Property Management Brainstorm

As a landlord or property manager, do you ever feel like the word “landlord” comes with a negative connotation? The word has been in use for over 1000 years, dating back to an Old English concept, in which tracts of land were owned by a single person who came to be known as a "lord", and those occupying the land became bound and dependent on their lords for protection and of course obligated to pay rent for that privilege. Even though our culture has moved well beyond this ancient system, the lingering negative essence of the word "landlord" remains for many. For some in the industry, we need to change the narrative away from the term 'landlord" with a preference for "housing provider". On this episode of Property Management Brainstorm, Bob's guests are Mark Scott, of Encore Realty, in Bonita, CA and Danielle Rogers, of All Seasons LLC,  in Colorado Springs, CO. Both of our guests are involved in national, state, and local government affairs and action committees a

We are very proud that North County Property Group has been awarded with the CRMC designation by the National Association of Residential Property Managers ( NARPM).  CRMC stands for Certified Residential Management Company and we are the only property management company in San Diego County to have this honor, only one of four in all of California, and one of less than 50 nationwide.  So what is the big deal and why are property management designations important?  The CRMC and other designations such as the Residential Management Professional (RMP) and Master Property Manager (MPM), shows the world and your local market that you are experienced, educated, have good processes, and have subjected yourself to an outside party for evaluation, audit, and certification.  Would you want someone who is not a CPA to handle your tax return?  I doubt it!  Likewise, why would you want someone who does not have a designation to manage your property? Designations are an endorsement of the property manager's systems, pr

Hello and Labor Day weekend!  As the Summer winds down and we move into Fall, Property Management Brainstorm wants to say thank you for your trust and confidence as a listener of the podcast. Our objective, and Bob Preston's as well, is to be a trusted source of information for you as a real estate investor, landlord, or property manager. Counting you among our listeners is something for which we are especially grateful.We are also proud to announce that our podcast host, and CEO of North County Property Group, Bob Preston, has been elected to the Board of Directors for the National Association of Residential Property Managers (NARPM®). We thought our listeners would be interested to know that Bob will be serving NARPM at the national level for a two-year term as the Southwest Regional Vice President and board member, having been nominated and elected by NARPM members who are a group of property management peers within the industry.  If you are not familiar with NARPM, it is the industry association, tra

As a landlord or property manager, do you ever feel like you just can’t take a break from your property management job? Keeping your eyes on the ball so nothing falls through the cracks at your rental properties can be a never-ending concern. Maintenance requests, property viewings, leases to review and sign, tenant move ins, rent collection. Yikes! Research shows that many small business owners either don’t take vacation, or when they do, it’s a “working vacation”. On this episode of Property Management Brainstorm, Bob's guests are Kathleen Richards of PM Made Easy and The Property Management Coach in Santa Cruz, CA; Liz Cleyman of Grace Property Management in Thorton, Colorado; and Kellie Tollifson of T-Square Properties in Bothell, WA. Bob and the panel discuss the top five reasons why, even property managers, should take a vacation from their business. They will also share their own personal tips and secrets on planning that occasional escape and how it benefits their companies when they do find time

The Housing Choice Voucher (HCV) program, often referred to as Section 8, is federal government assistance, administered by HUD, for very low-income families, the elderly, and the disabled. The purpose of the program is to provide participants with affordable, decent, safe, and sanitary housing in the private market. Participants are provided with financial assistance, in the form of a voucher, so they can find their own housing within single-family homes, condominiums, townhouses, or apartments in any geographical location. The goal then, of the Section 8 program is to deliver on the promise of housing choice and opportunity for participating  individuals.Bob  discusses Section 8 and some of its challenges. Joining the show on the panel is Tyler Craddock, the Governmental Affairs Director for NARPM; Patti Robertson of Property Management Inc (PMI)  Virginia; and Amanda Han of Cornerstone Properties in Aiea, Hawaii.  Topics Covered[2:15] Tyler, Patti, and Amanda introduce themselves and their companies.[3:15]

