Pengol Property Management
Pengol Property Management – Valentine is the premier Phoenix-based full-service property management specialist with 30+ years of experience assisting and educating thousands of property owners and investors in the purchase, rehabilitation and management of high performing rental properties of all types. Our industry knowledge, unique digital marketing and our team of experienced professionals come together to produce measurable, bottom-line driven results for each of our clients.
Experienced real estate investor with multiple properties; A casual landlord who has just inherited property; An owner considering renting your home for the first time;
Pengol Property Management
Valentine understands that marketing is the key to maintaining your return on investment, as vacancy is an owner’s most expensive expense. Based on experience, we provide a market analysis unique to each property. We use up-to-date data and trends in creating personalized digital marketing combining social media and traditional MLS. And we provide ongoing analysis to maximize the value and return on your investment.
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The Valentine Asset Service team conducts extensive tenant screening to target high value tenants for your properties. VAST’s skilled professionals qualify each tenant, prepare and execute leases, provide relocation services, collect rent and distribute your rental income back to you. Sign up for our direct deposit program and we’ll deposit your rental income directly into your bank account.
The Valentine Field Asset Service team performs move-in and move-in inspections with documentation and photos of your property’s condition. In addition, VFAST conducts routine on-site inspections to ensure that tenants maintain your investment, with issues being resolved promptly. When needed, Valentine provides repair and maintenance services with experienced contractors to keep your investment in top condition to maximize your rental income.
Valentine provides our clients with monthly accounting statements that list your monthly income and expenses along with annual tax documentation, so record keeping is easy. With our fully integrated accounting solution, you have a digital paper trail with annual reconciliation. Valentine delivers the records you need, ready to back up. 2 This presentation and the copyright therein is the property of Maureen Noonan and has been prepared for the benefit of students enrolled in the Commercial Transactions course conducted by the Law Extension Committee and is available for individual study. Any other use or reproduction, including reproduction by these students for sale without consent, is prohibited.
3 Introduction Students in this course are expected to remember what they have learned in Contracts and Torts and to be aware of both equitable and legal interests and remedies. Students are encouraged to follow trade news, note papers, questions and cases related to our course and discuss them in class to consolidate theoretical knowledge. They are also welcome to share any relevant experiences with the class. Much of the law we deal with in this course involves issues that we either face in our own lives or see happen to other people on a daily basis. In several modules of our course we deal with relatively new laws. e.g. Australian Consumer Law and Personal Property Securities Act. In both cases, textbooks and reference books (and old exam questions) may be out of date.
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4 Personal property In this module we discuss the most common types of personal property, the object of commercial transactions. Next, we look at some ways to acquire or dispose of an interest in personal property, other than by purchase/sale, and the applicable law.
5 What is property? Something we can own, have certain rights over. What is personal property? Any type of property that is not real property. Choices in Possession Tangibles – an object with a physical form that can be possessed. Examples: Cars, boats, machines, telephones, computers, toys, clothes, furniture, bedding, minerals, food, industrial items Choice in action Intangible rights-personal property that can be claimed or enforced only by action, not by possession. Statutory – applicable in common law jurisdiction Statutory licences, interests in intellectual property, right to sue for debt, rights of shareholder, negotiable instruments, insurance. Equitable enforceable in equity, not common law jurisdiction Interest in partnership, Intestate rights, Interest in trust property.
Even in the realm of physical things, new challenges are constantly arising. Consider the questions raised in: Does the water robber have title to the mixed product? Implications for property law and the criminal process Monash University Law Review, Vol 38, No 3, p 35 Who would have thought anyone would care about sewage?
7 Choices in Action While it is relatively easy for students to understand scenarios involving physical objects, some have more trouble with intangibles. We briefly review some of them to ensure that students will identify them in a specific situation and be able to understand the legal issues surrounding them.
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Valuable rights. Some traded. Some personal. Mining rights – precious metals, iron ore, oil, etc. To use software To use IP – copyright, trademarks – e.g. franchises To take a natural commodity-fish, water To drive a taxi. Note the disruptive entry of UBER To carry on a particular profession or business To use territorial airspace To use privileges through treaties and legislation
Relevant to drafting an appropriate definition in an agreement. It may include: Financial, technical, strategic or business information Trade secrets, know-how, processes and techniques Business and marketing plans and forecasts Software or computer records, lists of customers or suppliers Details of agreements or arrangements with third parties Lists of contractors, company employees or agents Designs, plan drawings and models Any other information that is confidential to this company. e.g. think about the type of information an executive might acquire in the course of his job.
A combination of legal and practical steps Conduct an information audit…restrict access to critical confidential information (practical) and include provisions in employment contracts or separate confidentiality agreements (legal) Create a confidential information policy and cover aspects such as use and ownership of contacts. Include social media contacts?
Woolworths was able to effectively defend itself against the misuse of confidential information by a director. Olson, director, is involved in a supply chain streamlining project. The project had already cost $1 billion, and the information about it was sensitive. Olson signed a confidentiality agreement. He was also secretly negotiating with a competitor to start working for them. When he received an offer, he sent two s containing several confidential project documents to his wife’s address. Woolworths discovers the s, receives an order from Anton Piller, and removes Olson’s wife’s computer before the s can be opened. The court found that sending the documents to his wife’s account (a third party) was a violation of his employment contract. By sending the s, a reproduction of the documents was made on Olson’s server (which is capable of further reproduction when the sent s are downloaded or deleted). Olson infringed copyright even though the s were never opened.
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In contrast to the speed with which Woolworths was able to act on the litigation between Optiver Australia Pty Ltd and Tibra Trading P/L 2006-? Optiver, a high-frequency trading operation, alleged that former employees took software and confidential information with them when they set up their own operation in competition with Optiver. Optiver claimed damages etc. under s. 115 Copyright Laws… amounting to hundreds of millions of US dollars.
14 Consultants English case of Force India formula One Team Ltd v 1 Malaysia Racing Team SDNBHD & ORS [2012] Italian aerodynamics company Aerolab was ordered to pay €25,000 to Force India for misappropriation of confidential information relating to the design of an aerodynamic model a tunnel half the size of a Formula 1 racing car. In 2010, Aerolab was retained by Team Lotus Formula 1 shortly after it had already undertaken similar work for Force India and used information gathered during Force India’s work… .copied some computer files…allowed them to take shortcuts by providing a more advanced model to build from…but did not result in a complete copy of the Force India design. In the absence of an applicable restrictive covenant, an employer may not prevent an employee/consultant from using information that is part of his own skills, knowledge and experience, even if it is confidential and learned in the course of employment, but is entitled to the protection of confidentiality with respect to information that may otherwise constitute a trade secret. The measure of damages is that which would otherwise be agreed upon between a willing licensor and a willing licensee acting reasonably at the date of the breach for permission to use the confidential information…here Aerolab would have to expend time and expense to design and prepare the appropriate parts of Lotus if they have not misused the confidential information.
15 Value Added Note that in both previous cases the value of the software ….confidential information misused….was in saving time to achieve the first step, not in exactly copying an identical result. There can be considerable difficulty in assessing this contribution and therefore assessing damages.
Proceedings commenced in the Supreme Court of NSW. Internet executives are suing rock band INXS for $2.8 million, claiming they pitched a concept to the band and manager — a website that advertises big brands and lets them download songs, ringtones and music videos. Just as they were about to sign a sponsorship deal with Telstra, the manager scrapped the project only to create a “largely similar”
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