Property Management from A-Z

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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Property Management from A-Z: P

March 15, 2010

Patience, Preventative Maintenance, Pets, Policies & Procedures, Photos, Profit Patience – Always outline in detail what you want done with the property and in the lease.  When tenants ask what seems to be stupid questions be patient and happy that they are asking you first..educate your tenant. Preventative Maintenance – Do annual checks for batteries [...]

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Property Management from A-Z: O

March 12, 2010

Organization Even if you have only 1 rental you need to be organized and have a system that keeps all your records in order.  I have a binder and it has the following tabs: Summary – 1sheet with tenant contact info, rental amount, security deposit amount, recent maintenance done Lease – lease and application, credit [...]

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Property Management from A-Z: N

March 10, 2010

Notices:  3 day, 30 day, 60 day, 90 day, 24 hour People often get confused over a variety of notices and when to use.  I will outline the ones mentioned above. 3-Day to Pay Rent or Quit This notice is used if you haven’t received the rent by the due date.  You post a 3 [...]

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Property Management from A-Z: M

March 8, 2010

Management – Time, Money, Maintenance, Relationships Management – Time This is extremely important if you are going to manage your properties yourself.  Prospects can gobble up and waste your time.  The biggest tip I can give all of you is to make applicants, tenants fit your schedule.  I don’t do open houses for showings – [...]

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Property Management from A-Z: L

February 26, 2010

Law, Lease & Listen Law – bottomline follow it.  There are lots of books out there and professional associations here are some links: California Apt Assoc. Become a member.  This is a great organization.  They regularly have classes on legal matters, Fair Housing Law, Leases and Addendums to download etc. www.caanet.org Institute for Real Estate [...]

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Property Management from A-Z: K

February 24, 2010

Keys – I am often amazed at how many property owners don’t want to rekey between tenants.  Here is my argument for doing so. You have no idea how many keys are floating around or who has them You are assuming a huge liability if anything were to happen to new tenant Tenant can’t get [...]

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