Property Management Forum

Dissemination of Technical information for faster development

Marietta71 — Fri, 27 Mar 2009 08:08:09 GMT

Accurate technical information must reach the hands of all those involved in real estate management and building construction. The National Building Code (NBO) has been compiled to bring about uniform quality standards in the building works being undertaken. It is intended to meet the requirements of technical personnel engaged in housing activities such as architects, engineers, builders, technicians, skilled construction workers and people building houses on their own.

This information will enable the technical personnel to become more proficient in their work and achieve higher productivity at lower costs. The information should be presented in a manner so as to suit the requirements of the technical personnel at different levels. Recent studies have shown a total lack of awareness among the common people and also the skilled workers working in the building construction sector.

When inspecting flats and apartments Ernakulam districts urban development authorities were seen ignoring the glaring shortcomings in the work done. In many instances, the safety standards were given a goby. The indifferent attitude of the site inspectors is the main cause for such a situation. Some of the building contractors created a bad name for themselves by raking in phenomenal profits through the use of substandard building construction materials.

Adherence to stringent quality standards is the only way out to restore confidence in the apartments and flats built in Ernakulam. It is easier said than done. The final cost of a flat or apartment will go up phenomenally if all the quality parameters are followed. The builders profit margins will come down. Even then great changes are likely to take place in the hot property market in Kerala. The decline in profits can be certainly made up in the near future.

Forum: Industry News

Global recognition

Ramsby15 — Thur, 13 Nov 2008 08:25:53 GMT

Taking a positive cue from the present situation in the state of Kerala and the spurt in the real estate market the prominent property developers across the length and breadth of the nation as well as international players have turned their attention towards developing Kerala real estate thereby bringing novelty in its infrastructure.

In the recent years real estate has transformed into a separate asset class and an interesting avenue of investment for people keen on investing for returns. The most prominent advantage of real estate investment is that such investments do not require daily tracking unlike investment in stocks and shares where the rate of interest varies on a daily or sometimes even hourly basis. The heightened activity in Kerala real estate is fallout of greater affordability amongst the people, many of whom are working abroad. This, coupled with increase in underlying demand conditions has contributed to this favourable real estate market in the state. Kerala has emerged as an extremely compelling investment story and expects to be a long distance runner in the real estate sector. The residential market is alluring thanks to the rapid urbanisation, availability of housing finance and the strong growth of the consumer segment. The Kerala property market has largely been a residential market. However, this is soon changing with the emergence of the IT and ITES sector. The commercial property is getting to be equally interesting and if you have money to spare perhaps this is the right area to invest in.

Forum: Industry News

A business with a difference

Priji — Sat, 01 Mar 2008 04:22:28 GMT

Several factors contribute to the shortage of a particular product or service when phenomenal demand for the particular product or service exists in the market. In India, during times of low population growth in the early 1900s, more land was available for various uses. This changed in recent times due to the phenomenal population explosion and also the continuous economic boom.

Urbanization became more pronounced in the early stages in the metro cities. Just a few decades ago, more job and business opportunities existed in the metros. The city of Mumbai, the financial nerve center of India witnessed an enormous increase in population. This megapolis is now home to more than 10 times the population residing in an average town or city in India.

Prominent realtors in India actually started their business in this teeming megapolis. In this highly competitive costly sector, the leading realtors had to seek financial assistance from the banks and other leading financial institutions. Most of the realtors started with building small apartment complexes that were just 5 to 7 storey high. With increasing demand they launched mega projects worth several crores of rupees.

Real Estate Business in India has now matured a lot and it is now able to offer global amenities at local costs. The phenomenal demand for apartment complexes has resulted in the continuous entry of new players into this hot market. In this profitable business there is a guarantee of phenomenal returns of up to five times the amount invested within a short period of time.

Forum: Industry News

Self Storage Unit Managemet

ppm — Wed, 16 Jan 2008 02:51:16 GMT

Hello to all, I'm hoping someone can provide some insight as to the pro's and con's to self storage management. I'm a licensed property manager in Montana and have 60+ apt and homes but have yet to delve into the "mini storage or self storage" aspect. I've been approached to manage 81 of these units and for starters I'm not real sure what fee to charge. Managing these units seems quite labor intensive. For starters, It would seem to be an awful lot of paperwork assuming I'd have to mail out monthly bills to the tenants. I have quicken rent pro 2.0 and that is a very weak software and barely gets the job done in my current situation so a software upgrade could be on the horizon.
I don't know much of the details surrounding this endeavor but will know a great deal more tomorrow. Some of the questions I'll ask and perhaps you guys could help me in this arena is the following...
1. Is it secured ie. fenced in, gated...
2. Are monthly notices mailed to the tenants currently?
3. Hours of operation
4. Average rents for all units
5. Vacancy rates
6. What does the owner expect report wise, ie monthly or annually

I plan on visiting a couple of places tomorrow and pick their braines as well.
Any feed back in the forum is welcome.

