HOW PROFESSIONAL PROPERTY MANAGERS HELP IN HURRICANE PREPAREDNESS by Dave Sweyer

We are nearing the peak of the Atlantic hurricane season and, thankfully, the season thus far has been relatively uneventful for those of us in the coastal Carolina area.

Being prepared for hurricanes is a regular part of life in our area. Those who have experienced these storms before likely have supplies ready – think flashlights, water, non-perishable food, battery-operated radios, back-up power supplies/generators – in their homes, as well as a “get-out-of-Dodge” plan in place for when the tropical winds and rains inevitably come calling.

But what if you own rental properties in the area? Surely even the most responsible tenants can’t be expected to care for your investment as you would. Or, better yet, care for it as a professional property manager would.

Professional property management companies have both the in-house staff and close vendor relationships that will allow them to assist in taking care of those last-minute

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Comparing Traditional Versus Tech-Enabled Property Management

Co-Founder & CMO at Poplar Homes, a tech-enabled property management company with 2,200+ doors under management across 10 major metros.

Property management is going through an evolution right now, and tech providers have stepped up to the plate to disrupt the industry. There are plenty of incentives as to why. Among them, rental market share continues to grow steadily, making real estate investing an appealing alternative to stock market volatility.

Investors looking for assistance in managing and maintaining their portfolios are now faced with choosing between traditional and tech-enabled property management companies. 

The Key Differences In Property Management Operation Styles

Whether you have one property or five, you’re more likely to feel the impacts of poor performance when operating at this scale. This makes management style crucial. With that in mind, what do property owners need to know when looking at a potential partner?

Traditional Property Management

Traditional

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How to Motivate Property Management Teams

If you want to operate a successful residential community, focus on making your employees happy and motivated.

“Property management is relationship building,” said Alan Kessman, regional manager at Universe Holdings. ”We don’t manage property. We manage people.”

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When property management companies lose staff, they must place more responsibility on a smaller amount of employees, leading to burnout and instability within the group and at the individual buildings. Additionally, employee turnover wastes time and can be costly in the long-term. The average cost to replace a salaried employee is six to nine months of the employee’s salary, according to the Society for Human Resource Management.

Today, every industry is focused on attracting and retaining employees, but property management companies have reason to be more concerned than others. According to the National Apartment Association, the overall average employee turnover rate for property management staff is 33 percent, much higher

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RENTAL PROPERTIES: TO FURNISH OR NOT TO FURNISH? by Dave Sweyer

Rental properties can be great investments and provide month-over-month profit for owners, while simultaneously accruing equity over the longer term.

Some owners have a single rental property, while others have multiple properties as part of their overall investment portfolios. Every investor’s goals will be different, and rarely is a choice plainly right or wrong, or the solution to an issue black and white.

One major question property investors face is whether to offer their long-term rental properties furnished or unfurnished. And, of course, not one size fits all.

This is an area in which working with an experienced property management firm can be a tremendous value add to your investment. In some parts of a city or an area, furnished rentals make much more sense than in others. The best property managers and management firms will live and breathe the markets they serve and be well-positioned to provide advice

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Fremont Actual Estate Weblog

INSURANCE COVERAGE DEALER An insurance coverage dealer may help you purchase property and mortgage life insurance. Your lender can also aid you with mortgage life insurance coverage.

real estate investing for dummies

Actual property investing experience can actually accommodate the luxury residence market. Let’s begin with the cost. No seller goes to conform to a purchase order contract with out 1) checking your credit score, and a couple of), getting a considerable earnest cash deposit. Assuming, however, you’ll be able to overcome these issues, after you have a contract you possibly can end up locked in if you are not likely cautious – in case Real estate news you cannot promote the contract to an finish buyer in the time out there, you may get stuck having to buy, and that may be a critical threat. Although YSI oversaw only about 9 percent of the state’s juvenile jail beds in … Read the rest

Landlords, tenants urged to take advantage of rental assistance as eviction moratorium ends

Activists erect a sign calling for a halt to evictions in Swampscott, Mass. A Cedar Rapids property manager estimates between 2,000 to 4,000 renters face eviction in the city now that the pandemic ban on evictions has expired. (Associated Press)

CEDAR RAPIDS — The impact of a Supreme Court decision blocking a temporary ban on evictions because of the coronavirus pandemic could lead to a spike in renters being forced out of their homes, though an Iowa Legal Aid attorney said the full impact may not be immediately apparent.

