July 13, 2009
It’s likely that one of your company’s biggest assets doesn’t actually appear on a balance sheet or in a property portfolio. To see this invaluable asset,
look no further than your employees. In a business that inherently involves dealing with people and making quick, educated decisions, a well-versed employee is an invaluable asset. With this in mind, there are many measures you can—and should—take to do everything in your power to keep good staff onboard for the long haul.
1. Stay on top of market salaries.
Carefully research the going salary for comparable positions in your region and make sure you are at least matching it. While everyone wants to keep their overhead as low as possible, trying to get “bargain” employees will rarely work to your benefit in the long run. You’ll either end up losing employees to companies that are willing to pay higher wages or end up with an inferior staff. Consider that according to Entrepreneur.com the average cost of losing an employee is 38 percent of the departing employee’s annual wage and it’s readily apparent that it’s financially savvy to make sure good employees remain on staff.
2. Be diligent about goal-setting and annual reviews.
Goal-setting and annual reviews may elicit a few groans from your staff, but don’t be swayed—they’re essential. Goals offer a clear-cut method of tracking employee progress and ensuring that both you and your employees have a good idea of where growth has been achieved and, alternatively, where training may be necessary. Additionally, goals and reviews instill a measure of accountability for staff and provide both you and your employees with a built-in opportunity to take stock of where they stand and to make adjustments as necessary.
3. Promote from within.
Whenever possible, promote from within. Although this is not always feasible in cases where specialized positions need to be filled, if you are never promoting from within this likely means it’s time to evaluate your management style. A good employee-manager scenario should involve training and, subsequently, consistently increasing employee responsibility.
4. Delegate responsibility as it is earned.
Even in the absence of an official promotion, make sure your employees’ responsibilities are consistently increasing (this is, of course, assuming, that they are earning such increases). The more ownership of and investment in your company employees assume, the more effort they will extend on your business’ behalf. As boss, you also want to ensure that you have as many capable hands pitching in as possible. Everyone wins when employees are empowered.
5. Recognize milestones and outstanding achievements.
Everyone likes to be recognized. Pay attention to what’s happening around the office and reward employees who go the extra mile. Even when money is tight, a $25 or $50 gift card to a restaurant or local shop will be well worth the expenditure. Remember, you’re in a high-touch industry—you may be able to negotiate a trade with local vendors wherein you offer advertisement opportunities (e.g., including coupons for their product or service in new tenant packets) in exchange for gift cards that can be put toward employee incentives.
Finally, remember that maintaining staff morale is not an “extra” task to tackle when you have more time or increased profits. By then, it may be too late. Maintaining good staff is nothing short of essential to good business.
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Property Management | Tagged: Property Management, property, goals, salary, salaries, staff, motivation, motivate, lead, leadership, employee, employees, balance sheet, portfolio, overhead, entrepreneur, entrepreneur.com, goal, goal setting, annual review, training, promote, promotion, delegate, responsibility, responsibilities, ownership, empower, milestones, achievement, reward, morale | 
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Posted by Buildium
July 6, 2009
Whether you’re in charge of managing a well-established condo association or a brand-new one, whether your membership is 5 or 50, the guidelines below will make the difference between a successful association and an
unproductive one.
1. Build a community.
Sure, you’re dealing with a network of neighbors that dwell in close proximity to one another but that doesn’t necessarily mean there’s a built-in sense of community. Fostering ties between association members—and particularly condo residents—is one of the most important tasks you have to accomplish as a condo association manager. A solid community is an inherent part of any productive condo association.
2. Give everyone a voice.
Essential to a solid community is good communication. Remember that members of the association are ultimately paying for the decisions your association makes, whether they ultimately agree with them or not. Because everyone has a vested interest in the matters at hand, it’s critical that all members feel they have an equal chance to have their voice heard. While you may be the spokesperson, your biggest task is to make sure that you are representing your contingency and acting in their best interests. Which means it’s imperative that you know where everyone stands on various issues that affect the condo. And remember, the more input you have, the more likely you are to come up with creative solutions—allowing all members to speak their mind and offer their opinions will go a long way toward ensuring everyone wins in the long-run.
