I found this little article and video on McKinley Village interesting – Let’s go take a look!
Keith Klassen, Real Estate Broker
In a past blog post we explored the benefits and disadvantages of keeping a tenant while trying to sell. As noted in that post, most know that a 60 day notice must be served when tenant has lived at the property for over a year (12 months), when not on a lease. If on lease, then the lease trumps all, except cash of course. This is another discussion, but a tenant can always agree to move if paid to do so – many know the phrase from the bank owned property days, “cash for keys.” This question was asked recently, “When a tenant is not on a lease, they’ve lived there for over a year, and I want to raise the rent… do I have to give them a 60 day notice? Or will a 30 day notice do?”
Answer: If the increase is less then 10% of the rent, then 30 day notice will suffice. If the increase is more than 10%, then a 60 days notice is needed.
Rents are going up in Sacramento and there is always a decision to be made between keeping up with rents vs. keeping a tenant. If you do not raise rents a little bit over time, the shock of a one time, big raise will certainly drive a tenant out. Other would argue that a good tenant is hard to find and is worth keeping, even if it means leaving their rents low. I find including a note with the rent increase stating how much you love them as tenant… how you want to keep up the maintenance, and how expenses have risen… this seems to take some of the sting away. I do believe in keeping good tenants, and surely the cost of re-renting, the cost of making the place ready to rent, and potential vacancy may not be worth the extra $30-50/mo.?
What’s your strategy and experience in raising rents?
Keith Klassen, Real Estate Broker
Klassen & Associates / 916.595.7900
Most of us are completely distracted on a day-to-day basis, and for good reasons. There are so many options for eating and entertainment, new restaurants and things to do abound. In Sacramento, CA we live surrounded by beauty, history, rivers, and a quick ride to the coast or Lake Tahoe. We have more contact and connection opportunities via social network than every before. As a father of two boys, now 11 and 13 years old, my wife and I give much thought to this idea of focus – being present and not distracted; Being attentive and giving attention. I fail miserably at times, nodding to my son’s/wife’s questions while doing some work or reading, only to ask, “What did say?” And maybe acknowledging, “Uh, I’m sorry, I wasn’t listening/paying attention.” Specifically in the realm of technology, distraction lurks. Many forms of technology can be wonderful tools and has made our lives better on so may fronts. I cut myself some slack here – 10 thousand songs in my pocket and a world of information at my finger tips. How can we not be distracted! Technology clearly has an addictive quality that can work against our productivity, our relationships, our attentiveness.
I was stunned by a TED talk (a bit older now) that highlights studies showing how technology (including primarily video games and pornography) have become an addiction. He makes the point that boys, in particular, are not maturing and intimacy is lacking. Watch the clip. It’s less than 5 minutes. “What’s the solution?” Zimbardo asks, “… not my job. I’m here to alarm…”
I too have no solutions, but I have a few thoughts. I’m a guy. I have two boys. My boys play video games, and I partake at times. I have a computer, laptop, iPad, iPhone… I’m concerned.
Ahhhh, it’s a constant battle, but feels so good when we get intimate, centered, and fully engage.
What are your areas of struggle and victory in this area of focus, technology, family? This is where we help each other. Please share.
Keith Klassen, Real Estate Broker – 916.595.7900
Okay, I know the title is a bit misleading, but how else will I get your attention? Ha ha… just a quick update on my building project. The sewer lines, manholes, fire hydrant, and water main have gone in and have passed the inspections! Now to get the sidewalks, curbs and gutters in (Update: Just got text from my contractor yesterday and said they poured concrete! “check”). Next week, repaving the street. Then maybe we’ll build a few houses if I’m lucky. Stay tuned.