Top 10 Tips: Guerrilla Tenant Screening Tips for Landlords

A Property Manager’s Field Guide to Successful Tenant Screening Policies & Procedures “Tenant Screening by far has to be the most important responsibility of landlords to avoid ending up in housing court.” – Chief Justice Timothy B. Sullivan   It has been said by many landlords and other rental and real estate professionals, much wiser than I, that the primary function of a successful rental business is the process of an effective system to screen for good residents. Having the wrong resident in your property can be the beginning of a downward spiral that can be hard to recover from financially, and take too much time to reposition the property[…]

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Real Estate Networking for Newbies

YOUR ELEVATOR PITCH: This is the start of the relationship and the first impression. A good elevator pitch will be short, sweet, and to the point. They call it an elevator pitch because it shouldn’t take that long to explain what you do. It should be simple enough that a child can understand it, and short enough to finish before you reach your floor destination in the elevator. They keys basic to the pitch are WHO you are, WHY you are like them (this may change depending on your audience), WHAT you can do for them, and HOW they can take action. NETWORKING COMMENTARY: Me, me, me is dull, dull,[…]

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How the “SEOTA Marketing” process is used to Customize the Property Operations for your Investment Property

Every property, resident, owner, and Property Management Company is different. Each one has their unique characteristics and special qualities that set them apart from one another. It is obvious that properties are different. The same car driven by different drivers will perform differently over time. The same is true with buildings. The care and preventive maintenance performed will only extend the life and performance of the property. And just like there are different types cars, BMW, KIA, and Rolls Royce, the same holds true with property types. Usually, the different types of properties will attract a specific type of resident also. Once a property manager understands the complexion of the[…]

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Requirements of the Property Management Business

Whether you find yourself looking for an apartment to call your home, or looking for a property management company to take over the management of your assets; there are key features you should be looking for from both sides of the aisle. You want to make sure they have the processes and procedures in place to upkeep the property for your family while you live there as well as the same processes and procedures to keep your property running at peak performance. It is not too surprising that a property management company that is taking care of the day-to-day operations also has their eye on the ball for the long-term[…]

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Top 10 Due Diligence Tips for Buying Real Estate Investment Property

Top 10 Due Diligence Tips for Buying Real Estate Investment Property During an Interview with Henry Ford the reporter asked Mr. Ford, “How is it that you have become so successful?” to which Mr. Ford replied. “By making good decisions”. After thinking about his answer for a moment the reporter then asked, “How do you make good decisions?” to which Mr. Ford answered, “By having experience”. Again after some thought the reporter asked, “How did you get experience?” Mr. Henry Ford looked directly at the reporter and responded, “By making bad decisions.”     At Belaire Property Management we have been property managers since 2001 and have seen a lot[…]

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Security Deposits: 11 Step Checklist for Accepting Security Deposits During a New Acquisition or Property Transfer

How Should You Handle a Security Deposit Upon the Transfer of a New Property or Property Manager? You have negotiated a hard bargain on your newest rental property purchase. There have been days and nights of endless due diligence, crunching the numbers, working with contractors to estimate repairs, pouring over lead and inspection reports and you finally have a signed P&S and a closing date. But wait! In your due diligence you have uncovered that the Seller is currently holding Security Deposits for their residents and you have never had to deal with these before. You want to do the right thing, but not sure what to do next. In[…]

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Security Deposits: 13 Step Checklist for Returning the Security Deposit

How Should You Return the Security Deposit at the End of the Tenancy? You have had a resident follow the proper protocol you outlined in your written lease agreement to give you proper Notice To Quit. Things are ending amiably with a great resident, probably buying a new house for their family, but regardless, they are moving out of your rental and you currently hold a Security Deposit. What do you do now? Below we have outlined the steps you need to take to safely and securely return the remaining Security Deposit back to your resident when they move out of your rental property. Disclaimer: Before we continue, we must[…]

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