A recent study of Experian RentBureau data found that more than 50,000 renters who initiated their leases over a six year period ended their leases owing money.
Property Management Tips
Recent tragedies, such as the Boston Marathon bombing and the Texas power plant explosion, bring out the best in Americans. People want to help, unfortunately, these sort of devastating incidents tend to bring out malicious opportunists as well.
The second amendment is stated in the Bill of Rights as: “A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed”. However, in the wake of recent, horrific events like the Cinemark shooting in Colorado and the elementary school shooting in Connecticut, the 2nd Amendment has been debated as either necessary or outdated. With more than 6 million people in the United States estimated to have “right to carry” permits, this issue is on the minds of the entire nation.
This past weekend I received an email from my bank stating that I had “irregular activity” on my debit card and that I should contact the fraud prevention team at my bank. Immediately, those little bubbles of stress started forming in my belly. As it is toward the end of the month and bills are due on the first, the few worries that circled my head were: how much did they get? Will this affect my credit? Today is Sunday so the bank is closed. I have little gas in my tank and usually don’t carry much cash. Ultimately it soured my whole day.
Within the wake of numerous natural disasters over the last decade, it has become sadly obvious that a large majority of the world is not only unprepared for the worst, but remains unconcerned at the possibility of being struck by a natural disaster. Granted it is understandable most forget when natural disasters hit at random, however, as a major communal threat, it is imperative that your properties have a backup plan available. In aiming for the safety of your residents, staff, and assets, here are a few key points to consider when preparing your emergency plan:
We are reaching the peak of Summer and with this season comes all of the activities associated with it. Swimming, tanning, barbequing, and heat stroke are all of what can accompany this time of year. The last one, however, is what I want to focus on today. Often time’s people don’t want to stop and think about properly taking care of themselves, but what threats can this pose to their health and by proxy – your liability for caring for residents on your property?
I remember the first apartment I moved into-
it was a nice community that was well kept and gated for added security. The managers in the office were very friendly; the community allowed for our dog; we had to argue with the company about having over $500 removed from the deposit due to repainting the entire unit because of a black scuff on one wall of a bedroom. Unfortunately, that last portion was also the only goodbye memory I have from that community and also something that gets shared with anyone I talk to about an apartment to rent. While not all residents will have the perfect send off, there are still small gestures you can make that will leave a positive lasting impression.
It seems like everywhere I look I see advice on how to get residents into your property and how to keep them there. What I don’t see is articles about how to make an impact on your resident right after they sign the lease. The period after they sign the lease and begin moving in is one of the most difficult times. They have to go through the headache of moving, transferring all accounts, informing people of their new address, and then they still have to adjust to a new home. Adding value to their life during this period may make more of an impact than any other time. Here are some great ways to improve their transition:
As the renting population continues to increase, so does the competition between properties looking to attract new tenants. While there are still tenants just looking for a place to live, there is also a demographic searching for the best property that will satisfy all of their needs. Here are some tips on how to broaden your properties appeal to a larger group of apartment seekers:
I have been in a discussion during the past week about how to choose a company to provide tenant screening. I was conversing with several industry professionals on the matter and while we didn’t always see eye to eye, there were absolutely some common beliefs and great recommendations on what to look for. Here are some of the hot topics we focused on for making certain you find the best option as well as reasoning for being so cautious.