What To Do About Mold

If you own rental property or if you live in a rental, you should know a few things about mold.  Mold is one of the newest environmental hazards. Across the country, tenants have won multimillion-dollar cases against landlords for significant health problems — such as rashes, chronic fatigue, nausea, cognitive losses, hemorrhaging, and asthma — allegedly caused by exposure to “toxic molds” in their building.  If you suspect there is mold in your rental unit, learn when to report the problem to your landlord and how to clean it up. Even better, take steps to prevent or clean up mold before it becomes a problem.

Mold can grow irrespective of the natural climate as long as moisture is present.  Mold comes in various colors and shapes. Some are powdery, others shiny. Some molds look and smell disgusting; others are barely seen — hidden between walls, under floors and ceilings, or in less accessible spots, such as basements and attics.

Mold often grows on water-soaked materials, such as wall paneling, paint, fabric, ceiling tiles, newspapers, or cardboard boxes. Humidity sets up prime growing conditions for mold. Buildings in naturally humid climates of Texas, California, and the Southern U.S. have experienced more mold problems than residences in drier climates.

Property Management Digital Magazine

Landlord Magazine-April 2012 Issue

Legal Corner:

If you purchased a property and tenants are on a month-to-month and you wish to take possession:You can serve a 30day notice at any time, however if tenants have lived there for more than one year a 60day notice is required.

 

2nd qtr update 2012

Towards the end of March 2012 the rental market had slowed in the Sacramento Region. This is more seasonal than anything and is expected to heat up at the end of April. Vacancies are lower too making this a slow and tight market. If you have a vacancy you should be patient during April expecting demand to pick up within a month. If your vacancy still does not rent, check your rent rate and house condition. We can help with that, give us a call. There are lots of investors buying low end property right now. This is good for the Sacramento economy as all those properties will be fixed up and rented .

More Previous Homeowners are Looking to Rent in 2012

California Apartment Association

As home values fell yet again at the end of 2011, more and more people are looking to renting as an affordable, flexible lifestyle option, causing apartment vacancies to fall to their lowest point in 10 years. Reis reported that the apartment vacancy rate dropped to 5.2 percent in Q4 of 2011, down from their reports of 5.6 percent in Q3 of 2011. This higher demand for apartment housing means increased renting costs across the nation. In response to this news, Apartments.com conducted a national survey to more than 3,000 of its January website visitors to find out about their 2012 moving plans, including reasons they are moving, why they are opting to rent versus own property, when they plan to move and which tools they value most during their apartment search.

Supporting a growing trend, 33.6 percent of respondents looking for an apartment this year said they are previous homeowners (up from 20.5 percent in 2011). From the survey respondents who said they are homeowners looking to rent in 2012, 26.3 percent are doing so because they believe renting is a more affordable option and 21.2 percent prefer the flexibility renting offers in choosing where to live. Apartments.com provides the five most popular responses why their website visitors are choosing to rent versus own in 2012:

1. Renting is a more affordable option: (26.3%)
2. Flexibility to live where I choose: (21.2%)
3. To relocate for employment: (20.5%)
4. Cannot afford to keep up with homeownership expenses: (10.5%)
5. Lost home due to foreclosure and change in marital status: (less than 4% each)

LandLord Property Management

Landlord Magazine issue:March 2012

Free regional Rent Survey on page 33

City of Sacramento – Rental Housing Inspection Property

The City of Sacramento Rental Housing Inspection Program for all rental homes located in the city limits at a fee is $140 billed equally in payments of $28 over 5 years.

Approximately 3 weeks prior to an inspection the property owner will receive written notice and an inspection checklist to prepare.  If violations exist the owner is given 30 days to correct the issues.  If repairs exceed 30 days annual re-inspection will be scheduled at an additional $150 fee.

If no violations exist owners may be approved for self certification.

Either the property owner or their designated representative with full authority to act on the owners behalf must be present.  Either the owner or the agent must be located within 35miles from the property.

For more information and details contact  a Professional Property Management Company or City of Sacramento Code Enforcement Office 916-808-7368

With HomPointe as your management company, you can request HomePointe to be your designated representative and attend your rental inspection. Contact Maintenance@homepointe.com for more details.

What is the best lease length to offer your residents?

The best length of lease varies based on the type of property you have, the location, time of year, demand for the property, and the landlords goals.

The better the property, the more likely you will want to stick to longer leases.  Houses, duplexes, and condominiums usually do well with a one year lease, which is the longest length of lease I would recommend for any residential rental.

Multi unit properties will often do well to stick to month to month tenancies, or at most a six month lease.  The reason is that if the resident you move in creates a problem in your building, it will serve you better to be able to get them out more easily and quickly due to the shorter duration of the agreement.  After the resident in a multi unit building has proved their worth, say in six months, then I would suggest offering them a one year lease.

3 DAY NOTICE

A 3-day Notice to Pay or Quit period begins counting the 3 days on the 1st full day after the notice was served. If the third day falls on a Saturday, Sunday or holiday, the 3-day period will expire till the following Monday or non-holiday.

email info@homepointe.com for any property management questions you have.

Sacramento Rental News & How to Style Your Entry Way

 

Style My Rental is a web series that gives advice to renters and homeowners. This episode gives the vacancy Rate in Sacramento vs. National and how to add rustic style for your entry way