Perhaps most important, foster an environment where all members listen to one another’s opinions respectfully. After all, no matter how vocal of an association you have, if no one is listening it’s all for naught in the end.
3. Communication is key.
Now that you’ve got your membership talking, you need to pull those many voices together into one decisive communal voice. As a manager, it’s your responsibility to liaise between a number of involved parties including unit owners, lessees, legal entities, real estate offices, and lending institutions. It’s up to you to make sure that everyone receives the information they need as efficiently as possible. There are a number of ways to disseminate information and you should choose whichever one works best for you and association members. And, remember, you also want to make things as easy for yourself as possible. Consider the following options for communicating with association members:
- Send out a regular newsletter (weekly, monthly, bi-monthly or quarterly—whatever makes the most sense for your association)
- Set up a website where news is posted as necessary (but if you take this route, make sure you have a web-savvy, proactive membership)
- Send out emails on an as-necessary basis (make things easy on yourself by setting up a distribution list and sending out an annual notice for email address updates)
- Organize regular meetings where everyone can come together to share information
4. Be financially savvy.
Whether you’re finding a contractor or shopping for condo insurance, do your homework and make sure you’re getting the best value possible for your association. Ask for referrals from trusted sources, request bids, and read reviews when available. And remember, the “best value” is not always the cheapest option—you’re better to pay a little more up front if it makes the difference between getting the job done right the first time and revisiting the issue in a few months or years.
5. Stay organized.
Organization is nothing short of critical to effectively managing a condo association. You’ll want to make sure that you keep meticulous records of everything—meeting minutes, important correspondence, repairs and upgrades, and financial records are just a few of the items you’ll need to track. Investing in a simple system that can be easily accessed at all times (not only by you but by all necessary parties) will ensure you stay on top of everything.
Finally, remember that even though you may be the association manager, you’re not in this alone. You have a great resource right at your fingertips—association members. They have a vested interest in making sure that the condo community, communication, finances, and records are in good shape. The more you engage your members, the better off everyone will be.
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Property Management | Tagged: real estate, hoa, homeowners association, unit, email, communication, repairs, website, home, referral, legal, communicate, newsletter, owner, records, condo, condominium, homeowner, association, condo association, neighbors, lessees, lending, memebers, member, association memeber, meeting, association meeting, insurance, condo insurance, organization, meeting minutes, correspondence, financial record, association manager | 
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Posted by Buildium
July 2, 2009
Reading about real life property management situations and the lessons other landlords have learned the hard way is a great way to get practical tips that will help you solve issues that could potentially become tenant complaints in the long-run. After all, why make your own mistakes when you can learn from those of others?
- When bed bugs infest your property are you responsible? This British property management company argues that bed bugs are the tenants’ responsibility.
- Noisy neighbors are a common source of tenant complaints. Find out what tenants have to say on the matter by clicking here.
- Prevent tenant complaints before they happen by outlining tenant living guidelines.
- Don’t end up like this landlord. If you have broken windows, fix them. If you have rats, exterminate them. If you have gas leaks, close them.
- Tenant compliants can result in a PR nightmare. Case in point: After reading about Connolly Properties, would you want to rent from them?
Leave a Comment » | Property Management | Tagged: Property Management, real estate, landlord, rent, tenant, links, landlords, multifamily, tenants, apartment, property, neighbor, property manager, noise, complaint, tenant complaints, complain, noise complaint, bed bugs | Permalink
Posted by Buildium
June 29, 2009
Whether you’re dealing with a tenant who files complaints rarely or frequently, due diligence is always essential. Tracking and addressing tenant complaints in a timely manner is important not only for keeping your tenants
safe and happy, but also for protecting yourself and your property in the long run.
