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The Americans with Disabilities Act for Landlords And Property Managers

The Americans with Disabilities Act, commonly known as “ADA” is a federal civil-rights law protecting the rights of people with disabilities. The ADA places guidelines for access to: Employment State and local government programs, services and buildings Access to places of public accommodation such as businesses, transportation, and non-profit service providers Telecommunications George Bush signs the Americans with Disabilities Act of 1990; standing left to right Reverend Harold Wilkie, Sandra Parrino of the National Council on Disability; seated left to right, Evan Kemp, Chairman of the Equal Employment and Opportunity Commission, George Bush, Justin Dart, Chairman of the ‘s Committee on the Employment of People with Disabilities. Washington DC, USA, 26 July 1990. (Photo by Fotosearch/Getty Images). The scope of the law is fairly broad and addresses many of the obstacles affecting the participation of people with disabilities within society. Many of the ADA’s civil rights protections parallel the Civil Rights Act of 1964, and the protections it established for racial, religious minorities and women. Occasionally, management companies may be faced with a lawsuit for non-compliance with ADA laws.  These compliance problems are usually preventable as many times they result from violations which stem from the lack of proper guidelines, policies, procedures, and/or practices regarding accessibility. Implementing current policies can go a long way toward avoiding the expense associated with ADA lawsuits. As owners, landlords, managers, and tenants can be jointly and severally liable in the event of non-compliance. Making it important to ensure you have safe practices in place to address......
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Want to Be a Real Estate Investor? Try Starting Here!

Being a real estate investor is one of the leading wealth creators in the United States so many of us want to know how to become the next great real estate investor. Some have bought books and watched videos on how people have made their fortune in the industry, others have applied what they know works in their business towards real estate. I have learned over the years that there truly is no better way to learn the real estate industry than simply going and being part of a property management team. PLUS….you are getting paid to learn! By being part of a property management team, you can learn everything you should know from marketing, maintenance, leasing and operations. When you find a company that you feel is a good fit for you, sit down with the management and tell them that you want to learn everything from top to bottom about real estate investing from them and if they seem receptive to your idea then jump in and prepare to learn. I would recommend you start at the bottom and work your way up. In their leasing department, learn how a vacant unit is prepared for market. Price the unit and then learn how to advertise the unit to the right individuals. After you have spent enough time in leasing look into moving to an assistant manager position, while in this position learn the ins and outs of the daily operations of the property and how you can increase the R......
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What Happens When You Default On A Loan You Personally Guaranteed?

In addition to the property securing a loan, a personal guarantee is also used a promise or agreement to hold you personally liable for a debt.   By personally guaranteeing a loan, in addition to the property as collateral for the loan, the Lender also has recourse against you personally. They can go after other assets you own under these terms.  Lenders prefer these types of loans. It gives them something of value more than the asset, which has the loan against it. It also gives them more security.  It lets a lender feel you will take better care in managing the investment to ensure its success. The personal guarantee will typically not come into play unless the asset which is foreclosed upon, will not cover the liability/outstanding balance due the lender.   This balance can be substantially higher than the loan balance, as it also typically takes into account the penalties, accrued interest, and legal fees a lender may incur. In some cases, you can discharge your liability for a personal guarantee by filing for bankruptcy relief (unless the guaranteed debt itself is non-dischargeable). However, keep in mind the bankruptcy will need to be a personal  bankruptcy to potentially eliminate any personal guarantees, and not just a bankruptcy for the asset. If your personal guarantee includes a security interest in your personal assets, the lender will typically have a lien on your property. A bankruptcy discharge may only wipe out your personal obligation to pay back debts. It doesn’t eliminate liens. This me......
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Grow Your Real Estate Wealth: Forced Appreciation vs Market Appreciation

Multifamily InvestmentAppreciation is one of the biggest and most exciting ways to create and increase your wealth as a real estate investor.  It can occur naturally or you can “force” appreciation by choosing the right properties and managing them the right way.  Best of all, when you do this, you don’t have to be a speculator to take advantage of these increases in value and you can still enjoy all the other benefits of real estate investing such as cash flow and the tax benefits.  Increasing the value of investment real estate is the number one way that millionaires are made in real estate. Appreciation is the increase in value of your real estate investment over time.  When the value increases, the investment is said to be appreciating.  It can occur two ways.  The first is through Market Appreciation, and the second is through Forced Appreciation. Market value increases occurs when the overall market goes up.  You might have experienced this in the past when prices of homes in your neighborhood started increasing and sitting on the market for shorter periods of time when put up for sale.  In cash flow producing real estate, most properties experience market increases when rental rates and occupancy start going up across the market.  Gradually, as rents and occupancy increases, so does the income of the property.  When the income goes up, the value of the real estate can increase exponentially. Market increases tends to occur more rapidly on the coasts of the United States where values will rise and fall ......
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