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Old 09-17-2010, 09:33 AM
 
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Just a few questions regarding rental ownership, taxes and insurance for SLC and surrounding area.

Does anyone know of a good property management company that covers sigle family homes or duplexes, one with a good track record of service?

Is there a large insurance bill people pay over their homeowner's policy (where I am now it is flood insurance) like earthquake insurance and/or increased fire isurance due to dryer more arid conditons?

What is a good area that would attract well qualified tenants that has a high rent to purchase price ratio? Sugarhouse and the 9th & 9th area, etc. seems very good with solid brick bungalows in the 150 to 250K range for the smaller one's with low taxes and rents around 1200 to 1500 plus range. This a good choice, any area more favorable?

Thank You
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Old 09-17-2010, 09:54 AM
 
Location: Mostly in my head
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In the city itself, I have never heard of anyone buying some kind of fire insurance except that which is normally part of a policy. Earthquake insurance is prohibitively expensive and I don't know anyone who carries it. Flood insurance is a national program kept artificially low.
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Old 09-19-2010, 10:48 AM
 
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Thanks Belle,

Got a DM on a property management company that looks good. Again just wondering if anyone has thoughts on an area with low crime, good future growth outlook and favorable rent to purchase price ratio.
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Old 09-20-2010, 07:54 PM
 
Location: Imaginary Figment
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I would NOT use Ledingham Properties to manager your home EVER.

Also, if you haven't bought yet I would wait on the sidelines. Prices still have a way to come down in the valley.
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Old 09-22-2010, 05:29 PM
 
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Good advice SLCPUNK. I am reading on KSL that there is more recent competition for good apartments due to increased demand with jobless numbers going down, but agree this might not reflect in home sale prices just yet.
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Old 10-02-2010, 10:15 AM
 
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Just wondering why earthquake insurance is prohibitively expensive, is this the case everywhere or do the insurance companies worry that the risk in SLC is higher?
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Old 10-02-2010, 11:04 AM
 
Location: Salt Lake City
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Quote:
Originally Posted by ShouldIMoveOrStayPut...? View Post
Just wondering why earthquake insurance is prohibitively expensive, is this the case everywhere or do the insurance companies worry that the risk in SLC is higher?
I don't know the answer to your question, but we used to have earthquake insurance until Allstate stopped offering it -- at any price.
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Old 10-02-2010, 11:31 AM
 
Location: Mostly in my head
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The risk is substantially higher here than in say, Louisiana. The Watsatch Fault will someday produce about a magnitude 7.5 quake. Look at the USGS maps, there are earthquakes every day in UT, just too small to be felt usually.
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Old 10-02-2010, 12:48 PM
 
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Thanks Katz and Belle,

This is rather sobering information, part of my relocation decision is based on getting away from coastal storms and flood insurance, but I don't necessarily want to jump from the frying pan into the fire. Plenty of additional food for thought here.
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Old 10-02-2010, 01:00 PM
 
Location: Mostly in my head
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According to this list, there have been 5 earthquakes today that could have affected the USA, but were too small probably.
Latest Earthquakes in the World - Past 7 days
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