1. Encourage tenants to come to you.
As with maintenance, tenants should be encouraged to come to you with any complaints they may have as quickly as possible. Sure, there might be some tenants that overuse this privilege, but the vast majority will not. Provide a number they can call at all hours—and be sure the number’s voicemail includes an emergency number callers can utilize during off-hours.
2. Create (and use) an official tenant complaint form.
Although it may seem unnecessary at times, tracking each and every tenant complaint is important. These forms will provide a record of the situation and what you did to mend it and also, in some cases, provide yet another way for you to record repairs and upgrades that have been completed in each unit. On this form you’ll want to include the date of the complaint, the tenant’s name and unit, and the nature of the complaint. You’ll also want to record resolution action items, the date the issue was resolved, and how it was resolved.
Since we just talked about eviction last week, this seems like a good time to point out that, in some states, tenants may be justified in non-payment of rent if complaints are not resolved. Tracking tenant complaints is a surefire way to make sure you avoid precisely this sort of situation.
3. Resolve the issue as soon as possible.
Every landlord should have a list of contractors ready to call on short notice. Even though some issues are too big or complex to be fixed immediately, having loyal contractors who will push you to the top of their list should the need arise is key to resolving problems quickly. It also benefits you; in some cases, the faster a repair is made, the less damage ultimately occurs.
4. Follow up with tenants.
Always make sure you let tenants know when a complaint has been resolved or closed out—even if the resolved issue seems like one that will be blatantly obvious to them. And if you find yourself in a situation where a complaint cannot be resolved immediately, be sure to let your tenants know that you’re on the case, where you’re at in the process, and when they can expect to have the problem remedied.
5. Handling tenant interpersonal issues.
With all of this in mind, it’s important to remember that some tenant complaints involve interpersonal issues rather than repairs and maintenance. For example, at some point, most landlords will have to deal with tenants complaining about other noisy tenants. Although it may be uncomfortable, dealing with this sort of complaint is just as important as dealing with maintenance and repairs. Begin by speaking with the tenant in question; be sure to include a clause in your lease agreements that clearly states behavioral expectations so that you can point back to that in such situations. If the problem continues, it’s time to start writing official warnings. And if the issue still persists, you may be forced to look at alternatives such as eviction.
In the end, dealing with tenant complaints boils down to two main elements: keeping your tenants happy and keeping your property safe and in good repair. Although tenant complaints may sometimes be a bit trying, staying on top of them is always in the best interest of your business.
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Property Management | Tagged: Property Management, landlord, rent, tenant, maintenance, multifamily, lease, lease agreement, apartment, eviction, tenant eviction, property, contractor, repair, repairs, noise, complaint, complaints, tenant complaints, complain, complaint form, renter, contractors, interpersonal, issues, noisy tenants, noise complaint | 
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Posted by Buildium
June 25, 2009
Staying on top of local eviction laws is a must. Following are links to some municipality and state eviction statutes (remember to always consult an attorney).
Leave a Comment » | Property Management | Tagged: ca, california, california eviction, eviction, eviction law, eviction legislation, eviction links, eviction statutes, fl, florida, florida eviction, landlord, law, ma, massachusetts, massachusetts eviction, new york, new york city, new york eviction, nyc, residential eviction, tenant, tenant advisor, tenant eviction, texas, texas eviction, tx | Permalink
Posted by Buildium
June 22, 2009
For obvious reasons, most landlords dread evicting tenants. But for as stressful as evictions can be, there are a number of things you can do to
increase your chances of a positive outcome. Following are some tips to keep in mind should you find yourself in a position where evicting a tenant becomes necessary.
