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Property Values Still Plunging, Great Opportunity for Property Managers

Property Values Still Plunging, Great Opportunity for Property Managers

Posted on 02. Feb, 2011 by .

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Back in November 1997 I purchased a 3 bedroom condo in Santa Barbara, California for around $265,000. Less than 6 years later I sold it for $749,000. Now I’ve learned that in many areas around the country it’s 1997 all over again.

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5 Rules for Avoiding Craigslist Scams

5 Rules for Avoiding Craigslist Scams

Posted on 28. Jan, 2011 by .

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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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Distinguish Your Business by Accentuating the Positive, Eliminating the Negative

Distinguish Your Business by Accentuating the Positive, Eliminating the Negative

Posted on 25. Jan, 2011 by .

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In these challenging times there is one question all property managers should be asking themselves; “Why would my clients and residents prefer me and the properties I’m managing?” Recently I asked a successful, long-time property manager the simple question, “What keeps your owners happy?” It was another way of asking the question in paragraph one.

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5 Tips To Promoting Community Events On Facebook

5 Tips To Promoting Community Events On Facebook

Posted on 20. Jan, 2011 by .

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Whether it’s an open house or a pool party, your apartment community should be sharing events on Facebook. As the largest social network, the average Facebook user is connected to 80 community pages, groups and events. Facebook is a good place for property managers to share events with their residents and prospects.

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6 Topics for Your Property Management Blog

6 Topics for Your Property Management Blog

Posted on 18. Jan, 2011 by .

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We all know how happy great, new content makes Google. If you can find 30 minutes each week to write 1 or 2 articles for your property management blog you will definitely start to see more traffic coming to your website.

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Property Management 1099 Cheat Sheet

Property Management 1099 Cheat Sheet

Posted on 12. Jan, 2011 by .

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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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Don’t Let the Bed Bugs Bite — Dealing with Infestations Naturally

Don’t Let the Bed Bugs Bite — Dealing with Infestations Naturally

Posted on 07. Jan, 2011 by .

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Recently I had an interview with a prominent West Coast property manager. We were discussing some of the most recent “challenges” facing property managers. The conversation quickly shifted toward bed bugs and pest control. More and more residents and managers are trying to find healthy alternatives to toxic pesticides when attempting to eradicate the ever-resilient bedbug.

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5 New Year’s Resolutions for 2011

5 New Year’s Resolutions for 2011

Posted on 28. Dec, 2010 by .

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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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If Rent Rates Rise Will More Renters Buy Houses?

If Rent Rates Rise Will More Renters Buy Houses?

Posted on 22. Dec, 2010 by .

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In some areas and regions in the U.S. rental rates are actually increasing along with demand. “As rents rise and the cost of home ownership declines, owning is becoming more attractive,” notes California real estate analyst John Burns in a recent CNBC report.

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Big Goals Are Possible…In Manageable Chunks

Big Goals Are Possible…In Manageable Chunks

Posted on 16. Dec, 2010 by .

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National Novel Writing Month, or NaNoWriMo as it’s called, happens every November. It’s one of those self challenges that we often take on, “Just to see if we can do it.” The goal for NaNoWriMo is to write a 50,000 word novel in just 30 days.

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Housing Crisis is an Ongoing Regional Opportunity

Housing Crisis is an Ongoing Regional Opportunity

Posted on 14. Dec, 2010 by .

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The facts and statistics speak for themselves. The number of people losing their homes is soaring. Lenders seized more U.S. homes this summer than in any three-month stretch since the housing market began to bust in 2006. But many of the foreclosures have been challenged in court.

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Preparing Your Properties for Winter

Preparing Your Properties for Winter

Posted on 09. Dec, 2010 by .

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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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Part 2: The Right Team is Your #1 Ingredient for Success

Part 2: The Right Team is Your #1 Ingredient for Success

Posted on 07. Dec, 2010 by .

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This is the second post in a two part series based on the book Good to Great by Jim Collins. We will discuss making the right hiring decisions, turning loose of bad behavior and making sure personal competencies fit roles and responsibilities.

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Helpful Holiday Facebook Strategies for Property Managers

Helpful Holiday Facebook Strategies for Property Managers

Posted on 03. Dec, 2010 by .

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How can an apartment community build their fan count by appealing to the good will of others? Below are two strategies to kick off a brainstorming session this holiday season.

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Cash Versus Accrual Accounting – Which is Right for You?

Cash Versus Accrual Accounting – Which is Right for You?

Posted on 02. Dec, 2010 by .

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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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The Right Team Is Your #1 Ingredient For Success In Property Management

The Right Team Is Your #1 Ingredient For Success In Property Management

Posted on 23. Nov, 2010 by .

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This is the first of a two part series where I will be using the book Good to Great by Jim Collins to talk about the topic of people. In the book Jim and his team of very talented researches dig up a few practical principles used by companies to differentiate themselves from the crowd.

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To Fee or Not to Fee, That Is the Question

To Fee or Not to Fee, That Is the Question

Posted on 17. Nov, 2010 by .

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One of the many ways property managers earn a living is by charging fees for their services. And those fees can add up to a significant amount. Not wanting to nickel and dime the owners they work for, some property managers will absorb various costs or give away some of the extra time spent dealing with administrative issues.

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Keeping Properties Safe Over the Holidays

Keeping Properties Safe Over the Holidays

Posted on 11. Nov, 2010 by .

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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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Five Easy Ways to Give Your Rentals More Curb Appeal

Five Easy Ways to Give Your Rentals More Curb Appeal

Posted on 09. Nov, 2010 by .

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If your rental properties make a great first impression then potential residents will want to see what’s on the inside. This article will focus on rental properties with five units or less, and is especially applicable for rental houses.

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Bank Reconciliation Best Practices for Property Management

Bank Reconciliation Best Practices for Property Management

Posted on 05. Nov, 2010 by .

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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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Uh-Oh. My Facebook Fan Page is Filled with Vacancy Postings

Uh-Oh. My Facebook Fan Page is Filled with Vacancy Postings

Posted on 03. Nov, 2010 by .

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Now that you’ve created a Facebook Fan Page for your Property Management company you need to actually post things to it that are interesting to your audience! If your Facebook Fan pages are filled with vacancies, updates and specials, it will take you a while to build a great fan base. Ask yourself – what would I find interesting, useful or entertaining?

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Six Simple Actions That Keep Your Apartment Community ‘Tip of Tongue’

Six Simple Actions That Keep Your Apartment Community ‘Tip of Tongue’

Posted on 27. Oct, 2010 by .

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For a lot of people, searching for an apartment is one of those dreaded but necessary experiences you have to go through from time to time. It ranks up there with paying taxes, putting gas in your car and getting a haircut. People are busy and the process of searching for a new place to live just is not that much fun.

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Standing Out In a Crowd of Property Management Companies

Standing Out In a Crowd of Property Management Companies

Posted on 15. Oct, 2010 by .

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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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Live from NARPM’s 22nd Annual Convention and Trade Show

Live from NARPM’s 22nd Annual Convention and Trade Show

Posted on 14. Oct, 2010 by .

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Welcome to our coverage of NARPM’s 22nd Annual Convention and Trade Show in Seattle, WA at the Seattle Sheraton Downtown. This year’s theme is “Dare To Soar”. Please, feel free to share your experiences in the comments area at the bottom of this post.

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