Property Management Brainstorm

Our listeners have been eager to hear the latest updates on being a landlord during the COVID-19 pandemic. On this episode, Bob discusses this topic with Tracey Merrell, Managing Attorney of Education, at Kimball, Tirey & St.John (KTS), a law firm with a practice in California residential landlord/tenant law.Comments made for this broadcast are for general information purposes only and is not intended as legal advice. Participation in the podcast will not create an attorney-client relationship between the listener and Tracey Merrell or with Kimball Tirey and St. John. For advice with specific issues, please contact an attorney. Discussions of the new legislative updates are not exhaustive and are potentially fluid situations and the interpretation of the laws may change as they have been recently passed.Topics Covered[2:55] The episode is within the context of California landlord/tenant law.[3:55] Introduction to Tracey Merrell, her background, and position at KTS.[4:45] KTS risk management disclaimer.[6:

On this episode of Five Minute Friday, Bob shares the story of key decision making at North County Property Group in adapting the company to telecommuting, new workflows, technology for virtual tours, self-showings, and more during the COVID-19 pandemic. Most of the changes were proactively made as early as March 13, 2020, six days before California Governor Gavin Newsom issued the first statewide stay-at-home orders in the country to establish consistency to slow the spread of COVID-19. It has now been seven weeks of shelter-in-place, in a fluid and unprecedented time, during which the company had its opportunity to “Be the Lighthouse”.Topics Covered[1:00] Bob describes the company's Friday staff meetings before the pandemic and previously using consensus in decision making.[1:30] How things quickly changed, requiring decisiveness to focus on the greater good for the safety and health of the company's stakeholders.[1:54] Bob explains what he means by "Be the Lighthouse".[2:50] The importa

One of the most common water related incidents at rental properties is leaking or failing water heater. There has never been a time when hot water might be more essential, with all of us on stay-at-home orders, than during the COVID-19 pandemic. A failing water heater is a huge inconvenience to the homeowner or tenant who has to live without hot water for some period of time. Scott Costa represents a company that specialized in one thing ... Water Heaters Only know a thing or two about the topic. On this episode, Bob and Scott discuss why water heaters fail, what are the signs to look for when a water heater needs to be replaced, what the options are for selecting a water heater, and the new California building codes related to water heater installation.Topics Covered[3:20] Scott's background and intro to Water Heaters Only[4:45] Getting a water heater 24/7/365[6:30] Keeping hygienic and sanitization practices during COVID-19 pandemic[9:20] Why do water heaters fail?[11:10] Building codes in California a

Property Management Brainstorm had temporarily paused producing the show, taking a brief hiatus, during the peak of the COVID-19 pandemic. There is so much to catch up on and we are pleased to let you know we are back in production!  On this episode, Bob explains the reasons for taking a break with the podcast and what changes his team has made in the meantime during the COVID-19 pandemic to stay focused on managing their properties while keeping their staff and tenants safe and healthy.Topics Covered[1:35] Bob announces Property Mangement Brainstorm will reinstitute production of the show starting today![2:40] The reasons why Property Management Brainstrom was paused during COVID-19.[4:15] Adjusting to working remotely as a property management team and how North County Property Group has stayed connected.[5:15] Precautions taken in the daily workflow during the COVID-19 pandemic.Virtual team meetingsWorking with vendors on essential property maintenance items using CDC guidelinesAdjustments made in showing p

We’re all feeling uncertainty around the mounting COVID-19 health crisis. And what serves as a best practice today may change tomorrow.On this episode, Bob shares his decision to temporarily suspend production of Property Management Brainstorm in light of the Coronavirus pandemic. He discusses the daily changes in processes and mindset adjustments required of landlords and property managers during this unprecedented time. Bob goes on to explain the possibility that he will do an occasional check-in regarding current events or news related to the industry while production is suspended. Listen in for Bob’s thoughts on staying safe and healthy in the coming weeks and find out when he plans to be back on the air with another episode of the Property Management Brainstorm show! Topics Covered[0:53] The uncertainty we’re all feeling around the mounting COVOID-19 health crisis[1:12] How the Coronavirus pandemic requires daily changes in processes and mindset adjustments for us as landlords and property managers[1:24

