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<channel><title><![CDATA[Nationwide Realty Management LLC.  - Blog]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/blog.html]]></link><description><![CDATA[Blog]]></description><pubDate>Thu, 17 May 2012 04:23:57 -0800</pubDate><generator>Weebly</generator><item><title><![CDATA[Good Neighbor Next Door Mortgages ]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2011/07/good-neighbor-next-door-mortgages.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2011/07/good-neighbor-next-door-mortgages.html#comments]]></comments><pubDate>Wed, 27 Jul 2011 15:19:06 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2011/07/good-neighbor-next-door-mortgages.html</guid><description><![CDATA[The National Servicing Center  (NSC) in Tulsa monitors the servicing of Good Neighbor Next Door (GNND)  loans after closing. The Good Neighbor Sales program allows eligible  full-time law enforcement officers, teachers, and firefighters/emergency  responders to participate. This page describes GNND participant  responsibilities according to program regulations.  If you have any questions about your GNND mortgage, please  [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph editable-text" style=" text-align: left; ">The National Servicing Center  (NSC) in Tulsa monitors the servicing of Good Neighbor Next Door (GNND)  loans after closing. The Good Neighbor Sales program allows eligible  full-time law enforcement officers, teachers, and firefighters/emergency  responders to participate. This page describes GNND participant  responsibilities according to program regulations.  If you have any questions about your GNND mortgage, please <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/nsc/fmaddr" style="">click here</a> for information about how to contact HUD's loan servicing contractor, C&amp;L Service Corporation (CLS).<br /><br /> Annual Certifications  When participants purchase properties under the GNND  program they agree to own and live in the property for a three-year  period as their sole residence. Participants are required to certify  every year that they are living in the property.<br /><br /> The annual certification is mailed to participants,  ready for signature, around the anniversary of the purchase.  Participants should sign, date, and return the form to the address  specified in the letter. If they fail to return the first letter, a  follow-up letter is sent one month later. At times, their return letter  and our follow-up letter cross in the mail. If this happens,  participants can either contact our servicer to determine if the first  certification was received and logged in or they can sign and return the  second certification. <br /><br /> If participants fail to return at least one annual  certification per year, NSC refers the case for investigation. An  investigator will then make an on-site visit to verify the occupancy of  the property. Further, the investigator will ask the participant to sign  the annual certification in their presence. In the event that  investigation fails to verify occupancy, the participant will be turned  over to the Office of Inspector General for further investigation and  possible prosecution. To avoid noncompliance, complete and return the  annual certification forms promptly and honestly. Falsifying information  on this certification is a felony. HUD will prosecute false claims and  statements. Conviction may result in criminal and/or civil penalties.  (18 USC 1001, 1010, 1012 3559, 3571; 31 USC 3729, 3802).<br /><br /> Military Duty Participants who are called to active military duty  are provided clemency in regards to the owner occupancy requirements of  the program for the timeframe that they are on active duty. Participants  on active military duty are not required to occupy the property and are  allowed to rent the property (only while on active duty) if necessary  to minimize potential vandalism. However, the NSC needs to be aware of  those participants who are on active military duty and are not occupying  their property. Participants must notify the NSC according to the <a href="http://portal.hud.gov/hudportal/documents/huddoc?id=DOC_14630.pdf" style="">Military Duty Instructions</a>.  Print out the information and instructions and comply with the  instructions so that you will not be referred for investigation during  your military duty. <br /><br /> Subordinations When participants close on their home, they sign a  note and a mortgage. The mortgage is filed right after the first  (primary) mortgage, making it a second mortgage. When participants pay  off their first mortgage (usually done by refinancing), HUD's mortgage  moves into first position. If a participant is attempting to refinance  their first mortgage, the lender will want its new loan to be in first  position. In order to accomplish this, HUD must be willing to  subordinate its position to the new first mortgage.<br /><br /> HUD has certain rules and procedures regarding  subordinating. The rules are that HUD will consent to refinancing (1)  for the purpose of obtaining an FHA 203(k) rehabilitation loan or (2)  for the purpose of obtaining a lower mortgage interest rate or change in  the term of the loan and (3) to prevent the participant from defaulting  on the first mortgage. The 203(k) loan is a rehabilitation loan in  which necessary property improvements are financed into a new loan.<br /><br /> The closing (or title) agent handling the closing of  the new loan should handle the paperwork and details to obtain the HUD  subordination. Participants can refer the closing company to this page  or they can print the <a href="http://portal.hud.gov/hudportal/documents/huddoc?id=DOC_14631.pdf" style="">Subordination Information</a>  sheet and take it to the closing company. Read the linked information  then mail or fax the subordination request to HUD's servicing  contractor, <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/nsc/fmaddr" style="">C&amp;L Service Corporation (CLS)</a>.