Property Management Brainstorm: Recent Episodes

Bob Preston

Property Management Brainstorm provides tips and advice to property managers, homeowners, and property investors about renting and managing their residential investment properties, tenants, and vendors. This podcast series is conducted in an interview discussion format by Bob Preston – president, owner and real estate broker of North County Property Group, a top ranked San Diego property management company. Bob interviews top professionals and experts in their respective fields related to the real estate and property management industry with the goal of providing insight and best practices to maximize your property value and income while maintaining top notch tenant relations.

Host Bob Preston engages in a dynamic discussion with Barak Shamir of Showdigs, shedding light on the challenges property managers face during the leasing season. This conversation not only helps property managers prepare for the busy season but also offers a solution by showcasing how Showdigs can empower them to optimize their operations. Barak elaborates on the various aspects of leasing efficiency and how Showdigs can be a game-changer in streamlining their leasing process.

Takeaways

The leasing season brings increased turnovers, inspections, and showings.
Inefficiencies in processes can lead to staff burnout and lost business.
Showdigs can help property managers streamline operations.
Consistency in inspections and reports is critical.
Squatters pose a significant challenge for property managers.
Preventing rental fraud is essential.
Showdigs offers a pay-as-you-go pricing model without tiers
Visit Showdigs at booth 605 at the NARPM Broker/Owner Conference in Amelia Island, Florida, April 16-18, 2024.

Chapters01:35 Introduction of Barak Shamir and Discussion on the Leasing Season
04:30 Problems Faced by Property Managers During the Busy Season
14:25 Introduction to Showdigs and its Solutions
19:15 Showdigs Midroll Commercial
25:00 Consistency in Inspections and Reports
26:40 Dealing with Squatters
30:45 Preventing Rental Fraud
33:40 Summary of Showdigs Features
35:38 Pricing and Getting Started with Showdigs

Featured Sponsor: ShowdigsTired of wasting hours stuck in traffic running between your properties? Showdigs can save you time and money without compromising your conversion rates. Learn more about the only all-in-one leasing software that can handle all of your fieldwork. Go to https://www.showdigs.com/pmb, fill out the form, and when you sign up for Showdigs, you’ll get to activate your first five properties for free.

Connect with Showdigs: https://www.showdigs.com/pmb

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

In this episode, renowned property management expert Tiffany Rosenbaum and seasoned host Bob Preston delve into property management failures and entrepreneurs' struggles. Drawing from their extensive experience, they underscore the importance of learning from failures and mistakes encountered in the journey of growing businesses.

Takeaways

Failures are part of the entrepreneurial journey.
Self-doubt is common among entrepreneurs.
Effective processes are crucial for success.
Micromanagement can hinder the growth.
Anticipating customer needs can set a business apart.
Continuous learning and embracing struggles are essential.

Chapters02:00 Introduction and Background
04:02 Importance of Discussing Property Management Failures
04:50 Struggles and Self-Doubt in Entrepreneurship
14:07 LeadSimple Midroll Commercial
17:20 Common Failures in Property Management
20:50 Implementing Procedures and Processes
28:30 Embracing Struggles and Continuous Learning

Connect Tiffany Rosenbaum:
https://www.linkedin.com/in/tiffany-rosenbaum-b8a75011b/ Featured Sponsor: LeadSimpleLeadSimple consolidates leads, process, and communication management – plus coaching, content, and best practices – into one easy-to-use platform for property managers and real estate professionals. We’ve simplified the complexities of
property management so our clients can now work on their business instead of on their business to achieve even more than they thought possible. https://www.leadsimple.com/

Our Industry Icon Sponsors supporting the show:
SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)
LeadSimple (https://www.leadsimple.com/)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

In this episode, host Bob Preston and guest Dylan McGrath discuss how to prepare a property management company for acquisition, what is involved in the process, and various valuation models. If you have ever wondered what it would be like to sell your business and what steps would be involved, this episode is a must-listen!

Takeaways:

Costs to engage a business broker
Models for valuing a property management business
Structuring of a property management business sale
Due diligence and information exchanged

Chapters:
00:00 Introduction and Dylan’s background
04:54 Getting started in selling a property management company?
08:42 Fees paid to a business broker
12:14 Due diligence process and information exchanged
16:23 Valuation models for property management companies
21:11 Structuring the purchase arrangement: asset sale vs. stock sale
25:58 The current state of company valuations
32:05 Steps involved in closing the sale
46:49 Clawback provisions in an agreement
49:20 Closing comments and how to connect with Dylan

Connect Dylan McGrath: https://www.linkedin.com/in/dylanmcgrath

Episode 82 Featured Sponsor: RentScaleRentScale is the largest sales consulting and coaching company in the residential property management industry. Over 400 residential property management companies in North America have trusted RentScale to craft their custom sales playbook, install a repeatable selling system, and train their team to attract new property owners at profitable rates. (https://rentscale.com/)

Our Industry Icon Sponsors supporting the show:
SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)
LeadSimple (https://https://www.leadsimple.com/)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

On this episode, host Bob Preston and guest Jeremy Pound discuss various aspects of business development and new client acquisition in the property management industry. The conversation also delves into the building blocks for creating a successful business development program and the characteristics of a good business development manager.

Takeaways:

Understanding the local market and competition
Finding the right business development manager
Motivating business development managers
CRM Software
Significant opportunities for growth

Chapters:
00:00 Introduction and Background
05:20 Challenges in Acquiring New Doors
10:20 Understanding the Local Market and Competition
13:45 Building Blocks for Business Development
18:00 Reluctance to Delegate Business Development
30:00 Motivating and Compensating Business Development Managers
37:20 Importance of Customer Relationship Management Software
52:40 Closing Thoughts

Connect with Jeremy Pound: https://rentscale.com/

Episode 81 Featured Sponsor: zInspector
zInspector is the most powerful and affordable property inspection solution in the market. A great in-app camera experience, fully customizable templates, tenant-led inspections, 360-camera integration & virtual tours, and two-way PM software integrations make it the most collaborative field-to-office property inspection solution available. Embrace the future of property inspections with zInspector. (https://www.zinspector.com/)

Our Industry Icon Sponsors supporting the show:

SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)
Latchel (https://www.latchel.com)
LeadSimple (https://https://www.leadsimple.com/)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

In this episode, Bob Preston shares his top five ways to kickoff 2024 for property management businesses. He emphasizes the importance of strategic planning, organizational checkups, accountability and goals, kickoff meetings, and budget trimming. These steps are crucial for setting the direction, aligning the team, and optimizing resources for a successful year ahead.

Takeaways

Create a strategic plan with a forecast and budget for the new year.
Conduct an organizational checkup to assess the company's culture and alignment.
Establish accountability and goals for every team member.
Host a kickoff meeting to communicate expectations and review past performance.
Trim 15% of the budget to optimize resources and achieve new profitability goals.

Chapters00:00 Introduction and Overview of Bob's Five Ways to Kickoff 2024
03:08 Chapter 1: Forecast and Strategic Planning for the New Year
06:02 Chapter 2: Organizational Checkup
07:30 Chapter 3: Accountability and Goals
09:38 Chapter 4: Kickoff Meeting
10:35 Chapter 5: Budget Trim Challenge
13:01 Summary of the "Five Ways" and conclusion

Episode 80 Featured Sponsor: Second Nature
At Second Nature, we heart property managers. Because we know you’ve got the toughest job around. So we create new solutions and technology to make your life easier, while keeping residents and investors happy. It’s a triple win for everyone and it’s only from Second Nature.. Second Nature (https://www.secondnature.com/)

Shout-out to all of our fabulous Industry Icon Sponsors for supporting our show:

SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)
Latchel (https://www.latchel.com)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Bob Hansen, Principal at Second Nature, joins host Bob Preston to discuss the mid-market multifamily rental sector and its challenges and opportunities. He highlights the importance of attracting renters through amenities and value-added services. Bob also discusses the impact of economic factors on rental rates and the challenges tenants face in affording rent. He emphasizes the need for property managers to focus on the resident experience and leverage technology to meet the younger generation’s expectations. Listen in as Bob Preston and Bob Hansen unpack the mid-market multifamily sector and the opportunities for property managers to grow their portfolios.

Topics Covered
01:45 Introduction and Background
03:45 Overview of the Mid-Market Segment
06:25 Factors Shaping Demand for Mid-Market Rental Units
10:45 Affordability and Tenant Challenges
12:45 Keeping Properties Performing at Optimal Level
17:15 APM Help Midroll Comnmercial
18:30 Importance of Occupancy Rates
19:25 Amenities and Features in the Mid-Market Sector
21:45 Resident Benefit Package and Second Nature's Offerings
31:00 Outlook for the Mid-Market Multifamily Sector

Connect with Bob Hansen: https://www.secondnature.com/

Episode 79 Featured Sponsor: APM Help
APM Help specializes in offering property management services, including trust account bookkeeping, daily bank reconciliations, audit and compliance support, maintenance coordination, and more. (https://www.apmhelp.com/)

Shout-out to all of our fabulous Industry Icon Sponsors for supporting our show:

SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)
Latchel (https://www.latchel.com)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Pete Neubig is the co-founder and CEO of VPM Solutions – the first and only staffing solution platform targeted specifically toward property managers and real estate professionals. In addition to his professional accomplishments, he is also an Ironman triathlete.

Tune in as Pete shares his experiences and insights with host Bob Preston, discussing the types of tasks suitable for virtual assistants, the benefits of hiring remote talent, and the role of technology in streamlining operations. He also touches on different team structures, the monetization of maintenance, and effective marketing strategies.

Topics covered:
(03:23) Pete Neubig’s background
(06:32) The resistance to office return, but it's happening
(11:40) Centralized staffing based on office size
(14:02) Use virtual assistants and automation for efficiency and profitability.
(19:09) Average VA hourly rates
(21:59) Maintenance coordinator training takes 90 days
(26:39) Pre-interviews, final interviews, and quick decision-making
(29:50) The VPM Academy
(34:24) Why remote team members are worth the shot

Connect with Pete Neubig: https://vmpsolutions.com/

Episode 78 Featured Sponsor: Showdigs
Showdigs is the only all-in-one leasing software with a suite of tools designed to streamline each step of the leasing process. Showdigs’ network of licensed real estate agents is specially trained to handle fieldwork like showings and condition reports so you can focus on scaling your business.
Showdigs (https://www.showdigs.com)

We're also giving a huge shout-out to all of our fabulous Industry Icon Sponsors for supporting our show and the property management industry:

SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Bob Preston is the founder and creator of Property Management Brainstorm. He goes solo in this episode to unpack the question of what makes Property Management Brainstorm different and explains his experience in "Hitting for the Cycle."

Topics covered:
(02:00) Bob explains why he is communicating his purpose in property management consulting
(02:30) Why all the noise and FUD about consulting services?
(03:30) Never disparage the competition
(04:12) Why do we offer services that no one else can replicate
(04:46) Featured Sponsor, Upkeep Media
(05:30) "Hitting for the Cycle" in Property Management
(06:00) How Bob has hit for the cycle, touching all the bases
(07:45) Property Management Brainstorm can help through all the stages of your PM company

Episode 77 Featured Sponsor: Upkeep Media
Upkeep Media specializes in property management marketing. With custom-tailored marketing plans, their approach is as unique as each company they work with. Upkeep Media effectively grows property management companies using a variety of Internet marketing tools.
https://www.upkeepmedia.com

We're also giving a huge shout-out to all of our fabulous Industry Icon Sponsors for supporting our show and the property management industry:

SureVestor (https://surevestor.com/)
Blanket (https://blankethomes.com/)
VPM Solutions (https://www.vpmsolutions.com)
RentScale (https://rentscale.com/)
APM Help (https://www.apmhelp.com/)
Upkeep Media (https://www.upkeepmedia.com/)
Second Nature (https://www.secondnature.com/)
zInspector (https://www.zinspector.com/)
Showdigs (https://www.showdigs.com)

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Stephen Fox is the co-founder and Vice President of Operations at Upkeep Media, the company that helps property management companies grow by implementing effective marketing strategies. He joins the show to unpack the importance of having a strong online presence in the competitive property management industry.

From the initial interaction with potential clients to attracting property owners, Stephen and host Bob Preston will discuss valuable insights and strategies for building an effective online presence.

Topics covered:
(03:23) Stephen Fox’s background
(04:46) Why the property management industry is Stephen’s focus
(08:55) How critical is an online presence in our industry?
(13:19) The lemonade stand principle
(15:36) Having a marketing mix
(21:45) Developing websites and leveraging SEO
(23:36) Featured Sponsor,VPM Solutions
(24:32) Upkeep Media’s growth marketing sessions with new clients
(27:49) Identifying goals for your website
(33:08) What has produced the best results for Upkeep Media’s clients?
(36:30) How to capture leads through your website
(41:00) Stephen’s closing thoughts

Connect with Stephen Fox: https://www.upkeepmedia.com/

Episode 76 Featured Sponsor: VPM Solutions
Find your perfect Real Estate or Property Management Virtual Assistant.
Stop looking for remote talent the old way. Choose from 1,000s of candidates from over 100 countries specific to the housing industry. Source, Train, Onboard and Pay all in one place all for Free. VPM Solutions is the only online platform built specifically for the property management industry.
VPMSolutions.com

We're also giving a huge shout-out to all of our fabulous Industry Icon Sponsors for supporting our show:

SureVestorBlanketVPM SolutionsRentScaleAPM HelpUpkeep MediaSecond NaturezInspector

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

A handful of entrepreneurs in the property management industry have helped bootstrap and grow a property management company, sold the company, remained in a senior capacity with the acquisition company, and ultimately moved on to start yet another property management venture. One of those individuals is Travis Bohling of Phoenix, Arizona.

He is the co-founder of the property management company Home Ladder. Tune in as host Bob Preston and Travis delve into the importance of saying no and choosing a specific direction to the challenges of working in a large company where decision-making is hindered.

Topics covered:
(02:45) Travis Bohling’s background and his new venture, Home Ladder
(03:29) When Travis first decided to get into property management
(04:57) His work with RentVest
(07:23) The early stages of Travis’ property management company
(11:33) Expanding to other markets
(14:25) SureVestor Midroll Commercial (60-seconds)
(15:35) The decision to sell RentVest
(19:09) The acquisition process and working for Mynd
(23:28) The integration process of merging with a property management company
(28:33) About Home Ladder and its plans
(29:28) What is an ‘investor agent’?
(37:03) Closing thoughts

Connect with Travis Bohling
https://www.linkedin.com/in/travis-bohling

Episode 75 Sponsor: SureVestor
Insurance. Innovation. Inspiration.
At SureVestor, we’re Property Managers, too. That puts us in a unique position to offer innovative insurance solutions you’ve never seen before. Our Protection Plus bundle covers you and your owners when the unexpected happens. For instance, malicious damage, loss of rent and eviction fees, lawsuits, and certain accidental tenant damage.
https://surevestor.com/

We're also giving a huge shout-out to all of our fabulous Industry Icon Sponsors for supporting our show:

SureVestorBlanketVPM SolutionsRentScaleAPM HelpUpkeep MediaSecond NaturezInspector

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Churn rate – or also known as attrition rate – is something we all try to avoid but it is a big problem for most property managers. Our guest today unpacks what he is doing to address this challenge.

Lior Abramovich is Co-Founder and CEO at Blanket, a company helping property managers keep their doors open by building thriving relationships with their clients. Tune in as he and host Bob Preston unpack the many definitions of churn, understanding each client, why we need to invest more in relationships, and much more.

Topics covered:

(02:03) Lior Abramovich’s background and what Blanket does

(13:28) Understanding more about churn rate

(20:09) What is positive churn?

(23:12) How Blanket reduces churn

(26:45) How the Blanket dashboard works

(32:01) The data and technology behind Blanket – in layman’s terms

(33:31) The goals of a property owner versus the property manager

(38:55) Getting commission on deals

(43:08) Blanket’s business model

(49:20) Comparing to other marketplace platforms

(53:48) The customer reactions to Blanket so far

(57:00) The art of building relationships with clients

Connect with Lior Abramovich
https://www.linkedin.com/in/liorabramovich/

We're giving a huge shout-out to our amazing Industry Icon Sponsors for supporting our show:

Surevestor
Blanket
VPM Solutions
RentScale
APM Help
Upkeep Media

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

A high-performing team is more than just a group of talented individuals. It's a cohesive unit that collaborates, focuses on continual improvement, and works toward common objectives to achieve outstanding results. Building high-performing teams has never been more imperative in today's dynamic property management industry. Yet, it has also never been more challenging.

On this episode of Property Management Brainstorm, host Bob Preston is joined by Gwenn Aspen, co-founder and president of Anequim, an organization focused on the property management industry to help companies be more efficient and successful. Tune in as Gwen and Bob will delve into the principles, strategies, and practices that enable organizations to harness the full potential of their property management workforce.

Topics covered:
(02:41) Gwenn Aspen’s background and what Anequim does
(04:48) How achievable is building a high-performing team?
(07:38) Where do you start with building a high-performing team?
(09:51) Entrepreneurial Operating System: the core principles
(13:20) Why you need a vision
(16:36) Where does company culture come from?
(28:47) The power of accountability
(32:03) Establishing clarity
(35:20) EOS rocks… and what are they?
(37:35) Performance reviews and celebrating wins
(42:37) Gwen’s closing thoughts
(44:25) Get in touch with Gwen

Connect with Gwen Aspen, Anequim
https://anequim.net/

We're giving a huge shout-out to our amazing Industry Icon Sponsors for supporting our show:

Surevestor
Blanket
VPM Solutions
RentScale
APM Help
Upkeep Media

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.

Property Management Brainstorm host Bob Preston has met many property managers in the industry. Bob and AJ Shepard of Uptown Properties have known each other for the last few years, mainly from their involvement in the NARPM organization. AJ is also a real estate investor, active in real estate syndication, and owns a beer brewery.

Bob and AJ discuss the buzzword Artificial Intelligence, AI for short, and how it can be utilized in property management companies to streamline operations and increase efficiencies. This is his second time on the show, so we are excited to welcome AJ back to the Brainstorm!

Topics Covered:[1:58] AJ Shepard introduces himself and his company, Uptown Properties.

[2:55] AJ explains his involvement in the NARPM organization and why he is running for President-elect for the NARPM National Board of Directors.

[12:30] Bob and AJ discuss the definition of Artificial Intelligence (AI) and its use in the property management industry.

[14:24] Is AI synonymous with automation?

[16:45] Are routine tasks of property management the primary application for AI in our industry?

[21:55] Can AI be used by property management company owners for higher-level predictive analysis and decision-making?

[23:35] Property management is a people business. Is there a risk of AI losing that personal touch?

[26:45] Bob and AJ discuss Smart Home technology and its application of Artificial Intelligence in managing rental property portfolios.

[30:20] AJ provides his parting words and thoughts on AI.

Connect with AJ Shepardhttps://www.uptownpm.com/

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

If you've spent some years in the property management industry, you have become aware of the value of operational systems. A well-run business must systematize. Webster defines systemization as "arranging according to a definite plan or scheme." Everything property managers must keep streamlined: business development, owner onboarding, move-ins/outs, rent collection, evictions, etc.

In this episode of Property Management Brainstorm, Bob's guest is Paul Kankowski, a systems expert and host of the Property Management Systems Conference, scheduled to be held in Las Vegas January 23 – 26, 2024. Bob and Paul discuss systems and why the concept is essential to every property management company.

Topics Covered:[2:10] Paul Kankowski introduces himself and the PM Systems Conference.

[4:06] Do the terms Procedures, Policies, Methods, Systems, Workflow, and Process all of these mean the same thing?

[5:05] Why is it a bad idea for the company staff to keep their systems and processes only in their heads?

[7:10] Paul explains why you can't just "set it and forget it" when it comes to property management systems.

[10:40] Can documented property management systems help with risk management?

[12:12] Is there an art to creating a system and where do you start if you know your company is lacking?

[20:10] Which company aspects should be the top focus areas for creating systems?

[27:35] Should systems be automated or driven by Artificial Intelligence (AI)?

[29:45] Paul provides his parting words and thoughts on systemization.

Connect with Paul Kankowski

https://www.pmsystemsconference.com/
paul@pmsolutionspro.com

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

During his time in the property management industry, Bob Preston has met many property managers all over the USA. One of the most exciting stories he has heard is that of Amy Hanson, who has purchased a property management company, sold it, and started another in a different city. There are many lessons to learn from Amy, including how NARPM has helped shape her journey!

In this podcast, Bob speaks with Amy Hanson about how she started in property management, the importance of the NARPM organization in shaping her career, and the lessons she has learned that can help many other property management companies.

Topics Covered:[1:35] Amy Hanson introduces herself and her company, A Plus Management, in Plano, TX.

[9:00] Maintaining a work-life balance as a property manager.

[11:14] How the NARPM organization has influenced Amy's career.

[17:40] What lesson did Amy learn from her first company in San Antonio, TX, that helped her start A Plus Management in Plano, TX?

[19:40] What Amy knows now that she wishes she had learned in her first property management company?

[21:05] What ancillary fee has Amy implemented at A Plus Management that she would not have thought of with her first property management company?

[23:28] What is the best technology Amy utilizes today in the tech stack at A Plus Management that she wishes she had access to in her first company?

[28:10] Amy shares her final thoughts, tips, and lessons learned.

Connect with Amy Hanson, A Plus Management

https://www.aplusrocks.com/

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Hello brainstormers, it's an exciting day for Property Management Brainstorm! If you've been tuning into the podcast recently, I've alluded to a new direction and sense of purpose for Property Management Brainstorm. Well, the time is finally here!

Moving forward, Property Management Brainstorm will be a property management consulting company AND a podcast dedicated to the property management industry. We will focus our consulting services on property managers and business owners looking to add doors, grow recurring revenue, and build a high-profit property management business. Many of the Property Management Brainstorm podcast topics will address these same themes.

Some of the areas of consulting services to be offered:

Property Management Strategies
Operational Efficiency Improvement
Market Analysis
Financial Management
Tenant Relations and Customer Service
Property Maintenance and Upkeep
Technology Integration
Legal and Regulatory Compliance
Training and Education
Crisis Management
Risk Management
Business Development and Market Expansion

Listen to this episode and Bob's briefing on the new direction and why this is important to the property management industry.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

Pest control is an absolute necessity when managing a portfolio of rental properties. Especially in Summer, bugs and pests will find a way to enter homes and show themselves to tenants. Bob Preston discusses a new approach to pest control with Tom Clements of Pest Share.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

A property manager's handling of rental property maintenance is vital to every management company in our industry. Bob Preston has a lively discussion and suggests that "maintenance shouldn't be so hard" with his guest, CEO of Property Meld, Ray Hespen.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have plans to relaunch Property Management Brainstorm soon with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

Several words may be used for our discussion today: process, systems, workflow, and action items might all be used in this context. Property managers have a long list of job activities that must be completed regularly through a standardized operating procedure. Bob Preston discusses the importance of property management industry systems and processes with Lead Simple's CEO, Jordan Muela.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have big plans coming soon to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose. Keep an eye out for that update in the form of a new podcast post. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

Service Level Agreements (SLAs) can be used effectively within property management companies to maintain the standard of customer satisfaction for tenants, property owners, and service providers. Bob Preston discusses this topic with Ethan Lieber, CEO of Latchel.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

We have big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

Bob Preston and Kellie Tollifson, of T-Square Properties discuss what it takes to build a solid property management business. They also review how much it helps to be a National Association of Residential Property Managers member, or NARPM (N-A-R-P-M).

