Recent Posts: Home Ownership

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Insurance Coverage for ReModels, Part 2.

In an earlier blog (https://tinyurl.com/yyzlf5qf) I discussed checking that the contractor has injury, property damage, workers’ compensation and liability insurance. I also suggested purchasing builder’s risk insurance. Another option is completed operations insurance. Completed operations insurance offers a safety net once the project is completed. For example, if you had a new garage door installed […]

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HOA Renter Laws, Part 1.

If your home is in an HOA and you rent, the association can ask for certain information about your tenants. It is limited to the name and contact information of all adults occupying an unit, the term of the lease, and the license plate numbers of the tenant vehicles. It can also charge up to […]

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Avoid Lead Removal Liability.

Part 3. The disclosure part of the lead removal rules (see part 1 and 2 for the other guidelines) requires that an EPA booklet entitled “The Lead-Safe Certified Guide to Renovate Right” be supplied. This document must be supplied before the work is done if there is an existing tenant. The booklet must be supplied […]

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Floodplain Insurance Requirement Dropped.

Hundreds of Scottsdale residents in the Grayhawk master-planned community have been removed from the Rawhide Wash 100-year flood plain. This revision to the flood insurance rate maps means pricey flood insurance is no longer mandatory for those home owners with a federally-backed mortgage that are now outside the boundaries of the 100-year flood plain. Those […]

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Plant Your Trees Right.

Most city codes require that trees when fully grown do not extend into street or utility right of ways. Although you own that land, a right of way limits your use of that area. Street right of ways are located along the street portion of a property and typically are a minimum of 10 feet. […]

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Do you have Lead Removal Liability?

Part 2. If you renovate a home with lead paint, professional remediation techniques are required if you remove paint on any window, on more than 6 square feet of interior, or on more than 20 square feet of the exterior. The work must be done by a “Certified Renovator”. The contractor will be have to […]

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Rehab Lead Removal Requirements, Part 1.

If you buy and fix up older homes to sell or hold as a rental, you may be subject to lead disclosure and remediation requirements. Many people are familiar with the lead paint disclosures, which are required upon sale or rental where the property was built before 1978. But the lead renovation rules are different. […]

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Don’t Overpay for Title Insurance, Part 2.

Refinancing and Resale Rates. When refinancing your existing mortgage or selling your home, you may be entitled to a title insurance and escrow fee discount. The applicable discount when refinancing is called a “reissue rate.” A reissue is an extension of a current policy at a reduced premium. Obviously you must use the same title […]

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The “Ugly” Property Next Door.

Is an unsightly home ruining your property’s value and your neighbor won’t do anything about it? Neighbor disputes are one of the reasons people move, with 13% of Americans say they have moved just to get away from a neighbor according to North American Van Lines. If you want to try to do something about […]

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Colorado Legalizes Rain Barrels.

Until recently it was believed to be illegal to connect a down spout to a rain barrel in most urban areas in Colorado. Rain barrels are a great way to collect our periodic rainfall for garden use – I have three with 40 gallons capacity each. The problem in Colorado was an interpretation of the […]

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10 Musts when Hiring a Contractor, Part 2.

Numbers 6 -10: 6. Get a Written Contract. Obtain and keep a written copy of all contracts, change orders, and receipts. Contracts for jobs costing more than $1,000 are required by Arizona law to provide specific information about the project (e.g. a description of the work, a completion date, deposit amount, progress payment schedule, and […]

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Build Wealth Thorough Home Ownership.

The net worth of a homeowner is on average over 44 times greater than that of a renter. One way to look at it is that home ownership works as a form of forced savings. Every time home owners pay their mortgage, they are contributing to their net worth by increasing the equity in their […]

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10 Musts when Hiring a Contractor, Part 1.

1. Verify the Contractor is Licensed. Verify the contractor is licensed and has the correct license for your specific project by going to www.azroc.gov, and check to see if the contractor is in good standing and has any past complaints. 2. Three Bids. Ensure you don’t pay too much for the project by getting three […]

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Insurance Coverage for Remodels – Are you insured?

Protect yourself during your next major remodel: 1. Make sure the contractor has insurance for not only injuries and property damage, but also negligent workmanship and injuries sustained on the job. Check also for workers’ compensation and liability insurance, and get copies of all of the certificates of insurance. 2. Consider purchasing builder’s risk insurance. […]

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Can you Do a Short Term Rental in a HOA?

Arizona law states that a member of a HOA may use the member’s property as a rental property unless prohibited in the CC&Rs per A.R.S. §33-1806.01. Accordingly, unless the CC&Rs expressly restrict “vacation rentals,” “transient lodging” or “short-term rentals,” Airbnb and VRBO type rentals within a homeowner association community are probably lawful. If the current […]

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