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Great Rental Inspections Make Move-In/Move-Out Process Easier

With more than 260,000 rental units in Utah, there are thousands of security deposit disputes each year. In many of these cases, the dispute comes down to a disagreement between the landlord and tenant over damages and cleaning. This problem is best solved with a thorough and detailed inspection process.

More Than A Quarter of Working Renter Households Spend at Least Half of Income On Housing

Housing cost burdens among working renters rise for third straight year; cost burdens remain steady but challenging for working owners.

Three Effortless Ways To Win The Property Management Paperwork Battle! ©

Buried under mountains of property management paperwork? Do the projects seem to never end? Imagine how good you would feel if every day you could start with a clean and organized desk? Well dream no further! By following the three powerful tips listed below, your dreams will become reality!

Setting up your system:

Shoptalk May 2013

Qualifying prospective renters can seem especially challenging when you must establish their eligibility to rent based upon income. While it is necessary to determine if callers and visitors can qualify to rent at your community, coming right out and asking someone for their annual income can be perceived as an invasion of privacy. (Would you like a total stranger to ask: “How much money do YOU make?”) Recently the following question on this subject came up:

Dear Maintenance Men: May 2013

Dear Maintenance Men:
My tenant has a toilet that has little cracks in various places. It has small cracks, but no leakage. I looked online and they said you could epoxy it or replace it...but you must do something. How can you tell what will work? What would be the best thing? Also, do toilets just crack over time? (“I read your column every time! That and the Legal Corner one.”)
Kristina

Dear Kristina:

Clearing the Air: Best Practices for Enforcing Smoke-free Rules

Not long ago, it was common to smell cigarette smoke in Washington workplaces and restaurants. But with mounting evidence that secondhand smoke causes disease and death, and the passage of Washington’s smoke-free indoor air law, people have come to expect clean air where they work and live.

Number of Improving Housing Markets Holding Steady in April

Following seven consecutive months of gains, the list of improving U.S. housing markets remained virtually unchanged in April, with 273 metros on the National Association of Home Builders/First American Improving Markets Index (IMI), released today. This total reflects a net reduction of one market since March and again includes entrants from all 50 states and the District of Columbia.

Not Exactly As Seen On TV

Don’t let TV’s ‘World’s Worst Tenants’ on Spike TV dictate how you manage your properties. Most of us have seen depictions of landlords on TV and in movies as illimitable in their abilities of ridding of delinquent tenants. Landlords who implement the methods that these shows illustrate for entertainment purposes could find themselves in big trouble. It is absolutely against Landlord-Tenant Law to use “force” to evict a tenant. Locking your tenant out or shutting off the utilities to the unit is very illegal.

LEDs Lead The Way to Lighting Energy Savings

I am seeing more in the marketplace about LED lights. Is this a proven technology and what applications make sense for multifamily properties?

IREM and CCIM Take Key Commercial Real Estate Issues to Capitol Hill

240 Meetings with Legislators from 28 States Focus on Carried Interest, Internet Sales Tax Fairness, and Lead Paint in Commercial Buildings

Some 320 members of the Institute of Real Estate Management (IREM®) and the CCIM Institute recently visited Capitol Hill to raise awareness of key issues affecting the commercial real estate industry. IREM® and CCIM Members representing 28 states and the District of Columbia held 240 meetings with their respective senators, representatives and their staffs to raise awareness of the industry’s legislative positions on:

• Carried Interest

Shoptalk April 2013

The telephone is your single most important leasing tool and it’s probably the easiest “tool” to operate at your community, but is everyone answering it when it rings?

U.S. Home Value Appreciation Rate Slows in First Quarter, But Values in Some Local Markets Remain at a Boil

Unsustainably High Appreciation Continues in Phoenix, Las Vegas and California, But National Moderation Could Indicate Stabilization, According to First Quarter Zillow Real Estate Market Reports

The national housing market showed signs of moderation in the first quarter after months of robust and largely unsustainable annual home value appreciation. The Zillow® Home Value Index (ZHVI)[i] rose to $157,600 as of the end of the first quarter, up 5.1 percent year-over-year and 0.5 percent from the fourth quarter of 2012, according to the first quarter Zillow Real Estate Market Reports[ii].

Rent Drop Boxes– Asset or Liability?

A recent string of thefts has been plaguing Valley apartment communities. Opportunistic miscreants are targeting rent drop boxes at apartment communities, preying on those communities and the residents who pay their rent via the drop boxes. In the aftermath of these thefts, landlords and residents are left with one very important question: who is responsible for replacement of the stolen payments? This question has yet to be formally answered by the Arizona trial courts.

Green is Sprouting Up Everywhere

5 Practical Ideas to Green Up your Bottom Line

It seems that everyone is taking steps to go a little green. So what’s it mean for property managers? Is it worth your time and effort to promote a green agenda?

The Next Generation of Renters: Savvy and Connected

What apartment seekers are looking for in their next home – and how they’re finding it

The next generation of renters is equipped with more access to information than ever before. Recent survey data published by ForRent.com, sister site of Homes.com, sheds light on what renters are looking for and the methods they’re using to find it. With more than 8,000 responses, the month-long survey revealed convenience and cost-efficiency are most important to apartment-dwellers.

Arrg! Just Do It!

You can feel the frustration, can’t you? So much of management is getting people to do what you want. Whether it’s your staff, your kids or your spouse, it can be so aggravating when they simply don’t do what you ask! Well, because I’m not a marriage counselor, I’m going to ignore that part of life. However, if you promise not to tell, I will admit that I do apply this to my parenting strategies.

April Edition of The Landlord Times Colorado

The Landlord Times is a monthly publication for landlords, apartment owners, multifamily investors, property managers and other real estate professionals. It is the business journal for the multifamily and rental housing industry.

Thanks To Our Sponsors:

Appliance Warehouse Of America
Denver Public Health
Home Clearance Center
Mac- Gray
National Tenant Network
Precision Concrete Cutting

Housing Starts Down on Typical Multifamily Volatility; Permits Hit Four-Year High

Due to a double-digit dip on the typically volatile multifamily side, nationwide housing starts declined 8.5 percent to a seasonally adjusted annual rate of 890,000 units in January, according to newly released data from HUD and the U.S. Census Bureau. Meanwhile, issuance of permits for new-home construction rose 1.8 percent to 925,000 units – the quickest pace since mid-2008.

How To Hire Property Management Superstars! ©

Can a person’s behavior and values really determine if they will be a future SuperStar for your property management company? If you knew the formula for hiring SuperStars and could cut your recruiting costs in half, would you start today? This article outlines three simple but critical steps for adding structure to your hiring process and raising your level of success.

Strengthening the interview process:

Dear Maintenance Men: March 2013

Dear Maintenance Men:
I would like your thoughts on a landscape makeover I am planning. My rental property is ninety percent grass and very boring. I want to cut down on my water consumption and change the current “look” of the property. What do you recommend?
Robert

Dear Robert: