CategoryAdvice

What do Renters Want in 2019

What do renters want in 2019? How can you quickly fill vacancies and retain your current tenants? How do you make sure your property stays occupied all year long? Here’s the answer:  it all boils down to giving the tenants what they want. Renters in 2019 Want Technology We recently wrote a whole post on this. What used to be considered an amenity is now often seen as a necessity. Does your...

How to Screen Residential Property Managers

Choosing the right residential property managers for your business is one of the most important things you’ll ever do. Even though it takes a significant time investment, it’s more than worth it in the long run. Think about it- these are the people that will: Market your property’s vacancies Screen potential tenants Collect rent Deal with most maintenance issues Handle tenant...

TWiRP – December 31, 2016

A Growing Number of Millennials Are Entering the Housing Market Studies show that millennials (people ages 18-35) are making up an increasing share of the home buying market, particularly in suburban areas. A survey shows that 65% of the respondents are renting because of cost and financial circumstances. However, more of these millennials are starting families. Although 65% of this group is...

How to Start a Property Management Business

There are a lot of people out there right now trying to learn how to start a property management business. For some, it’s to provide a little bit of extra spending money. Others are looking to transition into a new career, and some just want to diversify their skills if their job is unstable. Whatever the reason, the strategy should be the same. This article will outline a basic (but...

TWiRP – December 24th, 2016

SLO Rental Inspections Under Fire The newly elected City Council in San Luis Obispo, California, are throwing darts at the rental housing inspection ordinance, in which rental homes are subject to routine city inspections on a three-year cycle to ensure they conform to health and safety codes. The policy was created because of concerns about dilapidated rentals, particularly in neighborhoods with...

A Few Skills All Property Management Experts Should Have

Let’s face it- the term “property management experts” is kinda vague. One person may consider a property manager an expert just because they have 2-3 years of experience. Others are of the mindset that a much more extensive time frame, such as 10-15 years, is necessary. Either way, there are a few key components that every great real estate manager should be able to do well...

TWiRP – December 17th, 2016

Federal Reserve Hikes Rates The Federal Reserve bumped rates by 25 basis points to between 0.50% and 0.75%, and are guided toward more rate hikes in the year 2017. Real estate economists are predicting a modest increase in home sale growth, but not as much as 2016. A mixture of caution and enthusiasm are advised in taking on the new year. Read about it in detail HERE.   Budget Friendly DIY...

Benefits To Green-Certifying Your Rental Property

Is green-certifying your rental property worth it? That’s the question many property owners and developers ask themselves when it comes to their rental properties. Getting your rental property certified might seem daunting. However, you might be surprised to learn that 54 percent of multifamily builders are choosing to build 15 percent or more of their properties green — and that percentage is...

Apartment Management Software Nightmares – Here’s How to Avoid Them

Apartment management software is supposed to make your job easier, right? The whole point is to help you schedule maintenance tasks, collect rent, check on work orders, communicate with investors, etc. But it doesn’t always work so well. Here are a few examples of things that can go wrong if you go with the wrong provider. Apartment Management Software Messes Up the Rent Payments  ...

Property Maintenance Companies – Do You Really Need Them?

Investigating property maintenance companies is something every landlord and property manager has to deal with at one point or another. Unless you’re large enough that you have an in-house crew, you’ll need to call on the experts to help with both minor and major issues now and again. But some people- especially DIY landlords- are reluctant to make the investment. They don’t see...

TWiRP – November 19, 2016

How Trump’s Presidency Could Impact Real Estate Markets After the recent election investors are curious about how Trump’s Presidency will affect real estate. Based on his current values there will no doubt be a short-term stimulus to the economy. A combination of tax cuts and government spending in the form of upgrading nation’s infrastructure and for national defense will provide a...

TWiRP- November 12, 2016

How a 28-Year-Old Plans to Upend the $81 Trillion Global Real Estate Investment Market In 2014 Ryan Williams founded Cadre now, Williams and friend, alongside a slew of a-list investors who have plowed $68.3 million into Cadre. Today, Cadre is an invitation-only platform that directly connects high-net-worth and institutional investors to commercial and multi-family real estate deals. This idea...