<br /><br /> &nbsp; Pay Offs If a participant needs to dispose of the property  before expiration of the three-year occupancy period (for job  relocation, family composition changes, or refinance), HUD's servicing  contractor, <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/nsc/fmaddr" style="">C&amp;L Service Corporation (CLS)</a>,  processes those payoffs. Fax the request for the payoff with the  following information: participant's name, full property address,  estimated closing date, company requesting the payoff, company address,  company telephone number, return fax number, and signed permission of  the participant to collect the data. All of this information may be  mailed or faxed to CLS. Payoff requests are usually processed and faxed  out within 2 business days of receipt. <br /><br /> &nbsp; Releases  At the end of the required three-year occupancy  period, HUD's second mortgage will be released provided (1) the  participant has completed and returned the required annual  certifications, (2) is not currently under investigation by the Office  of Inspector General, and (3) is in compliance with all GNND  regulations. A mortgage satisfaction will be filed with the  participant's local county recorder's office. After the release is  filed, a copy will be mailed to the property address. Thereafter, HUD's  second mortgage will not show up on the title to your property. After  release, there is no further obligation to or restrictions imposed by  the Department of Housing and Urban Development. Releases are mailed to  the county recorder for filing no later than thirty days after the end  of the required occupancy period. However, some counties have a filing  backlog, over which HUD has no control.<br /><br /> Releases are prepared and filed by HUD's loan servicing contractor, <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/nsc/fmaddr" style="">CLS</a>.<br /><br /></div>  ]]></content:encoded></item><item><title><![CDATA[Buy Houses 50 percent discount off appraised value. Only $100 Down Payment required*. ]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2011/07/buy-houses-50-percent-discount-off-appraised-value-only-100-down-payment-required.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2011/07/buy-houses-50-percent-discount-off-appraised-value-only-100-down-payment-required.html#comments]]></comments><pubDate>Wed, 27 Jul 2011 15:16:15 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2011/07/buy-houses-50-percent-discount-off-appraised-value-only-100-down-payment-required.html</guid><description><![CDATA[About Good Neighbor Next Door  Law enforcement officers, pre-Kindergarten through 12th grade  teachers and firefighters/emergency medical technicians can contribute  to community revitalization while becoming homeowners through HUD's Good  Neighbor Next Door Sales Program. HUD offers a substantial incentive in  the form of a discount of 50% from the list price of the home. In  return you must commit to live in the property for 36  [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph editable-text" style=" text-align: left; ">About Good Neighbor Next Door  Law enforcement officers, pre-Kindergarten through 12th grade  teachers and firefighters/emergency medical technicians can contribute  to community revitalization while becoming homeowners through HUD's Good  Neighbor Next Door Sales Program. HUD offers a substantial incentive in  the form of a discount of 50% from the list price of the home. In  return you must commit to live in the property for 36 months as your  sole residence.<br><br> How the Program Works Eligible Single Family homes located in <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/reo/abtrevt" style="">revitalization areas</a>  are listed exclusively for sales through the Good Neighbor Next Door  Sales program. Properties are available for purchase through the program  for five days.<br><br> How to Participate in Good Neighbor Next Door Check the <a href="http://www.hud.gov/homes/index.cfm" style="">listings for your state</a>.  Follow the instructions to submit your interest in purchasing a  specific home. If more than one person submits on a single home a  selection will be made by random lottery. You must meet the <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/reo/goodn/particip" style="">requirements</a>  for a law enforcement officer, teacher, firefighter or emergency  medical technician and comply with HUD's regulations for the program.<br><br>HUD requires that you sign a <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/nsc/gnndserv" style="">second mortgage and note</a> for the discount amount. No interest or payments are required on this "silent second" provided that you fulfill the <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/nsc/gnndserv" style="">three-year occupancy requirement</a>.  The number of properties available is limited and the list of available properties changes weekly.<br><br>To learn more, please see Good Neighbor Sales <a href="http://portal.hud.gov/hudportal/HUD/program_offices/housing/sfh/reo/goodn/gnndfaq" style="">Frequently Asked Questions</a>!</div>  ]]></content:encoded></item><item><title><![CDATA[Call for Action: Loan limits may decrease. Respond now!]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2011/07/call-for-action-loan-limits-may-decrease-respond-now.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2011/07/call-for-action-loan-limits-may-decrease-respond-now.html#comments]]></comments><pubDate>Sat, 16 Jul 2011 09:40:12 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2011/07/call-for-action-loan-limits-may-decrease-respond-now.html</guid><description><![CDATA[Call for Action: Loan limits may decrease. Respond now!FHA and Conforming loan limits will drop dramatically on September 30. Bank of America has already lowered their loan limits for new loans, and others will follow suit.&nbsp; We need Congress to take action now and extend the loan limits prior to them leaving for their August recess.&nbsp; &nbsp;Early next week the U.S. Senate will conside [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph editable-text" style=" text-align: left; "><strong style="">Call for Action: Loan limits may decrease. Respond now!</strong><br /><br />FHA and Conforming loan limits will drop dramatically on September 30. Bank of America has already lowered their loan limits for new loans, and others will follow suit.&nbsp; We need Congress to take action now and extend the loan limits prior to them leaving for their August recess.