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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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The Value of Renters Insurance

The Value of Renters Insurance

Posted on 06. Jul, 2015 by .

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This question has been kicked around a lot in recent years: Should you require your tenants to obtain renters insurance? While some property management companies require their residents to purchase renters insurance, the vast majority continue to merely suggest that renters insurance be purchased. Unfortunately, this method of persuasion has done little to convince residents to do […]

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Property Managers Buy Smarter and Smaller

Property Managers Buy Smarter and Smaller

Posted on 23. Jun, 2015 by .

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As we go about our routine responsibilities of serving our owner-clients we often find good deals on residential income properties. That’s true today in smaller markets filled with plentiful opportunities. Bigger cities are the primary markets many investors are focusing on to increase their holdings of income housing. That’s why some of the smaller, out-of-the-spotlight […]

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Why Renting May Remain the American Dream

Why Renting May Remain the American Dream

Posted on 18. Jun, 2015 by .

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Nearly 7 years after the financial crisis of 2008, a time when mortgages seemed available to almost any American, the “American Dream” of owning a home continues to fade. The “old” dream was to save enough money for a down payment on a home that you could own or partly own by qualifying for a […]

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Retaining Quality Employees

Retaining Quality Employees

Posted on 16. Jun, 2015 by .

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As property managers, your primary focus is to locate and keep quality residents. Long-term residents can mean a stable rental income, less marketing dollars spent, and a stable rental community, which is attractive to all residents. One area that many managers may not realize the value of is a stable work force. Finding and retaining […]

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The Possible Consequences of Inadequate Resident Screening

The Possible Consequences of Inadequate Resident Screening

Posted on 09. Jun, 2015 by .

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We’ve all seen the ads – ‘no credit check, no deposit, move-in today!’ While some property managers may luck out and rent to a resident who does not skip out on the lease, does not destroy the property, and has adequate income to cover the rent, by running ads such as these, managers are opening […]

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Property Managers and Problem Residents Find Solutions

Property Managers and Problem Residents Find Solutions

Posted on 02. Jun, 2015 by .

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The list of quandaries property managers and landlords face when dealing with difficult residents is long. The good news is that solutions exist and having them can make all the difference in the world. Property managers and landlords need to know their rights, the laws of the state they live in, as should residents. When […]

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Is your Office as Green as it could be?

Is your Office as Green as it could be?

Posted on 19. May, 2015 by .

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While many property managers have consciously made changes in their daily habits to save energy and reduce their carbon footprint, are you doing as much as you can to make your office a little greener? If you feel like you’d like to make a greater environmental impact, here are some suggestions to try in your […]

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Property Management Turning Challenges into Opportunities

Property Management Turning Challenges into Opportunities

Posted on 12. May, 2015 by .

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As the property management business continues to evolve in this ever-changing world there will always be challenges. “Challenges” are what successful managers call problems and crises. Inherent in every challenge is a solution. Hidden in the emotional mire of a crisis are a number of easily overlooked opportunities. Are you adroit at turning these “lemons” […]

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Property Managers Need to Save for Retirement

Property Managers Need to Save for Retirement

Posted on 05. May, 2015 by .

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Congratulations, you have a secure job where the need for what you do keeps on growing. If you love your work as well you’re especially fortunate. Many people aren’t so lucky. The U.S. Department of Labor on April 30 that initial jobless claims for the week ending April 25 fell by 34,000 to 262,000, below […]

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Reaching and Communicating with the Next Generation of Renters

Reaching and Communicating with the Next Generation of Renters

Posted on 30. Apr, 2015 by .

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While print advertising remains a popular and effective way of marketing to potential renters, those hoping to reach the next generation of renters will need to make sure that their online communication skills are up to par. With more renters using mobile communication devices to look for apartments, having an active online presence is a […]

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The Many Benefits of a Nationwide Property Management Association

The Many Benefits of a Nationwide Property Management Association

Posted on 21. Apr, 2015 by .

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Vacancies are filling faster than ever. Rents are slowly rising in many areas of the country. Property managers are busier because many former home owners are choosing to be renters. So why would property managers consider joining an association of their peers? Is it really worth the effort, money and time? According to The National […]

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