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

One of the newest trends in the property management industry is the Resident Benefits Package. Our guest on this episode is Andrew Smallwood of Second Nature, the leading provider of RBP program implementation. Bob and Andrew discuss why air filters are essential for a healthy home environment and how Second Nature can help property management companies launch their RBP.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

The tenant turnover process can be a huge hassle when managing a rental portfolio. From listing and promoting the property to screening tenants, then signing the lease, it can sometimes take a village to manage the process at scale effectively.
Bob Preston discusses these challenges for property management companies with James Barrett, co-founder of Tenant Turner, a software application that takes the hassle out of the tenant turnover process. They have perfected the self-showing concept, which has proven to be a game changer for property managers.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

This episode is the OG, one of my very first, and you can tell as I was still perfecting my audio quality (ha-ha). But the content is still pertinent today, regarding Broker Trust account compliance, featuring Allison Disarro, at the time with Seacoast Commerce Bank, now Enterprise Bank, and Trust. Bob and Allison discuss the concept and importance of the Broker Trust Account for property management companies, how these accounts are set up correctly, and which funds will be held in the account.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, coming in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

In this episode, Bob Preston addresses that four-letter word, MOLD, with his guest Jason Widmer. Best practices in the property management industry are critical for maintenance, and the most rapid response is required when there is water damage. Bob and Jason roll up their sleeves and dive into restoration best practices.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We have some big plans to relaunch Property Management Brainstorm, with a renewed definition and a sense of purpose, coming in August of 2023. In the meantime, we are producing some reruns of the best podcast episodes, called PMB Classic Rewind.

In this episode, Bob Preston tackles the homelessness issue with Todd Gloria, Mayor of San Diego. A crisis is emerging in which many US citizens cannot afford housing and live in substandard conditions. As active participants in the property management industry, what is our responsibility to contribute solutions to this housing crisis? Bob addresses this question and more in this inspiring episode.

Connect with Bob Prestonhttps://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Can you imagine turning units without having to leave the office? In today’s episode, we find out how a property management software can do just that. Joining Bob today is Kobi Bensimon, Founder of Showdigs – the only property management software with on-demand showing agents. It has completely disrupted the residential property management industry by providing a network of actively licensed real estate agents who are trained to handle showings, alongside an easy-to-use scheduling system for prospects.

In this fascinating conversation, we find out how Showdigs works, the benefits of having a distributed workforce, managing more properties in a larger geographic area, and some key efficiency killers to look out for.

Topics Covered:

[2:53] Kobi Bensimon introduces himself and how he founded Showdigs.

[6:14] How Showdigs works and how it helps reduce ‘windshield time’

[11:12] The on-demand nature of the platform and the benefits of having a distributed workforce

[13:10] Working with licensed active field agents through Showdigs

[19:24] The interaction between a property management company and the agent

[21:50] The importance of having trust in field agents through the platform

[24:21] The typical workflow of making a listing

[27:01] How to overcome inbox overwhelm

[30:01] Handling the Move In Move Out (MIMO) process

[34:16] Showdigs’ process for documentation

[36:13] How an agent looking for a side gig can join Showdigs

[39:13] The importance of metrics and KPIs – and the ones to look out for

[46:47] Kobi’s story of emigrating from Israel to the US, and how he built his first property management tool, ActiveBuilding, after studying at MIT.

Connect with Kobi Bensimon, Founder, Showdigs and ActiveBuilding

https://www.linkedin.com/in/kbensimon/

Find out more about Showdigs

https://www.showdigs.com/

Connect with Bob Preston

https://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Is California in a housing crisis? This is a rhetorical question because the answer is an astounding YES!

In California, an estimated 150,000 citizens have become homeless or live in shelters, while over 7 million Californians have been impacted by gentrification and are living in poverty.
The median home price in California has eclipsed $800,000.
Meanwhile, California remains one of the most difficult places in America to build affordable housing.

At the CALNARPM Conference in Napa Valley, April 21, 2022, Bob hosted and facilitated a panel in front of a live audience that addressed this topic. For this episode of Property Management Brainstorm, we've turned a recording of that panel into a podcast! Bob posed some dicey questions to the expert panel which resulted in a lively discussion.

Bob is joined on the panel by Oscar Wei, Deputy Chief Economist, California Association of Realtors; Aaron Eckhouse, Regional Policy Director, California YIMBY ; and Keith Becker, General Manager, DeDe’s Rentals, Santa Rosa, CA.

Topics Covered

[3:15] Bob, Oscar, Aaron, and Keith introduce themselves to the audience at CALNARPM.

[5:50] A recent 60 Minutes segment, featuring Seattle, focused on the housing and homeless crisis in that city. Is there a comparison between what is going on in Seattle and our housing crisis throughout California.

[11:30] California's housing crisis is a complicated topic. What are the reasons we find ourselves in this situation?

[18:45] California builds far below the approximately 180,000 homes needed each year, just to keep up with growth. So what is broken, why aren't we building?

[25:55] The supply of starter homes is shrinking by about 17% per year, a new generation of Californians don’t want to be tied down to a mortgage, and institutional investors are paying cash for single family homes, all of which have an impact on our local housing stock.

[37:10] With rents escalating at a rapid rate, are further protections needed for renters in California beyond AB 1482 and AB 3088?

[47:45] Are corporations, property management companies, and private citizens doing enough to have an impact on our housing crisis?

Connect with Oscar Wei, California Association of Realtorshttps://www.car.org/marketdata/podcast Connect with Aaron Eckhouse, California YIMBYhttps://cayimby.org/ Connect with Keith Becker, DeDe's Rentalshttps://www.dedesrentals.com/ Connect with Bob Prestonhttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In a property management company, recruiting and maintaining staff members who fit within the company culture is one of the biggest business challenges. Most of us in the post pandemic world are running hybrid if not fully remote work routines so there is no reason to be tied by geographic boundaries. On this episode of Property Management Brainstorm, Bob speaks with Pete Neubig, CEO at VPM Solutions, about finding and retaining talent in your property management company. VPM Solutions is an online placement, payment, and training platform dedicated exclusively to the property management industry, to connect employers with virtual assistants.

Topics Covered[2:55] Pete introduces himself and company, VPM Solutions.

[6:25] What is going on with the “big quit” and why is it so hard to find good people to fill open positions in our companies?

[12:30] Pete explains how VPM Solutions works and walk us through the process of finding virtual employee candidates.

[14:45] What is a Virtual Assistant and what are the positions within property management companies which a VA could be hired to fill?

[18:00] What is the typical savings a company may see in hiring a virtual staff member and why?

[21:50] Are employers at risk at all in getting flagged by state employment regulators?

[25:48] Differences between VPM Solutions and other virtual assistant companies.

[27:50] What’s involved in getting started with VPM Solutions and how much does it cost?

[31:40] Pete talks about his side hustle as the host of NARPM Radio and tells a great story about his positive experiences in training and participating in Triathalons.

Connect with Pete Neubighttps://www.vpmsolutions.com/ Connect with Bob PrestonProperty Management Companies in San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode of Five Minute Friday, Bob brings his excitement about the upcoming CALNARPM Conference, April 20th - 22nd, in Napa Valley, CA!

This is a must attend property management conference, especially if you are a property manager or landlord practicing within the State of California. No kidding, it is the best state chapter conference every year and registration is only $295. Hurry and get registered now before it sells out! There will be an amazing slate of speakers, best networking you can find in the property management industry, and all within the ambiance of the California Wine Country in Napa, CA.

We have two fantastic key note speakers:

Chip Eichelberger will be speaking on the ability to ‘Get Switched On’ and be at your best consistently in your property management business.
Holden Fox will share “The Million Dollar Client Experience” on leveraging the smallest changes that will generate outsized benefits.

Throughout the conference you will also have your choice of listening to sixteen amazing breakout session speakers addressing property management paradigm shifts, legal changes, and compliance requirements in the state of California.

There will also be a solutions and services tradeshow with twenty-eight sponsors, showing and demonstrating what can make your property management business more profitable.

Get registered today and we will see you there when we kick off the CALNARPM Conference and Tradeshow at 9 am on April 21, 2022 in Napa, CA!

Check out the Conference Agenda and get your ticket here: https://narpmcalifornia.org/conference/

Register for the Education Courses on April 20th:
Intro to Maintenance with Steve Schultz, MPM® : See More on NARPM.org and Register
Advanced Personnel Procedures with Kellie Tollifson, MPM®: Read More on NARPM.org and Register

Connect with Bob PrestonSan Diego Property Managementhttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode of Five Minute Friday, Bob is talking trash! No, not the smack talk variety, but rather new California legislation which has taken effect regarding the disposal of organic waste.

This is something for CA landlords and property managers alike to be aware of, especially for multifamily buildings and apartment communities. Why is California doing this? California throws away more than 6 Million tons of food waste every year and more than 24 tons of combined “green organic waste”. SB 1383 is the new law which aims to reduce the short-lived pollutants that many Californians are currently putting in our landfills.

Why is this important? The reason is that landfill organic waste emits methane, a super pollutant that is more powerful as a greenhouse gas than CO2. SB 1383 advocates are targeting Californians to reduce organic waste disposal by 75% by 2025.

For those wanting more information on SB 1383 and California composting requirements, visit the Cal Recycle website at this web link:

California Composting Requirements Website:https://www.calrecycle.ca.gov/organics/slcp/

Thank you for joining Five Minute Friday, TGIF and we will catch you next week!

Connect with BobSan Diego Property Managementhttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

The California legislative session for 2021 has come to a close and there is some important information to share about new California laws for 2022 pertaining to Covid 19 and tenants who may have suffered an impact. On this Five Minute Friday, Bob reviews the current status of the Covid Tenant Relief Act and what California landlords and property management companies need to consider before taking action on a tenant for nonpayment of rent prior to March 30, 2022. Disclaimer, we are not an attorney and this by no means is intended to be legal advice or a complete legal review, but rather an overview of those landlord / tenant law changes that seem most important to be aware of during Q1 of 2022.

The COVID Tenant Relief Act (CTRA) was initially passed by AB 3088, and was subsequently extended and modified several times in 2021, with the last extension being AB 832. Bob covers a review of AB 832, the creation of the COVID-19 Rental Housing Recovery Act, and steps that landlords need to take if rent is delayed by a tenant and not paid by the monthly due date between from October 1, 2021 through March 31, 2022.

TGIF and we will back with another great FMF episode next Friday.

Connect with BobProperty Management San Diegohttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Let's go back to some of the best guest conversations from last year in the “Best of Brainstorm 2021”, soundbites and highlights from leaders in the property management industry.

Topics Covered[3:28] Episode 61 featured Mark Scott of Encore Realty in Bonita, CA and Daniel Rogers of All Seasons LLC in Colorado Springs, sharing their thoughts on moving away from the term "landlord" with a preference for "housing provider".

[6:40] In Episode 51, our guest was Niv Davidovich, of Davidovich Stein Law Group, who gave us an update on eviction law and squatters rights in California.

[9:58] One of my fellow NARPM Regional Vice Presidents joined me on Episode 54, AJ Shepard of Uptown Property Management in Portland, to talk about the ins and outs of real estate syndication.

[11:34] Three guests joined the show on Episode 59, Understanding Section 8 and the Housing Choice Voucher Program: Tyler Craddock, Governmental Affairs Director for NARPM, Patti Robertson of PMI Virginia, and Amanda Han of Cornerstone Properties in Hawaii.

[15:18] Episode 53 featured Brad Larsen, of RentWerx San Antonio discussing opportunities that exist for property management companies in this amazing industry.

[18:08] Joe Easton from Rent Manager joined us on Episode 52 to talk about Property Management Software, the various players, and where Rent Manager fits into the mix. .

[19:54] Episode 60 featured Liz Cleyman of Grace Property Management in Thorton CO, Kellie Tollifson of T-Square Properties in Bothell WA, and Kathleen Richards of PM Made Easy and The Property Management Coach from Santa Cruz, CA. We discussed the importance of taking time away on vacation, and the benefit that results from having that down time.

[22:40] Listen up to a clip from Episode 62: Tax Considerations for Real Estate Investors. Richard Hart covered tax related topics, from 1099s to 1031 exchanges. .

We can’t wait to keep it going in 2022 to bring you more valuable property management content!

Connect with BobProperty Management San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn,

From our experience at North County Property Group as a landlord and property manager, it seems that for as many hours as there are in the day, there are three times as many interruptions that take you away from work that needs to get done. In the office, you can easily lose your train of thought with everyday interruptions and if working from home you’ll find lots distractions too.

In small doses, distractions can actually be a good thing. Small breaks during the day often help to refresh your mind and prevent stress and burnout. But when you take too much time away from important work to deal with less important tasks, you’re sabotaging your own productivity.

What can you do to get a little more clarity and get rid of those distractions?

Turn off the background noise.
Have a calming mantra.
Clean up your office space, desk, and email inbox.
Focus on two top priorities each day and tackle one thing at a time.
Say no to checking your email and put your phone on silence.

Are you up for the challenge to avoid property management distractions?

TGIF, have a great weekend, and I will catch you next week with great topic on Five Minute Friday.

Connect with BobProperty Management Company in San Diegohttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

At North County Property Group, we just love the month of January. No, not because of setting new year resolutions or starting yet another failed diet, but because it is the best time of year to kickoff new strategy and plans for our San Diego property management company.

In this episode of Five Minute Friday, Bob shares his five ways to kick off 2022 with a bang at your property management company!

1. Develop your forecast, budget, and strategic plan.

2. Do an organizational checkup.

3. Set team accountability and goals.

4. Host a 2022 launch meeting.

5. Take the 15% budget trim challenge.

Do these things and you will have a great start to 2022!

TGIF and I will catch you next week with great topic on Five Minute Friday.

Connect with BobSan Diego Property Managementhttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Pest control in rental properties is a challenging topic for any property management company. Treating for ants, termites, mice and other unruly pests is likely to come up in almost any residential property. And determining who is responsible for treating a rental property for pests can also be a sensitive topic. Is it the tenant's responsibility that a property may have a huge ant problem, or is it a severe problem that existed prior to move in and therefore may be the responsibility of the landlord?

With Bob as a guest on this episode of Property Management Brainstorm is Tom Clements of PestShare, a company with a new approach to pest control with the goal of happier tenants and property owner savings. Have a listen to learn a lot about the importance of pest control and this new concept for property managers.

Topics Covered
[2:15] Tom Clements tells us about himself and the concept of PestShare.

[3:00] The importance pest control when it comes to rental property care and maintenance.

[4:15] When a pest issue emerges, get it reported and treated quickly.

[9:20] Different pests may be specific to certain geographical areas and climates.

[11:00] Are chemicals used in pest control safe and should property managers be concerned about tenant safety?

[20:00] The importance of professional pest treatment within guidelines of state and local laws and ordinance.

[21:10] The value proposition of PestShare and the power of numbers.

[23:00] Tom explain the process and how it works for reporting and treating pest problems through PestShare.

[29:30] We here last comments from Tom about including PestShare in a property manager's Resident Benefist Package and a special program PestShare offers to NARPM members.

Connect with PestSharehttps://www.pestshare.com/ Connect with BobProperty Management Company in San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Amazon Music, Google Podcasts, Stitcher, Spotify, TunedIn.

There is no denying that Property Management can be an all-consuming profession. Once a Property Management business is established, however, it can be a fun and fruitful enterprise. For those who are considering starting a property management company, will 2022 be a good year and is the timing right?

On this episode of Property Management Brainstorm, host Bob Preston is joined by Kathleen Richards who will share her thoughts on starting her own company and coaching others how to do the same. Kathleen is Founder of The Property Management Coach. She is also a nationally recognized coach, speaker, instructor, author, and thought leader for the last 30 years focusing on business, leadership, and specifically the field of property management.

Topics Covered
[2:30] Kathleen introduces herself and tells a bit about her coaching company, The Property Management Coach.

[4:15] With all the changes in the real estate market and landlord/tenant laws, is this a good time to start a Property Management company?

[10:10] Before starting a Property Management company, should that person to do an initial gut check to make sure they are cut out for it?

[17:50] Success factors and the profile of a person who is well suited to start a Property Management company.

[24:15] Buying an existing Property Management company vs. starting your own company ... which is the best approach?

[28:15] Bob and Kathleen discuss buying a franchise to start a Property Management company.

[31:15] Kathleen speaks about her approach and her "Three Step Approach" to running a successful Property Management company.

[40:10] Kathleen shares her story about how and why she got her start in Property Management.

[43:10] Kathleen shares her closing thoughts and to can reach her to learn more about her Property Management coaching and training.

Connect with Kathleen Richardshttps://www.thepropertymanagementcoach.com/Kathleen's online course and traininghttps://pmdoneright.com Connect with BobProperty Management Company in San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Amazon Music, Google Podcasts, Stitcher, Spotify, TunedIn.

Happy New year and welcome back to Property Management Brainstorm podcast and the first Five Minute Friday in 2022! We are back for 2022 and ready to go for in the new year with renewed energy and enthusiasm to bring you great content from the Property Management industry.

In this episode of Five Minute Friday, Bob shares some of the topics he plans to cover in 2022 starting with how to kick start your year, forecast and motivate your team for to achieve your identified goals and objectives. There are many Legislative Updates for 2022, including new California laws, compliance dates and other trends which will affect California residential landlords. Perhaps the most important of these are the most recent laws and laws forthcoming to related to the COVID-19 pandemic and the COVID-19 Tenant Relief Act (CTRA). So make sure and stay tuned for that!

There are also a lot of new trends in the property management industry such as new technologies and approaches to everything from rent collection, application screening, to new forms of renters and landlord insurance, implement systems, where to find good property management coaching, and more!…. Exciting stuff to provide updates on for sure!

So, stay tuned and get ready to brainstorm with us on some new topics and ideas for 2022. TGIF and I will catch you next week with another hot topic of interest on Five Minute Friday.
Connect with BobNorth County Property Grouphttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As a real estate investor or property manager, it’s imperative that you have great representation regarding tax considerations. This is true, not only for running our own businesses, but also to provide the best possible advice if you have investment partners or investment property clients for your property management business. The key is planning to successfully and legally reduce tax liability in order to maximize after-tax income.

On this episode of Property Management Brainstorm, host Bob Preston is joined by Richard Hart, of Hart & Associates, a tax consulting firm providing guidance and services to property managers and investors. Richard is also a NARPM affiliate for those of us who are members of the National Association of Residential Property Managers. Richard and Bob explore tax related considerations that all property managers and investors will want to hear.
.
Topics Covered
[2:40] Richard introduces himself, his tax accounting company Hart Associates, and how they can help you protect your hard earned money through legitimate and legal real estate tax planning.

[4:25] Reactionary vs. proactive: Richard explains the most common tax mistake he sees from real estate investors and property managers.

[7:25] From a tax and legal perspective, what is the best company structure is most favorable for real estate investors and property management companies?

[10:15] Many real estate companies received Payroll Protection Program loans during the peak of the Covid-19 pandemic. What is the proper accounting method for showing these loans on your company books once the loan has converted to a grant?

[13:10] Bob and Richard discuss the length of time real estate accounting and tax records should be retained in case of audit.

[15:05] Richard reviews the process for handling foreign investors who are seeking property management for their USA based real estate investment.

[20:45] IRS Forms 1099-misc and 1099-NEC, which one is right for reporting nonemployee income?

[22:05] The "2 out of 5" rule of rental properties to claim the tax exemption on capital gains when a property is sold.

[25:32] A quick overview of the concept of 1031 Exchange.

[29:55] Real estate tax decution fundamentals.

[33:10] Richard shares his closing thoughts and how you can reach him to learn more about tax considerations for real estate investors.

Connect with Richard Harthttps://www.hartassociate.com/ Connect with BobProperty Management Company in San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Amazon Music, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and

Property Management Brainstorm host, Bob Preston, wrote an article for the December issue of NARPM’s Residential Resource Magazine, titled Ten Best Practices in Relationship Management. We thought it would be good to spend todays FMF on a quick review of those 10 best practices:

Online Presence – This is where a cand interacting with your company digitally through your website or social media.
CRM Software – Everything related to staying connected with that individual customer can be found in one place – names, addresses, numbers, contact info, and notes on the history of the relationship.
Responsiveness – If you don’t respond quickly, either too a new prospective customer or an established one, it will be impossible to forge a positive relationship.
Building Trust – There is no silver bullet for this one, just using common courtesy – show up on time, respond when you say you will, bring solutions and not problems, be an expert not an instigator.
Regular Communication – Staying in touch with your customers and keeping an open line of communication is of course critical to positive relationships.
Reviews – While you have no control about what a customer may say, it stokes the relationship when you let them know how they can leave a review.
Customer Appreciation – Your customers are more than a profit center and number on a spreadsheet. The are a living/breathing source of your good fortune to have paying clients and deserve to have a relationship with you.
Giving Back – Showing customers you are a socially responsible company goes a long way toward indirectly improving what customers think of you.
Dispute Resolution – It is highly likely that we all will face occasional conflict with a customer which provides an amazing opportunities to change the narrative, do the right thing, and show your ability to listen toward a mutually beneficial solution.
Staying Ahead of the Curve – Embracing ways to improve your customer service by staying up on trends and adapting them to your company will go a long way to improve your relationship management.

Relationship management is not always about the bottom line. Creating a company culture to treat others with respect will be the ultimate foundation for a great relationship management program, and you bonus, you will likely get new customers in the process!

Connect with BobProperty Management San Diegohttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As a landlord or property manager, do you ever feel like the word “landlord” comes with a negative connotation? The word has been in use for over 1000 years, dating back to an Old English concept, in which tracts of land were owned by a single person who came to be known as a "lord", and those occupying the land became bound and dependent on their lords for protection and of course obligated to pay rent for that privilege. Even though our culture has moved well beyond this ancient system, the lingering negative essence of the word "landlord" remains for many. For some in the industry, we need to change the narrative away from the term 'landlord" with a preference for "housing provider".

On this episode of Property Management Brainstorm, Bob's guests are Mark Scott, of Encore Realty, in Bonita, CA and Danielle Rogers, of All Seasons LLC, in Colorado Springs, CO. Both of our guests are involved in national, state, and local government affairs and action committees and have been advocating such a change in terminology
.
Topics Covered
[3:10] Mark and Danielle introduce themselves, tell us about their companies, and what they are doing to advocate changing this narrative from landlord to housing provider.

[5:15] Mark explains his inspiration behind writing his recent article in Residential Resource magazine about this topic.

[8:20] Is there a stereotype that landlords are bad guys and where does that come from?

[10:55] Might this perception of landlords change now that the CDC has backed off on the eviction moratorium?

[20:10] Should we as property managers and housing providers be more involved at the local level with our city councils and local leadership?

[29:40] Mark and Danielle share their closing thoughts and how you can reach them to learn more.

Connect with Mark Scotthttps://www.encorerealtysd.com/Daniel Rogershttps://www.propertymanagementincoloradosprings.com/ Connect with BobProperty Management San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We are very proud that North County Property Group has been awarded with the CRMC designation by the National Association of Residential Property Managers ( NARPM). CRMC stands for Certified Residential Management Company and we are the only property management company in San Diego County to have this honor, only one of four in all of California, and one of less than 50 nationwide.

So what is the big deal and why are property management designations important?

The CRMC and other designations such as the Residential Management Professional (RMP) and Master Property Manager (MPM), shows the world and your local market that you are experienced, educated, have good processes, and have subjected yourself to an outside party for evaluation, audit, and certification.

Would you want someone who is not a CPA to handle your tax return? I doubt it! Likewise, why would you want someone who does not have a designation to manage your property? Designations are an endorsement of the property manager's systems, processes, policies, and compliance with state and national landlord/tenant law.

