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Education |
Resources
PM Essentials: transitioning utilities to a Tenant account
This report will focus on the details of how to change the responsibility of the Excel Energy utility bill from the homeowner to the next tenant and how to be protected from undue liability.
PM Essentials: Section 8 Housing Program
This widley known and little understood program has a lot of ins and outs that a londord should consider. This paper explains the program's pros and cons of participating.
PM Essentials: Assessing Medium Multifamily properties for investment
This paper will cover some key considerations when investing in the mid-sized multifamily apartment rental market. Here the purchase price plays a much more important roll.
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PM Essentials: Assessing Small Multifamily properties for investment
There are a many things to consider when purchasing a multifamily property. This paper will cover some key considerations when investing in the multifamily apartment rental market
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PM Essentials: disaster recovery - Part 3: Tenant discplacement
This report is a continuation of disaster recovery issues. Any type of disaster event can and do have different repercussions to both the landlord as well as the tenant. Depending on the nature of the situation tenant displacement is a common issue as a result.
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PM Essentials: disaster recovery - Part 2: Subrogation
This report will explain an insurance term call Subrogation. In its most common usage Subrogation refers to circumstances in which an insurance company tries to recoup expenses for a claim it paid out when another party should have been responsible for paying at least a portion of that claim.
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PM Essentials: Disaster recovery - Part 1: fire
When there’s fire damage at a property it’s a very emotional experience for both the tenant as well as the owner. As an owner this might happen once or twice in a lifetime. As a tenant, they can lose personal possessions and be displaced for several weeks. This report will focus on what happens after the fire department has left.
PM Essentials: Sheriff evictions
This is one of the more unpleasant but common tasks in the property management business. To properly evict the landlord (or property manger) must provide anywhere from a 3 to 90-day notice. Once the property has been awarded back from the courts it’s time to go and reclaim the property.
PM Essentials: avoiding craigslist scams
The number of fake rental scams on Craigslist and other online classifieds continues to grow, with new aliases appearing daily. But while the names may change, the methods are always the same. These thieves, mainly based in Nigeria, the U.K. and the U.S., are out to steal renter’s money and identity.
PM Essentials: finding quality tenants
One of the biggest challenges in property management from both an owner and property manager perspective is finding quality tenants. And the most commonly missed piece that is the understanding that finding great tenants starts far before the application process...
PM Essentials: Warranty of habitability
Warranty of Habitability is a federal law passed in 2008 that protects tenants from hazardous living conditions. Warranty of habitability, generally, is a warranty implied by law that by leasing a residential property, the lessor is promising that the property is safe to be lived in. Warrant of habitability can be breached if there is no heat, hot water, or other essential services.
PM Essentials: Bank Reconciliations
Professional property managers have very strict legal requirements regarding how they handle incoming and outgoing monies that belong to the tenant or the owner. There are also strict, but seldom followed requirements regarding bank reconciliations.
PM Essentials: A.R.E's
An Agreement Regarding Eviction (ARE) is, essentially, a payment plan to help a tenant make their payments on time. If a tenant misses a monthly payment, per the terms of the lease agreement, the property manager has the option to create an A.R.E to help the tenant stay in the property without having to conduct an actual eviction.
PM Essentials: fair Housing
Fair Housing is quite an extensive topic in real estate and, specifically, in property management. It’s a closely monitored by the U.S. Department of Housing and Urban Development (HUD) and has huge legal ramifications if not followed correctly.
PM Essentials: Lease Applications
The lease application process is very important, as it represents the first time a landlord and tenant have a legal obligation to one another. Both the applicant and the application must be processes methodically, consistently and correctly...
PM Essentials: Truth in Advertising
Advertising a rental property correctly is incredibly important, as there can be significant financial and criminal penalties involved if done improperly and bad events happen.
PM Essentials: Normal Wear and Tear
Normal wear and tear is a very important topic because it’s where landlords and property managers often run into difficulties when over-charging when conducting a security deposit disposition.
PM Essentials: Security deposit disposition
By Colorado Real Estate law, a landlord has 30 days to return the tenants security deposit after t have regained legal possession of the property – unless, they otherwise state in their lease: up to 60 days. No more than that.
PM Essentials: Medical Marijuana
Property management usually has more to do with ‘grey’ areas than it does with black and white. There is no area more grey right now than with medical marijuana.
PM Essentials: pest control And the pest control addendum
Pest control has once again taken front seat as a critical topic in property management. One of the main reasons is that, with the banning off the pesticide DDT a few years back, bedbugs (and a whole new class of unsavory pests) are causing massive amounts of damage… and headaches for both tenants and landlords.
