Charlotte Property Management Monthly: Incentives: Knowing Why the Chicken Crossed the Road & Why Fees are Good
Q. Why did the chicken cross the road?
A. There was bird feed there
B. A coyote was chasing him
C. He saw a hot “chick” on the median
D. To get to the other side
Answer D is the response that makes this a legendary “joke” (somehow…). Answer D is also very incomplete. Everything happens for a reason; no one does things without some type of incentive being involved. I mean, the chicken...
Learn MoreCharlotte Property Management Monthly: Rental Home E-Harmony: What Tenant Is Perfect For Your Rental?
Dating web sites, like E-Harmony and Match.com, have grown in popularity and are apparently very effective; one in five people getting married met on-line, their advertising claims. That’s pretty good!
It can be even better for real estate. Many polls conclude that 90%+ of home searches begin on-line! Real estate web sites have the potential to be much better matchmakers!...
Learn MoreCharlotte Property Management Monthly: Should I Even Bother to Try to Sell My House in this Market?
This is a question that I was posed on a call last week. For property managers, this is a no-brainer, right? It’s like any buying question to a salesperson in any industry:
Question from prospective client:
Do I need a haircut?
Barber:
Absolutely.
Question from prospective client:
Do I need insurance coverage for (fill in the blank)?
Answer from insurance agent:...
Learn MoreCharlotte Property Management Monthly: Multiple Rental Offer Situations: Is Engagement The Same As Marriage?
So you’re walking down the street the day after successfully proposing marriage to your girlfriend, who now (you’ve been told) is to be referred as your “fiancée”. You’re happy and are convinced she was meant to be “The One”. But, wait; is that the beautiful Sasha Blue across the street? The girl of your dreams who always had those model boyfriends that put you permanently into the “friend”...
Learn MoreCharlotte Property Management Weekly: The “Additional Security Deposit” Letter Exchange
Dear Property Manager,
I am very interested in the rental house you have listed! I think it will be perfect for our family. However, when you asked me for an additional month of security deposit, it made me concerned. Money doesn’t grow on trees these days and I thought the rental ad said you only needed one month down. We also have to come up with the first month’s rent and pet fees, so...
Learn MoreCharlotte Property Management Weekly: The Cheap Rental Home Game: A Saga of Ups & Downs- 10 Tips for Survival
Cheap rental homes remind me of buying electronics off the street.
Street Urchin: “$50 Bucks! Flat screen television for $50! Why are you even thinking about it? This is a great deal- CHEEP!!”
My mind (definitely thinking about it): “Hmmm… I need a flat screen, but this thing is either stolen or a piece of garbage. But, if it’s not (and his uncle really died and bequeathed it to him), this is...
Learn MoreCharlotte Property Management Weekly: Is “Final Tenant Approval” Desirable For Landlords?
As I was thinking about this question the other day, I had a flashback to my high school history class. The first thing I learned from this trip down memory lane was that it is indeed possible to daydream about hours of daydreaming.
The second thing I learned was the strange applicability of our class’s discussion on democracy in regards to approving prospective tenant applications. The...
Learn MoreCharlotte Property Management Weekly: Too Many Repair Requests? 5 Methods To Stop The (Cash Flow) Bloodshed
As a property management company, we work to maximize the cash flow of our clients. Period. We don’t have a problem admitting that.
Sometimes things break in rental homes and that decreases the cash flow our clients receive. They don’t like it, and we don’t either. However, it is part of the game (pardon my street talk), so it is a necessary expense. Sometimes.
Normally if a repair policy is...
Learn MoreCharlotte Property Management Weekly: “Free” Repair Quotes on Rental Homes Can Cost You Money
Everyone wants to save money! But to what lengths (and for what) does it make sense to find “deals”? It really depends on the urgency level of the need. Here are three scenarios of high, middle, and no urgency:
High urgency (nurse): “Your daughter needs the heart transplant now! Do we have your consent? …I don’t know how much it costs, sir… it will be itemized on your bill later, I suppose…...
Learn MoreCharlotte Property Management Weekly: Recruiting Great Tenants- Your Team Is Only As Good As Your Players
It’s been said the most important part of major college coaching is recruiting. A team’s ultimate potential is limited by their talent level. Sure, good coaching can make good players better, but great players are the reason teams win championships and are consistently good.
I started thinking about this the other day when a friend of mine called. He told me that a friend of his...
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