&nbsp; &nbsp;Early next week the U.S. Senate will consider amending the Military Construction Appropriations bill to maintain the current loan limits for at least another year. C.A.R. and NAR support this effort, and we need your help.<br /><br />Please respond to this Call for Action now to urge both Senators to work to maintain the current loan limits through this amendment or some other means.<br /><br />Respond now:&nbsp;<a href="https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&amp;page=UserAction&amp;id=1653" target="_blank" style="">https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&amp;page=UserAction&amp;id=1653</a><br /><br /></div>  ]]></content:encoded></item><item><title><![CDATA[ Questions for Determining if You Need a Property Management Firm Posted by Jordan Muela in Property Management Articles]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/09/-questions-for-determining-if-you-need-a-property-management-firm-posted-by-jordan-muela-in-property-management-articles.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/09/-questions-for-determining-if-you-need-a-property-management-firm-posted-by-jordan-muela-in-property-management-articles.html#comments]]></comments><pubDate>Sun, 12 Sep 2010 13:15:26 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2010/09/-questions-for-determining-if-you-need-a-property-management-firm-posted-by-jordan-muela-in-property-management-articles.html</guid><description><![CDATA[While every investors situation is different, there are certain  scenarios and factors that typically pre-dispose owners one way or the  other. The following questions are designed to help you determine if you  should consider hiring a property manager.  1. How far do you live from your rental property and how frequently can you visit the property on a regular basis? If you are close you may be able to make the regular v [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph" style=" text-align: left; ">While every investors situation is different, there are certain  scenarios and factors that typically pre-dispose owners one way or the  other. The following questions are designed to help you determine if you  should consider hiring a property manager.<br /><br /> <br /><br /> 1. How far do you live from your rental property and how frequently can you visit the property on a regular basis? If you are close you may be able to make the regular visits required  for maintenance, inspections, collections, etc., otherwise the further  you live the higher your travel time and expenses will be. The larger  the distance the more temptation there is to not keep a close eye on  things, and that can be a recipe for disaster. You should plan making  monthly scheduled visits and there is always the potential for a middle  of the night emergency call that requires your immediate attention. In  the long run, is this feasible for you?<br /><br /> 2. How do you deal with stress? Do you consider yourself to be a tolerant person? This is a tough one. We all like to think of ourselves as  level-headed and even-keeled, but at the end of the day it takes a  special kind of person to deal with the <a href="http://realestate.msn.com/article.aspx?cp-documentid=13108360" target="_blank">ups and downs of property management</a>.  Behind the seemingly simple task of collecting rent every month lie a  number of unpredictable problems can push people to their limits. Ask  yourself how you would react in the unfortunate event that tenants:<br /><br /> <ul><li>Get in fights with other tenants or neighbors </li><li>Have domestic disputes </li><li>Conduct illegal business in the dwelling </li><li>Carry on all night parties and revelry </li><li>Try to sneak extra people or animals into the home</li><li>Decide to sue you </li><li><a href="http://www.youtube.com/watch?v=MUseCJ7PhLQ&amp;feature=related" target="_blank">Trash the property </a></li><li>Incite the wrath of the HOA because of repeated deed restriction violations </li><li>Refuse to pay rent because they are a "<a href="http://www.massrha.com/index.asp?Type=B_BASIC&amp;SEC;=%7B26C634EB-39EF-424B-A7D4-F72CCEF4F047%7D" target="_blank">professional tenant</a>" and know how to work the legal system for the maximum amount of free housing at the owners expense? </li></ul> 3. Are you currently overwhelmed with your property(s)? Managing rental properties can become quickly overwhelming, even for  experienced investors. There is always something going on that requires  attention and it takes very little time for things to get out of hand.  Hiring a property manager can provide an opportunity to regain control  and restore stability to both your properties and possibly life in  general.<br /><br />  4. How many rental properties or units do you have? As your portfolio grows so do the management challenges, and it  becomes easier for things to fall through the cracks. Investors with  large portfolios stand to reap significant benefit by leveraging the  efficiencies a property manager can provide. Size can also constrain  investors' ability to consider purchasing new properties if they're  already maxed out managing their current holdings.<br /><br />  5. How much experience do you have with maintenance and repairs? If you can't do it yourself, do you know who to call? Finding  reliable handymen and contractors can take a while and in the mean time  you may unknowingly hire people that are unethical, uninsured, do poor  quality work, over charge etc. Maintenance and repairs are a significant  component of land lording and if you question your ability to ensure  the work is done well and in a timely manner, you might want to consider  hiring a property management company.<br /><br /> 6. How quickly are you able to get your unit rented? Advertising, fielding calls, and showing the unit can take a  considerable amount of time, but are critical tasks as vacancies will  quickly eat into your profit margins. If you question whether you have  the skills or the time to make this happen, OR if you have historically  had an unacceptably high vacancy rate, you may want to consider hiring a  property management company.<br /><br /> 7. Are you capable of handling the accounting and record keeping for your property? From profit and loss statements to tax deductions, this area needs  special attention and becomes an increasingly larger burden for larger  portfolios. Some owners (especially those with a back ground in finance)  will do just fine, others may opt to hire an accountant to help with  the book keeping. If you feel like this might be a weak point you might  want to consider hiring a property management company.