Tampa Property Managment Articles

Discover Interesting, Unusal, and Profitable Solutions For Your Management Problems...


Tampa Property Management Tip #12 - Getting Rid of Unwanted People Walking through a Multi-family Complex

Our Tampa property management company manages 8 duplexes located on a small dead-in street in a low income area.  The challenge develops because of people cutting through our property, walking behind the buildings into a vacate lot that ends at the next street over.  There is a steady stream of undesirable people using this route as a way to save time getting to the next street.


To Be An Effective Tampa Property Management Company, You Must Classify Your Different Rentals into 3 Groups or You Will Lose Money Fast - Part I

A Tampa property management company or landlord must recognize the existence of 3 distinct tenant groups to be successful and keep their rentals full.  There are the professional/executive properties, the blue collar properties, and the low-income/Section 8 properties.  For each group, the property manager must have different qualifying criteria, management rules, and attitude.

It should be noted that your rental properties are divided into these groups based on location, quality, and price.


Tampa Property Management Part II – Understanding the Blue Collar Property Group

Blue Collar Rental Property Group in Tampa Property Management

Blue collar tenants are your bread and butter working class folks.  They work in construction, retail, and industries of all shapes and sizes.  They are usually high school graduates with little or no college experience.  Often they work with their hands and are in the field as opposed to behind a desk

This type of tenants will often be late on the rent and are a bit rougher on your rental property.


Tampa Property Management Part III – Rental Property Groups – Low Income/ Section 8 Tenants

Part I – Tampa Property Management for Low Income/Section 8 Tenants

Low Income/Section 8 Tenants are without a doubt the most time consuming and frustrating of the three tenant groups.


Tampa Property Management Tip #4: Tips for Leasing Houses in a Competitive Market
When competing for tenants in your rental market, your Tampa property management company should aggressively pursue different marketing strategies.  An excellent strategy is offering a no application fee for all applicants. 

Most Tampa property management companies get really uncomfortable with this idea.  Applications fees collected from tenants is often a profit center.  If you charge a client $50 for a rental application, you usually spend $15 in fees to pull credit, criminal, and evictions reports.



Tampa Property Management Tip #3: Collect at least a $200 Security Deposit Now

This tip will help a Tampa property management company rent houses 30-50% faster.  Once you have completed the application process and approved a tenant, you now need to get the security deposit and lease signed.  This presents an opportunity if you move fast.

99% of  Tampa property management companies tell the approved tenant to come to their office and bring the full security deposit.  Or even worse, the property manager will tell the prospect to come into the office the day of move-in.


Tampa Property Management Tip #2: Be Organized with all your Forms.

Items Needed for a Well Prepared in Tampa Property Management.

1) Application Forms
A property manager should carry at least 50 blank rental applications with him at all times.  Quite often, you will find yourself listing a new rental house and have no applications to place in the kitchen.  You want to have applications in the house so you are not always running to your car during a showing.

The property management company should also have the rental application saved on the computer in a format that can be emailed to your clients quickly.


Tampa Property Management Tip #1: Complete the application process on every tenant!

The single biggest mistake a new person makes at a Tampa property management company is skipping the application process for a prospective tenant. 

First of all, you must keep extra application forms in your glove box in case you run out.  Second you should put a stack of applications in every vacant rental.  Place half of them in the kitchen cabinets because some new applicants will steal the ones on the countertop so no one else will rent the house.  Put the other half on the kitchen counter tops.


Tampa Property Management Tip #5 – Always Check Rental Before Filing Eviction

Okay, when the inevitable eviction arises, a Tampa property management company should make a point of checking your rental to make sure the tenant is still living there. 

Hopefully, you have given the proper 3 day notice, as the property manager, the day after the rent was due.  After the three day notice, you should be calling your tenant to find out why they haven’t paid rent.  Make sure you do not just make one call and stop.  If people are late with rent, they are usually embarrassed and reluctant to call back.


Tampa Property Management Tip #6 – 50% of the time, the tenant pays the eviction costs and rent.

Believe or not, half the tenants will pay your Tampa property management company rent to keep the eviction from going through.  Difficult tenant are like children and often must test you before they believe you’re serious about what you say.  You simply have to file an eviction before they get the point that rent is due and must be paid on time (or at least paid reasonably late with a late fee).  Nothing makes your point stronger than having the sheriff post the eviction notice on their door.

Often, the tenant can come up with the rent but not the evictions costs.


