Landlord Association newsletter library |
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Volume 3 Number 6 |
LIBRARY |
FROM THE PRESIDENT - Patty Hofer  I hope all of you had a wonderful holiday season. The unusually warm weather until the 19th of December definitely improved my spirit.Pamela Hardy from Hardy Properties spoke at our November meeting. Although her primary purpose was record keeping for rentals, she began with screening shortcuts. Pam recommended putting all the unit information on the answering machine. The address, description of rooms and assets of the unit and area are described first. Then the criteria; income requirements, requests for credit and legal history, a completed application, a picture identification and copy of same, qualification and signatures of all adults, a $25 nonrefundable charge for the credit check, and a $100 partial deposit will necessary before the unit can be rented. The recording insures that all perspective residents get the same information. It also saves the owner time because people can self-screen themselves if their income or other circumstances would disqualify them.Photographs (using a tax deductible single use camera) are taken of the empty residence. The new family signs the Move In section of an Inventory and Condition Report and poses for a family portrait before they move their furniture in. The portrait and accompanying lease give the owner the exact information about who actually resides in the unit. Visitors must have some proof of living elsewhere.Pam reviews each document with the residents. She uses a Lease-Rental Agreement, Crime Free Lease Addendum, Disclosure of Information on Lead-Based Paint and a Baden Housing Exchange pamphlet. Copies of the documents can be studied by potential residents before they sign. Pictures of Pam and her husband are also available to prevent residents from paying rent to someone else.Pam still keeps her records on paper, but the goal is the same as that as the most sophisticated computer software. Keep all receipts and record expenses and other information accurately. For instance, Pam keeps the envelopes in which late payments arrive for their postmark dates. The unit address is written on receipts at the time of purchase, all receipts are put in the same place. (My personal experience is finding receipts on the garage or cellar floor, in buckets or on the floor of the van.)Her books follow the IRS Schedule E format of Advertising, Auto and Travel, Cleaning and Maintenance, etc. Other forms she uses include a Transportation and Travel Expenses Worksheet, a Depreciation Worksheet, Computation of Allowable MACRS/ACRS Depreciation Deduction form 1914, Schedule of Real Estate Owned, Maintenance Log Sheet, Proposal Form and Notice to Pay Rent or Quit. Copies of those forms will be available at the January 18th meeting. Call me if you cannot attend the meeting and I will mail you the forms.Our Neighborhood Stabilization Officer, Brigitte Pidduck (772-3484) announced the opening of the Marketplace of Holly Hills at Grand and Iron. Joe Koppeis has already started getting to know the community by attending various neighborhood meetings.Brigitte distributed "Let's Talk Trash" hand outs. Bulk pick up is the 1st Monday on the month. Call Citizen's Service Bureau (622-4800) for more information or specific complaints.Another of Brigitte's projects is working with the youngsters in the area. The kids had their first meeting on Halloween. Since then the kids have gotten tickets to a college football game and a professional basketball game. More activities and training experiences are planned.Legislative Analyst, Jim Magnus passed out new Stop Housing Discrimination packet. One must choose residents on their credit and legal history, ability to pay rent and utilities and willingness to be a responsible resident. Race, color, nationality, familial status, disability, sex or religion cannot be factors in rejecting a perspective applicant. There are many fair housing seminars lately because the law is being violated. Jim specifically remembered one seminar of mostly legal professionals who sounded quite adversarial. Apparently investigations are generated by complaints, not by random targeting. Give everyone the same information, have everything in writing, keep good records and treat everyone in the same civil manner to protect yourself from complaints.Jim also discussed the lead paint quagmire. There was not any good news in Jim's report, but we have to pay attention to the new legislation to influence its interpretation and enforcement. As mostly small business owners we have to work directly with our units residents to keep exposure to possible lead paint at a minimum. Ask that chipped or peeling paint be reported to you immediately for repair, require carpeting on older hardwood (varnished) floors. Supply better quality mini-blinds. Lead paint is a health hazard but most of us survived exposure to it. Hopefully current paint products and policies will eradicate the problem for everyone.One of our members had an unusual tale of woe. She has been reasonably successful in the business for twenty years. In just one year she has had two resident deaths and the eviction from hell. I don't know how one could screen for the probability of death during the term of a lease, but both residents and owners need emergency contacts and telephone numbers for each other.The eviction was made even more difficult because after the whole legal process of filing, notification, court date and ten day waiting period the "ne'er do well" tenant filed for bankruptcy as the sheriff came to the unit to remove the tenant and his belongings. The notification of a bankruptcy proceeding stayed the court order for eviction. Our member had a hard time even finding an attorney experienced in this sort of problem.Should anyone else have a similar problem call your landlord association for a list of qualified attorneys. Examine all the records you have for that tenant, fraud on an application could get suspension of bankruptcy.Another November attendee had the standard sloppy neighbor problem. He also offered a comment about the city requiring inspections for apartments before they can be rented, but the city never looks at the condition of an apartment after a tenant has left. Stated that way the situation does look unfair, doesn't it? Thorough screening does not cure all the ills, but it does cut the risk.Neighbor problems can be negotiated by our NSO, Brigitte Pidduck. Keep in mind that part of due diligence is finding out who the neighbors of our properties are. Possibly an older person does not have the physical ability or financial resources to maintain his home. Brigitteeee may be able to access community resources to help everyone.We've been using Secretary John Korst's web site, with which we are so happy, that the board voted to get our own site for a one year trial period. John will have more details for us.Our raffle is getting quite large because we have not had a winner in so long. To increase the odds of winning the previous meeting's attendees will have their names added to the chances. That is everyone who was at the November meeting will have his name added to the coffee can giving him two chances to win. We will continue adding names as another benefit of adding meetings.The board is also planning to publish two "Residents' Supplements" as part of the newsletter in 1999. The supplements will have information and events that can be copied and distributed to our residents.Jim Magnus produces neighborhood snap-shots, a demographic survey for our area which are really interesting. His latest copies will be on view at the January meeting.All the best wishes for a healthy and prosperous new year. Our next meeting is Monday, January 18, at Southern Commercial Bank about 6:30pm
LIBRARY RESOURCES
MATERNITY HOME TAX CREDIT PROGRAM
THE NEW "NUISANCE PROPERTY" LAW - Donald Schmidt
LANDLORD LOBBY DAY
NEXT MEETING
Place: Southern Commercial Bank - 5515 S. Grand
6:30 - 7:00 Social |