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4 New Years Resolutions Every Property Manager Can Keep

4 New Years Resolutions Every Property Manager Can Keep

Posted on 22. Dec, 2015 by .

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With the New Year just around the corner, you’ve probably begun to think about your resolutions for the coming year. Why not resolve to tackle the issues that have proven to be your nemesis? While the list will vary widely from manager to manager, there’s likely a few things that all will agree would be of […]

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Go Paperless in 2016

Go Paperless in 2016

Posted on 18. Dec, 2015 by .

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The typical property management office is inundated with paperwork – everything from applications to leases, lease addendums, move-out paperwork, and security deposit refunds. Now, imagine your office without paper. No stacks of applications waiting to be filed. No leases or move-out paperwork stacked on a leasing agent’s desk. Kind of hard to do, isn’t it? […]

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How to Celebrate the Holidays with Your Renters

How to Celebrate the Holidays with Your Renters

Posted on 08. Dec, 2015 by .

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During November and December, the holidays often take center stage, and the property management community is no exception. And each November and December, property managers are often faced with a dilemma – how should they celebrate the holidays at their community? While this typically is not a problem for those managing single-family homes, managers at […]

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HOAs – 7 Insights for Property Managers

HOAs – 7 Insights for Property Managers

Posted on 01. Dec, 2015 by .

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As more single-family subdivisions are built and more apartment complexes convert to condominiums, many form Home Owner Associations (HOA). These are opportunities for good property management! Many an HOA would prefer not to deal directly with the myriad issues of coping with the needs of owners and their renter-residents. Enforcement of the Covenants, Conditions and […]

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Property Manager Potpourri of Gratitude and Good Ideas

Property Manager Potpourri of Gratitude and Good Ideas

Posted on 24. Nov, 2015 by .

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The following is my open letter to the property managers and readers of my articles. It is intended to make a meaningful, positive difference in your professional and personal lives. Dear Property Managers and Other Readers, This is the time of year that motivates me to thank you for being a part of our extended […]

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Property Managers Emphasize Time Efficiency

Property Managers Emphasize Time Efficiency

Posted on 17. Nov, 2015 by .

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All of us in the business of property management wish there were more hours in the day to complete our work. Yet as the old saying goes “Time waits for no one…” and few have time to waste. Yes, more time is often what we want most, observed William Penn, “…but what we use worst.” By […]

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Preparing Your Properties for El Niño

Preparing Your Properties for El Niño

Posted on 12. Nov, 2015 by .

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While preparing for winter weather is a common occurrence for property managers throughout the country, the preparation for this year’s winter may be slightly different. The National Oceanic and Atmospheric Administration (NOAA) has predicted the return of El Niño this winter; one of the strongest on record. The return of El Niño means a shifting […]

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Why Property Managers Need Powerful Advocates

Why Property Managers Need Powerful Advocates

Posted on 05. Nov, 2015 by .

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When I first spoke with Marshall Saunders, a 30-year veteran in the Midwest real estate market who owned and ran the largest RE/MAX office in the world, I knew he’d be an effective advocate. It wasn’t even because he now owns a leading midwestern real estate investment platform, SaundersDailey, which led me to believe he […]

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Preparing Your Business for the New Year

Preparing Your Business for the New Year

Posted on 03. Nov, 2015 by .

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It’s never too early to prepare for year end. Because year end is typically when new systems are implemented, new software purchased, or current work wrapped up, the sooner you can get a jump on these items the better. Here are some things you can finish up now to make a fresh start for the New […]

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Discover the Secrets to Increased Success

Discover the Secrets to Increased Success

Posted on 29. Oct, 2015 by .

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Whether it’s the last quarter of your business year or the first, knowing some secrets that help you to increase your business’ results can really pay off. Let’s begin with a powerful starting point. Napoleon Hill, the author of one of my favorite books on success (“Think and Grow Rich”) made this observation: “The starting […]

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The 2016 Property Management Office

The 2016 Property Management Office

Posted on 12. Oct, 2015 by .

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In 1985, the life of a property manager was primarily driven by paperwork. Tenant applications, move-in forms, move-out forms, leases, leasing bonuses, move-out forms, rent receipts, maintenance requests, and work orders; everything required a piece of paper of some kind. Fast forward 30 years, and many property managers and residents may marvel at the tools available for […]

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More SFRs and the Call for Seasoned Property Managers

More SFRs and the Call for Seasoned Property Managers

Posted on 06. Oct, 2015 by .

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Good news is worth celebrating, and there’s good news for the property management business: A huge increase in residential rental real estate will soon need your services. As I’ve reported numerous times during the past two years, more and more homes are being purchased for conversion to single-family rentals (SFR). Since the crash of 2008-2009 […]

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Property Managers Seek Clues on Economy and Local Real Estate Valuations

Property Managers Seek Clues on Economy and Local Real Estate Valuations

Posted on 22. Sep, 2015 by .

