Property Management Blog

Working with the Market

As they say - all things change. The rental market swings up and down depending on the interest rates and the sales market. Different markets can lead to more properties on the market for rent. If there are more vacancies available, owners simply need to utilize other tools to keep their units occupied Be Competitive with the...

Determining Rents

Setting the rental value can be a tricky process. It is an art and a science combined, with many factors to consider. Even when a property manager and/or owner carefully derive a rental price, it is subject to change if rejected by prospective tenants. Supply and demand One major underlying factor determines rent - supply and dem...

What if the Tenant Quits?

It is the first of the month and the rent is due. The rent does not come in and a notice to pay rent or quit is served. The majority of tenants pay the rent. But what if the tenant decides to "quit?" The first reaction is usually anger and outrage on this unfair turn of events because the owner will not have the rent and there is a hi...

Mistakes Investors Should Avoid

Many times tenants offer to perform maintenance on properties. While it may seem to be an excellent idea at the time, promoting thoughts of saving money, and an easy repair - it can lead to many problems. Landlords need to ask themselves why the tenant is offering to absorb the time and expense of the work. There are tenants who a...

Thinking of Buying an Investment

With the recent dip in the sales market and the increase in foreclosures, buying an investment property may be once again a good choice for your financial portfolio. There are items you will want to review before making a purchase. Compare property values and rents Check out the area property values and compare them against the pr...

Professional Services for your Investment

One definition of a property manager is someone who manages real estate for another person for compensation. There are many duties involved, which include marketing the property, screening tenants, collecting rents, maintaining the property, handling tenant problems, and much more. On certain days, managing property can mimic a juggler ke...

Deciding on Pets

Most owners shudder when you mention pets. To be perfectly honest, this is an understandable reaction since there are times when tenants allow their pets to cause considerable damage. However, when facing the issue of pets, property managers and/or landlords often need to use a logical approach. Saying “no” to a pet ri...

Renting to the Handicapped

Fair Housing is simple - do not discriminate. While this may be a basic principle, it is often not easy to follow, particularly in the area of handicapped or disabled persons. Many landlords often do not know or understand the legal requirements when it comes to renting to handicapped tenants, which can lead to costly lawsuits. Courts do ...

Mold, a Critical Issue

Mold has been around a long time - literally, as long as there have been living organisms. Therefore, it may seem strange that it has become such an important and potentially dangerous issue. However, mention the possibility of the existence of mold to any reputable Property Manager, it gains immediate and urgent attention. The damages aw...

Beware Red Flags

As experienced property managers, we have learned to recognize certain warning signs – or “red flags,” when marketing properties and taking applications. Here are some we encounter while showing properties: The applicant is willing to pay more than the offered rent and security deposit. They will pay eve...