Connect with BobSan Diego Property Managementhttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Hello and Labor Day weekend! As the Summer winds down and we move into Fall, Property Management Brainstorm wants to say thank you for your trust and confidence as a listener of the podcast. Our objective, and Bob Preston's as well, is to be a trusted source of information for you as a real estate investor, landlord, or property manager. Counting you among our listeners is something for which we are especially grateful.

We are also proud to announce that our podcast host, and CEO of North County Property Group, Bob Preston, has been elected to the Board of Directors for the National Association of Residential Property Managers (NARPM®). We thought our listeners would be interested to know that Bob will be serving NARPM at the national level for a two-year term as the Southwest Regional Vice President and board member, having been nominated and elected by NARPM members who are a group of property management peers within the industry. If you are not familiar with NARPM, it is the industry association, trade organization, and lobbyist group for the residential property management industry. The organization currently represents more than 6,0000 property management members nationwide. So, it is a distinct honor for Bob to be serving in this capacity!

TGIF, Happy Labor Day weekend. That’s it for today's FMF and we will catch up with you next Friday!!!

Connect with BobProperty Management Company in San Diegohttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As a landlord or property manager, do you ever feel like you just can’t take a break from your property management job? Keeping your eyes on the ball so nothing falls through the cracks at your rental properties can be a never-ending concern. Maintenance requests, property viewings, leases to review and sign, tenant move ins, rent collection. Yikes! Research shows that many small business owners either don’t take vacation, or when they do, it’s a “working vacation”.

On this episode of Property Management Brainstorm, Bob's guests are Kathleen Richards of PM Made Easy and The Property Management Coach in Santa Cruz, CA; Liz Cleyman of Grace Property Management in Thorton, Colorado; and Kellie Tollifson of T-Square Properties in Bothell, WA. Bob and the panel discuss the top five reasons why, even property managers, should take a vacation from their business. They will also share their own personal tips and secrets on planning that occasional escape and how it benefits their companies when they do find time away.

Topics Covered
[2:40] Kathleen, Liz, and Kellie introduce themselves, tell us about their companies, and how they spent their most recent vacation.

[10:15] Kathleen explains the inspiration behind writing her recent article in Residential Resource magazine about the importance of taking a vacation.

[12:50] #1 Brainstorming New Ideas: this may at first seem counter intuitive when trying to get away from it all.

[16:12] #2 You've Earned It: it is not selfish to take a vacation, it’s a necessity!

[23:00] #3 Work/Life Balance: getting back in touch with the "why".

[30:55] #4 Improve Productivity: achieve a happy, more satisfying life.

[34:40] #5 Show Your Team You Trust Them: let your team demonstrate they’ve got things under control.

[40:00] Summary with Kathleen, Liz, and Kellie sharing their closing thoughts and how you can reach them to learn more.

Connect with Kathleen Richardshttps://www.thepropertymanagementcoach.com/ kathleen@thepropertymanagementcoach.comConnect with Liz Cleymanhttps://www.rentgrace.com/about lizcleyman@gmail.comConnect with Kellie Tollifsonhttps://tsquareproperties.net/ **ktollifson@tsquaremanagement.com

Connect with Bob Preston*San Diego Property Managerhttps://www.ncpropertygroup.com*This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

The Housing Choice Voucher (HCV) program, often referred to as Section 8, is federal government assistance, administered by HUD, for very low-income families, the elderly, and the disabled. The purpose of the program is to provide participants with affordable, decent, safe, and sanitary housing in the private market. Participants are provided with financial assistance, in the form of a voucher, so they can find their own housing within single-family homes, condominiums, townhouses, or apartments in any geographical location. The goal then, of the Section 8 program is to deliver on the promise of housing choice and opportunity for participating individuals.

Bob discusses Section 8 and some of its challenges. Joining the show on the panel is Tyler Craddock, the Governmental Affairs Director for NARPM; Patti Robertson of Property Management Inc (PMI) Virginia; and Amanda Han of Cornerstone Properties in Aiea, Hawaii.

Topics Covered
[2:15] Tyler, Patti, and Amanda introduce themselves and their companies.

[3:15] Tyler explains the Housing Voucher Program and what reforms might be coming in 2021 and beyond.

[7:00] Patti and Amanda comment on why housing security and geographic choice have sometimes proved elusive.

[11:05] Is the Section 8 program able to keep up with the ever tightening housing market?

[16:15] Why the market pressures can sometimes make placing Section 8 tenants challenging.

[20:55] The screening process for Section 8 participants.

[23:00] Is HUD aware of these challenges and is there bipartisan support in Washington DC for reform?

[24:05] Common misconceptions of Section 8 and the Housing Choice Voucher program.

[30:00] Summary with Patti, Amanda, and Tyler sharing their closing thoughts on Section 8.

Connect with Patti RobertsonPMI Virginiahttps://www.virginiabeachpropertymanagementinc.net Connect with Amanda HanCornerstone Properties Hawaiihttp://www.cornerstonehawaii.com Connect with Tyler CraddockNARPM Government Affairshttps://www.narpm.org/legislative Connect with Bob PrestonProperty Management Companies in San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube<

Hello Brainstorm faithful! We are happy to be back on the air with more Five Minute Friday and Property Management Brainstorm episodes, refreshed and invigorated after a month long hiatus for vacation, family time, and clarity breaks!

In this FMF, Bob makes the announcement that he is now a NARPM® MPM®! That is, the Master Property Manager designation from the National Association of Residential Property Managers. Bob has worked hard over the past year to achieve this designation and honor and describes his journey to obtain the award. At this time, Bob is the only MPM in all of San Diego County property managment and one of only about 270 nationwide, so it is definitely a distinction to be proud of and is kind of a big deal!

An MPM® designation is the highest that an individual member of NARPM can achieve. Obtaining the MPM sets a property manager apart due to the extensive education requirements, managing a minimum of 500 properties over a five year period, and giving back in the form of volunteer work and service to the NARPM organization.

Another update, North County Property Group has submitted its application to be considered for the CRMC® by NARPM. That is that is the Certified Residential Management company designation. This designation is given to the company, not an individual, and requires an audit the day-to-day processes, accounting and legal practices, and confirmation of compliance with all landlord/tenant laws in the state of California. We've not yet been informed of the outcome, but we are optimistic we have passed, and will keep you all posted.

That’s it for today's FMF, we are glad to be back on the air, and will catch up with you next Friday!!!

Connect with Bob PrestonProperty Management Companies in San Diegohttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Hello Brainstormers! We hope you all had a very happy and safe 4th of July holiday and are enjoying your summer! It is great to have things open again for the beach, BBQs, and fireworks, wherever you may be. We needed a day off on the 4th and we are sure those of you in the property management business did too! It’s been tough to keep up with the show that past few weeks as we’ve been making some changes at North County Property Group to pivot back to a full reopening scenario in the State of California and at our company.

Just like when the pandemic started and we had to put new policies in place to adjust to the stay at home orders, we are now rolling back some of the policies we had put in place and opening up our office in full again. June was an interesting month as we determined the rules implemented here in California and where we needed to pivot to adjust to full reopening.

Bob is going to be taking some clarity time during the rest of July to enjoy time with his family, so we will be pausing our Property Management Brainstorm broadcasting for the rest of the month. Property Management Brainstorm full episodes and Five Minute Fridays will back be back on the air with great content again as of early August, 2021.

Thank you so much for subscribing, listening and supporting Property Management Brainstorm! I’m going to be recharging by batteries and will catch you soon in early August!

Connect with BobNorth County Property Grouphttps://www.ncpropertygroup.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As a property manager or landlord, do you ever worry that you are not truly getting the full financial picture when screening tenant applications? A rental application may look quite good and complete, but in reality, some of the aspects that would be helpful in making a decision may not be visible. Wouldn’t it be cool if you could verify renter's income, payroll, past rent payments, NSF & overdrafts all in one, easy to pull, screening report?

On this episode of Property Management Brainstorm, Bob speaks with Craig Schoen, CTO at Rentify. Rentify is a company dedicated to helping property managers and landlords utilize a new approach to get that full picture of a tenant's financial strength during the screening process.

Topics Covered

[2:40] Craig introduces himself and the concept of "open banking technology" in their solution to tenant screening during the rental application process.

[3:45] What is open banking technology and how long has it been around?

[5:30] Streamlining the rental application process.

[6:15] Craig explains what is contained in the Financial Resume Report which is the output of the Rentify application process.

[8:45] How about landlord verifications and credit reports? Are these part of the Rentify solution?

[14:00] How to make sure your process remains with Fair Housing guidelines.

[15:30] Craig describes the entire flow of a prospective tenant submitting their rental application through Rentify.

[18:30] Who pays for the Rentify application screening, the tenant or the property manager?

[20:20] Craig describes the discount program Rentify offers to NARPM members.

[21:00] Craig shares a personal story about his grandfather's success in the auto industry.

Connect with RentifyRentify Discount for NARPM Members Connect with Bob PrestonProperty Management Companies in San Diegohttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Bob Preston, host of Property Management Brainstorm, discusses the topic of relationship management in property management with Zach Williams of the Partnerships and Business Development Team at Podium. Several of the best practices in relationship management involve connecting with customers through ongoing messaging touchpoints and online reviews.

Podium is a customer messaging platform that can help property management companies achieve these ongoing touchpoints, ultimately bolstering their customer relationship management and loyalty. Zach joins Bob to tell us more about Podium and their messaging platforms.

Topics Covered

[2:15] Zach kicks things off by introducing himself and provide the quick elevator pitch about Podium.

[5:30] Bob asks Zach to explain the difference between relationship management and interaction management for property managers.

[6:20] What specifically is meant by "messaging tools"?

[8:08] Managing the messaging tools through the Podium software as a service dashboard.

[9:45] Relationship management is over the entire “customer journey” of stakeholders with your property management company.

[11:48] Getting specific: how Podium handles online chat and review management through text messaging.

[13:50] With texting as the main communication interface, can you expect a higher response rate, say compared to email or phone messages?

[17:11] Does it take additional staffing to handle the Podium platform? (ie, dedicated personnel to online chat and reviews).

[18:45] Making the cultural shift to digital communications.

[21:37] Podium's pricing and the partnership program discount for members of NARPM (National Association of Residential Property Managers).

[24:55] Zach shares a personal story.

Connect to Podiumhttps://www.podium.com/Podium Discount for NARPM Membershttps://try.podium.com/narpm/ Connect with Bob PrestonSan Diego Property Managerhttps://www.ncpropertygroup.comThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As a landlord or property manager, do you ever worry that a maintenance vendor you send to a property might not have the correct insurance coverage? Dispatching a repairman with insufficient or expired insurance could create a liability on your property management business. Further, its a big job to track all of the insurance policies from vendors to make sure they remain in compliance with your standards for coverage.

On this episode of Property Management Brainstorm, Bob discusses the topic of tracking certificates of insurance with Dave Bixler of Thimble. Dave explains a service called Certificate Manager that helps landlords and property managers make sure vendors and contractors have the right policy in place and provides for tracking Certificates of Insurance in one online location.

Topics Covered

[2:55] Dave Bixler introduces himself and Thimble.

[4:15] Why it's important to make sure that those vendors have proper insurance coverage.

[4:55] What type of insurance should a landlord and property manager make sure their vendors have in place before sending them to a property?

[8:20] What should landlords and property managers obtain as proof of insurance from a vendor or contractor and how Thimble Certificate Manager can help keep these documents organized?

[11:00] Recommended insurance levels for various types of contractor trades.

[12:45] Best practices for utilizing Certificate Manager for tracking Certificates of Insurance.

[16:15] Are certain contractor trades risker and require higher insurance limits? .

[22:30] Obtaining insurance policies for one-time vendors or contractors who may be too small to afford annual insurance policies.

[28:30] Thimble's program for members of NARPM (National Association of Residential Property Managers).

[30:00] Dave shares a personal story about how he came up with the idea for Certificate Manager.

Connect to Learn More About Small Business Insurance From ThimbleThimble Certificate Manager for NARPM Members Connect with Bob PrestonSan Diego Property Managerhttps://www.ncpropertygroup.comThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In the crowded space of the property management industry, making sure your company is standing out in the crowd is more important than ever. Tech savvy property managers are using digital media to snag single family owners with through their online presence. So, what about you? Are you putting your best foot forward with digital marketing?

On this episode of Property Management Brainstorm, Bob discusses the topic of digital marketing for property management companies with Nicki Callahan, Founder of Nest Publications. Nest Publications is a digital marketing group that is helping to drive property management business leads and revenue.

Topics Covered

[2:20] Nicki introduces herself and explains what Nest Publications is all about.

[3:40] The concept of a "digital magazine" for promoting property management companies and their rental listings.

[5:00] Nest Publications is currently servicing 8 states, hopes to be nationwide soon.

[6:15] Branding and content for the digital magazine.

[8:10] How is the digital magazine for property management companies distributed?

[13:12] Showing off the customized and branded digital magazine as a demo.

[15:30] Nicki explains the pricing model for the digital marketing plans and provides information on the special discount offered to members of NARPM.

[16:25] Tracking the metrics and KPIs of the digital marketing program.

[18:25] Nicki shares a great story about her time growing up that shaped her approach to life and business.

Connect to Nest Publications info@nestpublications.comSpecial Nest Program for NARPM Members Connect with Bob PrestonSan Diego Property Managerhttps://www.ncpropertygroup.comThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

California's Proposition 19, goes into effect on April 1, 2021, offering many protections to California home owners. If you are a California homeowner or investor, could you take advantage of the new benefits provided under this new law? Today's Five Minute Friday offers a quick summary of what Prop 19 is all about.

Senior citizens often live in homes that are no longer a fit because it may be too large or far away from loved ones or medical providers.
Severely disabled individuals might live in a residence that is no longer safe or suitable.
California wildfire victims, possibly losing everything if their home was destroyed, could have property tax hikes if they desire to move to a new home.

Because of these new advantages and if you meet any of the criteria above, this might be the time to selling your California home, even if it is a rental home or a vacation home.

Have a listen to learn more about Proposition 19. If you are interested in taking advantage of Proposition 19 by selling your rental home or buying an investment property, our real estate sales division can help!

Connect with Bob PrestonProperty Manager in San Diegohttps://www.ncpropertygroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

So far in 2021, we have been featuring new opportunities in the property management industry. One area not yet explored on the show is Real Estate Syndication. As a general definition, real estate syndication is a partnership between several investors. They combine their skills and capital to purchase and manage a property they otherwise could not afford. If you’ve got an eye for a good deal and good partners, this might be a great opportunity to explore in 2021, either as the syndicator or as an investor.

On this episode of Property Management Brainstorm, Bob discusses the topic of Real Estate Syndication with AJ Shepard of Uptown Property Management, Portland Oregon. He and his company are expanding their business by syndicating real estate, pooling money from investors to buy larger, more profitable, and more stable projects. We are excited to hear what he has to say and how he views this area of opportunity for investors and property management companies.

Topics Covered

[2:40] AJ introduces himself, his company, and how he got started in Real Estate Syndication.

[6:30] AJ gives explains the term “real estate syndication”.

[9:00] What are the possible legal and financial structures for real estate syndication arrangements?

[12:25] When identifying a real estate syndication project, what comes first, the chicken or the egg?

[16:05] Building an investor network for funding real estate syndication projects.

[17:15] Bob and AJ discuss the various steps and sequence of putting a project and deal together.

[22:10] Communicating with investors and sending a Private Placement Memorandum to present the financial structure of the project.

[23:40] AJ provides his definition of Return on Investment, Cap Rate, and Internal Rate of Return (IRR).

[28:25] As a syndicator, hiring yourself as the property management company.

[32:50] Communication and information shared by the syndicator to the investors.

[36:25] AJ shares a story of a family property located in Mexico that has been passed down through generations.

Connect to Uptown Property Management and SyndicationAJ Shepard on LinkedInConnect to the Westside Investor Network Podcast Connect with Bob PrestonProperty Manager in San Diegohttps://www.ncpropertygroup.comThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

For the listeners who know Bob and his involvement in the National Association of Real Estate Property Managers, NARPM, you will remember that he is currently the President of the California Chapter. Last week was the CALNARPM annual conference and it was quite an event! For those who were not able to attend, Bob is dedicating this week's FMF to a quick overview of the conference and provides his top takeaways. Maybe this will convince you, even if you are not in the state of California, that it is a must attend next Spring, when the conference will next be held, hopefully in person as a live event in either Palm Springs or Napa Valley.

1) Great education opportunities – The conference had nineteen speakers on various topics related to being a landlord or property manager in the state of California.

2) Accessibility and low cost of attendance - This year the conference was conducted virtually, first time ever, due to the pandemic. Because of the virtual platform, the costs were a lot lower which allowed the cost of registration and attendance to be way less than in previous years.

3) Legal updates -One thing that is always challenging in California is keeping up with new landlord and tenant laws and legislative action … ESPECIALLY during the current time of Covid 19, tenant protections, and eviction moratoriums.

4) Expert panel sharing – In addition to the great speakers, an expert panel talked about the juicy information that they learned, key nuggets and their top takeaways. This was in a sort of pro sports half-time show format and was super fun to be a part of and watch as the property management analysts deciphered the content from the workshops.

5) JP Pawlin-Fry - A big highlight of the conference was hearing our key note speaker, J. P. Pawliw-Fry. He is a psychologist and international performance coach to Olympic athletes and coaches, senior business leaders at Fortune 500 companies, and the CIA. Quite inspiring.

6) State of California representation from CAR, the DRE Auditor and FTB - This year we heard from the Chief Economist of the California Association of Realtors with insights on what to expect in 2021 in our real estate market. We also heard from the California Department of Real Estate how you should prepare in the event of an audit. Finally, we heard about all of the obligations property managers face as a tax withholding agent from the Franchise Tax Board.

All in all a great event! If you missed it, all the more reason to attend next year!

Learn more about the California State Chapter of NARPM
CALNARPM

Connect with Bob PrestonProperty Manager in San Diegohttps://www.ncpropertygroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHea

Most everyone would agree that 2020 was a challenging year for running a business, regardless of industry. For many property managers, it’s great to still be standing after all of the challenges presented from the COVID-19 pandemic. As we enter 2021, maybe in the midst of planning and goal setting for the year, there is no better time to be pondering the business opportunities available in the property management industry.

On this episode of Property Management Brainstorm, Bob discusses the topic or opportunities in property management with Brad Larsen, Broker/Owner at RentWerx in San Antonio, TX. Brad is very plugged into the industry so it's a lively discussion about some great opportunities in the industry that are ripe for the taking.

Topics Covered

[2:25] Brad introduces himself and company, RentWerx San Antonio as well as his upcoming conference PMMCON. He also shares his experience from the recent Texas freeze weather event.

[5:45] A common theme in the industry - many plans and goals got tabled in 2020 during the peak of the COVID-19 pandemic. How many property management companies are regrouping in 2021 and things we learned in 2020.

[8:30] Setting the context for discussing "opportunity" in property management.

[11:50] Bob takes Brad through a "lightening round" to get his reaction and description on some new industry buzzwords: Virtual Showings, Remote Team Members, Process Automation, Artificial Intelligence, Zero Touch Leasing.

[23:25] Overcoming resistance to change from your property management staff.

[26:30] Why home sales as a realtor is huge opportunity for most property management companies.

[29:35] Opening new property management territories - opportunity or huge challenge?

[31:45] HOA management as an opportunity in property management.

[33:40] Bob and Brad discuss in-house maintenance as a property management opportunity.

[37:15] Brad shares a personal story about the importance of accounting standards and monitoring the company books.

[41:10] Property shares the Property Management Mastermind Conference details (PMMCON) coming up May 20-22, 2021.

Connect to RentWerx San Antonio Brad Larsen on LinkedIn:https://www.linkedin.com/in/rentwerxbrad/ Learn more about PMMCON, May 20 – May 22, 2021:https://pmmcon.com/ Connect with Bob PrestonProperty Manager in San Diegohttps://www.ncpropertygroup.comThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Landlords have many responsibilities when it comes to renting their investment properties, working with their tenants, and keeping the property well maintained. On this episode of Five Minute Friday, Bob Preston provides his Top List of 8 Critical Landlord Responsibilities.

Comply with Anti-Discrimination Laws
Preparing the Lease or Rental Agreement
Make Legally Required Disclosures
Know the Rules Regarding Security Deposits
Follow Other Specific Aspects of Landlord/Tenant Law
Provide for Habitable Housing Conditions
Respect a Tenant's Right to Privacy
Don't Retaliate Against a Tenant Who Exercises a Legal Right

That is Bob's top list of responsibilities, make sure and have a listen! There are many other important aspects not covered, so if you have any questions or would like to discuss further details, don’t hesitate to reach out to Bob or contact us at North County Property Group.

Connect with BobNorth County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

How much should a landlord expect to spend keeping their home maintained? It's a common question and there are some rules of thumb and considerations owners of rental properties can keep in mind when setting aside reserves to handle unexpected reserves.

The 1% Rule: this popular rule says that 1% of the purchase price of your home should be set aside each year for ongoing maintenance. Using this logic, if your home is worth $450,000, you should set $375 a month for expected home maintenance and anticipate about $4,500 in repair costs during the year.
The Square-Foot Rule: another practical approach is to budget $1 per square foot for annual maintenance and repair costs. This rule is slightly more consistent than the 1% rule because it's directly related to the size of the home. Keep in mind, however, that market prices for contractors and building materials can vary significantly from region to region. Using this logic, if you have a 3,000 square foot home, you should set aside $250 a month or $3,000 per year in anticipation of needed maintenance.
Rent Rate Reserves Rule: This is a common sense approach for owners to set aside between 10-15% of owner distributions received for ongoing and unexpected maintenance purposes. Using this logic, if your home rents for $3,000 per month, you should be setting aside $300 - $450 a month for expected repairs.
The Blended Approach: Which rule is right for you? One way to hedge a bit is to blend the various methods. Using this logic, you would calculate all of the previous three rules of thumb (1% rule, Square foot rule, and Rent Rate rule), then average them out.

Regardless of your method for estimating annual maintenance costs, some conservative landlords might then add 10% for each factor such as age of the home, weather, overall condition, etc. It seems reasonable to me to expect an older home in harsh weather will need that extra attention to maintenance.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode, Bob discusses the evolution of the property management software market with his guest, Joe Easton, Channel Partner Account Manager, at one such solution called Rent Manager. Joe shares his views about the property management software market and about Rent Manager, which combines many features needed by property managers to run their businesses into a single integrated solution.

Topics Covered

[2:30] Bob greets Joe Easton to the show and asks him to introduce himself and product, Rent Manager.

[4:25] Where does Rent Manager fall on that spectrum of the various property management software solutions available?

[6:25] Joe describes Rent Manager's differentiation and strategic advantage from the other property management software platforms along that spectrum.

[7:50] How Rent Manager avoids feature creep and prioritizes which new features to implement.

[10:15] Joe describes the critical feature sets of the Rent Manager software and the importance of integrated communications within the platform.

[16:30] How property managers should determine the technologies to adopt within their property management company.

[20:15] Rent Manager is described as being exceptionally customizable and ideal for properties of every size. Joe explains what that means and gives examples.

[23:20] Integrating with other technology solutions within the property management software.

[28:00] Joe describes his journey from the beginning of his career to finding his dream job at Rent Manager.

[31:00] Final comments and how to get in touch with Joe and Rent Manager.

Connect to Rent Manager Joe Easton on LinkedIn:https://www.linkedin.com/in/get-to-know-joe-easton/ Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On January 28, 2021, California Governor Gavin Newsom extended the state's eviction moratorium through June 30, 2021, by signing legistlation enacting the new SB 91.

In this FMF, Bob Preston does his best to review key elements of SB 91 which combines with the previously passes AB 3088 to provide tenants with rent cap and eviction protections.