The Coronavirus pandemic is on everyone’s mind right now. So, what can we do as landlords to protect the health and safety of our staff, property owners, tenants and vendors?On this episode of Five Minute Friday, Bob explains how the North County Property Group team is staying on top of our job responsibilities through a remote work setup and what you can do to reach us if need be. He discusses the precautions NCPG is taking when it comes to fulfilling maintenance requests and performing inspections during the COVID-19 health crisis.Bob goes on to share how NCPG is adjusting our showing policies for active rental listings, introducing us to the idea of a Rent Ready Date and explaining why we are suspending Open Houses for the time being. Listen in for insight around the potential for rent relief initiatives and eviction restrictions—and learn what NCPG is doing to ensure the health and safety of our stakeholders during this unprecedented time.Topics Covered[0:42] North County Property Group’s commitment to th

If you’re an individual, self-managing landlord or you manage a small portfolio of rentals, what is your best option when it comes to property management software?Dave Spooner is the Cofounder of Innago, a free property management software platform designed to help small, independent landlords manage their rentals. Today, Dave joins Bob to explain what differentiates Innago from other platforms in terms of being intuitive and easy to use, yet flexible enough to allow for growth.Dave discusses what his team does to attract their target clients and walks us through the five pillars of Innago feature set. Listen in to understand what the Innago user interface looks like for tenants versus landlords and learn how the software helps property managers level up their professionalism.Topics Covered[2:51] Dave’s background in SaaS startups and what inspired the creation of Innago[4:35] Why Dave’s team refers to their product as ‘tenant management software’[5:27] Where Innago fits on the spectrum of property management

If you enlist the help of a property management company to manage your rental, you may be curious how rent is collected from the tenant and then forwarded to your bank account.On this episode of Five Minute Friday, Bob walks us through North County Property Group’s best practices around the flow of funds in a rental property. He explains when rent is due and where it’s deposited, discussing how NCPG tracks incoming rent payments and why his team offers tenants a five-day grace period.Bob goes on to introduce us to the Tenant Portal, an online platform where NCPG renters pay by eCheck or credit card, and describe what happens if rent is not paid within the five-day grace period. Listen in to understand how the accounting department pays vendors the first week of the month and sends property owners a monthly statement in parallel with their distribution deposit.Topics Covered[0:44] North County Property Group’s best practices around the flow of funds in a rental property [1:11] When rent is due and where it’s d

Placing a new tenant in a rental property seems simple enough. But the fact is, there are A LOT of moving parts at play from the time a property is listed until the tenant moves in and starts paying rent. So, what does the tenant placement process look like? On this episode of Five Minute Friday, Bob walks us through North County Property Group’s proven tenant placement process. He discusses the importance of creating an effective marketing plan and property listing for each rental and explains how his team responds to prospective tenant leads and schedules showings.Bob goes on to share how prospects submit their rental application and supporting documents online and what NCPG does to screen each applicant (and their pets!). Listen in to understand the process of drafting the lease, securing the rental deposit and first month’s rent, and meeting the tenant for a move-in inspection and key exchange—and learn how NCPG follows fair housing guidelines throughout the tenant placement process.Topics Covered[0:42] T

What could you accomplish if you never had to take another maintenance call?Ethan Lieber is the CEO of Latchel, a real estate platform that helps property managers streamline their maintenance workflow. Today, Ethan joins Bob to explain how Latchel leverages the Amazon model of crafting measurable, transparent Service Level Agreements (SLAs) to ensure customer satisfaction and discuss the common themes across SLAs for tenants, property owners and service providers.Ethan walks us through the maintenance workflow in Latchel, describing how their system plugs into a property management company’s existing processes and what they do to notify a property management team in case of emergency. Listen in to understand what information is available through the Latchel online portal and find out how Ethan’s team can take maintenance operations off your plate—so you can focus on growth!Topics Covered[2:39] The Latchel origin story and how the service streamlines your maintenance workflow [6:55] How Latchel leverages the

