PropertyManagementMaven: December 2011

Are you a problem-solver, or a problem? Professional property Managers offer SOLUTIONS!

As a professional property manager, I am tasked with identifying the problem AND finding the solution BEFORE I call my client or customer about my CORRECTIVE actions!

Answer - drag a magnet along the parking lot....I always ask roofing contractors if they will do this AFTER REroofing one of my properties!

Via Alan May, Coldwell Banker Realtor® Evanston, Illinois Homes for Sale (Evanston Condos & Evanston Single Family Homes):

An agent in my office was just complaining to another agent in the office about how she'd had two flat-tires in our parking lot in the last few weeks.

She'd picked up to "screws" in her tires, and she's sure that they're from our parking lot.  Now we haven't been having any recent construction, so I find it confusing as to where/why we would have had screws in our parking lot.

Then she said the weirdest thing... she told the other agent that she was sure there were more screws out there, and people should "watch out".

The conversation was loud enough, I walked over... "So, are you telling me there are more screws on the ground in our parking lot?" I asked.

"Yes!" she said...

"And they're still out there", I asked incredulously

"I'm sure, yes"... she replied.

"There are loose screws out on the ground in our parking lot now!?...

"Yes!... why?"

"Well, did you just leave them there??"

"Yes, why... what should I do?"

"Well", I said angrily, as I gathered up my coat and flashlight to go touring the parking lot... "How about picking them up?"

Some people like to complain, and others solve problems.  I'm completely blown away that someone would know that there are loose screws in the parking lot, just waiting to embed themselves in someone else's tires, and they do nothing to prevent that from happening... either pick them up, or tell someone so they can pick them up.

"Why" she asked me "is it my responsibility?"

Sorry... she just doesn't get it.  It's not my responsibility either... but I can't, in good consciousness, walk away knowing that those screws are out there, and someone will get a flat-tire.

Sheesh!!!

ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate

Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com

Evanston Real Estate & North Shore Real Estate

    

Do not copy the content of this blog, without first contacting the author for permission.  Reblogging is allowed. All other use is strictly prohibited without express permission from me. This blog is tag-resistant... Do not tag me, I don't participate in tagging, no MeMe's don't even think about it

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Showing Property After Dark * If they CAN'T SEE IT * They will WANT to Come Back ANYWAY!

I have my FLASHLIGHT app on my EVO Android phone and tablet.  I always offer a lunch time showing slot OR weekend AM time slot rather than showing after 5P when IT IS DARK!

Via Stefanie Cohen, PA, ABR, SFR Prudential Florida Realty-Broward County (Cooper City, Weston, Davie, Pembroke Pines, and more!):

Showing Property After Dark is very common this time of year. While this in itself is nothing new, what is new, are the number of vacant properties on the market. More often than not, these vacant properties will not have electricity, and we will have to enter the property in the dark.

I have made it a point of always having a flashlight with me this time of year. In the last week or so, I have had to Show Property After Dark several times. I am working with someone looking for a single family home, and we have been meeting every day after work.

It can be quite erie to drive up to a dark house, and pull into the driveway when it is pitch black. We are in the suburbs and there are not many streetlights. I park in the driveway, open the car door, and am always relieved when the car lights go on! We get out of the car, walk up to the front door with the flashlight in tow. While I am fumbling with the lockbox trying to see the numbers, I always ask the buyer to hold my flashlight. Finally I retreive the key and slowly open the front door...what may we find??? Using the flashlight we look for lightswitches....sometimes we are in luck and the power will be on, but not always. 

While we may be in a fairly nice house, you simply cannot see it at night, and certainly not by flashlight alone. Even the nicest house will take on an erie feeling. The backyards are not visible at all, even by flashlight.

The other night we went through the whole routine, drove up to the dark house, got the flashlight out, opened the lockbox.....only to find NO KEY!! Well...so this wouldn't be a total waste of time, we used the flashlight to walk around the house...we opened the gate, walked past the hedges and into the backyard. We looked in the windows to see what we could. 

All in all....Showing Property After Dark is certainly not ideal, but when the buyers we are working with have no other available time, we do what we can do. After all...we are Realtors! And we will....Show Property After Dark.

Stefanie Cohen, PA, ABR, SFR

"I Love to Sell Real Estate in Florida and it Shows!"



