NEW POOL RULES IN EFFECT

Pool drains have been responsible for serious injuries and drowning deaths due to a design flaw in which the suction caused by the pump and drain has entrapped persons. The Virginia Graeme Baker Pool and Spa Safety Act is now in effect governing public pools, which may require the retrofit of your existing pool to prevent future tragic pool accidents. December 18, 2008 is the deadline, and failure to comply can result in fines in the millions of dollars. Are you in compliance?  

Click here for an article by Vann Flippen.

Back to Top

FORECLOSURES REVISITED

We have had a solid 2 years of the most massive foreclosure rates in recent history. No property manager has emerged unscathed in this mess, as tenants are being served with foreclosure papers almost every day. There is so much confusion among property managers regarding foreclosures that we receive calls every day for direction. While we have written two articles on this in the past which appear on our site, this article will address the most common concerns and dilemmas facing the property manager whose owner is in foreclosure.

Click here for  more Foreclosure Q & A.

Back to Top

PARTIAL RENT ACCEPTANCE

Your tenant, who you believe is struggling financially, has been complaining about the air conditioner, which just does not seem to be working properly despite three service calls in a month. The tenant writes you a nasty letter, indicating he is only paying a portion of the rent because of the alleged problem and includes the partial payment in the envelope. You accept it. Now you are into the next month, and the tenant refuses to pay the balance from the previous month. What do you do now? 

Click here  for  info on Partial Rent Acceptance.

Back to Top

YOUR TENANT IS DENYING YOU ACCESS TO THE UNIT

The tenant calls your office and notifies you that a repair needs to be made. It is not an emergency issue, but the tenant is claiming that the air conditioner is not working properly. The situation then deteriorates; the tenant insists on being present when the repair is done, only to deny access or somehow never be available to accommodate the repair effort. You finally give up, and the repair is not made. The tenant subsequently fails to pay rent, and now you are in court where the tenant claims she did not pay the rent because you did not make repairs after notice. What just happened? You may have just lost the “repair game”.

Click here  to see how to deal with the tenant who denies you access.

Back to Top

LEASE QUICK TIP TENANT SIGNING LEASES FAR IN ADVANCE

Your prospective tenant signs a lease which is not to begin in 3 months. Is it valid? Yes, as long as it is signed by all parties and there is a meeting of the minds that a fully executed lease is in effect; the start date is irrelevant. If the tenant fails to move in or changes her mind before the lease start date, she is bound to an executed lease. A lease under which possession is taken in one week is no different than one under which possession will not be taken for 3 months.

Back to Top

COMMERCIAL LAW AND YOU - The Effect of Foreclosure on Commercial Property Tenants and Landlords (Part 2)

Last month we brought you the first in the two part series on foreclosures in the commercial setting. There appears to be no end in sight and possibly an increase in commercial foreclosures with a recession. Part Two addresses the interrelationship between the commercial tenant and the mortgagee having a mortgage on the subject property.  With mortgagees calling loans or enforcing certain rights due to our troubled economy, this is information that you must have.

Click here   to see if your lease addresses this unfortunate situation.
 

Back to Top

INDUSTRY LEADER OF THE MONTH - ELIZABETH TAYLOR RECCA

Elizabeth Taylor Recca is the Executive Director of the Space Coast Apartment Association, a Realtor and co-owner of Innovative Realty in Winter Park, FL.

Beginning her career in 1995 as a Leasing Consultant for ZOM Residential Services, Liz decided that this was the career path for her and continued to work her way up the corporate ladder with ZOM, ultimately creating a position within the company as the Operations Coordinator charged with conducting all on-site audits, due diligence, take over set-ups and other various tasks.  After 8 years with ZOM, Liz decided to move in a different direction, and in 2003 she became a joint partner with No Limits Property Solutions.  No Limits is a real estate investment company where Liz oversaw all home renovations, contractors, ordered all renovation material and much more.  In 2006 Liz obtained her real estate license, and later that year she and her husband Justin opened Innovative Realty, LLC, a full service real estate brokerage and property management company specializing in the management of residential property and small apartments in Central Florida.

Liz joined the Space Coast Apartment Association (SCAA) as its part-time Executive Director in May of 2006, and has had the pleasure of serving and growing the association, making it one of the most successful smaller apartment associations in Florida. Her energy, experience and enthusiasm have made SCAA a thriving apartment association, serving its members with great educational programs, benefits, legislative resources and an annual tradeshow.

Liz resides in Orlando with her husband and 2 year old daughter, and enjoys being with family and friends, spinning, reading and traveling.

Back to Top