Featured Property Manager Of The Week - CitiMark Properties

CitiMark Properties - Kettering, Ohio

CitiMark Companies has provided quality real estate advisory and investment related services, since our founding in 1994.

CitiMark Properties' objective is to provide property management for our holdings; property management for investors; investment brokerage and consulting; and capital for our acquisition group. This is best achieved by rapidly responding to our client and customer's needs in a cost-effective manner.

Citimark Properties is based in Kettering, Ohio and manages multi-unit residential properties as well as commercial and community associations. They also service the Dayton Ohio area.


Find more Ohio property management companies

Community association management

Community association management companies manage the common property and services of condominiums, cooperatives, and planned communities under the direction of the board of director of a homeowner or community association. They manage the community as a whole and do not typically manage individual units within the community. But they do take on the responsibility of enforcing the rules and regulations governing the association on any owner or renter within the community. These planned communities can be small to as large as hundreds to thousands of homes with many amenities.

Some duties of a Community Association Management teamUsually hired by a volunteer board of directors of the association, they administer the daily affairs, and oversee the maintenance of property and facilities that the homeowners own and use jointly through the association. A community association management team will prepare financial statements and budgets for the community as a whole. They interact with homeowners and tenants on a daily basis, and can help resolve complaints amongst resident. Collecting association dues or assessment payment from property owners is a common duty of a community association management company. They will also assist the board of directors in making sure everyone within the community is in compliance with association and government rules and regulations.
In addition to administering the associations’ financial records and budget, community association property management companies may be responsible for hiring and coordination of contractors for any major renovation or repair to exterior buildings and common structures. This could include maintenance of community pools, golf courses, community centers, and for the maintenance of landscaping, street lighting, snow removal and parking areas. Community association property management companies also may meet with the elected boards of directors to discuss and resolve legal issues or disputes that may affect the owners, as well as to review any proposed changes or improvements by homeowners to their properties, making sure that they comply with community guidelines.

Things to look for in a community association management company:

1) Proven track record of managing planned community properties
2) Years in the business could show reliability and a proven track record.
3) This is a very specialize facet of property management and requires specific qualifications and training.
4) Is their current portfolio’s within budget and running smoothly, or are there major issues such as financial problems or rundown communities under their management.
5) Accurate bookkeeping and records.
6) Timely response in dealing with issues that may arise.
7) Enforcement of Covenant, condition and restrictions (CC and R’s) for the community they manage.
8) Enforcement of HOA dues and assessment collections.

These are just a few important criteria’s to gage the success of a community association management company. A thriving planned community will be in harmony, beautifully aesthetic and an asset to all that live there as well as for the surrounding neighborhoods.

Find a community association management company for your community.

Featured Property Manager Of The Week - Classic Property Management of Santa Clarita

Classic Property Management of Santa Clarita - Valencia, California

Here is a quick snapshot of the property management services we offer:

Intense tenant-screening process
World-class lease contracts and addendums
Flexible property showing schedule (to quickly get a renter into your property)
Top-notch team of vendors (providing quick, affordable maintenance)

Our services our broken into two areas:

Rental Services-Helping you find, screen, and place renter
Management Services-Handling the day-to-day tasks of managing your property

Classic Property Management manages residential properties in the Santa Clarita Valley, California area.

Find more California property management companies

What Will Help My Property Rent Faster?

We know you are anxious to get your property rented and we are often asked what you can do to put your property in the most favorable light with prospective tenants. Here is what 25 years of experience showing properties has taught us!

1) Colors- The color of paint and wallpaper are a big issue with most tenants. Anything other than neutral colors is much harder to lease. Very bright and/or dark colors only appeal to a small percentage of the population. This is especially important in the major living areas of the dwelling such as the living room, family room and kitchen. Tenants have to match furniture to their new home and the odds of them picking your colors are relatively reduced unless their items will reasonably match the current color scheme.

