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Keeping Your Tenants To Produce More Profits

Keeping Your Tenants To Produce More Profits

Posted on 21. Oct, 2013 by .

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In the real estate game, when we are talking rental properties, one of the most important things that will help you earn more money is long term tenants. The longer the tenant stays, the lower the number of unit turnovers you will have. Turnovers cost money! So as owners, we should do everything possible to keep our tenants – and yes, occasionally there is a bad one we might unfortunately have to “fire” and let vacate! So, let’s talk about a few ways to help the cause!

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Organized Crime Rings Target Dropboxes On Rental Properties

Organized Crime Rings Target Dropboxes On Rental Properties

Posted on 15. Oct, 2013 by .

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All across the country, a disturbing trend for property management has emerged. What was once a perfectly safe method of rent payment has now become a target for criminals. Are you still asking tenants to deposit their rent checks into a dropbox? Are you thinking it’s a safe option, because you have security cameras?

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With The Fed Still Accommodating Is It Better To Rent Or Own?

With The Fed Still Accommodating Is It Better To Rent Or Own?

Posted on 10. Oct, 2013 by .

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As I’ve anticipated for weeks the Federal Reserve said on September 18th that it would continue buying bonds at an $85 billion monthly pace for the time being. The Fed is concerned that a sharp rise in borrowing costs in recent months could hurt the housing market as well as the rest of the economy.

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Valuing Property Via The Capitalization Rate Methodology

Valuing Property Via The Capitalization Rate Methodology

Posted on 04. Oct, 2013 by .

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When one wants to value property, like an apartment building, to get a feel for what it is worth, there are two different commercially recognized valuation approaches that are used. The first one is the comparable market approach analysis (CMA), which is used both for single unit residences and multi-unit properties. The second valuation approach is called the Capitalization Rate Valuation, or “Cap Rate” and it is used primarily for income producing multi-unit and other commercial properties.

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How To Create A Safe Neighborhood For Your Tenants

How To Create A Safe Neighborhood For Your Tenants

Posted on 30. Sep, 2013 by .

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You already know that you, as a landlord, have a legal obligation to provide your tenants with a safe and secure property. This can usually be accomplished by making sure that every door and window has a working lock, and there is adequate lighting around the exterior. However, even if your property is safe and secure if the neighborhood is sketchy potential tenants will continue to avoid it.

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Hot Technology Trends (Webinar Recap)

Hot Technology Trends (Webinar Recap)

Posted on 27. Sep, 2013 by .

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On September 17th with our co-hosts Grace Hill, we hosted an informative webinar titled ‘Hot Technology Trends,’ featuring Nat Kunes, Director of Product Management at AppFolio. Nat discussed which hot technology trends are emerging in the property management market and how you can leverage them to grow your business.

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Building Local Relationships to Increase Leasing

Building Local Relationships to Increase Leasing

Posted on 25. Sep, 2013 by .

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The number one job of the property manager is to lease. Whether it’s a unit in a multi-family complex or a single family home; the success of the property manager lies in large part in how quickly and how effectively they lease empty space. Today, there are more leasing tools available to property managers than ever before.

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Get Great References Before Renting To A New Resident

Get Great References Before Renting To A New Resident

Posted on 23. Sep, 2013 by .

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Are you ready for a shocking statistic? The latest psychological data and anecdotal evidence is that a large percentage (some studies show it’s over 50%) of the general public in the U.S. is willing to tell lies. Sometimes people call them “white lies”, others rationalize them as “half truths”, but a lie is a lie. Depending on which organization or school of psychology I’ve contacted, I’ve learned that somewhere between 10 and 15% of the population in America are classified as sociopaths.

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Preparing For Cool Weather

Preparing For Cool Weather

Posted on 16. Sep, 2013 by .

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Yes, technically it’s still summer, but we all know that Labor Day weekend marks the unofficial end of summer. While many regions of the U.S. will see warm temperatures well past Labor Day, it’s never too early to start preparing your properties for cooler temperatures. Getting a jump on seasonal preparations will also reduce the likelihood of being caught unprepared by an early winter storm.

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10 Unexpected Ways To Drive Rentals Through Social Media

10 Unexpected Ways To Drive Rentals Through Social Media

Posted on 12. Sep, 2013 by .

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Before a renter actually goes out and looks at apartment complexes, she browses online to find locations that she might like. Social media has created an opportunity to win over prospective renters before they even visit your complex’s website. But just mentioning your available units is not enough, especially if you’re managing a large property. You need to get creative.

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Property Managers: Are You Closing Enough Leads?

Property Managers: Are You Closing Enough Leads?

Posted on 09. Sep, 2013 by .

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At Fourandhalf, we spend a lot of time talking to our clients about property management marketing techniques. However, even the best marketing strategies will fall short if a property manager isn’t able to close leads. Without a lead management system, your marketing efforts, social media presence, your pay per click programs and your business networking will simply be a way of spending money instead of making it.

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How To Serve A Notice On A Residential Tenant In California

How To Serve A Notice On A Residential Tenant In California

Posted on 28. Aug, 2013 by .

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Personal service should generally be attempted before resorting to substituted service or posting and mailing. If the notice is posted, California law requires that it be placed in a conspicuous place on the property. The main entrance door for the property is likely the most “conspicuous place” on the property. To avoid privacy issues, it is also recommended that the notice be turned facing the door, with all four corners taped to the door securely and the words “from management” written on the outside.

