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Posted on 24. Feb, 2015 by Marc Courtenay.
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 […]
Posted on 10. Feb, 2015 by Marc Courtenay.
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 […]
Posted on 27. Jan, 2015 by Marc Courtenay.
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 […]
Posted on 22. Jan, 2015 by Marc Courtenay.
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 […]
Posted on 08. Jan, 2015 by Marc Courtenay.
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 […]
Posted on 18. Dec, 2014 by Marc Courtenay.
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 […]
Posted on 16. Dec, 2014 by Marc Courtenay.
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 […]
Posted on 27. Nov, 2014 by Marc Courtenay.
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 […]
Posted on 25. Nov, 2014 by Marc Courtenay.
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 […]
Posted on 20. Nov, 2014 by Marc Courtenay.
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 […]
Posted on 11. Nov, 2014 by Marc Courtenay.
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 […]
Posted on 28. Oct, 2014 by Marc Courtenay.
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 […]
Posted on 16. Oct, 2014 by Marc Courtenay.
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 […]
Posted on 09. Oct, 2014 by Marc Courtenay.
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 […]
Posted on 07. Oct, 2014 by Marc Courtenay.
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 […]
Posted on 01. Oct, 2014 by Marc Courtenay.
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 […]
Posted on 19. Sep, 2014 by Marc Courtenay.
Marketing tools to turn vacancies into occupancies are worth a fortune. Like the technologies offered by Appfolio, there are many common sense methods to focus on your area’s target market. Each one of the following suggestions is not only intended to help you zoom in on new ways to attract a stream of potential tenants. […]
Posted on 03. Sep, 2014 by Marc Courtenay.
As the summer season slides to a close it’s good to remember that our work should be enjoyable. If our demanding profession begins to wear us down it’s probably time to do something about it. Recently I touched basis with a colleague who’s been in the property management business for over 40 years. I won’t […]
Posted on 28. Aug, 2014 by Marc Courtenay.
The U.S. economy has come a long way from the frightening fiscal collapse that happened at the end of the Bush administration in 2008. The Obama administration inherited the worst economic crisis since the Great Depression. The Federal Reserve has been managing America’s monetary policies since 1913. Once former Fed Chairman Ben Bernanke saw the […]
Posted on 19. Aug, 2014 by Marc Courtenay.
Don’t let the lazy, crazy, hazy days of summer lull your property management business to sleep. Wake it up with timely communiqués that you send to your clients and potential clients. For example, why not ignite their imaginations with information about equity-based crowd-funding that specializes in real estate investment opportunities. I recently interviewed the co-founder […]
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 […]