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Dec 22 2009
Yep, we're still around and this has been the BUSIEST December I can recall, for sales and for property management. Usually people aren't interested in moving at this time of the year, but the economy may play a part in this. Traditionally rents are highest in the late spring and summer when most people move, making December and January the slow months where rents come down or move-in specials are advertised.
Nov 06 2009
Per a news bulletin, it appears Congress passed the first-time home buyer's credit extension and it's going to the President for signature.
The changes include:
- $8000 credit extended through April 30
- COE of applicable home extended through end of June
- Income limit increased to $225,000
- New clause offering $6500 credit to FTB who lived in their home (worth $800K or less) for five out of prior eight years
Nov 05 2009
This is a 4/2 with hardwood floors throughout plus a large bonus room not included in square footage. The owner had remodeled the home for use as a residential care home, so the front and rear entry have wheelchair ramps. Also, bedroom closets have all been removed. Well priced for a good neighborhood; perfect for a buyer who is handy and interested in doing some minor remodeling.
For more info, click here to go to our RE site to view the listing.
Oct 29 2009
In short, January 1 is expected to bring with it some environmental requirements that will affect owners installing water heaters, air conditioning, and new roofs. The refrigerant requirements change for cooling systems, so the cost to install new or recharge old will increase significantly. The low knox requirement of gas heaters has raised materials cost there also.
Rumored building code changes for new roof installations may or may not go in to effect. I've not received a confirmation this is going into effect January 1, but it's anticiapted. Per local company, Affordable Roofing:
Iif the roof system is changed next year, they will have to get reflective, Title 24-compliant shingle roofing and/or attic installation upgraded to meet new building codes. The Title-24 compliant shingle will add about $1,000.00 to the overall cost of the roof while upgrading the insulation could be as much as $2,500 or so. This assumes that Title 24 compliance won't be pushed back another year due to economic hardship in the state's economy, of course.
Oct 28 2009
This law is currently in existence, though the timeframe is being extended. The 60-Day notice to terminate tenants, under most situations, requires a 60-day notice to terminate a month-to-month tenant if they've resided at the home/apartment for more than one year. This law was to expire January 1, 2010, and has been extended indefinitely.
A 30-day notice to terminate is still sufficient if the tenant has lived in the property for less than one year. There are also some exemptions to the 60-day period in the case where the landlord has sold the property.
If you own rental property and manage it yourself, a membership or general review of CAA (California Apartment Association) website will keep you up-to-date with new laws and current litigation that may affect your tenants. On more general matters, our property management website is a source for general maintenance and lease questions that are commonly asked by our tenants.
