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09
Jun
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Dear Maintenance Men: June 2014

By Jerry L'Ecuyer & Frank Alvarez

Dear Maintenance Men:
I am about to undertake a landscape rehab project at my building. My problem is that I have a 25-foot King Palm in the way. Can this palm be moved? I’ve also heard that landscape companies will pay for good-sized palms or at least remove the tree for free. Is this true?
John

Dear John:
Good question. We contacted a couple of local tree and palm experts in our area. They said King Palms do not travel well and if they are laid down on their sides for transport, they have a low survival rate. For that reason most tree companies will not pay for or remove a King Palms for free. The cost of hiring a crane truck and crew for transplant, most likely will be more than the palm is worth. If it were us, we would try to find a way to include the palm in our new landscape plans or pay for a tree removal service.

Wed
28
May
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Experts on… The Ultimate Set Of Property Management Tools

Rental Housing Journal posed this question independently to four industry experts: “If you were to look into the toolbox of a successful property manager, what 3 tools would you expect to see?”

Here’s what they all had to say…

Kate Good:

Flexibility - Due to the fact that there is a lot about the role of a manager you cannot control, flexibility will keep you on a successful path. I have encountered people who are too rigid to be flexible and they end up being rather miserable to be around. This has lasting effects on the people around you and will show up in their attitude. A manager must demonstrate their ability to do a great job no matter what lands in your lap.

Fri
23
May
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How Financial Spring Cleaning Can Lead to a Richer Long-Term Outlook

3 Areas to Consider for Increased Savings

One lesson the average American should have learned from the recent financial crisis and gradual recovery is that putting more money into savings is, in general, good, says veteran financial expert Jeff Gorton.
“When things are fine, most of us are prone to commit less of our money to savings; when the economy is down, however, we realize that having money is far more important than spending it on things we don’t need,” says Gorton, a veteran Certified Public Accountant and Certified Financial Planner™, and head of Gorton Financial Group.

The personal savings rate in July 2005 hit an all-time low at just 2 percent, according to the Bureau of Labor Statistics. But in May 2009, near the beginning of the recession, the average American’s savings rate hit a high of 8 percent.

Wed
21
May
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Positioning Family Real Estate Ownership for future results

By Clifford Hockley, President, Bluestone and Hockley Real Estate Services

As you purchase real estate assets for future success you have some basic planning issues to consider:

1. Usually real estate investors establish an initial investment time frame for each investment, typically 5-10 years with a median hold time of seven years.

2. This usually works off the initial purchase costs and gives you some time to improve the operation of the property and allow it to appreciate in value.. With time and physical and managerial upgrades you can improve the prospects for consistent returns.

The Basics

Wed
21
May
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It’s Time for Sales Managers to Tip the Boat! How to Make a Splash by Managing at All Levels

by Sales Management Expert Kevin Higgins
Ongoing management. Low performers, mid-level performers and even high performers need it. It does not assume high performance, and once high performing, does not assume it will always continue. Everyone needs to be managed on a consistent basis. In sales, the goal of ongoing management is participation rate.
Participation rate is the percentage of sales team members who are at or above plan. For a sales team, participation rate is easy to calculate. On a team of ten people where four are above their sales plan on a YTD basis, the participation rate is 40%.

Wed
21
May
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The simple solution to handling packages

By Barry Hume, president of Package Concierge

Many of today’s consumers enjoy the convenience of purchasing everything from groceries to gadgets online rather than traveling to brick-and-mortar stores. While the convenience is a great benefit, online shopping is driving the need for creative solutions to manage package volume in apartment communities – and that has made digital package lockers one of the hottest new amenities in 2014.

Wed
21
May
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How To Turn An Unhappy Resident Into A Raving Fan!

by Ernest F. Oriente

This can happen when you least expect it: An unhappy resident has just arrived in your leasing office while your telephone is ringing, budgets are due in 25 minutes and six future residents are waiting to tour your wonderful apartment community. Time to panic, right? Not a chance! Read this article and use these three easy steps to handle an unhappy resident while turning them into a raving fan.

Wed
21
May
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Dear Maintenance Men: May 2014

By Jerry L'Ecuyer & Frank Alvarez

Dear Maintenance Men:
I am starting my planning for a major kitchen cabinet remodeling project in my rental units. However, I am having a difficult time making material and design decisions. What recommendations can you give?
Allen.

Wed
21
May
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Understanding the Financial Music

It’s a given that real estate is cyclic – and knowing as much as possible about these cycles can be a significant help in maximizing values or perhaps, avoiding a disaster. In general, the four phases of every cycle are: Recession, Recovery, Expansion and Oversupply. Knowing where you are in the cycle is critical as we all found out in the fall of 2008 when commercial values fell off the table. Looking at the cycles in terms of “financing” provides further insight into the cycles and should help investors appreciate the current opportunities and predict when the music will again stop – and it will. To provide clarity – let’s take a look at the past.

Wed
21
May
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THE STRUCTURE AND CLEANING OF DRYER VENTS

The vents of dryers serve the same purpose as the chimney of a fireplace: a way for exhaust to be allowed to get out of the building.
Usually these vents are vented through the roof or out the side of your buildings. Either way, there must be a clear passage for the exhaust to get out.

Structural: Under no circumstances should these vents be allowed to vent anywhere inside the building, such as an attic or the like. This is simply allowing the exhaust and flammable lint to be vented into an enclosed, often unattended area. This is a fire waiting to happen.

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