Stefanie can be reached at 954-547-9203 or Scohen77@aol.com

www.StefanieLCohen.com




                                                     

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

LEASE Guarantors are NOT the same as the TENANTS * They should NOT have the same rights.

Checking with a fellow property manager I have mentored in the past to wish him a Happy New Year, he showed me a Small Claims Court warrant in debt he was just served.

The GUARANTOR of a lease is suing him for the return of the security deposit.  He asked me what I thought.

When I used guarantor agreements in the past, the agreement clearly stated that the GUARANTOR was not entitled to rights as the tenants under the lease.  They were ONLY guaranteeing the FINANCIAL performance of the LESSEES for the term of the original lease AND any renewal terms.

I don't know what their agreements say; however, their deposit return has the same OFFER in COMPROMISE wording that I have AND they use the same common law lease that I have that ONLY provides for attorney fees FOR the landlord/agent.

I offered him a copy of the letter I have that advises former residents who want to do such things AFTER they have cashed their deposit return check that they have 10 days to DISMISS the Small Claims court case against me OR 1) I will have my attorney appear at the trial date and remove the case to General District court so that he can represent my CORPORATION; 2) I will  COUNTERsue for my attorney fees, interest at 18% as provided in the lease and additional charges that where NOT charged in my original deposit return/Offer in Compromise; AND 3) that any judgement against them will be filed with the court * abstract of judgement * and that there is a $250 fee for RELEASING that lien if/when they pay it off.

DIY landlords and property managers who do not protect THEMSELVES and their CLIENTS do everyone a disservice. 


 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Check Out Your Landlord - it was BOUND to Happen

I saw the announcement for this new website/service and I thought it was a good idea BUT why aren't the BIG 3 SUPER Credit Bureaus doing this.  

Maybe they will get on the bandwagon since they have the resources to do this type of verification at their fingertips.  From their website....

Like most good ideas, CheckYourLandlord.com came about through a personal experience.

When one of the founders of CheckYourLandlord.com was looking to rent a house, he enlisted the help of a real estate broker who specializes in high-end properties.  The prospective renter and the broker both became skeptical about the ownership of a particular property after noticing warning signs, such as contradictory statements by the owner.  This caused them to wonder if the property might be subject to foreclosure.

At this point, they both realized that there was no easy way to verify the ownership and lien status of the property, as well as the background of the owner.

After discussing this experience with others, they soon learned of the growing problem of landlord fraud committed against renters.  While landlords routinely check on renters before accepting a lease, and there are hundreds of services to assist them with this, no service existed that would help a renter verify the claims of a potential landlord.  You can read about some of the various types of landlord fraud and rental scams and browse our news and video archive of related stories to see for yourself how this growing problem is affecting renters.

From this experience, CheckYourLandlord.com was born.

Our mission at CheckYourLandlord.com is to provide renters with peace of mind.  We give renters the ability to take action to reduce the risk that they might become a victim of a scam or foreclosure that could cost them thousands of dollars and untold hours of distress.  

The CheckYourLandlord.com executive team is comprised of experienced professionals with extensive backgrounds in the Real Estate, Finance and Legal fields.  Do you want to learn more about us?  Have a question? 

Renters...Check Your Landlord!

 

http://www.checkyourlandlord.com/order-your-report

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

it's time to call in a professional manager

This is good information and listing agents should have this to council their condo sellers.

I stopped taking rental properties to manage in SELFmanaged HOAs over a decade ago.  Too many personalities and lack of diligence from SELFmanagement.  I wish lenders would look at SELFmanagement as a NEGATIVE and the # of rental units as a POSITIVE!

Via dale taylor chicago illinois realtor chicago illinois homes townhomes condos (Re/Max All Properties New Lenox Illinois):

1. Know what you need. Start your search by making a list of what you’d like the management company to do. You can put anything on the list, as long as the HOA board keeps the responsibility to oversee the management company’s actions. Knowing what your HOA needs will help you focus your search. 

2. Choose a person or committee to do the preliminary search. Expect to devote about 20 hours to choosing a company, says Elizabeth White, an attorney at LeClairRyan in Williamsburg, Va., who represents community associations.

3. Ask if your state requires some level of manager licensing. If so, seek out companies and candidates with the proper credentials. “We’re finding a lot of management companies in states that require licensing (that) haven’t gotten the license,” White says. States that require licenses or registration include Alaska, Connecticut, the District of Columbia, Florida, Georgia, Nevada, and Virginia. Starting in 2011, Illinois will require licenses.