1. Have Sufficient Reason
First and foremost, it’s absolutely imperative to ensure that the law recognizes your reasons for eviction as valid (be sure to check your specific state and local laws before beginning any eviction). Despite the fact that it’s your property, tenants have rights too and any deviation from what is required by law may ultimately result in a lot of legal grief. Generally, valid reasons for eviction include continuous lack of payment (eviction does not usually result from a single month’s missed rent), the end of a lease term, or a broken lease clause.
2. Know Your Eviction Time Lines
Although you may be tempted, it’s never okay to move a tenant’s belongings out of his apartment without serving the eviction through proper channels, all of which require a certain time frame that will be dictated by state or local law. Also, make sure that the grace period included in your rental agreement (the time the tenant is given to pay you in full) has passed.
But once you’ve carefully ensured that you are following the proper procedures, do make sure that you stick to the time lines imposed on the tenant in question. Mike Brewer of the M Brewer Group explains that in the course of overseeing thousands of multi-family units in various parts of the country over the past 15 years, he has seen many landlords trip up by “not following through with the consequences put in place. For example, you agree to accept a promise to pay from a resident and when they fail to follow through, you make another arrangement … or worse, you do nothing. Given the length of time it takes to get through the eviction process, it is best to apply consequences in a timely fashion.”
3. Be Prepared for Court Proceedings
Many eviction cases end up in court, so be sure that you are prepared. It’s important that you have all the background documentation necessary to prove the validity of your case. Remember, although your property is under question, the eviction process involves the removal of someone from their home so courts are sometimes sympathetic with the tenant.
4. Record Keeping Pays Off
Unfortunately, it’s often impossible to predict when things are going to go sour with a tenant—if it were, evictions wouldn’t be necessary in the first place. Keeping meticulous records for all of your tenants by using property management software or a similar organizational tool is the best way to guarantee that if you do find yourself in a legal battle, your case will stand up in court. Recording payments, complaints, and maintenance and repairs made to all units ensures that you will be able to make your case. Brewer says, “The biggest hurdle I have seen time and time again is failure on the manager’s part to have the necessary paperwork in place. It sounds cliché but it’s true: dotting your Is and crossing your Ts during the move-in process is paramount when it comes to evicting a resident.”
5. Keep Your Cool
This may sound like a peripheral point, but remaining calm and rational during the eviction process is critical. This is a legal matter and any emotional outbursts or actions may come back to haunt you down the line. If you feel that you are unable to do this, communicate with your tenant only through writing or through a third party. Brewer advises, “Many times our innate sense is to treat people we are evicting with a ting of selfish satisfaction. I think the main thing to keep in mind is that you are dealing with an emotionally-loaded situation and to the extent that you can preserve one’s dignity, you come out ahead.”
Of course, the best way to deal with evictions is to do everything in your power to make sure they never happen in the first place. Says Brewer, “Education at move-in is everything. I hesitate to overuse the term emotionally loaded but, at the same time, move-in day is laced with just that. We displace a lot of information on our new residents and eviction is usually not one of the topics. What I would suggest is to include some dialog along the lines of, ‘If you find yourself having a tough time paying rent, come and talk to us early about your options.’”
1 Comment | Property Management, Real Estate Technology | Tagged: Property Management, property management software, real estate, landlord, rent, tenant, multifamily, multifamily housing, lease, apartment, eviction, tenant eviction, rental eviction, evict, tips, property, management, court, law, lease term, apartment rental, legal, education, state, reason, state law, missed rent, term, clause, lease clause, timeline, agreement, mike brewer, brewer, mbrewer, mbrewer group, mike brewer group, michael brewer, m brewer, m brewer group, multi-family, resident, eviction court, case, real estate court, records, record keeping | Permalink
Posted by Buildium
June 18, 2009
One accident at your property will not only ruin your summer, but potentially your entire year (if not more). The following resources will help keep you and your tenants safe this summer.
