Mon, January 04
by Jeff Smith 01.04.10
in Articles and Management.
By Jeff Smith, Real Estate Investor and Lifestyles Houston Mentor
An Excerpt from the SF Real Estate Investor’s Policies and Procedures Manual
This article is not meant to just be a “How to …” guide on the way to lease a single family home.
Instead, what I wish to accomplish here is to make the point that your business is comprised of a series of processes and that by acting consistently over time you will achieve a predictable result.
Additionally I would like to illustrate by documenting your procedures you have a greater likelihood of following them with consistency so that you will get the outcome you desire, and that developing those procedures doesn’t have to be a painful or complicated event.
Mon, July 27
by Jeff Smith 07.27.09
in Articles and Management.
Written by Jeff Smith, Real Estate Investor and Mentor in Houston, TX
Property Management Priorities
Why is it that some landlords will tell you horror stories about their investing endeavors while others spend months at a time on tropical vacations?
Dr. Stephen Covey wrote that an important habit of effective people is to “Begin with the End in Mind.” Countless examples can be had to illustrate just how essential this concept is (Get the LUI Goal Setting Workshop Here); and you will find a few common characteristics in nearly all of them. They are that the goals are clear, concise, and simple and are very limited in number. These same characteristics should also apply to your goals in property management. Everything that you do as a landlord should address your top priorities which are:
- Preserve the Asset
- Minimize Vacancy
- Eliminate “Landlord Headaches”
By designing your property management procedures with clarity, brevity, and simplicity you can achieve your “end in mind” of a profitable investment management strategy that provides residual passive rental income streams.
Mon, July 20
by Kelli Guyton 07.20.09
in Articles and Management.
Written by Kelli Guyton
In my eighteen years of property management – I have surmised one thing:
Real estate really boils down to being a people business.
I always advise new property owners that their new business is the business of providing homes to the community. If you don’t think that’s a personal proposition – then you’ve got another thing coming.
When a Prospective Renter Calls
The first thing you have to realize is that when a prospective renter calls you on the phone – the objective of the call is to eliminate your property from their search! The goal is to essentially save themselves a trip or to “cross you off of their list” of places to visit.
Landlords make this very easy for prospective renters when they don’t answer their phone. Or worse, they answer the phone and have either a bad attitude, or an indifferent attitude. Folks – these people (renters) are trying to give someone their rent money….will you be the lessor who cashes the check?
