OT Survey

I manage my own and have managed for others, single family homes for over 25 years while being a license real estate broker. I used to work with clients (buy, sell, manage, etc... ) but now only for myself. I could answer these questions but won't because unless it's around Houston, Tx., the answers could be different. You really need to see what the competition is doing in your area so you can be competitive. I'd suggest to talk to at least 2 Realtors locally and ask them these questions and let them show you on paper the competition to see what they provide as well as the pricing. I might also suggest to list with a Realtor because they can do a lot of work for you, answer your follow up questions and provide the lease as well. Our lease over the years has gotten so long that it's now15 pages. It's quite comprehensive of course. Of course it's only a piece of paper if you know what I mean. Oh some Realtors can manage your property if you don't feel comfortable doing it but be careful. You really only want experienced managers. Also check what the licensing requirements for others to manage your property are, if you go that route. I could tell you stories about managing property for others but I don't know if it would help you. Besides if you don't go this route, I'm wasting your time.

Reply to
Doug
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On Mon, 30 Apr 2012 00:24:51 -0400, "Mike Marlow"

Don't know about down there, but that 'dumb' law as you phrase it exists up here. With a 24 hour notice, the superintendent can come in and inspect a number of things, the primary one being the in suite fire alarm.

Reply to
Dave

The a/c filter is not usually found on the outside of the building.

Reply to
HeyBub

No, a 'fridge is not usually necessary to get a CO. Stove, yes.

Yes.

Reply to
krw

None of this CO business in Kansas nor missouri. not familiar with the rest. sounds like bs.

Reply to
Steve Barker

On Mon, 30 Apr 2012 23:21:50 -0400, " snipped-for-privacy@att.bizzzzzzzzzzzz"

I didn't follow the beginning of this thread, so I don't know what a "CO" is, but the last three rentals I've been in have always included a stove and a fridge. That's been over a span of thirtyfive years. But then, they were all apartments.

I think a house may fall under a different set of consideration criteria when rental is considered. In my experience, cooking, refrigeration and heating are considered minimum 'must haves'.

Reply to
Dave

Really no guidelines, it's between you and the tenant, and of course can pretty much be adjusted by changing the rent.

I'm facing the same question, whether I can or should sell a house in this awful market or try to rent it out to carry for a couple of years, and if so just what to include.

As a landlord renting can either be a breeze or a nightmare, or anything in between. Depends on the tenant of course, and also on events, what happens to break and why.

J.

Reply to
JRStern

As long as you know that a bankruptcy can stop a foreclosure dead in its tracks (well at least in Texas). Going thru this now for the 2nd time on a house I hold the paper to.

Reply to
Doug

In Texas, a homestead declaration can protect a home from seizure in bankruptcy or other debt, with three exceptions:

  1. Taxes,
  2. A loan to BUY the property,
  3. A loan to IMPROVE the property.

Florida has the same or similar protections. I don't know about other states.

Reply to
HeyBub

Very important for seniors and disabled. Remember to vote AND look for this on the ballot.

You MUST vote in May to keep the Homestead tax cap for 65 and over, even if you are not 65 yet. If you are a Texas homeowner then this is important to YOU, no matter what your current age, or if you are disabled or not. It WILL BENEFIT YOU in the future. It is also very important to your relatives/friends who are in one of these groups already. If you agree, please pass along to all on your TEXAS Residents email lists.

I am sending this email to everyone on my email address list who lives in Texas. I want to be certain you are aware of a constitutional amendment that will be on the ballot at the May election. It is an amendment to correct an error made by the lawmakers when they voted for a reduction in school property taxes in 2005.

When the lawmakers voted for a one-third reduction in school property taxes beginning in 2006 and to be completed this year, they FORGOT about the Homestead Exemption for senior citizens (65 and older) and people with disabilities. The state constitution caps school property taxes for homeowners 65 years and older and those who are disabled. However, they DID NOT get the same reduction when the property tax cut for schools was voted on two years ago.

So an amendment is on the May ballot to correct this error.

Reply to
Richard

Slight correction:

"Officials at the Office of the Secretary of State say e-mails circulating about a Homestead Exemption Tax Amendment are fake. "The e-mail in question says voters must choose whether or not to keep the homestead tax cap for people 65 and older. Spokeswoman Ashley Burton said that the e-mails are completely false and that there are no statewide initiatives on the ballot for the May election."

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Reply to
HeyBub

I'm the mortgage holder so that qualifies as #2 but the mortgagee also owes property taxes so while I tried to foreclose and am the first lien holder, taxes still take priority over my position. Of course he stopped the foreclosure with his bankruptcy but the bankruptcy plan still had to include property taxes and my first lien position, then the rest he owes to others. Just as a side note, there is a meeting to dismiss the bankruptcy because he's not following the plan to pay the trustee. Should it be dismissed, I will foreclose. There's a lot more to this story but it's not needed to say here.

Reply to
Doug

No. Well, yes. ;-)

Reply to
krw

Right and I already answered his post with my 25 yrs + experience managing properties in Texas. How bout you?

Reply to
Doug

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Ok, my apologies for rabble rousing.

But we won - so it's a good thing too.

Sorry.

Reply to
Richard

We Texans try to be a light unto the nation...

Reply to
HeyBub

CO == Certificate of Occupancy - the piece of paper that grants you the privilege of living in your own home.

It certainly varies by jurisdiction as do tenant's rights and the whole nine yards.

Reply to
krw

Is that why I see all the outa state license plates around Houston, Texas? Maybe the last one out of their state shuts down his power grid and then aims for the light .

Reply to
Doug

Could be. Incidentally, these immigrants learn right away to lay off the horn. Many of the objects of their impatience are armed.

Reply to
HeyBub

Any of those license plates from California, the land of fruits and nuts?

Christopher A. Young Learn more about Jesus

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Is that why I see all the outa state license plates around Houston, Texas? Maybe the last one out of their state shuts down his power grid and then aims for the light .

Reply to
Stormin Mormon

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