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Posted on 17. Jul, 2014 by Marc Courtenay.
On Tuesday July 15 Fed Chair Janet Yellen said more than Congress and most managers were anticipating. Her carefully prepared comments are a big insight into how those who control America’s monetary policies are thinking. According to a report by USA Today Federal Reserve Chair Janet Yellen told Congress the economy is improving but still […]
Posted on 15. Jul, 2014 by Marc Courtenay.
Property managers work hard for their money. Everybody talks about increases in the cost-of-living and rents rising, but how about the people who make rentals available? Yes, I’m referring to your clients the owners, and you, the liaisons between the residents and the “landlords”. When’s the last time your clients called and said, “You deserve […]
Posted on 08. Jul, 2014 by Marc Courtenay.
Too many property managers aren’t aware of the free tools offered by a familiar online company. You’ve heard of Yelp, but did you know that 132 million people use it monthly for buying decisions? The most recent data suggests there are over 57 million reviews on Yelp. More importantly 82% of Yelp users go there […]
Posted on 20. Jun, 2014 by Marc Courtenay.
One of the challenges in the management of rental properties involves collecting from residents behind on rent payment. Knowing the laws which govern the methods used for collection is a vital first step. We can debate how far we’d push the envelope to make sure the rent is collected, but the key to avoiding legal […]
Posted on 19. Jun, 2014 by Marc Courtenay.
Whether you’re following your passion or just trying to be successful at what you do for a living, it always counts to be in that esteemed group we call “outstanding”. There is more research surfacing that gives practical guidance on the characteristics of those who flourish and those who flounder. It’s not just motivation that […]
Posted on 13. Jun, 2014 by Marc Courtenay.
The responses to my last article on filling vacancies fielded excellent suggestions from property managers. This kind of feedback offers ideas that are working now! Of course the ideas I shared in my series “50 Ways to Fill Your Vacancies” work well in today’s market. Yet those from our readers are personal favorites, innovative and […]
Posted on 03. Jun, 2014 by Marc Courtenay.
Other than filling vacancies, there are few topics more important for Property Managers than how to make sure your residents pay their rent on time and securely. From a behavioral vantage point, there are several effective ways to empower residents to pay their rent or lease payment on time, month after month. Here are three […]
Posted on 20. May, 2014 by Marc Courtenay.
On Friday May 16 the economic numbers turned Goldilocks-style “not to cold and not too hot”, and property managers need to be on top of these developments. First of all, the interest rate on the benchmark 10-year U.S. Treasury bond dropped to 2.5% from 2.7% in just one week’s time. That’s a 7.4% plunge, and […]
Posted on 13. May, 2014 by Marc Courtenay.
The most recent housing market index is beginning to show some cracks in the mortar. Confidence in the home building sector has deteriorated lately, according to the results of an industry survey released on Tuesday Feb. 18th. The National Association of Home Builders (NAHB) said its housing market index (HMI) slipped to 46 in February […]
Posted on 15. Apr, 2014 by Marc Courtenay.
With a title like this you may think I’m about to encourage you get a bodyguard or a permit-to-carry. While neither of those ideas are bad ones, I’m talking about reviewing your personal and business insurance. I’m also encouraging you to know your legal liabilities and your rights. Concerning insurance, this is a good time […]
Posted on 08. Apr, 2014 by Marc Courtenay.
Don’t let what happened to a property management company in Las Vegas, Nevada happen to you. The company had set up a convenient lock box so residents could drop off their checks after hours. The worst case scenario unfolded on a hot summer’s evening in July when thieves who had noticed the drop box of […]
Posted on 01. Apr, 2014 by Marc Courtenay.
Here are three ideas from my upcoming article series titled “50 Ways to Fill Your Vacancies”. Like you, I’m fired up about the idea of having as many marketing tools as possible to manage properties effectively. As a property owner and/or manager, you may already have many successful ways to quickly fill your vacancies with […]
Posted on 25. Mar, 2014 by Marc Courtenay.
As your business evolves and grows your role as a property manager needs to be crystal clear to you, your clients and the residents you serve. Notice I listed “you” first. If you don’t fully grasp all the various roles that you’re playing in your business, how you prioritize your time and what is falling […]
Posted on 27. Feb, 2014 by Marc Courtenay.
