Deaton Investment Real Estate & The Wake County Apartment Association

Tuesday, March 27, 2012

PROP changes - one perspective

The city of Raleigh is considering updating the PROP program (Probationary Rental Occupancy Permit) which imposes fines on landlords if they or their tenants are cited too many times for late-night noise or code violations. This came after many neighbors were fed up with loud parties and messy yards in Raleigh’s college neighborhoods.

The updates to this program that the city is considering go further by penalizing landlords if any of the tenants are convicted for a crime such as: prostitution, possession of stolen goods, possession and consumption of malt beverages, sale of machine guns or like weapons, possession of a firearm by a felon, gambling, riot or inciting riot.

Full article at link below...

Read more here:

Thursday, March 15, 2012

Deaton Newsletter - Bad Changes on the way for PROP?

The latest edition of Deaton Investment Real Estate's newsletter is available for review at this link.

In this edition:
PROP Changing For The Worse in 2012? - Article provided by the Triangle Apartment Association
Introduction: Landlords in Raleigh have been under the compliance pressures of PROP for many years. This article is a summary of what PROP is and the proposed changes which could be up for vote before the end of March. It is crucial that all landlords understand these policies are not specific to Raleigh. Other municipalities are trying to implement inspections and rental programs based on Raleigh's "success." These policies are spreading all over N.C. and the country. Make a point to be aware of what is happening in the places you own property.

- A sample of current listings and recent sale