Tampa Property Management Tip #7 - Do an Inspection During Every Work Order

Owners of the rental properties we manage are always concerned about our Tampa property management company inspecting their houses to make sure everything is okay and ensuring the tenants are not trashing it.  By tackling this concern head on, we convince more new owners to choose us as their Tampa property management company.


Tampa Property Management Tip #8 - How Do You Tell When a Possible New Tenant is Lying?

If you have been a Tampa property management company for any length of time, you know that applicants lie on their tenant applications, on the phone, and right to your face.  You just cannot trust what an applicant writes or tells you at face value.  You must verify and do it quickly.

Red Flag #1 – Tenant wants to move in this weekend and has cash to give you now.

This is a classic one that just about every landlord knows about, but we still fall for it.


Tampa Property Management Tip #9 - Collect a Non-Refundable Deposit Before Taking a Rental Off the Market

If you have been a Tampa property management company long enough, you have seen approved tenants change their minds about leasing a rental for all sorts of crazy reasons.  Just yesterday, I had a client give me $200 deposit to rent a house in Tampa. She calls me this morning wanting to cancel because she is afraid her furniture will not fit in the home.


Tampa Property Management Tip #10 - Rules and Procedures to Keep a Tenant's Security Deposit

When a tenant moves out, a landlord must complete an inspection of the property before refunding or keeping a security deposit.  Legally, you must have proof of any damages that occurred if you wish to charge the tenant.  The vast majority of private landlords keep no proof and send no notice to the tenant.


8 Insider Secrets You Must Know Before Hiring a Tampa Property Management Company

Would you like to save at least $740 a year per rental property? These eight tips will help you to find the right Property Manager and save you money.  Prepare to be amazed with the overcharging and hidden fees charged by most Property Management companies.

1) Avoid National Real Estate Chains Providing Property Management. 

The primary interest of these companies is to sell homes.


Tampa Property Management Tip: Increasing Rent Collection with Low Income Residents

Low income tenants are often irresponsible and do not pay their rent on time. Most Tampa Property Managers struggle collecting rent from these Residents because their expectations are too high.

In order to be successful with low income tenants, you need to prepare yourself that the rent will most likely be late and excuses will be made on a regular basis.  There are low income tenants out there that are wonderful tenants and consistently pay on time but the majority of them will struggle paying you every month.


Tampa Property Management Tip #13 - Late Fees are a Critical Tool for Landlords to Collect Rent On Time

Most tampa property management owners just have a terrible time being the “bad guy.” If you ever want to be successful in this business, you or someone who works with you must be willing to enforce the rules.


Tampa Property Management Tip #14 – Replacing Older, Drafty Windows is Essential to Retain Long Term Tenants
Many homes with windows from the 1960s and 1970s (or older) are no longer functional, and ost Tampa property management owners find replacing windows extremely distasteful because of the expense.. These windows have been warped by weather and usage resulting in large gaps between the window and the house. The window gaps obviously lose heat in the winter and cool air from the AC in the summer. Generally we can buy a standard window for $120-$150 bucks and install one in a few hours.


Tampa Property Management Tip #15 - Many Houses Have Little Or No Insulation and This Will Cost Your Tenants
You should always consider the electrical efficiency of your rental homes or apartments. Rentals with poor or no insulation causes excessively high electric bills for your tenants. Most landlords just shrug their shoulders and take no responsibility for this issue. This is a huge mistake. If the electrical bill should be around $200 and the bill is coming in over $400, you cannot immediately assume it is the tenant's fault.

I live and manage properties in Florida, and I am constantly amazed by how many older homes have no insulation in the ceilings or attics.



Tampa Property Management Tip #16 - If You Prepare Property Owners for Occasional Upgrades, You Will Reduce Vacancy and Increase Rents.

A Tampa property management company should prepare every rental property owner right at the beginning of the relationship for periodic upgrades.  Every item in the house especially those in the kitchen and bathrooms have a useful life. In order to stay competitive and rent your rentals quickly and at a good price, the rentals must be updated in some way every few years.

These updates are only necessary for homes with original fixtures over 20 years old.  For instance, 25 year old kitchen cabinets and bathroom vanities need to be replaced, maybe not right away but soon.


