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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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Property Investing – Go For The Cash Flow, Not Location, Location, Location

Property Investing – Go For The Cash Flow, Not Location, Location, Location

Posted on 15. Jul, 2013 by .

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When discussing real estate investments, we often hear people say the three most important words in real estate are location, location, location. And while “3L” properties may be some of the finest looking and most prestigious properties to own, the reality is that they are generally very poor investment choices. The reason is that the investment returns on these location properties are typically very low; and one should strive for better investment returns to compensate for the risk.

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Trends Property Managers Need to Know About

Trends Property Managers Need to Know About

Posted on 11. Jul, 2013 by .

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If you look at the latest Case-Shiller Home Price Index data released on June 25, 2013 it’s no longer a question that the trend for the price of an existing home is on the upside. Cities like San Francisco saw the largest year-over-year growth at 23.9%, while New York saw the lowest at 3.2%. Those rates compare with a 20-city average of 12.1%, the fastest annual pace in seven years.

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Turning Distressed Property Around

Turning Distressed Property Around

Posted on 10. Jul, 2013 by .

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Under the best of circumstances, being a property manager can be a stressful career choice. Throw a distressed property in a high-crime area into your portfolio, and that stress level can increase tremendously. While it won’t be easy, turning a crime-ridden property into a safe haven for grateful tenants and a money maker for your portfolio can be done.

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Four Mistakes to Avoid When Targeting Generation Y Renters

Four Mistakes to Avoid When Targeting Generation Y Renters

Posted on 05. Jul, 2013 by .

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Property managers are starting to cater to the next big rental market; Generation Yers. With an estimated 80 million people born between 1978 and 1995, Gen Yers can be a great group to target as prospective tenants. According to a study by Pew Research Center, they are less likely to buy a home then previous […]

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Time To Upgrade Your Property Manager Tools?

Time To Upgrade Your Property Manager Tools?

Posted on 01. Jul, 2013 by .

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Even if you’re happy with your current internal processes and the tools you use, it never hurts to make a periodic assessment of those tools. While it’s fairly easy to tell when it’s time to upgrade your computer or replace your printer, it’s far more difficult (and painful), to determine when other parts of your business need upgrading.

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Is The Recovery In Housing About To Go Belly-Up?

Is The Recovery In Housing About To Go Belly-Up?

Posted on 24. Jun, 2013 by .

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Existing home sales in May were up 4.2% which is the highest level in over 40 months. Buyers were most likely motivated by a profound shortage of inventory in some areas as well as wanting to lock-in mortgage rates before they go any higher. Just in the past couple of weeks the interest rate on the 10-year Treasury bond, the benchmark for mortgage rates, has spiked up above 2.5%. No wonder the 30-year mortgage interest rates have leaped over the 4% barrier. Some are wondering is the Federal Reserve about to harpoon the housing recovery?

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Swamp Coolers Versus Air Conditioning Part II

Swamp Coolers Versus Air Conditioning Part II

Posted on 12. Jun, 2013 by .

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In my last post, I talked about the advantages and disadvantages of continuing to use swamp coolers in your properties. In fact, business is booming for many HVAC companies touting the advantages of converting evaporative cooling systems to conventional air conditioning systems.

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