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Boynton Beach Property Management Blog

Local Property Management News


INSPECTION PERIODS IN FLORIDA SALE CONTRACTS – Part One

Nancy Jackson - Thursday, July 27, 2017

The majority of homes sell “As Is” in South Florida which entitles the Buyer to an Inspection Period which I like to refer to as the “Due Diligence” period. This time period can be whatever is agreed to between the Buyer and Seller but is typically 7 – 15 days. I encourage all Buyers to learn from my first home-buying experience (i.e. mistake) and always get an inspection by a professional, which provides a snapshot of the property’s condition. I acquired my first home (a cute 2-bedroom villa) through a Mortgage Assumption, which did not require an inspection in order for me to assume the mortgage. (I don’t think banks allow this type of property transfer any longer.) Shortly after I moved in, I found that “dirt” collected on the window sills on a daily basis. Can you guess what this dirt was? Termites! Had I gotten an inspection, termites would have been discovered and I could have had the Seller tent & treat the property, rather than me having to take care of it right away. Lesson learned and something I share with all my Buyer clients – the importance of having an inspection! Read More

Don’t Order Another Set of Checks until you read this!

Nancy Jackson - Monday, June 05, 2017

Have you ever had to put a Stop Payment on a check? Did you know that the Stop Payment is only good for a limited amount of time? Verify this with your bank but most banks have a policy on Stop Payments; the standard in the banking industry is 180 days. Then what happens, you ask? You have to keep renewing the Stop Payment on the check every 6 months to avoid having the person cash the check and possibly overdraw your account. Believe it or not, this happened to me recently, thankfully the amount was only $35 and there was money in the account to cover this unforeseen expense but I was shocked and outraged to learn that someone could cash a check TWO YEARS after it was written and the bank honored the check! Read More

Travel Much?

Nancy Jackson - Wednesday, January 11, 2017

Last summer, I used an international no-frills airline for the first time ever. A Spanish airline named Vueling got me to Catania and I had no complaints. The one-way flight was so fast, inexpensive and easy-breezy that I decided to do the reverse when I traveled back from Palermo. The return trip was a complete 180 due to bad weather across Italy. The flight was about twice the price and literally took all day but it was not all Vueling’s fault. I arrived at Palermo’s airport at 9:30 a.m. and finally departed at 10 p.m. bound for Rome -- so much for shopping and one final Italian gelato that I had planned on my last day instead I read two entire e-novels at the airport! I was notified by fellow passengers that the European Union has a law requiring EU transportation carriers to compensate travelers if they are stranded for more than 3 hours, depending on the distance traveled. So I was rewarded with 250 Euro for my inconvenience, which paid for my flight back to Rome and those dreaded baggage fees! Read More

WIRE FRAUD ALERT

Nancy Jackson - Thursday, January 05, 2017

If you are selling property anywhere, be aware that the last “safe” way to transfer money is now at risk. For several years, scammers have counterfeited money, checks and cashier’s checks. Closing agents have been requiring wire transfers to ensure that the money being used in a sales transaction is legitimate. Now, even wire transfers are suspect because thieves are highjacking emails and are changing the account details and resending the emails with fraudulent information. If you are transferring any sum of money for any reason, it is imperative that you contact the Title company or Real Estate Attorney just before and just after the transfer and confirm the account information with them. Do not rely on any email, communicate directly with the source. It would be a good idea to Google/Web Search the phone number or get it from your real estate professional. Unfortunately, I have heard of this happening from several colleagues, their clients have lost many thousands of dollars and in the end, there has been no way to trace the money and they don’t even have a new home to live in because most of their savings were transferred to the fraudulent account. Below is an example of an email from one of the Closing Agents that I work with… Read More

New Federal laws will change many Property Sale Transactions

Nancy Jackson - Tuesday, July 14, 2015

As a result of the financial crisis that began in 2007, major changes are coming to real estate transactions starting October 1, 2015. Any transaction involving a mortgage will use new documents created by the Consumer Financial Protection Bureau (“CFPB”) a federal watchdog group that was formed as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These changes were scheduled to be implemented August 1, 2015 but most settlement companies are not ready yet. Read More

Communities Limiting the Amount of Units that can Be Rented Out

Nancy Jackson - Friday, July 10, 2015

Over the last year, a trend has become more prevalent with numerous communities trying to limit the amount of units that can be rented out. Changes to community Covenants and Declarations must be voted into existence by all property owners and owner-occupant owners typically outnumber investment owners, however, the proposed rules can be so restrictive that even the owner-occupant types sometimes vote No. This topic is spreading throughout many communities because the HOA/COA property management companies who manage the associations “suggest” this tactic to the Board of Directors of communities. IF you want to see a letter that one community sent out making their case with 12 reasons why property owners should vote in favour of this, please email me. Additionally, many Boards are attempting to change the amount of votes required to get a Declaration modified; in the past most communities that are set-up by a Developer required a 67% or 75% majority in order for an existing covenant to be changed, the BOD are trying to have the required votes be reduced to a simple majority of 51%. Be on the look-out for these topics in your community and vote accordingly. What is interesting to me is that individual investors are not buying up properties in droves like they did during the real estate boom in the early 2000’s, these days there are institutional investors that are still purchasing properties, but not excessively, in our area. Most of the home-buying in today’s market is for owner-occupied property, not investment. Read More

2015 Florida Statute Change – Smoke Detectors

Nancy Jackson - Monday, April 20, 2015

There was another Florida Statute change this year regarding smoke detectors. The statute states that if any major repair or painting is performed, the smoke detectors must be replaced with a new device that has a 10-year battery life. Most likely, this law was implemented because some people are do not change the 9-volt battery in the smoke detector when it goes out. Instead of replacing with a new 9-volt battery, the occupant either removes the battery entirely or lets the smoke detector chirp continually. Obviously, neither of those inactions are satisfactory and would be devastating if a fire was to occur. Read More

Revised Florida Landlord/Tenant Law

Web Admin - Wednesday, June 04, 2014

Did you know that Florida lawmakers revised F.S. 83 (Landlord/Tenant Law) last year and that as of January 1, 2014 a Landlord is responsible for providing window screens on all windows? A Landlord, or their agent, must make sure that all window screens and the frames are in good condition without large holes or tears in the screen and bends in the frame? The screen must fit in the window correctly. See below for the exact wording of the Statute: Read More

Reason For A Property Condition Survey at Move-In

Web Admin - Wednesday, April 30, 2014

Prior to a Tenant moving into a managed property, the Salefish Properties staff records the condition of every room of the home and prepares a very detailed report, taking hundreds of pictures and capturing the state of the interior and exterior of the home with multiple video recordings. Why is this so important? Read More

What are the duties of a Fiduciary in Property Management?

Nancy Jackson - Friday, January 03, 2014

As a single agent of the Landlord, Salefish Properties has a legal and ethical responsibility to represent the best interests of their clients. The Fiduciary agreement is one of trust and there are several key components of the business relationship: Obedience, Loyalty, Accounting, Reasonable Care, Disclosure, and Confidentiality. Read More

Salefish Properties

1375 Gateway Blvd.
Boynton Beach, FL 33426

Phone: (561) 738-0922
Fax: (561) 533-5458






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Salefish Properties

1375 Gateway Blvd.
Boynton Beach, FL 33426

Phone: (561) 738-0922
Fax: (561) 533-5458