Tampa Property Management Tip #17– If You Want to Collect Past Due Rent Do not Let the Tenants Set the Terms

In our Tampa property management company, collecting rent is very tricky and requires some insight into the psychology of dealing with tenants.   The most common method of rent collection is to insist the rent is paid on time or an eviction is filed after the 3 to 10 day notice expires (changes depending on what State).


Tampa Property Management Challenge #1 : Section 8 Tenant From Hell

Our Tampa property management company is currently experiencing the worst Section 8 tenant in the history of our company.  This is a great illustration of how to handle an out of control Section 8 tenant (which are very rare). 

So, let me set the background.


5 Things You Should Never Talk About With Tenants in Tampa Property Management


Tampa Property Management Tip #18 - 4 Ways to Increase Tenant Retention Without Spending a Dime

Tenant retention provides a huge advantage to any Tampa property management company whom devotes the time and energy.  You save your property owner’s a ton of money by eliminating expensive costs getting the unit rent ready again. Painting, cleaning, yard work, and minor carpentry repairs can easily run $1000-$2000 everytime a tenant moves out.


7 Warning Signs to Avoid the Worst Type of Tenants in Property Management


Tenants do not suddenly become “tenants from hell” to a property management company.  There is a pattern of behavior over their entire adult life that will show up in a thorough background check.  A property management company just has to be able to identify the signs of a potential “dead-beat tenant” and disqualify their application.  Having the skill to recognize this type of tenant is perhaps one of the most important a property manager will ever develop.


Learn Why Meeting Potential Tenants at a Rental and Showing is a Waste of Time and Money in Tampa Property Management

Setting up meetings with potential renters can be an aggravating experience.  They are often late; sometimes they don’t bother to come at all.   How many beautiful weekends have you wasted waiting for Prospective Tenants, who never bothered to show up?

You can reclaim the wasted time; you can alleviate the frustration of no-shows.  You can free up your evenings and weekends so you can spend more time with your family (or fishing).


Property Management Tampa Tip#19 – How to File An Eviction

There comes a time in Tampa property management when enough is enough, and you have to file an eviction on a tenant.  The tenant might owe you 1 or 2 months worth of rent.  You have called repeatedly, given a 3 day notice, and even talked to them in person on several occasions.


Property Management Tampa Tip #2: 6 Steps to Get a Vacant Rental Ready and Avoid Huge Vacancy Losses
1) Clean the rental from top to bottom.  A Tampa property management company must ensure each rental looks sparkling clean especially in the kitchen and bathrooms.  Women typically decide to rent a place or not based on cleanliness and these areas are extremely important to them.  Make sure the stove pans are new, there is no grime inside the cabinets, and the inside of the refrigerator is spotless.  You are trying to make a strong first impression.


Learn How to Properly Manage Rental Properties in 5 Easy Steps

Learning how to properly manage rental properties takes study, practice, and trial an error.  In the beginning there will be a lot of “error.”  However, here is a quick and dirty list of things you need to have done to get started.

1) Get a good Lease.  Do not use leases found with your local real estate office.  The leases benefit the tenant more than the rental property owner.  Instead, attend a local investor club and make friends with some successful landlords.


Why A Tenant Walk-Through Sheet Saves Your Tampa Property Management Company A Ton of Aggravation
You can buy these Walk-Through Checklists online or through companies that service the Tampa property management industry.  This particular checklist gives tenants peace of mind when they move into your rental property.  If there are scratches on the kitchen countertop or chipped linoleum in the bathroom, the tenant can write this down on the checklist.  Therefore when they move-out, they know they will not be charged for those items.


3 Simple Tests You Must Do to Find a Good Vendor in Tampa Property Management

In our Tampa property management company, we typically test out 3 to 4 different tradesmen to find one who is reliable and does the job right.  The question is, how do you find the right vendor?

The initial test is a “Bid Test”.  Have the tradesperson first go out and give you a quote for labor and materials.  Have a tradesman you trust quote the same job before or after the new person.


Learn the One Right You Must Reserve Before Hiring a Property Manager
If you are planning to hire a Tampa property management company you must demand one very important right.  This is going to sound silly at first because most people think they already have this right.


Why You Should Never Hire a Property Maintenance Company
A property maintenance company is by definition an overpriced third party vendor.  Why are they overpriced?  Because this company has to support:

1) Massive Overhead – which is office rent, company trucks, accounting person, receptionist, the list goes on and on.

2)  Owner’s Profit – if the company is a decent size, you can rest assured the owner is not out there doing any of the maintenance work.



How does your HOA measure up?