Pauses evictions for tenants with an inability to pay all or part of rent due to COVID-19 financial distress.
Establishes a State Rental Assistance Program, allocating $2.6 billion in federal rental assistance to be received by California.
The program will aid tenants most at risk with unpaid rent but will aso assist eligible property owners with 80 percent rent reimbursement for amounts owed to them within defined dates.
Prohibits landlords from selling or assigning rental debt to other creditors.
Prohibits landlords from using COVID-19 financial distress as a negative factor in screening rental applications.

View the Full State of California Press Release

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Eviction law in California has changed quite a bit over the past year, first with “just cause” legislation introduced as part of State Assembly Bill 1482, the Tenant Protection Act of 2019, and then with moratoriums introduced as part of the Governor Gavin Newsome’s state orders by signing the Covid-19 Tenant Relief Act (AB2088) into law in response to the COVID-19 pandemic. On this episode, Bob speaks with Niv Davidovich, Managing Partner at Davidovich Stein Law Group LLP, to discuss landlord/tenant law, eviction law, and squatters rights in the age of COVID-19.

Topics Covered

[2:20] Niv introduces himself and introduces the areas of his law real estate, construction, and landlord/tenant law oriented practice.

[7:00] Conditions for which a landlord in California might consider evicting their tenant and what is allowed by California law.

[9:49] What if a tenant is conducting illegal activity at the property, is that cause for eviction?

[12:00] What are the steps involved in providing California eviction notices and then filing an Unlawful Detainer?

[18:40] What is the 30-day notice of nonrenewal and the difference between a 30 or 60-day notice to vacate.

[20:55] What are squatters rights and the process for getting a squatter out of a property.

[26:20] California AB 1482 and the concept known as “just cause” in regard to tenant eviction.

[32:00] The impact of Covid-19 on financial distress of tenants and eviction protection under the DOVID-19 Tenant Relief Act (or California AB 3088).

[41:00] Will AB 3088 expire on February 1st or will California take action to extend the law given the recent surge in COVID-19 cases?

[43:08] What about the CDC eviction moratorium? Is it a factor in California landlord/tenant law?

[45:22] Niv shares a story about being thankful for the way things turned out in his life.

[48:28] Parting thoughts and how to get in touch with Davidovich Stein Law Group LLP.

Connect to Davidovich Stein Law Group LLP (818) 661-2420https://davidovichlaw.com Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We are so proud to announce that this is our 50th Five Minute Friday! When combined with our 50th full episode from last week, Property Management Brainstorm, TODAY is celebrating our 100th published podcast. Wow, our 100th episode, hard to believe but a great way to kick off our first FMF of 2021.

And what better topic for our 100th episode to tell you all that the speaker slate has been finalized and our full agenda is now available for the CALNARPM Conference, coming up on March 11-12, 2021. Register to attend today, it’s only $99, and a portion of your registration will go to support the California Wildfire Relief Fund to assist those impacted by the recent wildfires which devastated California.

Register For the CALNARPM Conference Here: https://narpmcalifornia.org/conference/

This is a must attend event which will not disappoint, especially if you are a property manager in the state of California. But, you can attend from anywhere because it is a virtual conference and tradeshow.

The recent political chaos and surge in COVID-19 has property management companies wondering “where do we go from here?”

Regardless of the size or stature of your property management business, this year’s conference theme Embracing Change: Charting New Directions in Property Management, and the content presented during the event addresses critical shifts in the property management industry.
We have a top notch expert panel ready to provide their analysis, insights, and nuggets throughout the two day event: Marc Cunningham, Brad Larson, Deb Newell, Andrew Smallwood, and Bob Preston will be sharing their thoughts and takeaways.
Two fantastic key note speakers, Bill Benjamin and Jesse Brisendine, speaking about emerging stronger after the Covid surge.
17 amazing breakout session speakers will address why you need to be aware and pay attention to the property management paradigm shifts, legal changes, and compliance requirements in the state of California.
We also have over 20 sponsors of the event who will be showing and demonstrating their property management solutions in the virtual tradeshow.

Get registered today, by doing so you will help support the California Wildfire Relief Fund, and Bob will see you online on March 11th when he kicks off the CALNARPM Conference and Tradeshow at 9 am with his opening remarks!

View the Full CALNARPM Conference Agenda

Register For the 2021 CALNARPM Conference

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We are proud to kick off 2021 with the “Best of Brainstorm”, snippets from our top guests of 2020.

Topics Covered

[3:48] Episode 42 featured Andrew Smallwood of Second Nature, who knows a lot too about why air quality is so important in rental properties.

[5:35] In Episode 44, our guest was Citizen Home Solutions, featuring Peter Hernandez. Citizen provides a concierge onboarding service for new tenants to get their utilities setup.

[7:27] Perhaps the most inspiring conversation of the year was Episode 38, with Mayor of San Diego, Todd Gloria, addressing the housing crisis and being the first person of color and openly LGBTQ to be elected Mayor of San Diego.

[10:32] A super knowledgeable person in the area of landlord-tenant law, Tracey Merrill of Kimball, Tirey, and St John, joined me for two Episodes, 37 and 40.

[12:04] A hot topic last year was “process automation”. Jordan Muela from Lead Simple joined me in Episode 47 to discuss automating property management processes.

[13:50] Diving deeper into the topic of automation of property management processes, Heather Park from RentBridge joined me in Episode 48.

[16:00] Our NARPM National President, Kellie Tollifson joined Bob on Episode 43, openly sharing some of her challenges in building her property management company.

[17:40] Discussing an innovative approach to managing Security Deposits, Episode 39 featured Casey Winter of Obligo.

[19:34] The topic on Episode 48, was accounting with Taylor Ho from APM Help. Taylor explained best practices for clean for trust accounting.

[21:45] Finally, Ethan Lieber of Latchel joined us on Episode 33. Ethan explains Service Level Agreement (SLA) in running your maintenance program and shares a fun personal story.

Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Hello Brainstormers! We are taking some time off from production during the holiday season but will be back with our normal Property Management Brainstorm programming in January 2021. Until then, happy holidays and we look forward to having you back with us in the new year!

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this Five Minute Friday, Bob discusses facing fears in our property management businesses as we head into 2021. Simply put, the issues we fear the most are the ones we most need to discuss and resolve! Are there areas of your business that need attention which you’ve been avoiding during the pandemic? What better time to focus on these items than now as we are working on our new year resolutions and 2021 business plans.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On today's FMF, Bob Preston speaks about the importance of relationship management in every business. Most of us would agree that Property Management is a “relationship business”. Imagine the number of people your team interfaces with daily in making your business successful: property owners, tenants, vendors, prospective tenants, HOAs, and more. This amounts to literally 100s of individual personalities on an ongoing basis. Bob refers to this group of people collectively as "stakeholders" and explains why he views them at the center of the company culture at North County Property Group.

Relationship management is establishing the groundwork for stakeholders to have the possible experience through their journey with your company. Make it count and you might just find you attract new business in the process!

Company Culture Chart: Company Mission, Vision, Values, Guiding Principles
Notice the stakeholders are at the center (Clients, Tenants, Vendors)
https://www.ncpropertygroup.com/about-us

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In this time of gratitude, I wanted to say thank you to all of our listeners who tune in for Property Management Brainstorm. Counting you among our listeners is something for which we are especially grateful!

This has been a trying year on all of us in property management, so, I’m also wishing you the gift of faith and hope as we gather with the family we love, the friends we cherish, and for the blessings that will come. I’m certain we will all emerge from this crazy year stronger than ever.

Warm wishes for a Happy Thanksgiving and a wonderful holiday season. Bob Preston and the production team at Property Management Brainstorm.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

What the heck is normal (or ordinary) wear and tear? This term is used in many of our states where we practice property management and is often the cause of misinterpretation, conflict, and disputes. In today's Five Minute Friday, Bob describes his "common sense" rule as it applies to determining what is normal wear and tear or what otherwise might be considered damage.

This topic is of course hugely important when determining charges to a security deposit when a tenant moves out at the termination of their lease agreement. By definition, in the State of California and according the HUD, the security deposit cannot be charged for repairing property defects or deterioration caused by normal daily life at the property. Bob offers some common sense examples and refers to a HUD document, pages 55 and 56, which can be found at this link:

https://www.hud.gov/sites/documents/HSG-06-01GHBGUID.PDF

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Bob has been addressing "process" in the past few episodes, speaking to why it is so important in property management. But what if many of those processes could be “automated”? The concept is to let technology handle your repetitive tasks. Might this allow your property management business to work smarter, not harder? In this Episode 49 of Property Management Brainstorm, Bob discusses this topic with Heather Park, Co-founder and Managing Partner at RentBridge. They will be speaking about how to bring daily aspects of property management into a system that automates day-to-day business.

Topics Covered

[2:25] Heather introduces herself and the core concept behind RentBridge.

[5:00] What is the technology behind the RentBridge platform?

[6:55] The concept can seem a bit abstract. Heather gives a concrete example of lease renewals to explain how process automation works.

[11:25] Heather explains how "tickets" work within the scenario of internal property management tasks.

[13:25] Utilizing "lagging indicators" vs. "leading indicators" in running a property management business.

[15:30] Property Management Operation System (PMOS), how it integrates with property management software, and what it does within the RentBridge platform.

[19:05] Where does a company start with automating their property management processes and how long does it take?

[23:05] Some property managers might be affraid of losing the human element when automating processes. How much is too much?

[27:10] Is there a typical profile that makes a good fit for process automation?

[29:45] Where RentBridge fits within the spectrum of available process solutions in the market.

[34:55] Heather shares a story about how she found her way into property management and how it has changed her life.

[38:45] Parting thoughts and how to get in touch with RentBridge.

Connect to RentBridge Website Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Today's Five Minute Friday poses a hypothetical questions. There is no right or wrong answer, only personal preference of how you think a property management company should be run. A lot of companies have come into our property management space offering technical solutions based on automation and artificial intelligence. The concept is a sound one, what tasks in your property management workflow can be automated? And by automate, we are talking about digitizing the process, often taking it out of human hands, and into the hands of artificial intelligence for the follow up, scheduling, and management of a task.

But how much is too much? At what point might we overengineer what could be considered relationship aspects in property management that involve human touch? Might we be putting ourselves at risk of losing that human element in what is essentially a relationship management business?

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Exciting news! The Calilfornia State Chapter of NARPM® (CALNARPM) has announced its theme and the dates of its annual conference. This will be a virtual conference, titled "Embracing Change", to be held March 11-12, 2021. Embracing change is something all property managers have had to do during COVID-19 and may need to do more than ever as we come out of the pandemic next year. We will be charting new directions in property management as we begin 2021.

Join property managers, landlords, and investors from around the State of California for networking, education, workshops, CA legislative and compliance updates, great guest speakers, and much more. At the CALNARPM Virtual Conference you will learn how to run your business successfully in the unique regulatory and challenging business environment Property Managers encounter while operating in the State of California.

Attendees from other states are also welcome! As the President of CALNARPM, I am super excited about this virtual event because it promises to be engaging, innovative, and packed with great content for charting new directions in property management! Please, join us and I hope to see you there!

There are three ways to participate in the event:

Register to attend as a NARPM member (outside CA is fine!), it’s only $99 to attend! Click Here Register Now
Be a presenter at the event, submit your proposal today, deadline is Nov 15th! Click Here to Download the Presenter Submission Form
Be a sponsor of the event and be in front of 100s of property managers, deadline is Nov 30th! Click Here for Sponsorship Opportunities

For general information about CALNARPM and our upcoming conference, you can visit our website to learn more: https://narpmcalifornia.org/conference/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Real estate brokers and property managers receive what are known as “trust funds” in the normal course of doing business. These are typically deposits and payments received and held on behalf of others, thereby creating a fiduciary responsibility to the funds owners. In our business as property managers, we must handle and account for these funds according to established legal and accounting standards within the rules and regulatory requirements of our individual states. Not being in compliance could have significant financial and legal consequences for our property management businesses. On this episode of Property Management Brainstorm, Bob Preston discusses accounting and bookkeeping for property management trust accounts with Taylor Hou, Chief Happiness Officer at APM Help. Bob and Taylor discuss the importance of keeping the books clean, what auditors would see as red flags, and how to spot irregularities and discrepancies in your property management accounting reports.

Topics Covered

[2:20] Taylor tells us about his title, Chief Happiness Officer, and how APM Help works with its clients.

[3:45] Transitioning from legacy accounting software like QuickBooks to more current property management software such as Appfolio, Buildium, or Propertyware.

[5:20] The difference between corporate accounting and property accounting (also known as trust accounting).

[7:30] Taylor explains three-way reconciliation and why it is important.

[12:30] The Broker's fiduciary responsibility pertaining to trust funds.

[14:45] Red flags and discrepancies that might indicate embezzlement within a property management company.

[21:15] New tech coming in accounting using Artificial Intelligence to identify account irregularities.

[23:00] Setting up trust accounts for different types of properties (long-term rentals, vacation-rentals, commercial properties, HOA).

[25:25] What will state real estate regulators look for during an audit of financial records?

[29:30] Taylor shares the story of how he got into accounting and bookkeeping for property managers.

[34:20] How to get in touch with Taylor and APM Help.

Connect with TaylorAPM Help
taylor@apmhelp.com
Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

The role of being a landlord comes with many financial, legal, and ethical obligations. As an owner of an investment property, time is money. There are two ways to go, managing the property yourself or hiring a property manager. On this week's Five Minute Friday, Bob poses a question to real estate investors: should you manage a rental property yourself or should you hire a property manager?

There are of course lots of questions to ask yourself and many aspects to consider. Bob covers these questions and aspects in today's episode. If you are not completely confident in handling all these items properly, then perhaps it is a good idea to consider hiring a property management company. Property management companies, like North County Property Group, have skilled teams of professionals who are specialists in handling all the nuances of renting your property and managing it properly

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In this week's Five Minute Friday, Bob reviews and gives his position/endorsement for either a "yes" or a "no" on four California Ballot Measures in the upcoming election on November 3rd, that he believes to be significant to landlords, real estate investors and owners of rental property. Bob provides his opinion from a nonpartisan, independent position, as the owner of a property management company in the State of California. Here is a summary of the ballot measures of particular interest:

Proposition 15: Tax on Commercial and Industrial Properties for Education and Local Government Funding Initiative (“Split Roll Measure”)
Bob's Position and Endorsement: "NO"Proposition 19: Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment
Bob's Position and Endorsement: "YES"Proposition 21: Local Rent Control Initiative
Bob's Position and Endorsement: "NO"Proposition 22: App-Based Drivers as Contractors and Labor Policies Initiative
Bob's Position and Endorsement: "YES"Have a listen to the episode to hear the full review and reasoning behind Bob's positions and endorsements of these significant California measures and propositions.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

What is a "process" and why do we need it as a landlord or property management company? Webster’s defines process as a series of actions or steps taken in order to achieve a particular end. All you property managers out there, sound familiar? Our daily workflow in this business requires us to follow certain steps for several reasons: legal compliance, efficiency, profitability to name just a few. Think of the activities in our jobs which need to stay streamlined: business development, owner onboarding, move-ins/outs, rent collection, evictions, and more. On today's episode, Bob discusses the need for property management processes with Jordan Muela, CEO at Lead Simple.

Topics Covered

[2:45] Jordan introduces himself, his various business ventures related to property management, and Lead Simple's new workflow solutions module to help bring process to the property management lifecycle.

[7:25] Is a process the same or different from a checklist, workflow, standard operating procedure, or system?

[9:20] Why are processes so critical in a property management company?

[12:50] A process can’t be “set it and forget it”.

[16:00] How having processes documented can help with risk management in a property management company.

[18:20] Where to property managers start in writing their processes?

[21:15] Jordan explains how the Lead Simple process solution fits in the market with its unique differentiation.

[25:35] Jordan tells the story of how he has learned to confront conflict openly and transparently in his organizations.

Connect with JordanLead Simple
jordan@leadsimple.com
Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We've been getting a lot of questions this month about the new eviction protection laws recently passed by the CDC and in California so we wanted to provide an overview to California landlords and property managers on this episode of Five Minute Friday. Full disclosure, Bob Preston, the host of the show, is NOT an attorney so this episode should not be take as legal advise. It offers only his opinions and summary, from his interpretation, as to how a landlord should handle such situations under the new law. In all cases, should you find yourself in this situation, please consult an attorney.

The California state legislature and Governor Newsom have taken action by signing the COVID-19 Tenant Relief Act (AB 3088) into law on August 31, 2020. The purpose of this update is to bring you up to speed on this new law. We will warn you, it's all pretty confusing, so we have pasted in a link to additional resources for further reference and clarification. AB 3088 continues protection for residential tenants with a financial hardship related to COVID-19 from being evicted until 2021 under certain circumstances. AB 3088 limits a landlord’s ability to evict a tenant for non-payment of rent due from March 1, 2020 to January 31, 2021 if the tenant has experienced a financial hardship related to COVID-19.

Click here to read our full blog post on this topic: COVID-19 Tenant Relief Act (AB 3088) at the North County Property Group website.

Click here for more information and resources regarding the Tenant Relief Act.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As the host of the show, Bob often gets asked about the name of his podcast, Property Management Brainstorm. That often leads to the question, is Property Management a creative business? is the business of being a landlord and managing rental properties an open landscape for brainstorming and innovation? If asked, many of our listeners would answer "no" and they would not necessarily be wrong! Many property managers are still utilizing old school ways of doing things and the same processes they’ve been operating under for years. But from Bob Preston's perspective, he says “au contraire”. Bob suggests that in this business we call property management, we are undergoing a paradigm shift, with lots of room for creative thinking, innovation, and new ways of approaching how we run our businesses. In this episode, Bob discusses the topic of creativity and innovation in property management with Nir Bashan, author of The Creator Mindset, to who offers his insights on how we can and should be embracing change and creativity in our industry.

Topics Covered

[2:50] Nir introduces himself, talks about his background as a producer, and explains what led to his book The Creator Mindset.

[6:15] Bob and Nir discuss types of creativity and the "creator mindset."

[11:15] Are we at risk of losing our creativity in the pandemic era?

[13:45] Nir asks Bob how he got into property management.

[17:20] What can we do now to inject creativity to make sure we keep it in our property management organizations in 2021?

[23:40] What are the creative things that can be added to property management that add value for clients?

[26:30] Does COVID-19 threaten the creativity in our companies or can a crisis force us to embrace creative change?

[29:10] Are creativity and innovation the same thing and what impact does technology have on both?

[30:40] The role of company culture in fostering creativity. Do we need a ping-pong table?

[42:00] New challenges to creative thinking during the Zoom era.

[44:30] Nir shares a story of embarassment and failure which spirited a positive change and new directions in his life and career.

[48:08] Nir tells us about his book The Creator Mindset

Connect with Nir Bashan
Find the book The Creator Mindset on Amazon:
https://www.amazon.com/Creator-Mindset-Secrets-Innovation-Sustainability/dp/1260460010#ace-g2342880709
Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

The Creator Mindset: 92 Tools to Unlock the Secrets to Innovation, Growth, and Sustainability

A common question we get at North County Property Group is what type of rental should I have for my investment property, long-term rental or short-term rental? Long-term rentals involve annual leasing on a home that is normally unfurnished. Short-term rentals, sometimes called vacation rentals, are homes that are furnished with all utilities and amenities provided by the owner, rented to incoming guests while on vacation. In this FMF episode, Bob offers two differing profiles of success factors pertaining to both long-term and short-term rentals. He also suggests that if you take time to calculate the overall finances of both approaches, it is very likely to come out in the wash as a 50/50 proposition.

For more information on this topic, see Bob Preston's blog post, and the property owner profile table he offers and refers to in this episode: https://www.ncpropertygroup.com/blog/long-term-or-short-term-rental.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

This episode is dedicated to property managers wanting to grow their business. Bob discusses hosting landlord seminars with Mike Connolly, Broker/Owner at East Bay Property Management of Freemont CA. Mike's company has successfully hosted landlord seminars to bolster their business development efforts and grow their rental property portfolio. Heading into the Fall of 2020, the market may be ripe for gaining new property management clients. Many self-managers of rental properties are not sure how to lease a property at tenant turnover within CDC measures for COVID-19 safety? Might landlord seminars be an approach for you to bring in new clients to your property management business?

Topics Covered

[3:25] Mike tells listeners about himself and his business at East Bay Property Management.

[7:15] Bob and Mike discuss the concept and premise of landlord seminars and why someone would want to attend.

[11:20] How frequently should landlord seminars be hosted and what is the ideal length to keep the attention of attendees?

[14:03] Mike explains his typical agenda for a landlord seminar and his “open kimono” approach to sharing everything he knows.

[15:45] Who is invited to attend and how can a property management company reach them?

[18:30] Is the market ripe for brining on new property management clients in the Fall of 2020 in the era of COVID-19?

[20:47] Take aways Mike provides to attendees upon leaving.

[24:05] If you can't beat 'em, join 'em!

[26:10] Mike tells a great story about meeting his wife and the humorous irony of where the wedding was held.

Connect with Mike ConnollyEast Bay Property Management Website
Mikes email: mike@eastbaypmc.com
Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

There are two times of the year when a functioning HVAC system is critical for a tenant in a rental property, winter time when in need of heating, and the middle of summer when cooling is necessary during hot temperatures. In this episode of Five Minute Friday, Bob explains why regular HVAC service is not only worth it, but how his company considers it a mandatory regular maintenance item. Many landlords my consider HVAC systems "out of sight, out of mind" until they break down. This sort of neglect of heating and air systems can lead to upset tenants, expensive repairs after the fact, and headaches in finding technicians to service the property during extreme weather events.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

When society emerges from the COVID-19 pandemic, will there be a paradigm shift across industires, our economy, and even how we live our lives? Might that shift create a need for us to make permanent adaptations to the way we run our property management businesses? In this Five Minute Friday, Bob Preston ponders these questions and more as he discusses what happens when the usual way of thinking is replaced by new perspectives. Of equal importance is to spot the changes as they emerge and plan for the inevitable to stay ahead of the curve and be ready when the paradigm shift occurs.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As landlords and property managers, have you ever experienced the dreaded “blackout” at your rental property when the tenant utility transfer was not handled properly? This is when you arrive to move your tenant into the home and guess what ... no power! Even worse is getting a bill a month later and discovering that the transfer never happened and you’re now being billed for tenant’s utility usage. On this episode of Property Management Brainstorm, Bob discusses the process of setting up utilities for a tenant of your rental home and making sure it happens right every time. His guest is Peter Hernandez of Citizen Home Solutions. Peter explains their concierge service for reaching out to tenants and working with with them on the phone to get all utilities established.

Topics Covered

[2:30] Peter Hernandez introduces himself and describes the services provided by Citizen Home Solutions.

[5:50] What is "concierge utility service"?.

[8:25] The tenant experience when setting up utilities through Citizen Home Solutions.

[11:45] Matching the tenant with the right utility services in their geographic area.

[15:30] What happens when the utility provider requires an application, deposit, or in person visit?.

[23:50] Benefits of the Citizen Home Solutions service to the property management company and landlord.

[28:30] What is required from the property manager or landlord to get the process started for the tenant?

[32:30] Peter shares the story of the Property Management Health group on Facebook and what it has done for his own personal health.

Connect with Citizen Home SolutionsCitizen Home Solutions Website- If you connect with them, tell them you were referred by Property Management Brainstorm! Connect with BobNorth County Property Group Resources MentionedFree eBook:Bob Preston’s eBook, Best Practices for Renting Your Home, is offered as a free download on the North County Property Group website, find it here as a free download! https://www.ncpropertygroup.com/ebook

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

We are starting to see them everywhere, “smart devices" installed for home automation. These devices might include thermostats, doorbells, home security cameras, lighting, appliance monitoring and more. Homes are becoming more efficient, secure and convenient. So is it something that makes sense for your rental homes as property manager or landlord?

