Archive by Author
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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Preparing Your Properties for Winter
Posted on 09. Dec, 2010 by Mary Girsch-Bock.
Depending on where your properties are located, you may find yourself spending weeks preparing them for the cold winter months. Even those in more temperate climates will need to do some basic housekeeping in order to keep maintenance calls in check.
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Cash Versus Accrual Accounting – Which is Right for You?
Posted on 02. Dec, 2010 by Mary Girsch-Bock.
There are distinct differences between cash accounting and accrual accounting methods. When setting up your company for the first time, you’ll have to choose which of these accounting methods you will be using for recording accounting transactions.
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Keeping Properties Safe Over the Holidays
Posted on 11. Nov, 2010 by Mary Girsch-Bock.
We all know that November and December are the busiest months of the year for travel. That means that while your residents are enjoying a Thanksgiving feast or unwrapping presents, their apartment or home will likely be empty.
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Bank Reconciliation Best Practices for Property Management
Posted on 05. Nov, 2010 by Mary Girsch-Bock.
I’ll admit that bank reconciliations are a pet peeve of mine. Not the bank reconciliations themselves, but the number of people who routinely toss them in the ‘to do’ pile, leaving them sit for a month – or three.
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Standing Out In a Crowd of Property Management Companies
Posted on 15. Oct, 2010 by Mary Girsch-Bock.
There are more property management companies operating today than ever before. With the increased competition, it might be time to evaluate what you can do to make your company stand out from the rest.
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Preparing Your Property Management Office for Year’s End
Posted on 07. Oct, 2010 by Mary Girsch-Bock.
Just a few short months ago, you were enjoying the hot summer sun. Suddenly it’s September, which means only one thing; the end of the year is rapidly approaching.
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5 Signs That It is Time To Upgrade Your Property Management Software
Posted on 10. Sep, 2010 by Mary Girsch-Bock.
Property managers ask a lot from their software products. We expect those products to do everything from posting accounting entries for us, to crediting our bank account when we write a check. But what happens when a software product stops doing the things we ask it to do? Just how do you determine when it’s time to upgrade your software?
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Using Excel Instead of Property Management Software Is Risky Business
Posted on 30. Aug, 2010 by Mary Girsch-Bock.
It’s no secret that there are a lot of Excel users in the property management community. An outstanding spreadsheet program, Excel frequently plugs in the gaps commonly found in accounting programs. But there’s a group of property managers that may find themselves relying on Excel a little too much.
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Documentation and Organization Essentials for Property Managers
Posted on 05. Aug, 2010 by Mary Girsch-Bock.
In the last article, I talked about the importance of properly maintaining a trust account for security deposits and rent payments. The following post contains procedures you may want to implement along with things to avoid at all costs.
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Proper Use of Property Management Trust Accounts
Posted on 29. Jul, 2010 by Mary Girsch-Bock.
Misuse of trust accounts is the number one reason why property management companies are audited. That’s why it’s vital that the proper trust fund accounts are established as needed, and used properly. d
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4 Key Things Property Managers Need to Know (But Might Not!)
Posted on 22. Jul, 2010 by Mary Girsch-Bock.
Here are four important things every property manager should know about security deposits, rental/lease agreements, lead-based paint and notice requirements for your state.
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Tips for Residential Property Managers Who Specialize in Single-Family Homes
Posted on 15. Jul, 2010 by Mary Girsch-Bock.
The typical multi-unit property manager usually has a solid system in place for managing their rentals. But what about the management companies who specialize in single family home rentals? How do their needs vary from the multi-unit property manager?
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Resident Application Approval Process: Red Flags
Posted on 29. Jun, 2010 by Mary Girsch-Bock.
In my last article, Resident Application Approval Process: Key Indicators, I discussed areas to look at when reviewing an applicant’s credit history. What follows is a list of potential red flags.
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Resident Application Approval Process: Key Indicators
Posted on 17. Jun, 2010 by Mary Girsch-Bock.
Years ago, approving applicants was a relatively simple process. You checked an applicant’s credit report, perhaps called a former landlord, verified employment, and soon you were taking deposits and setting up a move-in date. Like many other things, the rules have changed.
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Resident Security Deposits – Are You Covered?
Posted on 08. Apr, 2010 by Mary Girsch-Bock.
When Judy moved out of her apartment, the property managers at one of New Mexico’s top management companies were mortified by the extent of damages. The front door was covered in dents, and windows were broken in both the bedroom and the living room. The carpet was covered in cigarette burns and ugly purple stains, and the bathroom tile was curled up and peeling from excessive water damage.
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