5 Alarming Signs of a Damaged Water Line

As a landlord or property owner; it’s your responsibility to ensure that everything in your property is operating smoothly. One of the most important parts of any house is the plumbing system — particularly the water lines. Some house owner’s often forget to have their pipes renewed. Failure to replace an aging or damaged pipe will lead to leaky pipelines or worse: flooding from a busted water...

With So Many Property Management Solutions to Choose From, Which One is Right for You?

Picking the right property management solution for you can be frustrating. While it’s tempting for many to manage the property themselves to save money, others will choose to hire someone to do it for them. And even when you do hire them, there are lots of companies vying for your business. There’s also the issue of how the property is managed. Is it with old-fashioned spreadsheets...

How to Filter through Apartment Management Companies for Your Business

Are you looking for apartment management companies to help take a load off your shoulders? Being a landlord is tough enough as it is, but if you’re also taking care of everything yourself, you’re adding more stress to yourself than you need to. For those on the hunt, I have good news and bad news. The good news is there are a lot of great, reputable companies out there that will...

The 5 Best Real Estate Books for New Real Estate Investors

Let’s face it- anyone who reads the best real estate books will have a huge advantage over people who just “wing it.” Even though reading may feel boring or useless to some people, it’s the easiest, least expensive way to learn from those who have already succeeded (and failed!) in this space. The problem is there are tons of books to choose from. Some are very specific...

How Much Should Property Managers Charge?

How much should property managers charge? Being a property manager is hard work. Flipping a property acquisition into a worthwhile investment is a skill most of us only dream of having. Setting a price to such an important skill set can be difficult. How Much Should Property Managers Charge? It Depends on Your Expertise When calculating your worth as a professional there are a few things to...

Average Property Management Fees – What Should You Expect?

If you’re done trying to manage your own property and doing a cash flow analysis, figuring out the average property management fees for your area is important. Even though these fees vary from PM to PM and firm to firm, there are a few things that tend to stay consistent throughout the industry. Here’s what to expect. Average Property Management Fees for Setup This is the first kind...

Rental Management Services : The Duties of Rental Management

Rental management services are a combination of all the large and seemingly insignificant tasks that go in to managing rental properties. There are various ways a property owner can process these services, such as, property management software, property managers, or a property management agency. Regardless of who is delegated to complete these tasks, they are all necessary to efficiently managing...

Full Service Property Management- Here’s What to Expect

Full service property management runs the gamut. Essentially, they take care of everything regarding the property, and should only come to you (as the landlord) with status updates and major issues. To be more specific, here are the services to expect: Full Service Property Management- Tenant Mgt. Your property manager should take care of everything regarding the tenants. Assuming you don’t...

How To Hire a Lawn Care Service : Keeping the Grass Greener on Your Side

Knowing how to hire a lawn care service for your properties is one of those contracting needs property owners need to consider. Thankfully, due to its distinct nature, lawn care maintenance isn’t as complicated as say electrical, pluming or roofing. However, that isn’t to say lawn care services aren’t a crucial part of any real-estate operation, because it certainly is. Hiring a lawn care service...

How to Find a Property Manager Worth Hiring

For most new landlords, figuring out how to find a property manager is one of the most important things they can do. Even though there are a lot of good ones out there, many don’t have the type of experience or personality necessary. No worries- we’re here to help. By the time you’re done reading this article, you’ll be better equipped and know where to look to find the...

Real Estate Property Management : The Methods of Management

Real estate property management is an umbrella term for the various ways property owners manage their properties. It can include the maintenance of finances, utilities, future investments, and the acquisition of revenue from your investments. Though management covers those core aspects, there are multiple methods of management. Real Estate Property Management Software Real estate property...

Good Property Management – Here’s What it Looks Like

As someone who moved 10+ times within just a few years, I know what good property management looks like. That said, I also got a taste for bad property management. Here’s what the good guys do. Good Property Management Builds Relationships When I would walk into my apartment complex, I’d like for the property manager to know a bit about me. What I do, my wife’s name, maybe my...

Property Management Apps- Why Every PM Company Needs One in 2016

Property management apps are uprooting the way things are done in this industry. Just a few years ago, everything had to be done via laptop in the field (although you probably didn’t have internet,) or started with pen and paper and transferred to a computer later. The ability to always stay connected with apps is changing the game. You can do everything from the road now, giving you much...

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