Your Real Estate Insider: February 2009

About ten months ago, I leased out an investment property, which I own with my father. The tenant was highly recommended from a very reliable source. When they moved in they paid first months rent and security deposit. The next month they paid about a week late. The following month they paid about three weeks late. The next month they paid at the end of the month, with a bad check.

We were forced to evict. The eviction process went surprisingly well. On the day of the court hearing, we had already agreed they could have until the end of the month to move. In return they would leave the house in good shape and would pay us one months rent. At the end of the month the house was vacated and in great shape, but there was no money. We weren't completely surprised, ok actually we expected it. After a few unreturned phone calls, we decided to cut our losses.

To our surprise, this past week we received a package in the mail. Our former tenants had sent us a check for the full amount. I have been surprised many times by tenants but never by something good. It just proves you never really know what to expect from tenants.

 Walter Aaron Poling

Long & Foster

For anyone in the Berkeley County Area, or many of the surrounding areas, you have experienced severe winds the last twenty four hours. With extreme weather comes home repairs. It is common to panic, when you see missing shingles or siding hanging off your house, but you should always think safety first. It is never a good decision to climb a ladder or up a roof when there are high winds or if you aren't experienced with the right safety equipment. Here are a few tips that can help if your home needs repairs from weather damage.

Siding:

If your home has been built in the last few years it should have a layer of protection below the siding called house wrap. One of the main purposes of this wrap is during the original construction it protects the sheeting from weather before the siding is installed. This also means that if siding is missing and your house has wrap it will help protect your home from the elements until the siding can be replaced.

If your house doesn't have house wrap, you shouldn't worry. The worst case scenario is if siding is missing above a window, door or anything else that could leak. Siding diverts water around and away from those things that could leak, so if it's missing you have to be careful.

Asphalt Shingle Roofing:

People typically worry more when they see shingles missing at the top of their roof. This is the opposite of truth. If shingles are missing at the top of the roof the only place that could leak is exactly where they are missing. If shingles are missing at the bottom, water will run down the roof and will leak at the bottom.

Shingle Roofs also have a protective layer below the shingle called tar paper. The main purpose of tar paper on a roof is a moisture barrier between the shingles and plywood. It also protects plywood from the elements until the shingles are installed. This means that if you have shingles missing and you see black instead of plywood, there is still some protection until you can have a repair done.

Hint:

Sometimes it is hard to find contractors that want to do small repairs. It's easy to grab the yellow pages and start to make calls. This is sometimes going to be a more expensive alternative way to find a contractor. Try looking through local publications ( buyers' guide, valley trader, journal, etc..) smaller contractors advertise there. Don't forget to get several estimates to ensure your paying a competitive price.

Thanks Walter Aaron Poling

Long & Foster Foxcroft