Real Property Management Newsletter Issue 1
-
Upload
josh-kattenberg -
Category
Documents
-
view
222 -
download
0
description
Transcript of Real Property Management Newsletter Issue 1
From the
OwnerWow, what an ice storm we had in April! We are expecting April showers and instead received ice and a lot of snow. As you can imagine, our phones began lighting up as the tree branches began to break, power lines came done, and the city declared a State of Emergency. We were able to handle the increased call volume until the power in our
office went out!
Phones, internet, and computers all went down. So we scrambled to our homes, which still had power, and started working remotely on laptops, tablets, and cell phones. One by one our homes lost power. Thankfully, tenants could still call the maintenance hotline to log maintenance tickets. The call center and software provider have multiple redundant servers around the country. That way, if one server or call center goes down because of a natural disaster, we can continue to take and log maintenance calls. We could still see those maintenance tickets on our smart phones and dispatch contractors to the most urgent calls.
The damage amounted to gutters torn off roofs, overhead power lines pulled off of homes, damaged fences, broken windows…and of course, lots of tree limbs down.
Tenants where most frustrated by power lines pulled off the house. Because the power line runs from the transformer to the house, it is our responsibility to get it fixed. We called out electricians to fix the down lines, which they did promptly. However, before power could be restored, the city
needed to inspect the work, which needed to be done before Xcel would turn the power back on. Tenants would see that all their neighbors had power, but they did not and would call us upset that they still didn’t have power. Several tenants wanted to start their wood fire places to get some heat. Because the fireplaces where old, they had a high risk of burning down the house and we had to tell them not to try to use the fireplace.
The cleanup in the city has progressed quickly and we are working on repairing damage done to fences, gutters, and windows. The Ice Storm of 2013 will soon be a memory and we are looking forward to Spring!
IN THIS ISSUEFROM THE OWNER The Ice Storm of 2013 will soon be a memory
RECIPE Family favorite Fajita’s
FAMILY CORNER It’s a Boy!
ALL IN A DAY’S WORK Sioux Falls has adopted a “maximum number of occupants ordinance” for rental property
NEW RPM PROPERTIES
LEASES SIGNED LAST MONTH
REAL ESTATE INVESTOR
ROUND TABLE
A 1 hour session of gleaning from the experience of Sioux Falls industry leaders on the topics of financing real estate transactions
GLEANINGS “EntreLeadership” : Dave Ramsey
THE EVICTION PROCESS
FROM RESIDENTIAL PREMISES IN SOUTH DAKOTA
RASE YPN MULTI FAMILY &
SINGLE FAMILY Rentals & Investments
THE VOLUNTEER EMT
Emergency Medical Technician
PEOPLE AND PLACES SPOTLIGHT
Ryan Spellerberg: Mortgage Lender at First Premier Bank
WHERE IS RPM?
We are constantly on the go. Our travels take us around the city, state, nation, and world
IMPORTANT RPM DATES
RECIPE: Fajita’sThis recipe is a family favorite. A powerful aroma fills the house and we walk away from the table having eaten way to much!
Chicken or Beef Marinade 1/4 cup dry wine4 tbsp. soy sauce2 cloves garlic minced1 tsp. lemon pepper seasoning1 tbsp. lemon juice1 lb chicken or beef
Fry the chicken or beef. For fajita veggies, cut up an
additional onion and green pepper into strips.
Fry veggies in the leftover meat marinade.
Spanish Rice4 bacon slices set asideIn bacon drippings fry 1 cup onions and 1/2 cup green peppers
Add a quart (16oz) of tomatoes8oz tomato sauce2 tsp. sugar1 tsp. salt
Boil and add
1 1/3 cup long
grain brown rice. Pour into casserole dish. Bake 35 min.
till rice is tender (1-2 hrs for long grain brown rice) Long
grain brown rice is not as starchy. Sprinkle with cheese
1/2 cup. Bake 5 minutes. Garnish with bacon.
Serve with cheese, sour cream, lettuce, salsa, hot sauce,
and wraps as desired. 5-6 servings.
FAMILY CORNER: It’s a Boy!In “Family Corner” we share the little
things in life that make it all worth while
By Sharla Kattenberg
I should have known. All the signs were there. The evidence was clear to those around me.
But I could not see the truth. Call it denial; call it willful blindness. I don’t know what kept me from recognizing the data.