While renters faced a similar situation when the moratorium was set to expire in July, “we don’t yet know exactly how bad it will be,” Alex Kornya, general counsel at Iowa Legal Aid, said.

A Census Bureau survey found that 40 percent of Iowa adults in households not current on rent or mortgage were “very likely” or “somewhat likely” to face

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Summit County officials call short-term rental conversion ideas a ‘starting point’

Short-term rental properties in the Copper Mountain Resort village are pictured Aug. 13. Community leaders are discussing strategies that would incentivize owners of short-term rentals to convert their properties into long-term housing through the use of opportunity zones. These zones would target areas traditionally occupied by locals and not areas like Copper Mountain or Keystone.
Photo by Ashley Low

When the Summit Alliance of Vacation Rental Managers put together its Welcome Workforce program, President Toby Babich said the document was meant to be a catalyst for getting the countywide conversation started about how short-term rental owners could be incentivized to convert their units into long-term housing for locals.

The document detailing suggestions — including monthly subsidies, property tax exemptions and complimentary nights of lodging — was shared with Summit County staff earlier this month, and during a Summit Board of County Commissioners work session meeting Tuesday, Aug. 24, elected officials

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Property manager says the eviction system was lacking

Rachel DeCamp manages 500 properties and believed the program would have been helpful if it was explained to renters.

JACKSONVILLE, Fla. — It was a ruling by the Supreme Court Rachel DeCamp was closely watching and waiting for. 

As a property manager, she knows the effects ending the eviction moratorium will have on renters, but she’s also concerned about her property owners – some of whom she says haven’t been paid for 8 months or more. 

“It just seemed like the system was lacking to perform for the benefit of keeping that owner and that tenant together,” she told First Coast News. 

DeCamp has issues with how the program was rolled out, including what she says was a lack of timely financial resources given to the tenants. “If they started with the rental assistance first, I think that would have helped us better than setting this moratorium,” she said.

She

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The Peabody Companies Announces Kerry Anne Dervil as Senior Property Manager

Kerry Anne Dervil

BRAINTREE, TAUNTON, MA- The Peabody Companies, a property management and real estate firm, has announced Kerry Anne Dervil of Taunton, Mass., as a senior property manager.

In this role she is responsible for the physical, financial, and administrative operations of the buildings within her portfolio, including day-to-day site property duties, resident relations, budgetary analysis and staff supervision, training, and development.

Dervil joins the Peabody Companies with extensive experience in the property management industry, most recently with First Realty Management in Boston. She holds a C10P Tax Credit Certification, an Associate in Risk Management (ARM™) designation, a Fair Housing Compliance (FHC) certificate, and a National Affordable Housing Professional Executive (NAHPE) certificate.  She is a Specialist in Housing Credit Management (SHCM) and a Certified Property Manager (CPM), as well as a notary public for the commonwealth of Massachusetts.

A graduate of Fisher College with an associate degree in

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Kentucky property manager, wife to pay $48,000 |

A Kentucky property manager and his wife have agreed to pay $48,000 in a case in which he was accused of sexually harassing female tenants at an apartment building she owned.

Gus and Penny Crank also agreed to pay a $2,000 penalty to the federal government, according to the court record.

Penny Crank co-owned a small apartment building in Dayton, in Northern Kentucky, and her husband managed it, collecting rent and making repairs, according to court records.

The U.S. Department of Justice filed a lawsuit against the couple under the federal Fair Housing Act in March 2019 alleging that Gus Crank had subjected women in the apartments to “severe, pervasive” sexual harassment.

Crank asked tenants to perform oral sex or other sex acts in order to keep their apartments; made sexual comments to them and touched them; coerced women into sexual contact; offered to cut tenants’ rent in exchange for

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