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It seems a new trend is emerging in the real estate investment industry. This new trend is costing new real estate investors plenty for past due bills of former property owners and tenants. Utility companies and County agencies are sending bills

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

without checking ownership or other records, perhaps with the hopes that new owners will pay up with no questions asked. This would instantly produce additional revenues.

I recently witnessed two instances of this new trend. One client received a

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

city bill for “rental housing license and refuse collection fees for rental properties.” My other client owned a property for almost a year and the tenant’s lease ended. She called to turn on the utilities for the city inspection, only to learn t

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

here was an outstanding bill for the water and electric.

You may ask what is the big deal? Well my first client was sent for “rental housing license and refuse collection fees for rental properties,” with an invoice date of January 3, 2006. My cl

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ient purchased the property as an investment property in September 2006, almost eight months after the invoice date.

My other client called to turn on the water and electric, only to learn there was an outstanding bill for both utilities.

In the c

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ase of the water the outstanding bill was approximately $2,000. The electric bill had a balance of approximately $900. The water bill was attached to the property and now the responsibility of my client and not the former tenant. The electric

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

bill went unpaid by the former tenant and the electric company transferred the bill to the property owner.

To date, I am still working with my client to resolve the transfer of the outstanding electric bill and to provide documentation for the outs

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

anding water bill.

When you purchase a new investment property, the settlement company or settlement Attorney performs a title search to determine that the seller owns the property and has a free and clear title. A free and clear title has no clou

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ds on the property. In other words, no person or business other than the seller has an interest or claim to the property, this also includes any liens.

Once the title search is completed, there is a deed issued when a property is purchased by a ne

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

w owner. These deeds and laws vary from state to state and commonwealths. Contact a qualified settlement company or settlement Attorney with any questions regarding the types of deeds for your state or commonwealth.

The following is a list of sug

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

gestions to assist you with resolving any past due bills by former property owners or tenants.

• Have all the major utilities (gas, water, electricity) turned on by the settlement date. This will allow you to know if there are any past due bills

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

created by the past property owner or tenant. If you are not able to postpone the settlement, you may request that the settlement company or settlement Attorney withhold money in escrow. The money placed in escrow should be enough to cover the out

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

standing bill(s) and any other fees that may be charged.

• If you are purchasing an investment property that has an existing tenant and the utilities will remain in his/her name. Write a letter addressing all of the utility companies stating tha

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

t the current tenant is responsible for the utilities. Have the tenant sign and along with your signature. Make sure that you have the letter notarized just in case there is a future dispute.

• Create a closing package that includes your HUD-1 s

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

atement, a copy of the any deeds, the contact information of the settlement company or settlement Attorney and your Realtor. This will allow you to access the information to quickly to resolve any issues.

• If you have a dispute for an outstandin

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

g bill that is not yours, I suggest that before you call or make an in person visit, write a letter to the utility company, County agency, settlement company or settlement Attorney. Be sure to include any supporting documentation, as well as, any

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

documentation that was sent to you. When you send your letter(s), keep a copy for your records and send it registered mail with a return receipt, not via UPS or Fed-EX or regular mail.

Whether you own one or dozens of investment properties, these

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

suggestions can assist you with protecting your privacy and wealth. Do not allow the past bills of former property owners and tenants cause you to spend your time or money.

For more information or assistance with setting up a real estate investmen

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

t team (REIT), mortgage planning options or property management, contact Jennifer Johnson, your trusted real estate investment advisor.

Copyright© 2007 by Jennifer V-E Johnson. Others may not copy this material without written permission of Jennif

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

er V-E Johnson. The views expressed in this RE News are those of the author(s) and do not necessarily reflect the official policy, position, or opinions of RE/MAX. If you are currently working with a Realtor® this is not intended as a solicitation

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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The fear of change is the greatest menace to personal and organizational success. By trying to force change in such circumstances only serves to traumtize further individuals constrained by such a fear. This deepens the resistance to change and therefore is counterproductive to the goal of achieving success. There is a better way. Read on.

Having a debt management plan can help you pay off your debts quickly and save thousands of dollars in interest payments. Consolidating your debts can help you in the management of your debt.

The Consumer Federation of America reports that car buyers are frequently overcharged on auto loans received at the dealership. The overcharge amount varies, but averages 3 percent. This could add as much as $1,000 to the life of your auto loan. To avoid being overcharged, you may want to consider online auto loans.

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