2) Cleanliness- If a property is not clean inside and out, it is almost impossible to get rented. Please note the following when preparing your property:
a. Items should be removed from the basement, attic, and garage areas. Tenants will want to use those areas to store their own items.
b. Cupboards, countertops, appliances (inside and out) and flooring should be wiped down and clean.
c. Carpeting should be vacuumed and free of stains, holes, and marks. Severely worn carpet must be replaced. There are many properties available with new carpet.
d. Walls should be free of fingerprints, marks, dirt and holes.
e. Front and rear yards should be free of debris and not overgrown.

3) Working Order- Your property and appliances should be in good working order. Not only is this imperative to tenants, but it is required by city codes and rental standards. Locks should work, doors should open and close and be free of holes, windows must be able to be opened and closed as well as lock, screens should not be missing and steps should be usable. The stove and refrigerator must be in working condition.

We are in the most competitive rental market we have ever experienced. Due to the housing crisis and the local economy, there are more rental properties available to interested tenants. Properties that don’t show very well usually get passed over because there are too many available that will show well.

Remember, if your property doesn’t show well, you are probably
going to attract the wrong type of tenant.

We aren’t suggesting your repaint your entire house or go overboard remodeling. A few small improvements can go a long way in putting your property ahead of everyone else in the rental market.

Author: Service Specialties, Inc.
Service Specialties, Inc.. located in Mt. Clemens, Michigan was founded in 1981 and is owned and operated by Catherine Bott (President). Service Specialties, Inc. has managed thousands of properties over the years. Our services currently cover single-family homes, multi-units of varying sizes, apartment communities, office, retail, and industrial buildings as part of our portfolio of properties.With over 25 years of experience and expertise in the management and real estate business, we are able to provide our clients with programs that exceed their expectations, maximize the value of their investment, and present information that gives them a thorough understanding of their financial position in their properties.

Our Mission Statement
Provide first class property management services to our Owners and Tenants so that our clients' property values are safeguarded and enhanced.

Maintenance of Home Rentals

A Major Headache For Owner And Property Manager

This is a manager" biggest problem. Tenants want service as they are paying 1/3 or more of their budget for housing and they want things fixed. The owner complains when they get a bill because no one likes bills. The fact is maintenance is here to stay and must be addressed if you want a successful rental business. With that said, let me discuss in-house maintenance vs. outsourced contract services (handyman, contractor, supplier). Experience has taught me that contract services are recommended over employee services/in-house maintenance. Advantages include locking in costs and avoiding over billing.

Employees must be kept busy and what I have found as I have used in-house services. The staff are usually not as competent and usually are salaried. A independent contractor can't afford to take coffee breaks or engage in water cooler talk. Their time has to produce income as overhead is on-going. Another advantage is some items need to go to bid. A contractor is working for a profit and concerned with efficiency. An employee just doesn't have these same concerns. It is a balancing act for the manager deciding what to maintain and what not. Some owners don't want to spend any money; others insists that we keep their property in top shape. Emergencies must be responded to in a timely manner to keep damages to a minimum.

If it is a habitability item, we and the owner have a responsibility to attend to correcting the problem.
The definition of habitability is:
1) Effective waterproofing and weather protection of roof and exterior walls, including unbroken windows and doors.
2) Plumbing or gas facilities which conform to applicable law in effect at the time of installation and maintained in good working order.
3) Water supply approved under applicable law, capable of producing hot and cold running water and connected to a sewage disposal system.
4) Heating facilities which conformed to applicable law at the time of installation, maintained in good working order.
5) Building grounds in clean, sanitary, and free from all accumulations of debris, filth, rubbish, garbage, rodents and vermin, and all areas under control of the landlord to be kept clean, sanitary and free from all accumulations of debris, filth, rubbish, garbage, rodents, and vermin.
6) An adequate number of receptacles for garbage and rubbish.
7) Floors, stairways, and railings maintained in good repair.
8) One working phone outlet is required per unit.

The law states that a landlord must maintain habitability at all times. Cooling is not required. Excluded are damages causes by tenants. It seems property managers receive their biggest maintenance requests on the first of the month. This is when the rent is being paid and it is human nature to ask "What have you done for me lately?" A big job for the property manager includes sorting out legitimate requests regarding who is responsible then arguing with everyone about it. However, the toughest job of all is listening to the tenants complain about lack of service and later to the owners after they received the bill. It goes with the territory. The bottom line is that no matter who is responsibility, houses require maintenance.

