Thursday, December 12, 2013

No Quick Fix

Practically speaking, illegal, unauthorized tenants are very difficult to remove from your rental property. Your best bet is to convince the legal tenant to get them out. Sorry I can't give you a quick fix for this residential property management problem.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 and manages 150 single-family units in metro Denver. Mr. Meer is also a speaker and consultant. He holds the Master Property Management (MPM) designation awarded by NARPM. His firm holds the Certified Residential Management Company (CRMC) designation also awarded by NARPM.

Thursday, December 5, 2013

Going to Court

Even if the tenant admits to the extra people, the judge might order that the unauthorized residents vacate the property. If the tenant agrees to do that, the case may well be dismissed. Should your authorized tenant fail to get the other folks out of the rental property, it's back to court again. The court may terminate the lease agreement and order the tenant out of the property. Generally, however, judges don't like to terminate leases.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com


Tuesday, December 3, 2013

Lease Violation

If you are getting no cooperation from your tenant about any other occupants, you can serve a notice to vacate for a lease violation. This action will take you into a courtroom, the last place anyone wants to be. You will have to convince the judge that there is, in fact, a lease violation occurring.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com

Thursday, November 7, 2013

Evasive Tenants

If your tenant is evasive about any other occupants, then you have a different situation. My lease provides for a viewing of the property, during reasonable hours. If you visit the property and find additional beds, clothing, etc., beyond what would be expected for the number of tenants that are suppose to be there, then you move to stage two.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com

Thursday, October 31, 2013

Notification

When it comes to eviction a vacant unit never makes the owner happy. Call the tenant and ask about there being unauthorized individuals living there.
It may well be a relative visiting. I prohibit more than a two-week stay without notification.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com

Thursday, October 10, 2013

Vacancy

What do you do if there are illegal tenants in your rental property? You often learn of these illegal tenants from neighbors or your service people. Should you receive this information, DO NOT automatically call the tenant and threaten legal action. Remember your only real weapon is eviction, which may end up creating a several month vacancy.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com

Thursday, October 3, 2013

I Only Rented to One Person, But Four Are There Now!

It is imperative that occupants of your residential property are those that are authorized. In today's difficult economic times, unscreened, unauthorized and down on their luck individuals may well find shelter in your rental property. More often than not, the current authorized tenant is just helping them out for a brief period of time. That brief period can be for months. So here is the problem, illegal tenants in your rental property. What to do?

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, September 19, 2013

A Fairy Tale

As a Residential Property Manager, decide on the front end, if it is worthwhile to take on an ugly duckling. The ugly duckling and the swan, is after all, a fairy tale. Consider my story the next time you are asked to manage a poor quality property.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.


Thursday, September 12, 2013

Client Commitment

This year one of the tenants moved. Reminding my client of his earlier commitment only fell on deaf ears. Again, there was no money to properly improve the vacated unit. At that point I terminated the property management agreement.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, August 29, 2013

Poor Quality Units

That was the critical point in time that I missed the boat. With the owner's promise to do more in the future, I agreed to the new paint, carpet and vinyl as our only improvements. Sure enough, the units were rented (still below market) to very marginal tenants. For much of the past two years we have had to post eviction notices for both tenants. Poor quality units attract poor quality tenants.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, August 27, 2013

Upgrades Cost Money

In year two of this ugly duckling property management, both units go vacant. Now, I thought, is the time to upgrade, which included the following: new kitchens and bathrooms ($25,000), new electrical ($4,000), new paint/carpet/vinyl ($10,000), new appliances ($3,000), new roofs ($5,000), new yards/sprinkler systems ($10,000) and miscellaneous ($3,000) for a grand total of $60,000. After my client recovered from shock, we discussed what he really could afford to do. He had $10,000 allocated to upgrade the duplex and not a dime more.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Friday, August 16, 2013

The Ugly Duckling

Now to the ugly duckling property. A few years ago, I took on a duplex in a more difficult part of town. Steel sash windows, 1950's kitchens and bathrooms, ten year old carpet, poor yards and no garages. The owner assured me of his willingness to make them into swans. Both units were occupied, having a rent commensurate with the low quality of the units. There was no practical way to upgrade the units while they were occupied.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, July 18, 2013

The Swan

The swan is a single family home located in a great part of town. The house has a modern kitchen and bathrooms, is in excellent condition and shows well to a perspective renter. This property will rent in a reasonable time for a reasonable price. As a Residential Property Manager (RPM) this is the perfect new property to take on.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, July 9, 2013

The Ugly Duckling--Can I Make It a Swan?

When taking on a new residential rental property management account, you must ask: Is it the ugly duckling or is it the swan? What is the difference and what to do about it is the subject of this series.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Monday, July 1, 2013

Finally, Document Condition!

Generally, judges are more inclined to accept the landlord's position if it is written. The absence of written or photographic evidence makes it a case of the landlord's word versus the tenant's word. In that case judges will tend to rule in the tenants favor. In conclusion, always document the condition of the property going in and coming out!

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, June 20, 2013

Why Do All This?

Digital equipment to photograph the unit as you go through this process is also an excellent idea. A picture may be worth a thousand words!

One has to ask the question - why do all this?? Colorado law provides for treble damages for the tenant if a landlord/manager wrongfully withholds security deposit funds.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.














