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Property Management Turning Challenges into Opportunities

Property Management Turning Challenges into Opportunities

Posted on 12. May, 2015 by .

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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” […]

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Property Managers Need to Save for Retirement

Property Managers Need to Save for Retirement

Posted on 05. May, 2015 by .

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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 […]

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The Many Benefits of a Nationwide Property Management Association

The Many Benefits of a Nationwide Property Management Association

Posted on 21. Apr, 2015 by .

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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 […]

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Property Management of Section 8 and Housing Choice Voucher Programs

Property Management of Section 8 and Housing Choice Voucher Programs

Posted on 13. Apr, 2015 by .

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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 […]

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Power-Up Your Property Management Skills

Power-Up Your Property Management Skills

Posted on 31. Mar, 2015 by .

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“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 […]

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Property Managers Flourish as Housing Supply Sinks

Property Managers Flourish as Housing Supply Sinks

Posted on 24. Mar, 2015 by .

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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 […]

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Give Distressed Property Owners a Government-Backed Solution

Give Distressed Property Owners a Government-Backed Solution

Posted on 12. Mar, 2015 by .

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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 […]

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Property Managers Can Grow By Acquiring Their Competition

Property Managers Can Grow By Acquiring Their Competition

Posted on 03. Mar, 2015 by .

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Often in my articles I’ll comment on smart ways for property management companies to grow their existing businesses. Organic growth is the primary approach but not the only one. Another hot topic for property managers is how to stay one step ahead of the competition. With the assistance of the latest technologies you can save […]

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Prudent Property Managers Prepare for Flood of New Renters

Prudent Property Managers Prepare for Flood of New Renters

Posted on 24. Feb, 2015 by .

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There’s an explosion of new renters in all major cities in the U.S. Yes, even in lower-density, relatively inexpensive cities like Dallas and Houston, a significant shift in the proportion of renters is unfolding. It appears the big rise in the number of renters is a delayed result of the housing bust which followed the […]

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Work an Extra Hour on Weekends to Become Your Personal Best

Work an Extra Hour on Weekends to Become Your Personal Best

Posted on 10. Feb, 2015 by .

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Do you want to make a mighty, personal breakthrough in the year ahead? Are you willing to invest a little extra time for the opportunity to be your personal best? My colleague Craig Ballantyne who publishes Early to Rise recently knocked the ball out of the park with an article that targets one of the […]

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More Inexpensive Ways Property Managers Attract Good Residents

More Inexpensive Ways Property Managers Attract Good Residents

Posted on 27. Jan, 2015 by .

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In the world of investing there’s an old adage: “Money goes where it’s treated best”.  The same could be said for the best residents. As the world of rental properties become more competitive a new adage is “Good residents move to where they are treated best”. A “good resident” is one that has an outstanding […]

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Property Managers Find Small Cities a Gold Mine of Renters

Property Managers Find Small Cities a Gold Mine of Renters

Posted on 22. Jan, 2015 by .

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Large metropolitan areas aren’t the only places where rental activity increased in 2014. In fact rents went up more as a percentage in smaller cities than in the large metropolitan areas. In 2014 the cost to rent an apartment moved higher for the fifth consecutive year. Much stronger demand coupled with dwindling supply meant vacancies […]

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Property Managers Face Housing Slowdown as 2015 Begins

Property Managers Face Housing Slowdown as 2015 Begins

Posted on 08. Jan, 2015 by .

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The year 2014 ended with the U.S. housing market appearing on the verge of a downturn. Sales of new homes in November slipped almost 2% from the previous year according to the Commerce Department. Existing homes sales for November also were down 6.1%. A more disturbing trend came from a survey of U.S. home builders […]

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Property Management’s Golden Rules

Property Management’s Golden Rules

Posted on 18. Dec, 2014 by .

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The term “golden rules” is actually an introduction to the most important rules property managers must adhere to. This article should be considered a primer which you can build upon. As my readers know I want property managers to be “remarkable”. One big way to achieve this is to know so much about your responsibilities that […]

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Simple Ways to Fill Vacancies Quickly, Carefully, Intelligently

Simple Ways to Fill Vacancies Quickly, Carefully, Intelligently

Posted on 16. Dec, 2014 by .

