Friday, December 28, 2012
Thursday, December 27, 2012
Monday, December 17, 2012
New Home To-Do List
New Home To-Do List
Congratulations, you have found the home of your dreams, but now what? Now is when the real work, planning, and fun begins. This is an exciting new chapter in life, full of great experiences. Take a few minutes now to create a to-do list and plan projects before moving day arrives! You will be glad you did.
Plan & Prepare:
•Hook yourself up – About a month ahead of the move, contact your current water, electric, cable, and phone companies. This will give you plenty of time to schedule cancellations and not incur any unnecessary charges. Also contact your new providers to schedule “turn-on dates”. Nothing would be worse than trying to move and settle in without water or electric!
•Update Insurance – Notify your homeowner’s insurance company of the change in your residence. If moving to another state, chances are you will have to get a new policy and maybe even a new company, depending on your current insurance company’s coverage.
•Go Postal – Recommendations are to file a change of address request with the USPS approximately 6-weeks before you move. You can stop by your local post office or complete it online at http://www.Usps.com. At the same time, it’s a good idea to remove your name from junk catalog lists (www.catalogchoice.org). Eliminate the extra clutter!
•Medical Records – If you are moving out of the area, it will be much easier to get a copy of your records now rather than later. You may need them to establish yourself as a new patient with another doctor.
•Local News – Sign up for the local newspaper in your new community. What a wonderful way to get to know the local shops, restaurants, and organizations; plus find out about upcoming events!
Pre-move Projects:
In addition to paperwork, utility switches, and other aspects of moving, now is a great time to consider home renovation projects. Many of them will be much easier to do before all of your belongings arrive!
•Replace flooring – This can seem a bit daunting now, but will be so much easier for all involved if you can do this project while the space is empty.
•Painting – Even if you can’t decide on new colors for every room, completing this in just one or two rooms is a great accomplishment. And again, it’s much simpler when you don’t have to crawl over furniture!
•Closet systems – Closet systems installed ahead of time will allow for easy unpacking; items can go from boxes right into drawers and on shelves.
•Electrical upgrades – If you’re moving into an older home and this is on the to-do list keep in mind that electricians are paid by the hour; get them in and out as quick as possible!
•Garage Storage – Have sturdy storage shelves to move? Have them loaded last, so you can get to them first. This will give you an immediate space for those “stored” items and will keep floor space open for other things.
Using the tips and hints here, you’ll find that all of this can be a pleasant experience.
Happy Moving!!
40.039308 -76.387418
Congratulations, you have found the home of your dreams, but now what? Now is when the real work, planning, and fun begins. This is an exciting new chapter in life, full of great experiences. Take a few minutes now to create a to-do list and plan projects before moving day arrives! You will be glad you did.
Plan & Prepare:
•Hook yourself up – About a month ahead of the move, contact your current water, electric, cable, and phone companies. This will give you plenty of time to schedule cancellations and not incur any unnecessary charges. Also contact your new providers to schedule “turn-on dates”. Nothing would be worse than trying to move and settle in without water or electric!
•Update Insurance – Notify your homeowner’s insurance company of the change in your residence. If moving to another state, chances are you will have to get a new policy and maybe even a new company, depending on your current insurance company’s coverage.
•Go Postal – Recommendations are to file a change of address request with the USPS approximately 6-weeks before you move. You can stop by your local post office or complete it online at http://www.Usps.com. At the same time, it’s a good idea to remove your name from junk catalog lists (www.catalogchoice.org). Eliminate the extra clutter!
•Medical Records – If you are moving out of the area, it will be much easier to get a copy of your records now rather than later. You may need them to establish yourself as a new patient with another doctor.
•Local News – Sign up for the local newspaper in your new community. What a wonderful way to get to know the local shops, restaurants, and organizations; plus find out about upcoming events!
Pre-move Projects:
In addition to paperwork, utility switches, and other aspects of moving, now is a great time to consider home renovation projects. Many of them will be much easier to do before all of your belongings arrive!
•Replace flooring – This can seem a bit daunting now, but will be so much easier for all involved if you can do this project while the space is empty.
•Painting – Even if you can’t decide on new colors for every room, completing this in just one or two rooms is a great accomplishment. And again, it’s much simpler when you don’t have to crawl over furniture!
•Closet systems – Closet systems installed ahead of time will allow for easy unpacking; items can go from boxes right into drawers and on shelves.
•Electrical upgrades – If you’re moving into an older home and this is on the to-do list keep in mind that electricians are paid by the hour; get them in and out as quick as possible!
•Garage Storage – Have sturdy storage shelves to move? Have them loaded last, so you can get to them first. This will give you an immediate space for those “stored” items and will keep floor space open for other things.
Using the tips and hints here, you’ll find that all of this can be a pleasant experience.
Happy Moving!!
40.039308 -76.387418
Friday, December 14, 2012
Wednesday, December 12, 2012
Tuesday, December 11, 2012
Monday, December 10, 2012
The Fair Credit Reportin Act and Landlords
So you've decided to be a real estate inveator and become a landlord.
Are you complying with the Fair Credit Reporting Act?