<br /><br /> 8. Are you willing to be on call 24/7/365? Its important to answer this question honestly, because when an  emergency happens at your property you can't ignore it. Your special  event, important meeting, vacation, or personal crisis doesn't relieve  you of your obligation to your tenant. These emergencies don&rsquo;t happen  all the time, but when they do you have to be willing to handle them  immediately. Can you handle being called at 2 in the morning to fix  someone's overflowing toilet?<br /><br /> 9. Are you willing to confront tenants about late payments and if need be evict them from the property? Many new owners dislike feeling like the bad guy and try to be  understanding by making exceptions. The problem is that this only  invites additional abuses and excuses by tenants. Late payments must be  dealt with immediately, and while sometimes a friendly reminder is all  that&rsquo;s needed, other times, it can be a very <a href="http://www.youtube.com/watch?v=LJidDacQeKQ&amp;feature=related" target="_blank">confrontational process ending in eviction</a>.  Unlike running a charity, running a successful rental business means  enforcing the rules even it means evicting a single mother who lost her  job and won&rsquo;t be able to pay rent anytime soon.<br /><br /> 10. How well do you understand the laws governing land lording? Ensuring the property is run in accordance with the law is critical  in both preventing lawsuits and shielding yourself from liability if you  are sued. Familiarity with contracts is also very important as your  rental agreement is the only binding agreement between you and the  tenant.<br /><br /> 11. From a financial standpoint, is managing your property the best use of your time? Ultimately, your decision to hire or not hire a management company  should hinge on whether or not it is a good fit with your lifestyle and  makes sense financially.&nbsp; Individual investors will have to assess the  opportunity cost of both options based on their unique circumstances.</div>]]></content:encoded></item><item><title><![CDATA[What Are The Benefits of Using a Property Management Company? Posted by Jordan Muela in Property Management Articles]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/09/what-are-the-benefits-of-using-a-property-management-company-posted-by-jordan-muela-in-property-management-articles.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/09/what-are-the-benefits-of-using-a-property-management-company-posted-by-jordan-muela-in-property-management-articles.html#comments]]></comments><pubDate>Sun, 12 Sep 2010 13:10:04 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2010/09/what-are-the-benefits-of-using-a-property-management-company-posted-by-jordan-muela-in-property-management-articles.html</guid><description><![CDATA[A competent property manager can add significant value to your  investment, which is why many seasoned real estate investors will tell  you that a good management company is worth their weight in gold.&nbsp; Here  are a few ways that a good property manager earns their keep:  Higher Quality Tenants Think of tenant screening as the moat and draw bridge around your  castle. It is cert [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph" style=" text-align: left; ">A competent property manager can add significant value to your  investment, which is why many seasoned real estate investors will tell  you that a good management company is worth their weight in gold.&nbsp; Here  are a few ways that a good property manager earns their keep:<br /><br /> <br /><br /> <span style="font-weight: 800;">Higher Quality Tenants</span> Think of tenant screening as the moat and draw bridge around your  castle. It is certainly possible to get a bad tenant out of your home  once they are in, but it&rsquo;s a real hassle and you are so much better off  never accepting them in the first place. A thorough screening process  results in reliable tenants that:<br /><br /> <ul><li>Pay on time</li><li>Rent longer</li><li>Put less wear and tear on the unit</li><li>Generally cause less problems</li></ul>   An experienced <a href="http://www.managemyproperty.com/">property management company</a>  has seen thousands of applications and knows how to quickly dig for the  real facts about candidates and analyze that information for warning  signs. By allowing a management company to handle the screening, you  will also be shielding yourself from rental scams directed at owners,  and discrimination lawsuits resulting from an inconsistent screening  process. This kind of experience takes time, and insomuch as it means  avoiding bad tenants, scams and lawsuits it is arguably one of the most  significant benefits a property management company will provide.<br /><br /> <strong>Fewer costly and time consuming legal problems</strong> Veteran landlords know it only takes one troublesome tenant to cause  significant legal and financial headaches. A good property manager is  armed with the knowledge of the latest landlord-tenant laws and will  ensure that you are not leaving yourself vulnerable to a potential law  suit. Each state and municipality have their own laws, these plus  federal law cover a number of areas including but not limited to:<br /><br /> <ul><li>Tenant screening</li><li>Safety and property conditions of the property</li><li>Evictions</li><li>Inspections</li><li>Lease addendums</li><li>Terminating leases</li><li>Handling security deposits</li><li>Rent collection</li></ul> Avoiding a single law suit can more than pay for the property management fees, and spare you time and anguish.<br /><br /> <strong>Shorter vacancy cycles</strong> A property manager will help you perform three critical tasks that affect how long it takes to fill your vacancies:<br /><br /> <ul><li>Improve and prepare the property for rent - A property manager will  suggest and oversee cosmetic improvements that maximize revenue.</li><li>Determine the best rent rate - Too high and you are stuck waiting,  to low and you&rsquo;re losing money every month the tenant is in the unit.  