Property Management Blog

I get asked on a daily basis what the housing market is going to look like in 2022.  In 2020 and 2021, when COVID was in full swing, I made a very non-committal response to this question; “Buy any property you want to hold long term and sell any that you do not.”  With the market so good, selling was a great option, ...

Did you know that our tenants are raving fans of technology? Whether it is the ability to pay rent through our tenant portal or at CVS, 7/11 or Walmart, to put in maintenance requests with photos so we can get the right vendor out the first time, our emergency maintenance line to troubleshoot and triage emergencies right away (even at 2 i...

I have heard many people say that inflation in our housing market will lead to higher interest rates which will ultimately lead to an affordability crisis and a significant drop in housing prices.  I have not seen anything to quantify this so I decided to do just this; determine for a given interest rate, what the purchase price...

Our property management company has been able to help many tenants struggling with the financial crisis.  To date, our company has collected $245,000 to help our owners, equivalent to a full month’s rent of our portfolio.  This has been a blessing to many but now is becoming a curse for the following four reasons.1. We hav...

Did you know that not all credit scores are created equal? I like to tell the story of my all-time favorite tenant.  My favorite tenant had a credit score when I put him into a house I own of less than 600.  While frequently anything below 650 is a definite no for most landlords renting houses, I like to analyze the reason ...

For you to be a great owner/landlord or property manager, you must learn the difference between treating the problem versus the symptom. When a tenant informs them of mice in the property, a good property manager will first get them to lay down traps and see how many are occurring and then treat the property with a professional when deter...

My mom had some sayings which resonate with me and my brothers especially during challenging times.  One saying is that, “It is not what happens that matters, but how you respond to what happens.”  Other famous sayings from our society is, “When life gives you lemons, make lemonade.” Too often, something...

I have been talking with lots of owners, vendors, tenants, neighbors and friends through this Coronavirus.  Universally, I am told that no one has ever seen this in their entire lifetime.  My brother Luke, who is much better at dealing with high level crises, said that we are at “war right now”.  It is not a tra...

Investing in a rental property can be a simple way to grow your financial portfolio. It can also be a major undertaking, especially if you are new to the real estate investment world. With the right help, however, you can go from a novice landlord to an experienced real estate entrepreneur. Interested in learning more? If so, then you ne...

As I started investing, I came to realize what to look for in a property to maximize its rental potential.  One of our property managers came up with the acronym “PPPLLL” and I really like it.  This stands for the following:P – Price.  If your rental price is too high, you will not get any i...