For a lot of families, Thanksgiving is time for togetherness mixed with large amounts of stress. Whether you’re in charge of cooking the turkey or are simply circumnavigating family drama, the added responsibility of managing a rental property during the holiday makes for a unique situation. Take a look at some Thanksgiving-themed rental property horror stories and breathe a sigh of relief that your rental nightmares aren’t quite this bad.
If you weren’t aware of rent control legislation, now is the time to be active. Bills proposing rent control (as well as restrictions on eviction and criminal records) have become an alarming trend within the multifamily housing industry. Just last week, I went with other CIC™ tenant screening experts to Washington, D.C. to lobby on behalf of the National Consumer Reporting Association. Our big concern is that without access to eviction or criminal records, property owners and managers like you will not have the information to determine if a rental applicant is a risk or not. While plenty of owners combat potential risk by raising the rent or fees, if rent control measures pass, that option will no longer be accessible.
Unfortunately, states like California, Oregon, Illinois, and Maine have already been targeted by rent control activists – and it seems like this is only the beginning. Take a look to see what multifamily legislation has passed and failed this November, and what bills will likely be reviewed in the Spring of 2018.
We’re proud to announce that we’ve upgraded our Experian credit reports to include FICO® Score 9! FICO® Score 9 is now available for all CIC™ Experian credit report users. With the switch from FICO® Score 8 to 9, you’ll want to be aware that there will be a few changes to how your rental applicant’s credit scores will be calculated.
With the end of Daylight savings time on Sunday, November 5th, you’ll finally be able to get some much needed rest! Aside from Arizona and Hawaii, communities across the nation will have to set their clocks back by an hour this weekend. Make sure you take advantage of our handy (printable) checklist to remind your staff, coworkers, and even your residents of the time change.
Believe it or not, DNA testing tenant dog poop has been increasing in popularity with apartment communities around the country to deter residents from letting their pet’s mess litter their property. Tired of resident complaints, wasted landscaping time cleaning up after offenders and a decrease in curb appeal, property managers are flocking to these types of screening services…but is it really worth it?
Despite the substantial damages from Hurricane Harvey and Irma last month, renters across the U.S. are hesitant to pay for renters insurance. In fact, it seems like natural disasters do very little to convince renters to get insured. The Insurance Information Institute found in their poll that only 41% of renters had renters insurance in 2016 (amid raging wildfires in California and Tennessee, flooding in Louisiana, and Storm Jonas on the east coast). As a lot of residents may believe your property’s insurance will cover damages or theft, it’s all the more vital that you try to convince your renters to take precautions before disaster strikes.
Governor Brown has recently signed a “ban the box” employment bill into law. AB 1008 further restricts California employers’ abilities to use criminal records when making an employment decision. This not only affects your employment process and job application, but this amendment also affects your denial process (if based on the applicant’s criminal history).