S. Housing Market in 2018 appeared first on AAOA.

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Home values nationwide to see sharp declines from GOP tax plan

Inmannews - Thu, 11/30/2017 - 9:58am
The brunt impact of the so-called “Tax Cuts and Jobs Act” on California home owners is  merely one of the alarming insights to emerge from a new state-by-state analysis b ...
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Real estate daily market update: November 30, 2017

Inmannews - Thu, 11/30/2017 - 7:18am
All the latest real estate market news ...
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Are Tenants Or Landlords Responsible For Maintenance?

American Apartment Owners Association - Thu, 11/30/2017 - 6:44am

Posted on Nov 30, 2017

Who is responsible for rental property maintenance, the landlord or the tenant? While there are landlord maintenance obligations under state law, tenants also have maintenance responsibilities. Discover what landlords and tenants each must do to keep a rental looking its best, below.

Landlord Repairs Responsibilities 

Landlords are responsible for maintaining “habitable” rental properties. This means keeping the major systems of the rental unit — heat, water, electricity, general cleanliness and sound structure — in good working order. The habitable requirement applies to common areas of an apartment complex as well as rental units. State and city codes define the specific requirements landlords must follow when renting apartments. If there’s a question regarding what a landlord’s responsibilities are, look to these codes to provide exact information for landlords.

If something goes wrong, landlords are expected to resolve the problem in a timely repair. As long as landlords attempt a timely fix, tenants should be understanding. Maintenance personnel are not always available on short-term notice, so delays may be unavoidable.

If landlords fail to make repairs that were requested, tenants can legally withhold money from the rent until the problem is fixed. Tenants can also hire someone to repair the issue, then deduct the repair cost from their next rent payment and provide the landlord with a receipt for the repairs.

If a landlord delays a repair that is subject to state or city codes, tenants can seek redress through local authorities. This could lead to an inspection, which may result in fines being levied on the landlord or an order to make the repair immediately.

Landlords must give notice when they need to enter a rental property. Generally, 24 hours’ notice is acceptable. In emergency cases — for instance, if there’s a broken pipe — landlords can enter without giving notice.

Other than keeping major systems in working order and responding quickly to repairs, landlords must either perform exterior maintenance or specify within the lease that tenants are responsible for exterior maintenance.

Tenants’ Responsibilities for Repairs

Under law, tenants are responsible to repair or replace anything they broke. Examples include broken windows or holes in the wall. If tenants spot signs of damage or pests in the unit — anything from water damage to rodents — they must inform the landlord, so the landlord can mitigate the problem. A simple phone call or email to the landlord can suffice for timely notification of these issues.

Throughout the rental term, tenants must keep the unit in a clean, habitable condition. Tenants must dispose of trash and keep the exterior of the unit tidy. When moving out, tenants must return the property to move-in ready condition.

Rental property maintenance laws vary by state; some states provide few legal obligations for landlord maintenance while other states require landlords to do more. The lease will specify who is in charge of landscaping and snow removal. Landlords may take care of these duties, especially for large complexes. Or, landlords may mandate that tenants shovel the snow or mow the lawn.

Stay Up to Date With Landlord Requirements

To stay up to date with landlord requirements and get advice on how to best manage your rental property, consider becoming an American Apartment Owners Association member. Member benefits include discounted landlord-tenant forms, tenant screening services, educational webinars on property management or landlord responsibilities, and discounts on goods and services. Join AAOA today to find success as a landlord. 

Disclaimer: All content provided here-in is subject to AAOA’s Terms of Use.

The post Are Tenants Or Landlords Responsible For Maintenance? appeared first on AAOA.

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7 repair requests buyers should never make

Inmannews - Thu, 11/30/2017 - 2:45am
Most buyers and sellers understand that buying and selling a home requires negotiation. You give a little here, and they concede a bit there. But what do you do when you have a buyer who demands unnecessary repairs after a home inspection ...
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3 ways to build business and recharge over the holidays

Inmannews - Thu, 11/30/2017 - 2:00am
Some real estate agents make the mistake of thinking they can’t work during the holiday. They think that people don’t want to be bothered or that working will interfere with taking some much-needed time off ...
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10 little extras that make hosting an open house worth it

