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Property Managers Flourish as Housing Supply Sinks

Property Managers Flourish as Housing Supply Sinks

Posted on 24. Mar, 2015 by .

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Conditions keep improving for the property management business across the U.S. That’s partly due to the slumping supply of houses for sale which has been waning since the final quarter of 2014. The reasons for the sparse number of homes for sale vary according to regions. Most areas are benefitting from lower mortgage rates allowing […]

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Are You Ready for an Audit?

Are You Ready for an Audit?

Posted on 17. Mar, 2015 by .

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Isn’t it amazing how a simple five-letter word can create such panic and anxiety in so many of us. While tales of audit disaster are found everywhere, most audits are simple and straightforward, involving little drama and a lot of paperwork. Of course, even with these reassurances, being audited, whether it’s by the IRS, the […]

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Give Distressed Property Owners a Government-Backed Solution

Give Distressed Property Owners a Government-Backed Solution

Posted on 12. Mar, 2015 by .

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Opportunity is often disguised in distressful situations. Property managers know that all too well. Many have shared with me how they turned “lemons” into “lemonade” by their careful vigilance. Recently The Federal Housing Finance Agency (FHFA) announced new requirements for sales of non-performing loans (NPLs) by Freddie Mac and Fannie Mae (the Enterprises).  This involves […]

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Tools for Success

Tools for Success

Posted on 05. Mar, 2015 by .

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When I think about tools, images of hammers, screwdrivers, and drills pop into my head. I certainly don’t think about computers, software, continuing education, or a pizza party. But just as a carpenter needs a hammer to do his job well, property management employees need the proper tools to do their job well. Remember, you […]

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Property Managers Can Grow By Acquiring Their Competition

Property Managers Can Grow By Acquiring Their Competition

Posted on 03. Mar, 2015 by .

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Often in my articles I’ll comment on smart ways for property management companies to grow their existing businesses. Organic growth is the primary approach but not the only one. Another hot topic for property managers is how to stay one step ahead of the competition. With the assistance of the latest technologies you can save […]

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Prudent Property Managers Prepare for Flood of New Renters

Prudent Property Managers Prepare for Flood of New Renters

Posted on 24. Feb, 2015 by .

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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 […]

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The Dreaded Task

The Dreaded Task

Posted on 17. Feb, 2015 by .

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Of all of the tasks required of a property manager, what is the one task that most property managers dread? If you said evictions, you’re correct. While careful applicant screenings can help in reducing the number of evictions necessary, every property manager will eventually find themselves in a position to evict a resident. But are […]

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Work an Extra Hour on Weekends to Become Your Personal Best

Work an Extra Hour on Weekends to Become Your Personal Best

Posted on 10. Feb, 2015 by .

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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 […]

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Should  you write a blog?

Should you write a blog?

Posted on 03. Feb, 2015 by .

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If you’re looking for an inexpensive way to build awareness about your property management company while also building relationships with both potential and current residents, you may want to consider starting a blog.  While you may have some initial reservations, it’s really quite easy to start, and you can always convince co-workers to contribute as […]

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More Inexpensive Ways Property Managers Attract Good Residents

More Inexpensive Ways Property Managers Attract Good Residents

Posted on 27. Jan, 2015 by .

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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 […]

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Property Managers Find Small Cities a Gold Mine of Renters

Property Managers Find Small Cities a Gold Mine of Renters

Posted on 22. Jan, 2015 by .

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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 […]

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Property Managers Face Housing Slowdown as 2015 Begins

Property Managers Face Housing Slowdown as 2015 Begins

Posted on 08. Jan, 2015 by .

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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 […]

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Make 2015 the Best Year Ever – Part II

Make 2015 the Best Year Ever – Part II

Posted on 06. Jan, 2015 by .

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Are you ready to begin?  There’s something about a new year that provides many of us with the impetus to change. For many of us, becoming more organized is a big part of that change. Yes, you can continue to rifle through that two-foot tall stack of papers resting on your desk, or you can […]

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Make 2015 the Best Year Ever – Part I

Make 2015 the Best Year Ever – Part I

Posted on 01. Jan, 2015 by .

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It’s a brand new year.  If you’re like most of us, you have a long list of New Year’s resolutions that you have vowed to keep this year.  And, if you’re like most of us, becoming better organized in 2015 is somewhere on that list; after all it’s one of the Top 10 resolutions year […]

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Property Management’s Golden Rules

Property Management’s Golden Rules

Posted on 18. Dec, 2014 by .

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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 […]

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Simple Ways to Fill Vacancies Quickly, Carefully, Intelligently

Simple Ways to Fill Vacancies Quickly, Carefully, Intelligently

Posted on 16. Dec, 2014 by .

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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 […]

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Make 2015 Your Best Year Yet!

Make 2015 Your Best Year Yet!

Posted on 09. Dec, 2014 by .

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As 2014 draws to a close, there’s no better time to begin to assess the year.  If there’s nothing you would change for 2015, you can probably stop reading now.  But for most of us, there’s always something that we can do better, faster, more efficiently, and more profitably.  One of the best ways to […]

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Have a Stress-free, Rewarding Holiday Season

Have a Stress-free, Rewarding Holiday Season

Posted on 04. Dec, 2014 by .

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While the holiday season conjures up visions of family gatherings, robust meals and brightly wrapped presents, the reality can often be very different.  Today, it’s rare to find anyone who doesn’t experience at least some stress while coping with the holiday season.  From your employees, your residents, and even your own family and friends, instead […]

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Housing Data Confirms Contradictions, Favors Rentals

Housing Data Confirms Contradictions, Favors Rentals

Posted on 27. Nov, 2014 by .

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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 […]

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An Opportune Time of Year for Property Managers to Shine

An Opportune Time of Year for Property Managers to Shine

Posted on 25. Nov, 2014 by .

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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 […]

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Keeping Your Properties Safe during the Holidays

Keeping Your Properties Safe during the Holidays

Posted on 20. Nov, 2014 by .

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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 […]

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First Time Home Buyers are not Buying

First Time Home Buyers are not Buying

Posted on 11. Nov, 2014 by .

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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 […]

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Looking at the Big Picture

Looking at the Big Picture

Posted on 04. Nov, 2014 by .

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Are you so bogged down in the details of your day to day management duties to take some time and look at the bigger picture?  With the pressure to fill empty units, keep the property profitable, and make hundreds of people with very different personalities happy, property managers can sometimes forget to spend some time […]

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Property Managers, Here’s How to Increase Your Income

Property Managers, Here’s How to Increase Your Income

Posted on 28. Oct, 2014 by .

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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 […]

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