A good HOA should not only take care of what is visible, i.e. what is on the surface, but more than anything, a good HOA should ensure that everything in the property under its care is working properly. It is dangerous to have something that look good only on the surface but fall apart from the inside.

There are myriad of things that HOA should oversee. From landscaping to the building signs, everything must work properly to avoid possible hazard.

Landscaping could be costly, especially if there is no ongoing maintenance done to the land.


How Heat Metering May Help You Lower Your Gas Bill

Winter is here! With it, often times you will find that your gas bill will skyrocket. To put some control into it, you could put a meter system into your property’s heating system to monitor its use.


Things You Should be Asking Your Contractor

When you are hiring a contractor, there are several things that you should ask to make sure that you are hiring a good one.


Choosing a Good Property Manager

With so many property management services out there to choose from, the choice may get overwhelming when it comes to find the one that will be the best fit for you.


How to Increase Tenant Retention Rate

 A high tenant retention rate is sufficient for a real estate property to produce a stabile cash flow. A property’s vacant period is costly because first, the property is not generating money.


Important Factors that Attract Renters

There are some factors of a rental property that would attract renters. It would serve you well to know what they are.


Important Factors that Attract Renters

There are some factors of a rental property that would attract renters. It would serve you well to know what they are.


Is your property livable?

When you are managing a property, one thing you need to make sure is that the property is highly livable. Livability is important because it ensures your tenants of a healthy living condition.


Strategies to Rehab Your Property

Buying a property to be rented out could be a great move for a savvy investor. However, some of the buy to rent properties out there may need a lot of work before it is fit to be rented out. You need to have a clear cut strategy to make sure you do not waste your time and resources for unnecessary repair or wrong repair move.


Preliminary Questions to Ask a Potential Renter

 A good renter does not come easily; you have to filter them out from the pool of prospective renters who are interested in your property. You may ask these prospective renters some preliminary questions up front before you go to the length such as running a credit check, et cetera.


Increasing Your Property’s Worth

As a property gets old, it often may benefit from some rejuvenation to increase its appearance and become more attractive to any potential renters. Some simple renovation could also increase the property’s worth considerably. Here are some simple renovation ideas that you could consider.


Do You Need a Property Management Service

Do You Need a Property Management Service?

 

Leasing out your property for rents might give you a nice additional monthly income. However, it also has a great potential to give you a constant headache.


Create a List of Common Damages by Tenants and Put Them in the Lease (Wanna)

Making Tenant-Landlord Relationship a Breeze

 

Leasing your property to a bunch of strangers can be challenging, to say the least. Rules need to be set beforehand to make sure both parties understand each other, and to lessen any potential frictions.


Why Invest In Indian Real-Estate?

Many countries in the world suffered during the great global economic depression. One of the many gravely affected was India, and it's not very surprising why many investors are wary to invest in this country. However, due to the implementation of strategic market policies by the government, in participation of several other market forces, the real-estate arena is likely to get back on its feet very soon.


Why Invest In Indian Real-Estate?

Many countries in the world suffered during the great global economic depression. One of the many gravely affected was India, and it's not very surprising why many investors are wary to invest in this country. However, due to the implementation of strategic market policies by the government, in participation of several other market forces, the real-estate arena is likely to get back on its feet very soon.


Points to Consider in Purchasing a Real Estate Property

Tackling specifically the town of Fethiye, this place is sitting in the slopes Mendos Mountain that boasts a warm climate, naturally beautiful scenery, and folks that are warm and nice. These features make the town a popular site for tourist to relax and unwind.  Aside from the excellent piece of nature and culture that it offers, it also competes with an inexpensive lifestyle.


Go Paperless Using Automated Work Order Software

The massive pile of work orders that has to be approved seem to always ruin the day. In fact, the thought of it alone is already exhausting. If there comes a tenant dispute, you will have to write a work order, submit it to a staff, and then you have to wait some more for it to be approved by a higher-up. This process is adding to the injury, and much to the distress and anxiety of the tenants.


Ensuring Security with Tenant Screening Reports

As a responsible property manager, you have to put your tenants' security on top of your priorities. When renting out one of your home or apartment units, don't rent it out to just about anyone looking for a new place to live in. What if he's an ex-convict? A murderer? A pedo? You're putting the lives of other tenants at risk.


