Archive by Author
Posted on 01. Dec, 2015 by Marc Courtenay.
As more single-family subdivisions are built and more apartment complexes convert to condominiums, many form Home Owner Associations (HOA). These are opportunities for good property management! Many an HOA would prefer not to deal directly with the myriad issues of coping with the needs of owners and their renter-residents. Enforcement of the Covenants, Conditions and […]
Posted on 24. Nov, 2015 by Marc Courtenay.
The following is my open letter to the property managers and readers of my articles. It is intended to make a meaningful, positive difference in your professional and personal lives. Dear Property Managers and Other Readers, This is the time of year that motivates me to thank you for being a part of our extended […]
Posted on 17. Nov, 2015 by Marc Courtenay.
All of us in the business of property management wish there were more hours in the day to complete our work. Yet as the old saying goes “Time waits for no one…” and few have time to waste. Yes, more time is often what we want most, observed William Penn, “…but what we use worst.” By […]
Posted on 05. Nov, 2015 by Marc Courtenay.
When I first spoke with Marshall Saunders, a 30-year veteran in the Midwest real estate market who owned and ran the largest RE/MAX office in the world, I knew he’d be an effective advocate. It wasn’t even because he now owns a leading midwestern real estate investment platform, SaundersDailey, which led me to believe he […]
Posted on 29. Oct, 2015 by Marc Courtenay.
Whether it’s the last quarter of your business year or the first, knowing some secrets that help you to increase your business’ results can really pay off. Let’s begin with a powerful starting point. Napoleon Hill, the author of one of my favorite books on success (“Think and Grow Rich”) made this observation: “The starting […]
Posted on 06. Oct, 2015 by Marc Courtenay.
Good news is worth celebrating, and there’s good news for the property management business: A huge increase in residential rental real estate will soon need your services. As I’ve reported numerous times during the past two years, more and more homes are being purchased for conversion to single-family rentals (SFR). Since the crash of 2008-2009 […]
Posted on 22. Sep, 2015 by Marc Courtenay.
Knowledge is power, especially in the field of property management. Behind the scenes insights about the direction of interest rates, the national economy and housing values can make a lucrative difference. Recent news that home prices relative to personal income are soaring again is a good example. When the price of buying a condo or […]
Posted on 15. Sep, 2015 by Marc Courtenay.
While vacancy rates are low many property managers are focusing attention on effective ways to retain good residents and proactively please their clients. Saving money is one of the most popular ways. The cost of energy to heat and cool buildings is rising once again. With seasonal variations and the extreme temperature changes many are facing, […]
Posted on 25. Aug, 2015 by Marc Courtenay.
In today’s housing market there are some unmistakable trends that I’ve commented on in recent articles. The number of owner-occupied dwellings is dropping while rental vacancies are vanishing. Put another way, recent data from varying sources—including the Census Bureau—verifies that vacancy rates have fallen to a 30-year low. Residents are finding fewer choices available to rent than […]
Posted on 18. Aug, 2015 by Marc Courtenay.
There is nothing fun about the eviction process. However, when a resident stops paying rent or becomes a problem tenant, appropriate action must be taken. But property managers can turn this frustrating process into a growth opportunity to find new owners. You might also discover potential clients that are ready to sell their “headache” properties. Turn the stress of […]
Posted on 07. Aug, 2015 by Marc Courtenay.
Recent reports of a robust recovery in the construction and sales of single-family homes are eclipsed by stories of a boom in higher-density, multifamily complexes. Even publicly traded homebuilders are seeing their share prices soar to heights last seen well before the Crash of 2008. D.R. Horton (DHI), the largest publicly-traded homebuilding company recently reported […]
Posted on 28. Jul, 2015 by Marc Courtenay.
Just when we thought housing prices may cool down, a new sign of a housing “bubble” has emerged. This combined with a June surge in U.S. home construction has property managers paying attention. Other bubbles that directly relate to the property management business include rental rates, which moved 3% higher in June on a year-over-year […]
Posted on 21. Jul, 2015 by Marc Courtenay.
