No Comments

What Property Managers and Tenants Need to Know About Lead Paint

Keeping rental properties up to date and tenants safe in their units should always be a focus for property managers. One of the most overlooked aspects of a rental can be the paint. Many people do not know the difference between lead paint and safe paint that we have today. You cannot tell just by looking at a wall, whether the paint is safe or not. If a property manager owns property built before 1978 the lead paint risk is incredible. Even if the walls have been painted over many times, the lead-based paint layer underneath is still toxic.

The consequences of Lead-Based Paint

There are an estimated 24 million homes in the United States that may have lead-based paint or lead paint dust. Lead-based products were banned by the federal government in 1978 because of the poisonous effects of lead, especially in children under the age of 8. Lead poisoning is linked to irreversible brain damage, behavior problems, learning disorders, nervous system damage and even cause IQ to drop. Young children are the most susceptible to these symptoms while adults may experience cardiovascular effects, kidney problems, and infertility.

Removing Lead Paint

If a property manager or tenant suspects that there is lead-based paint in a rental unit, they should not attempt to renovate or remove the paint themselves. A tenant should make a maintenance request to the property manager and the manager should hire an RRP Certified professional to remove the paint if the paint does test positive for lead. Tenants should not be in the rental while renovations are taking place as the lead paint dust is also toxic and should not be breathed in. An RRP certified professional will remove the dust from the renovations. Scott Properties is dedicated to the safety and well being of our tenants and offer full disclosure for any properties that may have a lead pain exposure risk.

No Comments

Property Management and Pets

Property Management and Pets

There are over 71 million households in America with pets. This amounts to 63% of households. Half of renters have pets and 35% of people don’t have pets solely because their landlords will not allow them. Property Management Companies often love dogs, cats and other pets personally, but they have to ensure that having pets on properties is not a greater liability that it is worth for them as far as insurance is concerned. There are also many local ordinances that control the number and breed of pets that renters and homeowners alike are allowed to have. Here are the things a property management company has to take into consideration when deciding whether or not to allow pets.

Cost and Profit

Many renters are willing to pay more money in rent to be allowed to have their pets. Property management can decide to have some rentals be pet-friendly rentals which come with a higher rent, and other be non-pet friendly rentals. Pet rent and pet deposits can also be charged which can add income for a property owner and cover any damage the pet may cause. Pet-friendly properties usually rent twice as fast as others and the retention rate is also much higher.

Property management can also require that all tenants carry renters’ insurance and that people with pets have to have a clause covering injuries and damage done by the pet. Property owners also have to check their home owner’s insurance. Many insurance companies will not allow for certain breeds or weight and sizes of pets. In these cases, unless the property management company changes insurance companies, their hands are tied when it comes to pets. Sometimes, allowing dogs on the property can make insurance costs increase which will mean possibly higher rent or deposits for future and present tenants.

Service Animals

Service animals are not pets and there are federal laws in place that require property management companies to allow for registered service animals. Emotional support animals are not covered under these laws.

If you have questions about the pet policy with Scott Properties, Contact us today!

No Comments

Questions to Ask Yourself When Hiring a Property Management Firm

Becoming a landlord is easy today. Anyone with a decent credit score can buy an old house, fix it up and flip it or rent it. Many investors choose to rent those fixer uppers to bring in disposable income every month. However, once an investor gets on a role of buying and sprucing up homes, they may find themselves in over their heads with trying to be a landlord and also an investor. This is where a property management firm can come in handy. If you are trying to determine whether or not you should go with a property management company such as Scott Properties, ask yourself these questions:

  1. 1. Do You Live Near the Property? 
  2. The further away you live from the property the more time and money it will take to travel there frequently for maintenance issues inspections,
  3. showing and marketing the property and much more.
  1. 2. Are You Good with Stress? 
  3. It takes a special kind of person to deal with the constantly phone ringing, tenant issues, and collections that come with leasing a home to someone.
  4. Can you handle a confrontation with or between tenants? Sometimes, in order to live our best lives, we must leave the stress to a professional.
  5. 3. Are You Feeling Overwhelmed? 
  7. Sometimes people jump into things quickly without realizing what they are in for and can get overwhelmed. If you are already feeling this way about your property(s) the extra help in managing your rentals may be what you need to bring your blood pressure down.
  8. 4. Are you Good with Record Keeping and Accounting? 
  9. There are a lot of numbers involved in renting. A property management company has accountants that will handle your taxes, rent collection, debt collection, payroll, and invoicing. This can be a huge burden off of a property owner’s shoulders.

Hiring a property management company is usually the best choice for people who own multiple properties, live in another state than the property, or just don’t have the time or energy to deal with the stressors of renters. Scott Properties has years of experience in the industry and may be the right choice for your property needs.