Establishing Relationship with Contractors

While tenants are the bread and butter of the assets you're managing, as property manager, they are not the only people you have to be concerned about. Like how you deal with tenants through meetings, it is important to communicate with your contractors as well. They are key entities to the performance of your property. Be it major or minor glitches, these people are the ones on the rescue.


How to Manage a Commercial Property - Handover Procedures

Communication is an essential part of any transaction. Whether in business, in school, or at home, it is imperative to have things communicated properly in order to maintain a harmonious environment.


Importance of Tenant Contact Program in Commercial Property Management

As a commercial property manager, visibility to your tenants is important. The more they see you, the more you are to establish a bond with them, and with this bond comes with more trust. In case of maintenance issues, they are also likely to contact and cooperate with you as you successfully penetrate into their comfort zone.


Make your Tenants Pay Monthly Bills On Time

Collecting tenant fees could be daunting, much like a game of hide and seek, where you're always the one who has to seek. There are cases where your tenants tell you to be at their property at a particular time but then, they're not there when you get there. And then they give out a handful of excuses and promises to pay their rent another day. This can be such a hassle and could ruin a beautiful day.


What it Takes to be an Amiable Landlord

It doesn't matter whether you've just decided to jump into investing into real-estate or you've been here for years. It is important for you as landlord to maintain an amiable attitude who tenants would feel like paying.


Your Property’s Condition Before Showing it to Tenants

Renting a property to tenants is not as easy as it sounds. In order to significantly save time and effort in giving an overview of your property, as well as to make sure you’re only going to deal with interested buyers when you meet them first hand, a website with a video tour will be a very good strategy for you.


Why Does It Have to Be Online Property Management Software?

Let’s face it, nobody likes paper works – not you, not your boss, not your parents, literally nobody. Nothing ruins a day more than those annoying pile of papers which you can’t almost get yourself to touch without feeling the weight of the entire universe on your shoulders.


Why Do You Need a Management Company?

If you own a wide array of residential properties and you can’t attend to them all, there are companies that specialize in residential property service. These companies are experts in managing any kind of residential property, be it several separate units or apartment complexes, and they operate under management companies.


What it Takes to be Successful in the Real-Estate Business

People invest in real-estate because it is lucrative and likely to promote high returns. But profitability is always even-handed with responsibility. In order to be a successful in this field, there are several things that you have to keep in mind.


The Importance of Fair Housing and Why You Have Take it Seriously

This is not the first time we’ve heard of the word “discrimination.” While this daunting offense is oftenly overlooked, it could pose some very serious legal issues at certain instances. Perhaps one of these instances is when you’re a rental property owner.


Points to Consider in Posing Suitable Rates to Your Property

One of the most commonly abused areas in renting out properties is the rate. Landlords sometimes bid too high for a property that’s not worth the price.  In order to get an idea of how much you should rent your property out for, there are several places you can compare your property with.


Points to Consider in Buying a Property

Buying a property is like choosing a wife. You have to get to know the property to its deepest structure if you can, or else, you might end up labeling your property acquisition as the worse decision ever made in your life, pretty much like how you’ll end up going to the court and filing a divorce against your wife who you married after 3 weeks of dating.


Plumbing Issue is Serious Business

A leaking faucet or clogged toilet doesn’t seem to be that big of a problem at first, but trust me, you can’t be so sure about that. If a plumbing problem is left unattended and it gets out of hand, it’s just as bad as having your entire building on fire.


The Ultimate Principle towards a Harmonious Property Management

As a landlord, you’re probably aware of the role of property management as the ultimate discipline that governs real-estate businesses towards a healthy and profitable partnership with tenants. You have a reputation to maintain and it is important that you attend to your tenants should they have any concern. However, no man is an island.


How to Set Rental Fees on a New Property

The mode of rental for each unit of a new building is important to make sure the operation of the entire building is not going to flop financially in the long run. Whether you’re going to go for net or gross rental, it is important to calculate everything properly. Rent strategies are important to ensure that you get your intended returns. You have to determine rent rates first before you ever get into a negotiation with any lessee.


Don't Ignore Hispanic Renters

I get it, it’s hard to talk to someone who doesn’t speak English. But with the growing number of Spanish-speaking people in the United States, it is getting harder and harder to avoid these people. Spanish is the second most spoken first language in the world so instead avoiding Hispanic renters, you might as well try to adapt.


