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landlord services: Never Settle for "Good Enough" - 03/31/09 07:35 PM
As I sign up our latest new client, I pause to reflect on why they chose our company over our larger competitors. Month after month, our advertising budget is dwarfed by the monstrous amount of marketing money spent by larger companies, yet time and time again we come away with the new account after careful comparison of services and fee structures. But it is more than that...
In the end it was our old mainstay, customer service, that won the day on this occasion. The client, an investor with a home in West Sacramento, called around to several companies, yet ours … (5 comments)
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landlord services: Landlord's Learning Center- The Perilous Pitfalls of Renting to Friends and Co-Workers - 03/15/09 01:03 PM
Recently an unhappy applicant posted their thoughts in a comment on our blog, so we thought it best to touch on an important subject that has or will impact many landlords- the decision to rent to a friend or co-worker.
Applicants Mr. & Mrs. "Smith" submitted applications to rent a home of ours in Elk Grove. Mr. "Smith" was a co-worker/friend of the owner, so certain concessions that would not normally be allowed were approved by the owner in order to make the move-in go as easy as possible on the applicants. The rent was reduced along with the pet deposit, … (9 comments)
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landlord services: Get Your Greedy Hands Out of My Clients' Pockets! CA's Misguided Attempts at Securing More Revenue~ - 03/08/09 12:04 PM
3 down, 8 to go. 11 clients and approximately $1000/month in income is at stake, not monumental but significant for a small property management company like ours. CA Franchise Tax Board has been playing around with the tax code, and it looks like our industry is next in line for their wrath.
The Franchise Tax Board enacted a revision to the tax code in February, retroactive to 1/1/09, making it the property manager's responsibility to withhold and remit 7% of rental payments sent to owners that reside out-of-state, and even more for those outside the U.S. Because there was little notice, … (4 comments)
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landlord services: Nonrelated Businesses Can Still Work Together For The Benefit Of All - 12/12/08 01:28 PM
My wife and I have a friend that is struggling in her serviced-based profession (sound familiar?). She does nails- manicures and fills mostly, but her business has been dropping off in the past year due to clients tightening their budgets and doing away with some luxury services.
As a Sacramento area property manager, I can relate to this plight. Although we appear to be weathering this economic cycle quite well, still meeting our growth quotas each month, I would be lying if I said I was not concerned over the possibility of our clients deciding that management services are a luxury. … (0 comments)
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landlord services: Don't Be Good....Be Vital. It's Worth The Effort to Set Yourself Apart~ - 11/18/08 06:32 PM
Trying to carve out a niche in the CA real estate market can be tough. As a Sacramento-based property manager and broker/owner of a small company, we are constantly challenged to find ways of "standing out" in the crowd of businesses competing for Sacramento area Landlord's patronage.
One area where one can really make their mark in this industry is in customer service. While it might not always be the most profitable decision, we take the extra time with our clients to make a connection, rather than simply "sell them" on a list of goods or services. Where other companies may … (2 comments)
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landlord services: More Than Just A Client- Taking It To The Next Level~ - 11/15/08 11:47 AM
As a Sacramento area property manager for the past 16+ years, I have owned and worked for several companies, both large and small. I have always enjoyed the multi-faceted nature of our industry. A property management company is more than just a Landlord's "rent-collector". Over time, I have assumed many roles for our clients, financial adviser, strategist, mediator, sounding board.
The most important role we can play in our client's business lives is their trusted ally, their friend. I have worked for companies that did not share this view of their clients, often referring to their clients in the most negative … (2 comments)
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landlord services: What are Clients Looking For? The Lost Art of Being Genuine~ - 11/06/08 12:47 PM
After 16 years as a Sacramento area Property Manager, I have learned a few things about our market, our client base and how to attract and keep quality client relationships.
I have read numerous articles, blogs, etc. about how to impress clients, to win their confidence, to dress for success, along with dozens of other catchy phrases promising certain victory in the business world if we follow these simple instructions.
I have always seen myself as an original thinker, as I always seem to find myself looking for a different way to do things that would make me and my company … (6 comments)
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landlord services: Landlord's Learning Center- Documentation is Key to Minimizing Liability~ - 11/03/08 03:44 PM
It seems crazy to me, as a Sacramento Property Manager over the past 16+years, to hear that people are still making verbal agreements with their tenants.
