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San Antonio Property Management Blog Bexar County Appraisal District Values have been released

Tue, 02 Jun 2020 05:13:25 GMT

Bexar County Appraisal District Values have been released

2020 has been a challenging year for us all. In our part of San Antonio, COVID-19 has meant some challenges for tenants to pay rent, job losses and the new normal of home schooling and practicing Social Distancing. Last week we experienced an EF-1 Tornado touch down followed a few nights later with a hail storm. And being that it is late spring, another Texas tradition has come around. The release of 2020 assessed property values be Texas Counties!

I have often heard that the only two things in life that are guaranteed are death and taxes. Unlike most other states, Texas definitely puts an emphasis on these property values as Texas does not have a state income tax. In addition to sales tax, the property tax is the largest tool we have to collect funds to operate schools, hospitals, fire departments, city government, county government and state government.

A lot has been made of the fact that our property tax percentages have not increased however property values have increased so you will still see an increase in taxes. Bexar County released it's 2020 valuations last week. We are already looking at 2020 proposed values against 2019 actual assessed values. For all of the properties we manage, in all but 3 cases, those values increased.

The reason that these values continue to increase year over year is that our San Antonio market still remains strong. Our average home sales price in Bexar County was $265,000 at the end of March 2020 with an average sales price of $125 per square foot. Compared to the same time in 2019, the average home sales price at the end of March was $249,996 with an average price per square foot of $119. Our average Days on Market for March 2020 was 65 compared to 61 at the end of March 2019.

Our next step for our owners we manage for is to evaluate if the values exceed the true market value of the property. If so, then we will file to protest the values and supply our documentation. The deadline to protest is June 29, 2020. This is just another no cost benefit w provide for our owners to help them maximize the return of their properties.

While we believe in paying our fair share in taxes, we don't want to pay more than what the property should be valued for. Much has been discussed for a state wide appraisal system since each of Texas's 254 counties must determine how they will assess property values. Stay tuned for more and let's hope the rest of 2020 isn't near as crazy as the first half!

What the new normal looks like

Thu, 16 Apr 2020 05:18:49 GMT

What the new normal looks like

Now that we are settling into a more "normal" rhythm of work and home life blended, we can look back over the last few weeks and see what the true impact has been to property management in San Antonio and across the country. We are participating in many national conference calls through the National Association of Residential Property Managers and we are seeing a trend.

In most cases 88-92% of tenants of residential rental property tenants were able to pay their rent on time. The remaining either paid their rent within a few days or were able to make partial payments. As of the date of this blog, most management companies are off by about 5% from total collection of rents. Those outstanding rents are most likely going to be paid this month according to most survey respondents.

The true test will be what May looks like for renters. With stimulus checks arriving now and some people starting to receive unemployment benefits, it looks like there is some stabilization in the economy for now. Hardest hit were those residing in apartments. The National Apartment Association is reporting that only 70% of tenants were able to pay on time.

As for housing values, those are expected to remain strong. We were already in a housing shortage and interest rates remain low. Even for those forecasting increased foreclosure rates in 6 months, that is not be accompanied with a forecast for a dip in housing values.

For now, stay safe and we will update everyone as we learn more.

Virus survivial

Tue, 24 Mar 2020 17:43:46 GMT

Virus survivial

A lot has changed from just a couple weeks ago. Bexar County will enter a 10 day shut down to help curtail the spread of COVID-19 and many are struggling to to find clarity in this situation. Many are asking how will I pay my bills? How will I be able to feed my family with shortages at the stores? What if I get sick? What if one of my loved one's gets sick?

No one has the answers we are looking for right now. As a small business owner I try to make sure our employees are doing ok, that our tenants are ok and that the owners that we work with are ok. All I can do is simply reach out and communicate. But given this imposed slow down, that may be one of the most necessary parts of surviving the pandemic. To simply communicate.

I could tell you about our policy adjustments and programs we are trying to launch but in the end, people need to know they will get through this. Take the time to call a loved one. Allow yourself to enjoy your family. Take this time to look inward and determine that if you wanted to change your life, what would it look like.

I am no self help guru to be certain. Just sometimes from events like this, we need to take from them what we can and move forward. To be sure, this is not a fun time for anyone. People are understandably stressed about things over which they have no control. Just breath, and think about what life will looks like after this passes. And simply communicate. Be safe and take care of yourself and look forward to getting through this will all of you.

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Another Renter's Commission meeting update

Tue, 11 Feb 2020 20:51:36 GMT

Another Renter's Commission meeting update

Yesterday another Renter's Commission Subcommittee Meeting was held at City Hall. This time they presented the responses from the previous meeting which I covered in the previous blog. It was surprising or maybe not so much to see how the subcommittee presented the findings.

The goal of the of the Renter's Commission per the committee is to increase renter representation on City Boards and Commissions. It is also the goal per the committee to elevate renter's issues in citywide discussions. Examples of other commissions presented included Seattle, WA, Portland OR and San Francisco, CA. This time the committee however did acknowledge that within the San Antonio Housing Commission which already exists there is a similar committee performing similar roles with 2 of 5 seats held by renters.

As the meeting continued prior to additional comment, it was determined that there were 3 other committees operating within the city through which they could already assign oversight. What was most concerning was the committee's presentation of previous meetings (Jan 22, 2020) public comments.

Remember that I said only 1 tenant had been present to speak up versus dozens of landlords, property managers, Realtors, etc. Here is how that was translated:

-Desires for better representation of renters

-Desires for more "pro-renter" policies

-Desires for a mix of renters, landlords and others to be part of a possible Renters Commission

-Concerns about Seattle model and the recommendations from that commission

So even though only 1 person spoke to the first 2 items, that weighed heavily on this presentation. Afterwards it was time for public comment and again it was all landlords, property manager, Realtors, etc. This is not a fight that we will stop engaging in until our voices are heard. Tenants desire fair treatment and decent housing but not at the exclusion of landlord rights as well.

It appears that the Housing Committee is looking t o create this commission but we will continue to be your voice. I will keep you posted on developments and let you know how we are doing.

Resident Commission for City of San Antonio Update

Mon, 27 Jan 2020 20:52:48 GMT

Resident Commission for City of San Antonio Update

I had an opportunity to speak last week with a city council proposed commission that is investigating the need to to establish a Renters Commission in order to put protections in place for residents in San Antonio. At this hearing, other property managers, Realtors, the president of the local board of Realtors, landlords and attorneys that represent landlords all spoke. It was a full house with comments limited to 2 minutes for each speaker. Public comments went on for over an hour. Out of all the speakers, only 1 was a tenant and one other was a proponent of the possible commission.

The concern on behalf of those involved in managing and owning properties is that this commission was proposed to be made up solely of the tenants and initial reports were that this may be modeled after commission established in Seattle. Here are some of the Seattle Renters Commission Policies that were implemented there:

-No evictions can be filed in winter months (November through March) to help prevent homelessness.

-Rent Control so that you cannot arbitrarily raise rents

-You cannot consider an eviction that is older than 3 years

-You have to accept the first app in that meets the minimum standards. You could not compare multiple applications to get the best applicant possible.