On this Five Minute Friday, Bob discusses the factors that should be considered, including benefits and drawbacks, before installing smart devices in your home. Some tenants, for example, may love the idea of living in a smart home. Others may find it too “big brother” like if they think the landlord is eavesdropping or monitoring their lifestyle. Which is right for your rental home or property management company? It is a great topic to get on the table, so here we go, have a listen.

Here also is the link to a great episode about home automation, featuring Sean Miller of Point Central, definitely worth listening to this episode too: Episode 27: Gaining Efficiencies Through Property Automation, Featuring Sean Miller of PointCentral

TGIF, keep the faith, and we will catch you next Friday!

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In FMF #36, Bob speaks to the importance of open communication as a landlord and property manager. This is true with all of our stakeholders: tenants, maintenance vendors, and property owners. One question Bob hears a lot from new San Diego Property Management prospective clients is: Will you keep me informed throughout the rental listing process? You see, they want to know what is going on! We’ve heard a lot of stories of property management companies taking on new clients, never to be heard from again unless the client reaches out and makes a connection.

Bob explains that at North County Property Group, they believe this is completely unacceptable and one of the reasons they provide an exclusive and value added service to property owners called the Listing Tracker Dashboard!

On a weekly basis, North County Property Group sends a Listing Tracker report to each of their clients with a rental listing that is currently active, vacant and listed with the company. This graphical report provides their clients with insights into the overall interest level in the property from a market perspective: number of leads received, how many of those inquires have had contact with our team, the number of showings which were scheduled, rental applications received, etc.

It might be worth considering launching something like Listing Tracker at your property management company!

TGIF, keep the faith, and we will catch you next Friday!

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode of Property Management Brainstorm, the focus is what it takes to build and grow a property management business from the ground up AND the importance of the support provided by our National Association of Residential Property Managers, otherwise known as NARPM (N-A-R-P-M). Bob Preston discusses these topics with his guest, Kellie Tollifson, owner of T-Square Properties in King and Snohomish Counties of Washington State, which she has grown from the ground up. Kellie is also the national president of NARPM so brings a terrific perspective to both discussion topics.

Topics Covered

[2:25] Kellie Tollifson describes her journey in building her property management business.

[6:10] Hurdles and challenges Kellie experienced along the way in her career.

[8:40:] Guiding principles as an essential fabric in building a property management company.

[14:28] About NARPM and why it is a tremendous resource from property managers.

[22:45] Why networking opportunities available through NARPM as so important to the property management industry.

[30:08] The importance of local and state chapters within the NARPM structure.

[36:42] Plans for the 2020 National NARPM Conference and Tradeshow, October 19–22, 2020, Amelia Island, Fernandina Beach, FL.

[39:00] PM Leadership XChange, a virtual event planned for August 24 - 25, 2020, co-sponsored/hosted by Second Nature, NARPM, and Rent Bridge.

[42:15] Kellie shares personal story about overcoming some of her fears on her career journey by challenging herself with a tandem skydive jump out of a plane.

Connect with Kellie at T-Square PropertiesT-Square Website Connect with Kellie at NARPMhttps://www.narpm.org/

Learn More about PM Leadership XChange, August 24 - 25, 2020An experiential leadership event featuring exciting new speakers!
HOSTED by SECOND NATURE, NARPM, and RENT BRIDGE
https://www.pm-xchange.com/

Connect with BobNorth County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In this week's FMF, Bob discusses one of the challenges he had in the early days of his company with the delegation of authority … the process of transferring responsibility for a task to another employee. When working in a small company, finding the time to properly offload an aspect of the business to another person, and more importantly trusting that aspect to another person can sometimes be nerve wracking! There are many excuses for it, like: “It takes too long to train them. It’s quicker to just do it myself.” As the company has grown over the 20 years of it's history, Bob has grown personally too in becoming a better delegator. Simply put, without delegation you will never be able to make the organization possible.

Bob further explains what he has learned about delegation through the Entrepreneurial Operating System (EOS) which he has adopted at North County Property Group. Here are the simple steps:

Make a list of all the things you do with your time, tasks if you will
Put each of those tasks in one of four quadrants:
1. Love to do it / Great at it
2. Like to do it / Good at it
3. Don’t like it / but Good at it
4. Don’t like it / Not Good at it
Now look at the last two quadrants and delegate those things you don’t like and aren’t good at

If you follow this simple exercise, once per calendar quarter, you will allow you yourself as a leader to have the energy for all of those things you are great at and love to do. And there is a bonus .... productivity will go up throughout the entire company, you will have a better culture, and you will no longer be a bottleneck.

TGIF, keep the faith, and we will catch you next Friday!

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Built to Last. These are three simple words that communicate a powerful punch. It is actually the name of a a book written by James Collins and Jerry Porras in 1994. Bob explains how he was given the book 25 years ago by his boss at the time, Bill Krause, who had been an executive at HP and was the CEO of the start up where Bob was working in Silicon Valley. Bob still has the book to this day and the words “Built to Last” still resonate with he applies them to his property management business.

In this episode of Five Minute Friday, Bob describes his journey of jumping off the Silicon Valley treadmill as the Chief Marketing Officer of a public company to return to San Diego to be closer to his family and forming his property management company, North County Property Group. The core principles from "Built to Last" are still being used by Bob today as he has grown his business from a strong foundation of core values he learned 25 years ago in Silicon Valley.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode of Property Management Brainstorm, Bob discusses home wellness as an essential part of healthy living with Andrew Smallwood, Director of Sales at Second Nature. One aspect of home wellness and healthy living is regularly changing filters on heating and air systems (HVAC) for improved air quality within a rental home. Second Nature, provides an easy and automatic way to get the right air filters for your rental properties and to get the air filters changed on time, every time. Doing so can be especially important for property managers and landlords in keeping the HVAC systems in rental properties well maintained.

Topics Covered

[2:15] Andrew Smallwood introduces himself and what he does for Second Nature.

[4:10] Finding and changing air filters - why can this be a hassle for property managers and landlords?

[9:25] Is there a regional aspect to the frequency and need for changing air filters?

[13:45] Why is air quality in a home so important and what are the pollutants that we may breath in within a home?

[16:05] Does air filtration help indoor air quality relative to protection against COVID – 19?

[19:10] Are there home automation aspects through smart home devices pertaining to HVAC air filters?

[23:10] How does a property management company implement an air filter program with Second Nature?

[24:40] Andrew shares information about the upcoming PM Leadership XChange, a virtual event planned for August 24 - 25, 2020, co-sponsored/hosted by Second Nature, NARPM, and Rent Bridge.

[29:50] Andrew tells a cool personal story about radical generosity.

Connect with Second NatureSecond Nature Website

Learn More about PM Leadership XChange, August 24 - 25, 2020An experiential leadership event featuring exciting new speakers!
HOSTED by SECOND NATURE, NARPM, and RENT BRIDGE
https://www.pm-xchange.com/

Connect with BobNorth County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this week's FMF, Bob shares some fun news about his personal involvement in the industry association, the National Association of Residential Property Managers, also referred to as NARPM. Bob has taken office as President of the California State Chapter of NARPM, known as CALNARPM, for the 2020-2021 term. Bob shares his thoughts about CalNARPM, the other people involved on the leadership team, and the CALNARPM State Conference and Tradeshow scheduled for March 31 - April 2, 2021.

The CALNARPM Leadership Team for 2020 - 2021:

Bob Preston, President, North County Property Group (ncpropertygroup.com)
Bob Davie, Treasurer, San Diego Residential Property Management (sandiegorpm.com)
Donna Gary, Secretary, Progressive Property Management Service (ppmdavis.com)
Mark Scott, Past President, Encore Realty (encorerealtysd.com)
Anne Lackey, Affiliates Director, Hiresmart Virtual Employees (hiresmartvirtualemployees.com)
Ally Kubarych, Communications Committee Chair (ncpropertygroup.com)

Call for Nominations is Still Open!

CALNARPM is still looking for some great California Property Managers to help round out our board and leadership team. If you feel a calling to get involved at the state level, email to CalNARPM at info@narpmcalifornia.org. Specifically, we are taking nominations (self nomination is OK) for these volunteer positions:

Conference Committee Chair
Education/Speaker Committee Chair
President Elect for next year’s term

We need the involvement of some great California property managers, could that be you?

CALNARPM State Conference and Trade Show, March 31-April 2, 2021

Each year, 200+ California property management professionals join our annual conference and trade show to learn best practices, legislative updates, and connect with vendors offering unique solutions within the property management industry. While we are hoping for a live and in-person event, we are of course monitoring what is going on with the COVID-19 pandemic and considering the possibility of a virtual event. Either way, there WILL BE a California State Conference for NARPM. For more information: https://narpmcalifornia.org/conference/

If you are not located in California, there are local and regional NARPM chapters throughout the USA, just visit NARPM.org to learn more.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Hello Brainstormers! Wishing you all a very happy and safe 4th of July holiday. I'm taking a pause in broadcasting for a month or so while I'm on vacation during the first half of July. Property Management Brainstorm full episodes and Five Minute Fridays will back be back on the air with great content again as of early August, 2020.

Thank you so much for subscribing, listening and supporting Property Management Brainstorm! We will catch you soon in early August!
Bob Preston, podcast host.

In this episode 31 of Five Minute Friday, Bob shares with his listeners one of the most common questions he gets from prospective clients: are we locked into a long-term property management contract? The answer is and has been, for the 20-year history of his company, an emphatic "no". Bob calls this his Satisfaction Guarantee. If for whatever reason a client is not satisfied, they can discontinue North County Property Group's services at any time on 30-day notice.

Bob further explains that from his perspective, life is too short to be in business relationships with people who are angry or disatisfied. Besides, it rarely happens that an owner wants to cancel and it is a competive advantage when bringing on new clients, especially when the property owner is coming from another property management company he has already fired. This cancellation policy holds Bob and his staff to what he calls an "SLA", or service level agreement to keep owners and tenants happy.

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

Bob continues a series of podcast episodes dedicated to the topic of security deposits. For most landlords, security deposits continue to be a highly challenging aspect of leasing rental properties. Laws are changing, tenant move-in costs can be prohibitive, and security deposit deductions can often lead to conflict. Bob discusses these challenges with Derek Merrill, Co-founder and CEO at LeaseLock, a company promising to eliminate the need for security deposits.

Topics Covered

[2:20] Introduction to Derek Merrill, LeaseLock and the concept of "zero deposits" through their Lease Insurance products.

[8:00] Landlord/tenant laws having an impact on alternative approaches to security deposits..

[12:00] Are flexible financial aspects of leasing here to stay due to COVID-19 pandemic?

[16:15] Derek explains the competitive differentiation of Lease Insurance when compared to surety bonds and other solutions.

[21:00] The process of filing claims through LeaseLock is discussed as opposed to deducting charges from security deposits.

[24:35] Derek describes a full scenario of how Lease Insurance works from start to finish during the course of a tenant's lease.

[34:00] Derek shares a story about the mission for LeaseLock and the positive impact they are having on tenants who are in need of financial assistance in obtaining a rental property.

[37:40] Final words on what the new generation will demand in terms of the speed and ease of leasing a rental property.

Connect with Derek MerrillLeaseLock Website
Email: derek@leaselock.com

Connect with BobNorth County Property Group

Resources MentionedSquare:You can do a lot with Square: accept credit cards, power your business with a free point-of-sale app, get real-time sales reports, and much more. All this with no sign-up costs or long-term contracts.Plus, your first $1,000 in credit card transactions are processed free when you sign up by clicking through on this link: Try Square for free today!

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

What is corporate responsibility and why is it important? In episode #30 of FMF, Bob explains why he believes in the concept of corporate responsibility for his business as a property management company at North County Property Group. The objective is simple ... be accountable for our actions to our stakeholders and local communities.

During the current times of COVID-19, Bob explains how North County Property Group began to rethink its philanthropic pledging as part of their corporate responsibility program. The company decided to start its own direct giving fund called NCPG Cares for the benefit of tenants in need of assistance due to financial hardship during the Coronavirus pandemic. Have a listen to learn more about NCPG Cares and how the company makes a contribution each time a new property is added to their San Diego property management portfolio.

Connect with Bob

North County Property Group

Learn More About NCPG Caresncpgcares@ncpropertygroup.com

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On this week's FMF, Bob discusses the lingering impact of COVID-19 on tenants who have suffered a job loss, decreased work hours, medical expenses, or other loss of income. Many laws and local ordinances have been implemented to protect tenants with eviction moratoria if they have had financial impact due to the coronavirus. There have been no laws established, however, which give tenants a free pass or restrict a landlord from recovering rent at a future time. As landlords and property managers, what then should we do?

Bob gives an overview of what he considers to be the two primary options: rent forbearance and early lease termination. He explains each and provides the pros and cons of the two approaches as solutions for tenants with financial impact from coronavirus.

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode, Bob discusses legislative updates in 2019 and 2020 that impact California landlords with Tracey Merrell, Managing Attorney of Education, at Kimball, Tirey & St.John (KTS). Along with other updates, Tracey provides a thorough review of the Tenant Protection Act of 2019 (AB 1482) which imposes rent caps and just cause eviction restrictions for residential rental property throughout California.

For advice with specific issues, please contact an attorney. Legislative updates discussed are not exhaustive and the interpretation of the laws may change.

Topics Covered

[3:00] This episode is within the context of CA landlord/tenant law.

[6:10] Tracey reviews the Tenant Protection Act of 2019 (AB 1482) pertaining to Rent Caps and Just Cause.

[20:10] Tracey explains the notice required for rent increases over 10 percent (AB 1110).

[22:25] Temporary roommate situations to persons at risk of homelessness are now a law under AB 1188.

[29:20] AB 2343 changes 3-day notices in the way that the days are counted.

[32:50] Under SB 234, is a landlord required to rent to the owner of a day care who wants to run the business out of the rental home?

[37:20] Proposition 65 warnings regarding materials and chemicals that may be present in the rental home.

Connect with TraceyKimbell, Tirey, St. John LLP
Email:info@kts-law.com

Connect with Bob

North County Property Group

Resources Mentioned

Free eBook:Bob Preston’s new eBook, Best Practices for Renting Your Home, find it here as a free download! https://www.ncpropertygroup.com/ebook

Links to the various legislative updates:
AB 1482
AB 1110
AB 1188
AB 2343
SB 234
SB 644

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Buzzsprout - Let's get your podcast launched!
Start for FREE

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On this week's FMF, Bob discusses the concept of lagging indicators and considers if there might be a maintenance surge coming for those of us managing rental properties. As a quick definition, a lagging indicator is a data point that tells you what has already happened. Most of us in managing our rental properties focus on lagging indicators in the form of financial statements to track rent collected, revenue, bank balance, and profitability.

Bob explains that a lagging indicator he has been watching lately is the number of worker orders (maintenance requests) being received monthly. His company tracks this, along with other data points, on a monthly report that is produced by our accounting department. Maintenance request volume has been trending down starting in February and continuing down by 20-30% in March, April, and May. This is an interesting anomaly but it is logical to assume that the service issues aren’t disappearing… they are waiting to be submitted.

He encourages listeners to be prepared for what could be a surge of maintenance requests in the coming months. Assuming things start to return to normal this summer or fall, you can assume your maintenance team will be working hard to catch up to bring your properties current. Bob also describes some methods he has implemented at North County Property Group to get ahead of the curve. Check those lagging indicators and make a prediction to be ready for increased maintenance requests in the second half of the year.

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this week's FMF, Bob makes a fun announcement that he is now an RMP! Some of you may be wondering, what the heck is that? Those listeners who are property management members of NARPM likely already know. RMP stands for Residential Management Professional, a designation awarded by the National Association of Residential Property Managers.

The RMP designation is earned and awarded to individuals who successfully pass through an application process to document their of years of property management experience, NARPM and industry education, and service to the association through volunteer activities. Bob also explains that he is continuing his learning and leadership to the next level and has applied for the next designation level called the MPM (Master Property Manager)!

Bob also announces a new leadership role, having accepted the nomination as “president elect” for Cal NARPM, the California State Chapter for NARPM. More to come on Bob and his involvement at the state level when Bob takes office as President of Cal NARPM in July 2020.

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

As a landlord or property manager, have you ever wondered what it would be like to rid yourself of the need for security deposits? For most landlords, security deposits are one of the most challenging aspects of managing a rental property. It can be conflict laden at the end of a lease and in most states there are rigid regulations and laws which must be followed on when and how the deposit needs to be returned to the tenant. On this episode, Bob's guest is Casey Winter, Vice President of Partnerships at Obligo, a company which provides a way for people like us, landlords and property managers, to rid ourselves from the burden of security deposits.

Topics Covered

[2:35] Casey tells us about himself and what Obligo is all about.

[4:45] Bob and Casey discuss the pros and cons of insurance solutions and surety bond products for replacing security deposits.

[9:15] Open banking technology and how it helps Obligo provide their "deposit free" leasing solution.

[13:00] What are the costs, who pays, and are there processing fees?

[15:45] Casey explains why most tenants are eager to participate in their deposit free program.

[17:50] Bob asks Casey to take listeners through a start-to-finish scenario of how Obligo works and the associated workflow for tenants and landlords.

[21:15] How Obligo qualifies a tenant for participation in the deposit fee program.

[23:45] Why Obligo reduces the burden of move-in costs for a tenant.

[29:15] Where is Obligo offered and in which states is it available?

[36:15] Casey shares his thought on weathering the storm during the COVID-19 pandemic and emerging stronger when we come out on the other end.

Connect with CaseyObligo website

Connect with Bob

North County Property Group

Sponsor

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On this week's FMF, Bob explains why he believes it's a mistake to not acknowledge the COVID-19 pandemic on a company website. Call it reality marketing. He further offers his rationale for placing a pop-up on the North County Property Group home page to communicate available resources which may be helpful to their stakeholders. Here is a copy:

As the COVID-19 crisis continues to have an impact on our stakeholders (tenants, rental applicants, property owners, and maintenance vendors) North County Property Group has never been more aware of our purpose and responsibilities related to property management.

As we get through this pandemic together, here are some resources which may be helpful to our NCPG stakeholders:

Virtual Tours of Property Listings: Narrated tour videos and 3D/360 degree digital tours to allow for viewing our property listings virtually.

Direct Cash Payments:You may be eligible for up to $1,200 for individuals, $2,400 for married couples, and $500 for each child through the CARES Act:

Unemployment Insurance:Benefit amounts have increased for those impacted by the COVID-19 pandemic.

California COVID-19 Website: State of California website, including resources to apply for unemployment, disability benefits, and paid family

Centers for Disease Control and Prevention: Visit the CDC website to stay informed on preventing COVID-19.

County of San Diego Department of Environmental Health:frequently asked questions and guidance for residents of San Diego County.

2-1-1 San Diego:24/7 hotline providing up-to-date Coronavirus information and resources.

Rent Forbearance Requests: If you are an NCPG tenant and have suffered a job loss, accrued medical expenses, or other substantial loss of income specific to COVID-19, and are unable to pay future rent for these reasons, please click on this link to download our COVID-19 Rent Forbearance Request Form.

We are fully operational and working diligently, every day, to exceed stakeholder expectations during this unprecedented time.

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

In the State of California and many cities throughout the country, including right here in San Diego, a housing crisis has emerged in which many citizens have become homeless or live in substandard housing. Simply put, housing that people can afford may now be more out of reach than ever. On this episode, Bob discusses the housing crisis with California State Assemblymember Todd Gloria. Assemblymember Gloria is also running for Mayor of San Diego, on the ballot in the November 2020 election.

Topics Covered

[2:30] Todd introduces himself and talks about his journey toward a career in San Diego and State of California public service.

[6:00] Bob and Todd discuss the 60 Minutes segment about the housing and homeless crisis in Seattle and how it compares to what is going on in San Diego.

[8:00] Caring for the homeless during the COVID-19 pandemic.

[15:00] New housing development needed to keep up with population growth in California.

[17:55] The CASA Act and other Assembly Bills championed by Todd to prioritize affordable housing..

[26:00] Tackling the housing crisis in San Diego.

[30:45] The Tenant Protection Act - Rent Caps and AB 1482.

[33:00] Vacation Rentals and the need for regulation in San Diego.

[37:10] The budget shortfall facing San Diego and how Todd will manage it if elected Mayor.

[39:30] Todd comments on being the first LGBTQ and person of color if elected as Mayor of California.

Connect with ToddTodd Gloria for San Diego MayorAssemblymember Todd Gloria District 78
Email: c a m p a i g n @ t o d d g l o r i a . c o m

Connect with Bob

North County Property Group

ResourcesTackling Our Housing Crisis - By Todd Gloria

Episode Transcript

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Last week on FMF Bob talked about being the Lighthouse, a metaphor for being a strong leader to guide your team during times of crisis like this current Covid-19 pandemic. On this week's FMF, he pleads with you to not be the opposite of being the lighthouse. Don’t be a weenie!

Weenies are whimps, lack resolve, and avoid tough decisions. If this is you and you are a self-managing landlord, it may be time to consider hiring a property management company. For all of us in this industry of real estate investing, owning rental homes, being a landlord, or property management, I firmly believe that those who take the time now to streamline and restructure the way they are doing things will emerge at the end of all of this stronger than ever. You must have the willingness to make tough decisions you’ve never made before. You can do it! The solutions are often simple, their just not always easy to implement.

Here is a tip: Build a Start/Stop/Continue list. On a piece of paper, create three columns, and at the top of the first column write “Start”, the second column write “Stop”, and in the third column write “Continue”. Now list your various policies, procedures, company practices in the appropriate column and respond accordingly moving forward.

Topics Covered

[0:55] Bob explains what he means when he says "don't be a weenie".

[1:20] During this critical time, your stakeholders need to hear from you!

[2:00] Willingness to make tough decisions.

[2:15] Those who streamline now will emerge stronger at the end of the pandemic.

[2:30] Examples of "no-touch" property management processes.

[3:25] Flip the switch to change when a new normal is emerging anyway.

[3:47] Build a Start/Stop/Continue list to help gain clarity on things which need to change.

Connect with Bob

North County Property Group

ResourcesStart/Stop/Continue Tutorial

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Our listeners have been eager to hear the latest updates on being a landlord during the COVID-19 pandemic. On this episode, Bob discusses this topic with Tracey Merrell, Managing Attorney of Education, at Kimball, Tirey & St.John (KTS), a law firm with a practice in California residential landlord/tenant law.

Comments made for this broadcast are for general information purposes only and is not intended as legal advice. Participation in the podcast will not create an attorney-client relationship between the listener and Tracey Merrell or with Kimball Tirey and St. John. For advice with specific issues, please contact an attorney. Discussions of the new legislative updates are not exhaustive and are potentially fluid situations and the interpretation of the laws may change as they have been recently passed.

Topics Covered

[2:55] The episode is within the context of California landlord/tenant law.

[3:55] Introduction to Tracey Merrell, her background, and position at KTS.

[4:45] KTS risk management disclaimer.

[6:10] Governor Gavin Newsome’s Executive orders N-28-20 and N-37-20 regarding moratorium on evictions during the COVID-19 pandemic.

[10:15] Stipulations for tenants seeking rent forbearance and eviction protection.

[13:15] Can landlords negotiate with tenants claiming COVID-19 hardship on a rent repayment plan?

[17:30] California Judicial Council adopted Emergency Rule 1.

[21:08] California State Assembly Bill 1828.

[24:10] Preventing price gouging during a California State of Emergency.

[28:30] Tracey shares some great advice on how to treat people with respect and empathy.

