PropertyManagementMaven: Wallace S. Gibson CPM * GRI (Gibson Management Group, Ltd.)

Long time #24 sponsor DuPont is giving up primary sponsorship of the Hendrick Motorsport's Chevrolet driven by 4X NASCAR Champ Jeff Gordon in 2011....so HMS is out searching for sponsorship.  NASCAR has wanted WalMart to come into the sport for years and while preliminary discussions are ongoing, many of the NASCAR consumer packaged goods sponsors such as Coke, Kraft, MillerCoors and Proctor and Gamble are NOT waiting for the deal to ink.

They are ALREADY meeting and signing deals in order to be in a position for the beginning of 2012....THE Daytona 500 is ONLY 6 months away!

http://www.nascar.com/2010/news/business/08/24/jgordon.walmart.sponsor.discussions/index.html

Much has been in the news recently about "government" job pay scale FAR exceeding that of the "private" sector.  This being ALSO being played out in our area's rental market as many new-hires for government and military positions are moving into the area and they are being subsidized by the government.

They are being put up in local hotels under TLA * temporary living arrangement (allowance) * while they take their time and look for rental housing.  Their household goods are enroute from their current home, again on the government's tab.  Many have housing allowances and are not effected by poor credit, unknown job prospects or the vagaries of the closing of the home they are selling.

Private/civilian rental prospects are making quick trips at their own expense to search for rental homes and are often at a disadvantage.  They have not done their homework on our area rental rates and they have no support or resources locally to advise them on their rental search.  They often take their valuable viewing time and schedule many viewings in outlying areas far from their employment prospects and often return to more desirable properties they have viewed only to be told the property has been rented.

Once a suitable rental home is selected, provide application paperwork and move-in monies and make arrangements to sign a lease ASAP

1.  Thou shalt not rent to friends or relatives.
This should be enhanced to include friends from church or co-workers.

2.  Thou shalt not show the unit until the property is rent-ready.
One of the BIGGEST problems tenants complain about is seeing a property while the landlord is in the midst of repairs and the repairs are not completed.

3.  Thou shalt not provide property keys without a signed lease and move-in monies in hand.
Landlords who don't have their paperwork in order BEFORE showing property often provide keys thinking they will have the paperwork completed later.

4.  Thou shalt not covet other landlord's employees or service personnel.
Before I provide a service person's name to someone, I get there permission and I KNOW they will get paid and treated RIGHT!

5.  Thou shalt not skip routine maintenance on my rental property.
If hauling a 2 story ladder to your rental property on the top of your new car is unappealing, have the gutters cleaned PROFESSIONALLY.

6.   Thou shalt not lower your tenant standards to rent your property.
Giving concessions is OK; however, lowing your standards is DOUBLE trouble.

7.    Thou shalt not NOT keep a set of keys to your property.
This is all too common.  At the cost of $2 per key, this is CHEAPER than dealing with a locksmith down the road.

8.    Thou shalt not allow residents to get behind on their rental payments.
Dealing with deliquent residents when you have an eviction court date seems to be easier than trying to connect with them over the phone.

9.  Thou shalt not NOT DOCUMENT the property condition when residents move in.
Many states do not require that landlords and tenants document the property condition at move-in, and they should.

10.  Thou shalt not NOT provide move-out cleaning instructions  to departing residents.

Tenants don't know what you expect and they forgot how CLEAN the unit was when they moved in.

The elder Bushes are vacationing at their home on Walker Point in Kennebunkport, Maine and during their vacation, they will screen the film "Mao's Last Dancer" about Li Cunxin who defected from China to the US in the 1980s.

The Bushes are featured in news footage as Li is held hostage in the Houston Chinese consulate for almost a day.  The Bushes intervened to have the dancer released and Barbara Bush was on the board of the Houston Ballet where Li became a principal dancer.

http://en.wikipedia.org/wiki/Mao's_Last_Dancer_(film)

Our area of VA is still at less than 5%.  Unskilled/blue color are the hardest hit.  I get rental inquiries and when I check where they are coming from and that they think they can IMMEDIATELY get a job, I advise them to call me when they get a job and have their first paycheck!