A Guide for Landlords on How to Rent Out Properties Properly

In order to make sure you won’t have any hassle in running your real-estate property, here are some tips to start your business right assuming the position as landlord. Before you start doing anything to your asset, be sure you have all the papers processed. This includes mortgage, health and safety certificates, insurance etc.


A Guide for Landlords on How to Rent Out Properties Properly

In order to make sure you won’t have any hassle in running your real-estate property, here are some tips to start your business right assuming the position as landlord. Before you start doing anything to your asset, be sure you have all the papers processed. This includes mortgage, health and safety certificates, insurance etc.


Dump Costly Invoices, Text Messages Are Free

Let’s face it, the world’s modern now. Sending invoices is not anymore as practical as they were before.  Can you imagine the hassle of sparing one day every month just to type out invoices, print them, put them into individual envelopes and drive down to the post office to have the them sent out to your nearly a hundred tenants? What a painstaking job indeed.


Residents' Committee to Address the Problems of the Community

A residents’ committee might sound like a bit of a hassle that’s gonna rip off significant time and amount of money that you’d rather spend on something else-- and it’s understandable if you think that way. In fact, statistics show that 90% if communities and people’s housing projects (PPR) don’t have a residents’ committee.


Why Landlords Need an Online Property Management Program

It is important for landlords to have records of every transactions they make, both for the sake of being responsible, and the other in case of legal disputes. Instead of using a mere property management program, just go for an ONLINE property management program.


Preparation Prior to Acquiring a Property

Eventually, we all have to find a place for our own. Be it the start of us being independent, or even if we just want a new life over after a break up or anything of that sort.


Identify Damage from Wear and Tear

When a new tenant occupies a certain unit of residency, the landlord automatically collects security deposit fund. This is where repair costs will be subtracted in case the tenant damages something in the property. However, landlords sometimes find it difficulty to identify damage from a simple wear and tear. This could lead to disputes between the two parties that could end up in court.


Why Do You Need a Short Sales Specialist?

In the event of unprecedented misfortunes which none of us is ever immune, it is sometimes too difficult to get it through without compromising one or several of our properties. And to aggravate the situation, not only are we racing with finances, but with time as well. In order to get the best value for our property, it is advisable to seek the help of a specialist, in this case, a short sales specialist.


Rental Forms to Start Your Business

Ok, so let's say you've done every tiny bit of detail about your property. The problem you'd be facing next is to find a tenant.


Make Your Tenants Renew Their Lease

When a good tenant moves out of your property, this could mean a hassle of some sort. You will have to get your unit ready for the next tenant, as well as pay the mortgage of the unit even if the unit goes unoccupied for sometime.  It’s not easy to find quality tenants, but you can’t let your place go vacant for more than two months or it will become a liability rather than a profitable asset.


Preparatory for Property Valuation

In order to accurately determine the value of a property, several studies are conducted which include physical property research, out-and-out study of the area, current real-estate market values and several other assessment programs based on the kind of property.


Make Tenants Feel at Home: Talk Sometime Over Lunch

It's not easy to approach tenants considering that their personalities are not all the same, and that they vary as wide as the array of properties that you have. In cases as such, the best way to approach them and tell your tenants about certain business matters such as renewal of lease contract, changes in occupancy, and contract extension, is best done in person, and by in person, it has to be something casual and subtle.


The Essence of Property Managers

There are  experts in almost every area of endeavor. In the medical field, we have doctors; in programming, we have programmers; in cases and lawsuits, we have lawyers. In managing a real-estate, you can't just randomly pick someone to manage your properties after thinking about it for 5 seconds.


How to Deal with Difficult Tenants

People’s attitude varies, each with their own complexity that it would be an incredible bliss to have them in a place where they live alongside each other harmoniously. But let’s not daydream of ponies and rainbows in broad daylight, not all people are nice. They can be so difficult sometimes that you just want to prick them like a bubble so they disappear.


Real Estate Arena Flourishing or On a Downhill

The great global economic depression has brought down many industries and companies, including the infamous Lehman Brothers, the 4th largest investment bank in the world. However, despite the companies falling down like London Bridge’s frailty on a heyday, not all areas are on disgrace. There will always be some things that are going to thrive just as they did all these years. An example of this is the real-estate arena.


Homeowners Association and Valentines Day

Valentine’s Day came to be as a holiday in honor of a certain Saint Valentine who is thought to be the person to give the first love letter. He gave it to a jailer’s daughter who he cured from what everyone at the time thought was an incurable eye disease.  True or not, he has influenced the lives of many people, and Saint Valentine’s birthday came to be the holiday dedicated specifically to people from all walks of life who love.