Hello Brainstorm faithful!  We are happy to be back on the air with more Five Minute Friday and Property Management Brainstorm episodes, refreshed and invigorated after a month long hiatus for vacation, family time, and clarity breaks!  In this FMF, Bob makes the announcement  that he is now a NARPM® MPM®!  That is, the Master Property Manager designation from the National Association of Residential Property Managers. Bob has worked hard over the past year to achieve this designation and honor and describes his journey to obtain the award. At this time, Bob is the only MPM in all of San Diego County property managment and one of only about 270 nationwide, so it is definitely a distinction to be proud of and is kind of a big deal! An MPM® designation is the highest that an individual member of NARPM can achieve. Obtaining the MPM sets a property manager apart due to the extensive education requirements, managing a minimum of 500 properties over a five year period, and giving back in the form of volunteer work

Hello Brainstormers!  We hope you all had a very happy and safe 4th of July holiday and are enjoying your summer! It is great to have things open again for the beach, BBQs, and fireworks, wherever you may be. We needed a day off on the 4th and we are sure those of you in the property management business did too!  It’s been tough to keep up with the show that past few weeks as we’ve been making some changes at North County Property Group to pivot back to a full reopening scenario in the State of California and at our company. Just like when the pandemic started and we had to put new policies in place to adjust to the stay at home orders, we are now rolling back some of the policies we had put in place and opening up our office in full again. June was an interesting month as we determined the rules implemented here in California and where we needed to pivot to adjust to full reopening. Bob is going to be taking some clarity time during the rest of July to enjoy time with his family, so we will be pausing our Pr

As a property manager or landlord, do you ever worry that you are not truly getting the full financial picture when screening tenant applications? A rental application may look quite good and complete, but in reality, some of the aspects that would be helpful in making a decision may not be visible. Wouldn’t it be cool if you could verify renter's income, payroll, past rent payments, NSF & overdrafts all in one, easy to pull, screening report? On this episode of Property Management Brainstorm, Bob speaks with Craig Schoen, CTO at Rentify.  Rentify is a company dedicated to helping property managers and landlords utilize a new approach to get that full picture of a tenant's financial strength during the screening process.Topics Covered[2:40] Craig introduces himself and the concept of "open banking technology" in their solution to tenant screening during the rental application process.[3:45] What is open banking technology and how long has it been around?[5:30]  Streamlining the rental

Bob Preston, host of Property Management Brainstorm, discusses the topic of relationship management in property management with Zach Williams of the Partnerships and Business Development Team at Podium.  Several of the best practices in relationship management involve connecting with customers through ongoing messaging touchpoints and online reviews.Podium is a customer messaging platform that can help property management companies achieve these ongoing touchpoints, ultimately bolstering their customer relationship management and loyalty. Zach joins Bob to tell us more about Podium and their messaging platforms.Topics Covered[2:15] Zach kicks things off by introducing himself and provide the quick elevator pitch about Podium.[5:30] Bob asks Zach to explain the difference between relationship management and interaction management for property managers.[6:20]  What specifically is meant by "messaging tools"?[8:08] Managing the messaging tools through the Podium software as a service dashboard.[9:45] R

As a landlord or property manager, do you ever worry that a maintenance vendor you send to a property might not have the correct insurance coverage? Dispatching a repairman with insufficient or expired insurance could create a liability on your property management business. Further, its a big job to track all of the insurance policies from vendors to make sure they remain in compliance with your standards for coverage. On this episode of Property Management Brainstorm, Bob discusses the topic of tracking certificates of insurance with Dave Bixler of Thimble. Dave explains a service called Certificate Manager that helps landlords and property managers make sure vendors and contractors have the right policy in place and provides for tracking Certificates of Insurance in one online location.Topics Covered[2:55] Dave Bixler introduces himself and Thimble.[4:15] Why it's  important to make sure that those vendors have proper insurance coverage. [4:55]  What type of insurance should a landlord and property man

