rental property management: OK...Now is the Time to Change Hats....Agent to Property Manager - 01/28/20 07:27 AM
As a real estate agent, the client has total input * you have a listing or a buyer broker agreement * which is job specific * SELL MY HOUSE or GET ME A NEW HOME.
 
Becoming a property manager means your employement may not be finite or dependent upon an end result.  If you do LEASE ONLY/TENANT LOCATION, then that is the event that governs your employment; however, property management agreements are hirings for numerous events that may be happening all at the same time.
 
To get the property rented, you may have to organize cleaning, repairs, yard work, and/or upgrades.  Your management … (3 comments)

rental property management: FINALLY - A Movie about Property Managers - 09/21/19 05:22 PM
Well....they were called AGENTS, then ESTATE AGENTS; however, they were really property managers...thank you Downton Abbey.
 
WHAT? You say were are the property managers? In the early episodes of the PBS series (you can see FREE on Amazon Prime) the finances of the Crawley house were in shambles because eldest daughter, Mary, could not inherit the estate or her American heiress mother’s money. Ways had to be found to make the estate - land and tenant farms - pay more income for the family. The family was downsizing staff as males were leaving to go to WWI and females left for jobs … (1 comments)

rental property management: Nobody Likes Being Called a LIAR! Part Deux - 01/15/15 06:42 PM
During January and February, I take the time "refine" my resident handbook that accompanies my leases, my written material * cleaning instructions * as well as my move-in procedure.
 
My PRIOR move-in procedure including new front door mat (old one to the deck, back entry or garage), water bottles in the refrigerator, new toilet paper rolls on holders, air scent canisters on refrigerator and in the master bedroom closet and NEW clear shower curtain liners and rings on shower rods...these I usually put up while prepping the property for showing as I have a supply in my car and want the fold-lines to … (11 comments)

rental property management: It's WAAAAY Too Early in the Rental Season to Get THIS Frustrated! - 01/12/15 05:27 AM
I already have a vew rental homes posted on my web site for occupancy this summer where I know that the residents will be leaving....and ALREADY rental prospects are getting frustrated with the VERY SLIM choices they have.
 
While I will certainly have more rental homes available after I send out my February rental increases, that will place my increase in inventory directly in line with the new "matches" to the UVa Medical School who need to secure their rental housing for move-in the last week of June.
 
So when rental prospects who really want a house are not … (2 comments)

rental property management: YES! I CAN Say That This Rental Listing is in EXCELLENT Condition! - 01/09/15 09:23 PM
In my Craigslist listings, I frequently indicate that my rental listings are in EXCELLENT or IMMACULATE condition and when I show occupied homes, I get the response that the home does not look like "tenants" live there.
 

 
I'm not sure how a property is supposed to look that is tenant occupied; however, just like the saying..."there are no BAD dogs, only BAD owners"...I suspect...."there are no occupied rental homes that are in BAD condition unless the landlord/property manager did not TRAIN their residents not to be BAD".
 
I go to great lenghts to make sure that my … (6 comments)

rental property management: Tenants THANK ME for NOT Sending My Repairman! - 01/06/15 12:00 AM
We are in SEVERE flu season * hand washing and face masks are everywhere * and while I don't have a lot of kids in my life, I no longer shake hands with rental prospects when showing properties and I have curtailed my desire to be Southern "kissing cousins".
 
So when my repairman's grandson/helper got the flu, I started advising residents with repair issues that I would not be sending him to their home until both of them were well.  I am fortunate to have a great selection of appliance, HVAC repair service firms as well as plumber and yard … (4 comments)

rental property management: Mr. Property Owner...NO....This is NO LONGER Your Property! - 01/05/15 12:03 AM
When property owners become rental property owners, they often forget that the property is NO LONGER THEIRS'.
 
YES....they can pay the mortgage, insurance, property taxes, maintenance and repair costs....and
 
YES....they can receive beneficial tax deductions against their income....and
 
YES....they may get some appreciation if they sell it in the future....and
 
YES....they may get some equity by having their mortgage payments subsidized by rental income; however,
 
THEY CAN NOT make appointments any time they want and expect their residents to stay home to 1) show their homes to real estate agents to get THREE CMAs; nor do … (23 comments)

rental property management: If They Are SO WILLING to Break their Lease, Why Would I Want Them? - 01/01/15 07:11 PM
Now is a tough time of year to rent rental homes - for landlords and rental prospects.
 
