Archive by Author
Federal Laws Property Managers Must Be Aware Of – Part I
Posted on 31. Jan, 2012 by Mary Girsch-Bock.
Sometimes it seems as if all property managers spend a majority of their time memorizing various rules and regulations. New employees in particular are always trying to learn basic rules such as “when do we return security deposits, or what account does this deposit go into?”
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The Importance of Property Maintenance, Part 2
Posted on 09. Jan, 2012 by Mary Girsch-Bock.
If you find yourself neglecting the small items, you’ll soon be on the hot seat for more expensive repairs. Building managers can find themselves with a run-down, in-desperate-need-of-repair building a lot sooner that they think.
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Market Fun Holiday Events For Residents
Posted on 16. Dec, 2011 by Mary Girsch-Bock.
While the holidays always make us think about ways to engage residents in the holiday spirit, there are many activities and events that property managers can organize and easily implement that can be used not only during the holiday season, but throughout the year.
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The Importance of Routine Maintenance
Posted on 12. Dec, 2011 by Mary Girsch-Bock.
With marketing activity being ramped up in a tough rental market, property managers are sometimes guilty of neglecting property maintenance. Warning: you do so at your own risk.
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Rent vs. Buy
Posted on 15. Nov, 2011 by Mary Girsch-Bock.
It’s been a tough economy particularly for housing these last few years. Only in recent months have there been any concrete signs of recovery. It’s a buyers market for those looking for housing with record low mortgage rates and record low prices. But for some, renting makes much more sense economically, particularly for the short term, which is generally less than five years. So how do you convince someone that it’s in their best interest to rent?
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Retaining Residents
Posted on 27. Oct, 2011 by Mary Girsch-Bock.
While the number of renters in the market has increased in the last few years, retaining good tenants can still pose a problem for property managers. Maintaining a current tenant is much less expensive than locating, approving, and moving in a new tenant. Of course the nature of renting itself is often transient; many people rent while looking for a home to buy, others only in the community for a short period of time.
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MFR and SFR Property Management
Posted on 12. Oct, 2011 by Mary Girsch-Bock.
While there are many companies that specialize in either multi-family property management or single family home management, some companies are able to do both successfully. If you’re currently making the transition from multi-family to single family home management, or are adding home management to your menu of services, there are a few things you will need to take under consideration:
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Tenant Referral Fees
Posted on 30. Sep, 2011 by Mary Girsch-Bock.
Tenant referral fees can be a great way to increase occupancy rates without spending a lot of money advertising. There are many advantages to instituting a referral program, including the following:
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The Security Deposit and the Lease
Posted on 09. Sep, 2011 by Mary Girsch-Bock.
Making sure your security deposits and your lease detail match can save you time and headaches, both now and in the future.
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Financial Management Plan
Posted on 01. Sep, 2011 by Mary Girsch-Bock.
If you’re actively seeking new clients (and who isn’t) writing a solid management plan can go a long way towards signing that management contract. Multi-unit managers in particular have to show owners that they can do more than simply collect the rent and evict non-paying tenants.
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Safety Tips for Property Managers
Posted on 19. Aug, 2011 by Mary Girsch-Bock.
While property management may not make anyone’s ‘Top 10 Most Dangerous Jobs’ list, the fact is that there are some dangers invoiced with the profession. Many managers think nothing of scheduling appointments with people that they have no information about, leaving a sole employee in the office to handle calls, or arranging late appointments to suit applicants. Rarely does this become an issue, but problems can arise that can prove to be costly, or even deadly, to property managers.
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Eliminate Property Management Time Wasters
Posted on 09. Aug, 2011 by Mary Girsch-Bock.
Streamlining office operations can go a long way toward instituting and utilizing proper time management techniques. Below are a few time-consuming procedures that you may want to consider eliminating in order to create more free time tomorrow. While you’re at it, take a look around your office – most of us all have our own time wasters that need to be eliminated.
