Posted on 27. May, 2014 by Mary Girsch-Bock.
The term risk management can mean different things to different people. But in short, effective risk management is concerned with both the financial and human consequences of unforeseen events. To effectively manage their properties, managers should make a concerted effort to become better educated in risk management; starting with identifying possible risks at each property, […]
Posted on 20. May, 2014 by Marc Courtenay.
On Friday May 16 the economic numbers turned Goldilocks-style “not to cold and not too hot”, and property managers need to be on top of these developments. First of all, the interest rate on the benchmark 10-year U.S. Treasury bond dropped to 2.5% from 2.7% in just one week’s time. That’s a 7.4% plunge, and […]
Posted on 13. May, 2014 by Marc Courtenay.
The most recent housing market index is beginning to show some cracks in the mortar. Confidence in the home building sector has deteriorated lately, according to the results of an industry survey released on Tuesday Feb. 18th. The National Association of Home Builders (NAHB) said its housing market index (HMI) slipped to 46 in February […]
Posted on 12. May, 2014 by Alexis Hammond.
Websites are a critical meeting point between property managers and residents. Here, we look at the costly mistakes property managers make when trying to maintain their websites themselves. Download the full size infographic here.
Posted on 08. May, 2014 by Alexis Hammond.
Acquiring new owners is essential to any growing property management business. Owners are looking for management companies that will make their lives easier and give them confidence that their properties are in the right hands. Are you maximizing your potential to draw in new owners? This useful list highlights 7 ways you can engage new […]
Posted on 06. May, 2014 by Mary Girsch-Bock.
It’s safe to say that property managers are constantly in search of ways to improve their properties. While some are obvious, others may not be quite so apparent. For instance, do you really know what your residents think of your clubhouse? Are they happy with property staff? Is staff response to complaints prompt or nonexistent? […]
Posted on 15. Apr, 2014 by Marc Courtenay.
With a title like this you may think I’m about to encourage you get a bodyguard or a permit-to-carry. While neither of those ideas are bad ones, I’m talking about reviewing your personal and business insurance. I’m also encouraging you to know your legal liabilities and your rights. Concerning insurance, this is a good time […]
Posted on 09. Apr, 2014 by Alexis Hammond.
Take a quick look around your desk. Is it covered in papers and handwritten sticky note reminders? Maybe your printer is running out of ink from all the owner statements you have to print. These are just a few hints that it may be time to modernize your property management business. Does any of this […]
Posted on 08. Apr, 2014 by Marc Courtenay.
Don’t let what happened to a property management company in Las Vegas, Nevada happen to you. The company had set up a convenient lock box so residents could drop off their checks after hours. The worst case scenario unfolded on a hot summer’s evening in July when thieves who had noticed the drop box of […]
Posted on 03. Apr, 2014 by Alexis Hammond.
Do you know where your property management business is wasting money? Take this 3-minute quiz and instantly uncover new and hidden ways to save money and increase profits in your business. More savings in your business today means more money to invest in growing your business tomorrow!
Posted on 01. Apr, 2014 by Marc Courtenay.
Here are three ideas from my upcoming article series titled “50 Ways to Fill Your Vacancies”. Like you, I’m fired up about the idea of having as many marketing tools as possible to manage properties effectively. As a property owner and/or manager, you may already have many successful ways to quickly fill your vacancies with […]
Posted on 25. Mar, 2014 by Marc Courtenay.
As your business evolves and grows your role as a property manager needs to be crystal clear to you, your clients and the residents you serve. Notice I listed “you” first. If you don’t fully grasp all the various roles that you’re playing in your business, how you prioritize your time and what is falling […]
Posted on 25. Mar, 2014 by Alexis Hammond.
Part 2 of this informative eBook from Social Media Expert, Charity Zierten. She shares insider tips on how to use local social techniques to strengthen your brand message, building relationships and encourage loyalty with prospects and residents. Download Your eBook Here
Posted on 25. Mar, 2014 by Alexis Hammond.
