Realty World - Paielli Realty, Inc.

Spring 2014

A Message from Greg Paielli

Dear Client, Customer, & Friends

Hello and welcome to our spring newsletter. As the holidays have pared down it is now the best time to get back to business and start the New Year in the right direction. I have read some interesting article from Kiplinger, a financial news publisher who said that Las Vegas, NV. have the largest renter population and rental vacancy rate and the highest income among renters of the top 10 US cities for affordable house rentals. The current vacancy rate in Las Vegas is 14% with over 43% of households occupied by renters with an average income of $40,400. The results of these stats are in the fact that many investors came to Las Vegas and purchased gluts of cheap homes and then turned them into rentals. The trend is now changing as many of these investors are slowing down in the purchase of these homes because they are unable to make large profits as the average house price continues to rapidly increase.

As always, thank you for taking the time to read our newsletter and visiting our site. Your business is invaluable and your referrals are always highly appreciated. Should you need assistance regarding your property management needs, short selling your home, purchasing a new home, or any general questions, please feel free to contact me. We are here to serve you!

Thank You,

Greg Paielli

Preventing Fires

A fire can be devastating for anyone; each year thousands are injured or die in home fires. Although you cannot predict a disaster, the majority of the time, a fire in a rental property does not have to happen. Preventing a fire in a residence involves teamwork between property owners, the property manager, and residents.

As your property management company, we do our very best to ensure that the smoke detectors are working, necessary maintenance is completed, and that tenants are counseled on their responsibilities toward preventing fires. However, the property owner needs to take a proactive role in fire prevention as well. Taking practical steps inside and outside the property is important to avoid liability and property loss.

Fire Prevention Tips for INSIDE a Rental Property

Every property has different maintenance requirements. Many older properties have outdated electrical, heating and air-conditioning units, and more. It is also important to use qualified repair people to reduce your liability. Below are items we address as soon as possible.

  • Install working smoke alarms and provide fire extinguishers. Even if a fire happens, you don't want to have an unnecessary tenant injury or death.
  • Change out overloaded circuit breakers, panel boxes, or fuse boxes immediately.
  • Repair any loose or defective wiring immediately.
  • Flickering lights or intermittent power surges that frequently occur can indicate a bad connection or a short in the circuit.
  • Fix breakers that "trip" or fuses that "blow" frequently. This is often a sign of an overloaded circuit or other wiring problem, usually of a serious nature.
  • Check individual breaker connections, especially in outdoor panel boxes. They should be checked for corrosion, signs of thermal damage (smut or smoky residue near terminals), and splices that are poorly taped, chafed, and damaged in wire insulation.
  • Repair wiring in attics and crawl spaces damaged by pests or insects. Some old wiring is insulated with a material that insects eat or chew on; squirrels or other rodents will often chew the thermoplastic insulation off modern nonmetallic cable (Romex).
  • Natural gas/LP gas systems should be checked for loose fittings, leaking valves, faulty pilot lights, debris or improperly stored flammable materials in areas near these appliances. If there is a smell of gas or a leak suspected, a professional should immediately inspect gas plumbing (pipes), valves, and regulators.
  • Have periodic checks of air conditioning and heating units repaired as needed. This can prevent a fan motor from being overworked, and save money in the long haul.
  • Window air-conditioners should never have extension cords.
  • If there is a fireplace, have a periodic inspection of the chimney and the condition of the fireplace.

Fire Prevention Tips for OUTSIDE a Rental Property

Fires can easily happen outside the property, particularly in an area where there are brush fires or wildfires. Here are more steps for prevention, depending on the needs of your property.

  • Remove vines from house walls; move shrubs and other landscaping away from house walls.
  • Remove highly flammable and low-branched trees, such as evergreens, eucalyptus, and juniper when possible.
  • Remove tree debris, such as fallen limbs, leaves, and pine needles and cones.
  • Remove debris beneath decks and other overhangs; remove debris from gutters.
  • Remove wooden exterior structures, such as decks and patios, or replacing them with materials that are more fire resistant if they present a hazard.
  • Consider installation of non-combustible roofing and siding materials, such as metal, slate, or concrete.
  • Consider installation of fire resistant landscaping, particularly in a high fire danger area.
  • Create a "defensible space" by removing all flammable vegetation at least 30 feet from all structures. On slopes or in high fire hazard areas remove flammable vegetation out to 100 feet or more.

Preventing a fire is a high priority in managing your property and reducing your liability. We will advise both you and your tenants when we see the need for preventative measures.

Serving You

Greg Paielli
gpaielli@paiellirealty.com
(602) 993-1768 Ext. 102

Luisa Ortega
lortega@paiellirealty.com
(602) 993-1768 Ext. 107

Toll Free: 1-800-308-6291

Website: PhoenixPropertyMgmt.com

Our Associations

Phoenix Office
15650 N. Black Canyon Hwy
Suite B-115
Phoenix, AZ 85053

Tucson Office
333 N Wilmot Road
Suite #340<
Tucson, AZ 85711

Las Vegas Office
6525 W Warm Springs Road
Suite #100
Las Vegas, NV 89118

Mailing Address
P.O. Box 56995
Phoenix, AZ 85079-6995

The material provided in this newsletter is for informational and educational purposes only. It is NOT legal advice.
Although we believe this material is accurate, we cannot guarantee that it is 100% without errors.

Services Provided By Property Management Newsletters