4. Consider a company certified by the Community Associations Institute. This Alexandria, Va.-based organization has a range of certifications for companies and individual managers.

5. Be sure the company performs criminal background checks on its employees, especially its managers. Do your own background checks, too. Check references and do an onsite visit. “Speak to board members of associations managed by that company,” suggests David Regenbaum, CEO of Association Management Inc. in Houston. “Visit the company’s office and get a sense of its business philosophy. Some are merely bookkeeping and secretarial services. Others are fully committed and involved in the community. Make sure you select the company that’s appropriate to your needs.”

6. Investigate the firm’s bonding and insurance. Your state law and governing documents may spell out minimum standards for both, Taylor says. But a management company should also have liability insurance and workers’ compensation insurance covering its employees. Ask for a copy of the company’s insurance certificate, recommends Robert White, managing director of KW Property Management & Consulting in Miami. His firm carries a $2 million liability policy, plus a $10 million umbrella policy.

7. Read the fine print. It’s the rare management company that works without a signed contract. “It goes without saying,” Elizabeth White says, “that you should never sign the management company’s form contract.” Have your association lawyer suggest changes.

8. Try to negotiate for a one-year contract rather than the three-year contracts many companies seek. Why commit to a three-year contract if you can negotiate a one-year contract with the option to renew at one-year intervals for two years at the same price?

9. Scrutinize termination provisions. “As a manager, I don’t mind receiving 30 days’ notice of termination,” Regenbaum says. “But you shouldn’t allow the management company to give you 30 days’ notice because it’s difficult to scramble to find another manager in that time.” You need 60 to 90 days to repeat the search process if things don’t work out with your current management company.

10. Ask for a complete fee schedule, so you can compare competing contracts. Big costs may be buried in extra fees. For example, a company may provide for a manager to attend one meeting every six months and charge $100 per hour after that. It may also charge separately for postage and to manage a vote on and payment collection for special assessments. The lesson, according to Elizabeth White: Bids that come in significantly lower than others should be red flags.

Have A Question?  Please Feel Free to Call or Text Me At 708-439-0165.  Find A Home or A Select Destination!  Subscribing to My Blog Is Appreciated!

  

Find a home at http://dtaylor.illinoisproperty.com

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Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

1 commentWallace S. Gibson CPM * LandlordWhisperer • December 29 2011 05:53AM

NASCAR Fable * SEASONED Winner v SPONSOR-Friendly FEEL GOOD STORY!

In NASCAR, it is called the "silly season" when drivers, teams, owners and sponsors switch "rides" before the NEXT season.

This year's FEEL GOOD story may be the possibility of the "Cuban Missle" Aric Almirola going to the HISTORIC #43 of Richard Petty Motorsports.

Almirola has virtially no experience at the HIGHEST/Cup level of the sport; however, he is has had good "rides" with DEI and Joe Gibbs Racing and raced last year for JR (Dale Jr.) Motorsports.

Almirola would be replacing Cup Driver AJ Allmendinger who is going to the #22 Shell car of Uber owner Roger Penske.  

Allmendinger's EARLY claim to fame is that his dog, Misty, was used in the movie, Marley and Me.

A.J. Allmendinger's dog, Misty, portrayed the Labrador featured in the movie,

IMHO * NASCAR drivers treat their PETS better than MOST basketball players treat their WIVES!

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

For Sale and Rental SQUARE FOOTAGE is NOT the SAME * Rental Prospects may be Confused!

I've been having more discussions lately with rental prospect callerts who THINK that a Rental listing SqFt is the same as For Sale listing...and it is NOT.

While the UNimproved SqFt of a For Sale property may mean something to a prospective buyer, I'd rather have that description space in the listing for something else of importance.  

The ENTIRE SqFt of a rental is what is being rented; however, the UNfinished area available for expansion or build-out may be important to a prospective BUYER.

Since I have floor plans of my listings available on my website as well as 20+ interior photos, it is easy to see when there is UNfinished space available for STORAGE, Workshop Area, Winter Play Area.  

A little education on this difference is important so that rental prospects get the WHOLE picture of the available property!


 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

I agree with Ken Jennings * this is The End of the World! Sorry, Dubai!

I L♥VE Ken Jennings * the JEAPORDY champ and BIGGEST WINNER in game show history.  I actually KNEW the answer to the final question he missed to end his 75 show winning streak.  

