Tuesday, July 21, 2015

Buying A Residential Property Management Company

     Residential property management is the overseeing of single-family homes, townhouses, condominiums and small, multiple units such as duplexes and triplexes.
     Most residential property managers slowly develop and grow their business over a period of years, utilizing a variety of marketing approaches. Remember, you must be a licensed real estate broker to undertake this discipline.

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 18, 2015

Movin' Out or How Come the Tenants Left it in Such a Mess?

Most landlords spend a great deal of time on the front end of leasing the residential unit. Little time is spent explaining what is expected of the tenant at the end of the lease term when they are moving. By spending some time at the beginning of the lease, you may well have a better result at the end of the lease. We'll discuss this information over the course of the next few blogs.

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, June 12, 2015

No Choice

Roofs, sewer lines and electrical updates may not be an immediate health risk. Owners are sometimes reluctant to spend the larger amount of dollars needed to resolve these problems. However, there really is no choice if you want to properly fulfill your obligation as a property manager. If you have trained your clients to maintain their rental unit, they will send the necessary dollars to resolve these important physical plant items.

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 3, 2015

Major Repairs

In maintaining the physical structure major repairs include such items as: furnaces, roofs, sewer lines, electrical updates, etc. Having the furnaces serviced by a licensed contractor every other year is critical to tenant safety. If carbon monoxide is found, it may be imperative that the tenants vacate the property until the furnace is completely safe. This may mean the installation of a new furnace. Usually, the occupants are thankful that you have found the problem and are moving immediately to resolve it. Tenants find places to stay with family or friends while the new furnace is installed. Generally, we give them a credit on the following months rent for the number of days they could not safely be in the house.

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, May 28, 2015

Necessary Service Call

If, in fact, a service call is necessary, take all the relevant information. Have the tenant tell you as much as possible about the problem: when did it start, is it ongoing, is it causing damage to the property? Prepare a work order, which can be directly emailed to your vendor. The work order gives the tenant name and address, phone numbers and the nature of the problem. A weekly report from your vendors will keep you alert to the status of any open repair orders.

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 5, 2015

Handling Repair Orders

It is a given that repairs will be necessary, sooner or later, on every property. How you handle these repair orders may determine if the tenant decides to renew the lease. In my office, tenants may submit repair requests in writing or by phone. I prefer talking directly with the tenant. Some "problems" can be resolved with a brief conversation. These might include such things as: (1) pushing the reset button on the garbage disposal, (2) resetting the electrical breaker or (3) discussing how the timed oven features work. Service calls run $50 to $85 and the owner will not want to pay to educate the tenant. Save yourself unnecessary grief, see if the problem is simple tenant error.

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, April 15, 2015

Maintaining the Physical Structure

Keep in mind that the managing agent for the rental property has the obligation to maintain the physical structure. That is not to say that he/she must pay for the repairs to the property. It is the responsibility of being the eyes and ears of the owner and reporting any serious maintenance/repair issues. The balance of these next blogs will discuss handling  (1) routine service work (2) major repairs and (3) emergency repairs.

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, April 7, 2015

Improving Control Over Properties

As previously discussed, every four weeks yards should be checked. Watering and mowing are obvious items to look for. What about shrubs, trees, derelict vehicles, peeling paint or oil stains on the driveway? Taking a picture on each visit helps in a number of ways. First, you can send it to the owner, thus letting him/her know of your continuing observation of the property. Second, you can verify that your checker has actually gone to the property.

Have these procedures eliminated all of the problems? No. They have, however, improved control over the properties, thus improving protection for the property manager and his/her clients.

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 17, 2015

Yard Checks

As we have discussed property management does mean property control and yard checks are very important in the management of residential property. During the summer months, the condition of the yards become a major consideration. All tenants will tell you of their love for gardening. Unfortunately, that does not always prove to be the case. Every four weeks the yards should be checked.

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 10, 2015

Notify Your Client

If the tenant fails to correct the problems of the specific lease violations, your options may be limited. In Colorado, it is difficult to convince a judge to terminate a lease for reasons other than nonpayment of rent. However, even if you cannot get the tenant out, you can notify your client of the problems. While this will not make for a happy owner, at least the owner knows you have been watching over his/her unit.

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 3, 2015

Specific Lease Violations

Upon discovery of these problems, one of a number of actions can be taken. First, advise the tenant, in writing, of the specific lease violations. Let the tenant know another survey will be conducted within three weeks and that the problems must be resolved by then. Second, if you suspect drug activity, contact your local law enforcement agency for suggested action. This may also help defend you from seizure action against the property. Third, redo your survey in three weeks to insure compliance with your letter.

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 24, 2015

Most Commonly Found Problems

We also have all furnaces serviced in the Fall by a licensed heating contractor. You cannot be certain that the tenant will change batteries in the CO Detectors, change filters or oil the fan motor.

The problems most commonly found during maintenance checks are: (1) carpet stains, (2) writing on walls, (3) filthy kitchens, (4) illegal pets, (5)illegal residents, (6) illegal business operations, (7) major car repairing and (8) drug activity. If no survey is done, you may discover any of the above only at the end of the lease and only after the damage has been done.

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, February 9, 2015

Continuing Our Discussion

In the last few blogs we discussed two of the recommended maintenance procedures Make Ready and the first part of Maintenance Surveys. We will now continue our discussion on the importance of Maintenance and Yard Surveys.

Basically, your check list, both internal and external, is the same one you normally use to prepare the property for rental. You are trying to find small problems and have them repaired before they become big problems.

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 3, 2015

When and How?

Having explained the need for this Maintenance/Condition Survey, when and how is it done? The maintenance aspect can be done at tenant turnover time. However, that frequently happens at an extremely busy time of year. Why not do it when things are slower? In Colorado, that is during the winter months. Additionally, maintenance people tend to be less busy and are happy to make more minor repairs. We will continue on the importance of Maintenance and Yard Checks in the next blog.

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, January 13, 2015

Legal Liability

The way a tenant lives in the property may also be a serious problem. No tenant ever tells you they intend to abuse the property. Experience has proven that a certain number, although small, will violate important terms of the lease. One example we found was an illegal child care center (eight children per day under the age of six) at one of the properties. The lease prohibited such activity. To make matters worse, the tenant was not licensed and carried no insurance as required by Colorado law. The legal liability to our firm and the client was a frightening thought.

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, January 6, 2015

Potential Problem

Tenants will generally call for repairs when something is so broken it causes a direct, annoying problem. However, if the repair does not rise to that level, you may only hear about it after it has become a major problem. The best example is grouting around ceramic tile in the bathtub. A $60 minor repair job could prevent extensive damage and possible replacement of the drywall behind the tile, thus saving major dollars. The Maintenance Survey will spot this type of potential problem.

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, January 2, 2015

Why Planned Surveys?

Why have planned maintenance/condition survey programs? The reasons fall into two categories. The first, preventative or proactive maintenance  may save your clients significant dollars as well as protecting the safety and health of the tenants. The second, ascertaining the tenant living conditions in the unit, may prevent illegal activity or high make-ready costs for a new occupant.

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