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Archive for March, 2012

How to Choose the Right Window Coverings for Your Building – by Elite Shades

Posted on 30. Mar, 2012 by .

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Shutters, Sliding Panels and Roller Shades
Shutters offer traditional elegance that is engineered to last a lifetime. They won’t warp, chip, peel or fade and never need painting. Sliding panels are great when you need to liven up your décor. They are available in a wide variety of natural wood patterns. Whether you need to cover your patio doors or create an inviting room divider, these sliding panels are a perfect choice. Roller shades are the perfect combination of practicality and style. Their beauty is in their simplicity. Many styles are available in an array of today’s most fashion forward colors, designs and textures. A variety of light filtering options are also available ranging from light filtering to room darkening. And all styles increase energy efficiency and protect furnishings from the sun’s harmful rays. [...]

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MRLANDLORD.COM Tips on Management Is Your Sign in the Wrong Place? – by Jeffrey Taylor

Posted on 30. Mar, 2012 by .

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Once you’re in this business for several years, you’ll start seeing the cycles that are natural in real estate. The timing of the cycle will vary from area to area, but the cycle exists just the same. You’ll go from having all your rentals full and perhaps a waiting list of people wanting to rent from you, to having several empty apartments and not a good applicant in sight.
When you’re in that “down” cycle, times can get tough. I remember one such winter. It was cold and nobody wanted to move unless they absolutely had to. As you drove through my city, you would see For Rent signs on nearly every street. None of the landlords could fill their empty apartments. It was a renter’s dream because there were many more apartments than there were renters. [...]

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Why Smart Meters Are Not Smart For You! – by Ellen and Tobie Cecil

Posted on 30. Mar, 2012 by .

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Introduction to Smart Meters
As Pacific Gas & Electric (PG&E) in Northern California along with Southern California Edison (SCE) and San Diego Gas & Electric (SDG&E) in Southern California roll out a combined total of 11.7 million new electric and 10.6 new, gas Smart Meters (so-called), we as a property management team see Californians’ Constitutional rights and personal freedoms eroding right before our eyes! [...]

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How to Keep Your Resident Manager Professional – by Shoptalk Service Evaluations

Posted on 30. Mar, 2012 by .

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Many apartment communities strive to create a welcoming office environment in order to put prospective residents at ease.  From aromatic scents and freshly baked cookies to a warm faire, these comforts communicate a feeling of home.  However, when managers have an office connected to their apartment or even inside their apartment home, sometimes the lines between the professional office and an employee’s personal space can blur. [...]

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Three Big Reasons to Communicate with Your Tenants – by Drew DeMasters

Posted on 30. Mar, 2012 by .

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Your friends haven’t done anything new lately. Have you seen this phrase before?  Front and center when logged into Hotmail, it made me laugh and think really?!  If only you knew what my friends are up to.  And if Hotmail thinks you aren’t doing anything new, there’s a good chance you probably are!  Then I thought of how this relates to the way some manage their rental properties. [...]

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Do You Have Sad-isfied Residents? – by Russ Sandlin

Posted on 30. Mar, 2012 by .

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If you are to be effective in property management, you must continually strengthen resident retention.  With resident retention so important, why do so many sad-isfied residents tell me, When I was considering renting, they waited on me hand and foot.  Now that I’ve moved in, it’s my turn to wait for everything!
While there has been a revolution in service in our industry, many residents indicate it’s only Lip Service!  How effective are you in living up to commitments made to your residents? [...]

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IRS Approved QPRTs Are Like Legalized Stealing – by Edgar Saenz, Esq.

Posted on 30. Mar, 2012 by .

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A Qualified Personal Residential Trust or QPRT (pronounced CUE-pert) is a trust whose only asset is a residence.  The QPRT removes the value of a home from the estate and shelters appreciation.  It also provides asset protection associated with irrevocable trusts.
The homeowner transfers the home into a QPRT, continuing to live there throughout the term, which could be for any period he selects.  At the end of the term, ownership of the home passes from the trust to the children.  [...]

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Ways to Create Extra Apartment Revenue – Yield Management – by Jim Baumgartner

Posted on 30. Mar, 2012 by .

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It is no mystery that the past few years have been tough on the multi family industry.  We are seeing pockets of recovery while other regions are still suffering.  Despite overall vacancy issues, you often will see certain floor plans or views maintain high demand.  This is where market rate properties can boost revenue by practicing yield management. [...]

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Five Tips for Responding to Tenant Maintenance Requests – by Ami Noss

Posted on 30. Mar, 2012 by .

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Like it or not, once you and your tenant have signed a rental agreement, addressing any maintenance issues that arise will quickly become one of the most critical aspects of maintaining a good relationship.
You may occasionally need to educate an overly needy tenant on the types of issues they should attempt to address themselves before picking up the phone to dial your number.   However, in general, it pays to respond quickly to maintenance requests.  Not only will this earn you the good will of your tenants, it will allow you to fix small problems before they become much larger issues.
With this in mind, here are some tips for effectively handling maintenance requests: [...]

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Top 5 Mistakes of Beginning Commercial Real Estate Investors – by Ray Alcorn

Posted on 30. Mar, 2012 by .

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This article is reprinted here with permission from Creative Real Estate Online at http://www.creonline.com.

We’ve all done it. Anyone who invests in real estate is bound to make a clunker deal sooner or later. I’ve been in this business for over 25 years and have made plenty of mistakes, and I am always reminded that experience is what you get right after you needed it.
The popularity of commercial real estate has exploded in the last few years, and the media is full of war stories from new investors who find themselves in deals with problems.
In almost every case the cause is traceable to a lack of knowledge about a few simple precepts that form the ground rules of successful commercial investments. These are the basic practices that when used correctly will eliminate the most common causes of a bad deal.
My top five list of rookie mistakes: [...]

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