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Vacancies can come up at the most unexpected times. The end of a year, even though it’s a holiday season, is no exception. Neither are the early months of winter when fewer moves occur. That’s why property managers need multiple ways to attract new residents that work all year round. It’s also effective to have […]

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Housing Data Confirms Contradictions, Favors Rentals

Housing Data Confirms Contradictions, Favors Rentals

Posted on 27. Nov, 2014 by .

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As property managers we want to keep up on the trends in our local economies. “The trend is our friend” is a mantra that enlivens our professional awareness. The final quarter of 2014 has uncovered some important national trends as well. Building permits, an important signal of future construction, increased by 4.8% in October to […]

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An Opportune Time of Year for Property Managers to Shine

An Opportune Time of Year for Property Managers to Shine

Posted on 25. Nov, 2014 by .

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Like the words of a well known seasonal song, “It’s the most wonderful time of the year”.  From Thanksgiving through New Year’s Day most people are in celebration mode. Strangely it’s also one of the most stressful times of the year. The holiday pressures of family reunions, buying gifts, planning get-togethers, or being alone while […]

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Keeping Your Properties Safe during the Holidays

Keeping Your Properties Safe during the Holidays

Posted on 20. Nov, 2014 by .

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The holiday season is rapidly approaching.  Along with family get-togethers, decorations, and presents, the holiday season poses a unique set of risks for property managers, including everything from apartment fires to a higher risk of property theft. While it will never be possible to prevent all adverse events, there are many precautions both you and […]

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First Time Home Buyers are not Buying

First Time Home Buyers are not Buying

Posted on 11. Nov, 2014 by .

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If it’s such a great time to buy a house why are young Americans opting to rent rather than a buy a house? Is it because of low inventory in their price range, tight credit, difficulty qualifying, or all of the above? First-time home buyers aren’t clueless. They’ve done the math on how much house […]

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Property Managers, Here’s How to Increase Your Income

Property Managers, Here’s How to Increase Your Income

Posted on 28. Oct, 2014 by .

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Like the line from the infamous movie Jerry Maguire, property managers work hard to be able to say “Show me the money!” It doesn’t matter if you’re a Tom Cruise fan for these words to resonate. When I consult with property managers about growing their income I begin with the question, “Have you discussed this […]

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Do Green Property Managers Attract More Considerate Residents?

Do Green Property Managers Attract More Considerate Residents?

Posted on 16. Oct, 2014 by .

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Just because it may not be as “cool” today to take your property management business in a “green” direction doesn’t mean it’s not rewarding. Besides the personal satisfaction there are advantages. As part of its Healthy Homes Program, the federal government’s Department of Housing and Urban Development (HUD) launched in 1999 its Healthy Homes Initiative […]

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Renters May Temporarily Turn into Buyers as Incentives Arise

Renters May Temporarily Turn into Buyers as Incentives Arise

Posted on 09. Oct, 2014 by .

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It may feel like 2006 all over again when it comes to the housing market.  Gimmicks and giveaways are creeping into the market because homes aren’t selling like builders had hoped. Back in 2006, just before the crash of 2008, no-document mortgages greased the way to the top of that housing bubble. Today it’s freebies […]

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Residential Housing for Renters Expands as Property Managers Wonder

Residential Housing for Renters Expands as Property Managers Wonder

Posted on 07. Oct, 2014 by .

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The number of multi-family rental housing complexes being built around the nation keeps on growing month after month. The implications for the property management business are somewhat ambiguous. No doubt there’s been a steady decline in the number of homeowners since the financial crisis of 2008. This has translated to a substantial increase of renters […]

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Four Low Cost Ways to Improve the Properties You Manage

Four Low Cost Ways to Improve the Properties You Manage

Posted on 01. Oct, 2014 by .

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Residents are on the prowl again looking for the most attractive rental units for their money. At the same time there is a growing group of former homeowners who are back in the rental market. The monthly rent these groups are willing to pay will partially depend on the condition of the rental properties. If […]

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