We were hired by a Landlord last week to step in and take over a delinquency problem with an existing tenancy. When asked to produce documentation, we were provided with a handwritten piece of stained notebook paper with some scribble on it.
Basically, this tenant had befriended the Landlord and convinced her to let them rent the home on a month to month basis for $1000/month in the Rosemont area. Now, they were over 1 … (1 comments)
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landlord services: Landlord's Learning Center- Firm But Fair- A Practical Guide to Tenant/Landlord Relations - 11/02/08 11:43 PM
We signed up a new client this weekend, a very nice woman with a problem tenant in her unit. When I asked her to describe the situation, I was not very surprised, having heard the story a hundred times before over the past 16 years as a Sacramento property manager.
The tenant said they'd pay last week, but they did not. The story keeps changing, and now they were 1.5 months behind on the rent. This was the reason she was signing up for property management. She was hoping that we could get her tenant back on track. I hated to … (1 comments)
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landlord services: Working on the Weekends? Sacramento Property Management at it's Best - 11/01/08 12:03 PM
It is a gray, wet morning here in Northern CA. After a night of handing our candy to ghouls, ghosts and goblins, I settled in for some cheesy horror movies and a well deserved rest.
November 1, 2008. I turned 41 today. It doesn't feel all that different from 40. My wife and I had our coffee, charged our digital camera, prepared our documentation, and got ready to go to Elk Grove for an 11:00 am move-in appointment.
You see, we work when there is work, sometimes 14-21 days in a row if duties call for it. We are a small … (2 comments)
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landlord services: Happy Halloween From Investors Choice Property Management- Have You Checked Your Rental Property Lately? - 10/31/08 06:21 PM
Landlords- Remember to check up on your vacant rentals, or hire a good property manager to do it for you.
We will be visiting each of our vacancies tomorrow to make sure no ghosts or goblins (or vandalizing youth) did any harm over All Hallows Eve.
Does Your Property Manager Conduct Exterior Inspections at Regular Intervals?
Most companies do not, or they choose their words carefully, offering "periodic" check-ups. In our industry, "periodic" means "hardly ever". Others charge a fee for driving by, but aren't the Landlords already paying a management fee for that?
ICPM conducts quarterly exterior checkups throughout the … (0 comments)
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landlord services: New City of Sacramento Inspection Ordinance- Good Idea or Blatant Money Grab? - 10/28/08 01:06 PM
If you are a Landlord with a rental unit within the City of Sacramento, you've probably heard about the new inspection law that passed. As a property manager, we have been party to several inspections now, with more to come as we manage approximately 25 properties within the City limits.
Before you get you inspection notice, take the time to inspect your property to see if you are likely to pass. Bear in mind, these code enforcement officers are looking for ANYTHING to write your property up for, including:
1. Abandoned or inoperable vehicles
2. Overgrown vegetation, or trash debris of … (1 comments)
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landlord services: Landlord's Learning Center- Beware the A.D.A. Scammers, A Cautionary Tale of Avoiding Extortion~ - 10/27/08 07:41 PM
As the Broker/Owner of a small (100 single family units) property management company, I try to stay on top of the learning curve. By attending classes on a yearly basis, I keep up to date on legal issues affecting our industry.
I had the privilege of attending a class sponsored by the local Rental Housing Association. The subject was ADA Compliance. ADA (Americans with Disabilities Act) was created to insure fair and equal treatment of people with disabilities. Unfortunately, with any new law comes a host of people trying to capitalize on it.
One common area where ADA is used to … (0 comments)
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landlord services: Landlord's Learning Center: Sales, Management and Maintenance- Three Services Often Linked Together, But Best Left Apart. - 10/27/08 05:47 PM
We've all heard the tag lines "all under one roof", or "big savings with our in-house services", or "one-stop shopping". They all sound like great ideas, as they insinuate that we are receiving a bargain by getting more than one service from the same place.