Monday, December 10, 2012
By Douglas K. Marsico, Esq.
Prudent property managers screen potential tenants by making use of a rental application and obtaining a credit report. Most property managers are aware that Fair Housing Laws require that a refusal to deny rent must be based upon nondiscriminatory reasons.
A poor credit score is certainly a legitimate reason, however, if a credit score is the reason for an adverse decision to rent, the property manager must be aware of further obligations under the law.
Under the Fair Credit Reporting Act, a property manager or landlord must provide a written or electronic notification to the potential tenant whenever a refusal to rent is based upon a credit score. An “adverse action” based upon a credit score is broader than just a refusal to rent. It also includes:
•Requiring a co-signer or guarantor on the lease
•Requiring a deposit which might not be required from any other applicant
•Requiring a bigger deposit as compared to another tenant
•Raising the rent to a greater amount
Amendments in 2011 to the Fair Credit Reporting Act require that all of the following information must be in the disclosure when the adverse action was based on or in part of a credit score:
•The numerical credit score;
•The range of possible credit scores under the model used;
•All of the key factors that adversely affected the credit score of the consumer in the model used, the total number of which shall not exceed four (4);
•The date on which the credit score was created; and
•The name of the person or entity that provided the credit score or credit file upon which the credit score was created.
The credit score disclosure requirements are not applicable when a landlord’s adverse decision is based on information in an applicant’s consumer report other than the credit score. In such cases, the landlord must notify the prospective tenant that the adverse decision was based upon a credit report and:
•Provide the prospective tenant with the name, address and telephone number of the consumer reporting agency that provided the credit report;
•Inform the prospective tenant that the reporting agency did not make the adverse decision, nor can it provide reasons as to why the adverse action was taken;
•Provide the prospective tenant with notice of his/her rights to obtain a copy of the credit report, and to dispute with the consumer reporting agency any inaccuracies in the investigative report.
Violations of the Fair Credit Act can lead to civil penalties against the landlord and/or property manager. These may include actual damages or nominal damages of up to one thousand dollars if no actual damages exist. In the case of willful noncompliance, attorney fees and punitive damages may be imposed.
About Douglas K. Marsico, Esq.:
Mr. Marsico is an attorney with Caldwell & Kearns which serves as general counsel to PAR. A portion of his practice is dedicated to providing advice and counsel to real estate licensees and representing and defending real estate salespersons and brokers in civil lawsuits and licensing claims across the Commonwealth. He routinely counsels employers on employee relations issues as one of the voices of the PAR Legal Hotline.
Are you complying with the Fair Credit Reporting Act?
Monday, December 10, 2012
By Douglas K. Marsico, Esq.
Prudent property managers screen potential tenants by making use of a rental application and obtaining a credit report. Most property managers are aware that Fair Housing Laws require that a refusal to deny rent must be based upon nondiscriminatory reasons.
A poor credit score is certainly a legitimate reason, however, if a credit score is the reason for an adverse decision to rent, the property manager must be aware of further obligations under the law.
Under the Fair Credit Reporting Act, a property manager or landlord must provide a written or electronic notification to the potential tenant whenever a refusal to rent is based upon a credit score. An “adverse action” based upon a credit score is broader than just a refusal to rent. It also includes:
•Requiring a co-signer or guarantor on the lease
•Requiring a deposit which might not be required from any other applicant
•Requiring a bigger deposit as compared to another tenant
•Raising the rent to a greater amount
Amendments in 2011 to the Fair Credit Reporting Act require that all of the following information must be in the disclosure when the adverse action was based on or in part of a credit score:
•The numerical credit score;
•The range of possible credit scores under the model used;
•All of the key factors that adversely affected the credit score of the consumer in the model used, the total number of which shall not exceed four (4);
•The date on which the credit score was created; and
•The name of the person or entity that provided the credit score or credit file upon which the credit score was created.
The credit score disclosure requirements are not applicable when a landlord’s adverse decision is based on information in an applicant’s consumer report other than the credit score. In such cases, the landlord must notify the prospective tenant that the adverse decision was based upon a credit report and:
•Provide the prospective tenant with the name, address and telephone number of the consumer reporting agency that provided the credit report;
•Inform the prospective tenant that the reporting agency did not make the adverse decision, nor can it provide reasons as to why the adverse action was taken;
•Provide the prospective tenant with notice of his/her rights to obtain a copy of the credit report, and to dispute with the consumer reporting agency any inaccuracies in the investigative report.
Violations of the Fair Credit Act can lead to civil penalties against the landlord and/or property manager. These may include actual damages or nominal damages of up to one thousand dollars if no actual damages exist. In the case of willful noncompliance, attorney fees and punitive damages may be imposed.
About Douglas K. Marsico, Esq.:
Mr. Marsico is an attorney with Caldwell & Kearns which serves as general counsel to PAR. A portion of his practice is dedicated to providing advice and counsel to real estate licensees and representing and defending real estate salespersons and brokers in civil lawsuits and licensing claims across the Commonwealth. He routinely counsels employers on employee relations issues as one of the voices of the PAR Legal Hotline.
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