Blog Posts in Category: Property Management
2023 has been a challenging year for the housing market. With seemingly soaring interest rates, low inventory on the market, and an inflated market things have been difficult for both Buyers and Sellers alike. Even now as we step into the latter half of 2023, the housing market remains a dynamic arena with truly life changing opportunities. When coupled with the right team, possibilities are endless for everyone. To find those opportunities, let’s dive into what the months ahead could look like if you’re in the market to purchase or sell your home. more...
06/19/2023
Your Preferred Property Management Group
Advent Properties, Inc has been providing service beyond expectation to California Homeowners and Landlords since we were established in 2008. As we move into a shifting market, it’s important for us to continue expanding our ability to provide top notch services to all of those we continue to serve. Here are just seven reasons why we are your number one choice for Property Management: more...
For the month of May, Advent Properties is proud to support our very own Leasing Agent, Tyler Powell. Tyler has been with the company now for over 3 years and is our sole Leasing Agent working directly with our owners to keep their properties occupied with our amazing tenants. Thanks to Tyler, Advent has an average of 28-40 days on Market for our properties. Which is less than the 30-60 average days you usually expect in the Bay Area. We sat down with Tyler and asked him questions on why he has so much success: more...
As retirement approaches, many people are concerned about ensuring their financial stability. One way to achieve this goal is by investing in real estate. Purchasing a rental home can provide a stable source of income during retirement, but there are several things to consider before making such a significant investment. more...
04/27/2023
Why Young Adults Should Purchase a Home
Buying a house can be a difficult task for anyone to do. So of course with student loans, an entry-level job, and the desire to travel and explore the world, it’s understandable why as a young person there’s the decision to rent over buying. However, homeownership presents many benefits that cause a significant impact to your financial future when choosing to purchase a home earlier rather than later. There’s a reason that Urban Institute finds $72,000 difference between those who purchase a home between 25 and 34, and those who waited to buy until 35 to 44. more...
Photo by Kimson Doan on Unsplash more...
Photo by Brett Jordan on Unsplash According to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy climbed 3.6% in January (not seasonally adjusted). The index was higher by a 25.4% jump in softwood lumber prices and 9.0% price increases for indoor and outdoor paint. more...
09/29/2021
What Happens After September 30th, 2021?
'The state legislature adjourned this month without extending its eviction moratorium and the terms of AB 832. So, barring any extraordinary effort on either the governor or lawmakers, the state moratorium should, therefore, finally lapse on September 30, 2021.
Beginning October 1, 2021, and continuing through March 2022, California will enter into the "COVID-19 Rental Housing Recovery Act."
What this means in Alameda County
Nothing at all! For some of you, September 30, 2021, will be the proverbial "light at the end of the tunnel." But for those with rentals in Alameda County, the end of California's moratorium will have absolutely no effect, and properties will remain mired in local "emergency" ordinances, which still effectively prohibit ALL evictions indefinitely. Laws in both Oakland and Alameda County will only expire 60 days after the local emergency ends. Our honest assessment is that regular evictions will not be allowed in Alameda County until 2022 at the earliest. Only cases involving an "imminent threat to health and safety," post-foreclosure, forcible detainer, and at-will tenancies may move forward for the time being. Please reach out to us if these issues relate to your tenancy.
What this Means Everywhere Else more...
Being a rental property owner is something many strive for in their lives. Most of the time, financial advisors recommend owning a rental home is a great investment strategy in building wealth. But, “with great power comes great responsibility,” as you’ll always be required to adhere to the ever-changing local and statewide housing policies and laws. Owning multiple rental properties only ups the stakes, and as with anything else, there are plenty of pros and cons — but that’s where hiring a Property Management company plays a role; we’ll get into that throughout this article too. more...
The California Apartment Association has published an array of compliance materials — including an Industry Insight document, an FAQ, and related forms — to help rental housing providers comply with AB 832, legislation signed into law earlier this month that extends the state’s COVID-19 eviction moratorium by three months. more...
It’s no secret that rent prices were dropping quickly during the pandemic – especially in major Bay Area cities. But according to a recent analysis, there are signs the pandemic-weary rental market is edging up just a bit. more...
The recently enacted COVID-19 relief legislation, the American Rescue Plan Act, included $9.9 billion in relief for homeowners to be administered through a new Homeowner Assistance Fund. These funds, which will soon be made available to eligible homeowners through their states, may be used for assistance with mortgage payments, homeowner’s insurance, utility payments, and other specified purposes. more...
Nationally respected local business recommendation website, Three Best Rated, has acknowledged Advent Properties, Inc. as one of their 3 Best Property Management Companies in Oakland! more...
04/07/2021
How to Lower Your Property Taxes
Property taxes provide funds for schools, roads, and many other vital aspects of our community. However, that doesn't mean you should be paying more than you have to. If you're a veteran, disabled, over 65, or under certain income thresholds, you may qualify for a property tax exemption. Here are some other ways to lower your taxes: more...
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Photo by Sora Shimazaki from Pexels more...
Nationally respected business recommendation website, Expertise.com, scored 178 Property Management companies in San Francisco and 31 Property Management companies in Concord — so far, we technically rank #1 on both lists in 2021! We also received this award last year in San Francisco, and both lists were recently updated on March 12th and 17th, 2021 — giving us a great sign that our hard work is not going unnoticed! more...
The rental market is very competitive, but fortunately, there are a few things you should do to give your property the edge! Aside from the glaring essentials such as gas, electricity, and hot water, as a property owner, it is prudent to make sure that the property has proper flooring, solid quality blinds, and reliable appliances. more...
Photo by Jorge Maya on Unsplash California plans to extend eviction protections through the end of June while using federal money to pay off up to 80% of unpaid rent owed by tenants. Gov. Gavin Newsom and the top two legislative leaders of California state announced Monday night. more...
We are proud to announce that Advent Properties, Inc has been rated #1 by Propertymanagement.com on their list of the Best Property Management in Oakland, CA. Here is what they have to say about our services: more...
Widely respected business recommendation website, Expertise.com, scored 178 Property Management companies in San Francisco, and we rank #1 (technically). more...
Owning a home is a huge undertaking but a potentially rewarding one. When you buy a place of your own, you get to build equity in an asset that can increase in value over time. You also gain the stability of not having a landlord who can decide to renew your lease or not. But if you think that 2021 is the year for you to buy a home, you should know what the housing and mortgage market could have in store. Here are a few things to keep in mind: more...
Photo by Andres Siimon on Unsplash Smoking in multi-unit housing and apartments may become prohibited in San Francisco soon. The City and County of San Francisco Board of Supervisors are considering an ordinance that would change the health code to “prohibit smoking inside all private dwelling units in multi-unit housing complexes containing three or more units.” more...
Photo by Andrea Piacquadio from Pexels Proposition 19 has officially passed! California voters have approved a makeover to the state’s landmark 1978 law to limit property taxes with 51% support. The measure allows homeowners 55 and older, the disabled, and wildfire victims to carry low property tax rates with them when they move. Though, it strips property tax breaks from people who inherit property. more...
The COVID-19 pandemic and recent wildfires remind us of the importance of safe and permanent housing for protecting one’s health. In response to COVID-19, the Alameda County Health Care Services Agency (HCSA) and Alameda County Health Care for the Homeless (ACHCH) partnered with Abode Services and the State of California to implement Project Roomkey. Project Roomkey provides our unsheltered neighbors with isolation housing to recover from COVID-19 and safe housing for high-risk populations to help prevent them from contracting the virus. more...
05/29/2020
10 Very Common Rental Property Repairs
As a Property Owner, one of your most significant responsibilities is to keep up the property and repair things when they break. Although this can be high-priced and stressful if you budget and successfully plan for maintenance, you will have funds saved to handle these issues. Repairs tend to scare new landlords, but most maintenance issues are typically simple to repair. Even though you will rarely foresee when these issues happen, you can predict that they certainly will. more...
Buying a home is one of the most significant financial decisions you’ll make in your life. Although, on occasion, it can be one of the largest sources of stress for many first-time buyers is the financing process. Unless you’ve planned thoroughly and dedicated time for research, receiving a mortgage can feel complicated and overwhelming. Luckily, you could learn from these common mistakes first-time homebuyers make to have a less stressful experience: more...
Almost 75% of Realtors report that their sellers have not reduced their listing prices down to draw new buyers amid this pandemic, announced by the National Association of REALTORS. That indicates the amount of precaution home sellers consider to avoid feeling pressured to sell quickly during COVID-19. more...
While risk is an individual choice, the real estate industry is adjusting to give access to home buying securely during the coronavirus pandemic. You would now be able to do numerous things at a safe social distance, or even remotely with regards to purchasing a home that you might not have considered doing previously. more...
This week, several cities, the County of Alameda, and the State of California enacted moratoria on evictions for nonpayment of rent. Below you will find summaries of each ordinance relevant to your location: more...
Every 18 seconds another preventable break-in will occur in the United States, totaling to over 200 break-ins within an hour. The average monthly cost for home security monitoring services is $30/month ($360/year). Monitoring prices can be as low as $9.99/month ($120/year) for basic monitoring, and upwards of $100/month ($1,200 annually) for more premium services with complex devices. Even though implementing proper home security can become expensive, there are small steps you can take to improve home security and genuine feelings of serenity before leaving your home. Lock your door and windows This appears to be a conspicuous tip, yet 30 percent of thieves report breaking into a home through an opened window or entryway. Life gets occupied and we hurry to work, school, and activities. Take a couple of moments before you leave to check the entryways and as of late opened windows on the primary level. In the event that you'll forget to, stick a note in your entryway to remind yourself before exiting. Additionally, do not forget to close your blinds and curtains. Prior to entering a home, a robber needs to realize what they're going to take. A planned home break-in's duration typically lasts between 6-12 minutes, therefore burglars will investigate a home's valuables through windows before the break-in. more...
11/06/2019
Resources for Unlawful Evictions
The Tenant Protection Act caps annual rent increases at 5% plus inflation, while also forcing landlords to specify a legitimate reason for evicting tenants and to offer relocation assistance for no-fault evictions. While AB 1482: California’s new tenant protection act is set to take effect on January 1st, 2020. Many California residents find themselves receiving wrongful eviction notices from Landlords of their respective homes. more...
A recent report from Realtor.com® confirms that lower mortgage rates have piqued the interest of more buyers this fall. However, the consistently shrinking inventory of lower-cost homes is not keeping up with the high demand of buyers. more...
AB 1482, California's New Tenant Protection Act can get pretty legal pretty fast, so here is what you need to know at a glance:
What the Rent Caps mean to you:
• Starting in January 2020, landlords of multi-family buildings (2 or more apartments) cannot increase your rent by more than 10% annually unless local stricter rent control applies.
• If you are in a multi-family home in a non-rent-controlled city and received a rent increase of OVER 7.8% between March 15th, 2019 and December 31st, 2019 - On January 1st, 2020, your rent will be reduced to reflect only a 7.8% increase.
• Single Family homes not owned by a corporation are exempt from this rent cap law still.
What the “Just Cause” Ordinance means to you:
• Landlords CANNOT conduct No-Fault Evictions without paying you (the tenant) a relocation payment of one month’s rent or what the local laws state if you are in a rent and eviction controlled city.
• However, Landlords CAN evict residents for consecutive delayed rent payments, due to a breach in contract, especially if the resident lived in the unit for less than one year.
We are anticipating questions about both the Tenant Protection Ordinance, and about its effects on local ordinances. Please call (510) 500-7531) or email (dglass@adventpropertiesinc.com), and we will help answer your questions and concerns. more...
