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Don’t Be Like Seaworld

Don’t Be Like Seaworld

Posted on 30. Nov, 2011 by .

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On a recent family vacation, we went to Seaworld (you probably guessed that by the title of this blog post). After paying the fairly hefty entry fee, we headed straight to the dolphins because they are my girl’s favorite at Seaworld.

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How to Select a Property Manager

How to Select a Property Manager

Posted on 21. Nov, 2011 by .

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A recent set of circumstances helped me to realize that property managers might want to know how owners and investors go about selecting a manager for their property.

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Rent vs. Buy

Rent vs. Buy

Posted on 15. Nov, 2011 by .

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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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College Prep: Sustainable Off-Campus Living

College Prep: Sustainable Off-Campus Living

Posted on 10. Nov, 2011 by .

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College and university campuses are increasingly defining sustainable practices for their campus communities. This is, in turn, raising the bar for students’ off-campus expectations.

If your property is near enough to a campus to provide housing to students or staff, take a moment to assess any green attributes that could be leveraged to attract eco-conscious tenants. If you discover your property doesn’t have much to boast about, let this exercise be an incentive to you to explore adding a few green assets to your property.

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Winterizing Your Property

Winterizing Your Property

Posted on 07. Nov, 2011 by .

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Frozen pipes. Drafty rooms. Broken tree limbs. Ice dams. These are just a few of the potential joys winter offers to the unsuspecting property owner — in addition to, of course, regularly shoveling and de-icing sidewalks and driveways.

Here are a few things to put on your list for winterizing a property so you stay curled up on the sofa with a cup of hot cocoa instead of trudging out into the cold to fix something at your rental property.

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Renting vs. Owning: The Rent Ratio

Renting vs. Owning: The Rent Ratio

Posted on 03. Nov, 2011 by .

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The buy-versus-rent question is particularly relevant right now as we see home prices continuing to decline and interest rates on new mortgages also going down to the lowest levels in 60 years. Back in April of 2010 The New York Times did an impressive job of explaining the ratio that helps define whether it is economically more sensible for residents to buy or rent their housing.

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Retaining Residents

Retaining Residents

Posted on 27. Oct, 2011 by .

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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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Grow Your Property Management Business with New Investors

Grow Your Property Management Business with New Investors

Posted on 20. Oct, 2011 by .

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These are the “better times”, when interest rates are their historical lowest and the number of people needing rental housing is growing exponentially with each passing year. As one publication stated it, “However, in real estate, the right time, the most advantageous time, is always the present.”

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MFR and SFR Property Management

MFR and SFR Property Management

Posted on 12. Oct, 2011 by .

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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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Let Your Owners Know You’re a Source for Real Estate News

Let Your Owners Know You’re a Source for Real Estate News

Posted on 03. Oct, 2011 by .

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Give owners some ideas on how they can take advantage of today’s real estate and financial trends. Impress them with your creativity and business acumen.

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Tenant Referral Fees

Tenant Referral Fees

Posted on 30. Sep, 2011 by .

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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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4 Easy Ways to Attract More Applicants for Your Vacant Rentals

4 Easy Ways to Attract More Applicants for Your Vacant Rentals

Posted on 28. Sep, 2011 by .

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Let’s look at 4 simple ideas that will motivate and facilitate the rental application process so you can draw a larger number of applicants like metal shavings to a powerful magnet.

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Protecting Your Brand Online

Protecting Your Brand Online

Posted on 21. Sep, 2011 by .

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Do your employees understand your company expectations for online behavior? Do you require your employees to sign a social media policy?

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Rental Applications: Knowing the Rules and Requirements

Rental Applications: Knowing the Rules and Requirements

Posted on 16. Sep, 2011 by .

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As property managers, we confront the ever-changing process of attracting and qualifying new residents to fill vacancies. With the legal landscape also changing, it’s increasingly important to understand the laws governing rental applications in the state where we manage our rental properties.

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The Security Deposit and the Lease

The Security Deposit and the Lease

Posted on 09. Sep, 2011 by .

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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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Protect and Grow Your Owner-Client Relationships

Protect and Grow Your Owner-Client Relationships

Posted on 07. Sep, 2011 by .

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Little things mean a lot in the property management business. Maintaining a strong rapport with your owner-clients derives from focusing on those “little things” and attending to the details that forge lasting loyalty and satisfied clients.

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Financial Management Plan

Financial Management Plan

Posted on 01. Sep, 2011 by .

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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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Bulldozer-Style Foreclosures and Their Hidden Potential

Bulldozer-Style Foreclosures and Their Hidden Potential

Posted on 29. Aug, 2011 by .

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There are many ways for a lending institution to handle a foreclosure, and there are apparently many ways to deal with the foreclosed property after they have it in their possession. There are close to 1.7 million houses in the U.S. in some stage of foreclosure. Banks already own a large number of these houses and will soon repossess many more. Housing economists worry that a near constant stream of home sales by banks could keep housing prices down for years to come. But what if some of those homes virtually “disappeared” and weren’t sold?

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Benefits of a Mandatory Renters Insurance Program

Benefits of a Mandatory Renters Insurance Program

Posted on 25. Aug, 2011 by .

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Renters Insurance by definition is the combination of Liability and Content Coverage. In most markets, an owner can only require a resident to carry Liability coverage which essentially covers damage to the asset. Annual premiums are typically less than $9-$10 a month to the Resident. When partnering with a Preferred Provider, residents will be “pre-approved” and can obtain coverage quickly and easily. Residents have the options to add content coverage to protect their personal belongings in the event of such things such as theft, fire, flood, etc.

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Judgment Debtor Exams and the “Secret Lien”

Judgment Debtor Exams and the “Secret Lien”

Posted on 23. Aug, 2011 by .

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If you were successful in obtaining a judgment against a former tenant or other third party, chances are you will not be paid voluntarily. Sometimes obtaining the judgment may prove much easier than collecting it. This article will discuss judgment debtor examinations and the “secret lien” which are little known tools that can lead to success in the collection effort.

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Safety Tips for Property Managers

Safety Tips for Property Managers

Posted on 19. Aug, 2011 by .

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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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Maintenance Manners Matter

Maintenance Manners Matter

Posted on 16. Aug, 2011 by .

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Have you ever had your maintenance team members trained on the maintenance of the residents at your property? While it is critically important that your staff be able to correctly repair items like dishwashers, stoves and disposals, it’s also essential that they be able to repair and maintain relationships with your residents.

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Rental Income with a “Home Away from Home” Approach

Rental Income with a “Home Away from Home” Approach

Posted on 12. Aug, 2011 by .

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There are many ways to help owners expand their base of income and to separate yourself as a property manager that’s going above and beyond to help your clients succeed.

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Eliminate Property Management Time Wasters

Eliminate Property Management Time Wasters

Posted on 09. Aug, 2011 by .

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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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