PropertyManagementMaven

LARGE Home for Lease5 Min to UVa Med Center$3,295*Available July 1

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Sun, 20 May 2012 04:32:33 -0700

Rental Home - Charlottesville, VA Single family rental,

> Click here for full details, additional photos, and an inquiry form < Single family

1225 Hatcher Court Charlottesville VA 22903 5 beds/5.5 baths
$3295 / month

Gibson Management Group, Ltd.
Wallace S. Gibson CPM
PO Box 106
Keswick, VA 22947-0106

Phone: 434 979 9723

Email: cvillecpm@aol.com

Website: http://VaHomes4Rent.com

Location information

1225 Hatcher Court
Charlottesville VA 22903 Planned Community: Mosby Mountain Elementary School Zone: Cale Jr. High School Zone: Walton High School Zone: Monticello Nearby College/University: PVCC & UVa Driving Directions: 5th/Ridge St South over I-64, F at 1st Mosby Mtn entry, R on Hatcher Court

Detailed listing information

Remarks: LARGE Home minutes from Downtown * UVa Med Center & Pantops via I-64. Home borders on private, wooded area. Main Level has living room, dining room, large kitchen with family room opening to back deck. Lower level has been built out to include family room w/fireplace. Upstairs has 4 additional bedrooms with master suite with recluse area...2-Car Garage
Bedrooms: 5 Bathrooms: 5.5 Monthly Rent: $3295.00 Date Available: July 1, 2012 Lease Info: 12 months Application Fee (Standard): $25.00 Sec Deposit (Refundable): $3295.00 Pets: Possible, with approval Fireplace: Gas fireplace Heat: Gas heat
Heat pump Approx Square Feet: 5000 Dwelling Type: Single family Property Description: Borders preserve / public land Floor Coverings: Carpet
Ceramic tile
Hardwood Window Coverings: Mini-blinds
All listing information is provided by the managing or leasing agent, is deemed reliable but is not guaranteed, and should be independently verified. Information is © Copyright 1997-2012 HERO PM and individual providers of data, who are bound to a membership agreement. HERO PM and all their websites are interactive computer services. Unauthorized reproduction strictly prohibited.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

HOA GOOD Idea to allow Rentals*BAD Execution to be Involved in Process

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Sat, 19 May 2012 17:32:21 -0700

I've been working with a local townhouse owner for several months on changing his HOA's by-laws which prohibit the 40 unit owners from renting their townhouses.

The project is adjacent to 2 similar townhouse units by the same builder with no such restrictions and several owners have rented their units in violation of the by-laws.

The unit owner circulated a petition to change the documents and when I met him for a rental management presentation several months ago, he indicated that the change to the by-laws would require that owners utilize a professional property manager to rent their units.

OK! Smart thinking I told myself.

We had an appointment last Thursday to finalize the management paperwork when the HOA board president called me indicating that the HOA by-law change has hit a snag. The HOA wants to "control" (his word) who goes into the units and they want to be involved in the tenant selection process.

This was not in the petition paperwork that I reviewed and their involving themselves in the tenant selection is a BIG RED FLAG for FAIR HOUSING!.

I offered to go to a HOA board meeting on Wednesday night and answer questions why the HOA should not be involved and the board president never confirmed the time and place with me for the board meeting.

After much thought, I e-mailed the townhouse owner and suggested that the HOA rules with regard to owners renting their units needs to be reviewed by an attorney and finalized before I wanted to be involved and that IMHO * the unit owners should have been told the CRITERIA under which they could rent their units BEFORE they signed the petition.

I applaud the HOA for acknowledging the need to allow owners to have their FULL rights as property owners; however, giving with one hand and taking away with the other may make the HOA even more vulnerable to claims of discrimination and violating tenant and applicant confidentiality if not handled properly.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Cities are REthinking Rental Property Inspection Programs * YEAH!

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Sat, 19 May 2012 05:02:25 -0700

This article from the news of Hesperia, CA is encouraging on several levels.

Property inspections for rental properties ALWAYS increases the landlord/property owner costs and are passed on to the residents.

While the original intent of these ordinances was to make sure that rental areas were kept up and that property values (tax revenue) did not decline because of the landlord's and/or tenants' neglect of their property, it has NOW been discovered that the LARGEST segement of these blighted properties are VACANT properties.

After 5 years, city employees tracked the properties involved with blight citations and found that the ones that were not being maintained were the VACANT (REO) properties where the "renting/inspection" process was not an option.