What to Do with Boisterous Tenants

Not all people in the world are Hispanic and can tolerate earsplitting every day conversations. We want the neighborhood to be as harmonious as possible and it’s important to protect the tenants from other lessees who are making too much noise. A peaceful community means healthy business.

However, promoting peace in a community can be a challenging job.


Why You Have to Know Your Prospect Tenant

As much as I would like to believe that all tenants are capable of paying rent, it’s like dreaming of rainbows and butterflies during Algebra class. Not all people are as honest as you want them to be, and some of them can even tell virtually all lies in the book just to get landlords and property managers to admit them into a unit.


Yahoo Finance Article (Review): Own Your Own Home

The American Dream: Own a House:  Tampa Property Management

This article is not me giving tips and advices like I used to, but rather, a review of a great article I found. It’s a piece from Yahoo finance called “Buying Your First Home”. Having a house used to be the pinnacle of American dream, and it still is one of the foundations of it even though times have changed. A new house to call your own gives you a feeling of security and self-satisfaction, that the property is yours and no one can take it away from you.


Must-Know about Property Management

Property management is serious business. Having to look after the tenants, finances, damages and what not, can be arduous, and sometimes, irritating, especially when you’re not specializing the field, or don’t have a background on it. Property manager handles virtually all of the rental business’ activities, and the entire community or chain in general. They make sure everything’s working fine, and that everybody’s happy and paying their dues.


Condo Management Functions

Aside from property management, there’s also what we so-call condo management. This body is basically composed of condo owners themselves who act as administration officers to lead the entire building. They supervise finances and hire property managers, as well as ensure a round the clock security and satisfaction among owners. You can’t really expect a property manager to run the entire building all by himself.


Assessing a Property Manager

Investing in rental properties requires a lot of money, time and effort. As a landowner, you would not want all the preparations go to waste by hiring an incompetent property manager. In fact, the property manager is likely what will make all the difference. He is technically you, and in order to be you, he has to care for the business as much as you do, and he has to be dedicated as well.


Treat your Tenants Right: Simple Tips for Property Owners

Whether you’re going to manage the property yourself or not, taking care of your tenants is always important. A month or two of vacancy is not good for business as the asset will cost you money on top of its unprofitability. Here are some tips on how you should handle your tenants as the lifeblood of your business.


Lucrative Possibilities of Leasing Properties

Undoubtedly, there is money around rental property. It’s a good investment that will give you sustaining monthly revenue. However, it takes a couple of months to build before you can actually consider it lucrative. The good thing is, all the hard work and preparation will eventually pay off in the long run. I think this model is not only applicable in rental properties/real estates, but in any kind of endeavor as well.


Background Check and Screening of Tenants Made Easy

Running a background check on a prospect tenant is a standard operating procedure and is by no means offensive. Everybody undergoes it so you don’t have to be awkward should you tell your tenants to give you time as you assess their background. After having able to explain the mechanics of the background check, it would be quite laborious to do the task yourself. This is where software and third-parties come in to the picture. With them, background checks would be no sweat.


An Overview of the Services Offered by Property Management Companies
Normally, an exclusive neighborhood is being taken care of a property management company. This is to ensure the peace and stability of the community, and that every publicly accessible facility is running just fine. As landlord, it’s no easy task to take care of an entire community all by yourself, or if you have a property in a particular place and is living far away from it that it would be laborious and costly to fly back and forth yourself. You only have one body and one soul. A separate entity should help you get the operations going as it is.


An Article Review: The Best Retirement Places (in the United States) by Warren Barrett

Aging is inevitable. We all grow old, get tired, quit our jobs and find a place where we can spend our remaining life span without worries. This is where a good Tampa property management company comes in.  Somehow, we seem to have been working all our lives to get to that point where we can’t work anymore. Considering that there will be no more income at this particular stage, only pension and benefits which doesn’t really sound that much, we will have to look into our prospect places closely and see if we can live up to its standards.


What to Look for in a Property Managers

Everything you do about your business is an investment and you have to proceed to your every decision with precaution. Like many other things you’ve purchasing and plans you’ve been plotting to beautify your properties, a property manager is also one of your assets so you have to choose only the best among your applicants to ensure that your business is going to last.


Should You Get a Doorman?