Determining the optimal price requires knowledge of the local market,  data on recently sold comparables, and access to rental rate tools.</li><li>Effectively market your property - An experienced property  management company has written hundreds of ads and understands what to  say and where advertise in order to get a larger pool of candidates in a  shorter period of time. Additionally because of their volume they can  usually negotiate cheaper advertising rates both online and offline.  Lastly, they are familiar with sales and know how to close when they  field calls from prospects and take them on showings. </li></ul> <strong>Better tenant retention</strong> While its easy to see the effects of lost rent, there are other  equally serious problems with a high tenant turnover rate. The turnover  process involves a thorough cleaning, changing the locks, painting the  walls and possibly new carpet or small repairs, not to mention all the  effort associated with marketing, showing , screening and settling in a  new tenant. This is a time-consuming and expensive process that can  often be averted by keeping tenants happy and well cared for.<br /><br /> A good property management company will have a time-tested tenant  retention policy that ensures happy tenants with lengthy stays in your  properties. These kinds of programs require a consistent, systematic  approach, which is where a good property management company will shine.<br /><br /> <strong>Tighter rent collection process </strong> The way you handle rent collection and late payments can be the  difference between success and failure as a landlord. Collecting rent on  time every month is the only way to maintain consistent cash-flow, and  your tenants need to understand this is not negotiable. By hiring a  property manager, you put a buffer between yourself and the tenant, and  allow them to be the bad guy who has to listen to excuses, chase down  rent, and when necessary, evict the person living in your property.<br /><br /> If you let them, your tenants will walk all over you. They have to be  trained to follow every part of the lease or deal with the  consequences. Property managers have an advantage because tenants  realize that they, unlike the owner, are only doing their job and are  obligated to enforce the lease terms. Many property managers will tell  you that it is considerably easier to manage other people's units rather  than their own for this reason.<br /><br /> Regarding evictions, there are strict laws concerning the eviction process, and doing it wrong, or trying to evict a "<a href="http://www.massrha.com/index.asp?Type=B_BASIC&amp;SEC;=%7B26C634EB-39EF-424B-A7D4-F72CCEF4F047%7D">professional tenant</a>"  can be a MAJOR fiasco. A good property management firm knows the law  and has a good process for obtaining the best possible outcome given the  circumstances. Never having to handle another eviction can be a  compelling reason to consider hiring a property management company.<br /><br /> <strong>Assistance with taxes</strong> A property management company can help you understand which  deductions you can claim, as well as organize the necessary forms and  documentation to make those claims. Additionally, the property  management fees themselves are also tax deductible.<br /><br /> <strong>Lower maintenance and repair costs</strong> Good maintenance and repairs keep tenants happy and preserve the  value of your investment which make them a very important part of  land-lording. By hiring a management firm you gain access to both their  in-house maintenance staff, as well as their network of licensed, bonded  and insured contractors who have already been vetted for good pricing  and quality work. This can translate into significant savings compared  to going through the yellow pages and hiring a handyman yourself. Not  only is the firm able to get volume discounts on the work, they also  know the contractors and understand maintenance issues such that they  are capable of intelligently supervising the work.<br /><br /> <strong>Increase the value of the investment</strong> Preventative maintenance is achieved through putting systems in place  that catch and deal with maintenance and repair issues early on, before  they grow into larger more costly problems. This requires a written  maintenance check program, detailed maintenance documentation and  regular maintenance visits. The management firm can also offer you  suggestions and feedback on upgrades and modifications, both how they  will affect the rent you can charge, as well as their impact on  maintenance and insurance.<br /><br /> <strong>Personal benefits for owners</strong> <ul><li>Less stress - Avoid having to deal with middle of the night  emergencies, chasing down rent, evicting people from your property,  tenants who wreck your property, rental scams, lousy vendors, piles of  paperwork.</li><li>More freedom - Live and invest wherever you want with the constraint  of needing to be near your properties. Additionally you can live and  travel without the requirement of always being available in the event  that your tenants have a need you have to tend to. Once you have found a  good management company, it doesn&rsquo;t matter if you live in the same  state. Some landlords live in other countries and simply collect their  check every month without ever seeing the property.</li><li>Free up more of your time - Time is money, and for many investors,  their time can be more profitably spent in areas other than servicing  their properties. When you focus on asset management you&rsquo;re working ON  your business, when you manage your own properties you work IN it.  Additionally you have more time to spend with family or friends doing  things you enjoy.</li></ul> <strong>A final thought</strong> Of course, this is an ideal scenario.&nbsp; These results can only be  expected if a management company is competent, trustworthy and a good  fit for your property.&nbsp; A poor choice of a management company can  produce many headaches of its own.</div>]]></content:encoded></item><item><title><![CDATA[California May Insist on Landlord Participation in Section 8 Program]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/06/california-may-insist-on-landlord-participation-in-section-8-program.