Home Trends can make your home feel and look new and refreshing, but they can also make your home feel outdated and uncomfortable. Some trends reach their end date while some become timeless. You might be asking yourself “How can I tell when my home needs to be renovated?” The most common method of staying up-to-date is to find blogs, influencers, and catalogs that fit the moods you want to show inside and outside of your home. You can modernize your home with small details like adding wallpaper, plants, and accents. Or you could go big and paint your rooms, order new furniture, or even add/remove the carpet. But remember, trends change like the seasons. So here is a list of 10 Home Decor Trends we’ve noticed that are losing their appeal this forthcoming Winter Season. 1. Fake Plants Implementing Plants in your home can help improve your indoor air quality. So place a few living plants in the appropriate hospitable locations of your home over several fake plants and flowers. If you’re concerned about your lack of a green thumb, here are a few suggestions that are easy to care for during winter. • In an Overly-Heated Room: Cacti and Desert Plants • In a Dry Room: Aloe or Fiddle Leaf Fig Trees • In a Dry Room: Philodendrons or Succulents • In a Low-Light Room: Chinese Evergreen, or Aglaonema • In a Drafty Room: Christmas Cactus or Jade Plants 2. Too Much Granite Granite is a popular option when choosing kitchen counters, but avoid going overboard by adding accents such as quartz or butcher block countertop for your kitchen island and workspace. 3. Industrial Everything Industrial home decor has been popular for decades; Edison bulbs, exposed brick, rusted or brushed metal accents are a few examples of this decor design. However, there is such a thing as too much industrial. If you want to go for an industrial look inside of your home, add a couple of elements such as modern pendant lights or a pegboard backsplash. 4. All Grey Everything Adding to the Industrial trend we’ve listed prior to this, all grey rooms can sometimes make a room feel dull and life-less in contrary to creating a calming and minimal environment. If it is too late to re-paint your walls or you absolutely adore your grey furniture, try adding in some vivid colored plants or wall decor that is an appropriate fit for the type room. 5. Vertical Blinds Vertical blinds can be a pain to open, close, and can become tangled easily. So most home decor enthusiasts update to mini blinds, DIY window treatments, and lightweight curtains to preserve the abundant natural sunlight in their homes. 6. Indoor Wicker Furniture Wicker furniture is typically a top choice for your balcony or porch, so keep the wicker outside. When used indoors, wicker is one of those home trends that can quickly make a home look dated. 7. Carriage hinges Carriage Hinges are most popularly found on tilt-up retractable garage doors that usually do not open like shed doors. This trend could make your home garage feel more like a barn shed as opposed to a destination for your vehicle. 8. Tuscan-Inspired Kitchens A popular kitchen design trend for just about two decades, but Tuscan kitchens are starting to lose their appeal. Instead of lots of stone and darker colors, today’s kitchens focus on brighter lighting and a crisp color palette for home trends. 9. Brass Hardware Metals may be in when it comes to accessories, but avoid shiny brass as it can make a kitchen look dated. Instead, replace cabinet hardware with brushed nickel, glass or stainless steel. 10. Bold Appliances Bold kitchen colors are on-trend, but avoid choosing bright colors for appliances. You wouldn’t put a ’70s avocado green or goldenrod refrigerator in your kitchen now, so just imagine how that bold red or seafoam green appliance will in a few years. We hope this list is helpful to your home modernization, we anticipate the various point of views about trendy home decor. Please let us know what your thoughts are in the comment section below, or tag us in your post on any social platform! more...
As the brisk winds of winter approach us, Advent Properties is here to keep you updated on how you can prepare to keep your home warm, cozy, clean and sturdy! For your safety, and to avoid damage to your property inside and out; it is best to routinely clean your microwave and oven, range hood filters, unclog sink and drain holes, replace heater filter, and check smoke alarms and fire extinguishers on a monthly basis. more...
Governor Gavin Newsome signed AB 1482 on Tuesday, October 8th, 2019. This new bill implements Just Cause for Eviction and Rent Cap across the State of California. The State of Oregon approved legislation similar to this February 28th, 2019. The new bill is intended to end rent gouging and senseless evictions. However, it does not prohibit cities and counties from creating new legislation or other ordinances that are uncompromising regarding rent caps. The law sunsets on January 1, 2030, so until then here are the highlights from the latest California New Tenant Protection Act: more...
09/24/2019
Always be learning, growing...
"REimagine" 2019 Real Estate Conference
This week, I'm at the California Association Realtors conference in Los Angeles. I'm here to learn more about the Real Estate and Property Management industries. As you're probably aware the real estate market and political arena are constantly changing. more...
09/18/2019
We love our owners, and it shows!
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Property management is not the most glamorous or easy job. Our owners are what make us do a good job. We love when they let us know that we are successful. more...
Knowledge is power. Property Management is difficult. We are here to assist. more...
Check out these updated guidelines for Oakland Rent Control. Contact Darryl Glass for more information at 510.500.7531 or dglass@adventpropertiesinc.com
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"You Can't Beat The Best"
Advent Properties was graced with the presence of Lara Calvert and Charles Deterline of Spectrum Community Services to present our trophy from the "Feed The Need Tailgate Throwdown" more...
09/12/2018
Rent Range Values for 2018 Updates
Noticeably with recent research, rents have been down in Berkeley and Oakland. With vacancies and aggressive marketing tactics people still can’t afford to live in the newly built apartments/ lofts that have been sprouting up across the East Bay. After rents have been increasing over recent years, they started to decline in June and have dropped ever since. Two industry groups – Apartment List and Zumper – are reporting that median rents in Berkeley fell anywhere from 3.8% to 15.9% in 2017, and dropped from 10.9% to a shocking 15% in Oakland. In contrast to those reports, rents went up in 8 of the largest 10 cities including Concord, Walnut Creek and Pleasant Hill, and El Cerrito, according to Zillow. Per an article from Zillow, Sam Sorokin, a Manager of about 1,000 apartments in Berkeley and Oakland confirmed the industry reports of rents dropping, although believed the decline was a mere 5.8%. He calculated that number by looking at people who first started renting in August 2016 and moved out in August 2017. His company ultimately had to lower rents to attract tenants. Something’s up,” said Sorokin. “All the economic indicators are great: strong job market, good wages, we’re not in a recession. Things just aren’t renting for as much.”“Sorokin said he thinks the drop in rents reflects what he and other building advocates have long been saying: constructing more housing creates more competition, which lowers rents.”“In 2017, a tipping point has happened,” said Sorokin. “The new construction has caused the rents to decline. There is no other reason I can think of.” (www.berkeleyside.com) Most of the newer apartments are aimed toward upper-income residents. They offer amenities like bamboo floors, stainless steel appliances, views, decks and in-house or nearby gyms. The recent complexes that have been completed in Berkeley in the past three years include: The Dwight and Garden Village (both on Dwight Way) Stonefire Apartments on Milvia Street, Addison Arts and Avalon Berkeley (both on Addison Street), The Higby on San Pablo Avenue, Berkeley Apartments-Touriel and the Aquatic (both on University Avenue) and Varsity Berkeley on Durant Avenue. According to the article on www.berkeleyside.com, “When these upscale complexes were first completed the apartments were snapped up because there was a pent-up demand for newer units”, said Sorokin. Many foreign students at UC Berkeley, whose parents could afford to pay high rents, moved in.” “These people paying high tuition – their parents are loaded,” said Sorokin. “They don’t want to live in some funky, ’60s style apartment. They want nice places.” But now that so many of these units are available, the demand has dropped, he said. Units are sitting empty. So some property managers are offering a month’s free rent or are dropping prices to lure new tenants. Developers are feeling the pressure to fill buildings, too. They want to convert their more expensive construction loans to traditional bank loans, and that cannot happen until a complex is filled, he said. Lowered rents reflect those pressures. (www.berkeleyside.com) more...
The Oakland City Council has passed the Tenant Move Out Agreement Ordinance (“Ordinance”.) This new law significantly changes the way landlords can approach and buy out tenants residing in their rental units. It is important to note that the Ordinance applies to all rental units in Oakland, including units otherwise exempt from rent or eviction controls, like single family homes and new construction. The only exemption is for publicly-owned and operated housing units, which typically operate under different tenancy laws anyways. The law will also not be applicable to situations where there is no “tenancy”, such as giving money to a family member to move out, or paying a “squatter” to vacate property they have taken over. The Ordinance is effective May 1, 2018. Before Buyout Disclosure Form Landlords may no longer offer buyouts to tenants informally or on the spot. Landlords must undertake a robust disclosure process and register with Oakland’s Rent Adjustment Program (RAP) before making any buyout offer. Even accidentally violating the Ordinance can incur penalties of at least $500 per violation, in addition to any violations of the overlapping Tenant Protection Ordinance. Compliance with the Ordinance requires service on the tenant of a form developed by the RAP. The Disclosure Form is currently available on the RAP website. This Disclosure Form enumerates an extensive list of tenants’ rights in buyout negotiations, such as: The tenant can refuse to negotiate a buyout. The tenant may rescind the buyout (change their mind) up to 25 days after signing the agreement (but cannot rescind once they actually move out.) The tenant may be entitled to the relocation payments. The landlord is required to keep careful records of the Disclosure Form. Once executed by the landlord, the form must be provided to the tenant within 3 days, with proof of service. Copies of each form and the corresponding proof of service must be retained in the landlord’s records for at least 5 years. It will be convenient for many landlords to issue this form upon the commencement of a tenancy, as part of the rental agreement. Please note that although the form prepared by the RAP contains a space for the tenant to sign to confirm receipt, this signature appears to be for record keeping purposes only. The landlord’s obligation to disclose is complete when this form is delivered to the tenant, regardless if it is accepted – hence the landlord’s obligation to keep a record of service for 5 years. Certification Form In addition to disclosure to the tenant prior to negotiations, the landlord must also register with the RAP by filing a Certification Form. This form includes the owner’s name and contact information, the unit which may be subject to buyout negotiations, the date that the tenant in the unit received the Disclosure Form, and the dates of any other move out agreements “with any current or prior tenants at the property” “completed to the best of the owner’s recollection and knowledge.” The Certification Form is also available on the RAP website. There appears to be no limit to how far back in time landlords must go when reporting prior buyout negotiations. It is also unclear what the penalty might be if the landlord incorrectly identifies or omits a buyout negotiation with a current or prior tenant, but the Ordinance does authorize the City Attorney to file civil actions against landlords who violate any provision of the Ordinance. Landlords should note that the registration information collected pursuant to the Ordinance may be released, published, or otherwise made publicly available, which may or may not have personal information redacted. The City explicitly does not guarantee that personal or private information will not be released, including information contained within the buyout agreements themselves. Landlords should consider carefully what personal or business information they disclose on any papers filed with the City. During Buyout Formation The Ordinance provides several steps to standardize buyout agreements. First, the Ordinance requires all agreements be in writing, and in Spanish or Chinese if the tenant is proficient in those languages rather than English. In the case of a rental agreement not in English, the buyout agreement would be in the language of the rental agreement. If the buyout agreement is in multiple languages, all copies should be presented to the tenant at the same time, rather than a belated translation afterward. When signed, a copy of the agreement is to be given to “each” tenant “immediately” following execution. It is unclear what giving a copy “immediately” means, especially when there may be multiple tenants involved in the buyout, but landlords may wish to arrange the signing of the agreement in a place where a copy machine is available, with all tenants present, so that there is minimal delay. Landlords are required to create and retain a proof of service of this executed copy of the agreement for an unspecified period of time. Second, the Ordinance requires certain recitals of tenants’ rights verbatim from the Ordinance, which generally correspond to the disclosures required before the buyout negotiations. This language is to be in 14 point font above the tenant’s signature, although it would likely fill at least an entire page all by itself. See Sections 8.22.740.B.1-6 of the Oakland Municipal Code, available at the RAP website, for the precise language to use. Third, the Ordinance requires that agreements “must be for greater than the amount of the relocation payments to which the tenant may be entitled under Oakland, state, or federal law.” This appears to impose some kind of floor on the value paid under the Ordinance, but this vague language is unclear on what the floor would be. As of the date of this article, relocation payments are required for landlords who evict tenants to move into the unit (owner move-in), when tenants are displaced to remediate code violations, following condo conversions, or when the property is being removed from the rental market under the Ellis Act. However, because a buyout may occur without (or instead of) any of those circumstances, it is uncertain if those require payments are implicated by this Ordinance. Landlords are therefore recommended to pay at least 1 cent more than the amounts enumerated in the Uniform Relocation Ordinance to avoid a potential violation. Rescission Under the Ordinance, tenants have an absolute right to rescind an agreement after they sign it. By default, tenants may rescind up to 25 days after signing. However, they can agree to reduce the rescission period to 15 days. To rescind, the tenant must notify the landlord in writing, and if there are multiple tenants, all tenants must agree. Mailed rescissions are effective if they are postmarked on or before the last day of the rescission period, and all money paid under the buyout must be refunded to the landlord. If the tenant determines that the buyout agreement is defective in some way under the Ordinance, the rescission period is extended to six months. In the written notice of rescission, the tenant must explain the defects in the agreement. After receiving notice, the landlord has 5 days to “offer the unit back to the tenant or respond with reasons why the Move Out Agreement may not be rescinded.” However, the Ordinance also states that a tenant may not rescind a buyout after they move out, even if the buyout was defective. The contradiction between the landlord’s stated obligation to offer the unit back to the tenant after rescission, and the tenant’s inability to claim rescission after vacating has no clear answer and may have to be resolved through further regulations or litigation. Since tenants still have civil remedies available in the case of vacating following a defective buyout agreement, landlords should consult with an attorney before allowing a tenant back into the unit following vacancy and rescission. After Buyout After an agreement is negotiated and completed, the landlord must file the buyout agreement with the RAP between 25-45 days. This means the landlord must wait the full statutory rescission period (25 days), and then has 20 days to file the agreement (45 days total). Landlords should mark their calendars and set a reminder to avoid missing this deadline, and remember that the information contained in the agreements may become public at a future date. Rescinded agreements are not filed with the RAP and may be discarded. However, the fact that buyout negotiations occurred in that unit must be disclosed on any certification form filed with the RAP. Enforcement Penalties for violating the Ordinance are steep. The City is empowered to levy fines and file civil suits against landlords who violate the Ordinance, even if no tenant complains. If a tenant does have a complaint for a landlord violating the Ordinance, the landlord is liable for any actual damages to the tenant, or $500, whichever is greater. If the landlord “willfully” violated the Ordinance, then the penalty is triple actual damages, or $1,000, whichever is greater. Elderly or disabled tenants may always claim triple actual damages, or $1,000 or $1,500 minimum damages for each non-willful or willful violation, respectively. Catastrophically ill tenants are entitled to even more, with triple actual damages, or $1,500 or $2,000 for each non-willful or willful violation, whichever is greater. If the landlord wishes to challenge a tenant’s claim of protected status and enhanced penalties, the landlord can challenge that status using the same procedure as for just cause evictions, and may also raise the issue in a resulting civil proceeding. Other Provisions As stated in the disclosure form provided to tenants, landlords should be aware that offering more than one buyout to the same tenant within six months is considered harassment under the Tenant Protection Ordinance, with concordant penalties. Landlords are prohibited from retaliating against tenants who refuse a buyout. If a landlord is considering offering a buyout before issuing a termination notice, expect a retaliation defense if the tenant refuses to vacate following the notice. The Ordinance is somewhat flexible when it comes to landlord/tenant communications and forms of notice. In particular, use of email is acceptable, but only if both sides agree. Landlords who favor electronic communications should consider consent to email as a term to include in rental agreements. Without any agreement, notices served under the ordinance must by registered, first class mail. Conclusion As of May 1, 2018, buyout negotiations in Oakland are now nearly as heavily regulated as rent increases or evictions. The RAP is involved both before and after each and every buyout, and all buyouts are now a matter of public record, including any buyouts which preceded the ordinance. All landlords in the city should immediately create a record of their past buyouts, and create an organized file for all the necessary proofs of service. It is clear from the content of the Ordinance that the City and the RAP do not want landlords negotiating buyouts with their tenants. All of the responsibilities for deadlines and disclosures rest on landlords, who risk stiff penalties for even accidental violations. Landlords should consult with an attorney prior to any buyout negotiations to evaluate whether the landlord has fully disclosed, certified, and complied with the Ordinance. more...
