Monday, January 31, 2011

Evicting for Housekeeping Issues

To evict a tenant for housekeeping issues, the condition of the unit must be BAD. That means it must be MORE THAN messy, full of stuff, or cluttered. A sink full of dirty dishes does not constitute a violation that rises to the level of a noncompliance with the lease or Florida law.

To terminate a tenancy for poor housekeeping issues, you first need to serve a proper Seven Day Notice of Non Compliance with Opportunity to Cure. A Seven Day Notice to Terminate might follow if you are able to prove that the housekeeping issues listed on the cure notice were not rectified and that the housekeeping is indeed a serious problem that affects the health and safety of others, or that it is damaging the property.


SOME PROOF THAT NECESSARY PRIOR TO TERMINATING THE TENANT FOR HOUSEKEEPING REASONS...Reprinted with the permission of the Law Offices of Heist, Weisse, Davis & Wolk


Contact a professional for management of your investment/rental property.
JCG Property Management is a Fort Lauderdale based property management company. Janice Correale Gomez is a licensed Realtor with Coldwell Banker Residential Real Estate. For additional information contact Janice at 954.847.1126 or visit www.fortlauderdalepropertymanagement.com

Sunday, January 30, 2011

Interest Bearing Security Deposits

Florida law states that if a security deposit is held in an interest bearing account, you have two options to deal with the earned interest.

The first option is for the tenant to be paid at least 75% of the annualized average rate. The second option is to pay the tenant 5% simple interest per year.

Are you familiar with the Florida law as it pertains to rental properties?

JCG Property Management is a residential property management company based in Fort Lauderdale, Florida. The company is owned and operated by Janice Correale Gomez, a licensed Realtor with Coldwell Banker Residential Real Estate located on the 17th Street Causeway. For additional information, visit www.fortlauderdalepropertymanagement.com or call Janice Gomez at 954.847.1126

Saturday, January 29, 2011

Rentals with Pets - Collecting a Pet Deposit

A pet deposit is by its nature refundable. If something is designated a pet deposit with no other qualifying language, that refundable deposit is for pet damage, and in the event there is no pet damage, the deposit gets refunded.

Are you familiar with the legalities of rent deposits. How and where they are held? Time frames they must be returned? How to claim monies from a deposit? If not, contact JCG Property Management, a Fort Lauderdale property management company. Run by Janice Correale Gomez, JCG Property Managment is a full service residential property management company. Janice Gomez is a licensed Realtor with Coldwell Banker Residential RE on the 17th Street Causeway. For additional information visit www.fortlauderdalepropertymanagement.com or phone Janice at 954.847.1126

Friday, January 28, 2011

Sales Tax and the Seasonal Rental

Seasonal rentals are quite common in Florida. Before taking on seasonal rentals,you must understand and follow all the laws set forth by the Florida Department of Revenue, or you could be in for some trouble. Recently, the Department of Revenue, hereinafter DOR, has increased its auditing and has been catching quite a few seasonal rental owners by surprise. Most of these owners who were in noncompliance did not fail to collect the taxes intentionally, but simply failed to know the law and made a mistake.

This article will address only a small part of the requirements regarding the taxes in seasonal rentals, and we will concentrate on the “non-rent” items which are taxable. Most peope, if asked, will know that the “rent” is taxable on a seasonal rental ,but the DOR goes a bit farther, and there are big traps for the unwary. If you find after reading this article that you have not been properly collecting the taxes, we recommend you contact your accountant right away and see what the best approach would be to avoid bigger problems, if and when you are audited. If you are audited and found to be in noncompliance, you will be subject to the back taxes, interest and penalties. Often the penalties and interest will be waived by the DOR if the mistake was unintentional, but the back taxes could be substantial.

JCG Property Management is a full service Fort Lauderdale property management company. In need of a property manager for your seasonal or annual investment property. Contact Janice Correale Gomez at 954.847.1126 or visit www.fortlauderdalepropertymanagement.com for additional information. Janice Gomez is a licensed Realtor with Coldwell Banker Residential Real Estate on the 17th Street Causeway.

Thursday, January 27, 2011

NON-RENEWING A TENANT AT LEASE END

DO YOU NEED A REASON TO NON-RENEW AT LEASE END?