Wednesday, June 5, 2013

Pay Attention To Detail

When you are doing the property condition report prior to new tenant move in it is important to pay attention to details. Besides the condition of the walls and floor covering; list doors, windows, window coverings, screens, electrical fixtures and sockets. In the kitchen you must add refrigerator, stove, garbage disposal, dishwasher, cabinets and counters. Special notice should be made of any broken parts in the refrigerator or stove (i.e., oven racks, crisper and butter doors). These items are difficult and expensive to replace. In a three bedroom house, this process can take an hour. The yellow copy of the report is given to the tenants. Even with careful attention to details, it is still possible to overlook things. I allow tenants up to two weeks after move in to add to the list.


Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550 which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, May 21, 2013

Write Actual Condition

When doing the property condition report prior to new tenant move in it is critical to clearly write the actual condition. You may use categories such as "excellent, good, fair or poor." In the case of new paint or carpet you should indicate that it is new. On the other hand, if the paint or carpet is poor, write that on the report.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com

Tuesday, May 7, 2013

Property Condition Report

This report is a critical element in the rental process. The report itself may be hand written or digitally photographed. The written has a check list for each room in the unit. At the top of each page (mine is two pages on NCR paper) it indicates check-in and check-out condition as well as a section for comments.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, April 18, 2013

Property Condition & New Tenant Move-In

You have successfully located, screened and signed a lease with your new residential tenant. They understand everything because you explained all the rules involved in renting the single family unit that you manage.

Now what? Too often the property manager fails to complete a critical tenant check-in procedure. This series will discuss the Property Condition Report.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, April 11, 2013

Protect The Owner's Assets

The last stage of the maintenance survey is installing repairs to the property. Your survey will have identified those items needing services by getting those repair orders in and the asset is protected, which is certainly a major part of your property management responsibilities. In summary, perform maintenance surveys to help insure tenant safety, protect the owner's assets and provide the full service of a quality management firm.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, April 4, 2013

Report Your Findings

The next stage in the maintenance survey is reporting your findings to the property owner. It should be a detailed, written description of what is happening to the unit. Many firms are now including digital pictures as well as a narrative report. Since owners of rental properties frequently live out of town, your report and pictures are the only source of information about their investment.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, March 12, 2013

Cover The Hard Costs

One question is how often should a maintenance survey be done? Keep in mind that a single three-bedroom home could be a three-hour project, including the drive time, the actual survey, report preparation and ordering repairs. Such surveys should be done at least once per year. Some firms may include this service in their general fees, while others might impose a modest additional charge. It would be inappropriate to discuss how much to charge, but it would seem fair that whatever the fee is, it should cover the hard costs. Typically, these surveys are performed during the winter months when things are much slower.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, March 5, 2013

Safety Inside

On the interior, we also need to be checking for safety issues. Those would include checking that (1) all windows and doors lock, (2) there are functioning smoke detectors, fire extinguishers, carbon monoxide detectors and (3) the hot water temperature is no greater than 125 degrees.
 
Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, February 26, 2013

Beginning Interior Maintenance Survey

The interior of the unit requires even more attention to detail. Look for (1)tile work grouting in the bathroom and kitchen that is wearing thin, (2) electrical problems such as faulty switches, loose fixtures, overloaded circuits, (3) doors and windows that are not properly closing, (4) carpet and vinyl that are wearing badly, (5) appliances that become dirty to the point of not functioning, (6) stairwells and railings that are becoming unstable and (7) faucets and drains that are leaking. The list goes on, but this gives you the general idea.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Tuesday, February 19, 2013

Safety Issues

Continuing on the exterior maintenance survey, you need to check the trees, shrubs, grass, fences, walkways and driveways. When looking at these items, besides the obvious, look for safety issues. Are the shrubs overgrown, thus allowing a would be assailant a great hiding place? Is the sidewalk cracked and broken, thereby increasing the chance of someone falling? Are the gutters properly draining, thus keeping water away from the foundation? Does the exterior lighting provide additional safety for tenants and guests alike?

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit Meer and Company website at www.meerandco.com.

Thursday, January 31, 2013

Exterior Painting

As you continue your exterior maintenance survey a general rule of maintenance is that it costs less to prevent damage than it does to wait and repair it later. Exterior painting is one of the best examples. If it is done while the wood surface is still sound, your cost might be quite reasonable. On the other hand, if the paint is peeling and the fascia is rotting, then your cost will increase dramatically.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

Tuesday, January 8, 2013

Interior and Exterior Analysis

A maintenance survey includes both an exterior and interior analysis of the residential property. What kinds of exterior items does a survey cover? First is the physical condition of the unit. Are there any obvious structural or roof problems? Is there a water or drainage problem? What is the condition of the siding, windows, outdoor lighting, concrete, yard, shrubs, etc.? If the condition is poor, what needs to be done and how soon?

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.

Thursday, January 3, 2013

Maintenance Survey Program

As a manager of residential property, it is imperative that you periodically check the unit. This can be accomplished by implementing a maintenance survey program. Notice I wrote "maintenance survey" rather than "maintenance inspection." There is a critical difference between the two. An inspection implies that the individual has certain formal qualifications, such as being a licensed homeowner inspector. Thus, a higher standard might be applied to the work performed by this person. A maintenance survey does not have this higher standard and thus is easily performed by a property manager.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.