In other words, the money being spent on hiring MORE inspectors on the back of the landlord/tenant population was NOT solving the problem.

I hope this ordinance is repealed and that they continue to be suspect as the problem is not with investment property!

http://www.vvdailypress.com/news/hesperia-34552-rental-repeal.html

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

I'll Take * Rush Limbaugh and Dale Earnhardt Jr for $80m, Alex....

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Fri, 18 May 2012 16:07:09 -0700

There has been a year long battle to DEfund military sponsorship of NASCAR race teams to the tune of $80m.

The Army sponsors the Stewart Hass #39 Chevrolet (Government Motors) of Ryan Newman and the National Guard sponsors the #88 Chevrolet of UBER NASCAR owner Rick Hendrick and driven by the most POPULAR driver for the last decade * Dale Earnhardt, Jr.

So what do Dale Earnhardt, Jr. and Rush Limbaugh have in common * just like Rush replaced his sponsors who left his radio show at the speed of a BIC pen click after his "slut" comment; JR will replace the National Guard as a sponsor BECAUSE the sponsorship comes with his appearance in commercials.

NASCAR will continue to honor the military and I don't see that NASCAR attendance will suffer if there are no military recruiters at the track.

I see SPONSORSHIP OPPORTUNITIES on two EXCELLENT NASCAR race cars with SUPER drivers and EXCELLENT team support.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

I'll take *Where was Facebook Invented Alex for $38 per share in today's IPO

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Fri, 18 May 2012 10:48:55 -0700

I L♥VE California....so much so that I did not turn the lights off when I left in 1993; however, somebody has turned the "moon beams" off for Gov Brown.

In an appearance on CBS this morning, he indicated that FACEBOOK was INVENTED in California - Not TEXAS and Not ARIZONA and Not NYC.

When it was noted in the interview that Facebook was actually "invented" at Harvard in MA as is seen in the movie, The Social Network, Brown noted that the "inventors" quickly moved to California.

Gov Moonbeam seems to be ignoring that NOW one of the founding "inventors" has renounced his US citizenship and moved to Singapore because it has a BETTER BUSINESS ENVIRONMENT.

http://www.washingtonpost.com/business/california-grown-gov-jerry-brown-mistakenly-touts-golden-state-as-facebooks-birthplace/2012/05/18/gIQAugnoYU_story.html

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Are your tenants running background checks on you? Remember! LANDLORD RULES!

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Wed, 16 May 2012 12:16:38 -0700

Real estate scams have been around for decades. I bought a property management firm because a would-be tenant re-keyed the property and attempted to rent the home on their own.

I've known DIY landlords whose rental prospects want THEIR social security # to run THEIR credit.

Let's remember, the LANDLORD/PROPERTY OWNER is in charge....ALWAYS!

Via Mike Cooper (Winchester Real Estate Sales, Cornerstone Business Group Inc):

I'm currently working an REO where there are left-over tenants from the previous owner. He never bothered to tell his tenants that he had been foreclosed. As a matter of fact, his former tenants have paid him rent for the past three months. I'm sure he's laughing all the way to the bank.

That scenario, and the same generated by the increase in short sales, has caused a new rental phenomena. Potential tenants are running background checks on landlords. Is that out of line? Maybe, but in the environment we currently find ourselves in it may not be as bizarre as it sounds at first glance.

Think about the horror stories you've heard about a scam artist re-keying the doors on an abandoned house. Sometimes, he re-keys a listed home. Regardless of which, he lists it on CraigsList.com. Soon after, a potential tenant comes long and fills out an rental application. The potential tenant is immediately approved.

He brings cash or a certified check for first and last month's rent, a security deposit and he's handed the keys. He may have coughed over $5000 in that last meeting. He moves in and expects to enjoy his new home for the next year.

A month later, a real estate agent shows up to have the house re-keyed because it has been foreclosed. He finds a tenant in the house. The tenant shows his lease, but his lease was written by a fictitious homeowner who is long gone and spending the his money.

According to an article on Chron.com, "New Trend - Renters Running Background Checks on Landlords," this is a trend that might have legs. Renters need to protect their interests as well as landlords. It's crazy market we're in, and it keeps getting crazier. Pay attention, and don't get scammed.