Josh realized it before me. Even my neighbor George realized it a whole week before I could see the truth.
Did I just come to the realization that I am pregnant?
NO.
I just realized that my HEN is a ROOSTER!
And here is the story behind my incomprehensible blindness.
In March, I took the kiddos to the local farm store, and purchased two of the cutest little fluff-ball chicks. The chicks were running around in several large cow feed tanks, and hanging above each tank was a colored advertisement for the type of hen the chicks would grow up to be. I bought an Americana chick, which was supposed to grow into a large hen that laid green eggs, and also a Giant Cochin chick, which was supposed to grow up into a beautiful fluffy hen with lots of feathering on her legs and
feet. (I wasn’t sure if city ordinances allowed for keeping hens in our backyard, but how much noise can two hens make?)
Over time, the chickens grew ... and grew ... and grew. At one point, I noticed that the Giant Cochin’s growth seemed to have leveled off. But the Americana! She kept getting bigger. And bigger. I wondered why her tail feathers were getting so long, glossy, and shiny. Then I noticed that the comb on the top of her head was growing ... much more than the comb of the Cochin. But, after all, they were both a different breed of chicken, and I assumed that the Americana breed just looked a LOT different than the Cochin.
So far, I think that anyone reading this who is not intimately familiar with chickens could forgive me for missing the significance of these “small” details.
But ... you might not be so sympathetic when you hear about the next missed sign. One week ago, I was walking out to
the shed to feed my chickens. Since their cage was located behind the shed, I could not see them yet--but suddenly, I distinctly heard something that sounded a LOT like a chicken crowing! I stopped in my tracks. Was that one of my hens? I wondered. But I didn’t hear any more crowing, and when I rounded the corner and looked at the chickens, they were both innocently pecking the ground. “Huh,” I thought. “I didn’t know hens crowed!”
Well, needless to say, once JOSH heard the chicken crowing, he instantly knew we had a boy chicken on our hands. He called me as I was walking to work and informed me: “We have an adolescent rooster in our back yard who has just discovered his voice.” For a very brief moment, I was shocked--and then, all the pieces of the puzzle fell together and I had to say, “Ahhhhh..... that explains things!”
We had to haul the chickens up to Josh’s mom’s farm ASAP. The rooster, like any teenage boy proud of his new manly voice, thought it absolutely essential that he display his amazing talents incessantly, all day long. Assuming that this rooster had discovered his voice at least several days before Josh and I realized the truth of his gender, and assuming that he was extremely proud of his vocal abilities during those days, it is a wonder that we did not get a visit from the local police officer.
In the end, am I disappointed there will be no green eggs? Yes. But, honestly, I don’t
NEWPROPERTIES
LEASES
LAST MONTH
E. Nyyee SStreet
Sioux Faalls
S. HHofstad Ave.
Sioux Fallls
NNN. 777ttth Ave..
Siooux FFallss
WWW. Leah St. Sioux Faalls
E. Kensingttton St.
Siouux Falls
W. 40th Stt. SSioux Falls
LLogan SSt. Sioux Cityy
W. BBailey SSttt..
Sioux Falls
SS.. 1st Avee. Siouxx Faalls
W. 9thh St. SSioux Fallls
W. Baileyy Stt. SSiooux Faallss
EE. 2288th St.
SSioouxx FFalls
EE.. 44tthh SStt. CCroookks
EE.. KKeennsington St.
Sioux Falls
WWindfieelddd PPkwy.
WWauukeee
W. Donaldd St.
Waterlloo
ALL IN A DAY’S WORKBy Josh Kattenberg
Sioux Falls has adopted a “maximum number of
occupants ordinance” for rental property. The ordinance says that no more than three unrelated people can inhabit a rental property. “Unrelated people” mean’s people who are more distantly related than cousins. For example, according to the ordinance, a four college roommates could not live in the same property. However, a family consisting of a grandpa, father, mother, uncle, two children, and a cousin could live in the same rental property. Another allowable combination is to have a family of four people together with two completely unrelated people. While the total number of people is six, the family of four only counts as “one” unrelated person.
