Saturday, June 20, 2009

Featured Property Manager of the Week - Triumph Property Management











Triumph Property Management
- Las Vegas, Nevada

Triumph Property Management offers expert asset and property management services. It is our goal to our offer clients a complete spectrum of services. Our management services includes basic functions such as, tenant screening and retention, random property inspections, property maintenance, collection of rents, maintenance contracting, and supervision.

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Monday, June 15, 2009

Featured Property Manager of the Week - Azure Group Property Management












Signature Real Estate - Azure Group Property Management
- Scottsdale, Arizona

Azure Group of Signature Real Estate Services has built a rock-solid reputation as the most effective and energetic group of real estate agents you can find. Our core competency is the finest property management services available. That core competency gives the group superior leverage in helping our investor network acquire new properties, and also provides our network a ready-made buyer pool for investors looking to divest their properties.

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Wednesday, June 10, 2009

Featured Property Manager of the Week - Real Property Management Rincon






Real Property Management Rincon - Tucson, Arizona

Real Property Management is a customer service oriented company specializing in the management of single family homes and small rental properties.
Our office and operations are built from a successful property management platform that has been in business for over 20 years managing thousands of properties nation wide.
Having been in business for over 20 years, we manage thousands of properties. We know the Arizona rental market. As a full-service management firm, we offer tenant placement, credit screening, maintenance, property inspections, collections, evictions and monthly financial reporting.


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Wednesday, June 3, 2009

Featured Property Manager of the Week - HomePointe Property Management








HomePointe Property Management
- Sacramento, CA



HomePointe offers property management and lease options to sell/buy for Houses, Homes, Duplexes, Condominium, Apartments, Retail and Office Space.


HomePointe features quality residential rentals and property managers that are experts in locating and screening the best residents. They also specialize in maintaining your quality home, duplex, condominium, and apartment building, retail, and office space.


Homepointe can arrange to lease option your property to sell and assist you in the purchase of a property under a lease option to buy.


Many companies claim to be close to your rental property. HomePointe has offices in Sacramento, Orangevale and Roseville. These three offices are strategically located to be close to ALL of the communities served.
HomePointe has information for renters including lists of residential property, information on renting, our application to rent and more. We also have information for owners of income property including detail on leasing services, rent surveys, our newsletter and more.


Property managers in Sacramento California

Monday, June 1, 2009

Expert Tenant Cons - How Do They Operate?


Author: Lambert Munz

Eviction is a slow process that gives tenants anywhere from thirty days to four months of free living while the courts walk through the legal steps. Most of the time, the tenant leaves in the middle of the night, right before the final hearing. Even though the landlord gets a judgment, it becomes a useless piece of paper. In order to collect the landlord must track the suddenly invisible tenant, find any assets or locate the place of employment.

New right to privacy laws make tracking difficult. After all, where does the tenant go, now that they no longer live under the evicting landlord's roof free, like an adopted wayward adult child?
There are two types of evicted tenants. The first is seriously down on their luck, maybe the tenant lost a job, had a family crisis or severe illness. Regardless of the reason, they have no experience living life without an income. This type of person pays as much as they can, but it never is enough to make a full month's rent. When eviction time comes, they move in with a friend or family, live in their car or find a location in a vagrant village or homeless shelter.

The second class of evicted tenants is the professional deadbeat. They not only know the system, they perfect their use of it like a fine art form. This group has a job when they move into the rental, they have plenty of cash in their hand and they pay on the spot. Their last landlord sounded sincere when you called, gave them rave reviews and had a sound reason that the two parted ways. They had adequate experience on the job, working for a small company for several years. Sometimes this might not be the real income source. These may not be legitimate people or real jobs. They are friends and family that pose and give false information.

The second class of evicted tenants never leave the previous landlord on the application, because they were evicted for past due payments. They make it their profession to move every seven months. The pattern is clear, two months payment in advance as a deposit and the first month's payment. The second month comes a little slow and into the third month a partial payment is made. Eventually the well dries up and the landlord dips into the deposit. The tenant lived at the rental long enough to use the deposit and remain four months in arrears. They move right before the enforced eviction. In the mean time, they saved enough cash to move to the next unsuspecting landlord that doesn't have access to their history and begin the scenario again.

How does this happen? Most landlords are individuals, not companies or corporations with access to all the background information and credit reporting. These are "mom and pop landlords" that want to believe the person that so convincingly tells the tale. They have no weaponry against the professional deadbeat that hones the story to perfection.

The wayward tenants usually find that the individual managing their own property is an easy mark and they know what to say to make the situation appealing.
Without a thorough background check by a professional, the landlord loses valuable time and money with these professional cons. They have the cash and the hungry landlord can't resist the temptation to move them in now. Especially, if they have been suffering a long term vacancy.
These pros don't call property manager ads, but purposely look for ads without agent identification. The law requires that an agent Identify themselves in an ad If not by a company logo than with the word - Agent.
My eviction attorney informs me that he evicts the majority of the people are the same ones over and over again
Be careful out there.

