Rental Property Going Into Foreclosure? What Tenants Need to Know

Have you received notice that the home you rent is going into Foreclosure? See below for information that may ease some of the worries…

So you come home one day to find in the mail a letter regarding a Notice of Trustee Auction. This letter states all the legalese regarding the home you rent being put up for public auction. What this means is that the current owner of the home is in default of their mortgage payments to such an extent that the bank is willing to sale the home to another buyer to recoup their costs. What does this mean for you as the tenant?

The natural thing to do is freak out thinking you have to move immediately. It is not the case that you have to vacate before the auction date. Actually, it is quite the opposite. There are federal laws that give guidelines about tenants staying in rental homes after a Foreclosure. Most specifically, the main federal law is titled “Protecting Tenants at Foreclosure Act of 2009” (PROTAFA). This law protects tenants from being evicted from rental homes sold at a Foreclosure Auction. It allows the tenants at least 90 days to find other living arrangements before eviction proceedings can commence. Furthermore, if there is a lease in place at the time of the auction, tenants may be able to stay the remainder of the lease term, unless the buyer of the property intends to occupy the home for at least a year. Tenants on the Section 8 Housing Voucher program and those in rent-controlled cities are also protected by this Act.

Another option that is available after a Foreclosure is known as “Cash for Keys.” What this means is that the tenants are offered a sum of cash for moving out quickly and turning over the property. Some tenants choose to take this offer to help move them into a new place.

Regarding your security deposit after a Foreclosure, there should not be any need to worry about getting it back. The new owner is held just as liable for returning the security deposit to you as the old owner. The old owner can make deductions from the security deposit as legally allowed, remit the remaining amount over to the new owner, and provide you with a list of deductions. Some owners may just transfer gaziantep rus escort the whole security deposit to the new owner and let them handle the disbursement once you eventually move out of the home. Any way that it happens, you should rest assured you will get your security deposit back minus any necessary, legal deductions.

If you would like to read more on topics I have discussed regarding being a tenant during a Foreclosure, you can visit,,, or

Tablets in Real Estate

Discover the pros and cons of tablets in the real estate industry…

A few years ago, the iPad came came onto the scene. All conversations regarding tablets began and ended with the iPad. Apple’s first debut of the device in 2010 quickly became the most popular solution due to a combination of interfaces, apps, and fascinating features.

This year, Apple is headlining the way for tablets but the race is getting closer with new contenders. Tablets powered by Google’s Android OS are gaining shares and fans alike, while Microsoft is launching out new devices as well.

With options expanding for the tablets, how do you know which is best for you? From various surveys, both the iPad and Nexus will work for most real estate and property management companies. Both have an expansive set of apps to choose from, and the number keeps growing into the hundreds of thousands each year. Each app has a main function to help with your day-to-day work. The Surface from Microsoft does have some beneficial qualities, such as a detailed display and the ability to use Microsoft Word and Power Point. However, the down side is that it is relatively new, in the early stages of development, and only has about ten thousand apps available. It also boasts a huge storage capacity, but most of that is taken up by the operating system.

For people who look at price first when buying, you should consider the Nexus. This device has a 7 inch screen, can be bought in the low hundreds, and has access to over seven hundred thousand apps. In comparison, the iPad mini is a couple hundred over the asking price of the Nexus, but features an 8 inch screen, and eight hundred thousand apps.

The ideal use of a tablet is to replace other productivity tools (such as a computer, phone, and camera). Granted, the tablet has only been around for three years, and the have come a long way in storage space, size, data capacity, etc. But they aren’t quite versatile or powerful enough to replace your computer. If you have Wi-Fi access for your tablet, you can use it to prepare presentations for potential owners, look up information on your property server, and find/share information with other employees. It is great for notes, and content entry at best.