Such is the case with diversified companies that do property management. The most common examples are the Management and Sales company, followed by the Management and Maintenance company. As a Property Management Broker with 16 years experience doing only property management, I have my own beliefs on the subject of diversification, especially when it leads to … (0 comments)
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landlord services: Landlord's Learning Center- Pricing Your Rental Property in Today's Competitive Market - 10/27/08 04:41 PM
Given the large amount of vacant inventory on the rental market, it is important to establish a fair rental value based on the demand in your area. Here are a few suggestions:
1. Property Managers. A knowledgeable property manager can accurately predict the rental range in an area. Some can provide additional resources that can minimize the "guess work". One example is a rental housing survey, such as the one available on our website at www.investorschoicepm.com. Landlords should be wary of any property manager than lets an owner pick his/her starting price with little or no input.
2. Craigslist can be … (5 comments)
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landlord services: Landlord's Learning Center- Big Management vs. Effective Management - 10/26/08 02:55 PM
As a small, service based property management company, I have a biased view of the situation. Each day we strive to make our presence known to consumers, depending largely on word-of-mouth referrals. Our larger competitors outspend us 100 fold to attract vast quantities of new clients to fill their coffers. Fortunately, we measure our success on a different scale, keeping our clients satisfied and being willing to sacrifice some profit margin in exchange for the satisfaction of a job done well. After 16 years in the industry, I've had the chance to make a few observations along the way, so here … (0 comments)
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landlord services: Landlord's Learning Center: Psychology of Landlord/Tenant Relations 101 - 10/26/08 01:38 PM
If you have been a Landlord for any length of time, you've probably dealt with your share of problem tenants, perhaps even evicted one. Here are a few tips towards maintaining a healthy business relationship with your tenant:
1. Set the boundaries. As a property manager for the past 16 years, many tenants have tried to "buddy up" with their manager or the landlord. We cannot discourage this enough, as a tenant that thinks of you as their "friend" is far more likely to exploit that perceived relationship. Example: "Hello friend, is it ok if I pay you half now and … (0 comments)
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landlord services: Landlord's Learning Center: Have a Condo? Find Out if You Have "Soft Plumbing" - 10/26/08 12:59 PM
A landlord recently told me a story about how his condo in Natomas was flooded out by a prior tenant.
The tenant went to hang a small picture in the bathroom, and used a typical carpentry nail on the wall to hang the frame. Unfortunately, when the nail pierced the sheetrock, it also pierced the soft plumbing lines that ran through the walls, causing a spout of water inside the wall that went undetected until the unit was partially flooded.
If you have soft plumbing in your walls, it is imperative that you disclose this fact prominantly in your … (5 comments)
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landlord services: Landlord's Learning Center: A Few Tenant Screening Tips For D.I.Y. Landlords~ - 10/26/08 12:36 PM
Taking the time to screen potential tenants properly can help minimize risk and lead to a better long-term tenancy. Everyone knows the basics- you need to check credit, income and history. Here are a few helpful tips that you may not have considered:
1. List your qualifications in writing, either in your online ad, on your application, or both. Having the qualifications in writing minimizes conflict, helps the unqualified applicants "weed themselves out", and also limits liability as you have the written proof to fall back on if someone claims you declined their application based on some discriminatory statute, rather … (1 comments)
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landlord services: Landlord's Learning Center: Winter Chills Are Coming. Are Your Pipes Wrapped? - 10/26/08 01:23 AM
I remember growing up how I always loved the wind and the rain, but as a property manager during the winter, all I can think about during a storm are my roofs (will they leak) and my fences (will they fall).
Before the mercury plunges, make it a point to wrap your pipes. It's cheap, effective, and sure beats having the plumbing burst in the ceiling on a chilly morning.
If you are headed over to your rental anyways (I have a few homes to inspect out of the 100 or so I manage), check your smoke alarm and … (0 comments)
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Thomas Martin-BROKER, PROPERTY MANAGER Property Manager in Sacramento, Folsom
Sacramento,
CA
More about me…
Investors Choice Property Management
Address: 3017 Douglas Blvd. #300, Roseville, CA, 95661
Office Phone: (916) 770-9707
Cell Phone: (916) 770-9707
Email Me
A well educated Landlord makes more informed decisions, which in turn makes them a quality client for an effective Property Manager like ICPM. Our blog is dedicated towards educating consumers and agents on the finer points of Property Management, while helping them to steer clear of pitfalls and poor business practices.
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