Posted on 26. Mar, 2013 by Marc Courtenay.
Sometimes the owners of rental properties are too trusting for their own good. You, as the property manager, undoubtedly know what I’m referring to. But that’s why the owner hires you to begin with. They don’t want to have to deal directly with the resident-tenant, right? For this article I wanted to share a true story that demonstrates why it’s imperative to protect your clients from situations where the resident says something like, “We don’t need it in writing. I have great references and my word is as good as any document.”
Posted on 21. Mar, 2013 by Mary Girsch-Bock.
As property managers, we’re all aware of the multitude of issues that frequently arise with unreliable tenants. Late rental payments, disturbing the peace, illegal activity, and a general disregard for the property are all problems that typically arise in the property management industry.
Posted on 19. Mar, 2013 by Mary Girsch-Bock.
They’re the words that strike fear in most of us. “You’re being audited.” First, don’t panic. Many IRS audits are simple requests for information that you can provide by mail. Providing the information requested on a timely basis typically satisfies the IRS.
Posted on 13. Mar, 2013 by Marc Courtenay.
The home-buying market is on fire, especially for newly built houses. New home sales surged almost 29% in January compared to January 2012. This is the highest annual sales rate in four years according to figures released by the Commerce Department on Tuesday, Feb. 26th. Existing home sales also rose in January 2013 by 9.1%. Ironically, even though new houses (new construction) cost buyers approximately 37% more for the same square footage as previously owned houses, it’s the new homes that are selling at the hottest pace.
Posted on 06. Mar, 2013 by Mary Girsch-Bock.
You’ve done your homework. The condition of every unit or home you rent is carefully documented, with pictures to support your findings. The tenant lease clearly states what your tenant is responsible for, and they have read and agreed to the responsibilities listed. Your tenant signed off on the list, and any subsequent problems found during the walk-through were addressed and noted on both copies of the move-in sheet.
Posted on 27. Feb, 2013 by Marc Courtenay.
With all the media hype about the so-called looming fiscal cliff, it’s a good time of the year to remember how to avoid financial disasters and to do what we can to prevent losses. Property Managers with experience know how costly the process of eviction can be, as well as the expense of repairing damaged rental units that have been “trashed” by destructive former residents.
Posted on 25. Feb, 2013 by Bryan Ives.
On February 14th we co-hosted a webinar with Grace Hill, featuring Charity Zierten (Socially Engaged Marketing), a leading expert on social media for property management. In this webinar video recording, Charity shares her perspective on how to successfully use Pinterest for your property management business.
Posted on 20. Feb, 2013 by Mary Girsch-Bock.
Security Deposit processing continually challenges property managers across the country. In theory, this should be one of the easier things that property managers are required to do. The tenant provides management with a security deposit that will be held during the life of the tenancy.
Posted on 14. Feb, 2013 by Mary Girsch-Bock.
While there are several long term investments you can make to reduce your carbon footprint such as installing low flow toilets in each apartment, or xeriscaping the lawn to reduce water consumption, there are several easy, inexpensive things you can do to conserve energy and leave the environment just a little bit cleaner and your carbon footprint a little bit lighter.
Posted on 07. Feb, 2013 by Bryan Ives.
According to the Geographical Mobility 2012 report by the United States Census Bureau, Americans are finally relocating after record low numbers in 2011. So what finally got them to pack up and move out?
Posted on 05. Feb, 2013 by Jennifer St. James.
Some days it feels like companies are pushing for every kind of insurance, and it’s hard to imagine shelling out any more of your hard-earned dollars for something you’re not sure you need. But at the heart of it all, insurance is about one thing: Protection.
Posted on 30. Jan, 2013 by Marc Courtenay.
It seems like every month we’re reading or hearing about the resurgence in home sales and prices. I’m confident that in most regions of the country the bottom has been established for the housing market, yet it’s good to see more clues (data) that confirm that the housing bust is over for now.
Posted on 25. Jan, 2013 by Bryan Ives.
We co-hosted a fantastic webinar with Grace Hill titled “Raising Rents Without Raising Turnover” featuring Doug Chasick, the Apartment Doctor. Along with being a great educator, Doug has years of property management experience in the multifamily industry and we were fortunate to have him as our featured presenter.
Posted on 22. Jan, 2013 by Marc Courtenay.
It’s official! Home prices are on track to have their first yearly gain since 2006. This would make it the strongest year of price growth since home prices began to plunge, reaching their nadir in 2009.
Posted on 17. Jan, 2013 by Bryan Ives.
Renting has become an economic and lifestyle choice for more than half (57%) of those under the age of 34 and 46% of those under the age of 45. The United States population seems to favor apartment living, and according to the National Apartment Association (NAA), this trend will continue for many years to come.
Posted on 15. Jan, 2013 by Mary Girsch-Bock.
Leasing up your apartment community can be challenging in the best of time. But for smaller property management companies or those managing smaller properties, it can become even more difficult to compete with larger companies with a more robust marketing budget.
Posted on 11. Jan, 2013 by Marc Courtenay.
This thoughtful topic came to my attention as I was reading the PropertyManager.com discussion page at LinkedIn. My first reaction was, “Wouldn’t it be nice if we lived in a world where these kinds of people-to-people discussions could be mutually beneficial and rewarding.”
Posted on 08. Jan, 2013 by Marc Courtenay.
An investor friend of mine called recently to ask if I could recommend some competent property managers in our area. Fortunately I knew of several so I gave him the names plus the pros and cons of each one (my way of being helpful and objective). In the course of our conversation he told me that mid-range houses were being snapped up by income-oriented investors the same day they were put on the market for sale.
Posted on 28. Dec, 2012 by Bryan Ives.
We co-hosted a great webinar with Grace Hill, featuring Darnell Holloway, Manager of Local Business Outreach at Yelp.com. Darnell covered a lot of material in this webinar from outlining the Yelp basics to unlocking your free online business tools.
Posted on 28. Dec, 2012 by Mary Girsch-Bock.
With the exception of the retail sector, business is typically slow during the holidays, and the property management business is no exception. Leasing rates between mid-November and December 31st can be extremely slow for even the most visible properties, with the units that are vacant at the end of October statistically more likely to still be vacant at the end of the year.
Posted on 20. Dec, 2012 by Marc Courtenay.
Everybody’s talking about it and there are some big, publicly-traded companies that specialize in Customer Relations Management (CRM). I had no idea how big of a topic this was until my associates at Casey Research brought me up to date.
Posted on 17. Dec, 2012 by Mary Girsch-Bock.
The end of the year is always a time of reflection; what we’ve accomplished, what we would like to change, what we need to improve.
Posted on 12. Dec, 2012 by Marc Courtenay.
Hope this article reaches you on time, because this is the #1 time of the year to let your owner-clients and your staff know how much you appreciate them. Don’t be alarmed if you’ve put this off or forgot, because here’s two easy ways to keep from being The Grinch.
Posted on 10. Dec, 2012 by Marc Courtenay.
On almost a daily basis I hear anecdotal reports of syndicated investors as well as rogue opportunists seeking to find bargain houses that they can buy, fix up and rent out. At the same time the number of Americans who can’t qualify for a mortgage or don’t have enough money for a down payment is on the rise.