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/06/california-may-insist-on-landlord-participation-in-section-8-program.html#comments]]></comments><pubDate>Sun, 06 Jun 2010 13:20:29 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2010/06/california-may-insist-on-landlord-participation-in-section-8-program.html</guid><description><![CDATA[       On  June 9, the United States Supreme Court refused to hear the  case of Glenmont  Hills Assoc vs.&nbsp;Montgomery  County,&nbsp;Maryland,  a case  that addressed whether state and local governments have the authority  to  mandate participation in the Section 8 Housing Choice Voucher even  though it is  voluntary under federal law.                           As  a result, the lower court ruling will  stand. The findings in tha [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph" style=" text-align: left; ">       On  June 9, the United States Supreme Court refused to hear the  case of Glenmont  Hills Assoc vs.&nbsp;Montgomery  County,&nbsp;Maryland,  a case  that addressed whether state and local governments have the authority  to  mandate participation in the Section 8 Housing Choice Voucher even  though it is  voluntary under federal law.<br /><br />                           As  a result, the lower court ruling will  stand. The findings in that case  concluded that&nbsp;Montgomery&nbsp;County's   ordinance was not preempted by federal law and that the landlord had  violated  the ordinance by refusing to participate in the Section 8  program.&nbsp;&nbsp; The  California Apartment Association has&nbsp;filed a motion to  file an amicus  brief in the Supreme Court case.<br /><br />                           So  what does this mean for&nbsp;California?   Currently,&nbsp;California&nbsp;state law does not specifically  mandate rental  property owners' participation in the Section 8 program.&nbsp;California's   definition of "source of income" contains language that is intended  to  exclude Section 8 vouchers, so that the program remains voluntary for   landlords. The law provides:<br /><br />                                                                "Source  of income" is defined as "lawful,  verifiable income paid directly to  a tenant or paid to a representative  of a tenant. For purposes of this section,  a landlord is not  considered a representative of a tenant." (Government  Code Section  12955 (p)(1))<br /><br />                                                                        California's Department of Fair Employment  and Housing  agrees that the Section 8 program's rent subsidies are not  included in&nbsp;California's  definition of source of income. According to  the Department, "Source of  income is defined in the law as 'lawful  verifiable income paid directly to a  tenant or a representative of a  tenant.' Section 8 is a federal program  providing rental subsidies for  individuals who meet certain financial criteria  paid directly to a  landlord and, as such, it is not included in the definition  of source  of income."<br /><br />             Alternatively, some cities  in&nbsp;California&nbsp;do prohibit  owners from discriminating  against individuals who hold Section 8  vouchers. None of these local laws,  however, have been tested as to  their conflict with&nbsp;California&nbsp;state law. <br /><br />             &nbsp;</div>]]></content:encoded></item><item><title><![CDATA[Protecting Tenants at Foreclosure Act (PTFA) ]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/06/protecting-tenants-at-foreclosure-act-ptfa.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/06/protecting-tenants-at-foreclosure-act-ptfa.html#comments]]></comments><pubDate>Sun, 06 Jun 2010 13:16:06 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2010/06/protecting-tenants-at-foreclosure-act-ptfa.html</guid><description><![CDATA[The  NARPM&reg; Government Affairs Committee has prepared the following  summary of the  Protecting Tenants at Foreclosure Act of 2009 to help  educate NARPM&reg; members about  this new law. This is not a legal   interpretation of the Act, but rather a general guide to help you  understand more  about how the law protects tenants when a property  owner falls into foreclosure. The Act was designed to be silent on  several  issues which means yo [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph" style=" text-align: left; ">The  NARPM&reg; Government Affairs Committee has prepared the following  summary of the  Protecting Tenants at Foreclosure Act of 2009 to help  educate NARPM&reg; members about  this new law. This is not a legal   interpretation of the Act, but rather a general guide to help you  understand more  about how the law protects tenants when a property  owner falls into foreclosure. The Act was designed to be silent on  several  issues which means you will need to refer to your state law for  further clarification. We highly encourage you to consult an  attorney  if you have any questions.<br /><br /> 	  If  you are working with a tenant who is facing a foreclosure  situation, we suggest  you encourage them to speak with a HUD-approved  housing counselor. These counselors are trained to provide  helpful  advice at no cost and can be located on HUD's website by <a href="http://portal.hud.gov/portal/page/portal/HUD/i_want_to/talk_to_a_housing_counselor" target="_blank">clicking  here</a>.<br /><br /> 		The &ldquo;Helping  Families Save Their Home Act of 2009&rdquo; (S.896) went  into effect on May 20, 2009,  and included the &ldquo;Protecting Tenants at   Foreclosure Act&rdquo; (PTFA), as well as amendments to Section 8 of the  &ldquo;United  States Housing Act of 1937.&rdquo; Both  portions of the bill  establish new Federal protections for tenants living in  properties that  go into foreclosure.  This law preempts current state laws except where  a state&rsquo;s law provides  stronger protections for the tenant. The  PTFA  included a sunset clause which scheduled this law to expire on  December  31, 2012.<br /><br /> 	  	Effective May 20th,  tenants with a &ldquo;bona fide&rdquo; lease that was  entered into before notice of  foreclosure can remain in a foreclosed  home until the end of their lease,  unless the bank sells the property  to someone who intends to make it his/her  primary residence. If the new  owner  intends to occupy the home, they are still required to give  90-days notice to  the tenant prior to eviction. If the  tenant does not  have a lease (month-to-month) or current state law allows the  lease to  be terminated at will, there is still a 90-day notice requirement   prior to eviction. Notice must be  provided by the &ldquo;immediate successor  in interest&rdquo; which, in most cases, would be  the bank or the new owner.