The surplus in rental units in the Bay Area is growing, and it’s more important than ever to keep your unit the cream of the crop when leasing. In the past few years, the Bay Area rental market has been flourishing. With new companies opening and job seekers coming all over the world, it used to be easier to quickly rent out vacant units. However, there has been a trending shift lately. Companies and start-ups are finding alternative cities to plant their roots and places with less expensive leases. And the jobs are going with them. So what does this mean for homeowners with vacancies? With Bay Area rents at an all time high, we could expect rental rates to cool off in the future. The way things are going, and with the current quality of vacant units, there is a surplus of rental units. As property managers, we notice that rental unit competition is getting stiffer. As much as homeowners want to rent out their unit, so do the homeowners next door and down the street. On top of this, in order to stay ahead of the competition, vacant units are increasingly getting full remodels in bathrooms, kitchens and even curb appeal. Here are a few ways to keep your property’s competitive edge in the market and get the most returns on your investment. Bathroom The bathroom is a place of cleanliness, and keeping it simple and clean can help stir a potential tenant’s decision to rent. The good news is you don’t have to break the bank when doing a bathroom remodel. For one, keeping the plumbing where it already saves you a couple thousand dollars. Instead of replacing a whole toilet, replacing the toilet seat and cover can save hundreds of dollars. Lighting also makes a big difference, especially those around vanity mirrors. In addition, a new coat of paint can turn things around nicely as well to give the feeling of novelty. Fans and ventilation upkeep is also important as this helps prevent mold growth. Faucets, countertops, tubs/showers, cabinetry, and flooring are the more costly projects but can make a huge difference when getting a renter. The least that can be done is making sure these amenities are clean. Homeadvisor has a helpful overview guide on costs Kitchen The most common renovation requests we get in the kitchen are gas/stove range, refrigerator, and cabinetry work. If these appliances were ordered and installed not too long ago, one of the best options is to do a deep clean to give that novel feeling. If we’re talking about full renovations, much of the costs will come from designing, installation, and appliances. Here’s a helpful guide for overview costs Curb Appeal They say you can’t judge a book by its cover, but seeing a well-kept curb appeal can make a huge difference. If you really want to keep a competitive edge in the rental market, make the statement with updated yard and landscaping. Again, you don’t have to break the bank; using low-maintenance plants along with native plants can help keep prospective tenants. Lease Term Flexibility As you know, leases are commonly drawn up as a 1-year deal. However, striking up a different deal may win a prospective tenant over. One popular option we are seeing is a 2-year lease with guaranteed no annual rent increase the following year. Not to mention giving a concession such as half or a whole month off of rent is another common tactic to find tenants. Pet Although owners have a right to not allow pets, this option is becoming more common. We understand that pets may cause some damage to the property, which is why pet deposits exist. Keeping this option open will help bring in a different set of potential tenants. Copyright © 2017 Advent Properties, Inc. more...
Remember that Tax Cuts and Jobs Act that was put into law in December 2017? We sure do, and there were a couple things we need to share about it. As a summary, the new law is a reform for individuals and businesses, by lowering many taxes paid in some income brackets. There were also so changes in the Real Estate industry, which is summarized in the infographic below. Copyright © 2017 Advent Properties, Inc. Privacy Policy By Okralabs, NYC 1600 MacArthur Blvd. Oakland, CA 94602 Tel - +510.250.7918 Fax - +800.507.6593 more...
11/28/2017
How to Get your Security Deposit Back
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It's hard to imagine where to even begin when moving out of your home. Between the yes and no questions of "Do I reallllly need this?" and "I forgot I even had this", one question you may ask is "How do I get my Security Deposit back?". It's a significant and expensive question that has crossed the mind. After all, a pretty penny went towards the security deposit; why not try to get most of it back? Part of the series of common maintenance items anyone can do, we've created a list of tasks that can help maximize returning your deposit. We understand that it can be overwhelming at times, so a steady pace and the right tools can make anything achievable KITCHEN Clean refrigerator, shelves, crisper, under crisper and underfoot guard. Clean and defrost freezer. Clean Cabinet Doors Inside and Out Clean tiles and faucet fixtures. Clean floor (including under the refrigerator and stove). Check and clean garbage disposal (if applicable). Clean stove, hood, vent, and filter (all should be grease free). Clean all counter tops. LIVING ROOM, DINING ROOM, BEDROOMS, CLOSET, AND HALLWAYS Vacuum carpet, including edges. Shampoo the carpets if necessary. Carpets are preferably cleaned professionally to avoid damage. Clean baseboards and woodwork throughout the unit. Clean all blinds. Clean windows and windowsills (inside and out wherever possible). Clean and vacuum sliding window tracks. Clean air conditioner BATHROOMS Clean medicine cabinet out completely Clean mirrors Clean window and windowsill Clean all tile Clean floor Clean Bathtub, Shower, shower doors Clean all drawer/cabinets & vanity Clean hardware on faucets/shower Clean toilet inside & Out including enclosed base FIXTURES Clean ceiling fan blades Light cover Outlet Covers need to be installed GARAGE AND PARKING STALLS Stain-free from any car oil GARBAGE AND DEBRIS Remove and dispose of any debris. more...
10/24/2017
10 Common Repairs You Need to Remember
Owning a home means performing repairs – it’s part and parcel of the job. We’ve gathered a list of 10 typical repairs that you’ll want to remember if you’re looking to keep your property in top shape. Tackle That Toilet Don’t automatically blame the water pressure. If your toilet isn’t flushing up to your standards, it’s almost certainly sediment and calcium clogging the holes under the rim. You can fix this by scrubbing the area with a stiff-bristled brush. Paint Has Power For effects large and small, you can’t beat a simple paint job. Keep in mind, however, that when you haul out your brushes and rollers, sloppy paint jobs are as detrimental as sharp ones are beneficial. Good preparation – removal of fixtures or hardware that may impede your paint job, clean walls, and masking built-ins, baseboards, and moldings – is key. Give Grout New Life It happens: good grout goes bad. Take heart: using a grout-removal attachment on a rotary tool can help you remove all the grout from a shower in just a few hours. Replacing it with new color-coordinated grout can offer new life in place of that old look. Count on Caulk That sealant known as caulk is a heroic protector of floors and walls – but over the years it can deteriorate or discolor, exposing your home to the perils of moisture and mold. It’s time to install new stuff – but make sure that you completely remove the old caulk first or the new bead won’t stick. As with painting, preparation here is particularly important. Those Darn Doors Squeaking? Sticking? Don’t worry – fixing crazy-making doors can be made easy with a rotary tool and the correct attachment. If your door is sticking, use a Dremel XPR to shave the edge; if it’s squeaking, rub petroleum jelly on the hinges. Fix That Faucet The average home wastes a jaw-dropping 11,000 gallons of water each year due to drips and leaks, according to the Environmental Protection Agency. You can start the repair process by simply shutting off the faucet’s water supply – the shutoff valve is never far – and then determine your type of faucet. Compression-style faucets are most common, but keep in mind that repair procedures will differ depending on your specific brand. Shore Up Water Heaters Leaking water heaters can usually be traced to rusting at the bottom; since there is no efficient repair for this, you’ll need to replace the unit. Consider doing so with a newer, more energy-efficient model. Care for Climate Control No one wants their air conditioning conking out in the middle of summer, or their heating system faltering in the dead of winter. Before weather becomes extreme, be certain that your climate control is working properly – or stock up on fans, blankets, and patience. Don’t Dither with the Disposal Keep garbage disposals in good condition by running cold water while in use in order to move the waste down the drain; this will help grease and fats harden and congeal. Since hot water does just the opposite, avoid using it. Refine Your Floorboards It makes sense that what’s underfoot is going to get scratched. You can handle light scratches with steel wool, but break out the sandpaper for the bigger jobs. more...
Apartment hunting shouldn’t be painful. With that in mind, we at Advent have pulled together a few under-the-radar suggestions to make the process go that much more smoothly: Maintain good communication with leasing agents. This is a critical part of working together as a team, keeping everyone updated, and ensuring everyone is on the same page during the leasing process. Read. Don’t simply skim the rental ad or lease agreement – it contains information that will affect you in the future. Instead, do your due diligence in making sure that the unit provides exactly what you’re seeking, whether that’s laundry facilities or a pet-friendly policy. Once you sign the lease, make sure to read all the details, including those on utilities and addendums. Know your Fair Housing laws. Understand that these hold all real estate services to a strict policy so that everyone is treated equitably. Take pictures to jog your memory. There may be details you will either miss or forget. Pictures help. Measure the unit if you’re seriously considering it. That way you’ll know for sure whether your favorite velour couch will fit through the door. Don’t hesitate if you want to apply. Rental applications are reviewed on a first-come, first-served basis – but remember to physically tour the unit before starting the process. Check for cellular service. This is an overlooked but important item. Do you really want to pace around your apartment dropping calls every five minutes? Price and location are your two major factors when it comes to narrowing the search. These are biggies. If you don’t know that, you should. As you’re narrowing your search, also consider the management company or owner as well as specific amenities you’re seeking. Be realistic. Sunken fire pits and concierge service aren’t guaranteed, but if you look carefully, you’ll get what you need. Pay attention to fees. They’re not just put in the lease for kicks. You’ll have to pay them. Understand community rules and lease-termination policies. This can save a lot of heartache, conflict, and possible court fees down the road. If you may consider subletting in the future, make sure you can do it. See above. This too will save you some heartache and a possible conflict with your landlord or management company. Finally, check your unit for pre-existing damage when you move in. You’ll have to sign off on the move-in condition. Be sure you understand what it is so that you won’t wind up paying for someone else’s damages down the road. more...
