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Add You - Eleven Key Attributes of a Good Property Manager
Hip hop and urban wear sellers need innovative ideas to increase their sales.The following 3 great ideas are perfect sellers for retailers, eBay sellers, and online businesses looking to tap into the hip hop and urban market.Hip Hop Seller #1 Rap CDs from up and coming rappers.This strategy has two important components to it. By offering CDs of rappers which are not well known you will be standing out from your competition.Since most other hip hop and urban sellers will not carry the CDs, you can capture more sales.The second component is an increase in your street credibility. Buyers will consider you a serious hip hop vendor since you carry merchandise that other sellers don’t. You will also gain a reputation as someone who has his finger on the pulse of the hip hop scene.Hip Hop Seller #2New urban wear brands.Many urban brands start gaining popularity on the street before national vendors carry them. Stock these brands and you will be staying one st
3. Must be Detail Oriented and Organized
Managers collect the rent daily, and must ensure that each rent is paid and posted to the tenants’ account as received. Financial records detailing each and every rent transaction are kept, either by rent ca
Every month it seems like there is more month and less money left at the end of each month. Sound familiar? A part time job may be the answer.No, you should not just think about a second job at your local hardware store or pizza palace. You should try to use your spare time to do some freelance work.Using freelance work, you can add to your income while acquiring customers and providing services in your spare time. There is no need to go find a low-paying second job at night or on the weekends. Now there is a much nicer alternative with much better hours and pay. You can even do work from your own home.With freelance work, you are not limited by transportation, childcare restrictions or geographical location. You can even do some great work for a company located half way around the world.Furthermore, becoming a part-time freelance professional is quite easy.First, find a good database, like GoFreelance, and search for jobs in your current field or in something that int
The Property manager has a fiduciary relationship with the management company and property owner. A fiduciary relationship is one that is based on a mutual trust and complete confidence in one another.
The Property Manager is provided an owner’s real estate portfolio to manage to its “highest and best use” in exchange for an employment contract or salary. Real estate assignments for the property manager includes apartment buildings, iniums, hotels, storage facilities, shopping centers, office buildings, government subsidized properties, rooming houses, abandoned buildings and plots of vacant land, to name a few.
I have managed almost all of the above types of properties for over twenty years. I have managed public and private housing, for non-profit organizations, for the federal government, and for private developers and real estate investors. I also owned my own property management company for eight years. I now teach, speak, and write about property management standards and techniques. Here are some crucial skills, which I know from first hand experience, must be accepted as required attributes and learned skills in order to be a good property manager.
1. Must Know and Stay Current on Local Ordinances and State Laws
Managers are required to perform their work according to the laws of the land. The government (city, state, and federal) dictates how real estate is to be managed, from requiring a real estate license (depending on the state), to the use of the real estate (such as rent control laws). From proper trash removal to how and where we must keep security deposits, the manager has to keep abreast of the many legal requirements of managing real estate. If a mistake is made or a task is forgotten, it could cost the owner his or her property, and/or a management company’s reputation, loss of the account, or even the loss of real estate licenses.
2. Must Be Highly Ethical and Honest
Property Managers work on the Honor Code when they handle other people’s money. By collecting rent, security deposits, laundry machine money et al, the property manager holds a fiduciary relationship with the property owner and/or management company. The owner entrusts the property with thousands of dollars each month, plus the value of the real estate itself. The manager is hired to perform at his or her highest level of integrity. On a daily basis, the property manager’s good judgment and sense of what is right and wrong is called into play.