A landlord can non-renew a tenant for any reason or no reason at all, as long as the non-renewal is not based upon any illegal, discriminatory or retaliatory reason. A landlord is not required to provide the tenant with the reason for the non-renewal. It is imperative that if there is a reason for the non-renewal, that the landlord has this well documented in the landlord’s files. Often a tenant who is non-renewed claims that the non-renewal was based upon race, handicap, familial status or almost any other reason related to their status as a protected class. In the event the tenant files a discrimination lawsuit, a complaint with HUD or the local fair housing office, the landlord will be required to provide proof that the non-renewal was not based upon an illegal discriminatory reason, but was rather based upon some valid business decision or due to the tenant’s noncompliance with the lease or Florida law

Reprinted with the permission of the Law Offices of Heist, Weisse, Davis & Wolk

Wednesday, January 26, 2011

New Vacation Rental in Daytona Beach - Ocean View

Are you planning to vacation in Daytona Beach. Perhaps planning for Bike Week or the Daytona 500. I have the perfect vacation rental for you. Just six miles from the Daytona Internation Speedway, this two bedroom, two bath is on the ocean. Over 2000 square feet of air conditioned space with ocean views from both balconies. Condo is comfortably furnished, kitchen stocked for at home cooking; linens and towels. A week minimum is required. Rates starting at $1200 per week and subject to 12.5% sales tax and $100 cleaning fee.

For additional information visit www.vrbo.com/339205 .

JCG Property Management is owned and operated by Janice Correale Gomez.
Janice Gomez is a licensed Realtor with Coldwell Banker, located on the 17th Street Causeway. Visit www.fortlauderdalepropertymanagement.com for additional information.

Tuesday, January 25, 2011

Creating a Procedure for the Eviction Decision

Creating a procedure for the eviction decision
 
There is no set date on which you should file an eviction. Usually rent is due on the first, late charges begin on the 6th.  The decision to file is often based upon market conditions, prior rent payment history, and unfortunately, the promises or statements made  by the tenant. While many tenants will often come through and pay the rent, there will be many instances when they will deceive you, and now you are into the next month.

A property manageer will professionally handle all aspects of the eviction process.  For additional information, contact JCG Property Management, a Fort Lauderdale based property management company. Janice Gomez is a licensed Realtor with Coldwell Banker Residential Real Estate on the 17th Street Causeway. Visit my website at http://www.fortlauderdalepropertymanagement.com/  or call at 954.847.1126.

Reprinted with the permission of the Law Offices of Heist, Weisse, Davis & Wolk

Monday, January 24, 2011

Fair Housing to Include Sexual Orientation

Fair housing’ to include sexual orientation
WASHINGTON – Jan. 21, 2011 – The U.S. Department of Housing and Urban Development (HUD) proposed new regulations intended to ensure that its core housing programs are open to all eligible persons, regardless of sexual orientation or gender identity.
“This is a fundamental issue of fairness,” says HUD Secretary Shaun Donovan. “We have a responsibility to make certain that public programs are open to all Americans. With this proposed rule, we will make clear that a person’s eligibility for federal housing programs is, and should be, based on their need and not on their sexual orientation or gender identity.”
HUD is currently seeking public comment on a number of proposed areas including:
• Prohibiting lenders from using sexual orientation or gender identity as a basis to determine a borrower’s eligibility for FHA-insured mortgage financing.
FHA’s current regulations protect some classes, saying a loan decision “shall be made in a uniform manner without regard to” specified prohibited grounds. The proposed rule would add actual or perceived sexual orientation and gender identity to the prohibited grounds.

• A clarification to the term “eligible families” for HUD programs, stating that the term should not ban anyone based on marital status, sexual orientation or gender identity from participation in HUD programs.