Some landlords think, “This ordinance is unenforced, so why bother following it?” We can tell you from experience that the city of Sioux Falls does follow up on this ordinance. Enforcement usually arises from a neighbor’s complaint about to much coming and going at the property. Consider renting a four bedroom house to four or five college students. Each of those students has a car, a girlfriend or boyfriend, and about six other friends or classmates who will come over to study, visit, or hangout. What starts out as four to five cars, can quickly turn into ten to fifteen cars and
a lot of activity. This does not mean that there is a party going on, loud music, or any other sort of disruption. It does mean that a residential street is packed with vehicles. At this point the landlord will get a call from the city wondering how many unrelated people are on the lease. If the landlord has signed the lease with more than three unrelated people, he or she is in a pickle. The lease violates the city ordinance. However, the lease itself is a legally binding contract giving the right of occupancy to the tenants. If you find yourself in this situation, contact an attorney. Better yet, keep the law, and don’t get yourself in this situation in the first place.
Practical Guidelines for Occupancy
Rules Even after following the Sioux Falls ordinance of no more than three unrelated people in one property, property managers and landlords need to consider other practical occupancy considerations. For example, how many people should a landlord allow to live in the property? A good rule of thumb is no more than two people per bedroom plus one more. The “plus one more” can sleep in the living room on the sofa.
Also consider the ages and genders of the occupants. While you want to be careful not to discriminate based on age and gender, you should consider adopting a policy that allows families to split up boys and girls in separate bedrooms above a certain age. For example, a family of five with a mom, dad, two girls and a boy all above the age of twelve, should rent at minimum a three bedroom home, even though they would fit in a two bedroom home.
miss the chickens.
To date, I have failed at every attempt at keeping a pet:
The first dog we got turned violent when approached by a stranger, and we had to give him away.
The second dog we got chewed on things and pooped on the floor, and we had to give him away.
Our 3rd pet, which I thought was the safest one yet--a docile little hen--turned out to be a rooster, and we had to give him away. (We
sent the Cochin hen along with him to keep both chickens happy ... apparently chickens are unhappy when living solo.)
By the way, Josh hates pets of any shape or form. On the one hand, it is a manifestation of his deep and abiding love for me that he has allowed so many of my attempts at pet ownership. On the other hand, he knows by now that it’s just a matter of gritting his teeth for awhile, until my latest pet-attempt goes up in flames, and our house and property are purged of all pets and I proclaim myself cured forever of the urge to own a pet ... until the next time, anyway.
Real Estate Investor Round TableDo you every worry about not knowing what you don’t know? We do. If we don’t know something, at least we know we don’t know and we can go looking for an answer. However, if we don’t even have a question, how do we look for the answer? Knowing the right questions is an essential prerequisite for finding answers.
Let us introduce you to the Sioux Falls Real Estate Investor Round Table. Do you have a question, or do you wonder what questions you should be asking about real estate investment? Well, come and ask and learn from others. Real Property Management has partnered with Premier Bank, KMWF Accountants, Family Insurance, and HJN Real Estate to help raise the questions many people have, or should have about current or future real estate investment.
The Format: A 1 hour session of gleaning from the experience of Sioux Falls industry leaders on the topics of financing real estate transactions, avoiding legal entanglements, tax benefits, market trends, and more. We start with a 10 minute topic that one of our
professionals prepares on their industry designed to get you thinking about the questions you should be asking. Then we open the floor for your questions on this topic or any other related topic.
The Participants: Range from experienced investors with multiple properties
to beginners who are just looking at their
first real estate transaction. If you are thinking about investing in real estate or are a seasoned investor, please join us. We can
learn from each other.
Topics: For example, during the last round
table Ryan Spellerburg presented on the changes in the mortgage industry affecting multiple property purchases. One major change we learned was that in order to qualify for a mortgage, the owner must have a 6 month reserve for every property they own or intend to buy—including their primary residence. During the question and discussion time participants discussed how to use a self-directed IRA to fund real estate transactions. Not only is this possible, someone at the round table discussion knew something about it!
HJN Real Estate
conference room
(2nd floor)
June ? 5:30-6:30pm
Start & end promptly.
Held quarterly.
Where?
When?
GLEANINGS: “EntreLeadership”: Dave Ramsey
We are constantly reading, listening to audio books and attending seminars. We understand that our lives are enriched by hanging around great people or by reading and listening to their thoughts. In the “Gleanings” section we share with you what we are reading and some of the things were are learning.
We have all heard radio personality Dave Ramsey rail against personal and even business debt. A point Ramsey makes in Entreleadership against using debt in business is the opportunity cost.