<br /><br /> 	  A &ldquo;bona fide&rdquo; lease  is defined in the law as one that:<br /><br /> 			<ul><li>(1)  the mortgagor or the child, spouse, or parent of the  mortgagor under the  contract is not the tenant;</li><li>(2)  the lease or tenancy was the result of an arms-length  transaction; and</li><li>(3)  the lease or tenancy requires the receipt of rent that is  not substantially  less than fair market rent for the property or the  unit's rent is reduced or  subsidized due to a Federal, State, or local  subsidy.</li></ul> 			PTFA Resources 			<ul><li><a href="http://www.narpm.org/docs/legislative/issues/ptfa_fullbill.pdf" target="_blank">Full  version of the Protecting Tenants at  Foreclosure Act</a></li><li><strong>PTFA Conference Call Forum  Audio &ndash; August  2009</strong><br />               The  Center for Housing Policy hosted a conference call  forum in August of 2009  regarding the PTFA which featured Catherine  Bendor of the National Law Center  on Homelessness &amp; Poverty, Danna  Fischer of the National Low Income Housing  Coalition, and David Rammler  of the National Housing Law Project. The 30-minute call briefly covered  the  legislative history of the provisions, the meaning of the law, and  the impact of  the provisions on state and local laws and practices.  The audio from this forum has now been posted  to their <a href="http://forum.housingpolicy.org/group/neighborhoodstabilization/forum/topics/live-at-the-forum-with" target="_blank">website</a> and can be accessed by <a href="http://www.housingpolicy.org/assets/Forum%20Library/LATF_082509.mp3" target="_blank">clicking  here (MP3)</a>. After the call there was an   online Q&amp;A session; <a href="http://forum.housingpolicy.org/group/neighborhoodstabilization/forum/topics/live-at-the-forum-with" target="_blank">click  here</a> to see how the panelists responded to  questions.</li><li><strong>HUD Notice Explaining  PTFA &ndash; June 2009</strong><br /> 	            In June of 2009, HUD submitted a <a href="http://www.narpm.org/docs/legislative/issues/ptfa_hud.pdf" target="_blank">notice</a> in the Federal  Register to help  explain the new tenant protections and discuss the  responsibilities of  the immediate successor in interest.</li></ul></div>]]></content:encoded></item><item><title><![CDATA[Maytag, Jenn-Air, Amana, Admiral, Crosley, Magic Chef, and Performa by Maytag Dishwasher Recall, 2010]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/06/maytag-jenn-air-amana-admiral-crosley-magic-chef-and-performa-by-maytag-dishwasher-recall-2010.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/06/maytag-jenn-air-amana-admiral-crosley-magic-chef-and-performa-by-maytag-dishwasher-recall-2010.html#comments]]></comments><pubDate>Sun, 06 Jun 2010 13:09:28 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2010/06/maytag-jenn-air-amana-admiral-crosley-magic-chef-and-performa-by-maytag-dishwasher-recall-2010.html</guid><description><![CDATA[Maytag, Jenn-Air, Amana, Admiral,  Crosley, Magic Chef, and Performa by Maytag Dishwasher Recall, 2010 										 												   												   													 													Information for Canadian visitors: English 													  | Francais [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph" style=" text-align: left; "><strong>Maytag, Jenn-Air, Amana, Admiral,  Crosley, Magic Chef, and Performa by Maytag Dishwasher Recall, 2010</strong><br /><br /> 										 												   												   													 													Information for Canadian visitors: <a href="https://repair.maytag.com/prjjck10/default.jsp?siteCd=RCU_EN_CA&amp;id=R173BV">English</a> 													  | <a href="https://repair.maytag.com/prjjck10/default.jsp?siteCd=RCU_FR_CA&amp;id=R173BV">Francais</a> 												  										 										  											<strong>WASHINGTON, D.C.</strong> - The U.S. Consumer  Safety Commission and Health Canada, in cooperation with the firm named  below, today announced a voluntary recall of the following  products.Consumers should stop using products immediately unless  otherwise instructed. <br /><br /> 											 											<strong>Name of Product:</strong> Dishwashers <br /><br /> 											<strong>Units: </strong>1.7 million in the United States  and 160,000 in Canada.<br /><br /> 											<strong>Manufacturer:</strong> Maytag Corp. of Newton,  Iowa or Maytag Corp. of Benton Harbor, Mich.<br /><br /> 											<strong>Hazard:</strong> An electrical failure in the  dishwasher's heating element can pose a serious fire hazard.<br /><br /> 											<strong>Incidents/Injuries: </strong>Maytag has received  12 reports of dishwasher heating element failures that resulted in fires  and dishwasher damage, including one report of extensive kitchen damage  from a fire. No injuries have been reported.  <br /><br /> 											<strong>Description: </strong>The recall includes Maytag&reg;,  Amana&reg;, Jenn-Air&reg;, Admiral&reg;, Magic Chef&reg;, Performa by Maytag&reg; and  Crosley&reg; brand dishwashers with plastic tubs and certain serial numbers.  The affected dishwashers were manufactured with black, bisque, white,  silver and stainless steel front panels. The brand name is printed on  the front of the dishwasher. The model and serial numbers are printed on  a label located inside the plastic tub on a tag near the left side of  the door opening. Serial numbers will start or end with one of the  following sequences: <br /><br /> 											 											 											 												   													 													   																	 																	 																	  SERIAL number <strong>STARTING</strong> with 																	  <strong>OR</strong> 																	   																	  SERIAL number <strong>ENDING</strong> with 																	 																	 																	  NW39, NW40, NW41, NW42, NW43, NW44,  NW45,<br /> NW46, NW47, NW48, NW49, NW50, NW51, NW52,<br /> NY01, NY02,  NY03, NY04, NY05, NY06, NY07,<br /> NY08, NY09, NY10, NY11, NY12, NY13,  NY14,<br /> NY15, NY16, NY17, NY18, NY19 																	   																	  