Tuesday, July 3, 2012

Just Listed - Spacious 2bd/1bath home in Los Angeles! Check out pictures and details at http://tinyurl.com/7k6zssj!

Tuesday, May 15, 2012

Just Reduced! Beautiful 3bd/3bath in Playa Vista w/ tons of amenities! Now only $3,000.00 a month! Check it out @ http://tinyurl.com/6nr7ql8

Friday, May 4, 2012

Things You Should Consider: Condos, HOAs, and the Rules

Condominiums are great places to live. There are community features that sometimes a homeowner would not be able to have in a single family residence. When shopping around for a condo, potential buyers should research a few things before submitting an offer.

One of the more important factors that influence potential buyers of condos is the Home Owner Associations (HOA). HOAs have printed Covenants, Conditions, and Restrictions (CC&Rs) that inform tenants/owners what they can and cannot do. It is recommended (if possible) to review a copy of the current CC&Rs. Hypothetically speaking; you may be the type of person who loves to work on your car on the weekends. Some CC&Rs may prohibit you from working on your vehicle in your driveway. Or perhaps you have a beautiful pet who you have had lived with for years, but the condo you are interested in does not allow pets above 25 pounds. These are things you would want to know before purchasing or leasing a condo.

If purchasing a condo, it would be advisable that you ask for a copy of the HOA’s financial statements. If an HOA is collecting HOA fees from home owner’s but has very little money in their reserves, it should raise a few questions from the potential buyer. Also, if possible, a potential buyer should ask to review the minutes from HOA Board meetings. As a potential home owner in these buildings, you would want to know what is being discussed in the meetings.

Condos can be great living spaces for certain people, but we recommend researching more than the asking price and HOA fees before making a decision. Happy searching everyone!

Thursday, May 3, 2012

Just Listed-- Terrific 1bed/1loft/1bath condo at The Colony in Westwood! Check out pictures and details at http://tinyurl.com/d8afqcz!

Wednesday, May 2, 2012

Ask Yourself: What Can I Afford?

JRealty has credit and income requirements to lease any of our properties. We require that our lessees have a minimum FICO score of 650 and that their rent to income ratio be no more than 33%. We feel that this is a good standard to weigh out applicants to minimize risk with potential tenants.

A person with a good credit score indicates that they understand the importance of paying their bills on time. When searching for a potential tenant it is important to assess 1) if they will pay their rent on time and 2) if they capable of paying rent on time. Realistically speaking, for a tenant to be able to pay rent and live a comfortable life style they should earn at least three times their monthly rent.

We frequently receive calls from potential tenants who love one of our current vacancies and would like to lease it out, but unfortunately do not meet our requirements. They sometimes earn enough income, but have poor credit or have great credit, but earn too little income. In an effort to reduce the risk of problems in the future, we would like the tenant’s rent to income ratio to be as low as possible.

If you are looking for a new place live and keep asking yourself, “What can I afford?” we recommend searching for properties that are priced for about a third of what you earn monthly. Of course there are other expenses to consider such as: insurance, utilities, debts, and other monetary obligations.

Happy searching potential tenants!

Friday, April 27, 2012

Moving Out: A Tenant?s Guide to Providing a Landlord Proper Notice

Recently, a close friend of mine found herself in a difficult situation with her landlord. My friend, the tenant, had been living in her apartment for 6 years. After much thought she decided it was time to move into a bigger space. She did what most potential tenants do these days. She went online, searched for vacancies, viewed a few properties, applied for the one she liked the most, and entered into a new lease agreement.

When she signed the lease for her new place, she then gave her landlord a verbal notice to terminate her tenancy. Her landlord explained that she had to provide a written 30 day notice to vacate. The landlord also mentioned that my friend was still responsible for a portion of the next month’s rent. This may sound like a harsh response, but the reality is, it is the proper response.

In the state of California, tenants who wish to end a periodic rental agreement are required to provide proper written notice to the landlord. In California, the number of days between rental periods should guide the amount of notice given to a landlord. If you pay rent on a monthly basis the notice should be given 30 days prior to terminating the lease agreement.

A tenant is allowed to provide notice during any point of their rental period; however the tenant is still responsible for the full rent during the period covered by the notice. As an example, let’s pretend a tenant pays rent every 1st of the month. This tenant gives a notice to terminate their tenancy on the 16th of the month. The tenant is still responsible for rent until the 16th of the following month regardless if they have moved out of the unit before the 16th.

It is important for both tenants and landlords to understand the terms of the lease agreement. Tenants have a duty to provide proper notice, just as landlords do. Before a tenant enters into a new lease agreement, it is important to fulfill the terms of their previous lease agreement. This includes providing proper notice to the landlord, paying any outstanding balances, and leaving the unit in a satisfactory condition.

Thursday, April 26, 2012

Just Listed- Lovely 2bed/2bath condo in Glendale! Close to Brand St. & The Americana. Check out pics & details @ http://tinyurl.com/bo9k8r3

Tuesday, April 24, 2012

Just Reduced! Beautiful 2bed/1.75bath in condo in Encino is now $1,525! Check out pictures and details at http://tinyurl.com/85mzbxq.

Wednesday, April 18, 2012

Just rented a beautiful home blocks from Manhattan Beach to an Air Force Captain with a 750+ FICO score!

Friday, April 13, 2012

Just Listed-Beautiful home blocks from the beach! 3bd/1bath home in Manhattan Beach.Check out pictures & details@ http://tinyurl.com/7ypevok

Friday, March 23, 2012

Just Rented -- A beautiful 2bd/1.5bath condo in Pasadena to great tenants with 800+ FICO scores and income to rent ratios of about 15%!

Thursday, March 22, 2012

GREAT NEWS! JRealty just submitted an application to trademark the JRealty logo. Excited for future endeavors and growth as a company!

Tuesday, March 13, 2012

Just Listed -- Beautiful 2bed/1.5bath in Pasadena! Great location, must see! Check out pics & details out @ http://tinyurl.com/6wazlfc!

Friday, March 2, 2012

Just Rented -- Gorgeous 2bd/1bath unit in Mid-Wilshire to two great tenants with 700+ FICO scores and low rent to income ratio!

Monday, February 27, 2012

Just Rented -- Beautiful 4bd/2bath home in Diamond Bar to a great tenant with a 700+ FICO score and a rent to income ratio of 15%!

Friday, February 24, 2012

Just Listed -- Terrific 2bd/1bath apartment in Mid-Wilshire! Check out pictures and details at http://tinyurl.com/7hcfrqq!

Tuesday, February 21, 2012

Just Listed-Gorgeous 4bd/2bath home in Diamond Bar! Newly remodeled kitchen, large open rooms & pool! Details @ http://tinyurl.com/7lcephs!
Just Listed - 2bd/2bath condo in lush Rancho Santa Margarita! Check out pics & details out at http://tinyurl.com/7lcephs!

Wednesday, February 8, 2012

Just Listed-- Beautiful 2bd/2bath home in Van Nuys! Home is move in ready, check out pictures and details at http://tinyurl.com/6mhkds2!

Monday, February 6, 2012

Just Rented! Beautiful 3bed/2bath home in Gardena just leased out to a a great tenant. Check out pictures at http://tinyurl.com/8xtnkyr!

Monday, January 23, 2012

Just Rented -- Gorgeous 2bd/2bath in Hermosa Beach to a wonderful tenant with a 760+ FICO score! Check it out @ http://tinyurl.com/7twskze