1. Buying your first home in Winchester VA

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4. Winchester, VA - The best bedroom community for the Washington, D.C. area

5. Passion is contagious - Infect somebody!

6. Winchester, Virginia is a great place to buy a house at great discount!

7. This simple electrical test could save your life.

8. Turn setbacks into springboards

9. Reduce your mortgage by pre-paying principle and eliminating interest

10. What can I do to sell my home more quickly?

********************************************************************************

Give me a call for all your real estate needs, and let's make something amazing happen.

Mike Cooper @ Cornerstone Business Group, Inc., 888-722-6029

Real Estate Sales and Property Management

(Disclaimer: All grammatical mistakes, punctuation breakdowns and misspellings are purely for your amusement and entertainment. Feel free to cackle.)

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

You Have The Right To Remain Quiet! DIY Landlords need to KNOW this!

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Tue, 15 May 2012 07:04:39 -0700

This is a great post and new or DIY landlords often forget that it may be their property and they have provided it to their residents with a "bundle of rights"!

Via Gabrielle Kamahele Rhind, Broker/Owner (KGC Properties LLC, Tucson Property Management & Real Estate):

No matter good tenant, not so good tenant, if you are new to being a landlord or been around for a while – it’s important to know that tenants do have some basic rights that need to be provided.

Here are the basic tenant rights:

Quiet enjoyment covenant is the right to the undisturbed use and enjoyment of real property by a tenant (or landowner.) This covers privacy and safe living – but it also includes peace and quiet. Although you can’t pick your neighbors – if you have neighbors that are loud (in apartment complexes only) you can talk to your landlord and find a remedy.

Safe living space. And this means if something is not functioning like a toilet, stove, heating/cooling – the landlord needs to take corrective measures. This does not mean your landlord has to provide security systems or elaborate locking gates - it means windows and doors shall have locks and you are provided the keys.

Privacy. Even though the landlord owns the home – they can’t just come and go at will. You do have a certain degree of privacy. If repairs need to be made – notice has to be given and if you aren’t there – the home must be secured and locked when the landlord leaves.

Reviewing the lease BEFORE you sign it. Never sign anything without reading it even if someone says “it’s a standard lease”. I always send tenants the lease ahead of time – and give them ample opportunity to read it, ask questions and if they are still concerned –they have time to have an attorney review it.

Along with rights come responsibilities. You have rights because you are fulfilling your renters responsibilities: paying rent on time, preventing damage to the home and if something needs repair - you let the landlord know sooner than later. So make sure to hold up your end of the bargain if you want to retain your right to quiet!

Buying or selling Tucson real estate, Mt Lemmon, Tucson bank-owned homes, Tucson rental homes, or Tucson lease option homes? Visit www.KGCPropertiesLLC.com!

This blog is written with my opinions and my opinions are presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2011. If you want to reprint parts of this - just email me for my permission: TucsonsRealEstate@gmail.com.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

THE BAD NEWS HOMEOWNERSHIP HIT A 15 YEAR LOW IN THE FIRST QUARTER

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Mon, 14 May 2012 03:43:37 -0700

Many do not realize that tenants TODAY are actually PROPERTY OWNERS in another location who can not sell and who want to RENT and be LANDLORDS and have even MORE tax/appreciation benefits!

Via Webster, Ma Conrad Allen, Realtor (Re/Max Professional Asociates):

That's great news for landlords. One million new tenants came into the rental market last year. It is a great time to be a landlord. Usually in recessions the vacancy rate goes up. In this recession it has not. Rental demand is very strong.

Home ownership peaked in 2004 at 69.2% and is now at 65.4%. What the doom and gloomers don't take into consideration is population. We need about 1.7 million new housing units built every year to keep up with population growth. We are building less than 400,000. Demand will continue as supply is not sufficient for the needs of the population.

So what is going to happen? If we look back in history we can find the answers. Rents will continue to rise. It now becomes profitable for developers to build rental property. New units are built. Banks have money coming our their doors. Credit requirements will loosen up making hundreds of thousands of renters eligible to buy a home. New homes are now being built. Prices on existing homes rise. It becomes a seller's market. Demand exceeds supply.

So is this some kind of delusion on my part? No. I watched in the 70's when disintermediation destroyed the real estate market. In the 80's when inflation ravaged the real estate market. The 90's brought us the banking crisis. The 2000's came roaring back. Real is not like cars. We can build as many cars as people want. This is all the real estate we are ever going to have. It is a finite resource.

You have to watch the cycles.