Maybe it because they are fed up with (1) the noise from their neighbors; (2) too high utilities; (3) or have a baby coming in 7 months....the seem to contact me saying they HAVE A LEASE and NEED TO MOVE.
 
A recent prospect indicated their lease was not up for 9 more months; however, the WANTED to move.
 
This brings me to THEIR 2 dilemma....what landlord would willingly take rental prospects who are demonstrating that they are willing to break their lease AND … (11 comments)

rental property management: They STILL Keep Saying I Would Not MAKE IT! Part 1 - 12/31/14 10:07 PM
In early December, I received the Realtor Emeritus designation from NAR. There were 2 of us awarded this designation out of over 600 members of our association.
 
To be fair, the NAR emeritus application wanted proof of my continued membership in NAR for the last 40 years.  I almost did not complete the form as I have been an NAR member in 3 states and 4 associations under 3 DIFFERENT last names.
 
I did have my GRI designation certificate from the University of Hawaii Small Business School from 1973.  
 
In the "olden daze", the GRI designation was … (35 comments)

rental property management: 'Tis the $eason to Return Tenants' $ecurity Deposits..Do it like a PRO - 08/22/14 11:47 PM
‘Tis the season to return security deposits and while many DIY landlords cringe at the thought of their departing residents not agreeing with their depo$it return, professional property managers have “tips” for doing it RIGHT.
NUMBER 1:  Whether your business is an LLC or a corporation, name your attorney as the “registered agent” with your state corporation department. When looking for the proper person to serve court documents on, state web sites are the first stop.  If the registered agent is an attorney it tells the plaintiff/tenant 2 things...1) since the registered agent is an attorney, their suit probably won’t go … (22 comments)

rental property management: Want a Home With NO PRIOR PET in Residence? GO BUY NEW CONSTRUCTION - 07/22/14 10:19 PM
Life continues to be a challenge for many passive-aggressive rental prospects new to the area's rental market.
 
A rental prospect contacted me this AM with questions that were easily answered on the property listings on my web site AND wanted my assurances that there had been no CATS at the properties.
 
....like EVER? I wondered.
 

Unless she is going to find a new INVESTOR OWNED property that has never been lived in/had pets in and is willing live with the "out gassing" of the new carpet, I could never advise anyone that there had been NO CAT … (11 comments)

rental property management: YES! Schools are IMPORTANT.....Even When Selecting a Rental Home - 07/21/14 08:50 PM
YES! Schools are IMPORTANT!
 
Although they rarely mention SCHOOLS in the "reality" real estate shows, the REALITY is that they are really important.
 
In our area, a new townhouse project started about 5 years ago was going to feed elementary and middle school children to a highly ranked county school compound because another, larger rental housing complex was going to be built that would feed into a NEWER elementary school in a more sparcely populated area of the county.

When the second project did not materialize, the NEW residents to the first complex found that children had to go … (8 comments)

rental property management: Want to do Rental Leasing....UN-learn What You Know about Writing Ads! - 07/04/14 12:03 AM
I have local property management friends who are taking on UNsold listing for property management as the homeowners leave the area.
 
They think nothing of taking the MLS property description and using it in their web advertising for the property FOR RENT.
 
In my experience, I have never had a rental prospect ask if the home had trey ceilings, chair railings, 9' ceilings OR crown molding...yet, I keep seeing this irrelevant information in rental property ads on Craigslist and other rental web sites.

Rental prospects DO WANT TO KNOW if the property has a GARAGE, a FENCED YARD … (13 comments)

rental property management: SmartPhone Property Manager (Landlord)#6...YES! I have a Bluetooth! - 06/28/14 10:09 PM
At  last, both of my cars have bluetooth....now that I have my latest "dog car", both of my cars have bluetooth so that each car can now be "paired" with my cel phone....YEAH!

In addition to being HANDS-FREE, the phone system in my cars (both Lexus) actually extends the range of my cel phone coverage.  Where I used to have dropped cel phone calls, the calls now continue to be connected and clear.
 