3. Must be Detail Oriented and Organized
Managers collect the rent daily, and must ensure that each rent is paid and posted to the tenants’ account as received. Financial records detailing each and every rent transaction are kept, either by rent car
Finally, we are beginning to see real serious consequences for some of the players in the frauds that have been so prominent in the recent news. A third Enron executive is now sitting in a jail cell, and one WorldCom top dog has been arrested. Even Martha Stewart has finally been indicted.It’s about time!Too many have turned a blind eye to these cases. I would argue that this callous disregard has serious implications for free markets worldwide. America is the image of how a free-market works, and the world is watching.In nations where fraud and corruption are tolerated, free markets don’t last long. Already, many former communist nations are on the road back toward socialism, because brief attempts at developing a functional market-based system failed. These failures usually were the result of weak legal structures and the domination of a class of mafia businessmen who defrauded citizens without penalty. Such a system is doomed. Any nation that tolerates fraud and corruption is doomed to
I have managed almost all of the above types of properties for over twenty years. I have managed public and private housing, for non-profit organizations, for the federal government, and for private developers and real estate investors. I also owned my own property management company for eight years. I now teach, speak, and write about property management standards and techniques. Here are some crucial skills, which I know from first hand experience, must be accepted as required attributes and learned skills in order to be a good property manager.
1. Must Know and Stay Current on Local Ordinances and State Laws
Managers are required to perform their work according to the laws of the land. The government (city, state, and federal) dictates how real estate is to be managed, from requiring a real estate license (depending on the state), to the use of the real estate (such as rent control laws). From proper trash removal to how and where we must keep security deposits, the manager has to keep abreast of the many legal requirements of managing real estate. If a mistake is made or a task is forgotten, it could cost the owner his or her property, and/or a management company’s reputation, loss of the account, or even the loss of real estate licenses.
2. Must Be Highly Ethical and Honest
Property Managers work on the Honor Code when they handle other people’s money. By collecting rent, security deposits, laundry machine money et al, the property manager holds a fiduciary relationship with the property owner and/or management company. The owner entrusts the property with thousands of dollars each month, plus the value of the real estate itself. The manager is hired to perform at his or her highest level of integrity. On a daily basis, the property manager’s good judgment and sense of what is right and wrong is called into play.
3. Must be Detail Oriented and Organized
Managers collect the rent daily, and must ensure that each rent is paid and posted to the tenants’ account as received. Financial records detailing each and every rent transaction are kept, either by rent ca
As Chris Crouch stated so well in The Contented Achiever, many companies are experiencing a cutback in workforce, but not in workload! For the employees left behind to pick up the pieces, accessing valuable company information becomes increasingly complex -- whether it’s a password, the name of a vendor for a product purchased years ago, or vital information about an important client or prospect.The computer, while originally touted as the ultimate organization tool, has in reality increased our ability to create a faster mess! Being disorganized creates inefficiency. Inefficiency costs money, causes unnecessary stress, precipitates poor customer service, and ultimate loss of sales.Here are five essential questions to ask about the information in your business:1) What information do we need to do business? 2) Who in the organization needs access to that information? 3) In what form should the information be kept? 4) How long do we need to keep the information? 5) How
1. Must Know and Stay Current on Local Ordinances and State Laws
Managers are required to perform their work according to the laws of the land. The government (city, state, and federal) dictates how real estate is to be managed, from requiring a real estate license (depending on the state), to the use of the real estate (such as rent control laws). From proper trash removal to how and where we must keep security deposits, the manager has to keep abreast of the many legal requirements of managing real estate. If a mistake is made or a task is forgotten, it could cost the owner his or her property, and/or a management company’s reputation, loss of the account, or even the loss of real estate licenses.
2. Must Be Highly Ethical and Honest
Property Managers work on the Honor Code when they handle other people’s money. By collecting rent, security deposits, laundry machine money et al, the property manager holds a fiduciary relationship with the property owner and/or management company. The owner entrusts the property with thousands of dollars each month, plus the value of the real estate itself. The manager is hired to perform at his or her highest level of integrity. On a daily basis, the property manager’s good judgment and sense of what is right and wrong is called into play.
