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Privacy PolicyRisk Management — Part 3 In previous issues we discussed the approaches of avoiding risks and of controlling (minimizing) risks that can’t be completely avoided. In this issue we will briefly discuss another method of managing exposure to loss – that of transferring risks to other parties. The most common method of transferring risk is to […]
Risk Management – Part 2 In this article we continue to discuss “risk management,” a subject that should be of interest to all landlords, considering the multitude of possible risks to which landlords are exposed. As discussed in Part 1 of this series, some events resulting from inadequate risk management affect day-to-day operations only, others […]
* * * * * * Q1 An applicant has offered a cosigner. Is there a way for a cosigner to take on responsibility for only the one tenant for whom she is signing, if tenants are jointly and severally liable for full rent amount each month? A1 There can be a difference between a […]
Would You Live In Your Rental? We ask the question in the title of this article because we want to make a point. Most tenants spend just as much effort into finding a new home as you put into marketing your vacancies, perhaps even more. Some may even put as much or more effort into […]
* * * * * * Q1 Can someone explain to me the Mom and Pop Exemption, specifically why it was ever written to excuse landlords with three or less houses to fall under Fair Housing Law? I am curious as to why this exemption exists, and seemingly to protect landlords who do not have […]
Risk Management – Part 1 Life is full of risks to health, safety, security, finances, and happiness. Investing in real estate adds a number of additional risks to one’s life. First, there is the risk of buying the wrong property, one that is in a bad location, in worse condition than you thought, and for […]
Expenditures – Part 3 – Local Travel In a recent newsletter (Expenditures – Part 2) we discussed some basic principles regarding expenditures including “travel expenses related to the property or management thereof.” In this newsletter we will discuss further a few aspects of this particular expenditure. As stated in Expenditures – Part 1, to be […]
Some Questions & Answers * * * * * * Q1 Do you have information about the location where the mandatory “carbon monoxide devices” are supposed to be installed in the CA single-family home rentals per the new SB183 that is effective July 1, 2011? Some people recommend installing them on the ceilings while others […]
Holding Deposits Sometimes, when the rental market is tight, applicants may offer a holding deposit to take the rental unit off the market until the applicant’s screening and verification is complete. Other times, a holding deposit may seem appropriate when an applicant appears committed to the rental, but must make arrangements for the move-in funds. The […]
Some Questions & Answers * * * * * * Q1 Is there any legal reason why a landlord would not be able to take a copy of a prospective tenant’s SS card and driver license? A1 The shortest answer is No! A longer short answer follows. A landlord can request and make copies of […]