Leave a Comment » | Property Management | Tagged: bbq, bones, charcoal, chicken, child safety, cpsc, fire, fire pit, fire safety, gas, links, management, pool, pool safety, property, Property Management, safety, summer | Permalink
Posted by Buildium
June 15, 2009
Summertime means it’s time to head outside and enjoy all the activities the season has to offer. And if your property provides amenities like a pool or grills, chances are your tenants are particularly happy at this time of the
year. However, with these amenities come additional risks and hazards, many of which can be easily prevented with clear policies and a little bit of enforcement. Read on to find out about some simple measures that will help keep your tenants happy and safe during the summer months.
Pool Policies
Chances are at one point or another in our childhood, all of us were sternly told to “slow down” or “don’t run” by the pool. And, sure, it may have cramped our style a little bit but it also kept us safe. As a landlord, it’s your job to remind tenants about smart poolside practices—and to protect yourself from litigation that may result from pool-related injuries.
Make sure that rules and regulations for pool use are highly visible and that all your tenants know what is expected of them. Along with posting pool rules around the swimming area, you can also include the policy as a lease addendum to ensure that all tenants sign off on your property’s rules and regulations from day one. This addendum can include everything from basic rules to (if applicable) expectations on how tenants are expected to maintain the pool and surrounding area. A sample of this addendum can be downloaded here. In terms of pool signage, you can either make your own or visit a local hardwood store, most of which carry standard pool rule signage, particularly in the summer months. Common rules include:
• Shower before entering pool
• No food, drink, or glass in pool or on pool deck
• No animals in pool or on pool deck
• Pool capacity: _____ persons
• Pool hours : ________ – ________
• No running near pool
• No diving or jumping
• No children under ______ years of age without parent
• No diapers allowed in pool
It’s not your job to play full-time lifeguard, but if you do see tenants violating rules and regulations by running or behaving recklessly in any sort of way, take it upon yourself to bring an end to the behavior. Pools can be a lot of fun, but they also present many potential hazards that no landlord wants to be held liable for.
Grill Guidelines
Aside from swimming, nothing else says summer quite like grilling. Unfortunately for landlords, grilling brings with it a significant fire hazard. As with pools, it’s imperative that tenants know—and abide by—a strict set of grilling policies.
You will want to ensure that the grill is not within a certain distance of your property’s building in order to prevent potential catastrophe at the hands of flying sparks or an out of control flame. It should also be made clear that only adults are allowed to operate a grill. If you see any questionable behavior, don’t hesitate to take grilling privileges away from tenants. Clearly, a fire hazard is nothing to mess around with.
Noise Notice
With the days lasting longer and lots of outdoor fun to be had, more than any other time of year, it’s easy for tenants to get carried away during the summer, inadvertently disturbing other building occupants. Again, setting forth expectations or a noise policy in the lease is a good way to ensure that all tenants understand your rules and regulations. The early summer months are the perfect time to send tenants a reminder about building noise policies and expectations in terms of quiet times and noise levels.
Offering summertime amenities like swimming pools and grills is a great way to keep tenants happy and feeling good about their residency in your rental unit. Just be sure to guard against potential liability by making sure relevant rules and expectations are clearly communicated to and followed by your tenants.
2 Comments | Property Management, Tenant's Perspective | Tagged: activities, addendum, communicate, communication, complaint, fire hazard, grill, grilling, happy tenant, hazard, hazards, injury, landlord, lease, lease addendum, lifeguard, management, noise, policy, pool, pool capacity, pool policies, pool policy, pool running, pool safety, pool use, poolside, property, Property Management, real estate, regulations, safety, summer, summertime, swimming, swimming pool, tenant, tenants | Permalink
Posted by Buildium
June 15, 2009
If you’ve got a green thumb, landscaping your property can seem more like fun than work. Visit the following links to learn more about landscaping.
Leave a Comment » | Property Management | Tagged: do it yourself, garden, gardening, home depot, landscape, landscaping, momoy.com, online, online landscaper, online landscaping, the home depot | Permalink
Posted by Buildium
