You’ll find our blog to be a wealth of information, covering everything from local market statistics to Tips and Tricks, to Anything and Everything!!
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As stated on our local news, the anticipated Mecklenburg County Eviction Report was released on May 23, 2018
This report breaks down provides an in-depth look into a one-month snapshot of eviction court records from Mecklenburg County. Including how many evictions were filed, why they were filed, the outcome/decision of the evictions by the court, which parties have legal representation, etc.
Yes, Mecklenburg County is in lack of "Affordable Housing", however, according to this report, 92.3% (1,647) breaches of lease were conventional (no assistance), 50% (32) breaches of lease were in the Public Housing Sector, and 66% (19) breaches of lease were tenants that were on the Section 8 Housing Voucher Program.
Across the housing types, "Breach of Lease" (mostly due to failure to pay rent) and "failure to pay rent" were the predominant reasons a plaintiff was attempting to evict the tenant.
So, how do stop the evictions? Screening is one way. Here at PG Management Group, LLC we want to make sure the tenant can afford to live in one the properties we manage for our owners. This is part of our screening process. We want the to make enough money to pay their rent, buy clothes, eat, and still have a life.
We opened PG Management Group, LLC in 2014. Here are our company eviction statistics:
We cannot guarantee that everyone will pay their rent on time, however, in 5 years with only 6 evictions, I believe our screening process is very thorough.
What are some additional way to help decrease this county eviction rate? Check out the TOOL KIT here
You can make a difference by sharing or supporting one of the solutions from this toolkit with others in the community, especially decision-makers. To find out more information or to request assistance with sharing information with others, use the contact here:
Courtney Morton, Housing & Homelessness Research Coordinator
Below, you will find the additional reports:
Charlotte-Mecklenburg Evictions Part 2: Mapping Evictions (2018)
Charlotte-Mecklenburg Evictions Part 1: An Introduction to Evictions (2017)
Charlotte-Mecklenburg Strategies for Affordable Housing Development (2015)
Housing Instability in Charlotte-Mecklenburg (2015)
Characteristics of the CHA’s Housing Choice Voucher Waiting List (2015)
One of the most common real estate investment transactions is the 1031 Exchange. Simply put, a 1031 Exchange (also called a “like-kind” exchange) is the swap of one investment asset for another which defers capital gains taxes on profits.
A like-kind asset refers to selling one class of investment for a similar type of asset. For example, an investor currently holds several multi-family properties, such as duplexes, and wishes to sell them all in order to purchase a larger multi-family property, such as an apartment complex. This would qualify as a like-kind exchange.
There are specific IRS rules which must be carefully adhered to in order to qualify for the deferred capital gains tax. The sale must take place through an intermediary. Title companies are one such option and when coupled with the use of a real estate agent, the easiest. The new asset must also be identified within 45 days of the sale of the current asset and the sale must conclude within 180 days. Finally, the asset must be held for over 1 year before it is eligible for use in a 1031 exchange.
Serious investors use the 1031 exchange to buy and sell assets as new opportunities present themselves, while shielding themselves from immediate capital gains liability.
Buying a new home is an exciting time. It can also be stressful if you are unsure about your credit or know that your credit is not as high as you’d like it to be. Your credit score is one of the biggest factors in how much of a home loan you can qualify for and the interest rate you’ll pay. The good news is there are easy ways to increase your credit score. By following a few tips, you can make sure your report accurately reflects your use of credit and create a plan to improve your scores if necessary.
• Check for Errors - Errors on a credit report is very common. Make sure that everything is current and accurate.
• Pay Down Credit Card Debt – One of the easiest ways to boost your score is to lower your credit card balances. Aim to have no more than 50% of available credit in use.
• Remove Negative Accounts – If you have old collections or bad debt, negotiate with the creditor to pay some/all of the debt in exchange for removing the record.
• Keep Old Accounts Open – About 15% of your score has to do with how long you’ve had credit accounts.
• Pay on Time – This might sound simple, but always pay your bills on time.
• Consider a Bankruptcy – If you’re really in over your head, it might be time to take a step back and declare bankruptcy. This resets the clock and allows you to plan for a future purchase.
Credit issues do not have to last forever. By understanding what affects your credit, you can make real changes which will increase your score.