Forum: Ask an Expert

URGENT!!! HUD trying to impose requirements

Jeff — Tue, 30 Jan 2007 16:55:50 GMT

Call-to-Action

January 25, 2007

URGENT: Action Needed regarding the U.S. Department of Housing and Urban

Developments final Limited English Proficiency (LEP) guidance.

IREM Seek Your Letters of Support

IREM is working in conjunction with the National Multi Housing Council and the National Apartment Association on this issue

On January 22, the U.S. Department of Housing and Urban Development (HUD) issued final guidance clarifying the obligation of property owners who receive any federal assistance, including the Section 8 program, to accommodate people with Limited English Proficiency (LEP). The rules, which IREM continues to strenuously oppose, will become effective February 21 and effectively require covered owners to translate a broad array of vital documents in multiple languages, such as resident applications, leases, lease attachment applications, facility rules, facility regulations, termination/eviction notices and more. They also require verbal translations of these documents for those who do not read in their native language. The HUD guidance is intended to comply with a 2000 Executive Order noting the need for federal agencies to comply with Title VI of the 1964 Civil Rights Act by ensuring that people with LEP have meaningful access to their programs and activities.

While we support HUDs goal of ensuring that persons with Limited English Proficiency have access to federal programs, we find the methods HUD has proposed to advance the goal highly problematic. Further, we are concerned about the limited availability of funds for the Section 8 program and the unfunded mandates contained in the LEP requirements.

IREM opposed draft LEP rules when HUD first issued them in late 2003, noting that the Department's attempt to shift responsibility for translating documents to owners is impractical and expensive and threatens the uniform system of HUD-adopted model lease forms by requiring owners to create their own translations of them. IREM is asking the HUD Secretary to refrain from enforcing the final LEP guidance until concerns regarding the accuracy of translated documents and the competency of the interpreters, as well as the cost and the legal liabilities for affordable housing providers have been sufficiently addressed. We argue that HUD should bear the burden of translating basic program documents, especially since HUD created many of these model documents in the first place. In addition, we note that owners should not bear responsibility for assuring the competency of translators and interpreters.

IREM asks you to write a letter to your members of Congress (both House and Senate), and copy the HUD Secretary Alphonso Jackson and IREM:

1. You can write your own letters or simply use the sample letter, which is below.

2. Please be sure that you personalize the letters by printing them on your company letterhead. It is important to let your Member of Congress and your Senators know about your firms connection to his or her district and/or state.

3. Please fax the letter to your members of Congress and both of your Senators. If you need to find a fax number, the list is available at http://www.capwiz.com/cl.

4. Please send a copy of your letter to:

The Honorable Alphonso Jackson

U.S. Department of Housing and Urban Development

451 Seventh Street, S.W.

Washington, DC 20410

5. Please also fax a copy of your letter to:

IREMs Legislative Liaison, Amanda Chesley, at (312) 410-7921.

If you have any questions, please contact Chuck Achilles, IREMs Vice President of Legislation and Research, at (312) 329-6020 or cachille@irem.org.

SAMPLE LETTER TO CONGRESS

DATE

The Honorable

U.S. Congress

Washington, D.C. 20510

Dear _______:

I am writing to urge you to request that the Honorable Alphonso Jackson, the Secretary of the U.S. Department of Housing and Urban Development, refrain from issuing the final Limited English Proficiency (LEP) guidance until concerns regarding the accuracy of translated documents and the competency of the interpreters have been sufficiently addressed. Please delay the guidance effective date of February 21, 2007 until our concerns have been resolved.

The HUD guidance is intended to comply with a 2000 Executive Order noting the need for federal agencies to comply with Title VI of the 1964 Civil Rights Act by ensuring that people with LEP have meaningful access to their programs and activities. While we support HUDs goal of ensuring that persons with Limited English Proficiency have access to federal programs, we find the methods HUD has proposed to advance the goal highly problematic.

