The Completelandlord.com Ultimate Property Management Handbook

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  • Edition: 1st
  • Format: Paperback
  • Copyright: 2009-03-09
  • Publisher: Wiley
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This book covers the entire cycle of becoming a successful real estate property manager. Written in an accessible format , this book provides valuable information for investors who are now landlords and property managers. This book is not about the day-to-day of landlording, rather it focuses on the strategies for managing the assets of your property. Readers will find information on: ? The benefits of managing property ? Assembling your core team (attorneys, accountants and insurers) ? Legal documents ? And office help (including the right systems and software, how and when to maintain and repair, and the finances of managing your properties)

Author Biography

William A. Lederer is Founder and Publisher of CompleteLandlord.com, the leading Web site written for and by landlords. This proven, one-stop portal offers comprehensive content, commerce, an online landlord community, and on-demand solutions that include customizable forms and letters, as well as tools for tenant screening, vacancy marketing and tenant communications, electronic rent collection, and Web-based property management. Experts in virtually every aspect of landlording, Lederer and his wife have been investors and landlords for many years.

Table of Contents

Acknowledgmentsp. xiii
List of Iconsp. xiv
Introductionp. xv
About the Productp. xvi
Introduction to Property Managementp. 1
The Benefits of Managing Propertiesp. 3
Taking the Plungep. 4
Do It Yourself or Hire Someone?p. 6
You Can Do It Yourselfp. 9
Before You Gop. 9
The Skills, Aptitude, and Attitudes of Successful Property Managersp. 10
From the Beginningp. 10
What Does It Take?p. 13
For the Non-Do-It-Yourself Typesp. 15
Build a Winning Strategy, Plan, and Teamp. 17
Taking Stockp. 18
Building a Teamp. 21
Operationsp. 25
Beyond Record Keeping: The Importance of Systemsp. 27
Why You Need a Systemp. 28
Don't Overlook Thesep. 30
Start Nowp. 31
Property Maintenance, Repairs, and Constructionp. 32
General Maintenancep. 32
Who Handles What?p. 34
Preventing Problemsp. 34
Open Lines of Communicationp. 35
Procurementp. 37
Green Property Managementp. 39
Achieving Scale: Hiring, Training, Retaining, and Compensating Property Management Personnelp. 41
Help Wantedp. 42
Basic Trainingp. 43
From the Top Downp. 46
Outsourcing Property Managementp. 49
First Things Firstp. 50
Where to Look for a Management Companyp. 51
Signing a Contractp. 53
Weighing It Outp. 54
Tenantsp. 57
Marketing Vacancies/Setting Rents and Termsp. 59
Word of Mouthp. 60
Classified Adsp. 61
Signs on Propertyp. 62
Flyers and Handoutsp. 64
Notices on Bulletin Boardsp. 64
Rental Listing Bookletsp. 65
List with a Rental Agentp. 65
Target Good Tenantsp. 66
Show the Propertyp. 67
Man the Phonesp. 67
At Your Fingertipsp. 68
Full-Time Worker, Part-Time Landlordp. 69
Schedule the Showingsp. 70
Setting Rents and Structuring Leasesp. 75
High Rent versus Low Rentp. 75
Calculating How Much Rent to Chargep. 75
Increasing the Value of Your Rentalp. 77
When, Why, and How to Lower Rentp. 78
Structuring Leasesp. 78
Signing the Leasep. 83
Screening Tenants: The War Is Won before It Is Ever Foughtp. 85
The Long and Short of Itp. 85
Performing the Checksp. 89
What to Do with the Datap. 95
Who Pays for the Background Checkp. 95
Acting as a Referencep. 96
Making the Selectionp. 96
When You Inherit Tenantsp. 103
The Mechanics of Rent Billing, Collection, and Reportingp. 106
Security Depositsp. 107
Rent Receiptsp. 109
Setting and Enforcing Due Datesp. 110
When, Why, and How to Increase Rentp. 111
When, Why, and How to Lower Rentp. 114
Tenant Relations, Communications, and Problemsp. 116
Definition of a Good Tenantp. 116
Definition of a Difficult Tenantp. 118
Handling Evictionsp. 120
How to Legally Evict Someonep. 122
When Eviction Is Necessaryp. 124
The Eviction Processp. 126
Getting Down to Businessp. 129
Entity Formation and Asset Protectionp. 131
Step by Stepp. 131
Taking Responsibilityp. 134
Understanding Landlord-Tenant Law including Discriminationp. 136
Knowing Your Rightsp. 136
The Law and Advertisingp. 138
Rental Property Financep. 140
Maintaining Recordsp. 140
Taxing Mattersp. 141
Insurancep. 145
Property and Casualty Insurancep. 145
General Liability Insurancep. 146
Flood or Water Damage Insurancep. 146
Umbrella Liability Insurancep. 146
Best Investmentp. 147
Special Topicsp. 149
Specialized Housing Marketsp. 151
Joining the Frayp. 151
Workforce Housingp. 152
Disabled Accessp. 153
Student Unitsp. 155
Expanding Your Horizonsp. 157
Affordable Housing, Section 8, and Discriminationp. 158
Don't Discriminatep. 160
Fair Housing Actp. 161
Play by the Rulesp. 162
Continuing Your Property Management Educationp. 163
Ongoing Resourcesp. 163
The Endp. 164
Appendixesp. 165
Summary of Icon Informationp. 167
Tour of the CompleteLandlord Site with Free Trial Membership Offerp. 169
Essential CompleteLandlord Worksheets, Checklists, and Other Formsp. 189
Associations and Other Resourcesp. 210
Glossary of Real Estate Termsp. 213
Indexp. 247
CLL Catalogp. 258
Table of Contents provided by Ingram. All Rights Reserved.

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