09/12/2017
How to Update and Retain Classic Charm
Buying property in the Bay Area often means you’re getting a place with wonderful old-school charm – but how do you keep that alive when giving the home a contemporary revamp? It’s an endeavor that may take some balance and forethought, but rest assured it can be done. Here are a few things to keep in mind throughout the process. Know What You’re Getting Into You’re not buying a brand-new tract house. Living in a period home means learning to accept the quirks that come along with the charm. If your must-haves include flawless climate control or perfectly level floors, you may be out of luck. Renovations can do a lot, but they’re not a cure-all or a time machine. In other words: be realistic. You didn’t buy new. You’re not getting new. Work with what you have. Pick the Right People Restoring an older home is part art, part science, and you need someone who can understand and harness that. Do your research before settling on any particular contractor and be sure to meet with potential candidates to ensure that you’re comfortable with them and their style. Additionally, talk to people who have experience updating older homes. They’ll have specialized knowledge that can help make the process as smooth as possible. Finally, work with people who share your goal for the home. You don’t want to butt heads with the person you hire. Start Small, Stay Smart If you keep a reasonable scope of work from the beginning, you’re less likely to get overwhelmed by renovations. This is particularly important if you’re on a budget – and really, who isn’t to some degree? Start with a reasonable expectation of renovation – and consider buying smaller as well, a decision that will in turn give you fewer ground to cover. You’ll also want to consider resale value when running your numbers. Be careful not to overspend in ways that won’t increase the return on your investment. Some Quirks are Your Friend You’re not going to make your home totally modern – that’s not why you bought it. Chances are you like many of its quirks, so do yourself a favor and embrace even the ones that might prove annoying time and again. It’s your property. If you’re going to live with it, you should like it. more...
09/12/2017
Why Your Home's Era Matters
As a property owner, you should know that maintenance is not a one-size-fits-all endeavor. Rather, your home’s era and style dictate what you’ll need to do to keep it in top shape. Let’s look at a few different types of home design and the specific property-maintenance tips that accompany them. Tudor While the Tudor style first developed centuries ago, its modern usage with reference to home architecture came into play in the 19th century through a combination of late Gothic and Elizabethan elements in addition to Tudor-type details. It’s important to remember that these homes – often timber-framed – can be prone to decay. This means preventative maintenance is the name of the game. Potential problems here include dampness that could cause rotting, sagging beams that might bear too much weight, timbers that have been cut improperly during renovations, and signs of fungal attack or beetle infestation. Moreover, timber is likely present even where it is not visible – in joists, windows, and lintels above doors, for example. Make sure to contact a qualified surveyor or structural engineer for a complete evaluation of the work ahead. First steps when it comes to checking a timber frame for damage: • Look for moisture, which is timber’s biggest enemy, and try to figure out its source; • Use a penknife to prod for possible infestations – if the timber is sound, you won’t be able to penetrate it; • Maintain treated and painted beams by removing dust and dirt with a soft brush or damp cloth; do not use linseed oil, whose stickiness attracts dirt. Mid-Century Modern This popular pre-war style and its mix of natural materials such as brick, wood, and stone demand a combination of common and unique maintenance tasks. It’s important that you take the time to understand your property and its needs rather than simply rushing to repair damages. This can undercut the value of the home as well as the sanctity of its period details. Experts recommend drafting an inspection checklist to streamline the identification and repair processes. Here are some of the elements this list should include: • Six-Month Inspection: o Clean debris from gutters and spouts; o Clean and clear roofings and flashings, checking for rust, water, or other damage; o Check for cracks or damage in chimney bases and foundations. • Annual Inspection: o Check for weaknesses in chimney tops; o Note all scaling or cracks in masonry, both painted and unpainted; o Inspect all mortar joints, windows, doors, and claddings (also known as sidings) Victorian The picturesque Victorian style took hold in the mid-to-late 19th century; the name refers to the reign of Queen Victoria from 1837 to 1901. You’ll find plenty of these in the Bay Area, and while they’re beautiful, they have their own set of unique maintenance tips that you’ll want to get to know. For example, a Victorian’s early cavity walls were built to fight moisture along with improving insulation. However, these days such walls can corrode, eating away at the stability of the home in general. A few others: • Victorian architecture’s signature ornate decorative details are beautiful, but can also be dangerous if not properly maintained – ignore repair on these at your own (and your tenants’) risk; • Made to emulate early Roman floors, Victorian decorative floor tiles catch your eye and can also drain your wallet if covered with carpet or underlay, both of which trap moisture; • Keep slate roofing material and iron nails healthy by using felt to prevent corrosion and rusting. more...
As a property owner, it’s incumbent upon you to know the ins and outs of owner move-ins. Typically owners are forbidden from taking possession of a residential rental unit other than in the event of a “just cause” such as wanting the property for personal use or use by a spouse, domestic partner, child, parent, or grandparent. For an owner to take possession under a just cause, several conditions must be met. These include the following: The property must be used as the principal residence of the owner or the owner’s relative(s). An owner move-in in good faith will take place after other residences are sold or existing tenancies are terminated. To be eligible for an owner move-in, you must be an owner of record. This excludes silent partners or beneficiaries under a living or revocable trust. According to Measure EE, Oakland’s Just Cause for Eviction Ordinance, an owner of record holds interest equal to or greater than 33 percent in the property at the time of eviction notice up to and including the tenant’s surrender of possession of the unit. Three-year occupancy is required under Measure EE unless there is a good-faith reason for said occupancy failing to last this entire time. Under good faith, owners may be advised to offer the unit back to the evicted tenant due to such circumstances. Only one owner move-in is permitted every three years. Additionally, should a similar vacant unit come online before or during the eviction process and an owner decide not to occupy it, this could create a presumption of bad faith – and a possible court case. Occupancy must be taken within three months of the tenant vacating the premises. That said, if the eviction is done on behalf of a relative, that person does not fall under the same requirement. Protected groups cannot be evicted under an owner move-in. Specifically, if a tenant has resided in the unit five or more years and is either 60 years of age or older, disabled, or catastrophically ill, they fall under this category. Only one owner move-in is permitted per building. Once this occurs, no other unit may be subject to an owner move-in unless disability or hardship is proven to the proper authorities. Owner move-in notices must: Be 60-day notices at minimum Disclose all property owned by the intended future occupants Disclose any homeowner’s tax exemption claimed by the intended occupants. more...
08/25/2017
Top Five Repair Mistakes Made by Sellers
If you think that you’re saving cost and effort by selling a home with outstanding repairs, think again. Not only will this tactic decrease a home’s value, but the buyer may opt to request a credit to complete the repairs. So without ado, we present the top five repair-related mistakes made by sellers – and you’re going to want to look at this as a list of what to avoid when you put that For Sale sign in your yard. Properly Prepare the Home for Sale Your home may be your castle, but that castle better be clean as a whistle and smell good too when you go to put it on the market. Take a long, hard look at your home to determine what needs to be done. First off, odors – does your place smell like pets or cigarette smoke? If so, you need to hire a professional cleaning service to take of that, stat. Next, you’ve got to take a deep breath and declutter. Take the pictures and knick-knacks off the walls; take a scrubber to bathrooms and kitchens. In addition, you need to make sure your home has enough curb appeal to woo in potential buyers. Image matters here. But on the Other Hand … Don’t go overboard when it comes to home improvement prior to the sale. You should not fool yourself that by improving or maintaining your home, you’re adding an equal dollar value. In fact, when it comes to the latter, you’re not necessarily adding dollar value – it’s just what your buyers expect. Good Lighting Makes a Difference Sometimes selling a home comes down to whether or not you’ve got burnt-out bulbs in your lighting fixtures. In other words, if your home appears dark and dim, it will depress sellers to the point where they will move on to other prospects. This is an easy one – in addition to ensuring that you have working light fixtures, open those curtains, clean your windows, and let the sunlight in! Have Your Home Inspected No property is perfect – don’t you want to know about those flaws before the buyer discovers them? This advance notice gives you the chance to take care of important repairs, or at least communicate them to the buyer, rather than letting them find out after the fact. Home inspections – done properly and on schedule – will give your buyers the confidence they should have in you and your property. And Finally, Remember the Golden Rule Tell the truth. Providing false information – or no information at all – to buyers is lying, pure and simple. Maintain your integrity and let them know what they’re going to be dealing with if they buy your property – and assume that if you do lie, you’ll eventually be discovered anyway. more...
In the Bay Area, rent control is not a one-size-fits-all concept. Regulations vary city by city, and as a property owner, it’s vital that you know which ones apply to you. Here’s a rundown on rent control in some of the largest Bay Area cities. San Francisco Rent control covers most San Francisco tenants. The annual allowable rent increase for the period spanning March 1, 2017 to February 28, 2018 is 2.2 percent. Moreover, tenants covered by rent control may only be evicted for just cause, which includes nonpayment or habitual late rent payment, nuisance or substantial building damage, or demolition of the building. Other major components of San Francisco rent control include: • Landlords are eligible to petition for other increases such as capital improvements, which can be passed on to a tenant for a maximum increase of 10 percent. • Tenants can petition the San Francisco Rent Board for decreased rent if the landlord fails to provide services that are either legally required or mutually agreed upon – for example, utilities, parking, or storage space. Likewise, they can petition for lesser rent if the premises are not maintained as safe and habitable. Berkeley Like San Francisco, Berkeley’s rent-control ordinance regulates residential rents and requires landlords to only evict for specified good-cause reasons. Most buildings with two or more residential rental units or more that were built before June 30, 1980 are covered; in addition, tenants of single-family homes have both rent control and eviction control if they have lived in the unit since January 1, 1996. The types of units that have neither rent control nor eviction control include: • Units in a two-unit property where one unit was owner occupied on December 31, 1979 and one unit is currently owner-occupied. • Units where the tenant shares a bathroom and kitchen with an owner who maintains the unit as his principal place of residence. Oakland Oakland tenants living in buildings with two or more units built before 1983 are covered by rent control, with the following exceptions: • Those who rent a unit in a single-family home or condominium unit from the owner. • Those who live in a two- or three-unit building with a landlord who has lived in one of the units for more than two years • Those living in any form of government subsidized housing – however, this category may still be covered by the Just Cause for Eviction Ordinance. Hayward A landlord who owns at least five units in the City of Hayward – any kind of common ownership and any percentage of ownership – falls under the Hayward Residential Rent Stabilization Ordinance. The following units are not part of rent control: • Accommodations in hospitals, extended-care facilities, and dormitories. • Publicly funded housing projects. • All units built after July 1, 1979. • Accommodations in motels, hotels, inns, tourist houses, rooming houses, and boarding houses – unless occupied for more than 30 days. • Cooperative housing owned by a majority of the residents. Fremont In July 2017, the Fremont City Council backed away from pursuing rent-control laws similar to the rest of the cities listed above. However, there are three ordinances that may be considered applicable: • Affordable Housing Ordinance, which fosters adequate amounts of housing for people at all economic levels. • Mobile Home Rent Stabilization Ordinance, which limits rent increases at mobile home parks to one per year. • Residential Rent Increase Dispute Resolution, which applies to all housing units and provides steps that can be taken to resolve rent-increase disputes. more...
08/04/2017
Why You Should Hire a Property Manager
You can handle your property on your own … right? Perhaps not. Turns out we all need a helping hand, and unless you as an owner want to spend far too much time managing business matters, it’s time to hire a property manager. With homeownership at 63.5 percent and slowly decreasing over the last decade, according to a 2016 Real Trends presentation by Steve Murray, steady nationwide rental growth is putting upward pressure on the need for property managers. Here are a few other reasons you need a property manager: When selling, you have the edge since property managers already know all the ins and outs. This not only saves time and effort, but can help you maximize your value since your property manager likely knows how to make the most of what you’ve got. An understanding of local city laws makes property managers indispensable. A smart property manager will help you steer clear of lawsuits by helping you navigate the multiple laws and regulations when renting and maintaining property while keeping the property updated and in compliance. Moreover, property managers have the know-how to advise and consult owners on tax deductions, which in turn holds the potential to save you a significant amount come April 15. Marketing your property through select and targeted channels simplifies the search for great tenants by offering a focused experience tailored to your needs. Property managers understand how to fill properties by looking in the right places and creating smart, compelling advertising materials designed to catch and hold attention. Finding and managing the right tenants is right in a property manager’s wheelhouse. He or she will handle all the details, from security checks to landlord references. Additionally, they take care of the tenant-landlord relationship, including maintenance, inspections, and issues that arise along the way. Setting competitive rental rates is a specialty of a good property management firm, which will take on a comprehensive survey of the market to nail down the right price for your property – one that will expertly walk that line between maintaining low vacancy rates and maximizing monthly income. Property managers value your time and peace of mind, allowing you to invest your efforts in other things. We treat your property as our own and work hard to ensure that it remains as pristine as possible. Savvy investors know when to outsource. Property management is one of those jobs. more...