Inmannews - Thu, 11/30/2017 - 2:00am
An open house can be an effective way to get some interest going in a property and generate leads. The best open house events are memorable, interesting and exciting for attendees. Try these 10 tips to take your event to the next level and help secure interest in the home from eager buyers ...
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How flashy upstart Bamboo Realty bamboozled the real estate industry

Inmannews - Wed, 11/29/2017 - 5:23pm
When I read about the scandal at Bamboo Realty, a real estate pop-up that crashed and burned, I thought of the Milli Vanilli lip syncing debacle 27 years ago ...
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How to use predictive analytics to boost your marketing

Inmannews - Wed, 11/29/2017 - 5:00pm
"What does [big data] mean for you in real estate? How is this going to actually help your business?" asked SmartZip's Jonathan McGowan on stage at Inman Connect. "Because its great to have really cool information, but if you can't monetize that -- if it doesn't make your business better or improve your life in some way -- it's not valuable." ...
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Apartment dwellers seek affordable rents

American Apartment Owners Association - Wed, 11/29/2017 - 3:06pm

ATLANTIC CITY — Toni Wilson, the mother of four children ranging in age from 15 to 3, moved from Egg Harbor Township to Atlantic City to save $100 on her monthly rent.

Working part-time as a cocktail waitress at the Golden Nugget Atlantic City casino, Wilson, 39, was paying $1,300 for a three-bedroom, one-bath ranch-style home that was at least 40 years old and needed repairs. She also had to pay the water bill.

Wilson, who was married previously, moved to the Inlet section of the city to an apartment where she pays $1,200 in rent in addition to separate gas, electricity and water bills. She has three bedrooms, 2½ bathrooms, a kitchen, a small backyard and a garage.

“They did not want to move at all,” Wilson said of her children. “She (daughter Amirah Elliott, 15) was on the cheerleading team at Egg Harbor Township. They hadn’t lived in Atlantic City for five years. City life is different.”

Wilson is one of many South Jersey residents who live in an apartment with a family and struggle to pay the market rate for rent.

Without financial assistance from her father and her boyfriend, Wilson said, she did not know how she would be able to survive.

“Sometimes, internet is off. Sometimes, cable is off,” said Wilson, who added she learned from her mother that rent and transportation must be paid. “I juggle the rest of the stuff all month.”

The need for apartments — due to delayed marriages, an aging population and immigration — is creating more demand at a faster rate than new apartments are being built, so those that do exist are more expensive.

For years, rent growth has outpaced wage growth, and a severe lack of affordable housing affects many parts of the country.

The number of households that spend more than half their income on rent has grown about 25 percent since 2007 and are considered “severely cost-burdened,” according to an analysis by the Joint Center for Housing Studies of Harvard University.

The rental market has exploded, said Robert M. Shamberg, owner of Berkshire Hathaway HomeServices Diversified Realty in Galloway Township.

“The rental market is as hot as the for-sale market was back in 2005-06. There are 100 people looking for every single rental,” Shamberg said.

Landlords are demanding as much as $900 per month for a one-bedroom condo, $1,200 per month or more for two bedrooms, and $1,500 per month or more for a single-family home, depending on the size, Shamberg said.

Shamberg said there have always been people who rented apartments as opposed to buying a house because they didn’t want the responsibility, didn’t understand the value of owning a home or weren’t ready for the responsibility. Others wanted the flexibility of being able to move.

But since the recession, an increasing number of people have been tagged with a bad credit history, don’t have the money to buy or have lost their previous home due to foreclosure and can’t buy, Shamberg said.

Rising rents are an extreme problem, and many people are struggling, said Matt Shapiro, president of the New Jersey Tenants Organization, based in Fort Lee, Bergen County.

“Low and moderate incomes can’t afford today’s rents, which are astronomical and unbelievably high,” said Shapiro, whose organization is the oldest and largest such statewide organization in the country.

Rent control is an answer, but it is not the answer, Shapiro said.

Even if a landlord raises the rent 4 percent annually, inflation has been as little as 2 percent, so the landlord will make a profit, Shapiro said.

Good rent-control legislation should allow the landlord or owner to set a profit level that could be maintained.

“Instead, in some city markets, landlords are doing extraordinarily well,” Shapiro said. “Mortgage interest costs have been slashed. They (owners) could afford to do rent control and still make good money.”