WHAT is H&R Block, Alex?

Ken now has a great blog about the END OF THE WORLD.....NO, not the Tom Cruise "end" but for the REAL real estate end of the world.

Dubai has many FIRSTS - suspended tennis courts, ski slopes in the desert and it's ruler wanted to CREATE a map of the world off the Persian Coast. The World project started and has now ENDED and has lost its funding and is disappearing as maintenance has ceased.


http://www.cntraveler.com/daily-traveler/2011/12/Jeopardy-Champ-Ken-Jennings-Chronicles-the-End-of-The-World-in-Dubai

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Blond is the NEW Black According to One of My Christmas Present Books

My sister gave me the cute book * On Being Blonde * Wit and Wisdom from the World's Most Infamous Blondes.....

ON SEX * Nothing risque, nothing gained * Jayne Mansfield * Mother of actress Mariska Hargitay of Law & Order SVU

ON MEN * God created man, but I could do better * Erma Bombeck

ON BEAUTY * Beauty, to me, is about being comfortable in your own skin. That, or a kick-ass red lipstick * Gwyneth Paltrow

 

ON LIFE * You only live once, but if you do it right, once is enough * Mae West

ON BEING BLONDE * I'm not blonde to be more fun; I'm blonde because it looks better * Cybill Shepherd


 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

Lawyer's Letters--Raising the stakes * Landlords and Property Managers need a POLICY on These Letters!

I'm REblogging this post becuase this is something that property managers and landlords have to deal with on a regular basis.

Like BBB complaints, I never respond to lawyer letters.  I received one this summer about a withheld security deposit and in their letter, the attorney indicated I could ONLY respond to them via e-mail.  After 20 days, my former tenant wrote me also and I did not respond.

If she has a case, her attorney - whose office is 2 hours from the county where she would have to file her $1,200 claim - should file a lawsuit.  I will then - at much reduced cost - file a COUNTERclaim and move the trial venue to the court that is a 30 SECOND walk from my attorney's office.

Here Kitty!  Kitty! Kitty!

Via Elliott S. Topkins Massachusetts Real Estate and Title Atty (Topkins & Bevans-etopkins@topbev.com):

Lawyers are often the focal point of disputes between neighbors, family members, business associates and virtually any combination of personalities. While it is not always the case that people use my services for non-confrontational matters [estate plans, home purchases or setting up businesses], people many times consult with me, because they are unhappy with a situation and want resolution.

I cannot tell you how many times people have consulted with me, and the first thing they wish to do is start a lawsuit against another person or entity. I can tell you, from many years of experience, that lawsuits are almost always much more expensive for the litigants than at first imagined, and almost never produce the result which was sought when they are begun. The old adage that the only people who really “win” in litigation are the lawyers is sometimes true. On the other hand, many lawyers reach a point where they cannot, in good conscience, continue to bill their clients for the extended delays and machinations that characterize litigation, and billings arrangements are many times modified by lawyers, so that even the lawyers do not do well in the litigation arena.

This introduction leads me to a discussion of the efficacy of “lawyer’s letters” so-called, as a means of resolving disputes. My experience in disputes is that there are three “magic moments” in the course of a dispute, which may give rise to resolution. The first is the receipt of the very same “lawyer’s letter”. The second two are the receipt of a summons and complaint from a Sheriff or Constable, and the third is the date of the trial on the merits [usually extremely remote from the first two events].

When I write a lawyer’s letter for a client, I am trying to demonstrate to the person, or entity, to whom I am writing that the matter in question is “serious”.  I interview my client with the same precision as I would to file a lawsuit. I try to make sure I have all of the facts correct, and the sequence of events correct. That level of preparation, it itself, may have the desired effect. The other person knows that there is really not much left for me to do to start litigation. In effect, I have “raised the stakes” of the dispute to a level that makes the other side more likely to respond.

The other important part of my lawyer’s letter is I give the addressee some options which will be short of litigation. Normally, I do not threaten suit. I want the other side to understand that this matter can be resolved. I am not trying to paint the other side into a corner. In effect, I am doing just the opposite. I try to frame a solution whereby each side “bleeds a little” and they can move on.

Many times, I can achieve resolution by suggesting a mediation of the dispute. Many times, the other side only wants a fight. In any event, I suggest that it is always worth an initial effort to resolve matters short of a lawsuit, and that is what I always advise my clients.

 

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

Central Virginia

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans

"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous