Featured Property Manager of the Week - LB Property Management

LB Property Management - Sherman Oaks, California

Apartment Management has been the cornerstone of our company since it's inception in 1988. LB is the recognized leader in successful apartment management. LB Property Management has an extensive background in all aspects of apartment management including taking projects from the ground up successfully. We have specialized departments that work together in meeting all of your property's needs. Once the contract is secured you will be assigned a supervisor who will be your main contact. There will of course be a team of people assigned to and working on the project however the property supervisor will be your liaison to the other team members. You will have access to all those working on your project. All of our supervisors carry blackberry phones so they can receive e-mails in the field and so that clients can reach them when needed.


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Featured Property Manager of the Week - MySmartlease

MySmartLease - San Bernardino, California

Our People Make the Difference - We believe that the key to our success is in the personal relationships that we have developed with our customers over the years. MySmartLease Management has assembled some of the most talented residential property managers in Southern California. Our experience and knowledge in managing single-family homes means savings for you. Our entire staff is well-compensated employees of our company with ongoing training surpassed by few in the industry. Leasing Consultants - Because we average dozens of prospective renter calls each week to our office, we dispatch our leasing consultants who show rental homes 7 days a week. Our leasing consultants are specially trained in the art of assisting prospective renters and leasing properties. This increase in showing efficiency, coupled with specialized training means results for our property owners, not to mention a tremendous benefit in time and savings to our qualified renters seeking quality homes. Video Taped Property Inspections - If you believe that a picture is worth a thousand words, then Video Taped Property Inspections are just one more reason why you should hire MySmartLease as the property manager of your single family home, condo, town house, etc… There will be little question as to "What the property looked like prior to move in". Adding this enhancement provides peace of mind property management for property owners who want to protect their property AND their residents who want to ensure the return of their security deposit. We Show Rental Properties 7 Days a Week - MySmartLease is open for your convenience 6 days a week, (excluding national holidays). We realize that often time’s renters seeking quality rental homes must have after hour or weekend appointments. We also realize that the management of rental properties doesn't stop on Friday's at 5:00PM.. We have property managers on call 24 hours a day to handle any situation for our customers.

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Featured Property Manager of the Week - Bluebonnet Properties Inc.

Bluebonnet Properties - Waco, Texas

Our business background is founded on the principles expressed by James Cash Penney, founder of The Golden Rule Store, in 1902. When you first contact us, you will receive a Welcome to Bluebonnet Properties to read. It will lead you to the story, How to Love Your Landlord, a story detailing the plight of a person who needs to rent a home. In the story, you will find who we are and how we feel about what we do. Realtors don't like being property managers. Owners don't like being property managers. Property managers don't usually like being property managers. We all like it and that's why people hire us. If you would like to see a list of referrals, I can send you emails and phone numbers of people who have hired us and are satisfied with our work. Most of our clients have never met us in person but stay with us over long periods of time. We hardly ever have a client leave us for reasons other than our completing our mission, selling the house after it's value as a rental is expired. I can always be reached. Call me. Mickey



Texas Property Management

Adversity For Some Brings Opportunities For Others

Author: Lambert Munz

This economic crisis has caused a great deal of hardship for many. Losing a home and losing a job is devastating. For others, this may be an opportunity to buy affordable homes that were unreachable before. If people have a job and feel comfortable with the future, now is the time to take advantage of the low prices and interest rates.

For investors, now is the time to buy investment property if they are able and ride on up the increased values that will happen again.

I knew the market would eventually crash, and when a realtor friend asked me if I was planning to "move up" using all of the equity I had acquired with my present home, my response was, "my home is overpriced and so are the others". I remember Alan Greenspan, the former fed chairman, stating that real estate would experience a soft landing. I thought, well, he is an expert he should know.

I secretly felt that the market would crash, but didn't want to appear negative to my real estate buddies. Anything that increases in value that quickly will come down hard later, especially when the values are higher than the median income of the community.

What then, was driving the market?
Speculation along with fraudulent loans made to unqualified people. Speculators sell to other speculators until the last one gets the one before the crash.