Connect with TraceyKimbell, Tirey, St. John LLP
Email:info@kts-law.com

Connect with Bob

North County Property Group

Resources

Free eBook:Bob Preston’s new eBook, Best Practices for Renting Your Home, is a free download, find it here as a free download! https://www.ncpropertygroup.com/ebook

Episode Transcript

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This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.

On this episode of Five Minute Friday, Bob shares the story of key decision making at North County Property Group in adapting the company to telecommuting, new workflows, technology for virtual tours, self-showings, and more during the COVID-19 pandemic. Most of the changes were proactively made as early as March 13, 2020, six days before California Governor Gavin Newsom issued the first statewide stay-at-home orders in the country to establish consistency to slow the spread of COVID-19. It has now been seven weeks of shelter-in-place, in a fluid and unprecedented time, during which the company had its opportunity to “Be the Lighthouse”.

Topics Covered

[1:00] Bob describes the company's Friday staff meetings before the pandemic and previously using consensus in decision making.

[1:30] How things quickly changed, requiring decisiveness to focus on the greater good for the safety and health of the company's stakeholders.

[1:54] Bob explains what he means by "Be the Lighthouse".

[2:50] The importance of staying ahead of the curve in response to the COVID-19 crisis.

[3:50] What Bob communicated and expected from each of his staff members.

[5:21] What Bob has learned over the past seven weeks.

[5:35] Be the Lighthouse to help your team navigate back to solid ground.

Connect with Bob

North County Property Group

ResourcesStaying Focused Checklist

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One of the most common water related incidents at rental properties is leaking or failing water heater. There has never been a time when hot water might be more essential, with all of us on stay-at-home orders, than during the COVID-19 pandemic. A failing water heater is a huge inconvenience to the homeowner or tenant who has to live without hot water for some period of time.

Scott Costa represents a company that specialized in one thing ... Water Heaters Only know a thing or two about the topic. On this episode, Bob and Scott discuss why water heaters fail, what are the signs to look for when a water heater needs to be replaced, what the options are for selecting a water heater, and the new California building codes related to water heater installation.

Topics Covered

[3:20] Scott's background and intro to Water Heaters Only

[4:45] Getting a water heater 24/7/365

[6:30] Keeping hygienic and sanitization practices during COVID-19 pandemic

[9:20] Why do water heaters fail?

[11:10] Building codes in California and San Diego pertaining to water heaters

[17:25] Why do water heaters cost so much more than they used to?

[19:00] Circumstances which might favor installing a tankless water heater

[26:05] The Emergency Shutdown Instruction Sticker on the front of the water heater

[28:13] Signs that a water heater might be starting to fail

[31:00] Recommended regular service and maintenance for water heaters

[32:35] Potential danger of carbon monoxide emissions

[34:30] Scott shares some great feel-good success stories

Connect with ScottWater Heaters Only

1-800-833-4571

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

ResourcesEpisode Transcript

Free eBook:Bob Preston’s new eBook, Best Practices for Renting Your Home, is a free download, find it here as a free download! https://www.ncpropertygroup.com/ebook

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This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and

Property Management Brainstorm had temporarily paused producing the show, taking a brief hiatus, during the peak of the COVID-19 pandemic. There is so much to catch up on and we are pleased to let you know we are back in production!

On this episode, Bob explains the reasons for taking a break with the podcast and what changes his team has made in the meantime during the COVID-19 pandemic to stay focused on managing their properties while keeping their staff and tenants safe and healthy.

Topics Covered

[1:35] Bob announces Property Mangement Brainstorm will reinstitute production of the show starting today!

[2:40] The reasons why Property Management Brainstrom was paused during COVID-19.

[4:15] Adjusting to working remotely as a property management team and how North County Property Group has stayed connected.

[5:15] Precautions taken in the daily workflow during the COVID-19 pandemic.

Virtual team meetings
Working with vendors on essential property maintenance items using CDC guidelines
Adjustments made in showing properties to prospective tenants
Utilizing 3D virtual tours to show properties remotely
Adopting self-showing technology and lockboxes
Using PPE and scheduling santizing cleaning

[9:25 ] Coming next week: communicating with tenants and owners about challenges in rent payments, rent forbearance, and moratoriums on eviction.

Connect with Bob

North County Property Group

Resources

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

We’re all feeling uncertainty around the mounting COVID-19 health crisis. And what serves as a best practice today may change tomorrow.

On this episode, Bob shares his decision to temporarily suspend production of Property Management Brainstorm in light of the Coronavirus pandemic. He discusses the daily changes in processes and mindset adjustments required of landlords and property managers during this unprecedented time.

Bob goes on to explain the possibility that he will do an occasional check-in regarding current events or news related to the industry while production is suspended. Listen in for Bob’s thoughts on staying safe and healthy in the coming weeks and find out when he plans to be back on the air with another episode of the Property Management Brainstorm show!

Topics Covered

[0:53] The uncertainty we’re all feeling around the mounting COVOID-19 health crisis

[1:12] How the Coronavirus pandemic requires daily changes in processes and mindset adjustments for us as landlords and property managers

[1:24 ] What’s behind Bob’s decision to temporarily suspend production of the Property Management Brainstorm show

[1:50] When Bob plans to be back on the air with new episodes

[1:58] The possibility that Bob will do an occasional check-in regarding current events or news related to the industry

[2:03 ] Bob’s appreciation for Property Management Brainstorm listeners and hope that you’ll stay safe and healthy in the coming weeks

Connect with Bob

North County Property Group

Resources

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

The Coronavirus pandemic is on everyone’s mind right now. So, what can we do as landlords to protect the health and safety of our staff, property owners, tenants and vendors?

On this episode of Five Minute Friday, Bob explains how the North County Property Group team is staying on top of our job responsibilities through a remote work setup and what you can do to reach us if need be. He discusses the precautions NCPG is taking when it comes to fulfilling maintenance requests and performing inspections during the COVID-19 health crisis.

Bob goes on to share how NCPG is adjusting our showing policies for active rental listings, introducing us to the idea of a Rent Ready Date and explaining why we are suspending Open Houses for the time being. Listen in for insight around the potential for rent relief initiatives and eviction restrictions—and learn what NCPG is doing to ensure the health and safety of our stakeholders during this unprecedented time.

Topics Covered

[0:42] North County Property Group’s commitment to the health and safety of our stakeholders

[1:26] Why we’re adjusting the NCPG work environment and taking extra precautions at our rental properties

[1:48] How the NCPG team is staying on top of our job responsibilities through a remote work setup

[2:14] How the NCPG staff can be reached and what we are doing when a face-to-face meeting is required

[2:48] How NCPG is handling maintenance requests and inspections during the health crisis

[3:26] NCPG’s decision to adjust our showing policies for active rental listings and why we’re not scheduling showings until a property is vacant and professionally cleaned

[3:49] What we are doing to serve prospective tenants prior to a property’s Rent Ready Date

[4:12] Why NCPG is suspending Open Houses and encouraging property owners with active listings to opt in for self-showings

[4:29] The additional steps we are taking to provide sanitizing supplies at property showings and arrange for periodic sanitizing touch-ups

[4:53] The potential for consumer rent relief initiatives and eviction restrictions in light of the pandemic

[5:25] The need for caution during this unprecedented time

Connect with Bob

North County Property Group

Resources

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

If you’re an individual, self-managing landlord or you manage a small portfolio of rentals, what is your best option when it comes to property management software?

Dave Spooner is the Cofounder of Innago, a free property management software platform designed to help small, independent landlords manage their rentals. Today, Dave joins Bob to explain what differentiates Innago from other platforms in terms of being intuitive and easy to use, yet flexible enough to allow for growth.

Dave discusses what his team does to attract their target clients and walks us through the five pillars of Innago feature set. Listen in to understand what the Innago user interface looks like for tenants versus landlords and learn how the software helps property managers level up their professionalism.

Topics Covered

[2:51] Dave’s background in SaaS startups and what inspired the creation of Innago

[4:35] Why Dave’s team refers to their product as ‘tenant management software’

[5:27] Where Innago fits on the spectrum of property management software

[12:31] What differentiates Innago from other platforms in terms of scalability and support

[14:59] Innago’s commitment to avoid feature creep

[19:17] What Dave and his team learned from their market research and how that influenced their approach with Innago

[21:41] What the Innago team does to attract its target market (landlords in the one to 100 property range)

[23:17] How Innago helps property managers raise their level of professionalism

[25:10] What the Innago user interface looks like for tenants, landlords and sub-users (e.g.: property owners, maintenance staff, etc.)

[27:13] The five pillars of the Innago feature set and what the team is adding in the near future

[28:45] Some of the unique landlords who utilize the Innago system

Connect with Dave

Innago

Email dave@innago.com

(513) 543-0759

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

Resources

Transcript of this Episode 34

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If you enlist the help of a property management company to manage your rental, you may be curious how rent is collected from the tenant and then forwarded to your bank account.

On this episode of Five Minute Friday, Bob walks us through North County Property Group’s best practices around the flow of funds in a rental property. He explains when rent is due and where it’s deposited, discussing how NCPG tracks incoming rent payments and why his team offers tenants a five-day grace period.

Bob goes on to introduce us to the Tenant Portal, an online platform where NCPG renters pay by eCheck or credit card, and describe what happens if rent is not paid within the five-day grace period. Listen in to understand how the accounting department pays vendors the first week of the month and sends property owners a monthly statement in parallel with their distribution deposit.

Topics Covered

[0:44] North County Property Group’s best practices around the flow of funds in a rental property

[1:11] When rent is due and where it’s deposited

[1:34] How NCPG tracks incoming rent payments

[1:52] Why Bob’s team uses the California Association of Realtors five-day grace period and what they do if rent is not paid by the third of the month

[2:40] How most NCPG renters pay online through the Tenant Portal by eCheck or credit card

[3:49] What happens if rent is not received within the five-day grace period

[4:29] The accounting department’s role in paying vendors and regular monthly bills (e.g.: HOA dues, pool service, etc.) the first week of each month

[4:56] How the owner distribution deposit happens in parallel with the property owner receiving their monthly statement

[5:30] NCPG’s commitment to completing owner distribution by the 10th of the month

Connect with Bob

North County Property Group

Resources

Three-Day Notice to Pay or Quit

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Placing a new tenant in a rental property seems simple enough. But the fact is, there are A LOT of moving parts at play from the time a property is listed until the tenant moves in and starts paying rent. So, what does the tenant placement process look like?

On this episode of Five Minute Friday, Bob walks us through North County Property Group’s proven tenant placement process. He discusses the importance of creating an effective marketing plan and property listing for each rental and explains how his team responds to prospective tenant leads and schedules showings.

Bob goes on to share how prospects submit their rental application and supporting documents online and what NCPG does to screen each applicant (and their pets!). Listen in to understand the process of drafting the lease, securing the rental deposit and first month’s rent, and meeting the tenant for a move-in inspection and key exchange—and learn how NCPG follows fair housing guidelines throughout the tenant placement process.

Topics Covered

[0:42] The complexity of the tenant placement process

[1:03] North County Property Group’s proven and reliable process for quality tenant placement

[1:18] Creating an effective marketing plan and property listing for each rental

[1:40] How Bob’s team responds to prospective tenant leads and schedules showings

[2:33] How prospects submit their rental application and supporting documents online + what NCPG does to screen each applicant

[3:24] NCPG’s partnership with PetScreening.com for a separate pet and service animal screening process

[3:58] The process of drafting the lease, obtaining the rental deposit and first month’s rent, and meeting the tenant for a move-in inspection and key exchange

[4:21] NCPG’s commitment to following fair housing guidelines

[4:43] A summary of NCPG’s tenant placement process

Connect with Bob

North County Property Group

Resources

North County Property Group Marketing Process Video

Pet Screening

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

What could you accomplish if you never had to take another maintenance call?

Ethan Lieber is the CEO of Latchel, a real estate platform that helps property managers streamline their maintenance workflow. Today, Ethan joins Bob to explain how Latchel leverages the Amazon model of crafting measurable, transparent Service Level Agreements (SLAs) to ensure customer satisfaction and discuss the common themes across SLAs for tenants, property owners and service providers.

Ethan walks us through the maintenance workflow in Latchel, describing how their system plugs into a property management company’s existing processes and what they do to notify a property management team in case of emergency. Listen in to understand what information is available through the Latchel online portal and find out how Ethan’s team can take maintenance operations off your plate—so you can focus on growth!

Topics Covered

[2:39] The Latchel origin story and how the service streamlines your maintenance workflow

[6:55] How Latchel leverages the Amazon model of crafting measurable, transparent Service Level Agreements

[10:19] The common themes among SLAs for tenants, property owners and vendors

[12:34] What the maintenance workflow looks like in Latchel and how it changes based on an issue’s level of urgency

[18:57] How Latchel plugs into a property management company’s existing processes

[21:30] The real-time notification system Latchel uses to notify a property management team in case of emergency

[22:48] The information available through the Latchel online portal + how property managers can prioritize vendors through the software

[24:35] The three Latchel subscription levels

[30:57] Ethan’s challenge around overcoming fear to 10X your current performance

Connect with Ethan

Latchel

Email ethan@latchel.com

Ethan on LinkedIn

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

ResourcesTranscript of this Episode 33

California NARPM

Rent Manager

Propertyware

AppFolio

Sponsor

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Are you struggling to find a property manager you can trust? Perhaps the best way to find a reliable team that provides top-notch service is to look for a property management company that provides its clients with certain guarantees.

On this episode of Five Minute Friday, Bob walks us through the guarantees North County Property Group offers all its clients, including a Satisfaction, Pet and Performance Guarantee, explaining why his team doesn’t take any money from property owners until a tenant has moved in and rent is collected.

Bob goes on to discuss the additional guarantees NCPG affords its Premium Program clients, describing their 30-Day Rental Guarantee, Tenant Default Assurance and 12-Month Tenant Guarantee. Listen in for insight around how Bob’s team handles the rare occasions when renters seek early termination of a lease and learn why it’s crucial to find a property manager who backs their promises with guarantees.

Topics Covered

[0:44] How Bob’s struggle to find a trustworthy property manager led him to self-manage his own investment properties

[1:18] Why North County Property Group offers its clients several guarantees

[1:59] NCPG’s Satisfaction Guarantee and penalty-free cancellation (with 30-day notice)

[2:24] The details of NCPG’s Performance Guarantee and why Bob’s team doesn’t take any money from property owners until they produce results

[2:53] How NCPG pays for damages beyond normal wear and tear caused by approved pets (up to $2,500)

[3:36] The additional guarantees NCPG offers as part of its Premium Program

[3:47] NCPG’s 30-Day Rental Guarantee for Premium Program clients

[4:15] NCPG’s 12-Month Tenant Guarantee and what Bob’s team does when renters seek early termination

[4:56] The most common reasons why a tenant might default on their rent + the Tenant Default Assurance NCPG offers its Premium Program clients

Connect with Bob

North County Property Group

Resources

North County Property Group Guarantees Page

Pet Screening

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

The security deposit disposition, if not documented properly, has the potential to be highly contentious. So, what can we do to make the process run smoothly? And who, exactly, is responsible for performing the move-in/move-out inspections, itemizing necessary deductions, and returning the tenant’s remaining funds?

On this episode of Five Minute Friday, Bob discusses who facilitates the security deposit disposition process, explaining why North County Property Group takes responsibility for identifying items to be repaired and refunding the tenant’s remaining deposit.

Bob describes how the property’s condition is assessed and documented on a move-in/move-out or MIMO form when the tenant moves in and again at move-out, sharing what NCPG charges to a tenant’s security deposit and how long they have to send the former renter their remaining funds. Listen in for insight on documenting the security deposit disposition process properly to mitigate the risk of ending up in court.

Topics Covered

[0:39] Why North County Property Group facilitates the security deposit disposition process for its clients

[1:15] The detail-oriented nature of the security deposit disposition process

[1:54] How NCPG documents the move-in inspection and where the tenant’s security deposit is held

[2:39] The tenant’s right to a pre-move-out inspection during the final month of occupancy

[3:14] When the NCPG performs the move out inspection + what is charged to the tenant’s security deposit

[3:38] How long landlords in California have to itemize deductions and send the tenant their remaining security deposit funds

[3:52] The potential for the security deposit disposition process to be highly contentious + how to mitigate the risk of ending up in court

Connect with Bob

North County Property Group

Resources

Allowable Security Deposit Deductions on FMF #1

Bob’s Blog ‘Clear and Hazy: What Can Be Charged?’

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

Being a landlord may sound simple, but there is more to it than just running an ad, getting a great tenant and collecting a monthly check. So, what are the financial, legal and ethical obligations around managing a rental property? And how can you avoid the most common mistakes landlords make?

Today on Property Management Brainstorm, Bob is flying solo to walk us through the top ten mistakes made by landlords. He explains why it’s crucial to view your rental property as a business, understand the financial implications of renting your property, and maintain adequate records.

Bob discusses a landlord’s responsibilities around legal compliance, deferred maintenance and proper insurance and shares how to set a realistic rent rate, market your property and respond to inquiries. Listen in for insight on establishing a consistent tenant screening process and weigh the pros and cons of self-managing your rental versus hiring a property manager.

Topics Covered

[2:27] Bob’s 20 years of experience consulting with prospective and existing landlords

[3:19] Why it’s crucial to view your rental property as a business + what questions to ask yourself before becoming a landlord

[4:34] Understanding the financial implications of owning a rental property

[5:20] A landlord’s responsibilities around federal, state and local legal compliance

[6:23] Maintaining adequate documentation and record keeping

[8:23] The two types of insurance policies required for a rental property

[11:13] How to set a realistic rent rate for your property

[12:45] Marketing a rental property + responding to inquiries

[14:08] Establishing a consistent tenant screening process

[15:38] Bob’s advice on having a sufficient lease agreement

[16:28] Responding to tenant requests and setting aside reserves for deferred maintenance

[17:49] The pros and cons of self-managing a rental vs. hiring a property manager

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

Resources

Episode Transcript

California Civil Code: Hiring of Real Property

US Fair Housing Code

NCPG Rental Criteria

Reach Bob and his team through the North County Property Group ‘Contact Us’ page: https://www.ncpropertygroup.com/contact.

The new eBook, Best Practices for Renting Your Home, is offered as a free download on the North County Property Group website at https://www.ncpropertygroup.com/ebook!

Sponsor

Reduce hassle and improve your operating income through smart property automation and connected devices from PointCentral. Click on this link to learn more and get a free HVAC analytics test when you place your first order! www.pointcentral.com/brainstorm/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify

The prevailing attitude among real estate investors is that all property management companies are much the same, so potential clients often ask, “What makes North County Property Group different?” or, “Why should we hire you?”

On this episode of Five Minute Friday, Bob discusses some of NCPG’s differentiators, including their expertise in the high-end rental market and dedication to thorough tenant screening. He explains the team’s commitment to a set of guiding principles and ethics, sharing the Entrepreneurial Operating System (EOS) model they use to strive for continuous improvement.

Bob goes on to describe North County Property Group’s practice of communicating with clients weekly via what they call a Listing Tracker. Listen in for insight around NCPG’s proficiency in selling a property with tenants in possession and learn what sets Bob’s team apart in terms of superior online reviews and corporate social responsibility.

Topics Covered

[0:40] The prevailing opinion that all property management companies are alike and why NCPG likes the question, “What makes you different?”

[1:15] How running on EOS helps NCPG commit to a set of guiding principles and strive for continuous improvement

[1:43] NCPG’s expertise in the high-end of the San Diego rental market and what that demonstrates in terms of our trustworthiness and comfort working with HNWIs

[2:28] NCPG’s dedication to tenant screening and above-average credit score for renters

[2:59] NCPG’s system of communicating with clients during the listing process via a weekly report

[3:32] NCPG’s superior online reviews and expertise in selling properties with tenants in possession

[3:53] Why Bob is most proud of NCPG’s dedication to corporate responsibility

Connect with Bob

North County Property Group

Resources

Five Minute Friday #13: Running on EOS

Five Minute Friday #14: Selling a Home with Tenants in Possession

NCCPG’s Corporate Responsibility Program

NCPG’s About Us Page

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

At North County Property Group, about 25% of our portfolio are furnished short-term rental (STR) units. Clients with vacation homes in the San Diego area enjoy the cashflow that comes from renting out their furnished property when they aren’t using it, but we encourage owners to think carefully about what personal belongings to remove from the unit when guests are using the space.

On this episode of Five Minute Friday, Bob offers an overview of how short-term rentals work, explaining how the properties are furnished by the owners, marketed on online travel sites, and occupied for short stays by visitors to the area.

Bob goes on to discuss the risks associated with leaving belongings of financial or sentimental value in a vacation rental and the normal wear and tear that comes from having renters in and out of a STR space. Listen in for insight on deciding what personal belongings should be removed or made available during guest stays and learn how owners can secure expensive and irreplaceable items in a home when they are away.

Topics Covered

[0:40] North County Property Group’s portfolio of short-term or vacation rentals

[1:06] How STR properties are furnished by the owner and marketed on online travel sites like Airbnb

[1:35] The pros and cons of short-term rentals for property owners

[1:55] Deciding what personal belongings should be removed or made available during guest stays

[2:17] The personal belongings that the NCPG team sees on in-house meetings with prospective STR clients (e.g.: family photos, art, figurines and fine china)

[2:44] The differing points of view around displaying family photos in a vacation rental

[3:27] Why we recommend either removing personal items of financial or sentimental value or securing them in a locker or locked closet

[4:06] The risks associated with leaving belongings in the home for renters to use and NCPG’s policy re: the damage or theft of personal items

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

It’s easy for business owners to get caught up in the day-to-day and forget the visionary aspect of their job as leaders. But how do you build in time to work ON, not IN your business?

Terry Ogburn is the founder of Ogburn’s Business Solutions, a consultancy that helps small businesses improve the bottom line. Today, he joins Bob to explain how he supports business owners in developing a vision for the future and designing a plan to reach their goals.

Terry offers advice on taking time to reflect at the end of each day and shares the top four habits of successful business leaders. Listen in for insight on empowering your team to make mistakes and learn how to set up systems for working ON, rather than IN your business.

Topics Covered

[2:56] Terry’s mission to help businesses grow

[3:29] The most common pitfalls for business owners

[4:47] How fear can keep us working IN, rather than ON our business

[6:23] How Terry helps business owners reach their goals

[7:42] A leader’s role in helping employees grow and understand the vision for the company

[10:01] Empowering your team to make mistakes

[13:03] Terry’s take on joy as a key ingredient of success

[15:37] Why it’s crucial for business owners to reflect at the end of each day

[17:14] The four habits of successful business owners

[21:18] Why business leaders need to embrace technology

[22:11] Leveraging neurolinguistic programming to build rapport with different people

[23:59] Terry’s story of the one decision that turned his business around

Connect with Terry

Ogburn’s Business Solutions

Terry’s Website

Call (727) 422-4771

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

Resources

Episode Transcript

Crossing the Chasm by Geoffrey A. Moore

The 7 Habits of Highly Effective People by Stephen R. Covey

Neurolinguistic Programming

The new eBook, Best Practices for Renting Your Home, is offered as a free download on the North County Property Group website at https://www.ncpropertygroup.com/ebook!

Sponsor

Seacoast Commerce Bank specializes in business banking for property managers, ensuring that your accounts are set up to meet compliance standards, so your company and clients’ funds are properly protected.https://sccombank.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Crossing the Chasm, 3rd Edition: Marketing and Selling Disruptive Products to Mainstream Customers

What happens if a tenant stops paying rent? The headache of dealing with a renter who defaults on their lease agreement keeps some investors out of the real estate rental market altogether. So, what can property owners do to manage the risk of tenant default?