It’s been one year since my article urging property managers to “Get Yelp for Your Property Management Business.” Hopefully you heeded my suggestions and are reaping good results, because when used effectively and consistently, Yelp brings attention to any business that is customer-centric. If your marketing and management efforts are successful, the world will know […]
Posted on 08. Jul, 2015 by Marc Courtenay.
Often in life, it’s not only what you know but who you know that can make all the difference. Knowledge is powerful, but relationships are the bedrock of the property management business. It all begins with the people we work with, the folks we depend upon, and the personnel that help keep the wheels of progress […]
Posted on 23. Jun, 2015 by Marc Courtenay.
As we go about our routine responsibilities of serving our owner-clients we often find good deals on residential income properties. That’s true today in smaller markets filled with plentiful opportunities. Bigger cities are the primary markets many investors are focusing on to increase their holdings of income housing. That’s why some of the smaller, out-of-the-spotlight […]
Posted on 18. Jun, 2015 by Marc Courtenay.
Nearly 7 years after the financial crisis of 2008, a time when mortgages seemed available to almost any American, the “American Dream” of owning a home continues to fade. The “old” dream was to save enough money for a down payment on a home that you could own or partly own by qualifying for a […]
Posted on 02. Jun, 2015 by Marc Courtenay.
The list of quandaries property managers and landlords face when dealing with difficult residents is long. The good news is that solutions exist and having them can make all the difference in the world. Property managers and landlords need to know their rights, the laws of the state they live in, as should residents. When […]
Posted on 12. May, 2015 by Marc Courtenay.
As the property management business continues to evolve in this ever-changing world there will always be challenges. “Challenges” are what successful managers call problems and crises. Inherent in every challenge is a solution. Hidden in the emotional mire of a crisis are a number of easily overlooked opportunities. Are you adroit at turning these “lemons” […]
Posted on 05. May, 2015 by Marc Courtenay.
Congratulations, you have a secure job where the need for what you do keeps on growing. If you love your work as well you’re especially fortunate. Many people aren’t so lucky. The U.S. Department of Labor on April 30 that initial jobless claims for the week ending April 25 fell by 34,000 to 262,000, below […]
Posted on 21. Apr, 2015 by Marc Courtenay.
Vacancies are filling faster than ever. Rents are slowly rising in many areas of the country. Property managers are busier because many former home owners are choosing to be renters. So why would property managers consider joining an association of their peers? Is it really worth the effort, money and time? According to The National […]
Posted on 13. Apr, 2015 by Marc Courtenay.
If you’re looking for residents who have incentives to pay their rent on time each month look no further. Those who qualify for federally sponsored housing assistance programs backed by the only organization that can legally print money…the federal government…awaits you! The oldest program has been around nearly 80 years! Section 8 of the Housing […]
Posted on 31. Mar, 2015 by Marc Courtenay.
“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius…and a lot of courage to move in the opposite direction.” – E.F. Schumacher This is the time of year that all states except Arizona “spring forward” into Daylight Savings Time. It’s an auspicious time to sharpen your business […]
Posted on 24. Mar, 2015 by Marc Courtenay.
Conditions keep improving for the property management business across the U.S. That’s partly due to the slumping supply of houses for sale which has been waning since the final quarter of 2014. The reasons for the sparse number of homes for sale vary according to regions. Most areas are benefitting from lower mortgage rates allowing […]
Posted on 12. Mar, 2015 by Marc Courtenay.
Opportunity is often disguised in distressful situations. Property managers know that all too well. Many have shared with me how they turned “lemons” into “lemonade” by their careful vigilance. Recently The Federal Housing Finance Agency (FHFA) announced new requirements for sales of non-performing loans (NPLs) by Freddie Mac and Fannie Mae (the Enterprises). This involves […]