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.My services are available in Sacramento, California.
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Friday, May 29, 2009

Why pricing a rental property correctly is so critical










Author: Jay Myers

One of the most critical aspects of leasing a rental property is pricing it correctly. Too low, then you revenue is not what it could be. But an overpriced rental property can cause far worse situations.

How much does a simple air conditioning service cost? Say $75. How much does a 45 day vacancy cost an owner of a property that should lease at $1400/mo? $2100! A vacancy is normally the biggest expense a landlord faces. Keep the vacancy rate down by advertising at the correct market rate. This is a better way to increase revenue and keep your rental property in good condition.

1. Every week that a property sits vacant, you could have adjusted the price 2% down and made the same amount of money. Over a 5 week period you could have adjusted the price by 10%. Example
*Landlord A lists a rental home on May 1st for $1500 per month. Landlord A leases the rental home on July 1st at $1500 per month.
*Landlord B lists a rental home across the street from Landlord A on May 1st for $1400 per month. Landlord B leases the home on June 1st at $1400 per month.

Which Landlord made more money on his rental home? If you said Landlord B, you were correct. While Landlord B collected $1400 during June, Landlord A sat vacant.

2. Vacant properties can at times, not be safe. 1. Vandalism. 2. A potential water leak in the property could go unattended for a few days and could be disastrous.

3. Example: A rental home sits vacant. Who pays for the utilities? The owner. Who pays for the lawn or pool to be maintained? The owner. Not only are you not having revenue coming in, but you must keep the property in proper rental ready condition. If the property had been leased, the tenant would be responsible for the utilities, lawn and pool care.

4. Most importantly, the "bad tenant" will rent an overpriced property. A well qualified tenant will take the cheaper property because they can. Any owner would rather have the well qualified tenant, right? Example: Both types of tenants view 2 different homes, 1 home at $1500/mo, the other at $1400/mo. For the sake of the example, both tenants want the home listed at $1400/mo. Which one will the landlord choose? Of course, the well qualified tenant. Now the overpriced property's landlord is stuck with a "bad tenant" because all of the good tenants go to the cheaper properties.

5. If you get stuck with a "bad tenant" now..what will it be like a year from now when you want to show the property with this tenant living in the property? It will not show as well because of the condition of the carpet or paint and you will be forced to drop the price. Or even worse, wait til this "bad tenant" moves out and then start advertising, guaranteeing a vacancy. In other words, over pricing your property now, will overall make you less money and could affect how much you get for the property in the future.

About Jay Myers.
I bought my first investment property in 1999 and have enjoyed real estate as a job and a hobby ever since. I now own many investment properties, and through owning these units has helped me understand the shoes that many of our owners are in.
Most agents never sold anything before they became an agent. In sales since 1997, I have really worked hard to develop skills to negotiate the best possible deal for both my clients. I believe this set of skills along with listening to our customers has and will greatly assist in our client's needs.
I enjoy being the Director of Property Management and the manager of our team because of the daily challenges this position entails, each day is definitely different. I think we put together a great team, we all atleast a few things in common.....work hard, get the job done right and listen to our clients and customers in order to improve our services.
Thanks again for choosing Orlando Realty & Property Management by Keller Williams Realty at the Parks as your Central Florida real estate source, and we look forward to working hard for you and with you..........We appreciate your business!

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Wednesday, May 27, 2009

Featured Property Manager Of The Week - New Bedford Management Corp.





New Bedford Management Corp. - New York, NY


In business since 1985, New Bedford Management is based in New York city and has a proven track record of providing hands-on boutique style management services supported by a staff of in-house professionals. Specializing in cooperatives and condominiums, New Bedford recognizes the unique concerns of the homeowner community and its elected representatives, the board of directors. We are therefore able to provide you with a custom tailored service plan to meet your needs at a reasonable cost.

New Bedford Management has an aggressive, pre-emptive management style to fix small problems before they become large and expensive ones. We take great pride in our work. The board and owners will know that New Bedford will always be there when you need us.All phone calls are responded to same day and our emergency response is immediate.



Services INCLUDED in monthly fee
Collect and deposit rent.
Complete computerization of deposits and disbursements to produce balance sheets at any time and year-end account summary.
Bookkeeping. (Regular bill payments and checking account maintenance)
Advertise for, screen and place new tenants.
Handle apartment registrations, lease renewals, rent increase and all tenant related issues.
Coordinate repairs and maintenance.
Provide detailed monthly summary of all the above.
Available for 24 hours/7day emergency service.

New Bedford Management Corp will remind you why you invested in real estate in the first place. We'll help you reduce your involvement and increase your return leaving you to enjoy your investment.


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