Renters Insurance
31 Jul 2011 | No Comments | posted by jacobgrant | in Rental Owner, Tenant
At Jacob Grant Property Management we have begun a new program in which we require all new leases to have a certificate of renters insurance. We have secured a third party vendor to provide insurance in the case that either the tenant doesn’t have renters insurance or our third party is more cost effective. When we decided to start the program we had some concern about push back from lessors. Renters insurance is a benefit for all parties. For specific coverages and deductibles speak to a qualified insurance agent.
Benefits to tenant:
Protects the personal property of the tenant in the case of a catastrophic event. This is typical. To understand specific coverages you may discuss with your insurance agent.
- If the rental unit burns down, the owners insurance, or the property management company will not cover any personal property.
- If the freezer stops working and a tenant loses frozen food this will not be covered by a typical owners policy.
- Theft or break in of a car or home.
Typically provides a liability policy. The minimum that Jacob Grant Property Management requires is 100,000.
- If tenant is found to have been purposefully or accidentally negligent and it causes damage to another person’s property. Examples could include starting a grease fire that burns down a building, or having a babysitter slip and fall on wet flooring.
For approximately $15/month it is easy for tenants and landlords to see the benefits of requiring insurance. If you are a current tenant with Jacob Grant Property Management you can secure renters insurance in less than 5 minutes. If you are interested in more information go to epremiuminsurance.com
How to Save on Your Power Bill
15 Dec 2010 | No Comments | posted by jacobgrant | in Tenant
With the cold weather coming in and the electric bills going up there are several items to do to help reduce your power usage. These are 3 tips to help lower your power bill.
1. Lighting is one of the easiest places to start saving energy. Replacing your five most frequently used light fixtures or the bulbs in them with ENERGY STAR qualified lights can save more than $65 a year in energy costs. ENERGY STAR qualified compact fluorescent light bulbs (CFLs) provide high-quality light output, use 75% less energy, and last 6–10 times longer than standard incandescent light bulbs, saving money on energy bills and replacement costs.
- Remember to always turn off your lights when leaving a room. Turning off just one 60-watt incandescent bulb that would otherwise burn eight hours a day can save about $15 per year!
2. Consumer electronics play an increasingly larger role in your home’s energy consumption, accounting for 15 percent of household electricity use. Many consumer electronics products use energy even when switched off. Electronics equipment that has earned the ENERGY STAR helps save energy when off, while maintaining features like clock displays, channel settings, and remote-control functions.
- Unplug any battery chargers or power adapters when not in use (like your cell phone charger!).
- Use a power strip as a central “turn off” point when you are done using equipment.
- Even when turned off, electronic and IT equipment often use a small amount of electricity. For home office equipment, this stand-by or “phantom” power load can range from a few watts to as much as 20 or even 40 watts for each piece of equipment. Using a power strip for your computer and all peripheral equipment allows you to completely disconnect the power supply from the power source, eliminating standby power consumption.
3. A ten minute shower can use less water than a full bath.
- With a new 2.5 gallon-per-minute (low-flow) shower head, a 10-minute shower will use about 25 gallons of water, saving you five gallons of water over a typical bath. A new showerhead also will save energy — up to $145 each year on electricity — beating out both the bath and an old-fashioned showerhead.
- To avoid moisture problems, control humidity in your bathroom by running your ventilating fan during and 15 minutes after showers and baths.
For this and more information go to energystar.gov
Deposit Frustration
5 Oct 2010 | No Comments | posted by jacobgrant | in Tenant
Deposits can be a very sore subject for residents and landlords. Residents complain about having their deposit unfairly withheld and landlords complain of not having enough deposit to cover the damages. These are some steps to help avoid having deposit unfairly withheld!
- Sign a checklist and/or take pictures of the apartment/house BEFORE you move in. A signed agreement is best.
- Request a cleaning checklist from the landlord or the property manager.
- Ask about a cleaning fee or a carpet cleaning fee is to be held after the termination of the lease. This should also be evident in the contract.
- Follow all terms in the lease. A broken lease is almost always grounds for forfeiture of deposit.
- Don’t make repairs yourself: Many times people will make repairs to save money. Often times, this costs more money to repair because the landlord/manager has to “re-fix” the problem. The best solution is to talk to your landlord/manager about the most cost effective solution.
- Leave plenty of time for cleaning. Even after a short time it can be surprising how much dinge can build up in and around toilets, on baseboards, mini blinds, stoves, etc. Refer back to your checklist. Moving takes so much time and involves so much stress. Leave time for cleaning.
- Refer to checklist or pictures: Look back to your checklist and/or pictures from before you moved in. Leave the apartment in as good as or better condition than when you arrived.
- Review: Once you think your are done cleaning, walk through and review details. Details that are often forgotten are clean blinds, clean floor under stove and fridge, tracks on windows.
- Don’t: Ignore problems. Sometimes people will ignore cleaning because they have done damage. People that do this, typically end up with a huge bill after they move out. You are better off to do what you can and just be upfront with your landlord or manager.
Other things to keep in mind: Contract maintenance and cleaning is very expensive. Many times, just to have a contractor show up can cost $50-$100. Even if all a tenant does is forget one item it can be relatively expensive.
You should receive your statement and check within 21 days of proper termination of the lease. If you haven’t receive received a statement or a check within 30 days make a phone call or write a letter. If you think your deposit has a mistake write a letter and specify the mistake(s) made.
