“I am grateful for what I am and have. My Thanksgiving is perpetual.” Henry David Thoreau

We are all celebrating another Thanksgiving. We hope that yours is full of family, fun, football and great food. Keep in mind all you have to be thankful for. However, as a housing provider, don’t forget about the safety of your tenants and their families as well as your building. I was looking at some tips offered by the Los Angeles Fire Department.

TELL THEM TO KEEP AN EYE ON THE KITCHEN. They shouldn’t leave the kitchen unattended. They should keep the area of the kitchen clear and also be careful about electronic overload. Keep children away from hot stoves and hot foods and liquids. Also keep children away from knives which may be plentiful in the kitchen during the preparation of their feast. These are things they already know, but it can’t hurt to mention it when you are at the property. You can send an email to your tenants or just post a notice in your laundry room if you have one. The Los Angeles Fire Department says that they experience three to four times the average for cooking fires on Thanksgiving, the most of any day of the year.

DEEP FRYING THE TURKEY. This can be quite dangerous. They should ONLY be used OUTSIDE and NEVER inside the unit. They are becoming more popular as time passes. NEVER use water to try and extinguish a grease fire in your deep fryer if one occurs. If a fire starts, you may be able to have your tenants use a fire extinguisher, but if it is more serious tell them to call 911. And, of course, make sure the fryer has full-time adult supervision. Remember that the deep fryer can remain “dangerously hot” even hours after use.

BE SURE THE TURKEY IS DEFROSTED. The National Turkey Federation recommends thawing 24 hours for every five pounds of turkey. Among other tips the Fire Department recommends goggles and long sleeve shirts if deep frying the turkey. All these tips and more can be found at the L.A City Fire Department website:

www.lafd.org

We at PRS Properties want to wish you all a wonderful Thanksgiving without any unwanted surprises! All our best to you.

“Winning isn’t getting ahead of others. It’s getting ahead of yourself.” Roger Staubach

What we at PRS PROPERTIES CAN DO. We can give you a good idea of the current value of your building. We can suggest changes you might want to make before sale to give you an idea what type of building you would be able to exchange into. You may decide to stay in the rental business. We are always available to chat. We can give you referrals for professionals, such as lenders, contractors, and engineers, so that you can decide who you feel best with. We can supply you with rent and sale comparable in the area of your properties, so that you know what rental values are in your area. It is important that you know the true value of your rental units, so that you can get them rented right away at market value, or at least as much as possible with rent control restrictions. We can look at potential purchases that you may be interested in to make the property more desirable, and maybe look at potential issues that an insurer might require you to repair.

If you should decide to sell your building, we can help you exchange into a larger or smaller properties. We can even help you move into something with less management responsibilities. We can also help with getting the paperwork together for a refinance if that is your desire. We can also recommend experienced licensed contractors who can perform any repairs or installations you may need prior to selling. We can also look at your building for other easy and inexpensive changes that might allow you to get a higher value. We can help you to get the maximum value for your property, should you decide to sell, or the maximum return if you are planning to keep your building.

We are currently looking for “as-is” properties and are willing to purchase with low rents, deferred maintenance or even with a problem tenant in place. We can offer a 7 day escrow and all cash at closing. Give us a call. We have also put together numerous transactions over the years which involve properties that are not listed for sale. Many investors are currently in 1031 exchanges and need to identify a replacement property before their 45 day identification period runs out.

Should you decide to put your property on the market, we will put together an aggressive, targeted and professional campaign to get your property sold fast. We have been doing this for over 40 years, and we will use all the tools available to bring you the most dollars at closing. If you are thinking of selling or are just curious about the value of your property, don’t hesitate to give us a call.