“The real enemy of safety is not non-compliance, but of non-thinking.” Rob Long

After dealing with some health issues, I am happy to be back to my weekly newsletters. I appreciate the kind responses from several of our readers.

Starting January 1, 2026. All rental units rented after that date must comply with AD 626 (McKinnon). After that date, you must supply each new tenant with a stove and refrigerator which are in good working order and are less than 10 years old.

The bill also addresses things like heating, waterproofing, having an adequate amount of receptacles for trash and garbage and providing locking mail boxes. Most housing providers do this normally, but this makes it a bit more formal. If you use property management, they should keep you posted on any deficiencies, but if you are self managed, as I am, you need to visit your units to make sure you are in compliance.

THERE ARE EXCEPTIONS. Some tenants prefer their own stove or refrigerator. I have rarely had a tenant ask for their own stove, but I recently had a tenant ask me about bringing her own stove because she felt it would like better than my older stove in a unit which was recently remodeled. In such a case, it is important to document everything and you are responsible for maintenance. This can be a consideration if a tenant wants to bring in an older appliance or one that is difficult or expensive to repair.

DOCUMENT EVERYTHING. This is always a good policy. Add pictures of the appliances for the units if possible, in case you ever have to go to court. Keep receipts and warranties. Document any conversations with any tenant regarding their appliances and put that in their file so that you will have a record if needed. Keep any repair bills for the appliances and keep in the tenant’s file. Remember, you are only required to provide a stove and refrigerator under 10 years old and in good working order, and to maintain them. Basic units are adequate.

“If I am through learning, I am through.” John Wooden

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 or you may want to move into a more passive real estate investment, such as a triple net or a DSL.. 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.