September 2, 2010
Having noisy, disruptive, or otherwise disrespectful neighbors can be a major hassle, both for property owners/managers and tenants alike. Worst of all, a bad neighbor scenario could drive down your rent and retention rates. So what can you do? Check out these links to help you better avoid problematic neighbors and more effectively resolve disputes.
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Cost Saving Tips, Property Management, Property investment, Tenant's Perspective | Tagged: property management software, real estate, Buildium, dealing with bad neighbors, neighbor relations, dealing with nuisance neighbors, conflict resolution, involving the authorities | 
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Posted by Buildium
August 30, 2010
Dealing with bad tenants can be tricky enough—though such scenarios are not ideal, at least you have a contract on your side to dictate 
certain rules and behaviors that ensure the comfort of all your tenants. But what happens in a case involving bad neighbors, when you don’t have the benefit of a pre-existing agreement on your side? Depending on the set-up of your property, a bad neighbor can potentially be just as disruptive (or perhaps even more so) than uncourteous tenants in your own property. Following are some suggestions to help mitigate this sort of scenario.
Consider neighbors when property hunting.
Time and time again in this blog, we’ve highlighted the importance of doing extremely thorough research when seeking out an investment property. And guess what? We’re about to dole that same information out once again. With so many other factors to take into consideration when selecting a property, evaluating potential neighbors is one of those things that all to often falls by the wayside. But on a day-to-day basis, your property’s neighbor can have a considerable impact on your tenants’ quality of living. And if that impact is a negative one, you may very well find yourself with high turnover or an undesirable vacancy rate. So, with this in mind, taking neighbors into account is a consideration when purchasing a property.Visit your potential property at various times of the day to see if there are any red flags (be sure to do this at times when neighbors are likely to be home, such as weeknights or on weekends). If you pick up on any noise or behavioral issues, you may want to consider what sort of impact this might have down the line.
Meet your neighbors.
This sounds simple, but neighbors are much more likely to make more conscientious decisions when they are taking a specific person into consideration as opposed to an anonymous “neighbor.” As soon as you purchase your property, take a few minutes to introduce yourself to your neighbors—this doesn’t take much, just a five-minute chat will do.
Have a calm and rational conversation should an issue arise.
While “pre-screening” neighbors will certainly help you avoid problems down the line, it’s not fail-safe. After all, properties change ownership and if you have a neighboring rental property, you could find yourself dealing with someone else’s bad tenant.
If you become aware of problematic behavior either from your own observations or tenant complaints, have a polite but frank chat with the neighboring property owner, whether that’s the house occupant or a fellow landlord. This simple step may be all it takes; sometimes people are unaware of the effect their actions are having on others and may simply need a bit of enlightenment. Should you have this sort of conversation and find that the issue persists, try one more conversation, preferably at the time the issue is actually occurring.
Involve the authorities.
Although it’s not ideal and can be uncomfortable because it inherently involves a party that you will presumably deal with in the future due to proximity, if the offending behavior is chronic and involves some sort of legal violation (such as noise past a certain hour or reckless public behavior) call the non-emergency number of your local police force and put the matter into a third-party’s hands.
Remember, as with most things, the best way to avoid dealing with problematic tenants is to prevent the problems from happening in the first place. Hopefully, by executing the first three recommendations, you will never reach the point where you have to act on the fourth.
2 Comments | Cost Saving Tips, Property Management, Property investment, Tenant's Perspective | Tagged: Property Management, property management software, real estate, Buildium, online property management, dealing with neighbors, dealing with bad neighbors, neighbor relations, meet your neighbors, involving the police | Permalink
Posted by Buildium
August 19, 2010
If you are managing property in an area with frequent criminal activity, taking the necessary precautions to protect your tenants and your property is a worthwhile investment. There are several steps that you can take that will both raise your property value and keep your retention rates from plummeting. Check out these links to help secure your property and the surrounding neighborhood.
- Installing a home security system may be the most effective method of protecting your individual properties from criminal activity. Check out ADT’s website for more information on their award-winning security systems.
- The National Neighborhood Watch Institute provides inexpensive reflective signs to let potential criminals know that your neighborhood has a plan in place.
- If your property is in a high-crime area, it’s possible that theft and criminal activity are taking place on your property. Make sure that you and your tenants know their duties and risks.
