Business Systems

Whether you are managing one rental or several you have to treat the property as a business. It is no longer the family home it is an investment that needs to be managed as a business. In this section I will share some of the business systems I use personally and in my company. I look forward to hearing about the systems you use. Why recreate the wheel!

Property Management from A-Z: Z

April 16, 2010

Well I am on Z and covered all topics related to Property Management through the alphabet and then some.  Hope you have found the topics timely and of interest.  Zero Sum Gain (break even), Zap Your Energy, Zombie, Zen, Zest for Life Zero-Sum-Gain – break even is at least where you want to be with [...]

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Property Management from A-Z: Y

April 14, 2010

Yearly Planning, Year-End Planning Yearly Planning – this should be done before the new year begins.  It should also be reviewed quarterly.  Again, this is your business, your investment.  What should be part of your yearly-planning?  Any turnovers coming up, what maintenance needs to be done this year?  Have a budget?  Taxes, Insurance, Mortgage, Utilities [...]

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Property Management from A-Z: X

April 12, 2010

Xerox and  X-check Xerox – copy documents, keep copies of all communication whether on your computer or printed and put into the file.  The main point here to document, document and document.  Have a filing system for your documents so you can find what you are looking for later.  Copies can always be sent to [...]

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Property Management from A-Z: W

April 7, 2010

Wealth, Waste (time & money), Wear & Tear, Web Wealth – Owning investment property is an excellent way to build long term wealth.  As long as you manage your property as an investment and business your chances of building wealth will be good.  Many people don’t treat their rentals as an investment and therefore actually [...]

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Property Management from A-Z: T

March 29, 2010

Taxes, Turnovers, Time Management Taxes -  due Nov 10th and Feb 10th but most pay in Dec and April before the deadline.  April taxes are tough because personal taxes are due as well.  The most important thing to remember with taxes is to make sure to build up the reserve monthly.  When property values drop [...]

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Property Management from A-Z: S

March 24, 2010

Security Deposits, Screening Applicants, Showings, Systems Security Deposits – this is always tricky.  I was just speaking with someone yesterday that was having a problem with the parent of a student they rent to and I asked how much was the security deposit – there was none!  I also recently picked up a 4-plex to [...]

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Property Management from A-Z: R

March 22, 2010

Reserves, Roommates, Rental Rate, Red Flags, Relationship Reserves – this is very important for investors, and property owners.  You never know when the roof will leak, the water heater will go out or some other unexpected maintenance item will pop up.  I keep saying this again and again but you need to treat your rentals [...]

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Property Management from A-Z: Q

March 17, 2010

Question & Qualifying Applicant Question – You as Owner always want to question and get more info not just from tenant when they call with maintenance emergency – ask lots of questions to understand situation but question your insurance agent annually to make sure your investment is property insured.  Be pro-active in staying on top [...]

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