I feel very lucky because I bought my home nine years ago and the value went way up but later dropped about $200,000. Yet, I still bought $55,000 less than the current value today. Some financial planners will tell you to not pay off your home quickly, but rather to invest in more lucrative investments that will return more than what your current interest rate is along with the tax deduction. I wonder what they are saying today.

I am not a financial planner, but my advice is to pay your home off as soon as you can. Some will say I will lose my tax deduction. Think about this scenario. You are paying $1.00 and depending on which bracket you are in, for example 30%, you are saving 30 cents. I have a plan for you - pay off your home and pay me the amount of your former house payment for real estate services and deduct 30 cents for each dollar you pay me. You will have a free and clear house and still have your tax deduction.

My best to you and good luck in the future. Good times will return again.

My name is Lambert Munz and I have been licensed as a Real Estate Broker for 44 years with the CA Dept of Real Estate. I currently am President of Arbour Real Estate Management, Inc. Background was as a Buyer's Broker for Investment properties. 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. My services are available in Sacramento CA.

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Make Finding a Property Management Company easier on yourself by asking the Right Questions, Part 1 of 4

This is Part 1 of a 4 Part Series where we have outlined important questions to ask a property management company before hiring them.









Part 1: Company Credentials
Part 2: Property Management Services
Part 3: Property Management Fees
Part 4: Tenant Screening Process

Property management companies come in all sizes, capabilities and expertise. Just because one works for one investor doesn't necessarily mean they will work for you. Below we have outlined some important questions to ask a company during your initial interview process. Their answers to these questions will provide insight into their business capabilities, credentials and areas of expertise, and can provide you with an understanding of the type of services they offer which are important to you.

Part 1-Credentials

Years in the business - Years in the business can equate to experience and stability within a company. Of course things such as changes in key personnel or senior management can jeopardize this. But generally this is a good indicator of a company with a solid foundation. Chances are they have solid processes and procedures in place to streamline the management of possibly hundreds of properties all at the same time. Make sure these "years in the business" are related to property management and not sales only. Just because they have 30 years running a real estate sale department does not make them an expert in property management or tenant relations.

Done business under another name - You should do your due diligence and contact the Better Business Bureau or other reliable service such as Dun & Bradstreet to see if the company your interested in has a good track record or any consumer complaints filed against them. The Better Business Bureau assigns grades from A to F with pluses and minuses. A+ is the highest grade and F is the lowest. The grade represents BBB's degree of confidence that the business is operating in a trustworthy manner and will make a good faith effort to resolve any customer concerns. If the company your interested in has done business under another name you will want to check the track record of this business entity also.

Property Management Only or Sales also - Some investors will only hire companies that deal strictly in property management when it comes time to managing their rentals. These companies are focused on every aspect of property management since this is all they do, and they will not be influenced in trying to get you to sell and making a sales commission. Other investors may find security in knowing they have a management company that is well verse in sales. A company that offers both sales and property management can be very useful if you plan on buying multiple properties and want to work exclusively with one company for buying and managing all these properties. These companies typically will have a good grasp of the overall market condition whether buying, selling for owner occupied or investment.

Real Estate or Brokers License - In order to practice business as a property manager some states require they process a Real estate or Broker's license. To receive a license requires extensive education as well as passing the state's licensing exam. In order to keep their license current they must also participate in ongoing courses. These courses and license designations cost money and show they have a commitment to their trade. Other states may only require a certificate, which consists of basic classes and passing a class exam.

Staff personnel - Some management company may employ hundreds of employees, while others may be run by a sole proprietor. What you want to find out here is the ratio between their portfolio of rental properties and managers they employ. In other words, if they manage several hundred properties yet only have two staff managers, they may be overworked and unable to give you the service you expect.

Type of properties you manage - Some property management companies manage all types of properties while others specialize in one type, such as residential. If you have a single-family house that needs managing, a company with 90% of its properties being commercial property may not be a good fit. Typically commercial and community association management is the most profitable for a property management company. And some residential property management company may prefer to manage only multi-unit apartment buildings of a certain size and not manage single family houses at all.

