Because sometimes insourcing is counterproductive. Property managers need a lot of people on their team. At the minimum, an effective property manager needs to be able to prep a new home to make it rent-ready, get a tenant into the home, collect rent, evict problem tenants, provide maintenance of the home through both occupied and […]
Well, you can, but it’s a REALLY bad idea. So you just moved into one of our many rental properties, and while you’ve gotten the furniture moved and the basic utilities established, you’re not sure that you remembered all the little details. No problem! Here’s a quick checklist of things that people often forget to […]
One heck of a lot more than the guys who put out ads like this: Sometimes, it’s easy for a property manager to forget that there are home investors out there who simply don’t know why they might want to hire a property manager. If you own an investment residence — or you’re planning on […]
Always listen to experts. They’ll tell you what can’t be done, and why. Then do it. -Robert A. Heinlein In the first part, we talked a bit about how modern tenants really do expect to be treated as individuals with unique needs and value — and how a landlord needs to be willing to do […]
Specialization is for insects. -Robert A. Heinlein It’s almost impossible to estimate the impact that the Internet has had on modern tenants these days. We are, as a nation, more connected, better-informed, and more willing to tackle problems — as long as there’s a how-to guide on YouTube or About.com. Heinlein’s quote about specialization is becoming a […]
Step One: Call a Lawyer and Ask Them about Everything You See Here — We’re Not Lawyers, and this is Not Legal Advice! In general, if you have a problem with your rental property that causes it to no longer meet the state’s basic health, safety, and structural standards, it’s the landlord’s job to fix […]
The Answer Is Not ‘Find Buried Treasure Under It.’ Sorry. One of the often-repeated lessons in the thousands of “Property Investment for Beginners” websites, seminars, classes, and other material out there is the simple precept Don’t Invest in Low-Income Neighborhoods (or some variation on that theme.) But like every rule in life, there are exceptions […]
“My dog ate my rent payment!” – soon-to-be-evicted tenant As a property manager, one of your most regular jobs — literally regular, like clockwork — is collecting rent. Usually, every tenant you oversee has signed the same lease agreement, which means that they all owe their rent on the same day, with the same length […]
Make sure you read your lease before taking this advice off-hand — many leases have unusual clauses that may make some of these suggestions non-viable under those specific leases. Does renting mean you can’t make your house a true “home?” Not necessarily. While you should be cautious when making home improvements, you can make some […]
“How many licks does it take to get to the center of a Tootsie Pop?” — Sample Question not appearing on this list. If you’ve been following along, you know the drill by now — we’re talking about questions that you should be asking a potential property manager before you sign them on to manage […]