In the crowded space of the property management industry, making sure your company is standing out in the crowd is more important than ever. Tech savvy property managers are using digital media to snag single family owners with through their online presence. So, what about you? Are you putting your best foot forward with digital marketing?On this episode of Property Management Brainstorm, Bob discusses the topic of digital marketing for property management companies with Nicki Callahan, Founder of Nest Publications. Nest Publications is a digital marketing group that is helping to drive property management business leads and revenue. Topics Covered[2:20] Nicki introduces herself and explains what Nest Publications is all about.[3:40] The concept of a "digital magazine" for promoting property management companies and their rental listings.[5:00]  Nest Publications is currently servicing 8 states, hopes to be nationwide soon. [6:15] Branding and content for the digital magazine.[8:10] How is the digit

California's Proposition 19, goes into effect on April 1, 2021,  offering many protections to California home owners. If you are a California homeowner or investor, could you take advantage of the new benefits provided under this new law? Today's Five Minute Friday offers a quick summary of what Prop 19 is all about.  1. Senior citizens often live in homes that are no longer a fit because it may be too large or far away from loved ones or medical providers. 2. Severely disabled individuals might live in a residence that is no longer safe or suitable. 3. California wildfire victims, possibly losing everything if their home was destroyed, could have property tax hikes if they desire to move to a new home.Because of these new advantages and if you meet any of the criteria above, this might be the time to selling your California home, even if it is a rental home or a vacation home.Have a listen to learn more about Proposition 19. If you are interested in taking advantage of Proposition 19 by selling you

So far in 2021, we have been featuring new opportunities in the property management industry. One area not yet explored on the show is Real Estate Syndication.  As a general definition, real estate syndication is a partnership between several investors. They combine their skills and capital to purchase and manage a property they otherwise could not afford. If you’ve got an eye for a good deal and good partners, this might be a great opportunity to explore in 2021, either as the syndicator or as an investor.On this episode of Property Management Brainstorm, Bob discusses the topic of Real Estate Syndication with AJ Shepard of Uptown Property Management, Portland Oregon. He and his company are expanding their business by syndicating real estate, pooling money from investors to buy larger, more profitable, and more stable projects. We are excited to hear what he has to say and how he views this area of opportunity for investors and property management companies. Topics Covered[2:40] AJ introduces himself, his co

For the listeners who know Bob and his involvement in the National Association of Real Estate Property Managers, NARPM, you will remember that he is currently the President of the California Chapter.  Last week was the CALNARPM annual conference and it was quite an event!  For those who were not able to attend, Bob is dedicating this week's FMF to a quick overview of the conference and provides his top takeaways.  Maybe this will convince you, even if you are not in the state of California, that it is a must attend next Spring, when the conference will next be held, hopefully in person as a live event in either Palm Springs or Napa Valley.1) Great education opportunities – The conference had nineteen speakers on various topics related to being a landlord or property manager in the state of California. 2) Accessibility and low cost of attendance - This year the conference was conducted virtually, first time ever, due to the pandemic.  Because of the virtual platform, the costs were a lot lower which allo

Most everyone would agree that 2020 was a challenging year for running a business, regardless of industry.  For many property managers, it’s great to still be standing after all of the challenges presented from the COVID-19 pandemic. As we enter 2021, maybe in the midst of planning and goal setting for the year, there is no better time to be pondering the business opportunities available in the property management industry. On this episode of Property Management Brainstorm, Bob discusses the topic or opportunities in property management with Brad Larsen, Broker/Owner at RentWerx in San Antonio, TX.  Brad is very plugged into the industry so it's a lively discussion about some great opportunities in the industry that are ripe for the taking.Topics Covered[2:25] Brad introduces himself and company, RentWerx San Antonio as well as his upcoming conference PMMCON. He also shares his experience from the recent Texas freeze weather event.[5:45] A common theme in the industry - many plans and goals got tabled in

