PROPERTY MANAGEMENT BLOG

reserve? it’s like a rainy day account.

When doing an analysis on a property, one of the things you should account for is a reserve fund. Our clients allow us to hold a reserve in their account for them. Actually we require it. It’s a relatively small amount but it’s enough to cover most any expense that comes up after we distribute their funds to them every month. But...

it’s just a few coins

We have this little office pool going where you guess when the postage meter has to be refilled. Who ever guesses the correct date, wins. When we first started this, you just won bragging rights and you just had to get the closest to the date. We changed it to you have to pick the exact date and you would win money. If nobody guessed corr...

they had the money

This past weekend, I was scheduled to show a foreclosed property that one of my clients was looking to buy. I arrived about 15 minutes early and was walking through the property when someone knocked at the door. It was a neighbor who was a little curious about what was going on with the house because it had been vacant for so long. He gav...

pawn star’s mentality

One of my favorite TV shows is Pawn Stars. If you don’t know it, it’s a reality show of a pawn shop in Las Vegas. It shows people coming in trying to pawn or sell items that they either bought from somewhere obscure or was left to them by a late relative. On occasion, someone will bring an item that they have no idea of its value. The...

why is it still vacant?

We face this a lot. We market every property the same way, but some rent right away while others stay on the market for a long time. When a property stays vacant for a while, I get owners calling me asking me why we don’t have their property rented as if we’re not doing our job. I let them know that we’ve been showing their property...

security deposits

One of the things a lot of landlords fail to realize or refuse to accept is that the security deposit belongs to the tenant. The landlord may be holding it, but it still belongs to the tenant. As a professional property manager and regulated by the state of Missouri, I’m required to hold the security deposit in a separate bank account. ...

yes it’s called fair housing

The other night I was at a social event. I ran into someone that I’ve met before but don’t know well. He informed me that he was one of my competitors. I knew that he didn’t hold a real estate license so I asked him how so? He let me know that he owned rental property and he self managed. Well that’s not really a competitor, but I...

below market rent

I recently read an article about how to keep tenant turnover low. One of the suggestions was to not raise a tenants rent. The author commented that tenants do not understand that taxes go up or insurance goes up therefore won’t understand why rents go up. I for one am in complete disagreement with this concept. Everyone in this busi...

you say you don’t want to be a landlord?

I just completed another weekend hosting a booth at the home and garden show. Having a booth at the home show is another way of marketing our business, to get our name out there and let people know what we do. Home shows typically are places for companies such as builders, landscapers, cabinet makers and anyone who has anything to do with...

cats and dogs

One of the questions I ask a client when we acquire a new property to manage is if they want to allow pets. Some are firmly against pets, while others are very open to them. Then there are those that are just not sure and want my opinion. When it comes to making a decision about their properties, I don’t like to give my opinion, so I ju...

Showing 1- 10 of 13

  • Click for the BBB Business Review of this Property Management in Cape Girardeau MO