What an awesome discovery this has been for me! I recently started using video tours to promote my vacant rental properties in Sparks, Spanish Springs and Reno. Not only did it seem like a far better way to showcase the property than the standard still photographs, but the video allows prospective renters to get a really good “feel” for the property before ever making an appointment to see it. I personally show all my vacant rental properties; I don’t issue keys. As you might imagine, the video tour cuts down on the number of unsuccessful and no-show property showings. That’s just one benefit. Continue reading “Are you using video tours for your vacancies?”
We all make them, don’t we? We all promise ourselves to do better, do more, and achieve the goals we missed in years past. And, if we’re like so many others, we lose sight of those goals in the madness of living, day to day.
This year, I would suggest to you, as a property manager, resolve to embrace just 3 principles that will greatly improve your day-to-day existence in the property management world. When the work life is under control, the rest of life generally seems to follow…
I see it all too often…real estate licensees claiming to do it all. Really, people? Do you really mean to tell me that you’re a top listing agent, a savvy buyer’s representative, you list and sell residential property, multifamily, office, retail, and industrial properties, you provide property management services for all of these property types with sufficient expertise to protect your clients’ interests, and, you serve a geographical territory that encompasses everything within an hour’s drive or more? Wow. Just, wow. How do you do all that with any degree of expertise? Continue reading “Are you brave enough to specialize?”
That’s right! Century-21 Real Estate’s International Convention is set for March 3-6, 2012 in the beautiful city of New Orleans, Louisiana, and I’ve been selected as one of this year’s presenters. I’m so excited to have this opportunity to talk about property management with some of the world’s most well-respected real estate professionals!
My topics for the convention are Tenant Screening and Property Management Profitability — two areas which are crucial to the success of any property management endeavor. In addition, I’ll be participating in a panel discussion around market trends in the real estate industry. Those of you who read this blog are well aware that the trend toward property management is very strong right now.
In advance of the convention, I was asked to submit a short promo video, introducing myself and my topics to the conference attendees. Here’s the video: Continue reading “I’ll Be Presenting at the Century 21 International Convention”
It gives me tremendous pleasure to announce the opening of my new company, Truckee Meadows Property Management, a division of Cook & Company, Ltd., specializing in property management of single family homes in the Sparks, Spanish Springs, and Reno areas. Continue reading “Announcing: Truckee Meadows Property Management”
Who would have thought this might happen? After some 20+ years of facilitating property management classes and workshops throughout Nevada, and consulting with some of the finest property managers in the industry, I’ve been picked up by one of the most well-respected national booking agents in the country, BettsWorks, Inc. Yep, I’m taking this show on the road! Continue reading “It’s Official! I’ve Gone National!”
Today’s post follows up on one from last week where we mentioned co-signers, and their added security to a rental property owner. This question came via a Facebook email from a Reno-area broker and property manager:
“Do you think it’s appropriate for a property manager to accept a rent check from someone who is not on the lease? It happens all the time, but I’m curious if I should have some sort of policy against it, for any reason? What are your thoughts?” Continue reading “Questions from Property Managers: 3rd Party Payments, Co-signers”
Property Managers are frequently faced with an all-too-common scenario, these days: The tenant has lost his/her job, and can no longer afford the rent. Here’s a question that came to me via email the other day, and my response:
What’s an owner to do?
We are currently renting out our home, and the tenants signed a year lease(with a co-signer) in Feb. 2011. Yesterday, we received an email from them stating they can no longer stay in the home because the husband has been laid off. They asked us if they could stay until next month and use their security deposit as a rent payment for September. He says his cell phone has been cut off, so he can’t talk to us over the phone, and will only converse through email. I’m so angry but would like to deal with this in a professional and calm manner. Do you have any advice as to how to approach this situation? This is our first time renting our home out.
For the first time in several years, I attended a meeting of the Nevada Real Estate Commission this past Tuesday in Carson City. What an education! (Speaking of education, did you know that real estate licensees can get CE credit for attending Commission meetings?) For the Twitter users among you, the hashtag I used for the hearing was #NVRECOM.
Early on the Commission’s agenda were several matters including licensee discipline.
Let’s look at one interesting case…
It seems an overwhelming majority of the complaints submitted to the Nevada Real Estate Division concern property management activity; specifically, trust fund handling. Sadly, this case mirrors many others. This is the story of a broker and property manager in the Reno area, doing both sales and property management. After struggling for quite some time with owner complaints regarding her failure to remit funds in a timely manner, this property manager decided to throw herself on the mercy of the Real Estate Division. Sound crazy to you? As it turns out, it was the right thing for her to do. Read on… Continue reading “The Nevada Real Estate Commission at Work”
In an effort to address the horror stories of grandpa’s ashes being seized and taken to the dump, and homeowners being thrown out of their homes without so much as a judge’s blessing, our lawmakers have created a new chapter of law in Nevada governing “Asset Management.”
This new law was created with the passage and approval of Senate Bill 314 of the 2011 Nevada Legislature, a bill sponsored by Senator Lee, and heavily lobbied for by the Nevada Real Estate Division. Essentially, SB 314 attempts to address the unlicensed practice of property management, as it pertains to work done on behalf of mortgage holders. The law targets activities of those who attempt to seize property, preserve assets, clean up property, or perform other duties related to an impending foreclosure, trustee’s sale, and/or real property liquidation.
For my fellow Nevada Property Managers, in plain English, if you manage residential or commercial property for a mortgage holder, and that property is in some stage of the foreclosure process, this law applies to you! Continue reading “Asset Management in Nevada – A New Chapter of Law”