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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Landlord Checklist: What do you do when your resident passes on?

You may probably think that from the blog title that we mean when the resident moves out of your apartment to live in another domain. Well, actually, in this case, we mean it quite literally. What we are writing about are some of the steps, concerns, and dilemmas you may run into when your resident passes away in the premises they rent from you. “To sleep: perchance to dream: ay, there’s the rub; For in that sleep of death what dreams may come when we have shuffled off this mortal coil, must give us pause: there’s the respect”. Hamlet Act 3 I knew this was going to happen No body[…]

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Security Deposits: Do’s and Don’ts Steps To Follow

Steps to Follow When Taking a Security Deposit When handling Security Deposits there are a few steps that need to occur to avoid getting into trouble and if you miss a step the penalties can be steep. If you miss one of the criteria for your Security Deposits the damages amount to the landlord may be three-fold. Security Deposits are always a concern for landlords. Some landlords are comfortable taking the deposit while other avoid them like the plague. The Security Deposit is an amount of money set aside to indemnify the landlord the costs for repairs or damages should the resident not return the apartment in the condition they received[…]

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Apartment Renter Tip: Mom & Pop Landlord vs. Professional Property Management: Vol. 3 Resident Resolutions and Retention

Do Mom & Pop Landlords Differ From Professional Managers in Conflict Resolution & Tenant Retention? Snidely Whiplash tying Nell Fenwick to the train tracks because she can’t pay the rent, is not quite what we have in mind here. In fact, some practices still in action today by both Mom & Pop shops and some Professional Property Managers can both borderline on some pretty unethical and unlawful resolutions. There are laws to protect tenants from unscrupulous landlords on both sides of the tracks. So if you cannot pay the rent and your landlord decides to change the locks, put your stuff in boxes on the curb, or decide to remove[…]

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Apartment Renter Tip: Mom & Pop Landlord vs. Professional Property Management: Vol. 2 Rent Collection and Property Maintenance

In Volume 1 of our blog series we talked about the Types of Landlords and the impact this can have on Tenant Screening. Here in Volume 2 we will dig deeper in the different options and features that you will find in the smaller Mom & Pop Landlord Shops vs. a Professional Property Management company. Again, it is not our goal to sway you towards one or the other. Your specific needs as a resident may vary as widely as the services and amenities offered by both types of landlords. This is all about you trying to weigh the differences between a smaller, live-in landlord as opposed to possibly a larger[…]

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Apartment Renter Tip: Mom & Pop Landlord vs. Professional Property Management: Vol. 1 Tenant Screening

So you are looking for a new apartment to call your home. But you cannot decide which style of apartment living is going to be the right choice for you. With all of the factors flying around in your head like, commute time to work, great school systems, nice neighborhoods, amount of rent you will pay, and how long it will take you to go pick up a gallon of milk; now you need to decide what type of building and landlord do I want to have that will best suit my rental needs? I do not intend to finish up this blog with a recommendation of which one is better[…]

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Landlord Tips: 8 State Sanitary Codes Landlords Need To Know For Managing Rental Properties

The biggest mistake a landlord makes in owning rental properties is not treating their rental properties as a business. Obviously there are pillars of performance that need to be adhered to to find and keep happy residents, such as: tenant screening, knowing your numbers and strategy for the building, and keeping up with maintenance and repairs. Probably the most overlooked aspect of being a landlord are the building codes and state sanitary codes that clearly outline the specific performance expectations of your rental units. In this blog post we will look at some of the most common and potentially riskiest areas where most landlords fail. The results can land you in[…]

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