You’ve heard the rumors; it’s a “Seller’s Market.” Well if you are actively searching for a new home, you know that it’s true. The low inventory of homes for sale has made things difficult for buyers. There just aren’t many homes for sale out there and when a nice listing does come to market, it’s met with multiple offers…..often with offer prices over asking.
If you’re a buyer in this market, you might feel overwhelmed but remember that with a solid strategy, you can still find your dream home, even when inventory is low.
The highest offer price in the world is worthless if the transaction doesn’t close.
Here are a few tips for buyers looking in a tight market:
• Talk to a lender before you shop so you’re prepared
• Be prepared to pull the trigger
• Write a competitive offer
• Keep contingencies to a minimum
• Write a clean offer; Make it easy for the sellers to just say yes
When inventory is low, it’s each to feel like the best homes are already gone, but by working with your agent, you can put yourself in the best position to have your offer accepted.
This came from my daughter's school newsletter and I thought I would pass this along...
Behavior not feeling:
Think of gratitude as a behavior not a feeling. Never allow your problems to prevent you from saying thank you to others.
Behave your way into gratitude, start saying thank you, today.
Gratitude lifts leadership out of the mud.
I see you.
I respect what you do.
You contributed to success.
Gratitude enobles both recipient and giver.
Conceit. The narrowness of conceit is broken with gratitude.
Anxiety. The dread of anxiety is weakened with gratitude.
Anger. The heat of anger is cooled with gratitude.
Resentment. The self-destruction of resentment is lifted with gratitude.
Discontent. The darkness of discontent is brightened with gratitude.
Stress. The tension of stress is lessened with gratitude.
Self-importance.The weight of self-importance is lightened with gratitude.
Serious about gratitude:
Schedule gratitude or busyness will push it out. List teammates on a gratitude calendar, for example.
Begin your day by expressing gratitude to three people, then get to work.
Pick up the phone or walk down the hall.
Copy your boss, on gratitude emails.
End your day with an act of gratitude, then go home.
Everyone of your direct reports should hear a specific thank you – from you – at least once a week.
The act of gratitude:
Establish eye contact.
Include appropriate touch.
Name a behavior that produces results.
Say the words, “Thank you.”
Make it personal, “I appreciate you.”
How has gratitude, or the lack of it, impacted your leadership?
Your Four-Legged Friends and The Fair Housing Act
The Fair Housing Act (FHA) prohibits landlords from discriminating based on disability, race, color, national origin, religion, sex and familial status. The Americans with Disabilities Act (ADA) prohibits discrimination against people with disabilities in employment, transportation, public accommodations, communications and state and local government activities.
Both laws contain provisions which address the use of service or companion animals by people with disabilities. While the FHA covers nearly all types of housing, some types of housing, such as public housing, are covered by both laws. Landlords and property managers are required to make a “reasonable accommodation” for both service and emotional support animals.
What is the difference between a service animal and a companion animal? A service animal is a dog that is highly trained to do a specific task or service for the disabled person. The service can be anything from helping the person navigate through public places to alerting him to an oncoming seizure. A companion animal does not need any specialized training and is there to purely give comfort. Companion animals can be dogs, cats, birds, rabbits, lizards, etc. People may use all sorts of animals to give them the emotional support they need to live a fulfilling life.
If a person needs an emotional support animal to help alleviate the symptoms of a disability, he or she must first make the request to his or her landlord. Most accounts indicate that a request should be in writing and explain how the reasonable accommodation helps or mitigates symptoms of the disability. While the tenant does not need to disclose the disability, a landlord may ask the tenant for documentation.
According to the U.S. Department of Housing and Urban Development’s (HUD) Fair Housing and Equal Opportunity (FHEO) Notice , a landlord "may ask individuals who have disabilities that are not readily apparent or known to the provider to submit reliable documentation of a disability and their disability-related need for an assistance animal."
IREM’s position on companion animals states: “IREM supports and invites guidance from the government on the issue of companion animals, sometimes referred to as emotional support animals, with respect to the American with Disabilities Act (ADA) and the Fair Housing Act (FHA). Companion animals are not service animals. Service animals require special training. Companion animals receive no specialized training and are typically for individuals with mental disabilities or those in need of emotional support.”