Tenants Have to Follow the Rules or a Termination of Tenancy Could Occur

When Given a Notice to Enter to Make Repairs… Be Available

We recently had the occasion of having to serve a tenant on more than one occasion to allow a Plumbing company entry into his unit to make a repair on a water leak that the tenant originally called in.

The plumbing company made more than a few attempts to get into the unit, but the tenant was never fully cooperative. Plumbing companies and other vendors we use can not always make an “on time” appointment. They will do their best but a lot of times they will have a “window” of time.   For example, “well be there between 9-11”.

Personally I agree with the tenant that if they use a window, it means they have to be there a 9 but the vendor may not show up until 10:30.  However,  that is the environment we live in and while it’s sometimes inconvenient we have to get the repair completed.

When the tenant stood us up again, we gave him a 48 hour notice to enter.

On the day we were supposed to enter, we get there with a copy of the keys just in case the tenant wasn’t home which,  in this case he wasn’t,  although he said he would be.

Here’s a list of the violations of his lease.

  • The Keys We Had Don’t Work – Tenant Changed the Locks
    If you didn’t know, as a Tenant you are allowed to change the locks on your door, BUT, you have to give a copy of those new keys to the Property Manager/Landlord in case they need access,  as was this case. Since the tenant wasn’t there and would not be available, we had to drill out the key and replace the lock.
  • The Tenant had “unauthorized” pets in his unit !
    After we get into the unit we find the tenant has dogs that he never told us about and was not authorized to have.
 So What Can Happen To a Tenant in a Case Like This..? 

The Tenant is going to be given a bill for the replacement of the lock since he didn’t give us a copy.  He also had dogs and never told us or got authorization so he getting a Termination Notice.

The new Statewide Rent Control Law does not come into effect until January 1, 2020, so his “termination of tenancy” doesn’t require any reason for the termination.   This was a tool that made it easier for Landlords to get rid of Tenants who don’t follow the rules.

So the advice I’d give you if you going to be a renter is, please follow the rules.   Most property managers don’t like kicking people out of their homes, but if you don’t follow the rules that is what could happen to you.

If you are an Owner/Investor looking for Property Management Services, please check us out at Haven Properties, Property Management Services 2nd to None.

 

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR

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Bread and Butter Sacramento Duplex for Sale

Your Basic Sacramento Duplex for Sale.

You’ve got to check out the Duplex for Sale at 7312-7314 Arleta Court in Sacramento we just listed a couple of days ago.

It’s on a nice Leafy green Cul-de-Sac location with other like kind duplexes.

CLICK HERE for a link to get Cash Flow Figures, Rental Survey and more pictures of the property and the surrounding street.

If this Sacramento Duplex interests you, please call or send a text to me at 916.203.1260.   You can also send an email to:   favinger@rwnetwork.com

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

 

Sacramento Duplexes – A Good Buy for Long Term Cash Flow…!

Sacramento Duplex Prices Are Steady & Rents Are Good…!

With the annual rate of appreciation of Real Estate prices in the Sacramento area generally slowing down a bit buying a Duplex here might be a little easier with fewer multiple offers.

20140905_144808Don’t get me wrong if you have been looking for an Investment like a Sacramento Duplex there are still multiple offers occurring.

That is especially true if the Duplex has been well maintained with good curb appeal and a great tenant profile paying close to or at Market Rents.

Those Duplexes that have some deferred maintenance issues and below market rents will take a little longer to sell if they are not priced correctly to make up for their deficiencies.

Here’s some quick statistics for you regards closed sales from January 1, 2019 to Date, February 12th.

Average Average   Pct of
List Price Sales Price List Price
 $  371,088  $   365,641 98.5%

As you can see it looks like prices have stabilized somewhat, but the rents are still going up.   Maybe now is the time to make a move into Buying a Sacramento Duplex.

If you’re thinking of investing in Sacramento Duplexex, maybe a Four-Plex or even a small Apartment complex please drop me an email note at favinger@rwnetwork.com or call/text me at 916.203.1260.

By the way… We do Property Management as well.

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

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Rents Are Up In a Good Market and are Up in Down Market..!

You’d think the opposite would be true but it’s not.

It’s amazing  when you think about it, but after watching the video that I’m going to post below, I realized these guys are right.

When the Real Estate Sales market is “hot” rents go up.   But, even in a down turn, the rent rates still go up.

Messrs Brian Stevens and Frank Garay are a couple of loan guys that do a lot of video updates about the Real Estate Loan market, Real Estate Sales and about some of the “inside baseball” stuff for those of us in the business.

Our Property Management company is now leasing up Units in Apartment complexes, Duplexes and Single Family Homes for record high rental amounts and many times with “multiple applications”.

So after taking a peek at their video that I got today,  I thought I’d share it with you because their conclusion about rents going up in good and bad markets is something I had not thought of.

You can skip the beginning of the video if you want to and go to the 3.43 minute mark to see their presentation that includes an interesting graph to make their point.

If you are thinking of Investing in a Residential Rental property such as a Duplex or a Four-Plex, a Small Apartment complex or even a Single Family home….?

Then, call me at 916-203-1260 or drop a note my way at favinger@rwnetwork.com.

I’ll bring you up to speed on our local market with comparable sales information and also what you can expect to earn in rents.

In the Mean time…?

Make it a Great Day…

Ed Favinger, Broker, CRS, GRI, SFR, CDPE        favinger@rwnetwork.com

 

Sacramento Area is the Best Area Residential Real Estate Investors

In An Improving Economy – Not Enough Homes – Creates Higher Prices & Rents.

If you’re a San Francisco Bay Area home owner or investor and looking for a place to move to or invest in, you can’t really beat the Sacramento Area.

tamis cambridge
Two Homes On One Lot in Cameron Park Managed by Haven Properties

Prices and rents have gone up but are still a bargain when you compare them with Santa Clara, Contra Costa, San Mateo, Alameda and San Francisco Counties.

Just take a peek at what you can buy here in Folsom and compare that where you live in the Bay Area.

If you’re an investor, you can still get a decent Duplex or Four-plex for under $400,000 and have a “cash flow” which is unheard of in the Bay Area now.    Foreign Investors are just parking their money in the Bay Area in hopes of higher appreciation down the line, but they don’t have a decent cash flow return in the mean time.

I thought I’d pass on this article from the East Bay Times.    Maybe it’s time to Move here and/or Invest here…?

And Finally…. The two things we don’t have as bad as the Bay Area….? 1. No Rent Control… 2 And Bay Area “traffic”.

In the mean time…?

Make it a Great Day…

Ed Favinger, Broker, CRS, GRI, SFR, CDPE   916-203-1260  favinger@rwnetwork.com