Property Management Blog

Thursday, December 31, 2015

Property Management Blog

Inheriting the Tenant

When an investor purchases a property with an existing tenant, the first thoughts are that rent will immediately come in and there will be no vacancy period. This means initially avoiding higher maintenance costs, leasing fees, and advertising costs. Of course, everyone hopes this is the ideal tenant and the rental agreement has all the b...

Thursday, December 31, 2015

Property Management Blog

Actions Speak Louder than Words

This is an age-old saying but one that can apply to a landlord/tenant relationship. Many property owners do not realize they can alter a contract by their actions. Often property owners are reluctant to issue a Pay or Quit Notice to a tenant, but then when rent is late, it is important. The following story is true, although the names are ...

Thursday, December 31, 2015

Property Management Blog

The Personal Touch

The economy definitely has mixed reviews - interest rates are still low, the stock market is working toward recovery, and many people throughout the country have been working tirelessly to help unemployment, feed the hungry, and aid disaster victims. There is record high unemployment, record home foreclosures, battles on the health care i...

Thursday, December 31, 2015

Property Management Blog

Beware of Advertising

You may think advertising is a simple issue. Just put together a few descriptive words and place an ad in a newspaper, on a bulletin board, or on the Internet. However, advertising becomes complicated when it leads to a case for discrimination! The Fair Housing Laws set the guidelines on what is unacceptable in advertising. Property owner...

Thursday, December 31, 2015

Property Management Blog

Credit Report not Enough

Property Management is an ever-changing business and to make it a successful venture, ongoing education is a requirement. Knowledge is the key to creative marketing, working with tenants, providing the right documentation, understanding landlord/tenant law, and more. Many people think tenant-screening means only obtaining a curren...

Thursday, December 31, 2015

Property Management Blog

Keeping Investment Records

Keeping complete records of your investments, from the beginning to the end of ownership, is simply good business. A major reason for maintaining accurate records is to calculate your gains or losses when you do sell the property. If you do not have all the documentation to back up your claims to the IRS, and you do have an audit, you...

Thursday, December 31, 2015

Property Management Blog

Turning Down the Applicant

Emergencies and disasters happen and most of the time they cannot be avoided. Webster terms an emergency as an unexpected situation that requires prompt action and a disaster as a grave occurrence having harmful results. In the property management world, we see emergencies as loss of heat, a gas leak, water leak causing flooding i...

Thursday, December 31, 2015

Property Management Blog

Is Your Property Green?

Going Green is now the popular thing to do to help save the planet and a productive thing for everyone to do. It might surprise you that it could also help improve the bottom line of your investment property as well. By improving or adding a variety of maintenance items, you can: 1) save dollars during vacancies 2) use some as marketing i...

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