Warren Buffett on Housing

Recently on CNBC, Warren Buffett stated that he would buy “millions” of single family homes if he had the means to manage them. The more interesting comment he made during his interview was that houses will be a better investment than stocks over the long term. A powerful comment coming from a person who built his business (and fortune) selling securities. Click Here to preview. Warren Buffet didn’t mention that banks lend money on real estate but not on stocks. Given today’s historically low interest rates, and property values well off their 2007 peaks, there may never be a better time to invest in real estate. Keep in mind that we are a full service Real Estate and Property Management firm. Our team is available help you in this whole process. Call now, 925-706-9000

OWNER BEWARE OF TAX REFUNDS! Did you know it's tax time? Well a lot of rental applicants do. Many applicant tenants come around this time of the year promising to prepay rent. This may seem to be a great opportunity for a Landlord, however it can be a future problem in disguise. When the tenants prepay their rent, it can often be found that the majority of them do not save enough for the rent that will be due in 4 or 6 months. We recommend that you protect yourself by following some simple procedures. For one, make sure you qualify the Tenants work history, and consistency of income. This should help determine if they truly are capable of prepaying their rent and still be able to manage their money for future on time rental payments. For more guidance and information, please contact our office at 925-706-9000.

Care For Your Investment Home

We are here to assist you with managing your investment property! Learn more about our services at our website. We take care of the headaches for you! www.select1realty.com

It's Winter - Tips to prevent Mildew

This time of year, with the cold temperatures outside and moisture building up in the bathroom from regular usage, all of us at Select 1 Realty want to assist our tenants with minimizing mildew. Mildew is a living organism and the video will show that using bleach and a small brush will help to kill the mildew.  Please view this short video clip to see how you can clean and maintain your bathroom: http://www.youtube.com/watch?v=eUM3iknJUgk&feature=results_video&playnext=1&list=PL900F8A25B2180DA5. 

Role of Property Manager

According to Wikipedia, one important role of a "Property Management" is that of liaison between the Owner of Record and the actual tenant/leesee tenant. Providing a buffer for those owners who are desiring to distance themselves from their tenant constituency. Duties of property management generally will include a minimum of these basic primary tasks;

A. The full and proper screening or testing of an applicant's credit, criminal history, rental history and ability to pay.
B. Lease contracting or accepting rent using legal documents approved for the area in which the property is located.
C. Mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.

There are many facets to this profession, including managing the accounts and finances of the real estate properties, and participating in or initiating litigation with tenants, contractors and insurance agencies. Litigation is at times considered a separate function, set aside for trained attorneys. Although a person will be responsible for this in his/her job description, there may be an attorney working under a property manager. Special attention is given to landlord/tenant law and most commonly evictions, non-payment, harassment, reduction of pre-arranged services, and public nuisance are legal subjects that gain the most amount of attention from property managers. Therefore, it is a necessity that a property manager be current with applicable municipal, county, state and Federal Fair Housing laws and practices.

For assistance with your Property Management needs, please contact Select 1 Realty at 1500 A St. Antioch, CA 94509.  Phone: 925.706.9000 Fax: 925.706.7735

Winterizing Your Rental Home

Seven Tips for Winterizing your Rental Unit

You may not think that those small cracks and crevices around your doors and windows are a very big deal. But, did you know that a 1/8″ space between a standard exterior door and its threshold is equivalent to a two square inch hole in the wall? According to Lowe’s, closing those gaps can save you up to 15% in heating and cooling costs. Not to mention it will keep your new tenants warm and happy!

1. Unplug unused appliances
   Turn off and unplug any appliances that do not need to stay on (i.e. washers and dryers); many appliances draw power even when they aren’t being used. FYI: Refrigerators are one of the biggest energy wasters.
2. Turn the heat down
   Unless you have potential tenants viewing your unit, set the thermostat to 55 degrees. However, don’t set it lower than 55 degrees – your chances of freezing water pipes greatly increases if you set your thermostat lower than 55 degrees!
3. Caulk is easy
   On a windy day feel for drafts around doors, windows and exterior walls near the floor, electrical outlets and plumbing. Seal these spaces with caulk and weatherstripping to ensure that you’re not wasting energy on heat that escapes through leaks outside. Caulk works best on small gaps. For larger gaps you may want to use self-adhesive foam or your local hardware store consultant may have other suggestions.
4. Threshold seals are easy too
   If drafts sneak in under exterior doors, you can either look into replacing the threshold or if that’s not practical look to insert a threshold seal. You should try to buy one that fits the opening exactly, if possible. Otherwise, buy the next size up and cut it to fit your door. You can find these at your local hardware store.
5. Remove window air conditioners
   During the winter, remove window air conditioners. It is very likely that heat is escaping through and around the window unit.
6. Replace or clean furnace filters once a month.
   Dust and dirt can quickly clog vital parts, making your furnace run harder, using more energy, and eventually breaking down.
7. Use plastic window kits to insulate your windows
   In the winter, storm windows can reduce your heat loss by 25-50 percent. If your rental unit doesn’t have storm windows you can improve the windows temporarily with plastic sheeting installed on the inside.