article thumbnail

HOA Transition Checklist: Onboarding The New HOA Board

HOA Managememt

The incoming board should also receive the contact information of the association attorney. If there are any pending legal issues, the old board should disclose them to the new board. This includes any ongoing and potential lawsuits that affect the HOA. Outgoing board members can also share the best practices they have learned.

article thumbnail

Finding the Perfect Multifamily Property

American Apartment Owners Association

Review financial statements The seller should provide you with detailed financial information, including income and expense records, to verify the property’s profitability.The cap rate (net operating income divided by purchase price) evaluates the yield of a property over one year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Everything You Know About Money is Wrong: Insights from Real Estate Attorney Mauricio Rauld

SparkRental

The Big Picture on Insights from Real Estate Attorney Mauricio Rauld: Prioritizing investment over excessive spending can accelerate wealth building, as seen in Jim Rohns 90% investment strategy and Grant Cardones 50/50 rule. We make no representations or warranties about the accuracy or reliability of the information provided.

article thumbnail

Best simple lease agreement templates for residential properties

Yardi Breeze

But how can you be sure that a free lease agreement is legally compliant without hiring an attorney to review it? An attorney can always prepare lease documents for you. Attorney-prepared leases: Pros & cons Attorney-prepared leases offer customization specific to your needs, which can be advantageous.

article thumbnail

(10 Ways!) How to Find Out Who Owns a Property

Bay Property Management Group

Understanding property ownership is useful for lease clarity, maintenance issues, verifying legitimate owners, and it’s generally legal to research this public information. What’s more, most offices provide this information free or for a small fee. A quick call or visit may give you the owner’s name and contact information.

article thumbnail

How are HOAs using AI to improve operations?

Condo Control

Communication AI-powered communication systems provide owners with 24/7 access to information, assistance with booking amenities, reporting issues, and answering common questions. These systems are capable of generating detailed financial reports in real time and providing board members with insights to make the most informed decisions.

article thumbnail

How are HOAs using AI to improve operations?

Condo Control

Communication AI-powered communication systems provide owners with 24/7 access to information, assistance with booking amenities, reporting issues, and answering common questions. These systems are capable of generating detailed financial reports in real time and providing board members with insights to make the most informed decisions.