Associations/Affiliates - They are many local and national associations that are tailored for the property management community. These associations are full of valuable information, and are a great way to network amongst others in their industry. Once a member of these associations you have numerous channels of educational classes and seminars all geared toward enhancing their skills as property managers. Upon completing class requirements many are given professional designations to promote them as a professional in their field. Some popular associations are "National Association of Realtors®" (NAR), "National Association of Residential Property Managers®" (NARPM®), "Institute of Real Estate Management®" (IREM®), "Community Associations Institute" (CAI), "Building Owners and Managers Association" (BOMA) and the "National Apartment Association" (NAA).

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Featured Property Manager of the Week - Real Property Management

Real Property Management - Phoenix, Arizona


Real Property Management, located in the Phoenix Metro area is a full-service property management company which specializes in:

• Filling Vacancies
• Finding Tenants
• Ad Coordination
• Tenant Screening
• Rent Collection
• Facilities Maintenance
• Facilities Inspections

Property managers in Phoenix, Arizona

So you want to be a Landlord

So you've purchased your first rental property and are now ready to dive into the world of being a landlord. You got a pretty good deal on that house, have run the numbers and have decided in order to cut costs, to manage the property yourself instead of hiring a full service property management company. How hard can it be; you know how to fix a leaky toilet and paint. Plus it would be fun taken on a more hands-on approach with your investment.

You've already got a pretty good idea of what type of tenant you want, right? And you're going to tailor your ads to target this type. And of course you've got a rental rate already in mind that will not leave you with a negative every month. You also went to the local office supply store and picked up one of those ready made "one-size-fits-all" lease agreements. Cool…
You'll feeling like that weekend super seminar you went to on how to become a landlord in 3 easy steps is paying off.
Just do a few more of these deals and you'll be out of the rat race in no time. Sounds great, right? Yes that sounds great, but now comes the realty.

Being a landlord does not happen over night. It takes lots of experience, knowledge and lessons learned.
-It can become a full time job if handled properly.
-It can become a nightmare if not handled properly.
-It can be fun and stressful at the same time.
-It can become overwhelming
-It can make you laugh
-It can make you cry
-It can make you rich
-It can make you poor
-It can make you the hero
-It can make you the villain

I would never discourage anyone from not giving it a try. The best way to learn something is by hands-on experience. Just keep in mind, being a landlord is the same as running a business and there are legalities you must follow and adhered too.

Here are just a few things to consider before deciding if landlording is right for you:

-On a federal level, tenants can not be discriminated against based on race, color, religion, sex, national origin or disability.
-On a state or local level, it can go further by not allowing discrimination based on marital status, sexual orientation, presence of children, age, occupation, source of income (government assistance, section 8), educational status or medical status.
-Market condition, location and amenities or lack of will dictate how much you can set your rent at. It has nothing to do with making sure you cover any negative scenarios.
-You better know more than how to fix a leaky toilet and paint.
-Never schedule a vacation around the 1st of the month. Actually no time is good.
-Have the yellow pages handy, or just rip out the pages listed under "handyman", "plumber", "electrician", "carpet", "carpet cleaning", "painter", "hardware stores" and just cause in case "Lawyer" for quick reference.
-You'll need a cell phone at all times
-Always keep money set aside for the "just in case", because the "just in case" will happen.
-Once you've run the numbers and have come up with the monthly expenses of running your property, go ahead and add at least 10% more; because you'll need it.
-Attend as many of your local hardware stores "How-To" home repair demos. Being a jack-of-all-trades comes with the territory.
-Locate the nearest marshal office or district court from your rental property. You may need them in case you need to start the eviction process.

When I hear people talk about all their horror stories, how they lost their shirt investing in real estate and how you can't make money owning rentals, you can bet it's because they didn't know how to play the game. They didn’t even know the rules. I've had my share of horror stories, but I've learned from them and have moved on and will make better choices in the future.

Understand the rules of the game, play by the rules and you just might succeed.
Happy investing.

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