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Knowledge is power, especially in the field of property management. Behind the scenes insights about the direction of interest rates, the national economy and housing values can make a lucrative difference. Recent news that home prices relative to personal income are soaring again is a good example. When the price of buying a condo or […]

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Property Managers Help Residents Save Money and Energy

Property Managers Help Residents Save Money and Energy

Posted on 15. Sep, 2015 by .

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While vacancy rates are low many property managers are focusing attention on effective ways to retain good residents and proactively please their clients. Saving money is one of the most popular ways. The cost of energy to heat and cool buildings is rising once again. With seasonal variations and the extreme temperature changes many are facing, […]

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Easy Fixes to Make Your Property More Desireable

Easy Fixes to Make Your Property More Desireable

Posted on 08. Sep, 2015 by .

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Like anything in life, it’s often the little things that can make the difference between a signed lease and another week (or more) on the market. It’s hard to overstate the importance of a good first impression. While residents typically consider a variety of issues when deciding whether to rent a particular apartment or home, […]

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Electric Vehicle Charging Stations for California Landlords

Electric Vehicle Charging Stations for California Landlords

Posted on 28. Aug, 2015 by .

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California law provides a framework for California tenants to request permission from their landlords to install electric vehicle charging stations. AB 2565 added new Civil Code §§1947.6 (residential tenancies) and 1952.7 (commercial tenancies). A summary of the law is below. The full text of these code sections is included at the end of this article. […]

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Property Managers Prepare for More Renters and Fewer Vacancies

Property Managers Prepare for More Renters and Fewer Vacancies

Posted on 25. Aug, 2015 by .

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In today’s housing market there are some unmistakable trends that I’ve commented on in recent articles. The number of owner-occupied dwellings is dropping while rental vacancies are vanishing. Put another way, recent data from varying sources—including the Census Bureau—verifies that vacancy rates have fallen to a 30-year low. Residents are finding fewer choices available to rent than […]

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How to Turn Evictions into Growth Opportunities

How to Turn Evictions into Growth Opportunities

Posted on 18. Aug, 2015 by .

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There is nothing fun about the eviction process. However, when a resident stops paying rent or becomes a problem tenant, appropriate action must be taken. But property managers can turn this frustrating process into a growth opportunity to find new owners. You might also discover potential clients that are ready to sell their “headache” properties. Turn the stress of […]

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Property Managers Face Housing Market Conundrum

Property Managers Face Housing Market Conundrum

Posted on 07. Aug, 2015 by .

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Recent reports of a robust recovery in the construction and sales of single-family homes are eclipsed by stories of a boom in higher-density, multifamily complexes. Even publicly traded homebuilders are seeing their share prices soar to heights last seen well before the Crash of 2008. D.R. Horton (DHI), the largest publicly-traded homebuilding company recently reported […]

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Security Deposits: Know the Laws

Security Deposits: Know the Laws

Posted on 04. Aug, 2015 by .

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Security deposits continue to present a very unique set of problems for both property managers and staff alike. Property management companies large and small continue to struggle with this very routine task and often lose money in the process. The following is an example of security deposit mismanagement and the associated repercussions experienced by the […]

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Property Managers Face Bidding Wars as Housing Bubble Looms

Property Managers Face Bidding Wars as Housing Bubble Looms

Posted on 28. Jul, 2015 by .

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Just when we thought housing prices may cool down, a new sign of a housing “bubble” has emerged. This combined with a June surge in U.S. home construction has property managers paying attention. Other bubbles that directly relate to the property management business include rental rates, which moved 3% higher in June on a year-over-year […]

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Property Managers Revisit the Help of Yelp

Property Managers Revisit the Help of Yelp

Posted on 21. Jul, 2015 by .

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It’s been one year since my article urging property managers to “Get Yelp for Your Property Management Business.” Hopefully you heeded my suggestions and are reaping good results, because when used effectively and consistently, Yelp brings attention to any business that is customer-centric. If your marketing and management efforts are successful, the world will know […]

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Are You Ready to Offer Corporate Housing?

Are You Ready to Offer Corporate Housing?

Posted on 16. Jul, 2015 by .

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If you’ve considered offering corporate or short-term housing, you’re not alone. With property management costs steadily rising, property managers across the U.S. are looking for a reliable funding stream. With a significant increase in business travel and employee relocation, corporate housing is often suggested as a viable way to increase revenue. It’s no secret that […]

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Successful Property Managers Guard Key Relationships

Successful Property Managers Guard Key Relationships

Posted on 08. Jul, 2015 by .

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Often in life, it’s not only what you know but who you know that can make all the difference. Knowledge is powerful, but relationships are the bedrock of the property management business. It all begins with the people we work with, the folks we depend upon, and the personnel that help keep the wheels of progress […]

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