Because of our organizations like the National Association of Property Managers and the Texas Association of Realtors, we are able to mobilize to make our voices heard. Besides just taking care of the maintenance issues, finding tenants, collecting the rent and the other day to day responsibilities, it is also my job to make sure your voice is heard as a landlord.

From the lone tenant and other proponent, it became clear what people often think about landlords. That we have a lot of power and money and don't care about anyone else. All property managers believe all parties should be treated fairly. Happy tenants pay rent ontime and take care of the property. Happy landlords make sure properties are well taken care of and are nice for the tenant. We work to create a win-win situation. In further discussion, it became clear that if a commission was formed, all we want is a seat at the table so your voice can be heard.

In the end, no commission was formed although the city council will continue with additional due diligence. We will stay in front of this subject and look forward to updating you in the future!

Happy New Year now let's get time to business

Mon, 06 Jan 2020 20:56:16 GMT

Happy New Year now let's get time to business

We hope you had a Merry Christmas and a Happy New Year! Now that everyone is getting back into a normal schedule, it is time to think about what you want to achieve for 2020. For us, that means looking to improve our property management systems so that we are more efficient. We want to ensure that our property management services focus on not only property maintenance but also property enhancement.

Property enhancement? We have come to recognize that by taking care of the simple stuff on a periodic basis, we set the stage for how the home will be treated but also helps improve the overall appearance and value. Simple items include light tree trimming (keeps the trees off the roof), changing out aerators (helps avoid plumbing repairs), painting the front doors a nice contracting color ( gives your home character and improves curb appeal) and more.

We are investigating a new subscription method as well so that air filters are delivered to the home on a monthly basis so we can ensure filters are being changed out. This would be a tenant expense so we are doing our due diligence to be respectful of budgets but so far the feedback we have gotten has been positive.

We are also looking at marketing exposure. We continue to lease properties quickly because of our focus on using pro photos for marketing. We also are still showing 7 days a week and evenings to increase our chances of finding a great tenant. As of this blog, we have one vacant unit but are averaging a showing a day. Not bad for the first week of January.

Overall, we are excited about the opportunities for 2020 and will keep you posted on the progress!

Planning for 2020

Tue, 10 Dec 2019 20:57:29 GMT

Planning for 2020

It seems like 2019 has flown by. With only a few weeks left in the year, we are taking this time to plan more effectively for 2020. Besides looking at what went right and how we reached certain goals, we also want to find out where we failed and why.

By looking at our failures, I have often found that I get more long term results than just celebrating the wins. Like the old Thomas Edison saying, he didn’t fail hundreds of times in trying to perfect the light bulb, he simply figured out the all the ways the light bulb wouldn’t work. In learning from his mistakes, he eventually developed a product that remained relatively unchanged for a century.

In reading “Atomic Habits” by James Clear this past couple of weeks, the take away is to look at your mistakes and make incremental changes to succeed. There rarely is one giant moment where everything pivots but most likely the sum of many small changes.

For our San Antonio property management company, the other challenge as highlighted by Clear is to develop consistent systems. When processes follow a consistent system, it is much more likely to yield positive predictable results. Much like our screening process, we do not deviate from our standards because those results are almost always positive.

Some of our next goals are to make our systems more water tight. In respect to our inspections, move ins and marketing, we could still stand some improvement. That is where our systems come into play. We use Asana for project management and Evernote as well plus Google Drive but there is always room for improvement. When you start with improving the system that in turns leads you to hitting your weekly, monthly, quarterly and annual goals. Best of luck in your 2020 planning and putting those systems in place.

Following the Scout Motto

Mon, 02 Dec 2019 20:58:14 GMT

Following the Scout Motto

It goes without saying that being involved in Scouting as a youth played an important role in my upbringing. I learned the Scout Motto “Be Prepared”, the Scout Law, the Scout Oath and many other important life doctrines. I went on to earn the Eagle Scout rank, earned by less than 4% of all who enter Scouting. I point this out because even to this day the rules and lessons I learned then still apply.

I was explaining our philosophy over the Thanksgiving Holiday for property management and I found myself extolling the Scout Motto. Essentially, we are supposed to be prepared for when things go wrong. Unexpected work orders, a tree falling, dealing with vacancies, working on payment arrangements, etc. We develop plans for dealing with the unexpected before the emergency hits. Then we can be more effective because we have a plan already.

When we used to camp out, the rule was “Leave noTrace Behind”. In other words, leave the camp site not only like you found it but better. Pick up the trash that others left behind. Look for ways to make the experience better for the next person.

We apply that principle now when one tenant moves out and before the next tenant moves in. We try to address simple maintenance items so that we avoid more costly issues later. How? We clear a/c condensate drain lines, we make sure smoke alarms are current, we change out aerators on faucets, we add caulking to better insulate the home, we trim bushes and trees and more. And because we can do these things in house, we generally can accomplish these items at minimal costs.

As I work with my son who has earned the Life Rank and is just a few requirements shy of his Eagle Scout rank, I see he is also internalizing these lessons. I look forward to seeing how he will put those lessons to work as an adult. You never know how what we learn as kids will help guide us as adults.

Veterans Day rememberance

Mon, 11 Nov 2019 20:58:59 GMT

Veterans Day rememberance

Today I wanted to simply say Thank you to all those that have served our country! Whether you are Active Duty or have retired, your sacrifices for this country are appreciated. My dad served in the United States Navy from 1967 to 1971 serving as a jet mechanic for F4 Phantoms and on occasion A7's. While he did not engage in active combat, I know that there was still the sacrifice of time and being away from his family. That being said, we owe a great deal of thanks to the families that provide the essential support to our military personnel.

Enjoy your appreciation today and Thank you for your service!

The need for tenant insurance when you rent

Mon, 28 Oct 2019 19:59:47 GMT

The need for tenant insurance when you rent

We have been seeing a lot in the news recently regarding tragic events that impacted a number of home owners and tenants. From the multiple tornadoes that hit Dallas a couple of weeks ago to the devastating fires affecting California. Flooding is another constant threat as well that everyone needs to be aware of when we get those storms dropping inches of of water in a matter of minutes.

For homeowners it is tough enough to make sure you have the right insurance coverage from floods to wind driven damage to fire. In the end though, if you are a tenant, the landlord's policy is not going to cover your belongings in the event of a fire, flood or other damage. Most people assume that the landlords policy will cover them but that is not true. Besides being required in your lease to maintain a renter's insurance policy, it is a just a good way to protect your belongings. It allows you to pick up extra coverage for your really valuable items that may not have enough insurance coverage under a base policy.

The costs of these policies is relatively affordable, maybe just a couple hundred bucks a year. And for that additional insurance for jewelry, art work or other expensive items, it costs a little as maybe $5 per month. And imagine if you have your car broken into, your renters policy will step in to cover those items stolen.

In the end, take a little time to shop around. These policies can be bundled with your car insurance for multi line discounts and for more streamlined serviced. Don't wait, take steps now to protect your belongings and you will be glad you did.

How to protect your rental property

Mon, 16 Sep 2019 20:01:18 GMT

How to protect your rental property

I was having a conversation with a landlord recently discussing his new property here in San Antonio. This landlord I learned had served in the service, retired with a good pension and had been fiscally responsible. Including the property here in San Antonio, he owned properties throughout Texas and beyond totaling 5 units. When we got to the topic of insurance on the property and what our recommendations were, the conversation took an interesting turn.