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What Property Managers Should Not Cut Back On In a Tough Economy
Posted on 12. Jul, 2011 by Mary Girsch-Bock.
In my previous article, Ways Property Managers Can Survive a Tough Economy, I discussed some areas where property managers can cut back in a tough economy in order to save some money without compromising the quality of their business. Here are some areas that you never want to cut back or skimp.
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Ways Property Managers Can Survive a Tough Economy
Posted on 06. Jul, 2011 by Mary Girsch-Bock.
Although the economy has started to trend upwards (a little), it’s still pretty tough out there. The question property managers may be asking themselves is “Where are easy places I can save a little money?”
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How to Get Your Residents To Pay Rent Online
Posted on 14. Jun, 2011 by Mary Girsch-Bock.
While many property management companies have been offering an online rental payment option to residents for years, there are just as many who currently do not. And the management companies that currently do offer this option have found that only a fraction of their residents actually utilize an online rental payment option.
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Encouraging Residents to Purchase Renters Insurance
Posted on 07. Jun, 2011 by Mary Girsch-Bock.
Whether you’re managing multi-family units or single family homes, as a property manager, a large part of your job is to maintain the condition of the property you are managing. That’s why it’s in your best interest to encourage your residents to purchase renters insurance.
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Choosing the Right Property Management Accounting Software
Posted on 12. May, 2011 by Mary Girsch-Bock.
Has your current property management software program been giving you more problems than solutions? If so, you may be ready to look for new property management accounting software. If you’re not sure what you need, take these suggestions under consideration.
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Property Management Certificate Programs
Posted on 04. May, 2011 by Mary Girsch-Bock.
There are a variety of property management certifications available. Becoming certified allows property managers to build on their experience and offers both tenants and potential employers the knowledge that the person in charge has both the knowledge and experience necessary to be successful.
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Screening Tenants Consistently for Fair Housing
Posted on 05. Apr, 2011 by Mary Girsch-Bock.
Under Title VIII of the Civil Rights Act of 1968, commonly known as the Fair Housing Act, it is illegal for landlords to refuse to rent or sell a dwelling based on an applicant’s race, color, national origin, religion, sex, familial status, or disability. Does your management company base their applicant approvals on documented evidence of an applicant’s ability to pay or not pay?
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What’s The Most Important Resident Screening Criteria?
Posted on 15. Mar, 2011 by Mary Girsch-Bock.
When it comes to screening applicants, each property manager has their own set of criteria that potential residents must live up to. Establishing a consistent screening process when renting an apartment or a house drastically reduces the threat of discrimination lawsuits.
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Getting Up To Speed With Fair Housing Laws
Posted on 21. Feb, 2011 by Mary Girsch-Bock.
Are you up to date on the Fair Housing Laws? Both federal and state anti-discrimination laws need to be adhered to on a regular basis in order to prevent potential lawsuits from crippling your property management company.
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5 Rules for Avoiding Craigslist Scams
Posted on 28. Jan, 2011 by Mary Girsch-Bock.
Craigslist has become an indispensable resource for just about anything. One of their most popular sections is Apts/Housing, which covers everything from monthly move-in specials to single family home rentals. However, the single family homes category is ripe with scammers looking to rip potential renters off.
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Property Management 1099 Cheat Sheet
Posted on 12. Jan, 2011 by Mary Girsch-Bock.
Even though the IRS has a thorough set of instructions available for 1099 processing, many people still find themselves unsure of who should receive a 1099, what the minimum amount is or when they need to mail the 1099’s by. So, I’ve made a list of suggestions that you can use as a cheat sheet, or as a refresher of the basic rules you should know to make property management 1099 processing quick and painless.
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5 New Year’s Resolutions for 2011
Posted on 28. Dec, 2010 by Mary Girsch-Bock.
No matter how cynical you are the New Year always represents an opportunity to begin anew. Here is a list of five resolutions that all property managers should make that will bring rewards throughout 2011.
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