Rent control is part of the problem in some communities because rent control laws allow landlords to charge whatever they want once a unit is vacated, said Jeff Cronrod, a board member of the American Apartment Owners Association, based in California.

“We have the end of the middle class, which is fairly topical, and that’s really what this is about, and you have the haves and the have-nots. The separation is bigger than ever,” Cronrod said.

One thing landlords in his association are starting to do is adopt what’s called RentGuard, which allows the landlord to eliminate or reduce the money needed for a security deposit, which at least makes the apartment more affordable to move into initially.

In the meantime, Wilson will be doing the best she can, making payment arrangements and providing a little less food sometimes if necessary. She has not experienced a winter in her new place, so she doesn’t know how high her gas bill will be.

“For single mothers and young families to enjoy their children at times, it’s hard,” Wilson said. “They can’t work to save. They can’t work to take a vacation. They work to pay bills and utilities.”

Source: pressofatlanticcity.com

The post Apartment dwellers seek affordable rents appeared first on AAOA.

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Connect/Reflect: Conversations worth the cold

Inmannews - Wed, 11/29/2017 - 2:22pm
The holiday season is already here, which means Inman Connect New York (January 22-26, 2018, Marriott Marquis Hotel, Times Square) will be upon us before we know it. We recently caught up with long-time Connect attendee Jeff Turner to understand what keeps him coming back to the New York City cold every January ...
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Ex-Bamboo Realty agents sue for $140k in commissions

Inmannews - Wed, 11/29/2017 - 1:28pm
Piggybacking on a lawsuit filed last year by aggrieved workers in Houston, 12 former Bamboo Realty agents in Colorado and Texas renewed their case against the now-shuttered millennial-focused brokerage, charging that its free-spending owners withheld $140,000 in commissions.  ...
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Redfin’s new concierge service will clean and stage your listings

Inmannews - Wed, 11/29/2017 - 12:24pm
Seattle-based tech brokerage Redfin is stepping deeper into the home transaction with the trial launch of its new amenity, Redfin Concierge Service. For a 2-percent listing fee, Redfin Concierge will coordinate, supervise and pay for services such as deep cleaning, painting, staging and landscaping for listings worth at least $500,000. As of now, the trial service is only available in Los Angeles and Washington, ...
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Can Realogy pivot to an agent-centric business model?

Inmannews - Wed, 11/29/2017 - 11:13am
Earlier this month, Brad Inman wrote an opinion piece that compared Gary Keller with Compass's CEO, Robert Reffkin. Although the piece initially focused on the similarities and differences of Keller and Reffkin, it quickly moved to a much larger, and important, subject: the evolution (or revolution?) of the brokerage model, from broker-centric to agent-centric ...
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‘Real Estate Wars’ star, Hoda Harjinia, opens up about her eating disorder

Inmannews - Wed, 11/29/2017 - 10:57am
Hoda Harjinia embodies beauty, brains and business finesse. This savvy, luxury real estate agent has achieved epic success in just over two years as a real estate broker with The McMonigle Team in Orange County, and with the launch of Bravo’s, Real Estate Wars, business is booming ...
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Nine Steps To Guarantee A Successful Eviction Even If You Are Not An Attorney

American Apartment Owners Association - Wed, 11/29/2017 - 10:23am

Written by C. Gabriel Lewis

When I first became a landlord back in 2005 I quickly learned the hard way that not all tenants will work out the way I had envisioned.  Fortunately we have a legal system that protects investors from abusive or irresponsible tenants.  Hopefully you will never have to file an eviction but if you do, make sure to follow these steps to avoid any snags, or worse, lose your case.

1) Check Your Lease.  I’m going to assume you have a written lease.  If you do not you will need to give your tenants a written notice and depending on the violation a “reasonable” amount of time to allow them to correct the issue.  If you have a written lease, then follow exactly what it states.  For example, if the lease says “No Pets” and you find they have one, see how much time your lease allows them to rectify the issue.  If there is no such language in your lease, give them a notice and retain two copies, one for you and one to file in courthouse if you plan to move forward with the eviction.  Sometimes you may just want the pet gone and not the tenants.  If they get rid of the pet, problem solved.

