REAL ESTATE JOURNAL
FALL 2022
2. Change, Learning, and Leadership: The Big Three of the New Economy
10. Property Management is a Liability-Rich Endeavor
3. NREIA Legislative Update 5. It All Comes Back to Communication
15. RPOA’s Clay Powell Set to Retire in January
8. Partnerships
16. Questions on Trusts and Trustees
9. Five Roles Your Company Should Outsource
18. Stop Asking for a Mentor
Circulated To Over 40,000 Real Estate Investors Nationwide
$4.95
The Blame Game is a No-Win for Landlords
RE Journal
Member Spotlight
Vol. 7 Issue 4
By Scot Aubrey
I Ryan Basye
R
yan Basye was born and raised in Omaha, Nebraska. After stints in Minnesota and Colorado he moved back to his hometown during the 2005 real estate downturn. He now lives with his wonderful wife, Ali, and their three girls. He convinced her to “flip” their first house together which was a huge success. Ryan works full-time at Nebraska Realty and owns several other real estate inspired businesses. In addition, Ryan owns and runs a real estate non-profit called On Deck Housing. Ryan is a member of Omaha REIA, in Omaha, Nebraska.
Please tell us a little about who you are and what you did before getting into real estate investing:
f you have spent more than 30 seconds in the last year watching cable news, you are more than familiar with something called “the blame game.” Regardless of political party affiliation, age, race, gender, sexual orientation or any of a host of other categories, it appears that our society has become a place of great divide. As a landlord you are not immune to this growing epidemic of blame and, in fact, you’re likely to take more than your fair share of blame when it comes to tenants and their problems. After all, those same media outlets have spent years painting the picture of the “big, bad landlord,” creating an evil, money-focused image that even the happiest of tenants sometime buy into believing. The reality is, you are going to get blamed, but are you liable? Let’s create a blame framework for this by using a scenario where a tenant or guest of a tenant is injured by a weapon that the landlord allowed on the property. To create some protection for
or invitee, the landlord does have some basic duties to the tenant in every residential lease, single family or multifamily of every kind and variety. Here is the basic legal test for this scenario:
1. Duty Generally, the duty of the landlord Continued on Page 14
The Great Retirement-Plan Savings Crisis
What Real Estate Investors Can Do About It By John Bowens
I
s America facing a retirementplan savings crisis? Data suggest a majority of America is not adequately prepared for retirement, forcing Americans to work longer, downsize their standard of living, make difficult sacrifices, or rely on their children or other family members. Gone are the days of corporate-sponsored pension plans with the passing of the Employee Retirement Income Securities Act (ERISA) in 1974, shifting the burden from corporations to individual workers
I have always been one of those Continued on Page 12
Rental Housing Journal, LLC 4500 S. Lakeshore Drive, Suite 300 Tempe, Arizona 85282
you as a landlord we must first turn to the general principle of negligence law and liability. It is helpful to understand the basic law and how to apply it in a real landlord/tenant situation. Every landlord must have a handle on these basic principles so we will discuss the law and then get back to the questions. Whatever the cause of the injury/ damages to the tenant, occupant, guest,
Published In Conjunction With
nationalreia.org
rentalhousingjournal.com
to save for retirement. What will future generations have to look forward to? What about Social Security? Although these issues might not be widely discussed today, a crisis is quickly surfacing, and the generations beyond the baby boomers could be facing even greater challenges.
The Sobering State of Retirement Readiness According to a U.S. Government Continued on Page 6