Follow Realtor Conrad:

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Want to buy an Electric Car? Ask your Landlord FIRST!

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Sat, 12 May 2012 18:53:38 -0700

When I first saw how the Chevy Volt operated, my FIRST thought was where does a "tenant" plug it in?

Unless the tenant has a garage with an electrical outlet on their electric meter, why would a landlord/property owner want the electrical drain/cost just for the use of a few tenants?

A San Francisco landlord has said NO to his tenant plugging in his new Volt to an electrical outlet in the common area of the property.

http://abclocal.go.com/kgo/story?section=news/7_on_your_side&id=8655658

The use of the "common" of landlords electricity is only one issue, a 3 foot electrical cord in a common garage/parking area is an trip/fall issue that the landlord's insurance will certainly address with their first claim.

Since the government is subsidizing the purchase of the vehicles, maybe they should give a tax credits to landlords of tenants who purchase them AND indemnify the property owner for accidents caused by the electrical charging cords.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Sycamore Square Home in Fluvanna for Lease $1,795 * Available July 1 * 20 Min to UVA

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Fri, 11 May 2012 03:45:19 -0700

Rental Home - Palmyra, VA Single family rental,

> Click here for full details, additional photos, and an inquiry form < Single family

566 Justin Drive Palmyra VA 22967 4 beds/2.5 baths
$1795 / month

Gibson Management Group, Ltd.
Wallace S. Gibson CPM
PO Box 106
Keswick, VA 22947-0106

Phone: 434 979 9723

Email: cvillecpm@aol.com

Website: http://VaHomes4Rent.com

Location information 566 Justin Drive
Palmyra VA 22967 Planned Community: Sycamore Square Elementary School Zone: Central Jr. High School Zone: Fluvanna High School Zone: Fluvann Nearby College/University: PVCC & UVa Driving Directions: I-64 East from C"ville, exit #129 R onto Rt. 616, 6 miles R on S.Boston Rd, 3.4 miles, L onto Abby Rd, L on Justin Dr Detailed listing information Remarks: Just 2 years old, this is a LARGE home with basement for storage and 2-car garage. The home has space for a home office, a family room off the kitchen and a dining room. There is a large master suite and 3 additional bedrooms. Pet considered. Long term lease preferred
Bedrooms: 4 Bathrooms: 2.5 Monthly Rent: $1795.00 Date Available: July 1, 2012 Lease Info: 12 months Deposit Payment Details: Leasing broker Application Fee (Standard): $25.00 Sec Deposit (Refundable): $1795.00 Pets: Possible, with approval Fireplace: One fireplace Heat: Propane source Cooling: Central air Community Features: Playground
Common area Approx Square Feet: 3436 Dwelling Type: Single family Property Description: Borders common area Floor Coverings: Carpet
Hardwood Window Coverings: Mini-blinds
All listing information is provided by the managing or leasing agent, is deemed reliable but is not guaranteed, and should be independently verified. Information is © Copyright 1997-2012 HERO PM and individual providers of data, who are bound to a membership agreement. HERO PM and all their websites are interactive computer services. Unauthorized reproduction strictly prohibited.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Legendary Auto Icon Carrol Shelby has died at the age of 89

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Fri, 11 May 2012 14:56:03 -0700

Detroit and the US auto industry has lost a true Icon. Carrol Shelby died yesterday at the age of 89.

In addition to being a one-time chicken farmer, Shelby had numerous successful careers in and out of motor sports.

Few know that Shelby was one of the nation's longest-living heart transplant patients. He received a heart in 1990 and a kidney in 1996 from his son.

Shelby also made MUSIC history when The Rip Cords wrote and performed their hit song * Hey Little Cobra

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Rebrand or Improve Your Property Management Business?

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Thu, 10 May 2012 17:01:28 -0700

This scenario that is very common.....brokerage firms that want to do property management need to HIRE a property manager and give them the resources to build the business and stabilize their cash flow....

Via Michael Monteiro (Buildium.com):

By Jo-Anne Oliveri, ireviloution intelligence, Brisbane, Australia

Does this make sense to you?

Last week I was in discussions with a respected sales agency. This agency had a huge sales business with 12 or so sales consultants during the peak of the region’s boom. They now only have the directors, three of them, working as sales consultants.

Due to the huge decline in the property sales market they decided to focus their attention on their property management business. They recognized that this side of the business provided constant cash flow and kept their doors open during the shrinking sales market. It also helped to stabilize their dwindling cash reserves.