As 2014 begins a bureau created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, The Consumer Financial Protection Bureau (CFPB), will set new rules concerning mortgages. Lenders will be required to verify and inspect borrowers’ financial records. The rules discourage lenders from allowing borrowers to carry total debt payments totaling more than 43 percent of the person’s annual income.
Posted on 17. Feb, 2014 by Marc Courtenay.
Housing affordability isn’t looking too promising as 2014 begins. If you listen to the National Association of Realtors the opportunity to be a homeowner hasn’t been this affordable in a long time. If you review Figure 2 below you’ll get the impression that American housing is now extremely affordable and the typical household can easily make the monthly mortgage payment on a home. Thanks to historically low interest-rates, fixed rate mortgages have become more affordable for some American families and many analysts expect that this cheap credit will fuel another housing boom.
Posted on 17. Jan, 2014 by Marc Courtenay.
The year 2013 will go down in the record books as a good year for both owners and managers of residential income properties. As I wrote recently in an article titled, It’s Tough to Afford to be a Renter These Days, “Housing affordability doesn’t look too promising as 2014 begins. If you listen to the National Association of Realtors the opportunity to be a homeowner hasn’t been this affordable in a long time.” If you’re looking to sell a home, 2014 may be a good year though probably not as good as 2013. But if you’re looking to buy, 2014 will likely be a better year than 2013.
Posted on 16. Dec, 2013 by Marc Courtenay.
Has the housing market begun to plummet due to rising interest rates? Are rental housing values about to crash? Those who read my articles know I’m frequently asking the questions that rental property owners and managers should also be asking. The answers are vitally important during these uncertain economic times. As of November 27, 2013 the yield on the 10 year Treasury bond sits at 2.74%. This is the benchmark interest rate impacting home mortgage rates, and it’s been stuck around this level for months.
Posted on 18. Nov, 2013 by Marc Courtenay.
If you’re a potential buyer or a former owner, you’re darned if you try to own and darned if you’re currently an owner. Unless you own a rental home or a multi-family residential income property, the days of buying a house and expecting the price to automatically rise with demand aren’t here yet.
Posted on 07. Nov, 2013 by Marc Courtenay.
One of the most frequent complaints I here from property owners who don’t live in the same area as their properties is how hard it is for them to find a trustworthy, dependable property manager. “Why is so difficult?” I usually reply. The owners often answer that it’s been there experience that when the property management firm knows you’re not local (and especially if they’re from out-of-state) they don’t give them the same level of service.
Posted on 10. Oct, 2013 by Marc Courtenay.
As I’ve anticipated for weeks the Federal Reserve said on September 18th that it would continue buying bonds at an $85 billion monthly pace for the time being. The Fed is concerned that a sharp rise in borrowing costs in recent months could hurt the housing market as well as the rest of the economy.
Posted on 23. Sep, 2013 by Marc Courtenay.
Are you ready for a shocking statistic? The latest psychological data and anecdotal evidence is that a large percentage (some studies show it’s over 50%) of the general public in the U.S. is willing to tell lies. Sometimes people call them “white lies”, others rationalize them as “half truths”, but a lie is a lie. Depending on which organization or school of psychology I’ve contacted, I’ve learned that somewhere between 10 and 15% of the population in America are classified as sociopaths.
Posted on 30. Jul, 2013 by Marc Courtenay.
Recently I was perusing one of the online realtor association sites. There was a page lamenting that homes above a particular low price range weren’t selling. Alarming titles like “Shock Treatment May Dial in Price Reductions” suggest that home prices are often priced too high when put on the market. Is the next phase of the housing recovery lower prices? Perhaps so, depending on the area of the country and the number of foreclosed homes that are entering the supply of houses for sale.
Posted on 23. Jul, 2013 by Marc Courtenay.
First let me encourage you to listen to the free online webinar on a topic for property managers. Online rental expert Pierre Calzadilla (Manager of Trulia Rentals) provides practical tips about the effective approach to filling vacancies that you can apply to your business right away. Pierre covered the following: The top trends driving today’s […]
Posted on 17. Jul, 2013 by Marc Courtenay.
First impression matter as much as ever! Curb appeal still can make a big difference when it comes to attracting quality residents. Don’t believe me? Do what I did and interview rental shoppers. Location and the area of town is one of the “Big 3 Criteria” for prospective residents. Affordability was also one of the 3 biggies. Then I asked prospects, “How important are the exterior looks of the rental property?”