Expect the Best, Prepare for the Worst!

Sometimes bad things happen to good Associations… a fire or flood destroys several units, and the repair costs are huge. Even if the problem can be narrowed down to negligence by a single owner, you’d be surprised to learn that the Association’s master policy might be required to cover the entire expense. What can an Association do to protect itself? Here are 5 practical steps an association can take to protect the property and the residents:

1. Review and update maintenance standards regularly. 

Unit owners should be performing routine, preventative maintenance to their units, just as any homeower does. Checking the water heater for leaks is simple, no cost, and can prevent huge amounts of damage.

2. Perform a yearly review of the Association’s master insurance policy.

Connecticut law currently requires that the master policy cover the costs of clean-up and restoration, while the owner is responsible for their personal items in the unit.

3. Make certain everyone is insured.

Owners need to carry HO-6 Homeowners Insurance equal to the Association’s master policy deductible. Their tenants should carry insurance as well. This will help the Association at least recover the deductible amount if a situation occurs.

4. Take on responsibility of performing tasks in high-risk areas.

Yearly inspections and cleaning of dryers vents and chimneys should be required, and built into common charges or billed back to each owner to ensure compliance.

5. Reinforce the importance of preventative maintenance with owners on a regular basis.

This can be done with newsletters, emails, website updates and covered at annual meetings. 

Floods, fires and other disasters can occur anywhere, without warning. It is the responsibility of the Board and manager to eliminate as many dangers as possible.

The NEW American Dream

It used to be that everyone young person's dream was to get married and buy a "starter" home. They hoped to build equity in the home then, years later, sell if for a large profit. Then our country experienced the financial crisis of 2008, when the U.S. housing market suffered widespread losses. While we still have a desire to have our own space with the freedom to remodel it as we wish, the effects of the housing crisis may have prompted a more cautious approach by buyers who are more realistic about the level of equity they can build in their homes. Homeowners and prospective homeowners are now looking more closely at the costs and benefits of such a large transaction. While a home is still a good investment, many financial experts still caution against purchasing a home for the sole purpose of making lots of money.


 
For many Americans with active lifestyles, renting is a great way to free up time that would normally be spent maintaining a house and yard. Renting also provides the freedom of being able to pick up and move without the burden of having to sell a house.

Here are a few more benefits of renting:

• Flexibility. Renting allows you to explore an area before making the longer-term commitment to homeownership. From schools to shopping to neighbors, each neighborhood had benefits and drawbacks that may not be obvious during the relatively quick home buying process.
• Career uncertainty. If you think you might need to move in the near future, or are considering job changes that may require relocation, you might want to rent.
  
• Income uncertainty. If you expect a pay increase or decrease in the near future, that can change your borrowing ability as well as impact your ability to make mortgage payments.
  
• Poor credit. Creating a history of on-time rental payments can help you build the type of credit you'll need to qualify for a home loan.
  
• No maintenance expenses. When problems arise, you simple call the landlord.
  
• Utilities. In some instances, the landlord may pay for many utilities such as water, sewer, trash removal, maybe even heat and hot water.

Whether renting or buying is more cost effective depends on your market, where you choose to live and whether you like to do home improvement and maintenance projects yourself. Should you decide that renting is for you, give Premier Property Management Services a call at (877) 208-4570 and let us help you find the perfect apartment!

Apartment for Rent

We have a new apartment available on West Street in Hartford! It's in the process of being renovated, but it's available to be shown. 2 bedrooms, 1 bath, larger sized rooms, both bedrooms have double sliding door closets, screened-in private porch off of the living room. The building is secured with off street parking. Each floor is secured and the elevator is also secured, requiring a key in order to select a floor. Every floor has it’s own laundry room. The rent is $900 a month, which includes heat and hot water, and we require 2 months security deposit. In order to apply, applicants must provide a $25 fee per adult applicant along with proof of income (copies of 2 recent pay stubs) and a recently printed credit report (www.creditkarma.com is a free credit report service)

Tips for Preparing Your Condo to Sell

In today’s buyers market, it is more important than ever to make your condo unit more attractive to potential buyers – it’s very important to present it at its best!

Here are a few no and low cost things you can do to make your condo more appealing to potential buyers. Some are DIY projects and others require the help of a professional. Either way, these upgrades can help you get top dollar for your condo unit.
 
De-clutter and De-personalize: This is probably the easiest, most effective change you can make. When it comes to showing your condo, less is more. Put away gadgets, small appliances, knickknacks, personal photographs and religious items. Keep in mind that you want the buyer to remember the condo unit, not your “stuff”!
 
Clean It Up: Dust, vacuum, clean the glass, wash the floors and counter-tops. People cannot envision themselves living in a dirty home.
 
Upgrade Hardware: Changing the cabinet hardware is a simple and cost effective way to give a new, modern look to an old cupboard door.
 
Upgrade Light Fixtures: Replace old, outdated light fixtures and switch/outlet cover plates. Make sure there are no burned out bulbs.
 
Paint: Freshen the interior of your condo unit with a new coat of paint. Use neutral colors (white, gray, beige) to make the space appear larger than it is and allow the buyer to envision their own furniture in the space.
 
Upgrade Flooring: Replace worn or stained carpet with a neutral berber style. Cracked linoleum can be replaced with vinyl tiles or laminate.
 
Kitchens: If it’s not in your budget to renovate the whole kitchen, consider replacing old appliances with stainless steel. Stainless steel appliances are sleek and will give your home that modern touch. Cabinet refacing or even painting can also bring new life into an old kitchen. A new laminate counter-top is also an inexpensive way to freshen up the kitchen.

Baths: Update the vanity cabinet and replace old fixtures. Make sure mirrors and glass doors are spotless. Clean grout and or ever consider painting outdated colored grout with a more modern, neutral color.

Your potential buyers only get a few minutes in your home, make them count!

Your New Home is Waiting for You!

At Premier Property Management, we offer more than more than management services. We can also help get you into a fabulous new apartment!

Why risk losing your money to an online scam when you can trust our professionals to help you find the apartment of your dreams at the price you can live with?

Here are some of the properties we currently have available:

Hartford

404 Hillside Avenue – 2 Bedroom (3^rd Floor): Living Room, Dining Room, Kitchen, Bath. New paint, new floors/carpet. Washing machine hook-up, no dryer. Street parking only. Tenant pays utilities (Gas & Electric) $800 per month.

East Hartford

133 Prospect Street – 1 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint, Washing machine and dryer in basement. Off Street parking. Heat & hot water included. $800 per month.

133 Prospect Street – 2 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint, Washing machine and dryer in basement. Off Street parking. Heat & hot water included. $900 per month.

New Britain

84 Belden Street – 3 Bedroom (3^rd Floor): Living Room, Kitchen, Bath. New paint, new floors/carpet. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Gas & Electric) $900 per month.

Bristol

403 West Street – 2 Bedroom (1^st Floor): Living Room, Dining Room, Kitchen, Bath. New paint. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Oil & Electric) $800 per month.

403 West Street – 2 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Electric Heat) $700 per month.

403 West Street – 1 Bedroom (2^nd Floor): Living Room, Kitchen, Bath. New paint, New Carpet. No washing machine hook-up, no dryer. Off street parking. Tenant pays utilities (Electric Heat) $500 per month.

Give us a call at (877)  741-3317 or visit us online to learn more about leasing with us!