I mentioned to the owner that he would want to update his insurance agent on the home and make sure that coverage extended to this new property through his Umbrella Policy. It was then that he asked me what an Umbrella Policy was. I had assumed he already had one in place because these policies are easy to attain and cheap as well. I was glad to go into depth on the topic as it is one of my favorite tools for landlords.

Essentially, once you start acquiring assets, anyone can become a stronger target for a lawsuit. Obviously if you are broke and don't have anything, you probably aren't going to be sued. Even if you have very little but the perception exists that you have money or assets, then you have more liability. That is where the Umbrella Policy comes into play.

This policy essentially steps in to help provide legal representation should you be sued and if you are found negligent and damages are awarded, then the Umbrella Policy would step in. For example, if I were to get in a car wreck and hurt someone, if the judge and or jury award a settlement to the people I hit, the policy would cover that judgement up to the policy limits. I point out this example because it has nothing to do with my investment properties but I am still protected. When a potential lawsuit could be brought, one of the first steps the plaintiff attorney is going to do is see if you potentially have assets. It is not that hard to find those assets so you need a level of protection.

Companies like State Farm, Farmers, Allstate and just about anyone else will provide an Umbrella Policy. My recommended policy limits are roughly $1,000,000. That policy will run less than $500 annually in almost any cases. And I recommend that you purchase an Umbrella Policy when you buy your first investment property. As a property manager, one of my primary responsibilities it help owners mitigate risk while maximizing cash flow. I have found the Umbrella Policy to be a great tool in lowering exposure to risk.

All in all, if you don't have one yet, get one. It takes just minutes to add it to your policy coverage and can be a lifesaver in a difficult situation!

Summer A/C Maintenance tip

Mon, 09 Sep 2019 20:02:11 GMT

Summer A/C Maintenance tip

When it comes to summer heat, Texas is as dependable as it comes. Nothing like 20 plus consistent days of 100 degree heat with Heat Indexes making that feel more like 105!

We have seen more and more work orders coming in for a/c systems failing to operate. Most times these systems just crash due to the high work load being placed on them. However other times it is something simple we can all do.

Everyone knows that San Antonio is known for it’s hard water. Just like a clogged coffee pot or other piping, your a/c system can get clogged as well. If your system is unable to drain out all that condensation, it will eventually shut down so that it does not create more problems.

In property management or even in your own home, the best fix is prevention. By pouring a cup of bleach down the clean out tub for your a/c, not only are you cleaning it out but you are also clearing out any possible obstructions. It is easy to do and takes but just a few minutes.

Is a Home Warranty Worth It?

Mon, 19 Aug 2019 20:02:51 GMT

Is a Home Warranty Worth It?

We handle work orders day in and day for our properties and most of the time the repairs are fairly simple. And most times owners will ask if they should keep a home warranty for more extensive repairs including those that include plumbing and HVAC? We always say it depends.

First, you have to evaluate how old the home is and the major mechanical components such as the a/c system, water heater, appliances, etc. If these items are less than 5 to 10 years of age, then we are going to recommend no. Even if they are older than that, the answer may still be no.

The biggest reason we say that you may not want to use a warranty is the cost. In most cases, owners will feel that the $500 to $700 they spend annually will help offset any major repair costs and they are safe. The truth is that many times, the warranty is going to still charge a deductible of $65 or more to file a claim and then they will not cover most of the expense for permits, modifications if required to make a repair and freon. And because we have no control over the contractors selected, we often are dealing with companies that don't deliver the best service.

Recently, we went 3 contractors trying to get an a/c serviced in August in Texas!. After a week we just opted to go ahead and bring in our contractor to get the job done and done right. The warranty vendor was going to charge $80 per pound for freon after the warranty company contributed just $10 per pound. Plus they had office hours of Monday through Friday from 8am to 3:30pm. That is not much of a service oriented company.

In the end, you may still end up paying just as much through the warranty and have more issues. In our experience, skip the warranty and save the deductible and the annual premium.

Summer Heat in San Antonio

Mon, 12 Aug 2019 20:03:34 GMT

Summer Heat in San Antonio

It’s that time again…. Summer Heat time! With this extreme heat we are experiencing, now is the time to make sure you are being proactive with your a/c maintenance. We have probably another month of temperatures being at or over 100 degrees with the heat index so best to be prepared.

First and foremost, make sure you change those a/c filters monthly. Your systems ability to run smoothly and efficiently hinges on being able to breath well. When the filter gets clogged with dirt and debris, your system has to work harder to cool the air. When your system works harder it makes it more prone to break down because of the added stress.

The next step is to keep that outside unit clean. Like the a/c filters you replace inside the home, it is important to keep those fins cleaned. This you can accomplish with just a water hose and pressure nozzle. By gently cleaning the fins, you are removing accumulated dirt and debris from between the fins thus allowing the unit to run smoother. This can be done every 3-4 months.

While still not a cure for everything that could affect your system, these simple tips can keep your unit from freezing up or not running properly. Have a happy rest of the summer and remember to stay hydrated and cool!

The Rental/ PCS Season is upon us

Wed, 06 Mar 2019 21:04:16 GMT

The Rental/ PCS Season is upon us

Well, it is almost this season. Season for rentals that is. We see more properties starting to hit the market for lease between March and August since this is also the time most people are looking to move. In San Antonio, we could almost call this PCS Season since so many military are receiving orders.

One of the most common questions I receive when meeting with people preparing for PCS is what can I do to get my home ready and what is the time frame to hit the market. The first is pretty easy. Schedule a time for us or the property manager of your choice to come check out the home to make true recommendations.

Neutral paint colors are always a strong choice but beyond that, the flooring and other items are either going to pass muster or need to be replaced. If replacement is recommended, we have the vendors in place to replace the carpet usually at significant savings. Also, since you are already going to be stressed on move out, we recommend letting us have the property professionally cleaned including the carpets and we can be reimbursed at a later date. Again, our costs are going to be significantly less than what you think.

The other part of that question in time frame. We recommend meeting with a manager 60 days out from your move date so that 30 days out, there is the option to begin marketing the home to find a tenant. We want to minimize the downtime for you so getting on the market is crucial.

So when the time comes and you get orders and need to rent out your home, let us know. In addition to focusing on Northwest San Antonio for property management, we also offer military management discounts to help save!

How is the San Antonio market for buying real estate?

Mon, 25 Feb 2019 21:05:11 GMT

How is the San Antonio market for buying real estate?

We have been receiving a lot of inquiries recently from clients we manage for asking how the market is doing in Bexar County and Texas overall. They are concerned as there are rumors and nation wide indicators of a market slow down in real estate. Those concerns are understandable but need to be put in context.

Owning a piece of real estate for investment of even your home is a little bit like owning stock. The value could move up or down and sometimes you will have minimal control on which direction it will take. However, when you plan for the long term, you will find that real estate is a solid investment.

