The Setting: Once upon a time, in 2016 the Commonwealth of Massachusetts Cannabis Control Commission passed the state law for Chapter 334 of the Acts of 2016, The Regulation and Taxation of Marijuana Act legalizing recreational marijuana under certain conditions and situations. Everyone voted it in with a wide margin. But hardly anyone actually read the law to see what it said for what it did and didn’t allow under the statue. In the law, under SECTION 5. “The General Laws” […]
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A Property Manager’s Field Guide to Successful Tenant Screening Policies & Procedures “Tenant Screening by far has to be the most important responsibility of landlords to avoid ending up in housing court.” – Chief Justice Timothy B. Sullivan It has been said by many landlords and other rental and real estate professionals, much wiser than I, that the primary function of a successful rental business is the process of an effective system to screen for good residents. Having the wrong […]
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Every property, resident, owner, and Property Management Company is different. Each one has their unique characteristics and special qualities that set them apart from one another. It is obvious that properties are different. The same car driven by different drivers will perform differently over time. The same is true with buildings. The care and preventive maintenance performed will only extend the life and performance of the property. And just like there are different types cars, BMW, KIA, and Rolls Royce, […]
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Whether you find yourself looking for an apartment to call your home, or looking for a property management company to take over the management of your assets; there are key features you should be looking for from both sides of the aisle. You want to make sure they have the processes and procedures in place to upkeep the property for your family while you live there as well as the same processes and procedures to keep your property running at […]
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Top 10 Due Diligence Tips for Buying Real Estate Investment Property During an Interview with Henry Ford the reporter asked Mr. Ford, “How is it that you have become so successful?” to which Mr. Ford replied. “By making good decisions”. After thinking about his answer for a moment the reporter then asked, “How do you make good decisions?” to which Mr. Ford answered, “By having experience”. Again after some thought the reporter asked, “How did you get experience?” Mr. Henry […]
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You may probably think that from the blog title that we mean when the resident moves out of your apartment to live in another domain. Well, actually, in this case, we mean it quite literally. What we are writing about are some of the steps, concerns, and dilemmas you may run into when your resident passes away in the premises they rent from you. “To sleep: perchance to dream: ay, there’s the rub; For in that sleep of death what […]
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How Should You Handle a Security Deposit Upon the Transfer of a New Property or Property Manager? You have negotiated a hard bargain on your newest rental property purchase. There have been days and nights of endless due diligence, crunching the numbers, working with contractors to estimate repairs, pouring over lead and inspection reports and you finally have a signed P&S and a closing date. But wait! In your due diligence you have uncovered that the Seller is currently holding […]
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