However, don’t just look at the negatives. By spending a little extra money here and there you can add some tools to enhance your tablets use. You can buy keyboards with Bluetooth connections to make it easier to type. A case will allow you to easily carry a tablet, prop it up, and keep it gaziantep escort bayan covered. A stylus can enable you to write on the screen to enter notes faster. Last but not least, are the apps that come with the tablet. There are apps that calculate costs, create move in/move out reports, provide rental estimates, easy access to online storage, schedule appointments, and scan/sign documents.

While smaller devices are easier to carry than something the size of a book or chair, larger ones make it easier to read and watch videos. The best way to find the right tablet for you is to head to your local electronics store and try them out for size.

8 Ways to Stay Ahead of the Curve

Learn to gain control over your time while getting the job done.

As a broker and property manager, there doesn’t seem to be a quiet moment around the office for you. You are always hearing,” You have a minute?”, or solving inner office conflicts with the employees. Most managers find that their schedules control them instead of the other way around. For them, it results in late hours at the office, discord at home, stress and other problems.

Those who have the most difficulty handling their time are those who try to take everything on themselves. The main key here, that any successful manager will tell you, is it’s all in how you manage yourself. If you can manager yourself, you will start seeing results in control, time, tasks, and employees. Here are 8 Ways to Stay Ahead of the Curve.

  1. Create office systems: Create a system that can help your team work better and more efficiently. By having a checklist, for example, is a small way to start setting up a system so everyone knows what needs to get done and who does it.
  2. Use time blocking: Make appointments for things you need to get done. No matter how small or insignificant it may be. Having time set aside to do it will enable you to get it done. This also works with family time – just set aside 2 hours a day, every other day, and you will become more efficient with managing your time appropriately.
  3. Create resources that answer questions: having a binder of frequently asked questions will help your sales team with their questions. It helps people know that there are other resources, other than you, to help answer their questions. Sometimes they can find answers to their questions faster then if they were waiting on you.
  4. Texting: Have your employees text you a question instead of waiting for you to get to the office. This saves office time for you and gets them the answer they need while out on the job. You can also utilize email and voicemail to rely messages and to let employees know you are out of commission for a certain amount of time. Most of the time, your employees will figure the answer out by themselves if they are left to their own devises.
  5. Allow your associates to solve their own problems: Every manager wants to be a good manager and sometimes they feel the need to solve every problem their associate puts in front of them. But what most managers fail to realize is that you need to train your associates to trust their instinct and to utilize other resources to answer questions.
  6. Have backup: When you are out of the office, make sure to have a trusted employee to oversee operations while you are recouping. You want to make sure you put in charge someone who likes to be involved and are respected by others.
  7. Schedule time to think: No, seriously. Some of the greatest thinkers know that having a time set to think is the best thing you can do for yourself. It doesn’t have to be for 5 hours or even 2 hours. As long as you set aside at least an hour to go over new ideas, and to analyze old ideas, you will thank yourself.
  8. Commit to your personal time: Don’t become so busy taking care of business that you don’t have time to take care of yourself. You may have to force yourself to leave your cell phone behind, or to be home by 5:30. You can do a lot of damage if you do not take care of yourself.

What Today’s Renters Really Want

What are today’s renters really looking for? What do they expect, and where are they living? This infographic dives deep into today’s rental market.

By the year 2015, the number of renter households in the United States are expected to hit an all-time high of 46.8 million, According to Rachael Wachstein. It’s estimated that huge numbers of these new people renting homes will be Millennials.

Along with this growth in the rental property market, there will come increased competition in the property management industry. It’s imperative for property managers and rental property owners to maintain their rental homes, and present them to potential renters as inviting and appealing in order to stay on top of the rental market.

As a professional property management company in Fairfield, CA, Real Property Management Select works hard to provide quality rental properties to renters on the search for a place to call home. Our systems have been proven for 25+ years, and we have numerous clients who are willing to back that up. Hiring a professional property manager can save you thousands in costly mishaps and mistakes. Give us a call for a Free Consultation.

Check out this infographic published by RPM for some great information.

What today's tenants really want.

What today’s tenants really want.