Sunday, February 26, 2012

Federal Laws Property Managers Must Be Aware Of – Part I

Posted on 31. Jan, 2012 by Mary Girsch-Bock in Law
Sometimes it seems as if all property managers spend a majority of their time memorizing various rules and regulations. New employees in particular are always trying to learn basic rules such as “when do we return security deposits, or what account does this deposit go into?” But one of the most important set of rules that property managers must be aware of, and have some working knowledge of are federal laws. While memorization is not needed, property managers MUST be aware of the general regulations that these Acts encompass, and must know when further research is necessary in order to clarify any issues that may come up. I’ve summarized a list of federal laws that property managers should be aware of as well as the possible repercussions if violated.
The Fair Housing Act – While the majority of property managers are well acquainted with the Fair Housing Act, here’s a brief recap. The Fair Housing Act prohibits discrimination in the sale, rental, or financing of housing based on race, color, religion, national origin, sex, familial status, or handicap. Penalties for violating the Fair Housing Act are stiff, and include revocation of any license held, and possible federal prison. Make sure you and your staff treat all applicants equally and this should never become an issue.
The Sherman Antitrust Act – This act is designed to promote competition in the open marketplace. While property managers do need to know competitor’s pricing, managers must avoid the appearance of conspiring to fix prices in order to thwart the competition. Only the courts can determine if price fixing has occurred, and a conviction can result in both civil and criminal penalties including time in a federal penitentiary. That simple verbal agreement between property management companies agreeing to maintain similar rents will send a red flag. Remember, all that is necessary is that it looks like price fixing, and you may find yourself in federal court. Avoid even the appearance of price fixing at all costs.
Americans With Disabilities Act (ADA) – The rules of the ADA are complex and multi-tiered. Briefly, the ADA states that no person may be discriminated against on the basis of disability. The ADA mainly affects commercial property managers, but the Act also covers property management offices, which must be made available to all handicapped individuals. Take some time to familiarize yourself with the basics and be sure to keep your office in compliance.

http://www.propertymanager.com/2012/01/federal-laws-property-managers/

Thursday, February 23, 2012

Resident retention is just as important as new tenants!

Retaining Residents

Posted on 27. Oct, 2011 by Mary Girsch-Bock in Resident Retention
While the number of renters in the market has increased in the last few years, retaining good tenants can still pose a problem for property managers. Maintaining a current resident is much less expensive than locating, approving, and moving in a new tenant. Of course the nature of renting itself is often transient; many people rent while looking for a home to buy, others only in the community for a short period of time.
But there are a select group of tenants that would be more than happy to stay in the community where they rent; provided that they’re happy.
So how do you make…and keep your tenants happy? Perhaps most important is good customer service. Most people, by nature, do not really enjoy moving frequently and will likely find reasons to stay where they are, providing that they receive the following:
  • Good staff responsiveness – Do you always respond promptly to tenant requests? Are maintenance issues resolved quickly and professionally? Are complaints or other issues handled properly, or are they just put aside? These are all important issues and tenants will remember how they are handled (or not handled) at renewal time.
  • Maintaining the look and quality of the property – Obviously, your properties should be maintained anyway, but many tenants that do become dissatisfied with their apartment home cite issues such as “the property went downhill.” While not very descriptive, this can mean anything from neglected landscaping, trash scattered throughout the property, or becoming careless about whom you rent to. Tenants think of their apartment as their home, and coming home to suspicious characters hanging out in the parking lot, or trash blowing around in the wind will make a tenant seriously consider moving come renewal time.
  • Keep them informed and involved – What’s going on in the community that you can share with your tenants? A monthly newsletter, holiday wine & cheese parties, an annual property yard sale, all of these things help to create a feeling of community, and that can be potent.
  • Consistency in Staffing – While a change of staff cannot always be prevented, it’s important to maintain some consistency in the rental office. Tenants often become very attached to office personnel, and frequent staff turnover may not only affect property performance, but tenant turnover as well.
While there will always be tenant turnover, building and maintaining a solid community will help you maintain more of your tenants come renewal time.

http://www.propertymanager.com/2011/10/retaining-residents/

Wednesday, February 15, 2012

New Books

Our new books are hitting the stand this week!! Look for them at your favorite Central Oregon destinations this week!!

The Rental Shop, LLC won our free cover contest and are featured on the front!!!!

Saturday, February 11, 2012

Interested In Cross Country Skiing?

Never XC skied before but want to give it a shot and you missed the opportunity in January? 

Join Bend Endurance Academy for a free introduction to the lifelong sport of cross-country skiing.

For more information, visit www.visitbend.com

http://www.visitbend.com/Bend_Oregon_Activities_Recreation/bend_oregon_events_calendar/Learn_to_Ski_Day_II 

Monday, February 6, 2012

The High Desert Museum!!!

Have you checked out the new exhibit going on at the High Desert Museum right now?

Its called Leepers and Creepers and features over 20 different species of fascinating native and exotic frogs and reptiles up close, from poison dart frogs, chameleons and geckos to python and boa snakes. Learn their fascinating natural history and conservation topics through interactive activities.

It really is a great exhibit, the colors of the frogs they have are amazing! They have huge tortoises and have times during the day you can go touch them! My boys loved watching them eat!! 

If you have a chance, go check it out! February 25th, the Museum is having another free family day!! What better time to go!! 



http://www.highdesertmuseum.org/exhibits/Indoor_Exhibits/Leapers_and_Creepers/

Friday, February 3, 2012

First Friday Art Walk!!! Tonight in Downtown!!!!!

View sensational local and national art at dozens of businesses downtown on the first Friday of every month. Shops are matched with artists and stay open late. Many businesses will serve food and wine as they welcome you in to enjoy their space and this wonderful evening.

Going on tonight in Downtown Bend starting at 5pm! This is a great free event!!