First, Texas and Bexar County do no follow the trends of the East and West Coasts. We don’t experience 10-15% appreciation rates year over year and then swing south when the market drops. What has happened in Bexar County is when the market slows, our market simply levels out. Why? On average, our appreciation rate remains at 2-2.5% annually for market appreciation.

Given that we don’t have wild market swings up, we don’t see the market slide back fast either. When the market slowed in 2008 through 2011, property values did not necessarily always go backwards but what we saw were people over leveraged on homes with 103-107% financing and had no equity. No matter market conditions are, not having an equity position is always risky.

Now Second, like Dave Ramsey would say, invest in what you understand and know. If you can’t understand it, don’t do it. We work with a lot of investors to purchase properties in areas that are consistent performers. Our office understands what it takes to manage and rent properties in Northwest San Antonio and Bexar County and that is what we stick with. We know the markets for resale, rents and long term investment strategy. If you always focus on buying in a solid area, attaining an equity position when you purchase and positive cash flow, you will do well.

So to recap, when asked if the market is changing, my answer is that it could be slowing down but that does not mean that real estate would not be a strong investment. By focusing on the areas we know and sticking to our basic three criteria for investing, it’s hard to find a time when it is not a good time to invest.

If you have an interest in property management or investing in San Antonio let us know and we would be happy to answer any questions you have.

Are First Impressions really that Important?

Tue, 12 Feb 2019 21:05:53 GMT

Are First Impressions really that Important?

As we continue to build our business of helping people looking for property management services in San Antonio, we took the next step to add a Maintenance Technician. The idea was to have an employee that would provide more oversight of any needed repairs to the properties we manage but at a lower cost.

The problem never existed that the repairs on homes were expensive or that we didn’t have great vendors that helped. We just wanted to do more for the owners that trust us to take care of the properties.

It was an eye opening experience in what people are prepared to do to do a good job. As we scoured through dozens of resumes, it was crazy how many had misspelled words or a lot of missing data. Some people couldn’t even present a resume but instead would send messages as if it was a text!

Next came the phone interviews. Some people would be polite and present well while others could barely speak. After many false starts, we got to the in person interviews. This was the really interesting part.

This position is entry level but pays well, has 401k with employer match, cell phone allowance, clothing allowance, health care, bonuses and company vehicle. People were showing up late or unprepared. Some were dressed like they were getting ready to mow the yard. Shirts untucked and dirty pants where not unusual by this point. After many candidates though we found one whose appearance, demeanor and work ethic really shined through.

We will be introducing him shortly but what really stuck with me was that he had a desire to get things done right and understood our philosophy. We are being trusted to manage properties to the best of our abilities and he wanted to be part of it. At the end of the day it was simple. Show up when it is time to and work like your name is attached to it because it is.

We are proud to strive to be an outstanding Property Management firm in San Antonio and take the steps needed to help our property owners save money and maintain their properties. Look for more ways we protect our owners coming soon!

Is it smart to Update my home while the tenant is still there??

Mon, 04 Feb 2019 21:11:23 GMT

Is it smart to Update my home while the tenant is still there??

Whether as an investor or an accidental landlord, the time will come when you are ready to sell your property. Regardless of whether it is to reinvest in a new property or you never intended for your home to be a long term rental, you need to be aware of how to get top market pricing for your property.

Many times, we take on a property for property management and it looks great. The property flooring is clean and well kept, the appliances are nice, the cabinets and counter tops all show well and the home overall has a nice appearance. Fast forward 10 years later and now you want to sell. The problem is that during that time, those white appliances aren't really super stylish and the polished gold fixtures the builder installed now seem a little dated.

The problem isn't that the home is in bad shape, the problem is the home looks like it did 10 years ago but now with 10 years worth of wear. The main problem with selling a home that has been rented isn't really the condition, it is often the lack of updates.

We aren't telling you that you need to spend money right now on granite and wood floors and top of the line appliances. What we are recommending though is to do your planning. If you think in a couple of years you may want to sell, talk with your property manager about what updates need to be added to get a strong value. If you bought your home from the builder and it has white appliances and laminate counter tops, if the price warrants it, you may want to start saving for granite and stainless steel. When the sales start coming around major holidays, that might be the time to buy those appliances since you will get discounted installation and free delivery.

The return on the investments? We generally will see a 125% return on flooring, counters and appliances. On top of that, you will have decreased time of on market saving on property taxes and insurance. Add in new flooring and paint and you are in even better shape.

Unfortunately, with all of the HGTV shows we see, many buyers just don't have the vision or the patience to do the jobs themselves. We are seeing people paying more to get the home they want rather than the home that needs updating.

Your property manager should always be able to assist you in making the right long term investments when it comes to repairs and updates. And because of the volume most companies do with vendors, you should be able to get a great price!

How does your Property Manager keep your properties safe?

Mon, 28 Jan 2019 21:12:03 GMT

How does your Property Manager keep your properties safe?

As a property manager, part of our job is to not only make sure we manage the property for strong revenue, but also make sure we mitigate any situations within our control that could create liability for a property owner. For example, when a home is leased in Texas, it needs to be made fully compliant with Property Code 92. Regardless of whether the property is managed by a Realtor, a company or an individual, the same laws apply.

Property Code 92 was designed by the state of Texas to ensure basic protections for Tenants regardless of the city or county in which the property resides. Some of these basic protections include rekeying the property every time a tenant vacates the property. No matter is that was voluntarily or through an eviction, it has to happen.

Also, the home needs to have not only a keyed locking deadbolt for exterior doors, but also a interior locking mechanism that cannot be activated from the outside. Obviously that could be a keyless deadbolt, but also a half moon shaped clasp the tenant could use or other acceptable lock. There must also be a peep hole at the front door unless it has a window in the front door.

Another component of Property Code 92 is that the home needs to have smoke alarms. At each vacancy, before a tenant moves in, smoke alarms are tested and inspected. Most people do not know that alarms have an expiration and are only good for 10 years. Plus as building codes shift, they need to be added in bedrooms, living areas and the kitchen. We use a bonded and insured company to inspect our alarms and verify they are in full working order and compliance.

And now, for additional protection on properties we manage, we are going a step further to help protect your property. Starting Feb 1, 2019, all homes that come into our management pool or become vacant from here on forward, we will be adding Carbon Monoxide detectors. Although not required by Property Code 92 or Bexar County, we have determined that this added step will help provide additional protections to the homes we manage. And because of our concern for protecting the owners bottom lines, we are going to be adding in these detectors free of charge.

We feel it is our privilege to be trusted to manage your home and we want to take every step to make sure you are protected. When looking for a San Antonio Property Management Company that will maximize revenue, hold expenses in check and has competitive rates, please consider Wright Property Group, the only company that includes professional photography of your home plus no charge carbon monoxide detectors!

How to Get a GREAT Tenant for your Rental Property!

Wed, 23 Jan 2019 21:13:14 GMT

How to Get a GREAT Tenant for your Rental Property!

When it comes to placing a tenant, you cannot over state how important it is to complete your due diligence, market aggressively and then follow the guidelines you set in place. To get good candidates, you need to have strong online presence. We start by using a professional photographer. Those sharp HD images help people get a good sense of the home, which is powerful if that potential tenant is still in another state getting ready to relo. We use over 50 websites and show properties evenings and weekends.