If you’re trying to keep your rental property occupied year-round, consider taking some inspiration from your favorite small businesses. After all, they have learned to be detail-oriented and thorough when it comes not only to purchases and staffing, but also with their time and effort. Lift a page from their book and you’ll see your business take a decided leap upward. Hire the Right People Many small businesses make a practice of hiring freelancers to tackle specific business-related tasks. A few such freelancers who may be applicable to property management are: • Property management service companies are your go-to – particularly when you don’t live in the same area as your rental property. Such firms are qualified to manage all tenant-related responsibilities, guest experiences, and maintenance issues. • Professional photographers who can provide high-quality shots represent a small investment that can pay off big going forward. Make sure you trust a photographer’s artistic sense and judgment and they’ll become a major tool in your arsenal. • Maintenance professionals and contractors can handily take the place of a full-time staffer dedicated to upkeep. Sites such as Craigslist and Angie’s List allow you to post jobs and also hire professionals for tasks such as cleaning, plumbing, and installations. Does It Add Long-Term Value? With every new element you add to your rental property, you’re making a long-term investment. It’s therefore important that you make purchases mindfully in order to be certain that you will see a return on the investment. Here are a few questions to ask yourself when considering a purchase for your rental property: • Does it add long-term value? • Will guests use it? • What costs, if any, will be added as a result? These include insurance and taxes. • Are extra costs worth it to you at this point in the game? • Does this investment have a high upside? Other Tips and Tricks Here are a few other ideas used successfully by small businesses – and these ideas can translate beautifully into owning and managing a property: • Consider converting one room in your rental property into office space to diversify possible uses – and consult your property manager for the legalities surrounding this move. • Use online tools to handle your web presence, thereby freeing you up to pursue more property-specific tasks. • Automate your redundant tasks such as updating online calendars after a booking, sending emails to guests upon a booking, and updating listings and availability calendars on various outlets. Many if not most of these tasks can be handled by vacation rental dashboards. Your property is your small business. Treat it as such! more...
08/04/2017
How to Keep Your Tenants Happy
As a property owner, you’ll find your tenants a main priority – and occasionally a source of stress. Given that you’re counting on your tenants in many ways – primarily to pay the rent so that you can in turn make the bills – it’s key to keep your tenants satisfied. Here are a few tips on doing just that. Maintain Open Communication Swing that door wide and allow your tenants to communicate freely with you. Address all problems quickly – that includes repairs – and don’t hesitate to answer the phone and/or respond to emails promptly. Your or your property manager should make it a priority to respond to tenants within 24 hours at latest. Don’t Dilly-Dally with Deferred Maintenance Tenants should know that you’re committed to keeping your property in good shape – and, in fact, this will often entice them to stay longer. Make yourself available for maintenance requests and handle them in a timely manner, while at the same time making cosmetic improvements such as a paint job and professional carpet cleaning on a reasonable schedule. Finally, take your time getting the right furnishings for your property – in the end, this will cost less than having to keep fixing old ones. Maintain Professionalism Think about the qualities you’re seeking in a tenant – respectful, responsive, and mature – and know that they’re likely looking for the same in you. A little friendliness and flexibility will go a long way in establishing professional demeanor and a good landlord-tenant relationship. Promptly Deal with Disruptive Tenants There’s always that one rotten apple. If you’re a landlord long enough, you’ll find it – but you can mitigate the damage from a difficult tenant. Nothing pushes away good tenants more quickly than an obnoxious neighbor who stomps on the floor, yells incessantly, and thinks nothing of playing the drums at three in the morning. Don’t let that happen. Let Tenants Know They’re Appreciated Without overstepping boundaries, it can be touching for one’s landlord to be considerate and thoughtful. A holiday card, for example, is a small sign of appreciation that will be remembered. more...
There are two words that can cause huge headaches in the world of property ownership: deferred maintenance. Essentially, investors and property owners often do not spend a sufficient amount to make crucial repairs and renovations – which in the long run can become more troublesome than simply keeping up with maintenance over time. However, maintenance issues are far from the only misstep seen in this circumstance. Making a good living off real estate in any economic environment requires avoiding the classic mistakes that all too often see the light of day. Here they are, and though there won’t be a test at the end, you still get credit for taking notes. Lack of due diligence. Would you buy a car without test-driving several? How about a computer without researching specs? If the answer to these questions is a resounding no – as well it should be – then research is doubtless part of your purchase process. Right? Your specific type of research depends on whether you are a prospective homeowner, future landlord, land developer, or home flipper. However, what is universal is the need to ask plenty of questions about not only the home but the area in which it is set. Remember location, location, location. Going it alone. No property purchaser is an island. Even if you’ve closed a number of deals in the past, you may not be adequately prepared for the current market – something you need the help of experts to achieve. These include a sharp real estate agent, a competent handyman, a savvy attorney, an eagle-eyed home inspector, and a detail-oriented insurance rep. Getting the financing shaft. Exotic mortgages may largely have exited stage left with the blowup of the North American real estate bubble ten years ago, but we’re still seeing financing options designed to squeeze unqualified buyers into more home than they can legitimately afford. Keep in mind that opting for adjustable/variable loans or interest-only products may mean you’re going to hurt when interest rates inevitably rise. The goal? Knowing you have the financial resources to make payments should rates spike, or a Plan B to convert to a more conventional product if need be. Failing to adequately estimate expenses. The mortgage is just the beginning of what you should plan to pay when preparing to own a home. Keep in mind that you’ll be on the hook for property taxes and insurance, furnishing the home, installing elements such as new roofs and foundations, and keeping up with ongoing maintenance costs. Forget these items at your own peril – instead, make a list of monthly expenses and be sure they fit your budget before going house hunting. Paying too high a price. See again the idea of doing your due diligence before getting in too deep. It’s perfectly natural, particularly in a competitive market, to jump if it appears a seller may accept your bid, but that doesn’t excuse paying too much for too little. Don’t let your anxiety translate to an overly ambitious bid or you’ll be looking at years of debt as a result. Here’s the bottom line: research is key before investing in property. Give it short shrift and you’ll feel the pain down the line. more...
One major upside to property ownership is the power of tax deductions and write-offs. Did you know, though, that there are deductions and write-offs that extend far beyond the traditional ones such as mortgages? Let’s explore. Renewable Energy Efficiency Property Credit Your bottom line may benefit from installing home equipment that harnesses renewable energy sources such as wind and sun. Provided you installed said equipment by the end of December 2016, you are eligible for this tax credit to the tune of as much as 30 percent of its cost, including installation. The Solar Energy Industries Association finds that about 700,000 American homeowners have installed solar equipment since 2010, making this credit ever more popular as time goes on. Residential Energy Credit Likewise, if you have worked to make your home more energy-efficient through installing new windows, asphalt or metal roofs, insulation, storm doors, heating systems, or air conditioning, you may be eligible for a tax credit up to $500. The credit has been extended through year-end 2016, and not taking advantage of it is tantamount to leaving money on the table. 1031 Exchange If you have exchanged property held for use in trade or business, or held for investment for a like-kind property also to be used for such purposes, you may qualify for tax deferment under Section 1031. Such an exchange may constitute something as simple as a property swap, delayed exchange, or simultaneous exchange – but beware as it can get more complicated from there. Property Tax Deduction You’re entitled to deduct real estate property taxes on Schedule A. You’ll find this amount on your annual escrow statement if you have a mortgage with an escrow account. In addition, if you bought a home this year, consult your HUD-1 settlement statement to confirm if you paid any property taxes when you closed on the home – these are deductible too. Charitable Contribution Deduction If you itemize, you will be able to deduct charitable contributions or money or property made to qualified organizations. You’ll typically be able to deduct as much as 50 percent of your adjusted gross income, but some cases limit that amount to 20 or 30 percent. more...
What homeowner doesn’t want his or her property value to go up? Question is: what are the smartest ways to make this happen? In answer, we present 10 wide-ranging, comprehensive ways to bolster that value in the most efficient way possible. • Come hither, curb appeal. How does your home look to a prospective buyer? To get a fresh set of eyes on the situation, look critically from all angles. Keep the following in mind: accentuate the positive, eliminate the negative. Those aren’t just song lyrics. They’re good advice. • Emphasize energy efficiency. Get an energy professional to do an audit on your home, then follow his or her recommendations. They may include plugging leaks, shoring up insulation, sealing ducts, or installing a programmable thermostat to make climate control more efficient. • Pull out the paintbrush. You’d be amazed what a fresh coat of paint can do for the appeal of your home. You might also try refreshing your cabinets with a faux-wood finish – simple and effective. • Prioritize property care and maintenance. It’s simple logic: a house that is properly maintained will not only show better, but sell more quickly and with fewer hitches. The idea of properly caring for your property touches every aspect of the home, from the insulation in the attic to the grass in the front yard. A simple rule of thumb: if you think it needs to be fixed, it does. • Maintain rent at market levels. This is as key to maintenance as unplugging toilets or replacing kitchen fixtures. Your property value is largely determined by the amount of rent that is collected. Don’t cheat yourself. • Cleanliness counts. Your place may look good to you, but look again with a set of fresh eyes. Do you need to scrub the tub? Declutter the living room? If you need to bring a friend in for an objective perspective, do it. • Remodel in a reasonable manner. Make upgrades based on intent, not impulse. Ballpark costs should be around 20 to 25 cents on the dollar, with the rest going directly toward increased home value. • Smart small. Little steps can you take far if you persist. Try making two lists: upgrades you want to make for yourself and those that will add to your home’s value. Try doing a little bit of both through a methodical approach and you’ll be surprised at the results. • Go room by room. Take that methodical approach a step further and work one room at a time. This not only keeps your improvement projects manageable, but it will likely spare your sanity. • Kill ‘em with kitchen kindness. The kitchen is the number-one place where you’ll see return on your investment, so make it a priority. Some design suggestions: a mobile center island, stainless-steel appliances, and install a pot rack and wine-bottle holder. This presents a mix of the practical and the pretty – and the combination works. Don’t be daunted. Take it one step at a time and you’ll succeed! more...
With the East Bay Municipal Utility District board’s recent decision to raise water rates by 19 percent over the coming two years, there’s never been a better time to concentrate on minimizing your water consumption. Let’s look at a few methods to help you turn down the tap while at the same time continuing to maintain your property in top shape. Yes, it can be done. Water-pipe insulation. You likely have uninsulated pipes right now, which causes water to go through unheated areas and use more energy to heat up, but that’s an easy fix. By taking advantage of pre-slit foam pipe insulation, you’ll enjoy faster access to hot water while slashing waste during the heating-up process. Materials are available at most hardware stores, and it’s easy to snap the insulation over the pipe and then tape the ends closed over the split. Leak elimination. Did you know that a tiny drip from a worn-out faucet washer can result in wasting 20 gallons of water daily? Expand that out and you’ll find that larger leaks can waste hundreds of gallons each day. A simple yet thorough check of faucets and pipes for leaks can minimize or eliminate this amount of waste. Also, checking your water meter for hidden leaks can be very revealing. Planting drought-resistant yards. Whether you’re creating a lawn from scratch or overhauling an existing one, drought-resistant grasses such as Zoysia or common Bermuda grass are the way to go. If you replace herbaceous perennial borders with native flora, you’ll not only use even less water, but enjoy better protection against local plant diseases. Slopes will benefit from water-retaining plants that help slash runoff, while grouping plants according to watering needs simplifies matters. What’s more, you’ll add curb appeal to your property, which in turn increases value. Installing water-sensitive shower heads and faucets. Choose cost-effective low-flow shower heads or restrictors to reduce water consumption and limit your showers to the time it takes to scrub up and rinse off. Moreover, fit all household faucets with aerators, which are not only a major tool in the conservation arsenal but are also very affordable. Harnessing the trusty toilet. Here is the place where you can save an impressive amount of water if you follow a few simple guidelines. First, don’t dispose of waste by flushing it down – this wastes gallons upon gallons. Additionally, you can cut down on water waste by weighing down a pair of plastic bottles – an inch or two of sand or pebbles should do the job – and then filling the bottles with water, screwing on the lids, and placing them in your toilet tank away from any operating mechanisms. Simple, affordable, and effective. Remember: conservation isn’t simply about saving money. It’s about saving precious resources. We can and should all do our part. more...
