Don’t Let This Happen to You…!!! You and Your Property Could Be on the Evening News and the Front Page of the Local “Fishwrap”
I’ve been in the Property Management business for a while now. You know, it never ceases to amaze me how some owners of Residential Income Property fail to properly maintain their investments.
Over the years local governments have been taking on more and more responsibility of regulating Apartments and other Residential Rental properties, because of consumer complaints
If you are a “seasoned” investor or someone that is thinking about getting into the business, don’t do what these owners are alleged to have done.
- Don’t cover up a potential “mold” issue
- Don’t ignore leaking roofs or other “water” intrusions
- Don’t ignore vermin such as cockroaches, mice/rats and now “bedbugs” that have made a comeback
The Owners of this apartment complex in Rancho Cordova may have thought that because some of these tenants are “low income” they could ignore or postpone these maintenance issues. They have, as we say “received a rude awakening”.
The Owners have come under fire from a group of tenants that are suing them for $10,000,000. To make matters worse, the lawyer they hired is an attorney that is well known in the State of California for bringing these kinds of lawsuits against landlords. It was bad enough that the City of Rancho Cordova got involved, but they now face this big storm of a lawsuit.
So if you don’t want to be the lead story on the local Fox 40 News Station,( Click here for that video) or on the front page of the Sacramento Bee (Click here for that story) then I hope you will take to heart what I’m saying here.
While the bottom line may hopefully result in the Insurance Company settling this for a lot less than $10 Million, do you want to go through the hassle and have your name smeared in the news just to save a couple of bucks on something you should have known better..? Because if you weren’t aware of it before, there are lawyers out there just itching to take a case like this against you, “the landlord”.
Are you catching my drift here…?
Now….In the Mean Time…?
Make it a Great Day…
- Guidelines for landlords Managing your rental business (choiceofhomes.com)
- What you need to ask a property manager/ management firm before hiring (choiceofhomes.com)
- The best way to Ensure Tenants Take care of Your Property (tfollowers.com)