- State Farm provides a fantastic guide to protecting yourself against home burglary — by heeding their advice, you’ll greatly diminish your chances of being burglarized.
Leave a Comment » | Cost Saving Tips, Property investment, Tenant's Perspective | Tagged: Property Management, property management software, real estate, criminal activity, Buildium, crime, Neighborhood watch, protecting your property, brinks, protect your property, adt, neighborhood watch programs | Permalink
Posted by Buildium
August 16, 2010
It’s a fact: Some neighborhoods are more safe than others. It’s also true that while a neighborhood may be quite safe at the time you purchase an investment property, things can go downhill at any time (happily, this phenomenon can work in the opposite direction as well). To make things even trickier, high crime rates aren’t necessarily limited to “bad” areas. Sometimes crime can trickle into nicer areas from surrounding neighborhoods, which is why it’s important to really do your homework before investing in a property—some hazards are simply not immediately obvious.
If, for any of these reasons (or completely different ones), you find yourself with a property in an area that is suffering from regular criminal activity, there are steps you can take to help make your property a safer place for tenants to reside.
Form a Neighborhood Watch Program
This is one of our favorite options, because it goes beyond just protecting your property and tackles the larger issue—making your entire neighborhood a safer, more enticing place to live. The results of accomplishing this are huge for you and include increasing property value and potentially lowering vacancy rates.
If your neighborhood does not already have a Neighborhood Watch Program, it does take some effort to start up but, again, the payoff is big. Begin by advertising the group to neighbors through fliers and notices in local publications (such as alternative weekly newspapers and online publications), and through social networking services. Once you have interest, set up a meeting and devise a plan, which includes safety patrols in the area during nighttime hours. It’s also worth having neighbors post signs on their properties advertising the fact that a neighborhood watch exists as this, in and of itself, can be a deterrent to crime. Contact your local sheriff and have them send a representative to the meeting to help provide tips and guidelines for creating a plan of action and the most safe, effective program possible.
The National Sherriffs’ Association has a number of great tips and tools for starting up and registering an official program in your area. You can also search USAonWatch.org to find out about any existing programs in your area.
Communicate with Your Tenants
There is a tendency to avoid advertising criminal activity in your surrounding area so as not to harm the reputation of your property or alarm existing tenants. However, if you are aware of crime in your neighborhood, it’s actually very important to inform tenants and to provide them with tips for safeguarding themselves and their property.
Much like a neighborhood watch program, having actively involved and alert residents can go a long way toward preventing crime. Just make sure that your communication is not alarmist—information should be provided in a straight-forward, factual manner and tips for protecting and safeguarding property should also be included in the same memo. (Also be sure to include contact information for local police and Neighborhood Watch Programs so that suspicious activity can be reported.)
Safeguard Your Property
Criminals often look for signs of neglect according to James Wilson and George Welling’s “broken window” theory. The gist of this theory is that if would-be criminals see signs of neglect, they are more likely to commit acts of vandalism or crime. Keep your property in good order and make it clear at just a glance that it is a carefully protected area. Install outside lighting (including motion detector lights), put up alarm system signs in conspicuous areas, and secure all doors and windows. Be sure to check out our previous blog post for more tips on safeguarding your property against crime.
There’s no quick fix for ridding an area of crime. But a concerted and consistent effort can definitely make a significant impact over time. Do what you can to make your property as safe as possible and recruit community members and tenants to do their part in keeping their eyes open, making your neighborhood a safer place for everyone.
Leave a Comment » | Cost Saving Tips, Property Management, Property investment, Tenant's Perspective | Tagged: brinks, Buildium, crime, home security, Neighborhood watch, Property Management, property management software, protecting against crime, protecting your property, real estate, tenants | Permalink
Posted by Buildium
August 12, 2010
While “going green” used to be seen by some as notoriously trendy, it has now become the norm. Many of your competitors have likely already gone green, which could be giving them a leg up on you in the eyes of prospective clients or tenants. There is no reason to wait any longer — taking small measures over time to green up your properties can be as good for your bank account as it is for the environment. Check out these sites to get started on the right foot.
- Check out Energy Star’s list of energy efficient products — appliances, electronics, heating, plumbing, and lighting — all of which can save you a bundle.
- Planet Green’s Top Green Cleaning Tips offer low-cost ways to immediately start greening up your properties.