Our industry was concerned about the draft LEP rules when HUD first issued them in late 2003, noting that the Department's attempt to shift responsibility for translating documents to owners was impractical and expensive and threatened the uniform system of HUD-adopted model lease forms by requiring owners to create their own translations of them. Despite concerns raised by housing providers and Members of Congress about this unfunded mandate, there are no significant changes between the proposed guidance and this final guidance.

HUDs guidance obligates each individual firm to translate all of its vital documents (an estimated 30 to 50 documents at each property) into various foreign languages, as well as to provide oral interpretation upon demand. Industry estimates suggest that translating the numerous documents required could cost thousands of dollars per language per document for each firm that has to comply. Responsibility will be placed on owners with no specialized linguistic skills to ensure the competency of interpreters and the accuracy of translations. While HUD has stated that the translation costs would be an approved project expense, no new funding has been proposed to help offset this huge new financial burden. Further, we are concerned about the limited availability of funds for the Section 8 program and the unfunded mandates contained in the LEP requirements.

I feel confident that persons with Limited English Proficiency would be better served if HUD took a more proactive role in providing the resources necessary to assist this population. The suggested duplicative efforts across the country by small, medium or large housing providers will never reach the efficiency or sensitivity of a service that can be provided by HUD at a much more reasonable cost overall to the federal budget, with an assured level of quality control, and without subjecting housing providers to unnecessary and unduly expensive Fair Housing complaints.

I recommend that HUD produce standard translations of the vital documents (which HUD has not specifically identified) and provide oral interpretation services through a central hotline service. I support the goal of ensuring that persons with Limited English Proficiency have access to federal programs. The guidance should be overhauled to provide a more realistic and less burdensome division of LEP responsibilities between HUD and its private sector partners. Please urge HUD to delay the implementation of the Limited English Proficiency guidance.

Thank you.

Sincerely,

SAMPLE LETTER TO HUD SECRETARY JACKSON

DATE

The Honorable Alphonso Jackson

U.S. Department of Housing and Urban Development

451 Seventh Street, S.W.

Washington, DC 20410

Dear Secretary Jackson:

I am writing to urge you to delay issuing the final Limited English Proficiency (LEP) guidance until concerns regarding the accuracy of translated documents and the competency of the interpreters have been sufficiently addressed. Please delay the guidance effective date of February 21, 2007 until our concerns have been resolved.

Our industry was initially concerned about the draft LEP rules when HUD first issued them in late 2003, noting that the Department's attempt to shift responsibility for translating documents to owners was impractical and expensive and threatened the uniform system of HUD-adopted model lease forms by requiring owners to create their own translations of them. Despite concerns raised by housing providers and Members of Congress about this unfunded mandate, there are no significant changes between the proposed guidance and this final guidance.

I recommend that HUD produce standard translations of the vital documents (which HUD has not specifically identified) and provide oral interpretation services through a central hotline service. I support the goal of ensuring that persons with Limited English Proficiency have access to federal programs. The guidance should be overhauled to provide a more realistic and less burdensome division of LEP responsibilities between HUD and its private sector partners. Please delay the implementation of the Limited English Proficiency guidance.

Thank you.

Sincerely,

Forum: Tenant Screening

Big Merger

Jeff — Mon, 06 Nov 2006 22:39:10 GMT

CB Richard Ellis buying Trammell Crow

Nashville Business Journal - October 31, 2006

Two major players in the commercial real estate business are merging through a deal valued at $2.2 billion.

Los Angeles-based CB Richard Ellis Group (NYSE: CBG), which has an office in Nashville, will acquire Dallas-based Trammell Crow Co. (NYSE: TCC). According to a news release, CBRE will pay $49.51 per share plus the assumption of Trammell Crow debt and other transaction costs. The deal is expected to close later this year or early next year, and will require approval from Trammell Crow shareholders.

The merger unites one of Nashville's biggest commercial real estate players - CBRE ranked first in sales volume and third in leasing volume last year, according to Business Journal research - with a company that left Music City several years ago.

Trammell Crow had an office in Nashville until 2002, when it sold its local operation to ProVenture Commercial Real Estate. That move came on the heels of an exodus of brokers from Trammell Crow's Nashville office.

One who left was retail specialist David Baker, who helped found Baker Storey McDonald Properties. Baker is also an alumnus of CBRE, and says the merger is probably a good one.