Next, set up your guidelines. We evaluate potential candidates based on credit scores, rental history, job history and income level and finally their criminal history. Because we have established criteria, our background checks and decisions are consistent.

Next, have an iron clad lease and procedures. Spelling everything out really helps take the uncertainty out of the equation. Our lease and addenda is 26 pages in length but also eliminates surprises. And because we conduct multiple pre move in inspections and document the condition with over 300 move in photos prior to a tenant, you can rest assured the home is protected.

We welcome any property management questions you may have and are happy to share our knowledge.

Time to refinance?

Sun, 17 May 2015 22:31:24 GMT

Time to refinance?

With the increase of property taxes on the horizon, many property owners are concerned about the increase to their housing payments. First, the appraisals are reflecting generally what the properties are worth. After checking over 300 properties, in almost 90% of cases, there was less than a 2% difference between the appraised amount and the actual market value.

So what to do now? First, if you escrow for your taxes at the end of the year, notify the lender so that they can start withholding more. Nobody likes to pay more than they should, but if you don't do it now, they will definitely by contacting you at the end of the year. Then not only will they be wanting to add in the deficit amount, they will also be wanting to add in the projected amount for 2016. So better to start planning now versus being put in a bad financial situation 6 months from now.

Next, think about refinancing your home. If you are going to be in the home another 24 months or longer, the costs are easily offset over that time frame. If your interest rate on your mortgage is 5% or greater, it is definitely time. Rates will not be this low again. Currently, depending on your credit scores and debt to income ratios, interest rates are between 3.5-4.5%. And lenders want to earn your business so they are getting competitive. Remember, if you can refinance, you many not even notice t

Bexar County Appraisals have jumped

Tue, 12 May 2015 22:32:11 GMT

Bexar County Appraisals have jumped

We have all been receiving those envelopes from Bexar County Appraisal District this week and have been shocked and surprised in the appraisal value increases. We have been fielding lots inquiries over the past week requesting Comparative Market Analysis so that protests can be filed to get the values reduced. Even more shocking is that the values being assessed are actually matching up close to the real market value of the properties!

Homes in Northwest and North Central San Antonio have seen the bulk increases, averaging close to $15,000 minimum on the increase in values. Our market has been robust over the last 24 months and this is the unfortunate trade off.

There is hope however. On many multi family properties, we are seeing that the assessed values are not close the actual market value. In some cases, the values have missed the mark by $60-70,000. To protest is really simple and you want to take this opportunity to make sure that you have all the exemptions on your home that you are entitled to. It is FREE to claim your Homestead Exemption and other exemptions offered through the country.

If you are curious about the forms, visit BCAD. org. If you are curious about your home's value, visit our CMA page, http://sahomeprices.com. It is a simple process and lets you get real time information for your neighborhood. Any other questions, be sure to call us here are the office.

Think twice before proceeding with a pocket listing

Wed, 11 Jun 2014 22:32:55 GMT

Think twice before proceeding with a pocket listing

Sam Debord, the managing broker of Seattle Homes Group with Coldwell Banker Danforth, made a guest blog post on Realtor.com yesterday. We thought it had some great information that we'd like to share with you.

Have you ever heard of pocket listing? According to Debord, a pocket listing is a strategy for selling a home that limits the exposure of the listing "to just a small pool of potential buyers and to not publish it on the local MLS for all buyers to see."

Debord had this to say about it:

Home sellers today are often approached with a variety of marketing strategies from potential listing agents. They offer a wide range of options to get exposure for the homeowner’s property.

The local MLS has listings that feed out to every brokerage and agent website in your area, and even nationwide in many cases. Since nine out of ten buyers are searching online, it’s the MLS that is real estate agents’ #1 tool for generating buyer exposure for their listings.

There are also some agents who propose different kinds of listings, known as “pocket listings”. The strategy for pocket listings is to limit the exposure of the home to just a small pool of potential buyers and to not publish it on the local MLS for all buyers to see.

Homeowners considered pocket listings for many reasons in the past, including privacy and simplicity. With today’s cutting-edge MLS technologies, however, the reasons for limiting a home’s exposure with pocket listings have almost all gone away.

Concern #1: “I need privacy. I don’t want everyone to know I’m trying to sell my home, know my address, or see pictures of the inside of my home.”

MLS listings today have the ability to cover for all of these concerns. A homeowner can list their property with an agent on the MLS, but restrict the listing information so as to totally preserve their privacy. A photo of the view away from the home could be the only image in the listing. The address can be undisclosed, as well as the owner’s name.

The listing could simply state a five-bedroom home in a certain neighborhood is available for sale at a particular price. All inquiries would go through the listing agent, who could screen the buyers and only allow showings to serious, pre-qualified candidates.

Concern #2: “I don’t want lots of people walking through my house every day. I’ll tell my agent a price, and if they can find the buyer, we won’t need to put it on the market.”

First, a homeowner can always limit showings. They can be as limited as one hour/week. The rest of the week no one is allowed through the home. Although this is somewhat limiting for potential buyers, it still allows the entire buying public to see the home is on the market and to schedule an appointment.

Second, and more importantly, homeowners often underestimate the value of their homes. Selling your home at a pre-defined price, without testing the market to see if there are higher bidders, can leave a lot of money on the table. With the number of bidding wars and homes selling above list price we’ve seen recently, homeowners risk a significant loss of profit when selling their home without exposing it to the full market of buyers.

Concern #3: “If my house doesn’t sell right now, I don’t want there to be a record of it on the MLS being an unsellable property.”

This is a reasonable concern for a homeowner but also one weakening their ability to attain their true goals. If a homeowner truly wants to sell their home, the most likely place for success is on the MLS where the most potential buyers are shopping online. We see homes every month sitting on the market until one perfect buyer falls in love.

Some homes only get one offer after months on the open market. If they had been exposed only to a small number of buyers in a pocket listing, the chance they would have been sold would be significantly lower. By trying to limit negative exposure, the home seller in this case would also be limiting the most important factor, positive exposure.

If you’re not a celebrity or in a very unique situation, pocket listings are rarely the best choice.

Realtors and real estate organizations nationwide agree getting the maximum exposure for your home from an MLS listing is essential to achieving top dollar on your sale. While there are some rare situations where home sellers are more concerned about keeping their sale quiet than what price they can get for their home, the vast majority of homeowners are best served by an MLS-listed property.

Whether it’s a simple listing with little information, or a fully-marketed listing with 25 photos, the exposure to potential home buyers with an MLS listing is invaluable to the process of getting a home seller the greatest return on their investment possible.

Sam DeBord is managing broker of Seattle Homes Group with Coldwell Banker Danforth, and a state director for Washington Realtors. You can find his team at SeattleHome.com and SeattleCondo.com .

Nicer Home or Better Location? Which Would You Choose?

Sun, 23 Mar 2014 22:34:45 GMT

Nicer Home or Better Location? Which Would You Choose?

The Texas Association of Realtors has great advice for consumers. In a recent article they posted they discuss a conflict many home buyers face. If you're debating between a nicer home and one in the better location, which one do you choose? Below is the highlights they said are important to consider.