Landlords have many responsibilities when it comes to renting their investment properties, working with their tenants, and keeping the property well maintained.  On this episode of Five Minute Friday, Bob Preston provides his Top List of 8 Critical Landlord Responsibilities. 1.  Comply with Anti-Discrimination Laws2.  Preparing the Lease or Rental Agreement3.  Make Legally Required Disclosures4.  Know the Rules Regarding Security Deposits5.  Follow Other Specific Aspects of Landlord/Tenant Law6.  Provide for Habitable Housing Conditions7.  Respect a Tenant's Right to Privacy8.  Don't Retaliate Against a Tenant Who Exercises a Legal RightThat is Bob's top list of responsibilities, make sure and have a listen! There are many other important aspects not covered, so if you have any questions or would like to discuss further details, don’t hesitate to reach out to Bob or contact us at North County Property Group. Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/This episode is al

How much should a landlord expect to spend keeping their home maintained? It's a common question and there are some rules of thumb and considerations owners of rental properties can keep in mind when setting aside reserves to handle unexpected reserves.The 1% Rule:  this popular rule says that 1% of the purchase price of your home should be set aside each year for ongoing maintenance. Using this logic, if your home is worth $450,000, you should set $375 a month for expected home maintenance and anticipate about $4,500 in repair costs during the year.The Square-Foot Rule: another practical approach is to budget $1 per square foot for annual maintenance and repair costs. This rule is slightly more consistent than the 1% rule because it's directly related to the size of the home. Keep in mind, however, that  market prices for contractors and building materials can vary significantly from region to region. Using this logic, if you have a 3,000 square foot home, you should set aside $250 a month or $3,00

On this episode, Bob discusses the evolution of the property management software market with his  guest, Joe Easton, Channel Partner Account Manager, at one such solution called Rent Manager. Joe shares his views about the property management software market and about Rent Manager,  which combines many features needed by property managers to run their businesses into a single integrated solution. Topics Covered[2:30] Bob greets Joe Easton to the show and asks him to introduce himself and product, Rent Manager.[4:25] Where does Rent Manager fall on that spectrum of the various property management software solutions available?[6:25] Joe describes Rent Manager's differentiation and strategic advantage from the other property management software platforms along that spectrum.  [7:50] How Rent Manager avoids feature creep and prioritizes which new features to implement.[10:15] Joe describes the critical feature sets of the Rent Manager software and the importance of integrated communications within the platfo

On January 28, 2021, California Governor Gavin Newsom extended the state's eviction moratorium through June 30, 2021, by signing legistlation enacting the new SB 91. In this FMF, Bob Preston does his best to review key elements of SB 91 which combines with the previously passes AB 3088 to provide tenants with rent cap and eviction protections. Pauses evictions for tenants with an inability to pay all or part of rent due to COVID-19 financial distress.Establishes a State Rental Assistance Program, allocating $2.6 billion in federal rental assistance to be received by California.The program will aid tenants most at risk with unpaid rent but will aso assist eligible property owners with 80 percent rent reimbursement for amounts owed to them within defined dates.Prohibits landlords from selling or assigning rental debt to other creditors.Prohibits landlords from using COVID-19 financial distress as a negative factor in screening rental applications.View the Full State of California Press ReleaseConnect with

Eviction law in California has changed quite a bit over the past year, first with “just cause” legislation introduced as part of State Assembly Bill 1482, the Tenant Protection Act of 2019, and then with moratoriums introduced as part of the Governor Gavin Newsome’s state orders by signing the Covid-19 Tenant Relief Act (AB2088) into law in response to the COVID-19 pandemic.  On this episode, Bob speaks with Niv Davidovich, Managing Partner at Davidovich Stein Law Group LLP, to discuss landlord/tenant law, eviction law, and squatters rights in the age of COVID-19.Topics Covered[2:20] Niv introduces himself and introduces the areas of his law real estate, construction, and landlord/tenant law oriented practice.[7:00] Conditions for which a landlord in California might consider evicting their tenant and what is allowed by California law.[9:49] What if a tenant is conducting illegal activity at the property, is that cause for eviction? [12:00] What are the steps involved in providing California eviction notices