New investors and their advisors never allow enough for maintenance of their rental.
What is enough? It depends on the age of the rental. A study done by others, state to allow about an annual average of $1300 annually for a single family home.
1. Stuff happens and stuff wears out. You can delay some maintenance, but you can't avoid it and eventually it will affect income.
2. It's cheaper to maintain a building than it is to repair it.

A big help in the operation of the home is operating manuals. Not all appliances operate in the same way. Very few people have been educated about home operation. Especially young people. We cannot expect people to operate a strange home, without some basic instructions. If they are coming from an apartment, most things were taken care of for them. We have to point out that on-site maintenance is no longer available. What are priorities? FLOOD, BLOOD, FIRE, AND HABITABILITY ITEMS, everything else is secondary.
If a request is of a secondary nature., everyone should be patient with their manager as with everything else in life, priorities come first. Another area that needs attention. IT IS CALLED THE BROKEN WINDOW THEORY. This means that ignored small disorders such as broken window, graffiti, abandoned cars, and unkempt yards, lead to larger disorders. We encourage that these items are handled ASAP.

Home Maintenance Warranty Programs
There are home maintenance warranty programs available offered by several companies. Service varies between companies, but it can be good insurance for a major repair. Other information needed regarding how old is the home? Builders have a 1 year warranty if a new home and a 10 year structural warranty. There is usually a roof warranty. If you use anyone other than the original contractor, the warranty may be voided. We need to know the builder and date of installation then we can usually arrange for warranty service. I hope this has enlightened you regarding home real estate investments.

My name is Lambert Munz and I have been licensed as a Real Estate Broker for 44 years with the CA Department of Real Estate. I currently am President of Arbour Real Estate Management, Inc.. Background was as a commercial broker. Currently a property manager and have been for 27 years. We offer residential and commercial management services.
I hold two designations - RMP Residential Management Professional and MPM Master Property Manager. Awarded by NARPM National Association of Residential Managers.
Past President of NARPM Sacramento chapter.

Learn more about property management services

Featured Property Manager Of The Week - Sunray Vacations

Sunray Vacations - Kissimmee, Florida

Short Term Vacation Rentals and Property Management Services

Established in 1991, Sunray Vacations has large selection of homes for short term rental, conveniently located to local attractions. They specialize in managing vacation rentals in the Kissimmee, Florida area.

Do you own, or are you planning to buy a vacation home in the Kissimmee area? We can manage and maintain your property as well as place bookings in your home to offset your expenses. Our Property Maintenance Services Include:

Pool Maintenance and Cleaning
Lawn and Landscape Maintenance
Pest Control
Exterior Pressure Washing
General Repairs

Find more Florida property management companies

10 Top Reasons to Hire a Residential Property Management Company

Once you have invested in a rental property, the responsibility of maintaining and running the property can quickly become overwhelming. For many Owners, the logical solution is to hire a Residential Property Management company to oversee their rental property. But is this the right decision for you? Here are the top 10 reasons to consider why you should hire a residential property management company and how the benefits far outweigh the costs.

1) Rent Collection: A professional residential property management company ("PM's") have systems and strategies to improve rent collection and on-time rent payments. This allows you to ensure swift and consistent rent collection. Quick and consistent rent collection is absolutely critical in this real estate market where good cash flow can mean the difference between success and failure as a real estate investor.

2) Local Knowledge of Rental Rates: PM's have extensive local knowledge of rents and the ability to determine the highest rental rate possible for your property. With the internet and the ability to do large scale searches for rental properties, potential tenants know if your property is overpriced, even by $25. Overpriced properties sit empty while other properties get rented. Knowledge of rental rates is a key factor to fast rentals and quick cash flow.

3) Tenant Screening: A PM requires a detailed written application from each adult with photo identification. Additionally, PM's will run criminal, social security and public notice (bankruptcy or judgments) searches to determine if the application is accurate. PM's will also call past and present employers, landlords and other references. PM's have set requirements and standards for accepting or declining an applicant and thereby ensuring you comply with fair housing rules and other local and state regulations.