How long are you willing to sit in your car?
You might be able to buy a bigger, nicer home by adding 20 minutes each way to your daily commute, but understand that you'll be spending 14 additional hours behind the wheel every month. Don't forget the additional gas and maintenance costs, too.

How frequently do you want to engage in your favorite activities?
Whether your most-cherished pastime is shopping, playing tennis, hanging out with friends, or taking your dog to the park, you're likely to do more of it when you have easy access.

Ready to keep up with your neighbors?
Moving to a neighborhood means buying into a lifestyle. You're not required to keep up with the Jonses, but it's difficult to suppress your consumer instincts when the people next door drive better cars, take nicer vacations, and purchase the latest high-end appliances.

Speaking of neighbors ...
Do you enjoy constant interaction with people, or do you like a bit more privacy? Your preference might point you toward a high-rise condo, a ranch, or something in between.

Do nearby schools make the grade?
If you have school-age kids (or plan to), you'll want them to attend good schools. Even if you don't have kids, the quality of nearby schools can affect property values.

What's with that noise/smell/view?
Vehicle or air traffic may not bother you in the least. Or it may drive you nuts. Same goes for other nearby sensory stimuli. Make sure you know what you can easily tolerate and what you want to avoid at all costs.

You may also want to assess neighborhood safety, access to public transportation, and other aspects of location. A Texas REALTOR® can help you find a home based on the criteria important to you, so you not only wind up in a nice house but in a good location, too.

Bee-Friendly Garden

Sun, 16 Mar 2014 22:37:15 GMT

This is a subtitle for your new post

Happy St. Patrick's Day! I cannot believe Spring Break just ended. It feels like New Year's Eve was just last week!

With Spring right around the corner, it's time to start thinking about your garden. Sierraclub.org has some good tips for a bee-friendly garden:

"5 Steps to a Bee-Friendly Garden

Bugged by aphids in your garden? Spray them with garlic oil. Overrun by slugs? Eggshells will do the trick. Most experienced gardeners know the ins and outs of pest control, and avoid using conventional insecticides that can be toxic to the wildlife in their gardens . But even the environmentally aware may have been caught off guard by the recent news that supposedly bee-friendly plants purchased at big-name hardware stores can come pre-treated with chemicals believed to be fatal to bees. As more and more research linking colony collapse disorder to pesticides use comes out, it's more important than ever to look out for the bees in our own backyards. Here are some tips for keeping your garden bee-safe:

Know your plants. Choose what to grow based on your local environment and begin to prevent infestation even before you plant. Research which plants fare best in your area and in soil conditions, and carefully monitor plant health so you'll recognize signs of infestation later on.

Buy organic . Begin with untreated seeds or organic plant starts, and plant them in organic soil. Ask around for a trusted neighborhood nursery or seek out suppliers who have demonstrated a commitment to growing organic. Keep an eye out for providers who've signed the Safe Seed Pledge .

Know your pest. Learning to recognize your pests is an essential first step in eco-friendly gardening, as you can target your attention on the uninvited guests and keep your essential predators safe. To get a closer look at what you're dealing with, post sticky cards in your garden to trap a few of your pests.

Be pesticide-free . "In a backyard situation, pest insect problems hardly ever become so overwhelming that a pesticide is required," says Dr. Eric Mussen, UC Davis apiculturist and honey bee expert. "There normally is some physical way to detach the insects from the plants — picking, dousing with a hose, etc. We have simply become too used to squirting our problems away with toxic chemicals." The internet is full of safe and chemical-free solutions, from using organic items that naturally repel certain insects to planting trap crops to lure pests away from the threatened plant.

Know your natural predators. It pays to know who's on your side. Most people know ladybugs can be counted on to take out aphids, but plenty of bugs have a whole host of enemies out to get them . Parasitic natural predators contribute a lot to pest management, says Dr. Andrew Sutherland, Urban Integrated Pest Management advisor to the San Francisco Bay Area. In the right numbers and conditions, insects like lacewings and parasitic wasps can provide great pest control, but only if you provide them the resources they need to survive. Make sure your garden has enough flowers to keep your pollinators happy and healthy, recommends Dr. Sutherland, and you'll have a tiny pest-control army."

Speak Up!

Thu, 06 Mar 2014 23:37:59 GMT

Speak Up!

In an article posted by the Texas Association of Realtors, they say:

"It’s perfectly normal to change your mind about what you’re looking for during your house hunt. Maybe the properties you’re seeing aren’t what you expected or you’ve learned something in the process that changed your perspective.

Just remember that your Texas REALTOR® selects potential properties for you to view based on the search criteria you provide, so it’s in your best interest speak up if the homes you’re viewing don’t cut it.

If any of these thoughts pop into your mind, I recommend that you say so ASAP:

Oh, no, not another two-story. You told your real estate agent that you were OK with viewing homes with multiple floors, but now you dread the idea of climbing those stairs. Just say so. Your Texas REALTOR® will eliminate those properties from the search, and you never have to consider the cost of installing an elevator again.

Eh, it’s only five more minutes to work. You initially only wanted to view homes within 10 miles of your office, but the few listings in the area are at the top of your price range. Let your real estate agent know if you’re willing to add a few miles to your drive to increase your options.

We have one on the way … or one on the way out. Do you expect your family situation to change? Maybe you’re planning to have children in a few years, or your teen is leaving for college soon. This information can help your real estate agent build some flexibility into the search criteria, like proximity to schools or number of bedrooms.

We’re going to want a bigger boat. Just because you’re pre-approved or pre-qualified for a certain amount doesn’t mean you have to only view homes at that price. Let the Texas REALTOR® working on your behalf know if you’re open to homes at a price that gives you room for other expenses."

Agent or No Agent?

Tue, 25 Feb 2014 23:40:40 GMT

Agent or No Agent?

One of the main questions people ask themselves when they are looking to buy or sell a home is, "Should we hire a real estate agent?" Many people think that they will net more money if they conquer the task alone. But having an agent definitely has it's benefits. Here's an infographic you may have seen floating around online that illustrates some of these advantages.

Many people believe these benefits are totally worth it. In the long run, an agent can save you a lot of time and tons of money.

It is important to make sure you have an agent that will work for you. So, in the event you do decide to hire one, here are some important questions to make sure to ask before you hire them.

1. How long have you been in the real estate business?
How long has this person been on the job (look for upward of a year), and were they full or part time? While experience is no guarantee of skill, real estate, like many other professions, is mostly learned on the job.

2. Are you a member of the National Association of Realtors?
This organization requires certain standards from its members, and you don't want to worry about having a shady agent.

3. Are you a member of MLS?
This is the Multiple Listing Service, which gives agents access to houses represented by all agencies -- not just their own. For sellers, this means your home will be posted on the list as well, which means more people will see it.

4. Do you work on weekends?
Since this is when most open houses take place, the answer to this should be yes.

5. Can you outline how you would represent us?
The answer should include your housing inspections, following through with your mortgage approval process, and being present at your closing.

6. Will you show me houses listed by other companies?
Double-check that the agent isn't partial to his or her own realty group.

