Tag Archives: business

How Property Managers Can Increase Their Earnings in Today’s Economy

How Property Managers Can Increase Their Earnings in Today’s Economy

Posted on 15. Jul, 2014 by .

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Property managers work hard for their money. Everybody talks about increases in the cost-of-living and rents rising, but how about the people who make rentals available? Yes, I’m referring to your clients the owners, and you, the liaisons between the residents and the “landlords”.  When’s the last time your clients called and said, “You deserve […]

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Being a “Remarkable” Property Manager

Being a “Remarkable” Property Manager

Posted on 19. Jun, 2014 by .

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Whether you’re following your passion or just trying to be successful at what you do for a living, it always counts to be in that esteemed group we call “outstanding”. There is more research surfacing that gives practical guidance on the characteristics of those who flourish and those who flounder. It’s not just motivation that […]

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3 Ways to Help Your Residents Pay on Time

3 Ways to Help Your Residents Pay on Time

Posted on 03. Jun, 2014 by .

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Other than filling vacancies, there are few topics more important for Property Managers than how to make sure your residents pay their rent on time and securely. From a behavioral vantage point, there are several effective ways to empower residents to pay their rent or lease payment on time, month after month. Here are three […]

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3 Minute Quiz: Discover Hidden Ways You May Be Wasting Money

3 Minute Quiz: Discover Hidden Ways You May Be Wasting Money

Posted on 03. Apr, 2014 by .

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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!      

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The Anatomy of Your Business and How to Reinvigorate It

The Anatomy of Your Business and How to Reinvigorate It

Posted on 25. Mar, 2014 by .

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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 […]

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Why You Shouldn’t Use Excel As Accounting Software

Why You Shouldn’t Use Excel As Accounting Software

Posted on 19. Feb, 2014 by .

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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.

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Use Google Local Search To Grow Your Property Management Business

Use Google Local Search To Grow Your Property Management Business

Posted on 29. Jan, 2014 by .

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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.

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Zillow Partners With AOL Real Estate

Zillow Partners With AOL Real Estate

Posted on 17. Jan, 2014 by .

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Zillow, Inc. has partnered with AOL Real Estate and is now powering the site’s home shopping experience. Zillow is now the exclusive provider of for-sale and for-rent listings to four of the top real estate websites in the country.

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Security Deposits – Part 1

Security Deposits – Part 1

Posted on 06. Jan, 2014 by .

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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.

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Lead Based Paint Hazards in California Residential Rental Property

Lead Based Paint Hazards in California Residential Rental Property

Posted on 20. Dec, 2013 by .

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The federal Residential Lead-Based Paint Hazard Reduction Act applies to residential property built before 1978. It imposes the following duties on owners.

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Will the Home Sales Spree Soon Leave Owners Holding the Bag?

Will the Home Sales Spree Soon Leave Owners Holding the Bag?

Posted on 16. Dec, 2013 by .

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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.

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Rents Rising At Alarming Rate

Rents Rising At Alarming Rate

Posted on 13. Dec, 2013 by .

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Since the housing crash in 2008, 4.6 million homes were lost to foreclosure causing the majority of those homeowners to become renters, according to CoreLogic. According to Harvard’s Joint Center for Housing Studies, there are now 43 million renter households. That’s 35 percent of all U.S. households, the highest rate in more than a decade for all age groups and 4 million more renters than there were in 2007.

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How To Choose The Right Property Management Software (eBook)

How To Choose The Right Property Management Software (eBook)

Posted on 09. Dec, 2013 by .

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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.

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Property Insurance – The Basics on Insuring Your Property

Property Insurance – The Basics on Insuring Your Property

Posted on 21. Nov, 2013 by .

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When you own real estate – whether an investment or a personal residence – you should procure the proper type and dollar value of insurance needed for your property. Unfortunately, many people don’t understand the basics of how insurance coverage works, and many individuals just want to spend “as little as possible” on insurance. The trouble comes about when there is an problem, like a fire, slip-n-fall, or lawsuit. If you don’t have the right type of insurance, nor enough coverage, it could end up costing you a lot of money. So let’s go over the basics herein, plus we’ll discuss renter’s insurance basics and tenant liability insurance basics too.

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Guide To The Cloud: Is It Time To Move Your Software? (eBook)

Guide To The Cloud: Is It Time To Move Your Software? (eBook)

Posted on 19. Nov, 2013 by .

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Many property management companies are quickly moving their business operations to the cloud. In this complimentary eBook, we cover what cloud computing is, how it can help your business grow and why so many property management companies are using cloud-based software.

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The Rise Of A New Class Of Renters Is A Property Manager’s Dream

The Rise Of A New Class Of Renters Is A Property Manager’s Dream

Posted on 18. Nov, 2013 by .

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If you’re a potential buyer or a former owner, you’re darned if you try to own and darned if you’re currently an owner. Unless you own a rental home or a multi-family residential income property, the days of buying a house and expecting the price to automatically rise with demand aren’t here yet.

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The Top 10 Apartment Resident Complaints

The Top 10 Apartment Resident Complaints

Posted on 13. Nov, 2013 by .

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When experiencing an uptick in vacancies, most property managers ask themselves what could be causing their resident to leave. Without asking former tenants directly (or waiting for a bad review) how can you discover the reason for their discontent?

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Property Management Outside Your Comfort Zone

Property Management Outside Your Comfort Zone

Posted on 07. Nov, 2013 by .

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One of the most frequent complaints I here from property owners who don’t live in the same area as their properties is how hard it is for them to find a trustworthy, dependable property manager. “Why is so difficult?” I usually reply. The owners often answer that it’s been there experience that when the property management firm knows you’re not local (and especially if they’re from out-of-state) they don’t give them the same level of service.

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The Things Property Managers Hate To Do

The Things Property Managers Hate To Do

Posted on 06. Nov, 2013 by .

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While most of us enjoy our job, and wouldn’t dream of trading it for another; there are some things that most property managers absolutely hate to do. While we love meeting new people and enjoy helping them find their perfect home, there are some things that go along with the job many of us hate doing.

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Is Your Apartment Community Ready For Halloween?

Is Your Apartment Community Ready For Halloween?

Posted on 30. Oct, 2013 by .

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Admittedly, Halloween is one of my favorite days. While serving as the gateway to the upcoming holiday season, Halloween is a day when we can let our inner child out to play. Ghosts, goblins, witches (my personal favorite) and vampires are found everywhere you look. What a great way to spend the day.

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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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