3. Must be Detail Oriented and Organized
Managers collect the rent daily, and must ensure that each rent is paid and posted to the tenants’ account as received. Financial records detailing each and every rent transaction are kept, either by rent ca
Warmer weather has arrived. April showers have brought May flowers. Now it’s time to get out and enjoy that fresh air!Office workers spend the majority of their days inside, toiling in their little cubicles. Many of these workers aren’t even near a window. Have any of you been surprised, upon leaving work at 5:00, to see that it rained sometime that afternoon?These same office workers are seated, day in and day out, in their sedentary jobs. It’s easy to experience burnout that way, especially when deprived of Vitamin D. What’s one natural way we get Vitamin D? Sunlight. But how, you may ask, do we ever get to see the sun when we’re chained to our desks? How can we avoid burnout and depression?The answer to those questions is easy. We must take advantage of lunchtime and get outside.Pack a lunch, and leave the building at the noon hour. Find a grassy area or a bench at a park and enjoy your mini-picnic. Downtown areas have benches near fountains or works of art for enjoya
2. Must Be Highly Ethical and Honest
Property Managers work on the Honor Code when they handle other people’s money. By collecting rent, security deposits, laundry machine money et al, the property manager holds a fiduciary relationship with the property owner and/or management company. The owner entrusts the property with thousands of dollars each month, plus the value of the real estate itself. The manager is hired to perform at his or her highest level of integrity. On a daily basis, the property manager’s good judgment and sense of what is right and wrong is called into play.
3. Must be Detail Oriented and Organized
Managers collect the rent daily, and must ensure that each rent is paid and posted to the tenants’ account as received. Financial records detailing each and every rent transaction are kept, either by rent ca
Are you opening a dollar store? If so never lose sight of the importance of cost reduction. In fact cost reduction efforts should take place from the day you start your planning. One of the major areas of cost reduction focus is the lease agreement for the store.The lease negotiations and thus your opportunity to save money happen prior to opening a dollar store. While the actual lease dollar amount is important to consider, there are other factors as well. They include any triple net (NNN) clauses and exactly what the added charges are for the NNN.Three tips to consider when opening a dollar store:Tip #1: Seek the advice of an accountant and attorney who specialize in discount retailing before signing any lease documents. These professionals can save you money.Tip #2: Examine lease costs as a percentage of sales. Also calculate sales per square foot of space. As you add or delete space you can better measure and understand the impacts.Tip #3: Examine lease costs for similar
3. Must be Detail Oriented and Organized
Managers collect the rent daily, and must ensure that each rent is paid and posted to the tenants’ account as received. Financial records detailing each and every rent transaction are kept, either by rent cards, or on the computer. Lease expirations and renewals, rent increase letters, and rent invoices must be mailed on time. lines for court appearances must be kept, and clients must receive their written monthly report of operations. A skilled property manager is able to multi-task, keep site files organized, and prioritize repairs and assignments.
4. Must Have Good Communication Skills
Managers must be able to communicate with people from all walks of life, ures, ethnicities, and personalities. Managers must be able to articulate their cases in front of judges, talk to the owner, negotiate with vendors as well as speak appropriately with tenants, who are often frustrated, upset, or angry. A good manager must be able to stay calm, and communicate in a professional manner. Familiarity speaking in other languages is always a plus.
5. Must have Good Computer Skills
Computer competency is a technical skill, like driving, typing, etc. The use of email, mail merge, and faxing through the computer is at the heart of property management today. This is especially true if the property is on one part of the city or state, and the home office is a distance away from the site. If a manager does not have a solid command of the computer and its basic programs, such as Microsoft Word and the spreadsheet Excel, you may be hard pressed to find an administrative position in this field.
6. Should Like Working with the Public
If everyone paid the rent on time by the fifth day of each month, the manager would not have rent collection work to do. If a property never had problems, such as toilet overflows, lost keys, or defective smoke detectors, a property manager would have little to do. Therefore, it is important that a manager enjoy dealing with people with problems. A manager should at least like helping tenants with dignity, and in a responsible manager. If you do not like being interrupted several times a day with a dilemma to solve, this type of job may not be for you.
7. Must Be Patient and Have a Sense of Humor
There is some pressure involved working with the public. There are days when nothing seems to go right, and if you happen to have a headache that day, it could be a long 9 to 5. A calm personality or a good sense of humor will take you a long way in property management. If you tend to be high-strung, anxious, or become angry or impatient while working within lines or with people with problems, you may want to re-consider taking on this professi
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