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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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Swamp Coolers Versus Air Conditioning Part I

Swamp Coolers Versus Air Conditioning Part I

Posted on 10. Jun, 2013 by .

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I never heard of swamp coolers until I moved to Las Vegas, NV. As I was touring my friend’s new home, he explained that instead of air conditioning, his home was cooled by a swamp cooler. If you currently manage properties in the West or Southwest regions of the U.S., chances are you’re familiar with these evaporative cooling systems that are typically referred to as swamp coolers.

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Rent Is The New Buy (Infographic)

Rent Is The New Buy (Infographic)

Posted on 07. Jun, 2013 by .

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According to the National Association of Realtors, 5 to 6 million new renter households will be created within the next 10 years. In this infographic, we take a look at why most renters are opting not to buy a home and why it’s currently a renter’s market.

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The Challenges Of Home Ownership Make Renting Very Attractive

The Challenges Of Home Ownership Make Renting Very Attractive

Posted on 05. Jun, 2013 by .

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Those of us who bought our homes towards the top of the last housing bubble (2003-2007) are relieved to hear that the average price for houses is climbing steadily in most regions of the U.S. Yet for many the cost of buying a house is still making it difficult or impossible to become homeowners. Even though interest rates are still at all-time lows, it’s still tough to qualify for a mortgage.

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Summer Preparations For Property Managers

Summer Preparations For Property Managers

Posted on 31. May, 2013 by .

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Isn’t summer everyone’s favorite time of year? As the song tells us, it’s when the living is easy, and many people are out enjoying the long days, the warm weather and activities that just aren’t possible during the fall and winter months. For property managers, there can be one drawback to that bright summer sunshine.

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Having The Courage Of Your Convictions As A Property Manager

Having The Courage Of Your Convictions As A Property Manager

Posted on 29. May, 2013 by .

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We just finished celebrating Memorial Day. It’s helpful for me to remember that’s the day when Americans honors men and women who died while serving in the U.S. military. I want to pay my deepest respect to their memory and to their loved ones. Originally known as Decoration Day, Memorial Day originated in the years following the Civil War and became an official, very significant federal holiday in 1971.

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Spruce Up Your Properties For The Big Moving Season

Spruce Up Your Properties For The Big Moving Season

Posted on 22. May, 2013 by .

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As we all know it won’t be long until school is out and summer arrives. That is traditionally the beginning of the time that owners and renters are more likely to move to new locations. It’s also the time when the vacancy rate can fluctuate and the turnover rate increases.

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The Secrets Of Successful Property Management

The Secrets Of Successful Property Management

Posted on 21. May, 2013 by .

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Now that’s a title that should make all property managers very curious. Actually it’s the title of a webinar that was offered on Thursday May 9, 2013 and can be listened to at this link. These free webinars and podcasts should be a regular part of a property managers’ month.

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Facebook Graph Search: A Great Opportunity For Property Managers (eBook)

Facebook Graph Search: A Great Opportunity For Property Managers (eBook)

Posted on 20. May, 2013 by .

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Facebook recently released an exciting new feature called Graph Search. The social search feature makes it easier for your property Facebook page to be discovered by people who want to learn more about your property management business.

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What Do You Bring To The Table?

What Do You Bring To The Table?

Posted on 15. May, 2013 by .

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If you’re just starting your own property management business, it’s important to identify what you bring to the table. Is it your expert customer service? Affordable fees? Years of property management experience? Whether you’re planning on managing multi-family units, rental homes, or commercial properties, the skills and experience you can identify and later offer potential customers plays a large part in building and retaining your customer base.

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