NO MORE MESSY EAR BUDS to have to charge and that get lost!  DOUBLE YEAH!
 
NOW that I have this technology whipped...I am on to … (10 comments)

rental property management: Landlords....Be CAREFUL What Car You Drive to Your Rental Properties - 06/26/14 09:23 PM
This article from the Contra Costa Times (SF Bay Area of CA) shows the CONTINUAL perception that Landlords are RICH.
 
CA Landlord Drives Mercedes to Collect Rent$
 
The second paragraph points out that the Marin County (very RICH) retired architect drives to his Port Richmond (very POOR) rental properties in a Mercedes.....can I get a little Janis Joplin here!
 
...so while the 74 year old retired Marin architect can certainly drive whatever car he wants for FUN....maybe he should have a 10 year old “beater” truck with good tires and locking doors to go collect his rent in … (25 comments)

rental property management: Adventures in HVAC Condensate Lines....I Knew THIS Would Happen - 06/25/14 09:37 PM
I’m on my SECOND adventure in AC condensate lines this summer.
 
Tenant wants RECONSIDERATION of $ervice Call
 
My first episode happened when my tenant’s DOG food ended up in the townhouse condensate line because of a MOUSE.
 
My current episode is the HOA notifying my property owner that his condo’s condensate line is leaking into the garage of the unit below.
 
No problemo....I wanted to initiate using my HVAC vendor to service this unit so I will take them a key and the tenant’s contact information this AM.
 
I had offered 2X since February to have … (4 comments)

rental property management: I'll Consider a Rent Reduction....What is your Credit Score? - 06/23/14 03:16 AM
With the local rental market for single family homes getting VERY tight....rental prospects are having to look outside of their housing budget for suitable housing.

We have lots of new apartments and townhouses for rent in our area; however, few single family homes are available because...1) many that would be in the rental pool are now for sale; and 2) people with GREAT CREDIT are more desirable rental prospects than those who have to rent UP to get what they need for their family.
 
Frequently, even before they view the property, rental prospects want to know if the rent … (6 comments)

rental property management: Here...Let Me Do That For You! - 06/18/14 11:50 PM

I have several new properties where the owners are relocating elsewhere and moving out of their home which I will be managing.  This will be a very hectic time for them so taking as much of a load off of them is a benefit for us all.
 
In my initial property presentation, my frequent comment is that “I Can Do That For You!”   I can:
 
1) have repairs and painting done so that the property shows BEST in photos and rental prospect viewings;
 
2) have the property cleaned PROFESSIONALLY after move-out so that the first renters … (3 comments)

rental property management: Not ALL Tenants are JERKS! Some can Admit their Mistake and Apologize - 06/17/14 07:18 AM
Wallace, 
 
I have been called many things - impatient, arrogant, condescending... but I am always able to admit when I am wrong. Please accept my heartfelt apology for my assumption that our cooling issue was some sort of intentional oversight or what have you. I was tired, sore, and hot and if I am honest, really cranky. Not that it makes my behavior excusable, it had just been a long couple of days. 
The house is blissfully cool and I just set up a regular maintenance appointment with AirFlow. I appreciate all that you do and in the future will … (9 comments)

rental property management: SmartPhone Property Manager (Landlord) #5 - TEXT when you VACANT! - 06/16/14 10:46 PM
I am in HEAVY move-out mode with approximately 15 residents moving between NOW and the end of July.
 
I have changed my move-out procedure as I experienced residents wanting to get “checked-out” at odd times over the last couple of years.
 
ENTER my SMARTYPHONE....to paraphrase The Eagles in Hotel California....You can check-out any time you like....just text me!  Yes, I am now requiring that residents leave their keys, garage opener(s) and forwarding address on a size #10 envelope ON THE KITCHEN COUNTER and that they TEXT me that they have left the property.

It eliminates (1) them having … (4 comments)

 
Wallace S. Gibson, CPM, LandlordWhisperer  (Gibson Management Group, Ltd.) Rainmaker large

Wallace S. Gibson, CPM

LandlordWhisperer

Charlottesville, VA

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Gibson Management Group, Ltd.

Office: (434) 825-1933

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