"What is a Utilities Addendum?" This was a question recently posed to one of our offices. As a way to inform all of our landlord and tenant customers interested in this topic, we're answering this question through our blog. Here's our take on the utilities addendum - A utilities addendum might be something that is added to the lease for the following purpose:
Adding the monthly amount of a utility bill, usually one that can’t be placed into the tenants' name but that they are responsible per the lease, to the monthly rent.
For example, rent is $1000 per month, but the sewer bill of $60 (paid quarterly) can’t be put in the Tenant's name. The addendum stated the Tenant and Landlord agree that rent shall include $20 per month to cover sewer charges and that the Tenant will now be responsible for a total monthly rent of $1020 per month. Note that it is usually an addendum because it is added after the fact and is used to clarify to all parties the exact amount and expectation of payment each month. Without the addendum, the landlord may have to file in small claims court if the Utility charge wasn’t paid. With the addendum, the landlord has a much stronger case to file for eviction for non payment or partial payment of rent from the tenant.
Simply put, it's an agreement between the landlord and tenant as to how the utilities payments will be handled. Having one of these in place can help both parties understand who's responsible for what, and provide documentation to protect each party from a breach of the agreement by the other party. If your lease agreement doesn't contain language about utilities, a utilities addendum is probably a good idea. Feel free to call one of our offices for more info.
We want to take this moment to say "Happy Birthday" to the United States Marine Corps. Today, they turn 239 years old.
Tomorrow is Veteran’s day. The Goldenwest Management offices will be closed in observance of this day and out of respect for all those who have ever put on a uniform in defense of this great nation. Whether it be a fellow employee, a loved one, a sister/brother, parent or grandparent, we want to say thank you to you and your family.
From your friends at Goldenwest Management, we hope you have a happy and safe Halloween this year. For those of you that have stopped by the office, you may have noticed something spooky. For the rest of you, here are some office pictures from Phoenix and Las Vegas. Enjoy and HAPPY HALLOWEEN!...continue reading →
Today's the day! The Mountain Shadows Foundation 22nd Annual Fall Classic Golf Tournament begins today at the Santa Luz Club with a putting contest at 9:30 am followed by a shotgun start scramble at 11:00 am. The GoldenWest Management team will have a presence on the 14th tee to cheer golfers on and raise money for the foundation. As described in a previous post, we will be posting pictures from the event to our social media accounts. However, we have modified the hashtag to '#msfcharitygolf' in case you'd like to check out the action throughout the day.
Again, thank you all for your support, and here's the link to our Fundrazr campaign if you'd like to donate to the charity.
At Goldenwest Management, we pride ourselves on running a values-based property management service. Two of the values of GWM are community and charity. We believe in helping to make our communities stronger, and to support our favorite charities on a regular basis. Our upcoming charity event, The Mountain Shadows Foundation annual "Fall Classic Golf Tournament" is the perfect event to put both of these values in action. Held at the Santaluz Club in San Diego, this tournament supports the Mountain Shadows Support Group of San Diego County. The mission of this group is best described in the statement below taken from the MSF website. ...continue reading →
Today is Columbus Day. Depending on where you work, you may or may not have the day off. The stock markets are open (although bond markets are closed), and many employees of the government will not be working. However, our offices at GoldenWest Management will be open to respond to your questions and issues. ...continue reading →
According to a report released by CoreLogic today, California and Nevada are among the nation leaders in home value appreciation. CoreLogic uses what it calls it's Home Price Index (HPI) to track home sales, and measure the change in value over time. The average gains were actually very good for California and Nevada in the August 2014 report:
Including distressed sales, the five states with the highest home price appreciation were: Michigan (+11.1 percent), California (+9.2 percent), Nevada (+9.2 percent), Maine (+9 percent) and West Virginia (+8.7 percent).
This should serve as uplifting news to landlords and property investors (and those currently looking to get into the market) in those states.
As a property management blog, we have found that some of our most popular posts are those that answer challenging property management questions. Over the past year or so, we've tried to identify those questions ahead of time, and write about them as much as possible. For example, we've written about squatter's rights, the grace period for rent due dates, and security deposit recovery to name just a few. However, we would now like to open up the floor to our audience for questions. Have a landlord, tenant, or property investment question for our property management experts in California, Arizona, and Nevada? ...continue reading →
Property management is a challenging business where the property manager serves two different sets of customers with conflicting needs. As a marketer for a multi-state property manager, I have witnessed the razor-sharp line that a property manager has to walk in his place between the tenant and the landlord. At times, it can sometimes seem impossible to stay the course of this line, and I'll share my insight into why that is.
The business of property management is one where the landlord compensates the property manager to relieve them of the burden of owning investment property (a.k.a, managing tenants). The late night phone calls with repair requests, the destruction to property, the late payments, not to mention the screening of and securing decent tenants - these are all part of the burden that the property manager bears. The owner, usually, doesn't want to deal with the tenants, fixing up the property, or worry about collecting money. Usually, the property owner wants to make his investment by purchasing the property, and then simply collect checks by handing over the property to the property management company. In other words, they don't want to do the "dirty work". Despite this unenvious position, the property manager must do the bidding of the owner in order to get paid. If the owner feels that the service is not up to his standards, he can take his business to the next property manager in the area as switching costs are typically not that high. ...continue reading →
Goldenwest Management has just been ranked in the top 3 property management companies in Vista, CA by Thumbtack, Inc. This is great to hear as our San Diego office is still so young compared with other management services in the area. Despite the newness of the office, this ranking shows that our service level in the San Diego area is viewed as top notch. The system that we use, and processes developed over time (not to mention the fantastic people we employ) from our Phoenix and Las Vegas offices have translated well into the Southern California market. Thank you, Thumbtack, and thank you to all of our wonderful clients! Feel free to checkout the listing below.