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All Forum Posts by: Matt Shields

Matt Shields has started 26 posts and replied 334 times.

Post: No One Knows why there is a Bullet Hole?

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273

Your municipality probably has laws against the negligent discharge of a firearm and/or a tenant that poses a danger to the neighborhood. Here in Phoenix, negligent discharge of a firearm within city limits is a felony. Ariz. Rev. Stat. Ann. § 33-1368 allows for the immediate termination of a lease for the negligent discharge of a firearm on a property. 

Speak with an attorney asap. Firing a gun through a window could have injured or killed someone, and leaving him in place is a huge liability. Did you report this incident to the police? Anyone who fires a weapon out of anger should not own a firearm.

Post: What countertop do you recommend for a 4-br sfr?

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273

You want what conforms to the neighborhood. It's difficult to get the extra money for solid surface in a Formica neighborhood. Formica can delaminate, or if water gets in a seam the pressboard can bubble. It also burns easily. Granite should be sealed because it is porous and can stain. Marble stains and scratches easily. Tile is another option, but seems to not be as popular anymore as solid surface materials have come down in price. Concrete has caught on recently but can have staining and cracking issues. For durability only, I like quartz. Quartz is non-porous and harder than granite. 

Post: Please Help! Need Some Advice

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273

Federal laws and many state laws apply to real estate advertising for agents/brokers. For example, the broker name and fair housing logo must be included, and have display guidelines. I would wait until you have your license to get cards so you don't have to reprint everything. Broker's often offer sign-on bonuses like free or discounted business cards. Good luck! 

Post: The #1 Most Important Clause To Have In Your Lease

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273
Originally posted by @Craig Bellot:

@Matt Shields This was actually a multi family where it was hard to determine who exactly caused the issue. 

 Seems like it would be the same problem for multiple leases. I didn't do it!

Post: The #1 Most Important Clause To Have In Your Lease

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273
Originally posted by @Craig Bellot:

That’s true @Matt Shields   However I think it adds an extra level of transparency of its included in the lease and the “rent talk” with resident upon move in. 

 If that's the case in your state, why are you paying for the damage? 

Post: Fourplex with Evaporative Cooler in Phoenix, AZ

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273

"Swamp coolers" work well when the humidity is low, but during our storm season in late summer they will not cool enough. I don't believe quality tenants would rent a property in Phoenix without air conditioning. Most people who have an evap cooler also have AC. It is cheaper to run the evap with low humidity.  I would suggest you talk with an HVAC tech for guidance.

Post: The #1 Most Important Clause To Have In Your Lease

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273

Even if not in the lease, many states have tenant/landlord laws that hold the tenant responsible if the condition was caused by a deliberate or negligent act of the tenant.

As always, seek professional legal advice. Good luck.

Post: Security camera in rental?

Matt ShieldsPosted
  • Broker
  • Phoenix, AZ
  • Posts 351
  • Votes 273

Wow. That's creepy. Do you work for the government? In most states, an undisclosed audio or video device placed in the interior (non-common) of a private residence would be illegal and could also result in a civil lawsuit against the landlord. 

Be sure to check with an attorney before you do this, and maybe your conscience. 

Originally posted by @Lee Bell:

keep in mind that appraisers often don't assign any value to unpermitted square footage.

Appraisers don't give or assign value. We report what is there, and how the market reacts.

Yes, we may say I gave that tumble down shed no value. Would you think it had value? 

Fannie Mae wants to "give" value to unpermitted additions, IF that is what market particpants do. Of course they want you to supply comps with unpermitted additions. Oye. Anyway, I am picking nits.

Get permits for add on rooms and big stuff. Don't sweat the little stuff. Try not to do things that may bite yout butt. Like airbnb.

 From the Universal Residential Appraisal Report "Fannie Mae Form 1004" : The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.

This is why any potential AirB&B purchases should also work as a normal rental. Municipalities are under pressure from the hotel industry to ban AirB&B's, and even if a location is currently legal the laws can change.

City's don't care if you have the biggest, nicest, bestest home in the area, but they do care if you are running an illegal business with unpermitted construction, and torked-off neighbors complaining won't help. 

The reason you are their focus is that cities are always over budget and looking for money. Hotels usually pay high local taxes and employ a lot of city citizens who also pay taxes. Add to that the unpermitted addition that no property taxes are being paid on and the city is going to take a real disliking to you. 

If you sell, keep in mind that appraisers often don't assign any value to unpermitted square footage. In many states, tenants can sue a landlord for renting an illegal structure. I would also ask your insurance agent if you are covered if someone is injured in a non-permitted addition? Eventually, a sale or the government causes the unpermitted additions to bite the homeowner in the butt.

As always, seek professional advice. Good luck.