When a great opportunity comes along, those with cash can take advantage of deep discounts--think housing crisis and discounted housing prices. The housing crisis was only a crisis for those in debt. For those with cash, the past few years have not been a housing crisis but a housing opportunity. Food for thought: If I didn’t have debt, but instead had cash, what opportunities would present themselves?
RASE YPN Multi Family & Single Family Rentals & Investments
THE EVICTION PROCESS FROM RESIDENTIAL PREMISES IN SOUTH DAKOTA
By J. Vincent Jones / Woods, Fuller, Shultz
& Smith P.C.
In the business of being a landlord or property manager, it sometimes becomes necessary to evict a tenant. Usually, the problem is related to the tenant’s failure to pay rent. Sometimes the reasons are related to damage, disruption to other tenants, or other violations of the lease agreement.
South Dakota’s eviction statutes (referred to as “Forcible Entry and Detainer”) are located in SDCL Chapter 21-16. The first step in most residential evictions is to serve a three-day notice to quit and vacate. The notice to quit and vacate may be served and returned like a summons, but the statutes allow for posting at the premises. Posting at the premises may occur after the second service attempt, at least six hours after the previous service attempt. The notice to quit must be posted in a conspicuous place and also delivered to the person there residing, if such person can be found. Finally, if serving by posting, the notice must also be sent by first class mail addressed to the tenant at the place where the property is situated. The notice to quit and vacate should state the reasons for the eviction.
After a notice to quit has been properly served and the three days have elapsed, the plaintiff may serve the defendant with a summons and complaint. In South Dakota, when calculating the three days following service of the notice to quit and vacate, intervening weekends and holidays should not be included in the calculation.
The complaint for eviction should state, at a minimum, the fact of an enforceable
lease between the plaintiff and defendant, all the grounds for eviction, how the defendant has breached the lease contract, and the relief requested. The complaint may include a copy of the lease agreement.
In an eviction suit, the defendant has four days to answer the complaint. The plaintiff may not include intervening weekends and holidays when calculating the time
elapsed following service. If the defendant fails to answer the complaint within the time required, the plaintiff may move for a default judgment following expiration of four days from the service of summons and complaint.
If the defendant answers the complaint within the time required, a trial may be brought on as little as two days’ notice. Practically speaking, many courthouses are not able to schedule eviction hearings with that degree of speed. The trial may be by court (judge) or by jury.
Whether a judgment of eviction is obtained by default judgment or at trial, it is important to include in the proposed order
the precise time and date that the tenant must vacate the premises, and if he or she fails to do so, it should direct the sheriff to remove the defendant.
Once the judgment of eviction is obtained, the plaintiff should obtain a certified copy of the judgment and take it to the sheriff’s office to schedule what is commonly called a “lock out.” During a lock out, if the tenant has not vacated the premises, the sheriff will execute on the judgment and remove the tenant from the premises. Many times the landlord will change the locks before the sheriff has left the premises.
It is important to remember that each eviction can be different. Many times, tenants will raise counterclaims that must be dealt with in a factually specific manner at trial. It is a good idea to contact an attorney to assist you through the process of any eviction.
NOTICE: This article is intended to
provide only general information. It
does not represent a legal opinion or
advice regarding any particular case or
issue. Transmission of the information
is not intended to create, and receipt of
the information does not constitute, an
attorney-client relationship. For legal
advice on a specific matter, please seek
counsel.
June 6 @ 10am
RASE Office: 2415 W. 57th St.Open Forum discussion format with a
panel of Property Managers and Brokers
who are experts in Investment Property
Where? What?
When?
Camaraderie, community, neighbors helping neighbors, adrenaline…all the good things that come to mind when I think of my time as a volunteer EMT (Emergency Medical Technician). Unlike the big city, small towns and the rural communities of Iowa and South Dakota depend upon volunteer medical professionals and firemen. When we turned 18, my brother Rick and I took the first responder class, the lowest level emergency medical training, and started serving with a small squad. We soon realized we loved the work and the next year took EMT training. The training consisted of more advanced techniques such as using a multi lumen airway to establish an airway which involved inserting
a very large tube into an unconscious patient’s trachea in order to push oxygen directly into their lungs, and simple techniques such as using pressure and elevation to control bleeding. We learned to know the difference between a tibia and a femur, and we studied everyone’s favorite subject…emergency childbirth. Giving birth to a baby in the back of a moving ambulance is the only thing that freaks out an EMT, and yet it is the only thing that is a normal occurrence and not a disease or accidental trauma. Maybe we are so nervous because of what is at stake—two lives and the innocence of a child. In the last 15 years of service we have seen some awful things…car accident victims on fire, suicides, heart attack victims. We have watched the raw grief of young bride over the death of a new husband. We have seen wonderful things…a small child’s blue, lifeless body become pink and return to life through our interventions. Sometimes EMT’s themselves fall victim to Post Traumatic Stress Syndrome through the things we see and experience.