In recognizing the need to manage their property management operations they assigned one of the directors to focus his attention 100% on property management. All good and logical thinking.

They planned their strategies for business stabilization and growth during the declining sales market. The business owners decided that buying a rent roll would be part of their strategy in growth and increasing market share. So far, so good. Good planning with purpose, logic, and strategy.

They were satisfied with the purchase of the rent roll. However, moving forward, here is where they start dropping the ball. The director is sick of property management – he wants to go back to selling. He cannot work out that listing managements is in fact the same as listing properties for sale, it requires the same skills. Does he not recognize the fact that managing a property generates immediate cash flow and long term wealth creation? Does he not realize that by having a solid property management business with a respected reputation he will generate sales? Apparently not.

The director was complaining about the fact that a property owner he knew listed their property for sale with another agency. What is absurd about this is that the property is managed through his agency and he has built a relationship with this property owner over a period of six years. In disbelief he called the property owner and asked him why he listed with another agency. The property owner told the director that he had no problem at all with him but he had major problems with his property management business.

Wow, there you have it, straight from the property owner's mouth. Wouldn't you as a business owner jump on this and get your property management business sorted. Well here's where I was completely floored. I asked him how much the commission would have been if he sold the property. The commission would be in the vicinity of $15,000. Ouch, that's a lot of money left on the table (especially in tight markets)! A declaration that would make you take action. Apparently not in this instance. He doesn't want to believe that other clients may feel the same way and believes that this is a one off instance. At first he was seething that he had lost an “in the bag” sale due to the incompetency of his property management team. By the end of the meeting and once he started realizing that his property management services are a result of his and the other directors lack of direction and support, he started blaming the property owner for being disloyal and now believed that this loss of listing was a “one only”. Needless to say, I was quite shocked at how he had turned the whole situation around and now there was no blame at all on the agency.

Now here is the toe curler. The director then said to me that he had been noticing that a lot of agencies are rebranding their property management business so that it appears to be a different from their sales business. He was considering doing this. He believes this will protect the reputation of the agency's sales business. You can see why I was shocked at the absurdity of his thinking. Does he really believe that consumers are that naive? Apparently he does.

He asked for my opinion on this. Needless to say, I don't have to say here on this blog what my opinion is on rebranding your property management business just so consumers can be tricked into believing it is a completely separate entity to the sales business. Even though I do have an opinion on rebranding your property management company, it is certainly not for the reason of hood winking consumers. That is, in my opinion, displaying total disrespect to your consumers and makes no business sense at all. I would much prefer to take the positives from this and understand that as a business owner I’ve now been given feedback that I can take positive action on and turn my business around by creating ways to win back customer loyalty.

Rebrand or improve your business – what would you do?

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Mad as a Hatter! Do you know the origin of this term? Ask Bill O'Reilly

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Thu, 10 May 2012 10:19:44 -0700

I just finished listening to "Killing Lincoln" in my car.

I L♥VE history and thought it would be a great "read" while in my car. I've been to the home where Lee met Grant and surrendered; however, I never knew the way they got there from Richmond/Petersburg OR that Lincoln was so close in VA and not in DC.

The fact that Lincoln's older son was amoured of the same woman as John Wilkes Booth and that JWB's older brother saved Lincoln's same son from getting hit by a train are just some of the many tidbits in the story.

Lincoln knew he was going to die; there was only security for the White House and NOT the president; I know where the saying "his name is Mudd" as was mentioned in the National Treasure DEUX movie; and Mary Surratt was a scapegoat for her cowardly son, John.

More importantly, the term "mad as a hatter" does not come from Alice in Wonderland * it comes from the fact that workers in the "hat" industry worked with mercury in the manufacture of the hats which caused them to go mad....and there are 2 people burried in Grant's tomb!

Great summer read * fun to listen to in the car with kids and it will make the history of the Civil War * War of Northern Aggression * more interesting for kids!

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Taking Over a DIY Landlord Property with Tenants is a CHALLENGE

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Tue, 08 May 2012 17:10:53 -0700

One of my FAV farm areas for my direct-mail marketing efforts is a townhouse project built by Ryan Homes near UVa Medical Center. There is a mix of townhouses with garages and single family homes and the unit size is awesome because they are desirable to multi-generational and/or groups tenants.

I have the single family residence model and the townhouse model which were bought by investor owners and leased back to Ryan for their selling efforts and that I took over when they were rented to their first real renters.