07/17/2017
Are you Staged for Success?
When staging a home, how much of it really matters? According to a study from National Association of Realtors, 62% of sellers agents say that staging a home decreases a number of time homes spend on the market. Not only does staging decrease time on market, it can actually increase your property's value by as much as 10%. Staging a property allows potential buyers to get a feel for the home. Every visualization and opinion of a home begin with how the home is staged, and appealing to the largest number of potential buyers is crucial. The living room is the most important room in a stage. After all, this is usually the most commonly used room, followed by the kitchen and master bedroom. The yard and outdoor space are close behind while the guest bedroom is considered the least important room. Beyond staging, there are some common home improvement projects that benefit any property going on the market. For example, decluttering and cleaning the entire home is highly recommended. Other small projects include depersonalizing the home, removing pets, and making minor repairs. more...
If San Leandro, CA hasn't been on your radar lately, it's time to add it. Economic and Area Data - Retail and Commercial Vacancy rate has decreased from 3.8% in 2010 to 2.2% in 2015 - Rental rate has increased from $5 per square foot in 2010 to $8 in 2015. Since 2010, there has been a noticeable shift of more businesses moving to the area, resulting in less vacancies and higher rent all over. It's a good sign of growing value in San Leandro. Points of Interest - New San Leandro Tech Campus brings small tech boom in San Leandro - New Kaiser Permanente in San Leandro beings more employment in healthcare. - San Leandro Beer Craze with Drakes, Cleophus, and new 21st Amendment Brewery Since 2014, new businesses have been opening in San Leandro, creating more jobs and buzz about the city. Opportunities in Healthcare, Tech, and culinary scene are driving more interest into the city. This is adding on to many other points of interest, such as BART, Marina shopping outlets, and Costco among many others. Moreover, San Leandro offers some of the highest fiber internet to businesses, ramping it up to 100 Gigabytes per second. It's also known for its food operations for companies like Ghirardelli and Coca-Cola. What are your thoughts about San Leandro? 1600 MacArthur Blvd. Oakland, CA 94602 Tel - +510.250.7918 Fax - +800.507.6593 more...
07/07/2017
Are you a culprit of these food crimes?
Did you know America throws away an average of 40% of food? We’re throwing away too much. Most of us are throwing too much good stuff – recyclable and compostable items - into our garbage containers. Compostable items such as food and food-soiled paper are an especially big problem. Residential households and units can also save money if they pay variable rates for trash. By making small shifts in how you shop, prepare, and store food, you can toss less, eat well and save money. Here are five easy ways to help stop food waste. Store apples up to seven days on the counter, then refrigerate. Keep apples away from bananas and avocados because they speed ripening. Keep tomatoes by storing them on the counter, vine side down. Transfer them to the refrigerator when fully ripe. To keep bread from drying out, store all types of bread in a breadbox, not the refrigerator. Old or hard bread can be saved for later by turning them into croutons. Shop smarter by buying only what you need until the next shopping trip. Buying fresh ingredients in smaller quantities also helps. Got leftover pasta? Give it a new life by turning it into a pasta frittata. Find more helpful tips and tricks at stopfoodwaste.org. 1600 MacArthur Blvd. Oakland, CA 94602 Tel - +510.250.7918 Fax - +800.507.6593 more...
Michael Pang Recently, Fannie Mae made changes that could affect fixed-rate mortgages and student loan refinancing. As of June 29, the 30-year fixed-rate mortgage is down to 3.88% from 3.90% two weeks ago. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.48%. Additionally, the 15-year fixed-rate mortgage averaged 3.17% and has maintained this rate the past two weeks. At this time last year, the 15-year fixed-rate mortgage was 2.78%. We can see the effects of the interest rate hikes from March, after the Federal Reserves raised its benchmarks. The higher rates are a signal of a stronger economy, which is also associated with a stronger real estate market. As the economy continues to grow, we can expect two more rate hikes by the end of 2017. And for the borrower with student loans, refinancing just got easier. Fannie Mae announced new policies that address challenges of homeownership due to significant increases in student debt over the past decade. The new solutions give homeowners the opportunity to pay down student debt with a mortgage refinance. The new policy also widens the borrower’s eligibility to qualify for a home loan by excluding debt-to-income ratio on non-mortgage debt. These include credit cards, auto loans, and student loans, paid by someone else. 1600 MacArthur Blvd. Oakland, CA 94602 Tel - +510.250.7918 Fax - +800.507.6593 more...
06/30/2017
Creating Curb Appeal
Michael Pang Brought to you by California Association of Realtors Homeowners spend a lot of time renovating home interiors; but outdoor landscaping plays a huge role in property value as well. It makes sense. When it comes to first impressions, having a distinct curb appeal not only helps the environment; it can greatly increase the value of your home. According to an article in SFGate, landscaping work can increase property value by 5.5 to 12.7 percent. Moreover, the added value of plants, shrubs, and other vegetation grows over time, unlike appliances and furniture that can go out of style. Adding sophisticated landscaping designs along with easily manageable plants can do wonders for your property. more...
Hiring a property manager can be difficult. Hiring a stellar property manager that gets you and understands your property's needs is nearly impossible. Finding the right property manager for your property can be a long process, but it doesn't have to be. Before you jump into it, don't be afraid to ask the property manager some questions. Asking the right questions and getting the answers that make sense for your needs is paramount to the long-term success of your property. And, like any good relationship, communication and trust are the hallmarks of a successful partnership. Following is a list of twenty questions to help you on the road to selecting your best property manager: Why should I use a property manager? What are some benefits of hiring a property manager? What professional property management designations have you worked with? What makes Advent Properties, Inc. different from other companies? Should I allow pets in my rental? Can I get more rent? How am I protected? How quickly do you respond to maintenance requests? How long will it take to lease my home/apartment? Can I cancel my contract if I am unhappy with your services? What geographic areas do you cover? How many employees do you have? Does one person only handle my property? How much money should I be setting aside for repairs/maintenance? Do you make me keep a reserve fund with your company? What happens if a resident doesn’t pay rent? Do you create 3-day notices? Do you know about rent control? What is rent control? What is eviction control? Do you manage commercial property? Do you manage multi-family property? How do you handle roommate move outs? If you have any questions, please call us at 510.500.7531 or email at pm@adventpropertiesinc.com to discuss and answer these questions. The Advent Properties, Inc Team looks forward to working with you. F more...
Welcome to your beautiful 4 bedroom 3.5 bathroom home! Featuring two levels, modern kitchen cabinets, functional switch-activated fireplace in family room, double pane energy efficient windows, large den and an adorable front porch. This residence has all the amenities you could want! All four bedrooms feature spacious closets, an abundance of natural lighting, ensuite bathrooms and comfortable wall to wall carpet make this a relaxing oasis. Open floor plan, equipped with an open kitchen concept, for the chef in all of us. Transition from chef to host in a blink of an eye. Modern kitchen features breakfast bar, abundant counter space, dishwasher, garbage disposal, and stainless steel appliances. Your home features a two car garage, alarm system and washer/dryer for your convenience! https://youtu.be/cwiRWPgc7jU more...
Imagine spending your day shopping at upscale stores, meeting friends at the local café and checking out the latest movies...now you can live mere steps from all this! This eclectic urban community offers a unique contemporary atmosphere where you can play and live! Emeryville is the new "it" city. Come and join the excitement! more...
Newly remodeled sunny and distinguished apartment home on the second floor. Unit is equipped with double pane windows in a well-maintained and charming vintage 1920's bldg. Your studio apartment home features an abundance of natural light let in through beautiful large windows. A separate linen closet at entry and an enormous separate second closet in the living space. Kitchen has new cabinets, beautiful countertops, spacious bathroom, nice finishes, and beautiful brand new plush carpet. more...
Located in the coveted and whimsical neighborhood of North Berkeley; surrounded by natural landscape. Enter into this wonderful spacious home and be amazed and inspired by the North Berkeley neighborhood. more...
Beautiful two-bedroom, one bathroom apartment in a newly painted 10 unit building that adjoins George Florence Mini Park. This apartment home features a remodeled kitchen including new gas stove, refrigerator, quartz countertops and an abundance of cabinet space. Enjoy your morning coffee on your private patio! Coin operated laundry and assigned parking for your convenience! more...
Cozy one bedroom apartment available for rent in West Oakland. This home features an open kitchen concept, equipped with gas stove and ample cabinet space. Spacious bedroom with an abundance of closet space. Unit also includes newly installed washer and dryer combo. Your home features access to a shared backyard area for your convenience. more...
Download File Lovely 3 bed, 1.5 bath townhome in the Castlemont Neighbor hood just listed for sale. Come enjoy the spacious back yard on these warm Spring and Summer evenings. Open House 5/7/17 from 2pm - 4pm more...
This elegant and distinguished duplex features two bedroom and two bath with modern features. This is a North Oakland treasure! The gorgeous front entrance welcomes you with an abundance of greenery, flowers, and an expansive front porch. This home features dramatic architectural detailing, newly installed double pane windows and gorgeous hardwood floors making it a truly fabulous home. https://youtu.be/IAVbD6V2tdI more...
Welcome to your charming 2 bedroom 1.5 bathroom unit. Large living room has fresh new carpet and an abundance of natural sunlight. Roomy kitchen is equipped with bright white appliances and lots of cabinet space. Your back door leads to covered parking and shared laundry room. more...
https://youtu.be/2rPO9eVVXFI Spacious live/work loft located in the historic "Besler Building". The spacious loft is located in the heart of Emeryville. This fantastic loft is one of the first live/work loft projects in the Bay Area. This wonderful home is equipped with high ceilings, large windows, and open space. Open style kitchen with full size refrigerator, gas range and dishwasher along with a stylish island counter-top. Abundant cabinet space. Tiled bathroom with soaker tub/shower. This wonderful space awaits you! more...
This beautiful three bedroom and 3.5 bathroom condo is simply stunning. Featuring three levels, cherry hardwood kitchen floors, double pane energy efficient windows to maximize heat. This residence has all the amenities you could want! All three bedrooms feature spacious closets, an abundance of natural lighting, ensuite bathrooms and comfortable high endwall to wall carpet make this a relaxing oasis. Open floor plan, equipped with an open kitchen concept, for the chef in all of us. Transition from chef to host in a blink of an eye. Modern kitchen features granite counter-tops, wood flooring, breakfast bar, abundant cabinet space, dishwasher, garbage disposal, and stainless steel appliances. Your home features a community club house, a two car garage, alarm system and washer/dryer for your convenience! https://youtu.be/i-RkO329zck more...
Come join us on Friday Evening for Wine and Cheese Open House. Enjoy the city views of this delightful 3 bedroom 2 bath home in the San Leandro Hills. See you at your new home! more...
Come see this home! 14636 Saturn Drive is an adorable 3 bedroom 2 bathroom home in the San Leandro Hills. Come home to cook in your Chef's kitchen while admiring the abounding views. Updated flooring throughout. Open House Sunday April 2, 2017 from 2pm-4:30pm See you there! more...
03/28/2017
Sale Pending 717 32nd St!
Advent Properties, Inc is in Escrow for the sale of this property. More details to come soon! more...
717 32nd St, Oakland, CA is a charming remodeled two-bedroom one bathroom home with bonus room in West Oakland. It has a unique open layout that is perfect for entertaining. Bonus room can be used for home office or third bedroom. House offers off street parking and nice back yard space. Open House Sunday March 12, 2017 from 2-4pm. See you there! more...
03/09/2017
5687 Miles Unit 6 Dream Living
Welcome to this sleek, modern, one JR bedroom one bathroom; SOMA loft inspired apartment in the heart of Rockridge! You will initially be greeted by a chic and sophisticated lobby. Your completely renovated home features wood floors living room/kitchen combo, an all around amazing open floor plan with over sized windows that will greet the morning and afternoon sun. Gaze at the wonderful Rockridge city scape. Feel the energy. Be part of one of the most popular areas in Oakland. You will not want to miss out on a chance to call this home! https://youtu.be/Qg4zGroqnYc more...