Are you struggling to find a property manager you can trust? Perhaps the best way to find a reliable team that provides top-notch service is to look for a property management company that provides its clients with certain guarantees.On this episode of Five Minute Friday, Bob walks us through the guarantees North County Property Group offers all its clients, including a Satisfaction, Pet and Performance Guarantee, explaining why his team doesn’t take any money from property owners until a tenant has moved in and rent is collected.Bob goes on to discuss the additional guarantees NCPG affords its Premium Program clients, describing their 30-Day Rental Guarantee, Tenant Default Assurance and 12-Month Tenant Guarantee. Listen in for insight around how Bob’s team handles the rare occasions when renters seek early termination of a lease and learn why it’s crucial to find a property manager who backs their promises with guarantees.Topics Covered[0:44] How Bob’s struggle to find a trustworthy property manager led him

The security deposit disposition, if not documented properly, has the potential to be highly contentious. So, what can we do to make the process run smoothly? And who, exactly, is responsible for performing the move-in/move-out inspections, itemizing necessary deductions, and returning the tenant’s remaining funds?On this episode of Five Minute Friday, Bob discusses who facilitates the security deposit disposition process, explaining why North County Property Group takes responsibility for identifying items to be repaired and refunding the tenant’s remaining deposit.Bob describes how the property’s condition is assessed and documented on a move-in/move-out or MIMO form when the tenant moves in and again at move-out, sharing what NCPG charges to a tenant’s security deposit and how long they have to send the former renter their remaining funds. Listen in for insight on documenting the security deposit disposition process properly to mitigate the risk of ending up in court.Topics Covered[0:39] Why North County P

Being a landlord may sound simple, but there is more to it than just running an ad, getting a great tenant and collecting a monthly check. So, what are the financial, legal and ethical obligations around managing a rental property? And how can you avoid the most common mistakes landlords make?Today on Property Management Brainstorm, Bob is flying solo to walk us through the top ten mistakes made by landlords. He explains why it’s crucial to view your rental property as a business, understand the financial implications of renting your property, and maintain adequate records.Bob discusses a landlord’s responsibilities around legal compliance, deferred maintenance and proper insurance and shares how to set a realistic rent rate, market your property and respond to inquiries. Listen in for insight on establishing a consistent tenant screening process and weigh the pros and cons of self-managing your rental versus hiring a property manager.Topics Covered[2:27] Bob’s 20 years of experience consulting with prospecti

The prevailing attitude among real estate investors is that all property management companies are much the same, so potential clients often ask, “What makes North County Property Group different?” or, “Why should we hire you?”On this episode of Five Minute Friday, Bob discusses some of NCPG’s differentiators, including their expertise in the high-end rental market and dedication to thorough tenant screening. He explains the team’s commitment to a set of guiding principles and ethics, sharing the Entrepreneurial Operating System (EOS) model they use to strive for continuous improvement.Bob goes on to describe North County Property Group’s practice of communicating with clients weekly via what they call a Listing Tracker. Listen in for insight around NCPG’s proficiency in selling a property with tenants in possession and learn what sets Bob’s team apart in terms of superior online reviews and corporate social responsibility. Topics Covered[0:40] The prevailing opinion that all property management companies are

At North County Property Group, about 25% of our portfolio are furnished short-term rental (STR) units. Clients with vacation homes in the San Diego area enjoy the cashflow that comes from renting out their furnished property when they aren’t using it, but we encourage owners to think carefully about what personal belongings to remove from the unit when guests are using the space.On this episode of Five Minute Friday, Bob offers an overview of how short-term rentals work, explaining how the properties are furnished by the owners, marketed on online travel sites, and occupied for short stays by visitors to the area.Bob goes on to discuss the risks associated with leaving belongings of financial or sentimental value in a vacation rental and the normal wear and tear that comes from having renters in and out of a STR space. Listen in for insight on deciding what personal belongings should be removed or made available during guest stays and learn how owners can secure expensive and irreplaceable items in a home wh