There is no absolutely answer to the question above. People have different standards of living, different needs, different endeavors, different financial allocations and different definitions of life. Whether to get or doorman or not depends on your lifestyles. There are advantages and disadvantages of course, but their bearing depends on how you look at them.


Property Management Quotes/Rates

Pretty much like buying something off a store, property management also has an array of prices imposed on them as you use their service. The prices though are not general. It varies in terms of service quality and its scope. A more established property management company, of course, imposes higher rates , while the not very exceptional ones or startups cannot really impose a rate as soaring.


Insurances to Ensure Your Properties’ Not Going Go Down

Our buildings, houses and other real-estate assets are important to us. We didn’t pick up the money off somewhere to buy the things that we possess. How long did it take you to buy that house you’ve always wanted? Did it take you a year or two? If so, lucky, most people don’t really get their dream house that easy. We are all aware that problems could arise anytime, unprecedentedly. No one can foretell what will happen in the future.


Why It’s Important to Get a Property Manager

It’s inevitable that sometimes, we’re bound to make a choice of keeping something or letting it go. Let’s say for example, a house. If it has all your childhood memories, it would be pretty difficult to sell it. However, a house left unoccupied is a liability. You will have to pay for maintenance and it’s not even earning. You have to set your mind and put your sentiments aside so you won’t lose the property for good.


Residential Property Management to Take Care of Your Property for You

If you have more than one home, it can be pretty costly to just have it sit there prettily as you pay mortgage and tax for it every month, on top of regular maintenance so it doesn’t wear out as fast. The best option for you is to get your property renteD, however, you would only want the best possible decent tenant to occupy it.


Are Property Managers Worth the Price?

Whether you need a property or not depends on how you value money over freedom and vice versa. It’s not easy to be a property manager. You’ll be carrying the burden of running the entire property all by yourself, in all its joys and sorrows. From finding tenants to processing their disclosure, this will all be your job. However, I don’t think the manual processes and paper works are what essentially make property management difficult. They are time consuming but they are not really that difficult. What really makes property management a challenging job is when you have to deal with tenants.


The Rise of Hotel Refurbishment Services

Third-party management companies have been emerging these days caused by the growing number of rental properties arising – perhaps because of the enlightenment of the industry’s lucrative possibilities, and the escalation of the world’s population, thus inflating the market potential. Property management are there to manage your rental property business and make sure it’s occupied every month to get the cash flowing in on a regular basis.


Property Managers as Determining Factors to your Business

If you were given the chance to choose between price and quality when hiring a property manager, I strongly suggest you go for quality. A good property manager comes with a premium, normally at 8 percent rip off, compared to average ones which are at 5 percent only. While 3% is a significant saving, a good property manager can actually save you so much more; from the heartache, stress, expenses, vacancy, and they know how to ride on the waves of the market.


The Hunt for Investment Locations

Investors are always on the pursuit of places with favorable market conditions because it really does sound like the safest places to put their money into. Being able to identify places with good market conditions and investing in these places are a good thing, however, market conditions are not the only factors to consider. Sometimes, a good factor for many might not be very lucrative for you.


How to Issue an Eviction Notice

Eviction is not as easy as getting pissed the first time a tenant commits a mistake and tell him to get out of the property right there and then. You can’t also just force him out of it and change the lock of his unit. If you do things this way, it’s a guarantee that you’re going to pay for damages that’s worth a couple of month rent. It’s going to defeat the purpose of business.


Vacancy Issues: Keep Your Tenants In

Losing tenants is, at one point, inevitable. Whether they leave because of dissatisfaction or due to circumstances that you have no control over, the most important thing is to know how to keep the vacancy rate relatively low. Vacancy is a disadvantage as you have to shed off money for mortgage, taxes, maintenance and repair without income flowing in.


Real-Estate Ownership Arrangement for You

In getting into real estate business, you will also have to decide whether you want to get sole ownership property, or you want to share it with a couple of other individuals. Of course, there are benefits and disadvantages whatever structure of ownership you are going to select. You can choose among sole proprietorship, joint ownership, partnership and corporation.


Are Monthly Inspections Good for Business?

As to the answer to the question above, monthly inspection are neither entirely good nor entirely bad. Depending on how you want to run your business and what your ideals are, the other one could work better for you over the other. You have to make sure though that before you admit a tenant to your place, you have clearly stated to him or her-- this monthly inspections you’re going to do every month.