7. Are you familiar with our area?
You'll want the agent to know the ins and outs of your community.

8. How many homes have you sold?
If you're in the market to sell, find out how many homes they successfully sold last year. While those numbers may be low due to market activity over the past six months, it’s a good way to compare candidates.

9. What's your business style?
Do you want a broker who calls you once a week or emails daily? Find out how the agent will keep you updated on prospects and inform them about your preferences

Water Heating Efficiency

Tue, 04 Feb 2014 23:41:41 GMT

Water Heating Efficiency

Hey guys! Hope everyone's doing their best to stay warm (even though it still gets up to almost 80° some days!).

Although the weather is still all over the place here in Central Texas, it's been more cold than warm lately and everyone is using their hot water like crazy. Which, as I'm sure you've noticed, results in higher utility bills! Running more hot water runs up your water bill and your electricity bill causing higher payments.

If you're wondering what you can do to try to keep your utility bills down during these cold months, CPS Energy has posted some water heating efficiency tips on their website that I've included here.

Use Cold Water as much as possible when using a dishwasher or washing machine
Take Short Showers or shallow baths for the kids
Buy a High Efficiency Washing Machine when you need a new washer
Check the Setting on Your Water Heater. The recommended setting for our area is 120°. Also check the unit for possible leaks.
Wrap an Old Water Heater with an insulation jacket to decrease it's heat loss. Insulating the water pipes can also help.
Don't leave hot water running when shaving or rinsing dishes. This will reduce the amount of energy needed to heat the water and save on your water expenses as well.
Wait to wash dishes and clothes until you have a full load.
Install a Low-Flow shower head or faucet aerator to not only save water but reduce water heating costs as well.
Try a natural gas water heater for greater efficiency. Take advantage of CPS Energy's Natural Gas Rebates.
Consider a tank-less water heater system. Tank-less units heat water directly without the use of a storage tank -- saving energy and water, reducing both of your utility bills.

These may be small but they add up and if you do them all you'll be able to notice a difference in your utility bills. They could even aid in preventing rolling blackouts like we had a few years ago!

If you aren't familiar with some of rebates CPS offers, make sure to look at their website. If you're in other parts of the state or the country, make sure to check out your energy company's website for rebates as well. I know our local utility company, CPS, offers rebates for several things including air conditioners, attic insulation, solar, air flow performance and more.

Do you have techniques of your own that help converse hot water? Share them in the comments below. We want to hear about them!

Make sure to subscribe to our blog so you don't miss a beat!

Curb Appeal

Thu, 30 Jan 2014 23:42:29 GMT

Curb Appeal

You only get one shot at a first impression. It’s your one chance to make an impact or inspire action. And sometimes, a first impression is all you get. That’s why some real estate experts say curb appeal is the most underutilized, powerful element of selling your home. It’s the first impression to potential buyers. Based on the curb appeal of your home, they’ll decide if they want to see the inside of it or not. It’s their first step in.

Curb appeal is also important even when your home isn’t on the market. Believe it or not, it can actually influence the desirability, and thus the market value, of the homes in your neighborhood. Have you ever had an HOA that held contests for the best yard? The HOA in a previous neighborhood I lived in held one every month. Judges from the HOA would determine who had the best looking yard for that month and they would get a sign to post in their yard and bragging rights. Everyone likes a little friendly competition but the HOA did this for a very specific reason. To keep the market value and desirability of the neighborhood up. It’s genius! Everyday when neighbors would jog or walk their dogs, they’d get to see who had the best yard for that month. They were beautiful lawns and everyone looked forward to seeing who had the best yard when a new month rolled around.

Maintaining the market value of the homes in your neighborhood is critical, especially in an upcoming housing market like the one we’re in now ( check out San Antonio Board of Realtors December 2013 market statistics ). It directly relates to the equity you have in your home, which could be crucial in an emergency if you need to take out a second mortgage or even sell it. It’s also important to the overall economy of the city you live in and ultimately the country’s. Everything is interrelated so it’s important not to take anything for granted.

If you’re still not sure how significant curb appeal is, HGTV created an entire show dedicated to it (literally called Curb Appeal)! Have you seen it? Oh, it’s great. You have to check out these amazing before and after pictures! Now, we certainly don’t expect you to master the art of curb appeal like Architect John Gidding from the show but these pictures are so fun to look at!

If you’d like to spruce up the exterior of your home a little, check out our Curb Appeal board on Pinterest for some easy inexpensive ideas.

If you need helping selling your home, contact us. We can help.

Don’t forget to subscribe to our blog so you don’t miss a beat!

Cold Weather Safety

Sun, 26 Jan 2014 23:44:07 GMT

Cold Weather Safety

Brrrr!! Cold weather is here! We hope everyone is doing their best to stay warm.

I wanted to take a moment to address something important today: cold weather safety.

In a news article CNN published yesterday, a six year old boy sacrificed his life to save six other family members in a fire. The problem was that there were no working smoke alarms in the house! The young boy happened to wake up and smell the fire and helped six other family members out of the house. He went back in to try to get his disabled grandfather who wouldn’t have been able to get out by himself, but neither one of them made it out. The news outlet said that if there had been just one working smoke alarm anywhere in the home, their lives could have been spared.

What a brave and heroic little boy! Even so, this is more than heartbreaking and we hope the families accept our deepest condolences.

It’s easy to forget about little things like smoke detectors, especially if you’re renting your home. But it’s so important not to! Put it in your calendar in your phone, put a sticky note on your computer or send a text message to another family member who lives in the home. Do what you have to help you remember!

If everyone could please take a few minutes to test your smoke detectors and make sure they’re working properly. If you’re unsure how to do that, I found these steps on WikiHow:

Alert all members of your household that you are testing the alarm first, unless you would like to use the opportunity for a fire drill.

If your smoke detector is hardwired to a monitored security system, be sure to notify the security system's company that you are performing a test before you test the alarm. You don't want the fire department showing up at your door!

Have someone go to a part of the house or apartment that is as far from the smoke detector as possible when conducting a function test, to determine whether the alarm can be clearly heard at that distance. Remember, it has to be loud enough to awaken the deepest sleeper in the household.
Push and hold the test button for a few seconds. The detector should produce a loud noise.
To test whether the unit will actually work in a fire, you will need a small spray can of smoke detector test aerosol. You might find this in a well-stocked hardware or home improvement store. If not, you can find it by searching the Internet. They cost only a few dollars, and one small can will last for years. Just spray some of the test material into the detector, and wait 5 to 10 seconds for a response. If the alarm sounds, you know the unit will sound in a fire. If not, you have a non-functioning smoke detector, even if it beeps when you push the button. Try changing the batteries and cleaning the detector to remove any dust that may be blocking the openings, then repeat the test procedure. If that does not get it working, it is useless. Replace it as soon as possible.
To turn off the alarm after testing you can hold a small, hand-held vacuum under the detector, suck out the test material, and the alarm will silence. If you only have a full-sized vacuum (the kind with wheels) use the extension tubes to reach up to the alarm and suck the test material out of your smoke detector. Newer smoke detectors may have a silence button that can silence the alarm until the residue leaves the unit. Alternatively, you can just wait for it to turn off by itself, but that wastes battery power, and the sound is very annoying.
Test every smoke alarm in your home every month. If you are not willing to do that, do it at least a few times a year. Always test alarms after battery changes to ensure that the device is working.