- More and more, tenants are asking their landlords or property managers about their green credentials. This could be a great way to market your business to eco-concerned tenants of property owners.
- You probably aren’t managing properties like these, but they are fascinating case studies on just how far green property management can go. Check out 15 of the Greenest Buildings in the World.
2 Comments | Cost Saving Tips, Property Management, Property investment | Tagged: Property Management, property management software, real estate, Buildium, green, energy efficiency, energy star | Permalink
Posted by Buildium
August 9, 2010
Gone are the days when going green was a cutting-edge, leftist notion. With environmental issues at the forefront of the media, going green is 
now firmly in the mainstream, quickly becoming the norm rather than the exception. Even with all of these new, more eco-friendly options on the market, the truth of the matter is that completely greening your properties and your business in one fell swoop can be an expensive endeavor up-front (though most green measures will likely save you money in the long-run). Our suggestion? Take small measures over time that won’t break the bank in the short-run, will save you money in the long run, and will make you feel great about doing your part in the process.
Appliances
Installing energy-efficient appliances in your properties (dishwashers, refrigerators, washing machines, etc.) is a great way of incorporating greener, more energy-efficient elements into your properties. Not only will your property be more energy efficient by using less water and producing fewer greenhouse gas emissions, but you can also cut down significantly on utility bills by using water and energy more efficiently.
Speaking of saving money, you can save some cash up front with energy efficient appliances as well. Rebates are often available for ENERGY STAR certified products, of which there are many. Not only do energy efficient appliances offer you the chance to be greener and save on utilities, but they’re also something that (sooner or later) you need to purchase anyway. You don’t have to break the bank by going out and buying new dishwashers for each and every one of your units all at once. Just take it one step at a time, replacing old appliances as necessary with new, more environmentally friendly versions. Over time, you’ll find yourself with a much greener property.
Green utilities
Many local utility companies are now offering green energy and electricity options; this means that the energy provided is from 100% renewable sources (such as wind). One of the great advantages to this green tactic is that it involves money you’ll be spending anyway (though green energy sources are sometimes a bit more expensive than their not-so-eco-friendly counterparts). You have to pay your utility bill every month anyway—why not feel good about it? For more information on availability and pricing in your location, take a look at the U.S. Department of Energy’s Green Power Network.
Cleaning products
Every little bit helps and it’s okay to start small. If you want to be more eco-friendly in the short-term, but are unable to make a significant investment, try taking small measures such as purchasing green versions of cleaners and other household products for use both on your properties and in your property management office. These days, green versions of common cleaning products can be found pretty much anywhere and include everything from glass to carpet cleaners. Click here for a categorized listing of just some of the eco-friendly cleaning products available on the market today.
Of course, there are many other ways to green up your act–the sky’s the limit! Be sure to check out this listing of rebates and incentives by state to see how you could be saving money and the environment by greening up your property.
Leave a Comment » | Cost Saving Tips, Property Management | Tagged: property management software, real estate, Buildium, green, Green property management, green appliances, green products, energy efficient, energy efficiency | Permalink
Posted by Buildium
August 5, 2010
Keeping your lease agreements up to date and in compliance with federal, state, and local laws is the best way to protect yourself and your investment in your property. Here are some great resources to help you keep that lease flawless.
2 Comments | Cost Saving Tips, Property Management, Property investment | Tagged: property management software, real estate, rentals, tenants, leases, Buildium, online property management software, rental software, lease agreements | Permalink
Posted by Buildium
July 29, 2010
Natural disasters such as Hurricane Katrina and the California wildfires of 2007 serve as horror stories for property managers and tenants alike. While we don’t suggest living in fear, we do suggest taking the necessary precautions to protect your tenants and your properties from unexpected disasters. Here are some great links to help you learn more about how you can best be prepared for these unexpected events.
- The Property Insurance Coverage Law Blog has followed the aftermath of Hurricane Katrina very closely. The blog offers lots of interesting content regarding property insurance coverage and natural disasters.
- FEMA provides a mapping tool to help you identify if any of your properties are at risk for flooding.
- FEMA also provides a very comprehensive guide to preparing your property for a variety of natural disasters including floods, earthquakes, hurricanes, landslides, and tornados.
- The National Flood Insurance Program offers an interactive tool that can help you estimate how much flooding could cost your property management company.