• Prohibiting owners and operators of HUD-assisted housing, or housing whose financing is insured by HUD, from asking about sexual orientation or gender identity of an applicant. HUD is proposing to institute this policy in its rental assistance and homeownership programs, which include the Federal Housing Administration (FHA) mortgage insurance programs, community development programs, and public and assisted housing programs.
Previous HUD actions
• HUD is conducting the first-ever national study of discrimination against members of the lesbian, gay, bisexual and transgender (LGBT) community in the rental and sale of housing.
• HUD currently requires discretionary fund recipients to comply with local and state non-discrimination laws that cover sexual orientation or gender identity. The Fair Housing Act prohibits discrimination in rental, sales and lending on the basis of race, color, national origin, religion, sex, disability and familial status. Approximately 20 states, the District of Columbia and more than 150 cities, towns and counties have additional protections that specifically prohibit such discrimination against LGBT individuals.
The complete report – Equal Access to Housing in HUD Programs – Regardless of Sexual Orientation or Gender Identity – is available online in PDF format.

© 2011 Florida Realtors®

Thursday, January 20, 2011

Rental market on upswing in South Florida

Rental market on upswing in South Florida

As foreclosures and falling home values continue to slam the local housing market, the forecast for rentals is improving
BY TOLUSE OLORUNNIPA

tolorunnipa@MiamiHerald.com

In the three years since Dan Cordtz moved to his one-bedroom apartment above Mary Brickell Village, a slew of restaurants have opened up, young professionals have swarmed the area and a New York-style street market has livened up South Miami Avenue on Sundays.
But the neighborhood's blossoming has come with a price tag: As Cordtz's lease at Camden Brickell was about to expire last month, he got a letter from his landlord saying his rent would be increased by 29 percent, or $358 each month, when he renewed.
``It struck me as being odd, given what I know about the market in Miami, that they would feel free to impose these increases,'' the 83-year-old native New Yorker said.
In a housing supply-demand tug of war being pushed and pulled by falling home values, hard-to-come-by credit and a foreclosure tsunami, rentals could be the only upward trend in South Florida's battered housing market this year.
Rising rents are unwelcome news for the everyday consumer, already struggling with stagnant wages and a turbulent job market, but some economists believe they foreshadow a tail end to the housing crisis.
A collection of recent research portrays a rental market that is likely to improve this year, even as most other housing measures -- foreclosures, home values, new construction -- are forecast to worsen.
``Significant increases in rents at upper-class properties will raise market wide rental rates modestly,'' a fourth-quarter market report from real estate firm Marcus & Millichap said. ``In the [high-end] segment, vacancy has fallen [in 2010], and operators continue to leverage modest improvements in renter demand in several submarkets to raise rents.''
According to that report and others published recently, South Florida's rental occupancy rate is nearly 95 percent, and that number is expected to continue to increase as the economy improves. Rental rates, which fell significantly during the housing crisis, are expected to increase 2.3 percent this year in Miami-Dade County and about 5 percent in Broward.
``When the economy got to its worst point, a lot of younger renters ended up either doubling up or moving back home, and that took a lot of renters out of the market,'' said Kirk Felici, vice president and regional manager at Marcus & Millichap's Miami office. ``Now as the economy starts to [improve], we're seeing some of those renters come back.''
As failed condo projects turned to renters for relief, young professionals flooded submarkets like Brickell and downtown Miami, where leasing activity is up about 11.5 percent in the last year, according to a study by the city's Downtown Development Association. Across Miami-Dade, occupancy was up slightly in 2010, with rent prices increasing about 2 percent to an average of $990, according to the Marcus & Millichap report.
Based on highest rent prices and occupancy rates, the healthiest market continues to be Miami Beach, where the average unit rents for $1,367. The occupancy rate there is about 96 percent.
In Broward, rent prices are forecast to increase 5 percent as occupancy rises 1.6 percent this year, according to Texas-based MPF Research.
Cities like Coral Springs and Hollywood saw prices increase last year, and analysts predict they will lead the way in Broward's rising rental market this year.
Rising rent prices are generally regarded as a sign of an improving economy, but for renters who have gotten used to special deals from landlords desperate to fill units, they can be a nuisance.

This article was pusblished in the Miami Herald on January 17, 2011.

JCG Property Management is a Fort Lauderdale property management company that offers services with rentals, sales and purchases.  Janice Gomez is a licensed Realtor with Coldwell Banker Residential Real Estate located at 910 SE 17th Street in Fort Lauderdale.  For additional information please visit my website at http://www.fortlauderdalepropertymanagement.com/ 



Wednesday, January 19, 2011

Evictions and Proper Execution of the Writ of Possession

Properly Executing the Writ

The proper execution of the Writ of Possession is crucial to a successful and completed eviction action. The key word here is completed. Many landlords make serious mistakes at the end of the eviction action, increasing the liability to the landlord and potentially defeating the whole purpose of the eviction action. Most evictions result in the tenant vacating the premises within a week or two after the eviction action is filed with the court, and many landlords have never experienced the execution of the Writ of Possession. (Reprinted with the permission of the Law Offices of Heist, Weisse, Davis & Wolk).
 