JC, JE, JG, JJ, JL, JN, JP, JR, JT,  JV, JX, LA, LC, LE, LG, LJ, LL, LN, LP, LR, LT, LV, LX, NA, NC, NE, NG,  NJ, NL, NN, NP, NR 																	 																	 													   													 											 											 <a href="https://repair.maytag.com/prjjck10/index.jsp?siteCd=RCU_EN_US&amp;id=R173BV"><font color="#1b5795" size="2px"><strong><u>Click here to check if your appliance  is affected and schedule a repair or request a rebate</u></strong></font></a>  <br /><br /> 													 													 													 															 															  <br /><br /> 															  <a href="https://repair.maytag.com/assets/images/rcu/us/en/global/MDB5601AWB_COB.jpg"><font color="#1b5795">Download high-res image</font></a><br /><br /> 															 															 															  <br /><br /> 															  <a href="https://repair.maytag.com/assets/images/rcu/us/en/global/ADB1500AWW_COB.jpg"><font color="#1b5795">Download high-res image</font></a> <br /><br /> 															   													 													 													 											 											 													 													 													 													 													 																			 													 <font color="#1b5795">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Where  to find the model and serial numbers on your Dishwasher</strong>:</font><br /><br /> 													  <br /><br /> 													  <a href="https://repair.maytag.com/assets/images/rcu/us/en/global/dish_cavity_4.jpg"><font color="#1b5795">Download high-res image</font></a><br /><br /> 													 													 											 											<a href="http://www.youtube.com/user/MaytagCorp"><font color="#1b5795" size="2px"><u>Click here for a video showing how to locate your serial  number</u></font></a>  													 											 											<strong>Sold at: </strong>Department and appliance stores  and by homebuilders nationwide from February 2006 through April 2010 for  between $250 and $900.<br /><br /> 											<strong>Manufactured in: </strong>United States<br /><br /> 											<strong>Remedy: </strong> Consumers should immediately  stop using the recalled dishwashers, disconnect the electric supply by  shutting off the fuse or circuit breaker controlling it, inform all  users of the  											dishwasher about the risk of fire and contact Maytag to  verify if their dishwasher is included in the recall. If the dishwasher  is included in the recall, consumers can either schedule a free in-home  repair or receive a rebate following the purchase of certain new Maytag  brand stainless-steel tub dishwashers. The rebate is $150 if the  consumer purchases new dishwasher models MDB7759, MDB7609 or MDBH979; or  $250 if the consumer purchases new dishwasher models MDB8959, MDB8859,  MDB7809 or MDB7709. Consumers should not return the recalled dishwashers  to the retailer where purchased as retailers are not prepared to take  the units back. 					<br /><br /> 					 											<strong>Consumer Contact: </strong>For additional  information, contact Maytag at (800) 544-5513 anytime, or visit the  firm's website at <a href="https://www.repair.maytag.com/">www.repair.maytag.com</a>.  <br /><br /> 											 											CPSC is still interested in receiving incident or injury  reports that are either directly related to this product recall or  involve a different hazard with the same product.Please tell us about it  by visiting <a href="https://www.cpsc.gov/cgibin/incident.aspx">https://www.cpsc.gov/cgibin/incident.aspx</a>.<br /><br />  										  											<br /><br />   											 											<font color="black" size="2px"><strong>If you selected the rebate  option : </strong></font> 											 											 											<a href="https://rebatecenter.skybridgemg.com/run/Lookup?key=MAYTAG"><font color="#1b5795" size="2px"><strong><u>Click here to check your rebate status</u></strong></font></a>     </div>]]></content:encoded></item><item><title><![CDATA[New federal lead paint removal regulations]]></title><link><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/04/first-post.html]]></link><comments><![CDATA[http://www.nationwiderealtymanagement.com/1/post/2010/04/first-post.html#comments]]></comments><pubDate>Sat, 10 Apr 2010 15:24:51 -0800</pubDate><category><![CDATA[Uncategorized]]></category><guid isPermaLink="false">http://www.nationwiderealtymanagement.com/1/post/2010/04/first-post.html</guid><description><![CDATA[New federal lead paint removal regulations that go into   effect this month could be catching some contractors and apartment owners by   surprise.      The  [...] ]]></description><content:encoded><![CDATA[<div  class="paragraph" style=" text-align: left; "><font size="3"><span style="font-size: 12pt; font-family: Verdana;">New federal <span style="background: transparent none repeat scroll 0% 0%; cursor: pointer; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">lead paint removal</span> regulations that go into   effect this month could be catching some contractors and apartment owners by   surprise.<br />   <br />   The <span style="background: transparent none repeat scroll 0% 0%; cursor: pointer; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">Environmental Protection Agency</span>'s Renovation, Repair and Painting Rule   will take effect <span style="border-bottom: 1px dashed rgb(0, 102, 204); cursor: pointer;">April 22</span>. Contractors who work on homes, schools, and   day-care centers built before 1978 and who perform work that disturbs painted   surfaces will need to get EPA certification for lead paint removal by that   date or face fines of up to $32,500 per day. The legal liabilities of a   <span style="background: transparent none repeat scroll 0% 0%; cursor: pointer; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">property manager</span> that hires an unlicensed repair person will be huge. <br />   <br />   Projects less than 6 square feet inside a building and 20 square feet outside   a building are exempt. There are also record-keeping and   information- distributing requirements.<br />   <br />   A handbook on the regulations can be found at <a target="_blank" href="http://www.apartmentmanagementinsider.com/ME2/Sites/www.epa.gov/lead/pubs/sbcomplianceguide.pdf">http://www.epa. gov/lead/ pubs/sbcomplianc eguide.pdf</a>.</span></font></div>]]></content:encoded></item></channel></rss>