Tips

Never decorate any part of a smoke alarm (including the outer cover) with paint, stickers, hanging objects, etc. This can impair function.
Smoke detectors have a reliable service life of ten years. After ten years, replace the smoke detector with a new one.
A few times a year, use a vacuum cleaner (hand-held or full-sized with extension tube) to gently remove dust from the slots cut into the unit's cover. Dust in those slots could slow the entry of smoke and interfere with early detection of a fire.
Wear ear protection when you test the smoke alarm. It's very loud and you will be right next to it when you're testing it.
Most manufacturers recommend testing the detector weekly. The push button test is sufficient for this. Use the aerosol test gas a few times per year to ensure proper airflow into the detector.
If you move into a home with existing smoke detectors of an unknown age, look at the manufacturer's label on the back of the device. It might display a date of manufacture and you can use that date to calculate the device's age. If you cannot find a date of manufacture, replace the unit with a new one as soon as possible.

Warnings

Do not use candles or incense to test a smoke detector. The smoke produced by candles and incense contain waxy or oily particles that can contaminate the sensor and reduce its sensitivity.
All the test button does is check the BATTERY. It does NOT check the smoke sensor.
An alarm of any sort is merely a signaling device, it does not make the danger go away. In order to survive, you and your household must take action . Make a fire escape plan , ^[2] discuss it with everyone in your home (including children) and practice it.
No smoke detector can sound the alarm instantly. The fire will grow and spread before the alarm sounds. Consequently, when an alarm sounds, you MUST get yourself and everyone else in your home out as quickly as possible. In a house fire, the difference between death and survival is often measured in minutes; sometimes seconds.
Laws in your jurisdiction probably specify how one must dispose of outdated and unreliable smoke detectors. Check the rules that apply in your area, and dispose of old and unreliable detectors properly.
It is dangerous to test a smoke detector using flame. It is safer to use an aerosol test spray. However:
Never try to test a smoke alarm with any aerosol spray other than one specifically manufactured for that purpose. Other types of sprays contain material that will stick to the sensor, and make the device less reliable in the future.

I can't stress enough how important this is. And maybe, in an effort to protect our own families we can honor a brave boy who sacrificed his life to save his.

Do your best to stay warm out there y'all!

PS. Don't forget to subscribe to our blog so you don't miss a beat!

Market Value vs Replacement Cost

Wed, 15 Jan 2014 23:44:52 GMT

Market Value vs Replacement Cost

There’s been a lot of confusion when it comes to the market value and replacement cost lately so we thought we’d address this issue once and for all!

Why is it important to know the difference?

The most common area that deals with replacement cost is insurance. Obtaining your homeowners insurance is usually about the last step in buying a home. You’re about to close and you just need to secure your homeowners (sometimes called hazard) insurance to seal the deal. Now, you know what the house was listed for and you’ve researched comparisons in the area; you know what other homes are selling for in the area. You’ve negotiated a price that you think is fair. Essentially, you’ve been dealing with market values this whole time. But when you get your insurance, the insurance company tells you they’re going to insure the home for a completely different amount that’s no where near what you paid for it or what it was listed for! (The replacement cost could be much lower or much higher than the market value depending on the economy and current market conditions. That’s a whole other blog post.)

It’s alright. Don’t panic.

When you insure your home, you’re insuring it for the replacement cost, how much it costs to rebuild your home, NOT the market value.

The market value of your home is what you could potentially sell it for. There are many factors that go into determining the market value, like current economic conditions, location of the home and desirability. This is how much someone would pay to buy the house.

Now, Replacement Cost is completely different. It literally means how much it would cost to replace or rebuild the house with another one exactly like it. The factors that go into determining the replacement cost has nothing to do with location or current market trends, conditions or desirability of the neighborhood. You literally need to get estimates from several different contractors to build the house again from scratch. Replacement cost depends on how much they charge for materials and labor. You can think of it as wholesale cost. How much does it cost to BUILD. NOT, how much can I sell it for.

This is why it’s important to get your insurance with a large reputable company. The one I’m familiar with uses Marshall and Swift/Boeckh to help them determine this value. Marshall and Swift/Boeckh surveys the cost of labor and materials all over the country 4 times a year to maintain accurate labor and material costs. Based on the information you give the insurance company about your home, they’re able to come up with a replacement cost (sometimes referred to as rebuilding cost) that’s approximately 99% accurate. Smaller insurance companies that aren’t as reputable may not be able to calculate a rebuilding cost as accurate. When it comes to insuring your home, you don’t want to over insure and overpay for coverage you obviously don’t need. But you also certainly don’t want to under insure your home either.

We hope this clears up any confusion on market value and replacement cost of homes.

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HUD.gov Announces: The Lead Disclosure Rule

Wed, 06 Feb 2013 23:45:32 GMT

HUD.gov Announces: The Lead Disclosure Rule

Test blog post 1Congress passed the Residential Lead-Based Paint Hazard Reduction Act of 1992, also known as Title X, to protect families from exposure to lead from paint, dust, and soil. Section 1018 of this law directed HUD and EPA to require the disclosure of known information on lead-based paint and lead-based paint hazards before the sale or lease of most housing built before 1978.

Types of Housing Covered?
Most private housing, public housing, Federally owned housing, and housing receiving Federal assistance are affected by this rule.

Effective Dates
The regulations became effective on September 6, 1996 for transactions involving owners of more than 4 residential dwellings and on December 6, 1996 for transactions involving owners of 1 to 4 residential dwellings.

Recordkeeping
Sellers and lessors must retain a copy of the disclosures for no less than three years from the date of sale or the date the leasing period begins.

What Can You Do?
If you did not receive the Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards form when you bought or leased pre-1978 housing, contact 1-800-424-LEAD (5323).

wright-property--group

San Antonio Property Management Blog Bexar County Appraisal District Values have been released

Bexar County Appraisal District Values have been released

What the new normal looks like

Virus survivial

Another Renter's Commission meeting update

Resident Commission for City of San Antonio Update

Happy New Year now let's get time to business

Planning for 2020

Planning for 2020

Following the Scout Motto

Veterans Day rememberance

The need for tenant insurance when you rent

How to protect your rental property

Summer A/C Maintenance tip

Summer A/C Maintenance tip ﻿

Is a Home Warranty Worth It?

Summer Heat in San Antonio

The Rental/ PCS Season is upon us

How is the San Antonio market for buying real estate?

Are First Impressions really that Important?

Is it smart to Update my home while the tenant is still there??

How does your Property Manager keep your properties safe?

How to Get a GREAT Tenant for your Rental Property!

Time to refinance?

Bexar County Appraisals have jumped

Think twice before proceeding with a pocket listing

Nicer Home or Better Location? Which Would You Choose?

Bee-Friendly Garden

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"5 Steps to a Bee-Friendly Garden

Speak Up!

Agent or No Agent?

Water Heating Efficiency

Curb Appeal

Cold Weather Safety

Market Value vs Replacement Cost

HUD.gov Announces: The Lead Disclosure Rule

Summer A/C Maintenance tip