AuthorKurt Kroeck

1099 For Property Managers

Earlier, we talked about landlords and tax time, but did you know that there are sometimes special tax issues and situations for property managers? It’s that time of year again- end of the fiscal year and if you’ve been paying people to do yard work or take care of other things around the properties, odds are, you need to send out Form 1099.Though we, or anyone else is unable to give you tax or...

Joint and Several Liability

Adding a joint and several liability clause to your lease is one of the most intelligent, yet lesser known things you can do to protect yourself. What this means is that if you have a house property where several tenants live, or even an apartment with a few tenants in their own bedrooms: the rent share agreement they have does not apply to you. It is a one for all situation that will save you a...

Avoiding The Bad Tenants

It’s the second week of the month and you find yourself yet again hearing why that particular tenant is late on the rent. You’ve been dealing with the city because every time they don’t mow the lawn for weeks, you get the notice. You’ve been here before and you know that the there will be huge mess being left for you, in addition to that security deposit being seen as last months’ rent.  You’ve...

Planning a Renovation

All too often, the money spent on renovation offers absolutely no return on investment. The reason for this is simple: most people believe that they need to make grand, sweeping renovations in order to increase appeal, and by virtue of that, improve the return on investment. This harkens to the “you have to spend money to make money” mentality, but when it comes to changes to a property, that may...

Environmentally Friendly Management

Though there are things you can do to green up your property and be more environmentally friendly- there is one way that you can let your prospective tenants know you care is to become certified.

Four More Property Promotion Tips

From Craigslist to Youtube, property managers now have more ways than ever to promote their vacancies. If you’ve been wondering how to better get the word out, or maybe just looking for some new ways to promote- odds are you’ve got all the free tools you need. Here are four more great tips for getting those units rented:

5 Things To Check Before You Sign a Lease

Of course, you apartment search is a lot easier now with sites like Trulia and Zillow lining things up for ease of searching. There’s only one thing that these services cannot do for you: it can’t go to the apartment or the house and check it out for you. There are also aspects of the place that most property managers just aren’t going to put in the listing, but you might not think to check. Here...

Property Management Marketing

We’ve talked a little bit about how to list your properties, and there are a few things that you can do to make things even better. One such thing is to create a map that highlights local attractions. If you look at most rental listings, people have no problem with pointing out the close proximity of their properties to different shopping, schools, restaurants and other things that would appeal...

Should You Pay Attention To Rental Bills?

In some areas, the utility company is a part of local government. What this means is, if one of the bills for that property goes unpaid, you could be subject to penalties not unlike forgetting to pay your taxes. In areas where things like water and sewer are provided as a part of the city government, if your tenant doesn’t pay: you could be the one in trouble. In some cases, an unpaid utility...

Avoiding Discrimination Based on Family Size

You may think that discrimination means that you can’t say certain things, or you can’t deny someone a rental for things like race, gender, and other obvious issues. However, did you know that discriminating against someone with children is also an actionable offense?

How To Create a Craigslist Rental Listing

You probably already know that using Craigslist, Zillow, and Trulia are effective ways to advertise your rental listings. However, how you present your property on there will make a big difference. You want your ad to be effective in attracting the kind of tenants you want, while also saving you some time in the prescreening process.

Tenant Screening Tips

There’s an old rule of thumb out there when dealing with landlord-tenant interactions. That rule is the 80/20 rule and many of you out there are reading this nodding. You know what this means: it means that only about 20% of your tenants will give you about 80% of the hassles. Everyone else is awesome, but there’s always that small group that can really make everything a pain.

Fair Housing Trends

Each year, the National Fair Housing Alliance compiles a report outlining the issues of that year. The 2013 Fair Housing Trends Report has just come out and indicates that complaints are actually up by about 5%. In 2012, the report shows that there were about 28, 518 complaints total. Additionally, this report does include those that were investigated by the US Department of Housing and Urban...

More Housing Trends On The Rise

The US Census Bureau reported that the US population went up by about 4% in the years between 2006-2011. During that time, though, there was only a 3% increase in households- this broke down to a 2% for family households, but a 5% growth in non-related households. That would seem to indicate that roommates are a growing section of the market. This definitely has some bearing on the recent boom in...

What is Normal Wear and Tear?

Whether you’re a budding property manager or a tenant, you may have wondered what is normal wear and tear? Steven R. Kellman, a real estate attorney and consultant writer for The Washington Post’s Rentals Section addresses this very question in a 2004 Q and A. Though no blog can be taken as legal advice, the laws on this haven’t changed much since then. He states that the primary factor is going...

Eco Friendly Options For Rentals

If you’ve been considering upgrading or repairing your properties, it’s a good idea to have a look at how environmentally friendly it is.  There are quite a few small, inexpensive changes that you can make that will green your buildings and actually, save you money in the long run. There are a variety of different roofing things that you can do.  If you need to re-shingle, now’s a good time to...

How To Estimate Moving Costs

If you don’t know how to plan for a move, moving costs can really add up quickly. But there are a number of ways that you can plan your move, estimate moving costs, and learn to consider the costs before you pack up. Knowing what to expect can really help you not only set a moving budget, but keep to it. If you have ever called a professional mover, you know that they can give you an estimate...

More Programs For Veterans

A recent count by the US Department of Veterans’ Affairs (VA) showed that as of January, 2012, there are at least 62,619 homeless veterans. As we’ve mentioned before, there are some resources that property managers have access to that can help. 13% of all the homeless adults in the US today are veterans, and to put that into perspective for you- when you consider that veterans on the whole...

Builder Confidence Stable in Housing Market

Uncertainties in the market are not causing issue with builder confidence, but also, not increasing it, the National Association of Home Builders’ (NAHB) index reveals. This same market uncertainty has been creating tensions with both builders and buyers for some time now, but recently has remained roughly the same. As of last month, the trend was downwardly revised at a level of 54.

Holiday Ideas

The holidays give us all a fantastic opportunity to build community in our properties and in the towns where we live. Most properties out there have some sort of charity drive or holiday celebrations. There are a handful of holiday ideas that your property management can engage in not just your residents but the community at large.

Single and MultiFamily Rental Markets Looking Good

According to Jones Lang LaSalle, or JLL, sales volumes on multifamily housing in the United States shot up about 47% from the months of July to September after a dragging second quarter. Sales volumes on multifamily housing hit about 25 billion dollars during that time. Researchers cite the housing hangover, population growth in the empty nesters and Echo Boomers, and the rise in households...

Should Your Property Offer a Business Center?

Smartphones, tablets, and other mobile devices have changed the way that people do business. Though many people have their own home computers and other technology, offering a business center on property is often a smart move. However, with the boom in mobile technology, people are reconsidering the way they set these business centers up.

Communicating With Tenants

When you think about your tenants and the way that your property management business runs: do you think that your rental experience is going smoothly or does it seem like you’re always dealing with one headache after another? When you manage and rent properties, you know that you need certain things to be in place so that everything goes smoothly. Communicating with tenants is one important task...

Moving Tips For College Students

For college students, finding ways to save money while learning can be very important. Though dorm life can help reduce cost, it’s got its downsides and there are still times of year when you’ll need to find a place to go. If you decide you want to find a place nearby, rather than head back to the parents, here are a few moving tips you can use to save money on rentals as a college student.

Renting out a Room

An old trend from the late 1800s and early 1900s is again resurfacing. Census experts say that the reason for the resurgence in individual room rentals is a wobbling economy and high unemployment rates. In fact, according to statistics, between 2008-2010, 7.3 million people were unrelated adults living in someone else’s home. If you’ve been thinking about smaller scale rentals like this, such as...

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