I received an e-mail request from a DIY landlord in the property who moved out a year ago and rented his townhouse. He needs it professionally managed and he was especially concerned as his 4 residents were wanting to leave 1 month early * in 2 months.

I arranged to see the townhouse, gave the owner my recommendations for some inexpensive upgrades * one was a builder issue that the owner allowed to go too long and that may not be covered by the builder after this late date * and he signed a management agreement with me.

I found replacement residents for mid-June through a local real estate agent, they signed their new lease and I wrote the current residents and gave them their move-out instructions via e-mail and snail-mail today.

NOW! Houston * we have a problem. The DIY owner does not have a duplicate key to his townhouse. Since one of his tenant/ roommates has already left, I've asked the remaining residents to give me her key and leave it out for me on Friday and I will pick it up.

In my letter, I provided them with names of a good carpet cleaner and a house cleaning service and advised them that I will be checking the property on June 1st since they are moving May 31st......assuming I have a key. If I do not, I'll meet my locksmith at the property and he can cut me a new key to the current locks and I'll proceed with getting the unit ready for my new residents.

As the bumper sticker suggests, hope for the BEST and plan for the WORST!

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

Dogs, dogs, dogs.

Wallace S. Gibson CPM * LandlordWhisperer (Gibson Management Group, Ltd.) — Tue, 08 May 2012 14:32:38 -0700

I'm not sure why anyone would not screen a pet just like they screen their residents. I've frequently met pets when their owners are viewing the property and I would not take a pet rent (too much trouble if the pet vacates "early") and some NONrefundable deposits are unlawful - if the pet is a part of the family * I'll take an additional $200 in the security deposit.

Via Todd & Danielle Millar (Glenn Simon Inc.):

Do you rent to them? Not dogs directly but the people that own them? I'm starting to have reservations. Of course finding a niche and making it your own can help increase your rents or fees you charge thus increasing income. However, is the pet fee you take or the slightly increased rent you charge worth the post Rover clean up?

How about this:

"This flooring is damaged beyond repair by a large dog. Pets such as dogs and cats can cause significant damage to a house, such as scratching, clawing, spraying, defecation and urination. Pets can generate allergens in persons sensitive to pet dander, fur, etc. Carpeted floors may need removal; hardwood floors may be permanently stained or damaged requiring repair, refinishing or replacement. Masonry floor surfaces may require chemical cleaning, neutralizing odors, and the application of a sealer to control odors. Pets can cause flea infestation in carpets and furniture and house requiring fumigation." Ace Home Inspection Inc.

Is that about $250 in the non-refundable pet fee or $50 more per month in rent? Try a few thousand dollars. I had to Ozone a townhouse to remove the smell of cat urine it cost about $1800.

I live by an off leash dog area and hear all the time - "My dog is friendly he won't bite anyone!" Only to have to grab my toddler out of the way as the dog jumps repeatedly on his back. I also got bit by a "friendly dog". My point if your tenant's dog is as quiet, old perfect as the tenants say then great! If not be prepared for some big bills or lots of diligence on your part to limit the damage.

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

PropertyManagementMaven

LARGE Home for Lease*5 Min to UVa Med Center*$3,295*Available July 1

HOA GOOD Idea to allow Rentals*BAD Execution to be Involved in Process

Cities are REthinking Rental Property Inspection Programs * YEAH!

I'll Take * Rush Limbaugh and Dale Earnhardt Jr for $80m, Alex....

I'll take *Where was Facebook Invented Alex for $38 per share in today's IPO

Are your tenants running background checks on you? Remember! LANDLORD RULES!

You Have The Right To Remain Quiet! DIY Landlords need to KNOW this!

THE BAD NEWS HOMEOWNERSHIP HIT A 15 YEAR LOW IN THE FIRST QUARTER

Want to buy an Electric Car? Ask your Landlord FIRST!

Sycamore Square Home in Fluvanna for Lease $1,795 * Available July 1 * 20 Min to UVA

Legendary Auto Icon Carrol Shelby has died at the age of 89

Rebrand or Improve Your Property Management Business?

Mad as a Hatter! Do you know the origin of this term? Ask Bill O'Reilly

Taking Over a DIY Landlord Property with Tenants is a CHALLENGE

Dogs, dogs, dogs.

LARGE Home for Lease5 Min to UVa Med Center$3,295*Available July 1