2) Make Sure Violations Are Clearly Stated.  Most lease violations are for non-payment of rent, pets or some other common issue.  Always refer to your lease and see what the guidelines are and follow them to the letter.  For non-payment of rent, make sure to file the eviction after the grace period is up.  If the lease (or state law) requires you to give a notice before you file an eviction, make sure to do this. Otherwise your claim will get tossed out at court if it even makes it that far.  While the law is on your side, I have found that judges will ensure fairness to all parties.  Even if your tenants have trashed your home, doesn’t mean the judge will grant an eviction if you have not followed the precise language of your lease.

3) Get Proof.  The “easy” eviction is for non-payment of rent.  If they didn’t pay, you file for such and will testify under oath at court.  I find the judges are good at getting to the bottom of an issue and will ask the right questions to both parties involved.  Bottom line is you just answer their questions and not say more than what is asked.  If the tenant shows up and denies it, the judge will ask them to show proof, and they likely will have none.  If you are filing for a different violation like pets, take pictures of the pet and print copies so you can take these with you to court and present it to the judge.

4) Give Proper Notice Before Filing An Eviction.  Again refer to your lease and see what it requires of you based on the violation.  In Louisiana, we are required to give a five day notice prior to filing an eviction.  However, if you had your tenants waive the “right” you can go straight to the courthouse and file.  In states like California, such a waiver does not exist.  Again check with your state laws and follow what is on your lease agreement.

5) File Eviction Where Your Rental Is Located.  If you live some distance from your rental there is a good chance the place to file an eviction is in a different courthouse.  Always file with the jurisdiction of where your investment is.  You can always start with your city courthouse and ask them where to file as they usually will know and can direct you to the right place to file if it is not with them.  Some courts charge a flat fee regardless of how many tenants are named on the lease.  Others charge on a per tenant basis.  Make sure to ask what the court costs are and who exactly to make it out to before you go to file the eviction.

6) Verify Tenants Received Their Eviction Notice.  When you file an eviction, the court will send a marshal or some other local official to put a notice on the tenant’s door letting them know they have to show up in court to defend themselves and where to go.  Some judges will want you to testify if the tenants received this notice if they are not present in court.  A simple driveby the morning of the court hearing can answer this question.  If the notice is gone, then one can assume the tenants received it and simply decided not to show up for the hearing.

7) Don’t Take The Money.  If you filed an eviction for non-payment of rent, it is extremely important you do not take any rent prior to the court date unless you want to allow the tenants to remain in the home.  I do not suggest you do since the odds of you going back to the courthouse and filing again are likely.  If you do want to allow them to stay, at least make sure you receive all back rent plus late charges and court costs in full.  Taking just one dollar before the scheduled court hearing will result in the cancellation of your eviction proceedings and you will have to file again paying another round of court courts and waiting on a new court date.  Don’t waste your time and turn down their money and start over with a new tenant.

8) Show Up To Court.  Sounds like a no-brainer right?  In my fifty plus eviction court appearances, there were a few times the landlord didn’t show up!  The judge will automatically throw out the case and you will have to re-do the court filings costing you more money out of pocket and more “loss of lease”.  Make sure when you show up in court to have copies of your lease and any proof you might need to show the judge the tenant’s violations.

9) Answer Truthfully.  Judges are smart and they know who is lying better than most.  The law is on your side and if you follow the language of your lease and my guidelines you will win.  Do not screw up your chances of winning by “fudging” the truth – it is not necessary.  Judges cannot stand being lied to and will deny your eviction if they find just one technicality in your claim.

NOTE: The common sense approach will be the same from state to state but the filing of an eviction will not. Check with your courthouse and ask them what you will need when filing.  Examples given in this article were from my filings in the state of Louisiana.

Gabriel Lewis is a real estate agent specializing in residential and association management. He is the owner and broker of Titan Realestate Services, LLC located southwest Louisiana and has been assisting homeowners for the last ten years.  He can be contacted via email at cgabriellewis@cox.net.

 

The post Nine Steps To Guarantee A Successful Eviction Even If You Are Not An Attorney appeared first on AAOA.

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Connect/Reflect: Get off the fence and go!

Inmannews - Wed, 11/29/2017 - 9:58am
With only about six weeks left to go before Inman Connect New York (January 22-26, 2018), we asked Zillow Group’s Jay Thompson to share a few tips for navigating the program, networking effectively and ensuring that you’re taking those online relationships offline during the conference ...
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