It’s easy for business owners to get caught up in the day-to-day and forget the visionary aspect of their job as leaders. But how do you build in time to work ON, not IN your business?Terry Ogburn is the founder of Ogburn’s Business Solutions, a consultancy that helps small businesses improve the bottom line. Today, he joins Bob to explain how he supports business owners in developing a vision for the future and designing a plan to reach their goals.Terry offers advice on taking time to reflect at the end of each day and shares the top four habits of successful business leaders. Listen in for insight on empowering your team to make mistakes and learn how to set up systems for working ON, rather than IN your business.Topics Covered[2:56] Terry’s mission to help businesses grow[3:29] The most common pitfalls for business owners [4:47] How fear can keep us working IN, rather than ON our business[6:23] How Terry helps business owners reach their goals[7:42] A leader’s role in helping employees grow and understand

What happens if a tenant stops paying rent? The headache of dealing with a renter who defaults on their lease agreement keeps some investors out of the real estate rental market altogether. So, what can property owners do to manage the risk of tenant default?On this edition of Five Minute Friday, Bob explains what happens when a tenant defaults on their lease agreement and how a professional property manager can help property owners navigate the process. He walks us through some common scenarios when life circumstances change for tenants and how North County Property Group works to relist the property and secure a new qualified tenant.Bob also shares the protections NCPG offers its Premium Level clients, including Rent Assurance and eviction cost coverage. Listen in for insight on working through the unlawful detainer process required to evict a tenant in the State of California and learn how to mitigate the risks associated with tenant default.Topics Covered[0:41] The worries that keep some real estate inves

Most real estate investors don’t realize that they can sell a property even when it is occupied by a tenant. In the state of California, this is known as selling with Tenants in Possession, or TIP.On this edition of Five Minute Friday, Bob shares North County Property Group’s expertise in TIP, explaining how to keep tenants and buyers informed throughout the process and document the tenant’s right to possession via the Tenant Estoppel Certificate.Bob discusses the mistakes uninformed listing agents can make in handling TIP transactions and describes North County’s advantage in having an ongoing relationship with the tenants involved. Listen in for insight around North County Property Group’s considerable experience leading the successful TIP sale of a property.Topics Covered[0:40] The concept of selling a property with Tenants in Possession (TIP)[1:10] North County Property Group’s expertise in selling homes with TIP + the specific steps required by the California Department of Real Estate [1:37] The mistakes

How do property owners know they’re hiring a qualified property management company that operates within a clear set of standards? The best way is to look for members of the National Association of Residential Property Managers, or NARPM.Eric Wetherington served as the 2019 National President of NARPM. Today, he joins Bob to discuss the educational opportunities available to members of the organization, explaining who establishes its curriculum and what national, state and local events are open to members.Listen in for Eric’s insight around the legislative influence NARPM has developed and learn how YOU can benefit from the Code of Ethics and spirit of sharing unique to the NARPM community!Topics Covered[2:52] Eric’s background in property management and introduction to NARPM[4:11] Eric’s experience serving as President of NARPM in 2019 + his role in the organization in 2020[7:05] Why it’s important for property owners to hire NARPM members as property managers[9:16] The educational opportunities available to

Most business owners and entrepreneurs want to build a best-in-class company. But in the daily grind of running a business, it’s easy to lose sight of the vision you’re trying to achieve. At North County Property Group, we leverage the Entrepreneurial Operating System (EOS) to facilitate continuous improvement and become a better organization—each and every day.On this edition of Five Minute Friday, Bob shares the EOS model many business owners and entrepreneurs use to grow and improve. He explains how adopting the process has helped his team focus on the right things and keep them accountable to their goals. Bob walks us through each of the six key components of the EOS model, describing how his team evaluates themselves in the areas of vision, people, data, issues, process and traction. Listen in for insight around the value of quarterly goal setting and learn how the EOS system is helping Bob lead a top-performing company. Topics Covered[0:49] The EOS model for business owners and entrepreneurs[1:12] How a