11/21/2016
Advent Thanksgiving 2016 Business Hours
Advent Will Be Closed 11/23 though 11/25 Advent Properties will be closed Wednesday, November 23, 2016, through Friday, November 25, 2016, for the Thanksgiving Holiday. We will return to regular business hours Monday, November 28, 2016. If you have an Emergency Maintenance Issue, please call our Emergency Maintenance Number. 510.488.4435 If your maintenance issue is not an emergency, please submit your request online. What Constitutes An Emergency? 1. Major Water Leaks: There are two types of water leaks: those that can wait, and those that can't. If the leak can be contained in a bucket until a maintenance person is available, it probably isn't considered an emergency. (Small leaks underneath a kitchen sink, for example, can likely wait.) A gushing broken pipe, on the other hand, is most definitely worth a call to the emergency maintenance line. 2. Heater Not Functioning: If is below 50 degrees outside and your apartment heat isn't working, bundle up and give the emergency maintenance line a ring. 3. Potential Gas Leak: If you suspect there is a gas leak in your apartment, call maintenance ASAP! Gas is easily ignited and is poisonous if inhaled in large amounts, so it's important to act immediately. You'll know there's a natural gas leak from its telltale rotten egg smell. Be sure to turn off the malfunctioning appliance and its gas supply line, then leave your apartment until repairs can be made. 4. Power Outage: Any major electrical failure, be it inside your apartment or in lighted outdoor areas, is considered an emergency. Before you contact maintenance, however, be sure you've tried resetting the circuit breakers, resetting the GFI breakers on your outlets, and you've checked any fuses that might be burned out. 5. Appliances Not Working: If any of your major appliances, such as the stove or refrigerator stop functioning properly, please submit an online maintenance request using the link above and we will have it fixed as soon as possible. Safe Travels and Happy Thanksgiving! - Team Advent more...
11/01/2016
Advent Celebrates Halloween 2016
Team Advent Dresses up for Halloween Advent's 2016 Halloween Party was a huge success! We saw everything from Pirates, Little Red Riding Hood and even Harry Potter! The team had the opportunity to vote for who they thought had the best costume. The results are as follows. 1st Place went to Tammy Chiu, our Accounting Specialist (Little Red Riding Hood.) 2nd Place went to Benjamin Scott, Our President/CEO (a Pirate.) And 3rd Place went to Darryl Glass, our General Manager (Harry Potter.) Everyone's costumes looked great! Great job team! ? more...
Advent celebrated Halloween early this year with the "Annual Pumpkin Decorating Contest Team Lunch!"Everybody was given one hour to make their pumpkin either as spooky or crazy as possible! We saw everything from crazy hair to "Donald Trumpkin." Check out all of our teams creative work in the slideshow below. Don't forget to check out all of the pumpkins in our front office next time you're here! more...
09/02/2016
Office Closed: Monday, September 5, 2016
Closed for Labor Day! Advent Properties will be closed Monday, September 5, 2016 in observance of Labor Day. We will return to regular business hours Tuesday, September 6 at 9:00am. Have a safe and fun holiday! -Team Advent Instagram: @adventpropinc Twitter: @adventpropinc more...
A recent study confirms that Bay Area rents are plateauing! An article in the San Francisco features quotes from Advent Properties Founder/CEO, Benjamin Scott. “Things are definitely slowing down,” said Benjamin Scott, founder of Advent Properties, which manages rentals in San Francisco and the East Bay. “We are seeing a lot of concessions ... especially in SoMa, where there has been a glut of new apartment properties coming online at once.” Those concessions, such as reduced deposits or a month of free rent, “are reverberating” throughout the city. Scott’s firm has had a two-bedroom apartment on Sumner Street on the market at $3,495 for a month. It has had a one-bedroom condo on Buena Vista Avenue with parking, also at $3,485, on the market for three weeks. He said some owners are reluctant to lower their rent because they upgraded the property in anticipation of rising rents, or the unit is rent-controlled and they don’t want to lock themselves into a lower rent. To read the rest of the article, click here! more...
07/22/2016
Advent Listed in Expertise Top 20
Advent Properties has been selected as one of the Top 20 Property Managers in San Francisco by Expertise! This ranking is determined based on the companies reputation, credibility, experience, availability, professionalism, and engagement! Click here to read the rest of the article. more...
07/01/2016
Advent 4th of July Office Holiday Hours
In observance of the 4th of July, our office will be closed on the following days. Monday, July 4th, 2016 and Tuesday July 5, 2016. We will be open for normal business hours on Wednesday, July 6, 2016 at 9am. Have a safe and Happy 4th of July! -Team Advent Emergency Maintenance # 510.488.4435 Maintenance Non-Emergency: www.adventpropertiesinc.com (Maintenance request form) Don't forget to Like, Follow and Subscribe to all of Advent's Social Media. See the links below: "Like" Us on Facebook Follow Us on Twitter Follow Us on Instagram Subscribe on YouTube more...
25 Rydal Court This elegant and distinguished two-level home features three bedrooms and three baths with modern features. This is a Piedmont Pines treasure! The gorgeous front entrance welcomes you with an abundance of greenery, an expansive drive way., beautiful exterior, two car garage and an expansive front porch in a wonderful tree lined cul-de-sac. The views from this home are magnificent from many separate rooms! Sit and be inspired! This home features dramatic architectural detailing, stunning wood framed windows, vaulted ceilings, and gorgeous hardwood floors making it a truly fabulous home. This abode offers the perfect location including tree lined streets that are moments away from the best in dining and shopping. Living room and formal dining room features elegant hardwood floors and large windows to capture in the morning sun. For your traditional focal point, a grand fireplace that will leave guests in awe! Recently renovated modern kitchen features, Quartz stone countertops, custom kitchen cabinets and top of the line kitchen appliances including Kenmore stainless steel refrigerator, Frigidaire gas stove/oven and a Bosch dishwasher. With boundless amounts of counter and cabinet space you can let your inner Chef shine! Split- level floor plan with three bright and spacious upstairs bedrooms featuring custom closets with beautiful drapes, for elegance and functionality. Spacious bathrooms! Additional bonus space available with bay views with full bathroom for added convenience. For more information, please call 510.250.7918 more...
6119 Outlook Ave Sweet 1920's Craftsman Bungalow in Mills Gardens available. Be the first to live in this beautiful and tastefully remodeled home! Prepare to be impressed by how this great home looks. This spacious two bedroom, one bathroom floor plan has it all! https://youtu.be/uklroDznQ4s Spacious living room area where you will feel right at home. The open kitchen comes with a gas range and convection oven, refrigerator and dishwasher. The washer and dryer are included! Details galore! Two bedrooms with an impressive bathroom all painted in warm neutral paint colors. Private sunny back deck and beautifully manicured low maintenance front yard and back yard lawn areas. Your perfect urban oasis. Spacious garage for additional storage available. Live clean, green and healthy in a smoke free environment where pets are welcome and life is good. For more information, contact us at: 510.250.7918 more...
06/09/2016
North Oakland Modern Home Available!
Contemporary three bedroom, one bath home available in Oakland's premiere North Oakland neighborhood. This home is a beautiful urban oasis! Nestled on a tree-lined street, this residence features a spacious front yard. Just in time to enjoy those sunny summer days on your expansive front porch! https://youtu.be/h0_GXlSCEUY This home has been completely renovated with exquisite detailing. Newly painted interior, vaulted ceilings, and gorgeous hardwood floors making it a truly fabulous home. This abode offers the perfect location including moments away from the best dining and shipping. The wide variety of restaurants in the neighborhood includes: Homeroom, Burma Superstar, Hogs Apothecary and Bakesale Betty. The home is fully remodeled and features stylish modern design. Updated kitchen equipped with stainless steel appliances. Newly updated bathroom. Energy efficient double pane windows. Large basement with abundant storage room. Consider this residence your own personal retreat! A must see! more...
Come experience the splendor of this South Berkeley town home! The spacious 1300 foot two bedroom, two bathroom apartment includes an office/bonus room, that can easily be converted as a third bedroom with an en suite bathroom. This open floor plan home provides a long list of amenities so you will experience what it truly means to be a Berkeley resident. This modern interior decor includes soaring ceilings, hardwood and tiled floors, vaulted ceilings, skylights and double pane energy efficient windows. The large kitchen is located in proximity to your spacious open living room area with stainless steel appliances to satisfy all of your culinary needs. You will find a gas-fired stove, refrigerator, dishwasher and ample cabinet space. Stone counter tops will complement the functional style of this custom area. Each of the bathrooms is comprised of lavish details built to accommodate true comfort. Spacious bedrooms allow you to unwind and relax. A private patio is perfect for watching the sunrise or enjoying conversation of those in this wonderful town home community. https://youtu.be/P1DpA7Pgvac more...
05/25/2016
Loft in Oakland Available Now!
Tom Dolan-Designed True Live/Work loft deal for Artisans or those with artistic flair. Soaring ceilings and concrete floors, newly painted walls. Industrial windows bathe the loft in light. The central courtyard with fountain is a great place to socialize or relax in the tranquil environment. https://youtu.be/yDen6tdABy4 Cathedral ceilings will inspire! Concrete floors will welcome you. Where have the lofts gone? Many "folks" have asked. Well look no further. A true loft, to be lived in, memories created and a home to entertain. An open floor plan, for those who are looking for the loft experience, you will not be disappointed. For more information on this stunning loft, please call: 510.250.7918 more...
Contemporary two bedroom and two bath home available in Oakland's Grand Lake neighborhood. This home is a beautiful urban oasis! Nestled on a picturesque tree-lined street, this residence features a spacious manicured front yard and an enclosed expansive front porch. Wonderful city scape views from both upstairs bedrooms. Your home has all of the touches of yesterday, with a taste of todays remodeled and stylish design, living room with gleaming hard wood floors. Artfully remodeled kitchen and baths, light filled open floor plan with walls of windows and doors leading to an enormus downstairs room that can be used in multiple ways. Updated kitchen equipped with granted countertops. Newly updated bathrooms. Large basement adjacent to a full bathroom, with abundant storage and shelving. Consider this residence your own personal retreat! A must see! For more information: 510.250.7918 https://youtu.be/irsiDM88gaw more...
05/23/2016
18801 Mt. Lassen Dr.- Open House!
Beautiful three bedroom, two bath home, nestled in the Palomares Hills. Carpeted throughout, this home features an open floor plan with formal living room, fireplace, plantation shutters, formal dining area and a bay window seat to enjoy the neighborhood. [video width="1280" height="720" mp4="/images/blog/2017/09/18801-Mt.-Lassen-Dr.-Open-House-.mp4"][/video] The living room opens to a gorgeous, manicured backyard with patio and gazebo-style covering. The living room leads into a spacious eat-in-kitchen. Large main bedroom suite features high ceilings, two over-sized separate closets, newly remodeled en-suite bathroom with granite counter-tops, double sink, soaker/shower bath. The spacious second and third bedrooms feature windows that capture the midday sunlight. This home includes recreation center access with community swimming pool, tennis courts and basketball courts. There are also hiking trails and parks in close proximity! Open House Where: 18801 Mt. Lassen Dr. Castro Valley, CA 94552 When: Sunday, May 29, 2016 2-4pm Contact Benjamin Scott for more information. Phone: 510.289.1184 Email: bscott@adventpropertiesinc.com more...
05/18/2016
Advent Is Now On YouTube!
Advent now has a YouTube Channel! Here you will find beautiful videos of our latest available properties and other videos from Team Advent! To your right are a few examples of what you can expect from our new channel! Click here to go directly to Advent's YouTube Channel. "Like" Us on Facebook Follow Us on Twitter Follow Us on Instagram Subscribe on YouTube https://youtu.be/lAnH4Wm8S48 https://youtu.be/nCYMTXa_km4 more...