On this edition of Five Minute Friday, Bob explains what happens when a tenant defaults on their lease agreement and how a professional property manager can help property owners navigate the process. He walks us through some common scenarios when life circumstances change for tenants and how North County Property Group works to relist the property and secure a new qualified tenant.

Bob also shares the protections NCPG offers its Premium Level clients, including Rent Assurance and eviction cost coverage. Listen in for insight on working through the unlawful detainer process required to evict a tenant in the State of California and learn how to mitigate the risks associated with tenant default.

Topics Covered

[0:41] The worries that keep some real estate investors out of the rental market

[1:10] What happens when a tenant stops paying rent and how a professional property manager can help you navigate the process

[1:46] How life circumstances can change for tenants and why North County Property Group offers its clients a 12-month lease guarantee

[2:43] The work NCPG does to find new tenants when renters are relocated or lose their jobs

[3:25] The protections NCPG offers its Premium Level clients should a tenant default on their lease agreement

[4:10] The caveats around NCPG’s Rent Assurance protection

[4:33] Why NCPG has never had an eviction in one of its properties + the plan they have in place should an eviction become necessary

[5:14] The unlawful detainer process required to evict a tenant in the State of California

Connect with Bob

North County Property Group

Resources Mentioned

State of California Eviction Process Flowchart

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

Most real estate investors don’t realize that they can sell a property even when it is occupied by a tenant. In the state of California, this is known as selling with Tenants in Possession, or TIP.

On this edition of Five Minute Friday, Bob shares North County Property Group’s expertise in TIP, explaining how to keep tenants and buyers informed throughout the process and document the tenant’s right to possession via the Tenant Estoppel Certificate.

Bob discusses the mistakes uninformed listing agents can make in handling TIP transactions and describes North County’s advantage in having an ongoing relationship with the tenants involved. Listen in for insight around North County Property Group’s considerable experience leading the successful TIP sale of a property.

Topics Covered

[0:40] The concept of selling a property with Tenants in Possession (TIP)

[1:10] North County Property Group’s expertise in selling homes with TIP + the specific steps required by the California Department of Real Estate

[1:37] The mistakes uninformed listing agents can make in handling TIP transactions

[2:25] The value of North County’s ongoing relationship with tenants in the listing and selling process

[2:53] Documenting the tenant’s right to possession through the Tenant Estoppel Certificate

[3:23] North County’s experience leading the cooperative effort around the TIP sale of a property

Connect with Bob

North County Property Group

Resources Mentioned

California Department of Real Estate

California Association of Realtors Tenant Estoppel Certificate

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

How do property owners know they’re hiring a qualified property management company that operates within a clear set of standards? The best way is to look for members of the National Association of Residential Property Managers, or NARPM.

Eric Wetherington served as the 2019 National President of NARPM. Today, he joins Bob to discuss the educational opportunities available to members of the organization, explaining who establishes its curriculum and what national, state and local events are open to members.

Listen in for Eric’s insight around the legislative influence NARPM has developed and learn how YOU can benefit from the Code of Ethics and spirit of sharing unique to the NARPM community!

Topics Covered

[2:52] Eric’s background in property management and introduction to NARPM

[4:11] Eric’s experience serving as President of NARPM in 2019 + his role in the organization in 2020

[7:05] Why it’s important for property owners to hire NARPM members as property managers

[9:16] The educational opportunities available to NARPM members

[10:12] An overview of the three NARPM national conferences + state and local events

[15:03] The top three professional designations in NARPM and how members can earn them

[17:55] The legislative influence NARPM has developed through its PAC and lobbying groups

[21:11] The NARPM Code of Ethics

[24:42] Who establishes the professional development curriculum for NARPM

[25:36] The distinction between NARPM and IREM

[26:27] The benefits of being a NARPM member + the spirit of sharing unique to the NARPM community

[30:37] The leadership opportunities available to NARPM members

[32:33] Eric’s call-to-action for real estate investors and property managers

Connect with Eric

NARPM

NARPM on Facebook

Eric’s Profile at NARPM

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

Resources

Episode Transcript

Daymond John

Anna Maria Farías at HUD

The new eBook, Best Practices for Renting Your Home, is offered as a free download on the North County Property Group website at https://www.ncpropertygroup.com/ebook!

Sponsor

PointCentral helps you reduce hassle and improve your operating income through smart property automation and connected devices. Click on this link to learn more and get a free HVAC analytics test when you place your first order! https://www.pointcentral.com/brainstorm/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Most business owners and entrepreneurs want to build a best-in-class company. But in the daily grind of running a business, it’s easy to lose sight of the vision you’re trying to achieve. At North County Property Group, we leverage the Entrepreneurial Operating System (EOS) to facilitate continuous improvement and become a better organization—each and every day.

On this edition of Five Minute Friday, Bob shares the EOS model many business owners and entrepreneurs use to grow and improve. He explains how adopting the process has helped his team focus on the right things and keep them accountable to their goals.

Bob walks us through each of the six key components of the EOS model, describing how his team evaluates themselves in the areas of vision, people, data, issues, process and traction. Listen in for insight around the value of quarterly goal setting and learn how the EOS system is helping Bob lead a top-performing company.

Topics Covered

[0:49] The EOS model for business owners and entrepreneurs

[1:12] How adopting EOS has impacted Bob’s business

[1:38] The objective of EOS + how it helps you build a best-in-class business

[2:01] The six key areas of evaluation in the EOS model

[3:27] How North County Property Group has had success with goal setting + how we measure our success

[4:02] Bob’s take on how EOS has helped him become a better leader

Connect with Bob

North County Property Group

Resources Mentioned

EOS Worldwide

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

Different generations of people have distinct values, lifestyles and communication preferences. And as property managers, we need to understand the perspectives of each group and adapt accordingly to best serve the tenants in our rental properties.

On this edition of Five Minute Friday, Bob walks us through the five generations a landlord or property manager might interact with, from Traditionalists to Generation Z, explaining why it’s crucial for us to recognize and accommodate generational differences.

Bob shares the characteristics of Traditionalists, Baby Boomers and Gen Xers, discussing why each group might be looking for a rental property and how they differ in terms of communication preferences. Listen in for insight around marketing to Millennials or Generation Z and learn how life experiences influence what a tenant is looking for in a rental property.

Topics Covered

[0:43] Why it’s crucial for a landlord to understand generational differences

[1:19] An overview of the five major generational groupings

[2:07] The characteristics of a Traditionalist and why they might be looking for a rental property

[2:31] What to expect from Baby Boomers in terms of communication preferences

[3:23] The attributes of Gen Xers and when they might be in the market for a rental property

[3:53] What differentiates Millennials and what to consider in marketing rental properties to this generation

[4:34] How Generation Z has grown up using mobile devices and how that impacts the way they communicate

[5:21] Bob’s insight on the life experiences of each generation and how that influences what they’re looking for in a rental property + how they prefer to communicate

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

Because the landlord verification process is so cumbersome, a surprising number of landlords and property managers take it lightly—or don’t bother with it at all! But what if there was a quick and easy way to verify a prospective tenant’s rental history?

Sherry McKillop is the Chief Operating Officer at LandLord Verification Online. Today, she joins Bob to explain why it’s crucial to complete a thorough landlord verification and walk us through the process of using her team’s service.

Listen in to understand what’s included in LandLord Verification Online’s 14-item questionnaire for past landlords, how the team addresses Fair Housing concerns, and what insights a receiving landlord can glean from the LLVO report.

Topics Covered

[2:26] How Sherry’s experience with poor tenants inspired LandLord Verification Online

[5:16] The turnaround time for landlord responses with Sherry’s service

[6:05] The process of using LandLord Verification Online

[8:30] The 14 fact-based questions landlords answer + how they certify that the information is accurate

[11:25] The turnaround time for landlord verification the old-fashioned way

[13:19] Why so many landlords and property managers don’t complete a thorough landlord verification

[14:33] How revealing landlord verification can be in learning about an applicant

[17:35] How to avoid Fair Housing concerns in the landlord verification process

[18:34] How LLVO handles unresponsive landlords

[21:10] What LLVO does to ensure that landlord references are legitimate

[24:38] How Sherry’s team generated the 14-item questionnaire

[27:13] How LLVO is available to individual landlords and property management companies

[28:50] The correlation between verification reports and the tenant experience

[30:18] Why it’s risky to rely solely on a prospective tenant’s credit score

[31:36] Sherry’s personal story about her dad and Dictionary Safari

[34:27] The benefits of using LandLord Verification Online

Connect with Sherry

LandLord Verification Online

LandLord Verification FAQs

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

Resources

Episode Transcript

Sponsors

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This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

As with any earnings, the rental income a property owner brings in must be reported to the IRS. So, what do property managers and homeowners need to know about reporting rental income and expenses on their federal and state tax returns?

On this edition of Five Minute Friday, Bob offers an overview of the tax implications of owning a rental property. He describes the landlord or property manager’s role in keeping accurate records, discussing the most common methods for tracking income and expenses and explaining what information is included on the 1099 North County Property Group submits to both the property owner and the IRS.

Bob weighs in on why the gross rental income listed on the 1099 differs from the total of owner distributions and walks us through the most common landlord deductions. Listen in to understand California’s requirements for out-of-state property owners and learn how an accountant uses the information provided by a property manager to prepare the owner’s federal and state returns.

Topics Covered

[1:02] The landlord or property manager’s role in keeping accurate records and supporting documentation for a rental property

[1:17] The most common methods for tracking income and expenses

[1:55] Submitting a 1099 that reflects gross rental income to both the property owner and the IRS

[2:14] Why the gross rental income listed on a 1099 doesn’t match the total of owner distributions

[2:41] Providing a year-end owner statement in parallel with the 1099

[2:50] How an accountant translates this information to the property owner’s federal tax return

[3:03] Why most landlords file a Schedule E as part of their Federal 1040 Tax Return

[3:27] The most common landlord deductions

[4:06] The importance of saving receipts associated with landlord deductions

[4:11] Leveraging a tax-deferred 1031 Exchange to purchase additional properties

[4:37] California’s requirement for out-of-state owners to submit 7% of rent collected to the California Franchise Tax Board

[4:59] Why out-of-state property owners receive both a 1099 and 592-B

[5:16] The tax preparers responsibilities around the California State Return

[5:24] Bob’s advice on consulting with a professional tax advisor

Connect with Bob

North County Property Group

Resources Mentioned

Microsoft Excel

Quicken

Quickbooks

Federal Tax Forms

California State Tax Forms

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

So, you’ve shown a property and collected applications from prospective tenants. Though you may have a gut instinct around who is the best fit, it’s critical that you put ALL potential renters through a consistent screening process. What does that look like?

On this edition of Five Minute Friday, Bob walks us through the process of establishing a set of criteria for screening prospective tenants. He shares North County Property Group’s published guidelines, discussing what questions to consider in terms of income requirements, proof of income and minimum credit score as you set your screening standards.

Bob goes on to address what considerations to make around previous evictions, bankruptcy, negative landlord references and pet restrictions. Listen in for insight into North County’s digital application process and automated screening for criminal record, credit and eviction history—and learn how we work with property owners to select the most qualified tenants for a given property!

Topics Covered

[1:09] Why it’s crucial to have a published set of criteria for screening prospective tenants

[1:32] Developing a screening process to determine if an applicant is a match

[1:46] North County Property Group’s rental criteria

[2:15] Bob’s advice on placing the Fair Housing Statement front and center on your application criteria

[2:25] Questions to consider re: income requirements and proof of income before setting your screening criteria

[3:13] Determining the minimum credit score that will qualify under your rental criteria

[3:57] Considerations around previous evictions, bankruptcy, negative landlord references and pets

[4:25] Establishing a process for completing a rental application (i.e.: paper or digital)

[4:47] North County’s automated screening for criminal record, credit and eviction history

[5:02] Checking with previous landlords for rental references as well as verifying employment and cash reserves

[5:17] How North County works with owners to select the most qualified applicant for a given property

Connect with Bob

North County Property Group

Resources Mentioned

North County Property Group Rental Criteria

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

As part of our commitment to give back to the community, North County Property Group has forged a partnership with the local affiliate of Habitat for Humanity to provide safe, affordable housing for hardworking families in San Diego County.

Bridget Strickland is the Corporate Partnership Manager for San Diego Habitat for Humanity. Today, she joins Bob to explain how the organization provides home ownership opportunities for low-income families, walking us through the process of qualifying for the program and the sweat equity hours required of Habitat homeowners.

Bridget describes how long it usually takes to complete a project, the size of a typical Habitat home, and the locations where the organization has built affordable housing in San Diego County. Listen in for insight around San Diego Habitat’s Neighborhood Revitalization initiative and learn how you can get involved by volunteering in any of Habitat’s locations around the world.

Topics Covered

[3:55] What inspired Bridget to join San Diego Habitat for Humanity

[4:56] The guiding principle of Habitat for Humanity

[6:46] How the organization creates home ownership opportunities for San Diego families

[7:45] How Habitat families agree to contribute sweat equity hours

[8:40] The process of qualifying to buy a home through Habitat

[11:15] How long it usually takes to complete a Habitat project

[11:55] The typical size of a Habitat home + how they integrate into the community

[12:29] The locations in San Diego County where Habitat has built affordable housing

[13:04] The global scope of Habitat for Humanity

[15:27] Volunteer opportunities at San Diego Habitat

[16:55] The history of San Diego Habitat + how it’s affiliated with the international organization

[17:35] San Diego Habitat’s Neighborhood Revitalization initiative

[23:03] How Bridget’s experience nearly losing her home informs her work

Connect with Bridget

San Diego Habitat for Humanity

San Diego Habitat FAQs

Connect with Bob

North County Property Group

Email info@ncpropertygroup.com

Resources Mentioned

Episode Transcript

North County Corporate Responsibility Program

San Diego Habitat ReStore Locations

San Diego Habitat Volunteer Hub

Habitat for Humanity International

San Diego Habitat Neighborhood Revitalization

Bob’s new eBook, Best Practices for Renting Your Home, is available as a FREE download on the North County Property Group website at https://www.ncpropertygroup.com/ebook.

Sponsor

Get 10% off all orders at Shelving.com with coupon NORTHCOUNTY or at the link below through 12/31/19. Let Shelving.com rack your world! https://www.gopjn.com/t/SUNIR0hORklDSEZGSU5MQ0dLSUlNSQ

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and

When a new tenant moves in on the 15th of the month, it is only fair to prorate the rent—charging them only for the number days they occupy the unit. But there is a downside to charging a partial month’s rent at move-in. So, what’s the best approach to proration? How can we be fair to our tenants and meet our own financial obligations?

On this episode of Five Minute Friday, Bob explains the standard practice of prorating the rent when a tenant moves in mid-month and shares an example of how prorated rent is calculated. He discusses how the first month proration system works and why it may leave you short as a landlord.

Bob goes on to introduce us to second month proration, explaining what tenants pay in the first, second and subsequent months under this policy and how it provides assurance that the tenant can afford a full month rent payment. Listen in to understand when a landlord might require both first and last month’s rent at move-in and learn which system we use here at North County Property Group!

Topics Covered

[0:39] The standard practice of prorating the rent rate for partial months

[1:09] How prorated rent is calculated

[1:34] How the 1st month proration system works

[1:46] Why the 1st month proration system may NOT be a good idea

[2:21] The 2nd month proration method

[2:29] What the tenant pays at move-in under the 2nd month proration system

[2:48] What the tenant pays in the 2nd month under the 2nd month proration system

[3:11] The special situations when a landlord might require both 1st and last month’s rent as well as a security deposit

[4:03] The benefit of using a 2nd month proration system

[4:37] Why North County Property Group prefers the 2nd month proration system

Connect with Bob

North County Property Group

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

What does it mean to get a property ‘rent ready’? Are we talking a fresh coat of paint? Replacing the carpet? New appliances? There are a number of things we can do to ensure a property shows well and puts its best foot forward, so to speak.

On this episode of Five Minute Friday, Bob explains what it means to make a property rent ready, describing the repairs, cleaning, deferred maintenance and upgrades that can make a rental more attractive to prospective tenants.

Bob goes on to discuss North County Property Group’s general contracting arm, sharing the benefit to having a database of reliable vendors and subcontractors. Listen in for Bob’s advice to homeowners renting a property for the first time and learn how to make a property safe, secure, livable—and rent ready!

Topics Covered

[0:38] What it means for a property to be rent ready

[0:49] The problem with listing homes as ‘coming soon’ for too long

[1:01] Doing repairs, cleaning and deferred maintenance to make a property rent ready

[1:12] Examples of common upgrades that make a rental attractive to prospective tenants

[1:29] Where to go for more information about adding value to a property with smart home devices or automation technology

[1:44] North County Property Group’s general contracting arm and maintenance company, MaintenanceSync

[1:19] North County’s extensive list of vendors and subcontractors

[1:56] Examples of the various tradespeople you might need to help get a property rent ready

[2:30] How North County serves as the project manager on rent ready work for its properties

[2:39] How owners benefit from a property management team that does its own general contracting work (and vice versa)

[3:03] Bob’s advice for homeowners renting their property for the first time

[3:28] The idea of a stabilization period when new tenants raise concerns over things homeowners had learned to live with

Connect with Bob

North County Property Group

Resources Mentioned

Sean Miller on PMB EP0027

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

What if you could predict a maintenance issue before it turned into an emergency? Property automation technology gives us the data to catch problems early on and be proactive—before a water heater leak turns into a flooded home!

Sean Miller is the CEO of PointCentral, the leading IoT platform for residential property managers. On this episode, Sean joins Bob to discuss the most common property automation devices, including smart locks, video doorbells and voice assistants.

Sean introduces several of PointCentral’s hardware partners and describes how its technology benefits property managers, owners and tenants alike. Listen in for a high-level overview of PointCentral’s in-home hub and learn how you can drive operational efficiency via property automation.

Topics Covered

[2:50] How PointCentral helps property managers leverage IoT

[5:43] The difference between smart home technology and property automation

[6:48] The devices that fall into the category of property automation

[8:12] How PointCentral integrates with the Amazon, Apple and Google voice assistants

[9:55] PointCentral’s hardware partners and when the company builds its own

[11:57] Who PointCentral works with + how its technology benefits property managers

[14:48] How PointCentral benefits tenants

[17:47] How PointCentral benefits owners

[20:27] How PointCentral helps property managers prevent maintenance emergencies and improve efficiency

[23:26] An overview of PointCentral’s in-home hub + how it integrates with property management software

[28:16] The privacy concerns associated with video

[32:53] How PointCentral’s technology helps property managers do more of what they like

Connect with Sean

PointCentral

Connect with Bob

North County Property Group

Resources MentionedEpisode Transcript

Tenant Turner

Linear Smart Garage Door

Chamberlain Smart Products

Rachio Smart Sprinklers

SkyBell Video Doorbell

California Consumer Privacy Act

The new eBook, Best Practices for Renting Your Home, has been recently published by Bob Preston and is offered as a free download on the North County Property Group website. Find it at this weblink and download for free! https://www.ncpropertygroup.com/ebook

Sponsor

Get 10% off all orders at Shelving.com with coupon NORTHCOUNTY or at the link below through 12/31/19. Let Shelving.com rack your world!
Shelving.com/NORTHCOUNTY coupon link

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Yes, property owners want to maximize their rental income. But if you set the monthly rent too high and the unit stays empty, no one generates any revenue at all! So, how do you decide on a monthly rental rate that keeps the property owner happy AND competes in the local market?

On this episode of Five Minute Friday, Bob explains the importance of correctly setting the monthly rental rate for a property. He discusses how the real estate market is influenced by supply and demand, location, amenities, and seasonality, offering insight around using ‘market comparatives’ to determine the rental rate for a given property.

Bob goes on to share how sites like Zillow have made prospective renters savvy to fair market value, what that means for property owners, and how North County collaborates with owners to set the monthly rental rate for a property. Listen in to understand how time of year impacts the monthly rental rate and learn how to adjust the rental rate if a property is not generating significant interest.

Topics Covered

[0:00] Why the monthly rental rate is one of the most important decisions to make about a rental property

[0:10] How the market ultimately decides the monthly rental rate

[0:18] How the real estate market fluctuates based on supply, demand, location, amenities and seasonality

[0:32] Using ‘comps’ as a benchmark to set the rental rate for a property

[0:54] How prospective renters have become savvy to fair market value + what that means for owners

[1:19] How North County Property Group collaborates with owners to set the monthly rental rate for a property

[1:34] What to consider if a nearby rental is set at a lower monthly rate

[1:54] How time of year impacts the monthly rental rate

[2:25] How the response we get to a listing in the first week tells us if we’ve set the rent rate correctly

[2:42] How North County initiates rent reductions if a property is not generating interest

Connect with Bob

North County Property Group

Resources Mentioned

Zillow Zestimate Tool

Best Practices for Renting Your Home: Learn the Pitfalls and Safety Nets from a Pro can be found at https://www.ncpropertygroup.com/ebook.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

The idea of generating passive income through a rental property sounds pretty terrific. But the reality is, being a landlord is not as passive as you might think. Renting your home is equivalent to running a business, and there are a number of responsibilities that come with it. So, what do you need to consider before becoming a landlord? And what are the best practices for renting your home?

On this episode of Five Minute Friday, Bob walks us through the main topics covered in his new eBook, Best Practices for Renting Your Home: Learn the Pitfalls and Safety Nets from a Pro. He explains why NOW is an attractive time for real estate investors to enter the rental market, describing how a rental property has the potential to both generate cashflow and appreciate in value.

Bob goes on to cover the many obligations and responsibilities of being a landlord in terms of compliance, maintenance, record keeping, insurance and 24/7 responsiveness. Listen in for insight around what questions to ask yourself before renting your home and learn how a property manager can help you enjoy the benefits of being a landlord—without having to answer tenant complaints at 3am!

Topics Covered

[0:46] How to access Bob’s new eBook, Best Practices for Renting Your Home: Learn the Pitfalls and Safety Nets from a Pro

[1:28] Why now is an attractive time for real estate investors to enter the rental market

[1:51] How being a landlord is equivalent to running a business

[2:08] The #1 question to ask yourself before renting your home

[2:30] The landlord’s obligation to be on call 24/7 to respond to tenant complaints, maintenance requests and emergencies

[2:45] The option to hire a property manager to take on most of your responsibilities as a landlord

[2:56] The concept of leverage + how a rental property can both generate cashflow and appreciate in value in a strong market

[3:38] Additional obligations a landlord must fulfill in terms of legal compliance and property maintenance

[4:00] What is required of a landlord when it comes to accurate accounting and record-keeping

[4:17] Making sure your rental property is properly insured

[4:29] Why it’s crucial to advertise a property and speak to prospective tenants in a way that recognizes Fair Housing Laws

[4:56] Where to go for more information about best practices for renting your home

Connect with Bob

North County Property Group

Resources Mentioned

Best Practices for Renting Your Home: Learn the Pitfalls and Safety Nets from a Pro can be found at https://www.ncpropertygroup.com/ebook.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify, and YouTube.

It goes without saying that every landlord dreams of a quick and seamless leasing process that results in a happy tenant and ongoing rental income. But what can we do to make the leasing process run more smoothly? How can we reduce the number of days on market and fulfill our owner’s expectations—without taking on tenants who are not a good fit?

Todd Breen is the experienced real estate broker, investor and property manager behind VirtuallyinCredible, a company offering video training, marketing and outsourcing specific to the property management industry. On this episode, Todd joins Bob to discusses the two major benefits of posting video property tours on your website and the value in leveraging VirtuallyinCredible’s leasing call center to boost your live answer ratio.

