Hoarding Situations and Short-Term Apartments

short term apartments for rent

It might seem entirely impossible for tenants in short term apartment rentals to create a hoarding situation, but it is far more common than you might know. One organization has determined that hoarding disorders affect up to 15 million people, and that it is an endless behavior. This means that property managers of short term apartments must take the matter seriously and make plans to address the issue if it arises.

How? There are some obvious warning signs for longer term rentals, such as a year without a single maintenance call, but even short-term apartment rentals can provide a few clues that a problem is present.

Apartments for rent

As a property manager, you will want to pay attention to the amount of garbage each tenant tosses on a weekly or bi-weekly basis. If you notice almost no trash from a renter, it may be a sign of hoarding. Odd odors are another indicator that a hoarding situation is present, and ignored efforts to get in touch is also another red flag.

If you are in charge of short term apartments, you can address the situation with diplomacy as this usually creates the best results. Because it is a disorder, you want to hold off on immediate eviction if you discover it has occurred. Instead, consult with an attorney, insert clauses that allow for spot inspections in all rentals and train any staff to be alert to this risk with any and all rentals. Remember that regular inspections as part of a rental arrangement can be the best approach to preventing hoarding in the first place.

As Vacation Home Sales Falter – Owners Turn to Renting

USA Today reports more Americans are renting out their vacation homes, because they can’t sell them or are unwilling to sell for a loss. The rental income allows them to stay afloat while waiting for the vacation home market to pick back up again.

While the overall housing market remains in a deep slump, the vacation market is in even worse shape. Sales of vacation properties have been cut in half from their peak in 2006, before the financial crisis hit. Just last year, median sales prices of vacation properties dropped 26.5 percent to a record low of $150,000.

The result is that the vacation rental market has become flooded with new listings, keeping rental rates unchanged this season and creating even more options for those seeking a vacation rental.

While it may sound tempting to rent out your furnished vacation property to other travelers, try listing your property as a corporate rental on Corporate Housing By Owner instead. You’ll avoid entering the over-saturated vacation rental market, and instead be exposed to corporate travelers, where there is high demand for furnished properties.

Lower your tax bill liability

If you feel like your property tax bill is on the high side, it very well may be. Depending on your area, your current tax bill could be based on your home’s value from as much as 5 years ago.

Appealing the amount of your bill may seem like a daunting task, but it doesn’t have to be. The process can actually be quite simple, if you know what you are doing.

Look for mistakes.
Often, the amount you pay is based on a quick evaluation of your home from the outside.  There may be features attributed to your home that don’t actually exist. A simple mistake of an extra room or a larger lot size can be adding extra dollars to your tax bill. Making your tax assessor aware of the mistake may almost immediately lower your bill.

To view your property record, check with your local assessor’s office.

Arm yourself with information.
Before an appeal can be effective, you’ll need to be able to prove that the value based on your home is incorrect. What qualifies as proof will change from jurisdiction to jurisdiction, so be sure to check what you need in your area. You may need to either hire an independent appraiser to evaluate your home or come up with values of comparable houses in your neighborhood. To find comparable homes, you may want to enlist the help of a realtor or check websites such as zillow.com.
In most cases, there should be a difference in values of at least 10% before your bill may be adjusted.

Additional resources :

www.realtor.org
www.naifa.com
www.zillow.com