4) Marketing Expertise: PM's have years of experience in how to best market your properties so they are rented in the quickest time possible. PM's use both offline and online marketing to maximize your properties' exposure and find qualified tenants quicker. Most PM's utilizes 10, 20 or even 30 different techniques to rent a property quickly which reduces your carrying cost of a vacant property.

5) Property Law and Regulations: PM's have extensive and up-to-date knowledge of property laws and regulations and will assist you in making sure you are in compliance with your local, state and federal rules and regulations. These rules and regulations include complying with fair housing regulations, the Americans with Disabilities Act and other applicable local, state and federal laws. Avoiding one law suit will more than pay for any PM's fees many times over.

6) Tested and Reliable Professionals: residential property management company's will already have vetted numerous vendors, suppliers and contractors to make sure they provided good quality work at reasonable prices. Failure to properly vet these professionals can be a costly mistake. Many Owners overlook this function because they do not know how to do it or because it is a time consuming and laborious process.

7) Inspection Reports: PM's perform property inspections before, during and after a tenancy. Additionally, most PM's will perform routine property inspections at least every 180 days. Your PM should be responsible for preparing frequent written inspection reports for each of your properties. Faults in your property that are found quickly can be resolved before they become expensive items of disrepair.

8) Financial Records and Security Deposit Escrows: PM's will provide detailed income and expenses reports as well as cash statements every month saving you the bookkeeping headache. Additionally, PM's will also manage your security deposit escrow funds and make sure you are in compliance with local and state regulations. PM's will provide end-of-year tax reports for your accountant or financial advisor.

9) Emergency Calls and Shield You From Tenants: A residential property management company will shield you from emergency maintenance calls and tenant headaches. Imagine never having to deal with late night "my toilet is overflowing" call.

10) Low Costs: A PM should only be charging around 6% to 10% of the monthly rent collected. Assuming a monthly rental rate of $1200 per month that is a fee of $72 to $120 per month. This is less than $4 per day! Can you possible do all these things for less than $4 per day?

11) Bonus Reason! FREE TIME: A good residential property management company will free up your time for doing deals that make money. I mean serious money as opposed to dealing with non-money producing activities like tenant and property management.


Author: Mike Lautensack
Mike Lautensack is the owner of Del Val Property Management, LLC a FULL service residential property management company located in Philadelphia, Pennsylvania. Mike advises real estate investors how to build wealth and financial security through hassle-free ownership of investment real estate with their "Total Property Management Program." This proven management system allows owners to enjoy the financial benefits of cash flow, tax savings, and wealth creation while it GUARANTEES you will never receive a late night emergency call, deal with a lengthy eviction proceeding or ever have to interact with an irate tenant.

Find Property management companies in Pennsylvania

Featured Property Manager of the Week - Professional Property Management Group

Professional Property Management Group - Redding, California

The Professional Property Management Group provides property management services for residential, commercial and community associations, including - but not limited to - the following:

• Enhance the value of the property, by preservation of the existing income stream or minimizing its loss.
• Evaluate and provide recommendations as to the improvement of the properties functional and visual esthetics.
• Evaluate the property site monthly and provide a written report of the finding to the owners.
• Provide for an annual evaluation of the property's income and expense situation as comparable to other like properties within the area.
• Provide 24-Hour emergency contact persons, in the event of an emergency affecting the property, and implementation of any emergency plan for the property.
• Prepare and provide, subject to the Owners approval, an annual operating budget, with explanations and recommendations for the property.
• Provide accurate records of all income received, and expense disbursement as provided for under the terms of the Management Agreement to the Owners on a monthly basis. Collection and deposit of all rents due under provisions as provided for in the Lease or Rental Agreement in place.
• Monthly payment of expenses attributed to the operation of the property as provided for under the terms of the Management Agreement for the property, i.e., property taxes, mortgage, insurance, utilities, maintenance items, and/or related vendor contracts for specific services.

The Professional Property Management Group is based in Redding, California.


Find more California property management companies