JCG Property Management, a Fort Lauderdale Property Management Company, can assist you in effective management of your rental property.  If  in doubt, use a professional. Property Management services also offered to the part time home owner. Call or contact us for additional information . 
 
JCG Property Management is owned and operated by Janice Correale Gomez, a Realtor with Coldwell Baker Residential Real Estate, 910 SE 17th Street, Fort Lauderdale, FL  33316
Services include rentals, sales, purchases, leasing and property maintenance.
Janice Gomez can be reached at 954.847.1126 or www.fortlauderdalepropertymanagement.com
 

 

Tuesday, January 18, 2011

Short sales spike across South Florida in 2010

MIAMI – Jan. 17, 2011 – The number of homeowners completing short sales rose sharply across South Florida in 2010, following the release of government guidelines designed to simplify the process.

But real estate agents and housing analysts say other factors besides the new rules have largely driven these transactions over the past year.

Many potential buyers have steered away from foreclosed homes since foreclosure freezes began last fall, concerned that the deals would be delayed or canceled while lenders investigated possible wrongdoing by so-called robo-signers. As a result, banks have been more willing to approve short sales.

Even without the effect of moratoriums, lenders have warmed up to short sales, realizing they can dispose of properties more quickly and make $30,000 to $50,000 more per sale than they could by foreclosing on a home, said Peter Zalewski, principal at CondoVultures.com, a Bal Harbour-based consulting firm.

“My experience was very positive,” said Fernando Incarnacao, 54, who recently arranged a short sale on his three-bedroom Parkland home. “I’m very happy with the outcome. Now I can kick back.”

He owed about $321,000 and hoped to avoid foreclosure, so he listed the home with real estate agents Michael Citron and Rosy Baron. They worked with lender U.S. Bank to complete a $230,000 deal that closed Jan. 5 after less than four months.

There were 16,767 short sales in Palm Beach, Broward and Miami-Dade counties last year, up 49 percent from 2009 and 437 percent from 2008, according to CondoVultures.

In a short sale, the homeowner gets approval to sell the property for less than what’s owed on the mortgage, and the lender typically forgives the difference.

The transactions are seen as a key to reducing the massive inventory of available properties, which will go a long way to solving the nation’s housing woes, now heading into a sixth year.

The most recent figures from Zillow.com show that roughly four in 10 single-family mortgages in South Florida are worth more than the homes, making short sales one of the only viable options for “underwater” homeowners who need to move.

In the past few years, though, sellers and buyers complained that lenders took several months or longer just to consider short sale offers. Frustrated buyers walked away during the delays, and properties lingered on the market, prolonging the housing slump and the recession.

To address those concerns, the U.S. Treasury last spring introduced a voluntary program called Home Affordable Foreclosure Alternative, which included a series of guidelines governing short sales.

The rules call for lenders to approve or deny offers within 10 business days. Also, sellers, loan servicers and investors who own the mortgages receive financial incentives for completing the deals.

Sellers don’t have to repay any of the remaining debt and also get $3,000 in moving expenses. Servicers get $1,500, while investors owning the first mortgage receive a maximum of $2,000 for allowing up to $6,000 of sale proceeds to be distributed to less senior mortgage holders.

The guidelines were supposed to take effect by April 2010, but some lenders didn’t start following them until the summer, Treasury spokeswoman Andrea Risotto said.

“It’s still pretty early in the program’s life,” she said.

Some real estate agents remain skeptical.

Terry Story, a real estate agent for Coldwell Banker in Broward and Palm Beach counties, said the Treasury program hasn’t meant anything to her clients.

“I haven’t heard of any success stories with it,” she said.

Douglas Rill, an agent for Century 21 America’s Choice in West Palm Beach, said lenders seem to be approving more short sales because they realize it makes good business sense. Also, he said, a new automated computer system that banks use is expediting the process.