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Increase In Cash-Centric Renters

Increase In Cash-Centric Renters

Posted on 26. Aug, 2013 by .

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Have you noticed fewer tenants wanting to pay rent in ways other than good old checks or direct withdrawal? You’re not alone, and it’s not just a trend in your area. The fact is, adults in more than 24 million U.S. households — one in five — are “un-banked,” with no bank account, or “under-banked,” with adults conducting some or all of their financial transactions outside of the mainstream banking system.

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Income Taxes – How Real Estate Can Save You Money

Income Taxes – How Real Estate Can Save You Money

Posted on 21. Aug, 2013 by .

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People frequently purchase investment real estate with the belief that they will save some money on their income taxes as a result of their property ownership. And this could be true, but in many cases real estate provides an owner with virtually no tax savings at all. In this article we’ll talk about rental properties and how you can figure out, with your tax advisor, if your real estate ownership will assist you to reduce your annual tax bill.

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Leasing Specifics Property Managers Need to Know

Leasing Specifics Property Managers Need to Know

Posted on 19. Aug, 2013 by .

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Completing a leasing agreement with your tenants is the single most important task that you will undertake. While completing a lease has likely become second nature to most property management professionals, you may want to take a little extra time and think about everything that needs to be in that lease; before it’s presented to your future tenants.

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What Is The Rental Rush?

What Is The Rental Rush?

Posted on 16. Aug, 2013 by .

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Across the country, the “rental rush” is starting to set in, and for the first time since the housing market bubble busted in 2008, home prices are at the highest ever. The housing prices are having an unintended effect on the rental market, which has led to a growth spark within the property management industry as a whole.

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Why Professional Appearance Is So Important

Why Professional Appearance Is So Important

Posted on 13. Aug, 2013 by .

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Your landscaping is immaculate on your property. Your office and your staff offices are clutter free and welcoming. The chairs and sofas in your clubhouse are comfortable and stain free. Perhaps a batch of fresh-baked cookies sits in the reception area. Everything is in its place – right?

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Due Diligence – What Is Important When Buying Real Estate?

Due Diligence – What Is Important When Buying Real Estate?

Posted on 08. Aug, 2013 by .

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When you make a big purchase, or an investment, buy a car, sign up for healthcare, etc. you do you “homework” to hopefully make a sensible decision that gives you good value for the money you are spending. When you buy real estate, which is likely to be the most expensive, most complex, and riskiest purchase you will ever make, there is an extraordinary amount of due diligence that you should do to reduce your risk and make a smart decision.

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Turn Happy Tenants Into Positive Online Reviewers

Turn Happy Tenants Into Positive Online Reviewers

Posted on 07. Aug, 2013 by .

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Property managers have had a long time to figure out how to keep tenants happy. But with the advent of online reviews, it’s now necessary to make sure that tenants aren’t just happy, but that they share their enthusiasm for a particular apartment complex online.

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California Mobilehome Park Fair Housing Issues In 2013

California Mobilehome Park Fair Housing Issues In 2013

Posted on 01. Aug, 2013 by .

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This article is an overview of specific provisions of the Mobilehome Residency Law related to fair housing issues. State and federal fair housing laws may supersede or modify the MRL. Mobilehome park owners and managers faced with potential fair housing law issues should seek input from legal counsel familiar with state and federal fair housing law and the California Mobilehome Residency Law.

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June 2013 New Home Sales Soar And Property Managers Wonder

June 2013 New Home Sales Soar And Property Managers Wonder

Posted on 30. Jul, 2013 by .

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Recently I was perusing one of the online realtor association sites. There was a page lamenting that homes above a particular low price range weren’t selling. Alarming titles like “Shock Treatment May Dial in Price Reductions” suggest that home prices are often priced too high when put on the market. Is the next phase of the housing recovery lower prices? Perhaps so, depending on the area of the country and the number of foreclosed homes that are entering the supply of houses for sale.

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Commercial Real Estate Financing – Estimating A Property’s Maximum LTV

Commercial Real Estate Financing – Estimating A Property’s Maximum LTV

Posted on 25. Jul, 2013 by .

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Commercial real estate financing for income producing properties is a little different from residential real estate financing. In residential financing, the bank looks toward the borrower’s income as the primary source of repayment on the loan. With commercial financing, the bank looks first at the property’s income as the primary source of repayment on the loan.

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Online Rental Ideas And Housing Trends News

Online Rental Ideas And Housing Trends News

Posted on 23. Jul, 2013 by .

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First let me encourage you to listen to the free online webinar on a topic for property managers. Online rental expert Pierre Calzadilla (Manager of Trulia Rentals) provides practical tips about the effective approach to filling vacancies that you can apply to your business right away. Pierre covered the following: The top trends driving today’s […]

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Making Sure Your Properties Shine On The Outside

Making Sure Your Properties Shine On The Outside

Posted on 17. Jul, 2013 by .

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First impression matter as much as ever! Curb appeal still can make a big difference when it comes to attracting quality residents. Don’t believe me? Do what I did and interview rental shoppers. Location and the area of town is one of the “Big 3 Criteria” for prospective residents. Affordability was also one of the 3 biggies. Then I asked prospects, “How important are the exterior looks of the rental property?”

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