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Delays in compliance could lead to legal actions from homeowners, insurance complications, and costly emergency repairs. In the wake of tragic balcony collapses, such as the 2015 Berkeley balcony failure , California legislators enacted Senate Bills 326 and 721 to prevent similar disasters.
Generate Passive Income and Build Long-Term Wealth Renting out your home can create a steady stream of passive income, which can help cover the mortgage, property taxes, insurance, and maintenance costs. Plus, property values tend to appreciate over the long term, helping you build equity and net worth effortlessly.
Many property owners hesitate to increase rent, either because it feels awkward to bring up or because they worry it might push good tenants out the door. At Authority PropertyManagement , we get itkeeping the peace with tenants is essential. Raising rent helps you cover these expenses without dipping into your profits.
Inspect properties for hidden issues, analyze financial records for stability, and align strategies with market trends. Use data-driven decisions to manage risks effectively. Implement efficient propertymanagement to minimize operational risks. This, in turn, contributes to increasing property value over time.
By The Hospitable Team OTAs With so many vacation rental booking sites, it's not easy to decide which of them you should list your STR property. Airbnb has long been a popular choice for hosts and propertymanagers as one of the largest OTA platforms, but there are also many smaller listing websites. Airbnb handles payments.
While no one can predict exactly when a rental property may flood, it’s important to prepare as much as possible. Kathy Grey, Manager at Real PropertyManagement Houston said, “The great Memorial Day flood of 2015 led to water damage in a rental property and a tenant wanting to be reimbursed when the whole lower level flooded.
This law applies to any lease executed, renewed or extended on or after 1st July 2015. However, this law exempts properties with less than five parking spaces or properties with subject to rent control. The tenant is required by the law to maintain a $1,000,000 lessee’s general liability insurance policy.;
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