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By John Egan
How’s this for asleep-at-the-wheel marketing: A new study indicates that just 22% of all calls to apartment offices that are captured by voicemail or answering services are returned within 48 hours. And just 56% of the calls to those offices during business hours are answered by an on-site employee.
Wed, 09/26/2007 - 13:33 | Staff
Buy an apartment building, improve it financially and sell it for a profit. That is the basic idea, as shown in this example.
With an apartment building investment strategy, it is possible to make a very large profit from one deal. It does, however, require a lot of work and possibly a few years to complete.
Wed, 09/26/2007 - 13:28 | Staff
There are many different ways a landlord can advertise his / her rentals property. The kind of advertising that works best depends on numerous factors that include property characteristics, location, landlord's budget, and whether he / she is in a hurry to rent. There are many combinations of advertising methods landlords and property managers use to achieve the best results, some of which are as under.
1. 'For Rent' Signs
Wed, 09/26/2007 - 13:27 | Staff
Any smart landlord will protect their legal interests with a residential lease agreement or rental agreement. Here are 10 tips that will help you properly write an airtight residential lease agreement. A properly written lease agreement will guarantee your rights to protect your property.
Know Your State/City’s Laws
Wed, 09/26/2007 - 13:16 | Staff
The 2007 Legislative session is over and it was a roller coaster. Approximately 3000 bills were introduced in the house and senate. Of that number, roughly 1000 bills passed. The IREM and BOMA legislative committee with help from lobbyist Bill Cross paid close attention to over 200 bills that directly affected our industry. In addition, we worked closely with Metro multifamily Multifamily Housing to add helpful leverage on many bills.
We have listed the bills we think are relevant and will have an impact on day to day management of property.
Bills to note include:
Wed, 09/26/2007 - 11:50 | Staff
Wed, 09/26/2007 - 11:41 | Staff
Have you been thinking about converting your rental properties to non-smoking? Wondering about how to change your lease? If so, you will be happy to hear that the standard leases from the Metro Multi-Family Housing Association, the Oregon Rental Housing Association, and Stevens-Ness Law Publishing Co. have all been updated to include a no-smoking policy.
Wed, 09/26/2007 - 11:36 | Staff
You have to know what to watch out for when you screen your potential applicants. Here are some tips to make sure they are who they say they are:
a Check the application for errors and any information that strikes you as false. Always ask the applicant to clarify suspicious data and engage them in a conversation. Most lies or attempts to hide information, will become apparent.
a Ask for a complete history of residence. If they have moved long distances numerous times in a short period, ask why.
Wed, 09/26/2007 - 11:34 | Staff
Rental owners suffered over $1 billion in bad debt losses in 2004 alone. That means for a typical 250-unit property, it is common to see bad debt write-offs of $18,000 each year, and much more in many cases. That’s a staggering amount of money for a property and the industry to leave on the table under the wrongful assumption that there is little owners could actually have done to adequately protect themselves against such losses.
Wed, 09/26/2007 - 11:28 | Staff
There comes a time when every landlord finds himself/herself in a difficult position of having his rental property occupied by a tenant who is not paying rent, or is making a nuisance of himself and causing problems for other tenants, or is causing immense damage to the rental unit, or his/her conduct makes it impossible to continue with a landlord/tenant relationship. Though, state laws governing eviction vary significantly, the following are a few tips to help landlords finding themselves in the unpleasantly messy situation of evicting a tenant.
Wed, 09/26/2007 - 11:05 | Staff
Most investors who buy a rental property collect rent every month and sometimes even lose money. But, there is a better way and every two years you can even double your income.
Some of the advantages of a rental are all the deductions. I have a way you can keep those deductions and charge a larger amount of a deposit that is equal to the monthly lease. If they break the lease, or are late with the rent, you get to keep the deposit no questions asked!
Let me show you why my clients and I lease-option our properties instead of rent them out.
Wed, 09/26/2007 - 11:02 | Staff
Would you like more prospective renters to walk directly into your leasing office every day? Are you committed to delivering a strong, effective branding message for your community that’s visible to thousands of prospects each day?
A "super-charged" signage program can positively impact your community as it delivers a marketing message that sells. It also helps to create your own brand and establish a "look" that clearly identifies who you are and what you have to offer.
Let's look at how a properly-designed and executed signage program can deliver positive results for you:
Wed, 09/26/2007 - 10:56 | Staff
Q. What steps can I take to simplify billing and payment on my PGE accounts?
Wed, 09/26/2007 - 10:44 | Staff
The asphalt pavement at your property represents a significant financial investment. A new parking lot of 100,000 square feet can cost $250,000 or more to construct, depending on such considerations as required subgrade prep and traffic.
Wed, 09/26/2007 - 10:36 | Staff
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