We sometimes take over management of homes that have been treated in, diplomatically-speaking, less than desired regard. It's frustrating for the owners (and the property management company), especially in difficult economic times when cash is scarce. The purpose of this article is not t
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10/23/2010
I don't find myself being amazed at things very often, but I have to admit I was taken aback when I saw a large property management firm change their application fee from $25 to $200. My initial thoughts were, "who is willing to pay that?" and "how can I justify charging that much for a ren
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10/14/2010
Unfortunately, I'm yawning as I'm writing the title of this article. I'm not sure how to jazz it up a little (maybe "Lindsey Lohan falls for property manager during rental walk-through! Then she heads back to rehab." I'm intrigued at least. That would be a nice segment into this! Instead,
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10/08/2010
At this point, most people are aware of the rental scam where a prospective tenant answers your ad and: Loves your house and wants to move in soon Asks you if you will accept a year in rent upfront (duh- yeah!) by certified check (double yeah!!) Then they send you several thousand dollars mor
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10/02/2010
There has been a lot of discussion surrounding proposed (and current) changes to tighten FHA loan guidelines. Heated discussions. Unhappy folks. Panic. Real estate agents are unhappy. Buyers are unhappy. NAR is not happy. And if mommy isn't happy, nobody is happy. Why is this? Well,
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09/25/2010
The definition of insanity is to do the same things over and over again and expect a different result. Is this what is happening with all the vacant homes still being listed for sale (that shouldn't be)? I'm not talking about occupied houses where the occupants would like to move, but don't
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09/18/2010
Another popular question I hear from prospective clients is: PC: "What's the difference between rent-to-own and rent-to-sell?" Us: "There is none!" PC: "Well, if that's the case, why don't you eliminate the whole "rent-to-sell" terminology? I've heard of rent-to-own, but this rent-to
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09/13/2010
Potential clients of ours ask, "Why do you charge a "Realtor Fee" of 5% or 6% when a rent-to-own tenant buys our home (rent-to-sell)? Some of your competitors provide the tenant, keep the upfront option fee, and then let us manage the property. We then only pay the attorney fees when the tena
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09/06/2010
The "Golden Rule" was an excellent idea as soon as Jesus said it; our lives would be so much better if we followed it all the time. But it's not such a smart philosophy to follow it with rental homes. Let me explain. There are many well-intentioned investors who believe that the "Golden Ru
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08/27/2010
This seems to be a FAQ these days. As a property manager in Charlotte, we get many calls from people asking themselves this question. I didn't think there was a one-size-fits-all answer to this, but I was corrected. It just seems to come down to who you ask. If you ask a: 1. Realtor: "
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08/21/2010
