During the course of your professional career as a property management executive, building new compensation plans will be one of the most important projects you ever undertake. In fact, this project has the potential to be an explosive issue for your team of SuperStars and must be designed with great care. The information in this…
Details“Steve, didn’t you say that once mortgage rates fall to X% that house prices would soar? Aren’t we there now?”
I often refer to landlording and managing as the 10% job that earns the other 90% of every rent dollar I collect! I have always charged 10% to manage properties, although I only do it for myself nowadays. I might just add, however; I’d be more than happy to pay any professional manager 10% of…
DetailsWhat maintenance you do on a building depends a lot on when you plan to sell it or how long you expect the tenants to stay. To decide, you must look at three things:
Landlords and “fix and flip” investors frequently upgrade their investment properties to increase their profitability before acquiring tenants or selling the units. Renovations related to plumbing, electric, roofing, or other major systems often require
If you’ve been managing rentals for a while, it’s likely you’ve received requests for tenant references. When your current or former tenants are looking for a new apartment, your contact information may be submitted to their future landlord as a reference. Similar to how you request landlord references and complete a
Do you know that the U.S. state which produces the most vegetables by far is going through the worst drought it has ever experienced? Do you know that the size of the total U.S. cattle herd is now the smallest that it has been since 1951, even though our population has doubled since then? Do…
DetailsDear Mayor Garcetti: I wrote to you last year – two months after you were in office and became the Mayor of the City of Los Angeles. My goal was to bring to your attention the huge amount of problems that good and decent landlords are having with the Los Angeles Housing Department.
DetailsIt’s impossible to predict what you will need and when. Relying on memory is a mistake, because over time the details will be fuzzy and what you think you remember won’t help you in court. The only way to win a lawsuit is to establish a paper trail of documentation. You need
Two years ago, when 2013-14 legislative session began, things looked very dark for California homeowners. Democrats, many hostile to Proposition 13, achieved a super-majority in both the Assembly and Senate. Many publicly expressed their hostility to the landmark property tax initiative and one even said he would like to