On May 24 at 1pm, the Oakland City Council's Community and Economic Development Committee will consider placing a measure on the November ballot that would extend rent control to owner-occupied duplexes and triplexes. The proposed measure was written by tenant activists and includes a slew of punitive provisions including: Extending rent control and Just Cause for Eviction protections to owner-occupied duplexes and triplexes Limiting rent increases to 60% of CPI Eliminating the existing tenant complaint driven system, instead requiring landlords to petition for all increases above CPI Creating an independent Rent Board and giving tenants four out of the seven seats Eliminating rent control exemptions for substantially rehabilitated units Eliminating illegal use and failure to renew a similar lease as just causes for eviction OBAR urges you to reach out to Mayor Schaaf and the City Council to tell them that this measure will not address Oakland's affordability crisis. It will simply punish the small property owners who are already being squeezed out of Oakland. Please also attend the committee meeting on May 24 to show support for property rights in Oakland. Contact Deputy Government Affairs Director Aly Bonde with questions at aly@theobaor.org. What: Rent control ballot measure committee meeting When: Tuesday, May 24 at 1pm Where: Oakland City Council Chamber, 3rd floor at 1 Frank H. Ogawa Plaza Oakland, CA Contact information: District 1 - Councilmember Dan Kalb Phone: (510) 238-7001 Email: dkalb@oaklandnet.com District 2 - Councilmember Abel Guillen Phone: (510) 238-7002 Email: aguillen@oaklandnet.com District 3 - Councilmember Lynette McElhaney Phone: (510) 238-7003 E-Mail: lmcelhaney@oaklandnet.com District 4 - Councilmember Annie Campbell Washington Phone: (510) 238-7004 E-mail: acampbellwashington@oaklandnet.com District 5 - Councilmember Noel Gallo Phone: (510) 238-7005 E-mail: ngallo@oaklandnet.com District 6 - Councilmember Desley Brooks Phone: (510) 238-7006 E-mail: dbrooks@oaklandnet.com District 7 - Councilmember Larry Reid Phone: (510) 238-7007 E-mail: lreid@oaklandnet.com Councilmember At-Large Rebecca Kaplan Phone: (510) 238-7008 E-mail: rkaplan@oaklandnet.com Mayor Libby Schaaf Phone: (510) 238-3141 E-mail: lschaaf@oaklandnet.com more...
Protect Your Access To Applicants Eviction History Call now or lose your rights at a huge cost! How would you like to inherit repeat non-payers of rent because of a "hiding" law that prevents you, the owner, from knowing the specifics of an applicant's rental history when running credit reports? AB 2819 (Chiu) will permanently hide all unlawful detainer (court eviction) actions, unless the wronged rental property owner files a judgment in court within 60 days for outstanding monies owed. If the owner does not take this action within 60 days, the repeat non-payer will move into the rental without the owner knowing their history. Sometimes owners don't file a judgment for outstanding monies. Sometimes they just want possession of their unit because the situation has been so stressful and draining. This bill unfairly places ALL costs, burdens, and responsibilities for ensuring public notice of tenant defaults on the property owner with a specific time limit. If you choose not to file within 60 days, the resident gets their poor rental history wiped clean. Call Your Assembly Member Now If you live, work, own or manage a property in Alameda or Contra Costa counties, please call your Assembly Member as soon as possible and ask him or her to VOTE NO on AB 2819 (Chiu) when it is taken up on the floor. Please call on or before May 15, 2016! Here are the simple steps: · Call the Senator's office listed below · When the call is answered, identify yourself and state that you are a member of the East Bay Rental Housing Association · State that you live, work, own OR manage residential rental property in the City of _______ · State you are calling to ask the Legislator to VOTE NO on AB 2819 (Chiu) · Thank the Assembly Member's staff for taking your call. That's it! Click here to read a letter explaining the issue in detail and why EBRHA is urging a NO vote. Please call the following Assembly Members: Asm. Catherine Baker / District 16 (916) 319-2016 Asm. Susan Bonilla / District 14: (916) 319-2014 Asm. Rob Bonta / District 18: (916) 319-2018 Asm. Kansen Chu / District 25: (916) 319-2025 Asm. Jim Frazier / District 11: (916) 319-2011 Asm. Bill Quirk / District 20: (916) 319-2020 Asm. Tony Thurmond / District 15: (916) 319-2015 more...
05/06/2016
Advent Partners with Roofstock.com
Advent Selected as the Premier Property Management for Roofstock.com Advent Properties, Inc. has been selected as the premier Property Management for Roofstock.com launch in the San Francisco/ East Bay Area! This seamless investment home platform to purchase and manage homes has selected Advent after a rigorous vetting process. Advent is proud to partner with Roofstock.com for the purchase and management of homes in the San Francisco/ East Bay Area! Check out the YouTube video below for more information about Roofstock.com https://youtu.be/3BUEV02qD8c more...
05/02/2016
Advent In The News!
On Saturday, April 30, 2016, Advent Properties' President, Benjamin Scott, was quoted in a San Francisco Chronicle article giving advice on becoming a Property Manager. "A lot of landlords will have them (referring to Property Managers) collect rent and do showings. To me, that is a landmine," Scott said. Read the full article here. more...
04/29/2016
April 2016 Advent Birthday Celebrations
A big Advent Family Birthday shout out to our President Benjamin Scott and our new accountant, Tammy Chiu! Benjamin enjoyed his banana cream pie while Tammy had a traditional chocolate cake. The only fight was who got to wear the traditional Advent Birthday sash! A big thanks to Merritt Bakery in Oakland for making our Friday so yummy! more...
10/30/2015
Eva has the Halloween Spirit!
Check out Eva with her Dia de los Muertos makeup! Amazing! more...
10/15/2015
Happy Halloween from the Advent team!
Happy Halloween from the Advent team! We had some fun this week decorating the office and having a pumpkin decorating contest! Stay safe this holiday and enjoy yourself! more...
09/14/2015
More Homes Sold for Over Asking!
1775 Panda Way, Hayward sold for over asking! more...
09/11/2015
Come Play in the Streets at the 3rd Annual Love Our Lake Day, Sunday, September 20 from 11am to 4pm!
Come play in the streets surrounding beautiful Lake Merritt at Walk Oakland Bike Oakland’s 3nd Annual Love Our Lake Day Sunday, September 20, 11a-4p. The free event offers two car-free miles of human powered fun! Walk, bike, skate, dance, stroll, play and experience Lake Merritt – the nation’s first wildlife refuge – in a new way. The route wraps around the southern flank of Lake Merritt from Lakeshore Avenue, around Lake Merritt Blvd and on to Snow Park. For just a few hours on a Sunday, enjoy dance, arts, health, fitness and community through more than 50 interactive activities hosted by area artists, performers, businesses and community organizations. For the first time this year, Love Our Lake Day will be featuring the Bicycle Music Festival (relocated from SF), the 11th annual Oakland Grand Prix (cycling race) and great eats from local food vendors more...
07/31/2015
Friday Funny! Have a great weekend!
3760 39th Avenue K, Oakland sold for $60,000 over asking! more...
From weekend riders to hipsters and families, this free festive day will pack the Oakland waterfront with more than 20,000 biking enthusiasts enjoying bicycle-themed entertainment, food and exhibits. more...
03/20/2015
5833 Harmon Avenue Sold!
This 10 unit rental property has just sold for $850,000.00 which is $50,000.00 more than asking price! more...
03/12/2015
Happy Birthday Zack!
02/27/2015
Check Out Our Yummy Wine Friday Spread!
OM NOM NOM NOM!! more...
Friday was Agusia Moore's final day with Advent Properties. We will all miss her! more...
02/18/2015
Happy Birthday to Marco!
The team celebrated Marco's birthday with a yummy cake and lots of birthday wishes. more...
The Advent Team wishes all of our owners and residents Happy Holidays and and amazing start into 2015! If you had a moment to respond to our end of year survey - thank you - we appreciate your feedback in becoming an even better company in 2015! This year was another great one for Advent! We welcomed many new owners and residents to our company as well as new team members. The team got together for our annual Holiday lunch last week which we combined with an ugly sweater contest. Some team members took great pride in their sweaters :-). Mike was the lucky winner and clearly deserved the ugly sweater trophy. Congratulations Mike. more...
We sold this great condo located at 425 East 11th Street, # 14 in Oakland for $468,000 which is $79,000 over asking price! more...
10/27/2014
6971 Los Olivos, Carmichael
SOLD! The Advent Real Estate Team keeps busy this fall! We sold our property in Carmichael on 6971 Los Olivos Way for $10,000 over asking price. more...
10/27/2014
Sold - 970 Valley Run, Hercules
SOLD! The Advent team sold another property at 970 Valley Run in Hercules for $345,000. Please see pictures of the amazingly staged home below! more...
The Advent Real Estate Team did it again and sold a beautiful property in Walnut Creek today! Congratulations to the new owners! more...
Advent participated and was nominated at the annual Greater East Bay GEMM Awards. CAA Greater East Bay GEMM Awards honors their members who exhibit greater excellence in the Management and Maintenance of the Rental Housing Industry. more...
08/18/2014
926 Tera Court in Walnut Creek
Advent is proud to present this gorgeous 2 level single family home in a cul-de-sac with 4 bedrooms and 2.5 bathrooms. The family and dining rooms have vaulted ceilings. The beautiful manicured large and fenced backyard with a basketball court is a paradise for relaxation and entertaining family and friends. 3 car garage. A shed in the backyard offers extra storage. This is a trust sale. We invite you to our open house Sunday August 17th from 2pm - 4:30pm and Sunday August 24th from 2pm - 4:30pm to check out this amazing home! Brokers Tour is scheduled for Tuesday, August 19th from 10am - 1pm. Offers due by August 26 at 5pm, no late submissions accepted. Email offers to bscott@adventpropertiesinc.com. Offers subject to review of all home/roof/pest reports. more...
07/29/2014
Advent in the News!
Advent assisted one of our homeowners with Comcast troubles! Read here about a complicated fraud process. more...
07/10/2014
The "it" neighborhoods in Oakland
Ever wondered what neighborhoods are the latest ones in Oakland? Check out the following article covering the most desired areas. Read more. more...
07/07/2014
Oakland the new Silicon Valley?
Tech companies are taking a closer look at Oakland - check out some good reasons why Oakland might be attracting new technology! Read more. more...
Ever wondered what to do with small spaces? Check out these creative ideas from all over the world and get inspired. Click here. more...
07/01/2014
SOLD - 1225 Richard Place, Hayward
Advent's Real Estate department is on fire! The summer is heating up and so is Advent's Real Estate department. The Advent team sold another lovely home on 1225 Richard Place in Hayward. A single family home with 2 bedrooms, 1 bath and a big yard. Close to downtown. Offered: $277,000. Selling price was $38,000 over asking! more...
06/02/2014
SOLD - 336 Duncan Street, San Francisco
The Advent team sold our multi-family Noe Valley property on 336 Duncan Street (SF). Selling price was $300,000 over asking! Interested in selling your home? Please contact our broker, Benjamin Scott at 510.289.1184 or via email at bscott@adventpropertiesinc.com. Benjamin will provide you with a free market analysis. Advent offers current clients a discounted rate! more...
05/23/2014
Happy Birthday to Ben!
The team celebrated another big day at Advent. Happy Birthday to Ben! We enjoyed a delicious vegan vanilla bean cake with the birthday boy! more...
05/18/2014
The Advent team got a sweet present!
Our newest residents brought delicious donuts for the team. Everybody enjoyed the yummy treat! more...
05/15/2014
848 Erie Street in Oakland sold today!
Advent is excited to announce that we sold our property on 848 Erie Street in Oakland today! more...
A great legal resource - check out www.nolo.com. Did you know that rental real estate provides more tax benefits that almost any other investments? Make sure you are maximizing your deductions so you not missing out! Read more here. more...
Oakland is becoming an increasingly popular alternative to San Francisco and not just for residents. Companies are considering Oakland as well as a new hub for their business. Read more here. more...
Check out the 55th Annual White Elephant Sale on Sat-Sun, March 1-2, 2014 from 10 am to 4 pm. You will be able to choose from millions of items displayed in a 96,000-square-foot warehouse and shop to your heart's content! Read the full article here. more...
Housing advocate Maeve Elise Brown, founder of Oakland-based Housing and Economic Rights Advocates, shares her thoughts on increasing housing costs, possible causes and more! Read the full article here. more...
02/10/2014
Burger Success!
We had a good and tasty time at Park Burger 1st year anniversary party. Advent is proud to support community businesses that are working to make Oakland an even better place. Our Broker and founder supported the event by eating many $2.00 sliders! Come out and support Park Burger; fantastic burgers and salads, friendly service and cheerful atmosphere. more...
The Advent team sold this charming 1920's home in the Laurel district of Oakland. The Laurel district is an up and coming neighborhood east of Lake Merritt that is attracting many new homeowners. This property is a natural light-filled well maintained house with an enclosed front porch. The living room has hardwood floors and a fireplace. Large kitchen with a breakfast corner. Fenced yard. Detached and gate one car garage. more...
Asking rents remain sky-high compared with just a year ago despite the slower season. It's still a brutal market out there for prospective renters. Read more about the current S.F. rents. more...
Oakland is getting attention from the UK! An intriguing article from the Independent UK at http://tinyurl.com/lno9y42 more...
11/19/2013
German Christmas Markt
Come and join us this Saturday, November 23rd from 10am until 4pm for a German Christmas Market experience in the historic Altenheim Hall in Oakland! More information can be found at the following link http://www.ugas-eb.org/ChristmasBazaar2013.pdf more...