Joe Kohn, a Fort Lauderdale lawyer, agrees that some banks are getting better at executing short sales. Still, no lender that he has worked with on a transaction has stuck to a 10-day deadline.

“There’s no 10 days,” Kohn said. “That’s not how it happens.”

Two of the nation’s largest lenders insist they follow the government guidelines.

A spokeswoman for Chase said in an e-mail the lender does respond to bona fide offers within 10 days “under normal circumstances.” Bank of America responds “well within 10 days” for short sales approved under the program, spokeswoman Jumana Bauwens wrote in an e-mail.

But not all homeowners who want to complete short sales qualify for the government program. If a property isn’t eligible, lenders aren’t subject to the 10-day deadline and don’t receive the incentives. In those cases, deals still tend to drag.

First-time buyer Martin Austin said he offered $84,900 for a two-bedroom villa last fall in Boynton Beach.

Austin said the lender, Bank of America, didn’t respond for more than 80 days. When it did, the bank said it wanted more money for the house – $104,000 – and the deal collapsed, Austin said.

Bauwens said the property wasn’t eligible for the short sale program, but she denied it took so long for the lender to respond.

“I was in shock,” said Austin, a 49-year-old waiter, standing outside another short sale nearby that he expects to close on this month. “If I would have known, I would have told my Realtor, ‘No short sales.’“

Copyright © 2011 Sun Sentinel, Fort Lauderdale, Fla., Paul Owers. Distributed by McClatchy-Tribune Information Services.


Florida Realtors® Headquarters - Orlando: (407) 438-1400
Office of Public Policy - Tallahassee: (850) 224-1400

Monday, January 17, 2011

Fair Housing Law

Did you know:

The fair housing laws are very clear: it is unlawful to discriminate in the terms and conditions of a rental based on a person’s race, color, religion, sex, national origin, familial status, or handicap.

If in doubt, contact JCG Property Management to handle your  rental properties.

For further information visit my website at http://www.fortlauderdalepropertymanagement.com/

Thursday, January 13, 2011

A Proper 3 Day Notice is Crucial to a Successful Eviction

A Proper Three Day Notice is Crucial to a Successful Eviction

 

Are you playing landlord and not certain about the proper notices used to evict a tenant for non payment of rent?  JCG Property Management,, owned and operated by Janice Correale Gomez, offers complete property management services to the investor or out of state property owner. 

 

Simplify your life and allow a professional to do the job for you.  For rates and additional information,  visit my website at

http://www.fortlauderdalepropertymanagement.com/

 

Janice Correale Gomez, PA

Realtor/Property Manager

Coldwell Banker Residential RE

910 SE 17th Street

Fort Lauderdale, FL  33316

954.847.1126

 

Wednesday, January 12, 2011

Fort Lauderdale Beach Rental

I am in the process of refurbishing a 2 bedroom, one bath condo at 200 S Birch Road.  Unit will be available for occupancy February 1, 2011, is newly painted throughout, new carpet and new flooring in kitchen.  Sliding doors to balcony with view of the ocean.  Condo is managed by Janice Gomez,  Property Manager with Coldwell Banker.  Visit my website at www.fortlauderdalepropertymanagement.com for further information on property management services.

Janice Correale Gomez, PA
Realtor/Property Manager
Coldwell Banker Residential RE
910 SE 17th Street
Fort Lauderdale, FL  33316
954.847.1126
www,fortlauderdalepropertymanagement.com

Sunday, January 2, 2011

EXCLUDING BANKRUPTCY PROTECTION IN A LEASE

EXCLUDING BANKRUPTCY PROTECTION IN A LEASE

Rental Management News Clip:





Many of our clients want us to place a clause in the lease that provides in the event the resident files bankruptcy, the landlord will be excluded from the effects of the bankruptcy, and that the resident cannot use the bankruptcy as a way to stop or suspend paying the rent. Sounds like a great idea but it is not possible. If it were possible, then every creditor would have this type of clause in their contracts. These clauses are completely unenforceable. All landlords take a risk that their residents may file bankruptcy, and there is simply nothing you can do about it. If you receive notice that your resident has filed bankruptcy, call your attorney immediately.


 


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