WINTERIZATION

Ever dealt with a broken pipe? Water gushing effortlessly out of a brick wall and not sure why?

Not having winterized your outside water spigots could be the issue. How do you avoid this dilemma? Easy. Turn OFF all interior water valves to your exterior faucets. OPEN exterior faucets and leave them open during the winter. Detach and drain all of your outside hoses.

You can go one step further during very low temperatures and increase the warm air circulation in the house by opening interior doors, as well as cabinet doors under the sinks, especially when your water lines are next to exterior walls.

In the event of a burst water line, immediately TURN OFF the interior main water valve and report the problem to your plumber…or your property management company.

Home Buyer Credit

President Obama signed the new tax credit into extension today. A few key changes:

1) DATES: extended through contracts ratified April 30, 2010, and CLOSE June 30, 2010;
2) First time homebuyers: $8000 or 10% of sales price, (whichever is less);
3) Existing home owners: $6500
4) INCOME: single: up to $125,000 to max of $145,000; joint: $225,000 with max to $245,000
5) SALES prices capped at $800,000

GOOD LUCK!! I am here to assist!

Katja Hom

Renting Your Property – Part II

Consulting a professional management company often eliminates possible issues with tenants at a later time. Too many owners develop relationships with tenants, not realizing that this might cross the path of keeping business and leisure separate.

The most common question owners ask when consulting a real estate professional: I have tenants living in my property and they stopped paying the rent. What do I do?

Well, got to do something! Hiring a lawyer might be the more important step at this point. Incorporating a professional management company will provide immediate assistance with the possible cleaning and prep work, so the house may be placed back on the market and new tenants can be found.

The annual cost for hiring a professional management company is rather minimal compared to hundreds of dollars you might spend trying to evict non-paying tenants. Like most things in life – we don’t see the benefit until it might be too late. Don’t wait for that to happen, act today and consult with a management company preferably in close proximity to your rental home.

Website to consult prior to employing a property management company:

www.narpm.com