"Crow is more developer-driven still," Baker says. "I mean, they have a lot of development expertise, CB does not. CB has always been a broker. And I think probably it's a very good fit."

Tom Frye, managing director at CBRE's local office, says the merger likely won't have a large impact in Nashville because there isn't a local Trammell Crow office. Indirectly, he says, the move is a positive because Trammell Crow is strong in facility management and property management.

"If you're doing facilities management or property management for a client, when it comes time to sell that property it generally gets listed with the firm that's doing the management," Frye says. "So I think in that regard, longer term, it will help us with the investment property sales business just because Crow's got those management relationships."

Rick Helton, managing director at ProVenture and former area director for Trammell Crow, says the two companies had an ongoing informal relationship, but that he doesn't expect the merger to affect ProVenture greatly. "We're already doing business with both" CBRE and Trammell Crow "in different cities," he says.

Trammell Crow's stock shot up nearly 25 percent, to $48.71, by 10 a.m. on Tuesday, far exceeding the stock's 52-week high of $41.45.

CBRE's stock was up nearly 7 percent and also set a new 52-week high, at $30.17 a share.

Forum: Industry News

City tries to oust trouble tenants.

Jeff — Mon, 06 Nov 2006 22:36:08 GMT

Granite City zeros in on troublesome tenants

BY JAYNE MATTHEWS
News-Democrat
GRANITE CITY - City leaders are talking about evicting residents who repeatedly cause neighborhood disturbances, and Granite City landlords want to be included in the planning.

City Attorney Brian Konzen said he's working on an ordinance modeled after the one passed in Schaumburg in 2003.

Scott Green, a member of the Granite City Landlord Association, wants the association to be part of the discussions.

"I'm in favor of it," he said.

Green said landlords in the past have not been part of the process when laws that affect them were passed by City Council.

"The implication is ... they don't ask the landlords anything. We're hoping for open communication between the city and the landlords. I think we're getting a little of that with the mayor; the Police Department, I believe they are trying," Green said.

If the city adopts Schaumburg's law, property owners and managers would be required to attend a seminar on crime prevention and pre-rental screening to obtain a special license. They also would be required to conduct criminal background checks on prospective renters.

After a specified number of police calls to the house or apartment, the landlord would be notified that the renter should be evicted. Landlords must take the needed court action.

Landlords in Schaumburg also must add a misconduct clause to their leases.

"The city can't force an eviction because the city has no (legal) standing," said Schaumburg Police patrolman John Nebel, who heads the village's Crime-Free Multihousing Program.

Nebel said a recent survey by the National Multifamily Housing Council revealed that 80 percent of its members already conduct criminal background checks.

Konzen said Granite City's law may vary from Schaumburg's because of the differences in the two communities.

Schaumburg, an affluent Chicago suburb, has 78,000 residents in its 20 square miles. It has apartment complexes as large as 500 units. Granite City is a blue-collar town of about 32,000 residents with smaller apartment complexes and a large number of single-family houses for rent.

Nebel said a tenant conduct clause already is contained in leases of people whose rent is subsidized by the U.S. Department of Housing and Urban Development. In a California case, it has been upheld by the U.S. Supreme Court.

Donn Schaefer of Belleville, president of the Metro East Landlords Association, said he thinks cities could enforce the evictions by revoking the offending renters' occupancy permits.

"Let's make it a city responsibility," Schaefer said.

Forum: Tenant Screening

Checking account history

Jeff — Mon, 06 Nov 2006 22:31:53 GMT

It may be a good idea to check a person's banking history. Accepting a bad check can lead to numerous problems. Knowing beforhand that a person has a history of bad check writing can be of valuable knowledge before you sign a lease with someone. An Efunds report can provide this vital information.

Forum: Industry News

Warning for CA Property Managers

Jeff — Mon, 28 Aug 2006 14:54:13 GMT

One of our members recently received from their Contract Administrator, a review and notification of missing documents for 59 Special Claims filed by their organization from 2004 to the current date. They noted various technical events that would void the claims and stated their intent to re-claim funds paid if the organization fails to provide the supplemental documentation.

1. Is your organization experiencing the same issues?
2. What are your thoughts on retroactively re-claiming funds for claims that were initially approved and paid as far back as 2004? We cannot find any support in the HUD handbok for anything other than the 45 day window to approve, amend or reject a claim.