The volunteer EMT is not the only one who gives up their nights or their time at work on a long transfer, filling out reports, or working on refresher training. Our families also give up a lot. When we are on call, we are at home, but can’t leave town, go on a walk, have a drink, or baby sit the kids. We
have to be ready at any moment to spring the rescue of the sick
and wounded. For the families
of EMT’s this means Christmas and birthday parties are interrupted, spouses must spend more than their share of the time taking care of the kids, and spend many nights alone.
When we go on a call in a small town, we can pretty much figure the patient will be one of our family members, friends, or neighbors. There have been times when the pager goes off we simply grab our jump kit and literally run across the street or step next door to answer the distress call of our neighbor. Being a volunteer EMT is a lot of work and sacrifice, but it is also highly rewarding. When we see the little boy who
was dead going down the water slide at the community pool…we
are well paid. It is our privilege to be part of his life.
When Seconds CountBy Josh Kattenberg
People and Places SpotlightRyan Spellerberg: Mortgage
Lender at First Premier Bank
Ryan has been in mortgage lending for over
12 years and a Sioux Falls resident since 2008.
With the laws ever changing in our industry
we find it very important to team up with
professionals like Ryan. In the past few years
because of falling prices and the mortgage
crisis home owners have turned their
property into rentals. Often the loan they
have does not qualify for rental property and
they are forced to do a refinance. We have
had some personal experience working with
Ryan and he has always been able to find the
best possible solution. Being a locally based
bank they are able to do non-traditional
lending that you wouldn’t see at some
national banks.
As you know nobody is perfect and I feel it is
only right to let you all know Ryan is a Bears
fan.
By Derek Kattenberg
Fun Facts about
First Premier Bank:
The Bank
for the State
of South Dakota
The Bank for
the City of Sioux Falls
20th largest ACH
originating bank
in the US
South Dakota
based
“““AAsss yyyooouuu kkknnnooowww
nnooobboodddyyy iiisss
ppeerrffeeecccttt aaannnddd
III fffeeeeeelll iittt iiiss
ooonnnlllyyy rriiggghhhttt
ttooo lleeettt yyyyooouuu
aaallll kkknnnooowww
RRRyyaaannn iiisss aaa
BBBeeeaaarrrsss fffaaannn..”””
Owner Referral CouponRefer a new owner to Real Property Management and receive
1 MONTH management fee for
Existing RPM Owner (Name; Number & Address):
___________________________________________________
___________________________________________________
___________________________________________________Referred Owner (Name; Number & Address):
___________________________________________________
___________________________________________________
___________________________________________________
*New owner must sign a Management Agreement with RPM. Contact Derek Kattenberg at 605-274-7373 for details. Referral coupon must be filled out and presented to RPM.
June 10
Post Owner Draws
June 13-14
Owner Draws Received
July 10
Post Owner Draws
July 15-16
Owner Draws Received
Who do I contact for... Jackie Stewart - [email protected]
(605) 274-7373 #103
Derek Kattenberg - [email protected]
(605) 274-7373 #102
Josh Kattenberg - [email protected]
(605) 274-7373 #101
Account Questions
Leasing Questions
Main-tenance
Questions
IMPORTANT
RPMDATES
Where is
RPM?We are constantly on the go. Our travels take us around the city, state, nation, and world. We haven’t made it off the planet yet, but with the advances in space tourism, who knows! Each month we will post a different picture of somewhere we have been. It is your job to guess where we are. We will send a small thank-you to the first 5 people who email [email protected] with the correct answer. These thank-you’s will be different each month. For May, we will be giving out Scooter’s gift cards. Good Luck!
Hint: Josh rock climbing somewhere in South Dakota.
6009 S. Sharon Ave. Ste. 103
Sioux Falls, SD 57108
(605) 274-7373
www.expressrpm.com
FREE*