Management & Maintenance

This department of Rental Housing Journal is your source for property management and maintenance information. Whether you're an independent landlord, portfolio manager, on-site community manager, leasing agent or apartment maintenance professional, the site is dedicated to bringing tips, best practices and information to help make your job easier and keep you up to date and educated.

property management apartment maintenance
Sat
01
Mar
admin's picture

The Dreaded Annual Reviews – How to Make Them Effective

If you are like most people review time comes around quickly and there is never enough time to appropriately prepare or to effectively complete them. Reviews are time consuming and often put off. How many of you have personally experienced the brush off review? It ends up as a quick phone call from your supervisor telling you “You are doing a great job and your increase will be effective on your next check, keep up the good work”. While we all can appreciate an annual increase this type of review accomplishes nothing and can often make employees feel undervalued.
During the Olympics we are reminded of how goal setting and specific feedback can result in extraordinary achievement.

Wed
19
Feb
admin's picture

Supplier Spotlight: Experts in recycling save big money for apartment managers

“If you have ever lived in an apartment community you know the lack of recycling,” says Jim Hoover, owner of Waste Recovery Systems. “I became very aware of this by my observations of the garbage containers I shared with other business owners back in the late 90’s.”

Hoover explains, “As I placed my garbage in the dumpster after separating my recyclable items, I was amazed at all the recyclables people
were throwing away. An enormous amount of cardboard, plastic, tin, electronics and glass filled dumpsters. This caused me to talk to the people with whom I shared the
container. I simply pointed out to them that if we don’t put recycling in the garbage, we will have less garbage to be picked up…and the bill will
go down which will save us money.”

Wed
19
Feb
admin's picture

LandLady Katie: Tax Time Doesn’t Have to Be Taxing

Tax time is here again and you should be aware that rental income isn’t the only way to make money when you rent a property. There are many incentives and tax advantages given to rental owners that entitle you to larger profits. Some of these money saving advantages are available monthly, and some of which are available annually when filing your taxes

Were you aware that often the entire amount of your property loan payment is tax deductible? This means that both the principle and interest payments made towards your property loan may possibly be deducted from your rental income. In addition, the interest that you pay on credit card purchases for your rental property is also tax deductible. As a real estate investor, you want the rental income to match as closely as possible to the property expenses to minimize tax liability.

Wed
22
Jan
admin's picture

LandLady Katie: Love This Job

Love Being a Landlord

I’m going to bet that you probably haven’t heard many people say that they love being a landlord. If anything, you’ve heard the cons, hatred, and horrific stories of doing such. But, in a world where there is so much emphasis on negativity, I’d like to bring our attention for a second to some of the positives of the property management industry. So, whether you’ve chosen to be a landlord as a career, or have been lucky enough to have inherited the job of managing rentals, there are many benefits that go along with being in this business.

Fri
17
Jan
admin's picture

Resolve to Recycle in 2014

New Year’s resolutions start in January and are often forgotten by February – without making a difference in our lives. But there is an easy resolution that saves you money, will make you feel good and best of all – it doesn’t involve the bathroom scale.

Recycle more “stuff.” There are recycling options – most at no cost – for many things you might consider to be garbage and for other things you are just not sure what to do with.

For instance, TVs, computers and monitors can be recycled/reused in Washington and Oregon for free whether they are working or not. Laws in both states require the manufacturers of TVs, computers and monitors to provide consumers with free and convenient recycling of these products. In Oregon it is illegal to throw them in the trash. To find free drop-off locations in your area go to:

Fri
17
Jan
admin's picture

Property Insurance – The Basics on Insuring Your Property

by Leonard Baron

When you own real estate – whether an investment or a personal residence – you should procure the proper type and dollar value of insurance needed for your property. Unfortunately, many people don’t understand the basics of how insurance coverage works, and many individuals just want to spend “as little as possible” on insurance. The trouble comes about when there is an problem, like a fire, slip-n-fall, or lawsuit. If you don’t have the right type of insurance, nor enough coverage, it could end up costing you a lot of money. So let’s go over the basics herein, plus we’ll discuss renter’s insurance basics and tenant liability insurance basics too.

A standard dwelling insurance policy will cover losses on the building, separate structures, personal property, loss of use, liability, and a few other optional coverages. The one’s that are more important to focus upon are:

Thu
19
Dec
admin's picture

Defining the Term “Slum Lord”

By Matt Koglmeier and Brian Sichko, Koglmeier Law Group, PLC.

Life is full of unanswered questions. A practical mystery quite worthy of your consideration is the concept of the Slum Lord. A quick search on Google using the phrase “Slum Lord” produces results that are as extensive as they are varied. Merriam-Webster defines the term “Slum Lord” as a person who owns a building with apartments that are in bad condition and rents them to poor people. Urban Dictionary.com lists a number of colloquial definitions of “Slum Lord” each more negative than the last.

Thu
19
Dec
admin's picture

To Whom Shall I Rent?

By Kevin Holliday, Esq., Hull, Holliday & Holliday, PLC

Question:
According to national figures, one of every 340 adults is a registered sex offender (SO), a number sure to grow as more people move in and out of the criminal justice system. Besides federal, state, and local laws restricting where they can live, many realtors simply refuse to rent to people with such convictions. What are the legal grounds to which a realtor can deny an SO’s rental application, and what legal recourse do SOs have to prevent such discrimination?

Thu
19
Dec
admin's picture

Reevaluating Rental Criteria

By Judy Drickey-Prohow, Esq.,Law Offices of Scott M. Clark, P.C.

Thu
19
Dec
admin's picture

Vacancy Rates Hit 6 Year Low

Vacancy rates for apartments have fallen to a six year low of 4.7% in the greater Salt Lake area while rent growth has accelerated to a annually adjusted 3.9% according to the mid-year report from EquiMark multifamily investment services. The report is based on data provided by 60,000 rental units in the area.
According to the report, "the economic fundamentals in the Salt Lake Rental market continue to favor apartment owners. Strong job growth, increasing population, low unemployment and escalating single family housing prices have all teamed to create sustainable rent growth and the lowest vacancy rate (4.7%) since 2007."

Pages

Subscribe to RSS - Management & Maintenance