Note the possible devastaing financial penalties to owners for having years and years of prior paid claims reversed - a bad policy for our industry where the owners have acted in good faith and relied on the CA's prior actions. This action appears to be the result of HUD's auditing the CA; now the CA wants to correct its own mistakes of the past by reviewing all special claims back to 2004.

If other organizations (such as yours) are as outraged at the administrative burden and devastating financial impact to owners as the result of the process, is this an issue that AHMA (locally, regionally and nationally) might want to take on?

Im very interested to hear your thoughts. Thanks.

Joe Diehl

AHMA Northwest

Joseph B. Diehl
AHMA of Washington (a chapter of AHMA Northwest and of NAHMA)
11100 NE 8th Street, Suite 410
Bellevue, WA 98004-4441
TEL (425) 454-6836
FAX (425) 454-7695
housing@sprynet.com
Visit us at http://www.ahma-nw.org

Forum: Industry News

Criminal searches, How and Why

Jeff — Fri, 25 Aug 2006 23:09:16 GMT

Every state has different requirements with criminal records. The most important thing to note is that you do have a duty to protect the tenants in your complex. I would suggest a criminal check, especially if you are in an area that is covered in a national search. Not every county in every state is covered in a national search. You can ask your service provider for exact coverage details.

If you are not covered by a national search a Manuel search is available but can be much more expensive. It will reduce your risk to future lawsuits by really checking into your potential tenant's background.

Forum: Tenant Screening

What Landlords need to know (FTC)

Jeff — Fri, 25 Aug 2006 23:01:42 GMT

http://www.ftc.gov/bcp/conline/pubs/buspubs/landlord.htm

Great article for every landlord.

Forum: Ask an Expert

Do renters benefit from a soft housing market???

Jeff — Fri, 25 Aug 2006 22:57:59 GMT

Renters benefit from soft housing market
Iowa State Daily - Ames,IA,USA
... 11,000 units in more than 3,000 structures throughout the city - and for property managers, such as Gary Hunziker of Hunziker Property Management, that has ...

Forum: Industry News

CA AG ok's housing discrimination against sex offenders

Jeff — Fri, 25 Aug 2006 22:54:51 GMT

ATTORNEY GENERAL CLARIFIES HOUSING DISCRIMINATION AGAINST REGISTERED SEX OFFENDERS
The prohibition against the unauthorized use of information on the Megan's Law Web site does not in itself qualify registered sex offenders as a class protected from housing discrimination under the Fair Employment and Housing Act (the "Act"). That was the opinion recently rendered by California's Attorney General Bill Lockyer on April 27, 2006.

As background, the Department of Justice makes available, through its Megan's Law Web site, access to information about registered sex offenders. The law, however, prohibits the use of this information for purposes relating to, among other things, housing or accommodations, loans, credit, or employment, except to protect a person at risk or as authorized by law.

The Attorney General was asked to render an opinion as to whether this prohibition against unauthorized use qualified registered sex offenders as a class protected from housing discrimination. The Attorney General concluded that it did not. "Registered sex offenders may be subject to housing discrimination 'to protect a person at risk' and as authorized by 'any provision of law,' but for no other reason," according to the Attorney General. "Under the Act, on the other hand, a claimant falling under a non-enumerated classification must satisfy the three-prong Harris test to prove unlawful housing discrimination in the particular circumstances" (citing Harris v. Capital Growth Investors XIV (1991) 52 Cal. 3d 1142). Briefly, the three-prong Harris test involves whether a claim of discrimination is based on a classification involving personal characteristics, whether the alleged discriminatory act at issue serves a legitimate business interest, and what the policy considerations are.

The Attorney General's opinion in this matter is fully set forth at its Web site at http://ag.ca.gov/opinions/published/05-301.pdf. Opinions of the Attorney General are not binding law, but they are entitled to great respect by the courts.

C.A.R.'s Legal Department provides REALTORS with various legal memoranda covering a wide range of topics of interest. Here are some of our new or newly revised legal memoranda now available through C.A.R. Online:

Forum: Industry News

Breaking News Wednesday, August 02, 2006

Jeff — Wed, 02 Aug 2006 15:03:28 GMT

Local nursing homes check residents for offenses

Read the story here.

Forum: Industry News

Rent is up in Sacramento

Jeff — Wed, 26 Jul 2006 17:30:19 GMT

Here is the story from the Sacramento Bee. Read it here!

Forum: Industry News