06.25.2015 NEWS NOTE Recent Changes In Property Tax ...
01.15.2015 Credit Reports Alert: Because of another ...
01.20.2009 LISTING A RENTAL UNIT: You must first be signed ...

NEWS NOTE Recent Changes In Property Tax Assessments: By now, most of us have received reassessments of our personal and income producing properties. I hope you take a close look at these changes because many of us are in for an unwelcomed surprise. As an example, I’ll refer to two apartment buildings I own: Both are in the City of Maryville. The rents have been stable at both locations for years. Both are in similar condition and neither has received major improvements or expansions since the last county appraisal. Yet, the new assessment value on one property increased twenty-three percent and the other increased more than forty-five percent. Why such a big difference? If you happen to own a mobile home park, you’ve probably noticed your “use of property” has now changed from residential to commercial boosting your tax rate from twenty-five percent of assessed value to forty percent. Why, and why now? We met with officials from the property assessor’s office recently in order to understand how these changes are justified. There answers were vague and non-apologetic. Bottom line is they can care less. I’ve tried fighting city-hall before and it cost me over a quarter of million dollars. They make the rules. If the rule slightly leans in a direction that doesn’t meet their objective, they simply change the rules. Can anything be done? Yes. We can remember, ask questions, and vote in future elections. In addition, if you feel the assessed value they imposed on your property is unfair and excessive, you can complete a form requesting an adjustment. Will it help? Maybe. Because of increased assessments and recent hikes in the property tax rate, many of our members have already increased rents. Many others tell me they plan to. The tax cost increase this fall will be a significant eye-popper for many of us. It will be hard to absorb without passing it on to our tenants. Properties For Sale: Four Unit Apartment Building 1135 Law Rood - Louisville, TN. Assessed Value - $162,300 Sale Price: $155,000 Contact Johnathan Sitzlar [johnathansitzlar@hotmail.com] (865) 250-4732 Eight Unit Apartment Building 301 – 315 South Magnolia Street – Maryville – TN. Assessed Value - $339,500 Sale Price – 339,500 More photos - http://knoxville.craigslist.org/off/5080913320.html Contact Gary Heath (gary@goodlandlords.com) (865) 681-1207 Four Unit Apartment Building 1323 Lodwick Drive – Louisville, TN. Assessed Value - $150,500 Sale Price - $150,500 More photos - http://knoxville.craigslist.org/reo/5080854080.html Contact Gary Heath (gary@goodlandlords.com) (865) 681-1207
Credit Reports Alert: Because of another increase in cost and unreasonable demands from Equifax, Good Landlords will no longer be providing reports for our member effective January 24, 2015. Although a small percentage of our members utilize this service, several of you will be affected by this decision; therefore, we’d like to offer you the following report options as an alternative: RL Faulkner Professional Drug Testing Service Voice: (865) 660-7278 Fax: (865) 471-0729 Offers credit reports through TransUnion along with Nationwide Background checks. He is eager to work with our members and can provide the public records information so many of you depend on. In addition, he will provide monthly invoices similar to the method you are used to from Good Landlords. Please contact him for details and pricing. Experian Connect: https://connect.experian.com/account/home.html Is a new web-based credit reporting program designed with landlords in mind. You’ll need to setup a user account at the above web-site, but there is no cost to landlords for this service. Simply list your applicant’s name and email address. Experian with contact them via email for authorization to release you the report and the charge the applicant a $15 fee. Simple, the only flaw to this meathod is that your applicant must have an email account and a credit card. AppFolio: CALL TOLL FREE: 866.452.3358 Can be a solution for our high-volume members. They offer a full package of services including marketing the available units as well as detainer warrant history. There minimum monthly fee is $200. Blount County Public Records: Of the above listed options, RL Faulkner is the only source available for this report. However, you do have a couple of additional options. If you only do a few reports from time to time, a brief visit to the Blount County Justice Center may be your solution. A computer is available to the public and you may use it free of cost. Another option is to subscribe to the Clerk Date System. It’s a $50 per month charge, but it allows you check Blount County Records from your home computer with no limit and no additional cost. Please contact Laura Riley at Blount County General Sessions for details - (865) 273-5471.
LISTING A RENTAL UNIT: You must first be signed into the site. In the lower right section of the Home Screen, click “Member Details.” From here you may edit your information or under current listings, click “add new.” List the details of the property, upload a picture by selecting "Browse" and identifying the picture’s location on your computer. Click Submit, and you’re done. Set back and admire your listing.



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