Interested in learning how to attract and retain residents through social media? Social Media Expert, Charity Zierten shares insider tips on how to use local social techniques to strengthen your brand message, building relationships and encourage loyalty with prospects and residents. She believes that in order to be more effective, it’s all about managing customer […]
Posted on 12. Mar, 2014 by Alexis Hammond.
In today’s world, your online presence is the face of your company. Most of the time it’s the first thing prospective owners and residents will see before initial contact is made. First impressions are key to engaging users. With technology advancing rapidly and Internet users expectations ever-increasing, knowing where to start and how to optimize […]
Posted on 27. Feb, 2014 by Marc Courtenay.
As 2014 begins a bureau created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, The Consumer Financial Protection Bureau (CFPB), will set new rules concerning mortgages. Lenders will be required to verify and inspect borrowers’ financial records. The rules discourage lenders from allowing borrowers to carry total debt payments totaling more than 43 percent of the person’s annual income.
Posted on 19. Feb, 2014 by Mary Girsch-Bock.
First, let me confess that I love Excel. Having used Excel for years, I’m fully aware of its strengths, and will continue to use it to create spreadsheets, graphs, and tables. But for some unknown reason, there is a small group of property managers that continue to extol the benefits of using Excel as their primary accounting software.
Posted on 17. Feb, 2014 by Marc Courtenay.
Housing affordability isn’t looking too promising as 2014 begins. If you listen to the National Association of Realtors the opportunity to be a homeowner hasn’t been this affordable in a long time. If you review Figure 2 below you’ll get the impression that American housing is now extremely affordable and the typical household can easily make the monthly mortgage payment on a home. Thanks to historically low interest-rates, fixed rate mortgages have become more affordable for some American families and many analysts expect that this cheap credit will fuel another housing boom.
Posted on 29. Jan, 2014 by Alex Osenenko.
Google+ is an Internet marketing tool that you can use to grow your property management business. If you’ve never used it before, think of it as an updated and digital re-creation of the yellow pages. It provides the same service to a local business by providing a category and a specific location for what you do and where you are. When your property management business is on Google+, anyone searching for a company like yours in your area will be able to find you.
Posted on 17. Jan, 2014 by Marc Courtenay.
The year 2013 will go down in the record books as a good year for both owners and managers of residential income properties. As I wrote recently in an article titled, It’s Tough to Afford to be a Renter These Days, “Housing affordability doesn’t look too promising as 2014 begins. If you listen to the National Association of Realtors the opportunity to be a homeowner hasn’t been this affordable in a long time.” If you’re looking to sell a home, 2014 may be a good year though probably not as good as 2013. But if you’re looking to buy, 2014 will likely be a better year than 2013.
Posted on 06. Jan, 2014 by Mary Girsch-Bock.
Did you know that a recent industry survey determined that 1 in 4 renters do not receive their security deposit back after vacating a rental unit? Though reasons varied, one statistic in the survey clearly stood out – nearly 36 percent of renters claimed that they never received a reason why their deposit was withheld. Their deposit simply wasn’t returned – an act that is illegal in almost every state.
Posted on 20. Dec, 2013 by Jamie Sternberg.
The federal Residential Lead-Based Paint Hazard Reduction Act applies to residential property built before 1978. It imposes the following duties on owners.
Posted on 16. Dec, 2013 by Marc Courtenay.
Has the housing market begun to plummet due to rising interest rates? Are rental housing values about to crash? Those who read my articles know I’m frequently asking the questions that rental property owners and managers should also be asking. The answers are vitally important during these uncertain economic times. As of November 27, 2013 the yield on the 10 year Treasury bond sits at 2.74%. This is the benchmark interest rate impacting home mortgage rates, and it’s been stuck around this level for months.
Posted on 09. Dec, 2013 by Stephanie Vernon.
Choosing the right property management software can seem overwhelming for many property managers. Because you don’t do it very often, you may not even really know what new features to look out for when evaluating a software solution.