2 Comments | Cost Saving Tips, Property Management, Property investment | Tagged: Property Management, property management software, real estate, Buildium, flood insurance, property management disasters, hurricane katrina, california wildfires | Permalink
Posted by Buildium
July 8, 2010
Once a former tenant moves out of your property, it’s time to get to work rehabbing the unit. Freshening the unit up can go a long way in bringing in new tenants — and often at a higher rent rate. Here are some great links to help you take care of your newly vacated units.
- Before you do anything to the unit, make sure that you understand the difference between normal wear and tear versus damages. Any damages should be paid for out of a security deposit, not your pocket!
- You decide you need to repaint several rooms in a recently vacated apartment. When you get to the store, you are suddenly faced with hundreds of different paint options. Lowe’s interior paint buying guide is here to help.
- Likewise, selecting new carpets for your property can be a daunting task. Lowe’s carpet buying guide can quickly get you up to speed, ensuring that your new carpeting is the price, color, and type that you need.
- Cleaning appliances is likely not a frequent occurrence. So what is the best method to make your oven look like that lasagna never boiled over?
Leave a Comment » | Cost Saving Tips, Property Management | Tagged: Property Management, real estate, landlord, apartment, vacancy, property manager, unit, vacant, security deposit, damages, Buildium, wear and tear, Vacated | Permalink
Posted by Buildium
July 6, 2010
The last box has been hauled down the stairs and the moving van has pulled away from the curb. Now that your former tenant has vacated his apartment, it’s time for 
you to get to work, flipping the unit in preparation for the new tenant that’s on her way. We’ve talked about the differences between normal wear and tear versus damages previously—so now let’s take a look at what tasks you can expect to complete on a routine basis when a tenant moves out of one of your units.
Cleaning Appliances
No matter how cleanly your former tenant was—and even if he cleaned the apartment himself prior to vacating—chances are some spots were missed. And some of the most common missed spots that require your attention are appliances, such as stoves, refrigerators, and built-in microwaves.
Cleaning Floors and Laying Carpet
Flooring is another one of those areas that may still be a bit grimy upon your previous tenant’s departure. As with the appliances, you will want to make sure that they are all thoroughly clean for your next tenant. Don’t just clean—use this opportunity to get rid of scuffs, stains, and any other markings that may be more permanent than just dirt. If you have hardwood floors, you may want to consider adding a coat of wax while you’re at it. Not only will it look great for your next tenant’s arrival, but it will also protect the floor against nicks and scratches from your next tenant. If you’re dealing with carpet, you will either want to rent a carpet-cleaning machine or bring in a professional to take care of the job. In addition to visually freshening up the unit, carpets can also hold odor, so you want to get rid of any lingering scents before your new tenant arrives. If the existing carpet is worn out, be sure to re-carpet altogether in between tenants.
Removing Nails and Patching Holes
Here’s a common one–removing nails from paintings and other fixtures hung by the previous tenant. Not only will you want to remove the nails, but also to patch up the holes left in their wake. You can hire a handyman to take care of this, but spackling kits from hardware stores are inexpensive (think less than $5) and make the process fairly straight-forward (unless, that is, you’re like one of our customers who had a tenant that left 444 nails in the apartment upon vacating it). When patching up holes left behind by nails, also be sure you have paint on hand to blend the area with the rest of the wall.
Paint
Speaking of paint, here’s another common one. You’ll want to carefully survey the unit to make sure that the paint job is fresh and new, fixing up any scuffs, scratches, or peels. In many cases, it’s easier just to re-paint altogether. Not only does a new paint job spiff up the apartment for your new tenant, but it also makes it easier for you to evaluate any damage incurred the next time you flip the unit. To avoid problems down the line, make sure that you keep extra cans of paint around to match pre-existing paint jobs in your unit.
The good news about the most common unit-flipping tasks is that most of them are do-it-yourself-friendly. When determining whether to take care of each unit on your own or with the help of a handyman or professional cleaner, evaluate the condition of each unit and determine whether or not the time and effort it will take you to accomplish these tasks justifies the cost of hiring a third-party.
9 Comments | Cost Saving Tips, Property Management, Property investment | Tagged: Property Management, property management software, real estate, landlord, vacant, units, apartments | Permalink
Posted by Buildium
