Looking for ways to bring more income to your property? Have you looked to ancillary income, to fill the gap? Cruise lines do this the best. The cost of a cruise is very reasonable, yet nine drinks and an island excursion later, you’ve suddenly padded their pockets with a lot of additional income. Read More→
Empty units are easy to fix, you send your maintenance tech in with a key and take care of all that needs to be done, at whatever hour works for them, so that the unit is ready to show and lease when the time comes. But occupied units can pose a problem. They may have asked for the repair but you still have to schedule with them. And consider their side of things, they need their sink repaired but a strange man coming in to fix it is still uncomfortable. It is not like they were able to hire a plumber and do their own research. You are sending in a tech that they may or may not know and they just have to trust that you fully vetted them. Read More→
You bought your first rental property! Now what? Did you know that if you own four units or more you are bound by fair housing laws but that three or less and they do not apply? What about the other laws and regulations, both local and national that will apply to you? Does your city or county require inspections or registration? On top of laws and regulations, who do you go to for repairs or advertising? Where do you go to find this information? A new rental property can be a great investment but you have to be able to maintain it. Read More→
How do you feel about smoking? Many states have banned it in bars and restaurants and now it seems that smoke free apartments are becoming more and more popular. Is this a new trend in apartment living?
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Regulating your rental property is an important part of your business. You want to protect your property while also keeping some peace between tenants (tenants that get along don’t move and don’t cost you money on the turnover). But how do you establish rules and regulations in your building/complex? Read More→
An easy way to make sure your building stays protected is by having the right tenants, but how do you select the right tenants? A one time meeting to show them the unit, or a few phone calls simply isn’t enough to determine if they will be good tenants or not. To help pick out the right tenants for your building create a criteria and require an application so that you can check out their qualifications. Read More→
Everyone loves the holiday season, the time off, the parties, the general feeling of excitement that comes with along. You have probably gone back to work and are dreadfully back into the same routine. Read More→
It is that time of year for Owners, to analyze your property’s performance from 2012. By now you have reviewed your year-end financials, and after seeing losses the last couple of years, you should have seen an increase in your NOI in 2012. Great News! Read More→
At a time when natural disasters seem to be around every corner many of us want to know what we can to do help. I cannot take the time off work to go physically help, and I can donate $10-20 dollars but I’m on a budget and don’t have much disposable income, what else is there. Read More→
Social media is a big deal. People spend a lot of time checking in on their friends and updating their own information. For many it is the first thing they do in the morning and the last thing they do at night. The phone sits by the bed so they are never far from a connection to friends and family. But more importantly to you, a business, they use it to express their feelings about companies. Whether they comment directly on the company’s page (if they have one) or comment on their own page for friends to see, they let people know what they think, especially in bad experiences. Read More→