Todd also describes the process he uses to pre-lease an impressive 80% of his inventory prior to vacancy, the biggest mistake property managers make in the tenant screening process, and the statistics around how many prospective tenants tell lies of omission or co-mission on rental applications. Listen in for Todd’s argument against the idea that all money is good money and learn his tips for working less and earning more as a property manager!

Topics Covered

[4:05] The two major benefits of posting virtual video property tours on your website

[12:21] Why it’s crucial to train and monitor your call center staff around Fair Housing Laws

[13:27] Todd’s take on coming soon listings and the process he uses to pre-lease 80% of his inventory prior to vacancy

[20:36] The biggest mistake property managers make in the tenant screening process

[23:13] The statistics around how many rental applicants tell lies of omission and/or co-mission

[35:38] Todd’s tips for earning more by focusing on dollars per door

Connect with Todd

Todd on LinkedIn

Email sales@virtuallyincredible.com

Connect with Bob

North County Property Group

Resources MentionedEpisode Transcript
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Explore the offerings at VirtuallyinCredible. Use the codeword “brainstorm” to let them know we’ve sent you and receive your first 3 days free if you sign up for one of their services.
Todd’s How to Shoot Video Training Series

Todd’s How to Pre-Lease Training Series

The new eBook, Best Practices for Renting Your Home, has been recently published by Bob Preston and is offered as a free download on the North County Property Group website. Find it at this web link and download for free! https://www.ncpropertygroup.com/ebook

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Lockboxes provide efficiency and convenience, allowing real estate agents and vendors access to a property when we can’t be there. But is it a good idea to utilize lockboxes for property showings? When does it make sense to allow prospective tenants to look at a property on their own? And what can we do to mitigate any security issues associated with using lockboxes for self-showings?

On this episode of Five Minute Friday, Bob explains how North County Property Group makes use of lockboxes to assist in property showings. He covers the three main types of lockboxes, simple combo, Sentri and electronic, describing which is used primarily with vendors and which is exclusive to licensed realtors.

Bob goes on to discuss when the North County team uses electronic lockboxes for self-showings, allowing prescreened, prospective tenants to view a property by themselves within a limited time window. Listen in to understand how property managers can use electronic lockboxes to track who’s coming and going from a property and learn why the benefits and efficiencies of using lockboxes outweigh the slight security concerns.

Topics Covered

[0:41] When North County Property Group makes use of lockboxes to assist with property showings

[1:14] How simple combo lockboxes work and why we use them primarily with vendors

[1:39] How licensed realtors access Sentri lockboxes via a card provided by their local association and MLS

[1:59] How electronic lockboxes provide access only to those with a preprogrammed code

[2:14] Who issues codes at North Country Property Group and how the management team tracks who’s coming and going

[2:33] When the North County team issues realtors and prescreened prospective tenants ‘self-access codes’

[2:50] The conditions for using self-access lockboxes and the limited time window when self-access codes can be used

[3:15] How periods of self-show activity are tracked in the North County system and our team’s practice of making regular visits to the property

[3:36] North County’s policy around allowing property owners to opt out of self-access showings

[3:45] North County’s confidence in the safety of self-showings

[4:34] Why the benefits and efficiencies of using lockboxes outweigh the slight security concerns

Connect with Bob

North County Property Group

Resources Mentioned

Property Management Brainstorm EP024: Tenant Turnover Issues Solved

James Barrett of Tenant Turner

SentriLock

CodeBox

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Once you start marketing a property available for rent, inquiries come at you from all directions. You’re answering phone calls, responding to texts, and replying to emails—at all hours of the day and night. So, what is the most efficient way to respond to rental inquiries and schedule property showings? Is there a way to automate some parts of the process?

On this Five Minute Friday, Bob walks us through North County Property Group’s system for responding to rental inquiries, explaining how their leasing department answers questions, conducts prescreening, and schedules showings. He describes the advanced marketing system they use to respond automatically to email inquiries with instructions for scheduling a showing online, ensuring that they don’t miss an opportunity to get the property rented.

Bob speaks to the efficiency of using an online scheduling tool synced with the leasing agent’s calendar. Listen to learn how the North County team uses an online rental application to screen prospective tenants within minutes, using their specific rental criteria to collaborate with property owners on a decision.

Topics Covered

[0:40] Where to go for more information on responding to rental inquiries

[1:10] The complexity of answering phone calls, texts, and emails from prospective tenants and scheduling property showings

[1:34] North County Property Group’s efficient system for handling rental inquiries

[1:41] How their leasing department answers questions, conducts prescreening, and schedules showings during leasing office hours

[1:59] How their advanced marketing system automatically adds contact information from an email inquiry to its database and sends an autoresponder email with instructions for scheduling a showing

[2:24] How leasing agents can schedule a showing over the phone OR provide prospects with instructions for setting up a time online

[2:44] The high degree of efficiency provided by an online scheduling tool and how it can be synced with the leasing agent’s calendar

[3:50] How prospective tenants can submit a rental application online and be screened for credit score, eviction history, and criminal background within minutes

[4:30] How the North County Property Group team uses its specific screening and rental criteria to collaborate with property owners on a decision

Connect with Bob

North County Property Group

Resources Mentioned

Property Management Brainstorm EP024: Tenant Turnover Issues Solved

James Barrett of Tenant Turner

North County Property Group Rental Application Criteria

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

If you own a short term rental property, you want to maximize the return you get from every booking you make. One of the simplest and fastest ways that can be done is through effective pricing practices.

On this episode, Bob speaks with Marc Peckler, Senior Account Executive with Beyond Pricing. The Beyond Pricing approach to short term rental pricing is nothing short of amazing. They use dynamic pricing technology to find the proper rate for your rental property every single day of the year… not just seasonally. You won’t want to miss this intriguing conversation.

Outline of This Episode

[2:03] Setting pricing for short term rentals can be confusing and difficult
[3:30] The challenges facing the short-term rental Market and property owners
[7:46] How should short term rental pricing be computed?
[9:59] Dynamic pricing is similar to airline ticket pricing
[13:22] Can the average or do-it-yourself owner use this service?
[15:55] Analyze your short term listings by “health” to maximize profits
[20:45] A powerful calendar tool is important for many reasons
[22:40] Try out the demo to see how Beyond Pricing would work for your property

Dynamic pricing changes everything when it comes to short term rentals

When pricing short term rental properties, it's important to consider holidays, time of year, special events in the area, attractions nearby, occupancy rates of similar properties in the area, and corporate and community needs that might increase the demand for short term housing.

Resources & People Mentioned

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AirBnB
VRBO
Booking.com
Episode Transcript

Connect with Marc Peckler

Beyond Pricing website (affiliate link)
Marc on LinkedIn

Connect With Bob Preston

www.NCPropertyGroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and

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In this Five Minute Friday, Bob discusses the proper insurance coverage that a landlord should have at his rental property before placing a tenant. With Long-term Rentals (typically unfurnished, rented under a 12-month lease) there are two types of insurance policies that should always be required.

The first type of insurance is a “rental dwelling” policy:

The rental dwelling insurance policy should be a minimum of $1,000,000 public and premises liability insurance.
Rental dwelling policies usually cost less than homeowner policies because the owners personal belongings are typically moved out of the home and do not need to be covered.
The rental dwelling designation is critical if the house were to become uninhabitable. In such a case, the insurance would pay the property owner’s lost rent during the rebuilding period.
Property managers will require current proof of a rental dwelling insurance policy to be on record in their office and will likely want to be named as additionally insured (this is standard procedure with insurance companies).

The second type of insurance is renter’s insurance, obtained by the tenant, to protect their personal belongings and provide for tenant liability coverage.

In addition to protecting the tenant’s belongings, renter’s insurance protects the landlord from large scale incidents cause by tenants and would also pay for temporary housing for the tenant if the home is uninhabitable.

There are a few derivatives of these insurance policies which may need to be considered:

If the property is rented furnished.
If the property is a short-term rental (vacation rental).
Traditional renter’s insurance is not practical with a short-term rental.

Links to References Mentioned:

Episode 2: The Correct Insurance for a Rental Property

Connect With Bob Preston

www.NCPropertyGroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Five Minute Fridays are bonus "mini-episodes" of Property Management Brainstorm in which Bob covers a pertinent topic of property management or being a landlord, every Friday, in about five minutes or less. In this episode, Bob covers two questions frequently asked by landlords - "how is maintenance handled?" and “are there any mandatory property maintenance items performed regularly”. Bob answers these questions in the context of his own San Diego property management company, North County Property Group and mindful of State of California landlord-tenant law.

Bob discusses how property management companies handle facilitation of all property repairs & maintenance. In addition to being a licensed Real Estate Broker, Bob is also a licensed General Contractor, and through his affiliated maintenance company, called “MaintenanceSync”, his property management company has a robust set of vetted sub-contractors in every trade, ready to handle repairs and maintenance.

Prior approval is always obtained from the property owner for any expenditure over what is known as the maintenance limit (typically set at $500). He also explains the need for judgement in emergency situations if action is needed quickly to protect a property and the safety of a tenant.

Bob also describes the maintenance areas that are mandatory at every property on a regular basis.

1. HVAC system checks (heating and air conditioning) are completed annually and include:

Thermostat, wiring, and burners
Blower compartment
Air Filters
Heat exchanger/ignition
Cooling and Freon levels if there is installed A/C

2. Re-keying properties and Smoke/Carbon Detector testing are also conducted at every property following a tenant move-out and prior to a new tenant occupying the unit.

Links to References Mentioned:

Episode 23 of Property Management Brainstorm, Property Management Plumbing, Heating, and Air
Episode 22: A Better Way to Handle Property Maintenance
Episode 11: When to Rekey and Replace Smoke/Carbon Detectors

Connect With Bob Preston

www.NCPropertyGroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Anyone who manages rental properties knows first-hand how much hassle is involved with tenant turnover. From advertising to lease signing, it takes a top-notch team to do it effectively at scale.

Bob’s guest today is James Barrett, co-founder of Tenant Turner, a software application that takes the hassle out of tenant turnover in very intuitive ways. Listen to learn about how property inquiries receive an immediate response, how applications can immediately be assessed for potential tenant fit, and how self-showings can change the game for property owners.

Outline of This Episode

[2:20] The multi-faceted challenge of turning over a property for a new tenant
[6:05] How Tenant Turner serves property rental companies and property owners
[9:15] A peek inside the inner workings of Tenant Turner
[16:18] Traditional ways that landlords show properties to potential tenants
[21:50] Electronic lockboxes can make a huge difference
[24:23] The significant value of self-showings
[33:54] Auto responses any time of day

Make it easy for prospective tenants to inquire about your property

The Tenant Turner system, used by Bob at North County Property Group, provides automated responses to all inquiries immediately, even after hours, via email or text. Much of the back and forth communication is removed with this one, automated step.

Sign up for Tenant Turner and receive a $50 discount at this link to Tenant Turner or call them at 888-976-4638, and use the code word "brainstorm".

Resources & People Mentioned

Episode Transcript
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Connect with James Barrett

Tenant Turner (use this affiliate link to get your $50 discount)

Connect With Bob Preston

www.NCPropertyGroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

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Five Minute Fridays are bonus "mini-episodes" of Property Management Brainstorm in which Bob covers a pertinent topic of property management or being a landlord, every Friday, in about five minutes or less. This is the very first episode of Five Minute Friday. Bob covers the question most frequently asked by landlords when speaking with him about property management - "what charges can be taken from a tenant’s security deposit?" Bob answers this question in the context of the State of California landlord-tenant law.

Bob discusses his process at North County Property Group for the amount charged and held as a security deposit, the property inspection process at the tenant's move-in and move-out, and the four purposes for which a security deposit may be used:

unpaid rent or utlitiy charges;
cleaning the rental unit to make the unit as clean as it was when the tenant first moved in;
repair of damages, other than normal wear and tear;
cost of restoring or replacing furnishings, other than because of normal wear and tear.

Bob further explains that a landlord may only withhold those amounts that are reasonably necessary and offers his approach to the terms "normal wear and tear" and "reasonably necessary". He also gives an example of the "useful life rule" and how it pertains to prorating charges for the remaining life of the item damaged.

For more information on this topic, Bob also refers listeners to a blog post he wrote on this topic, posted at this link, titled Allowable Security Deposit Deductions.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Plumbing, heating, and air. It's a topic that can be confusing for property managers, tenants, and the property owner because of many of the changing California building codes.

On this episode, Bob is joined by John Padilla of John Padilla Plumbing, Heating and Air to highlight some common issues faced in the plumbing and mechanical systems of homes. They focus on water heaters, low flow fixtures, and HVAC (heating and air) to discuss new ordinances, codes, and safety requirements in each of these areas.

Outline of This Episode

[2:01] The history of John’s career and how the business developed
[5:46] Water heaters: Why do they fail and what’s involved in the repair?
[11:45] Tankless water heaters are valuable for limitless hot water and rental situations
[15:25] Dramatic damage can happen when a water heater pan is not used
[18:37] California mandates for plumbing fixture codes and compliance
[29:13] Proper frequency for HVAC checkups and what should be checked

Water heater tips and building codes

Rust, calcification, and water pressure issues are can cause failure in a water heater. They should be drained, flushed, and refilled annually to properly to get rid of damaging sediments that can form. If the water heater needs to be replaced, it will need to be brought up to code for NOx water heaters, expansion tanks, sediment traps, and drip pans.

Low flow water fixtures
New federal, city and county building codes typically requiring low flow fixtures to be installed in all new construction or remodels and repairs.
Maintenance for HVAC unitsSimple, annual maintenance is required to assure tenant safety and avoid more expensive HVAC repairs. John describes proper annual maintenance for both the heating and cooling sides of the system.

Resources & People Mentioned

Episode Transcript
SPONSOR: Buzzsprout - To get a free $20 Amazon gift card, here is the link I mentioned during the episode, check them out and sign up here here
SDMC147.04 - San Diego standards for fixtures, etc.

Connect with John Padilla

Website: https://www.jpplumbers.com
858-375-5633

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

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Rental property maintenance is no small issue and is typically a challenging aspect for property owners, property management companies, or tenants. Bob’s guest on this episode wants to help drive the world towards the new and believes that "maintenance shouldn't be so hard". On today’s episode, co‐founder and CEO of Property Meld, Ray Hespen joins Bob for a conversation about the importance of well-managed and effective property maintenance.

It is important to understand that the people who rent properties are doing so in part because they don’t want the headaches that come with owning a home. They rent so that someone else, such as the property management company, takes care of issues when they arise. Because this, speed and precision are of the utmost importance when handling maintenance issues. If they aren’t addressed quickly and effectively, renters choose not to renew their lease for that property. Statistics back it up. On this episode, learn how automated systems can help you keep renters happy in spite of the maintenance issues that arise in their units.

Two of the trouble-spots when it comes to the vendor’s side of rental property maintenance are scheduling a time with the renter for the repair to be done and communication with the owner or property manager about the status of the issue. Automation makes both sides of that equation easy and automatic. In the Property Meld system, vendors can easily communicate with the tenant, update the status of repair issues, and mark the job as “done” when they are finished.

Listen to learn about this amazing service - and hear how it could increase your bottom-line as a property owner or property manager.

Outline of This Episode

[2:05] Ray’s experience and the origin of Property Meld
[8:01] The “inconsistently inconsistent” property maintenance story
[10:25] The Property Meld way of rental property maintenance VS the old way
[19:01] Confirming that a repair was done is harder than it sounds
[22:30] How an automated maintenance system nurtures relationships with vendors
[30:05] The best advice for those dealing with property maintenance

Connect with Ray Hespen

Property Meld - Ray’s company and one of our partners

Connect With Bob Preston

www.NCPropertyGroup.com

Resource

Episode Transcript

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Real Estate investor property management is a different situation than typical property management. There are many needs investors have that are specialized and require a specialized approach. On this episode, Bob and Brett discuss the ins and outs of investment property management, highlight new services North County Property Group has created especially for property investors, and discuss nuances such as selling an investment property with a "Tenant in Possession" (TIP). Be sure you listen!

Outline of This Episode

[1:15] Dedicating this episode to real estate investors - this one is for you!
[1:54] The two types of people who need property management services
[3:10] Why investors need different and additional services
[7:19] Property management discounts begin with the 2nd property
[9:04] Are multifamily properties able to take advantage of these discounts?
[10:40] The investment property tool we offer for property investors for nationwide search
[13:30] Selling a property with a Tenant in Possession (leased property with tenant)
[19:27] Helping investors at the beginning, during, and at the end of property ownership

Resources & People Mentioned

Review specifics of the Real Estate investor property management program
See our pricing page to get the details on the fees and rates for the program
View properties listed/sold with Tenant in Possession (TIP)
Episode Transcript

Connect with Brett Preston

Brett (at) NCPropertyGroup.com
1-858-792-5797

Connect With Bob Preston

www.NCPropertyGroup.com

For more information about the Real Esatate investor property manager programs discussed by Brett, click on this link to the North County Property Group website.

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Water damage, mold, and the ensuing remediation work required is something no property owner or manager ever wants to have to address. Water is one of the most common sources of damage to properties and can happen due to failing water heaters, broken pipes, roof leaks, and more. On this episode of the podcast, Bob speaks with Jason Widmer, owner of KIC Restoration, here in the San Diego area.

On this episode, you’re going to learn how to know if you have a potential water damage issue that needs to be addressed, what to do about it, and what the typical water restoration job looks like and how long it will take.

Outline of This Episode

[1:25] Jason’s expertise with water restoration and remediation
[7:02] The most common examples of water intrusion into properties
[10:50] Warning signs that you may have a water restoration issue in the making
[12:30] The first things to do if you have an active water leak
[18:50] The conditions that promote mold growth and why it’s a big deal
[24:47] What does the entire process of water restoration look like?
[37:01] Insurance issues and how they can help or complicate things
[44:01] The best piece of advice: work with the right people for water restoration

Signs that you may have a water restoration leak in the making

If you can hear the sound of running water in your property and all water sources are turned off, it’s pretty obvious you have a water leak. But how do you verify that a water issue may be happening in your property if you can't hear running water? Water stains on ceilings or walls

Bubbled paint or texture on ceilings or walls
Warm floors
Visible splotching from mold

What should you do if you find a water leak in your property?

If you are fairly certain you have a water leak in your property, what should you do? Jason says it’s time to call someone who has the experience and equipment needed to identify for sure that water issues exist. You need to make sure the people who come to do work on your property know what they are doing when it comes to water remediation and restoration.

Does every water leak produce toxic mold growth?

Jason says there are hundreds of different types of mold and most of them are not anything to worry about (we even breathe some of them every day). The most important mold to watch for is commonly called “black mold” (Stachybotrys).
Resources & People MentionedEpisode Transcript

Connect with Jason Widmer

Jason’s Company: KIC Restoration

Connect With Bob Preston

www.NCPropertyGroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Property management is a detailed business with many moving parts - but it’s made simpler with the right property management team in place. On this episode, Bob wanted to do something a bit different - by introducing you to the members of his team at North County Property Group. You'll get to know these fabulous team members...

Property Management marketing specialist: Ally KubarychAlly is our Marketing Manager - she manages the company’s marketing and communication activities for digital and print marketing channels. That includes everything it takes to publish property listings to Real Estate websites. She touches everything that you see on a screen or in print. If the public consumes it, Ally is in some way behind it.

Property Leasing and much more: Olesya WilliamsOlesya came to NC Property Group at the end of 2013 - making her our longest tenured team member. She is the primary point of contact for all leasing and renting activities for our team - both for long-term and vacation rentals. She does lots more than that, though. She is also involved in identifying appropriate rental properties, conducting showings and walk-throughs, and completing all lease/rental agreements.

Property Operations Manager: Brittany HunterBrittany Hunter began her career in property management as a 19-year-old when a friend told her about a position in a property management office. She loves being a problem solver - interfacing with up to a hundred individuals per day. Brittany has learned to keep good records - taking detailed notes with every meeting to make sure that the proper information is available in the proper places so everything runs smoothly. A positive attitude and proactive approach are hallmarks of Brittany’s role on the team - she has learned to put herself in the other person’s place to respond as well as she can.

Lana Bryndina: NCPG Accounting ManagerLana is the one who keeps all the numbers straight for NCPG. She’s a Certified Bookkeeper who specializes in real estate issues and applications. One of the big things she has to take care of is the trust account - a carefully regulated aspect of doing property management in California, where we are located. She’s also responsible for producing and sending out the monthly owner statements that report the income and costs of the properties under our care - and paying the owners the profits they’ve made during the month.

Brett Preston: Our Business Development ManagerHis primary role at the company is to spread the word about our San Diego Property Management services. He does that by networking in the local Real Estate market and property investment community. It’s in those forums that he’s able to acquire new clients for the company. Brett is glad that he’s had experience in customer service in the past and believes that it provides him the right perspective to do his work with NCPG.

Resources & People MentionedEpisode Transcript

See the North County Proproperty Group team profiles on our website

AppFolio property management software

Connect With Bob Preston

www.NCPropertyGroup.com

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play

On this episode of Property Management Brainstorm, interior designer and home stager, Gunilla DeSanto, shares how to create a luxurious and relaxing vacation rental experience. In today’s rental economy, the demand for vacation rentals has never been higher. Rental owners are often asking how to make their vacation rentals pop or stand out online. In this episode, Gunilla explains how to create a once in a lifetime vacation rental experience for people while still having the comforts of home! For more information about Deluxe Decor by Design, click on this link to the Deluxe Decor by Design website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:54] Who Gunilla is and her background
[6:01] The current state of the short-term rental industry
[7:53] What Gunilla’s company does
[9:14] Interior Design: an investment, not an expense
[11:20] The process of working with Deluxe Decor by Design
[16:20] Important design elements
[20:00] Why kitchens are important in creating a vacation rental experience
[26:01] The connection between indoor and outdoor living spaces
[27:20] Deluxe Decor by Design’s geographic coverage

The current state of the short-term rental industry

The short-term rental industry is seeing massive growth. In 2018, there were 100 billion short-term rentals worldwide. It is also projected by the end of 2019, that the number of short-term rentals will hit 170 billion. Available rentals also rose by 26%. Because there are now more options for short-term rentals, guests can afford to be more picky about where they stay.

The fastest growing segment of the short-term rental market is luxury rentals, with the vast majority of travelers wanting to spend time in a coastal rental where there is good weather year-round. Because of this, southern California makes an excellent market for these luxury vacation rentals.

Why interior design is an investment, not just an expense

Hiring an interior designer to help create the best vacation rental experience in your home is not just an expense. Updating decor and furnishings is an investment that will pay off in the immediate future. It increases property value and rental value when done correctly. Not only does interior design increase personal enjoyment but it creates happy customers - increasing rental rates and review rates!

Connecting indoor and outdoor living spaces

Outdoor living spaces are just as important as indoor living spaces in creating a vacation rental experience. There should be a seamless flow between indoor and outdoor. Having an outdoor kitchen is a plus, but a grill is a must. Many guests travel to places that are warm and coastal to be outdoors, so creating a space to enjoy the sunset, entertain, or just spend time is important!

Resource

Episode Transcript

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and

Today’s episode of Property Management Brainstorm helps navigate a new proposed California state tax. If you are not aware of the California Split Roll Measure, you will certainly hear more as 2020 draws closer. Former California state senate member and local San Diego politician, Joel Anderson, is an expert on this topic and joins Bob to provide great insights into the proposed measure on this episode. Be sure to listen. For more information about Joel Anderson, click on this link to the Joel Anderson’s website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:29] Who Joel is and his history
[4:14] What is Proposition 13
[5:45] California Schools and Local Funding Act of 2018
[7:00] Who is behind it and why it is being proposed
[9:00] The opposition
[11:34] Joel’s position
[14:25] How this legislation could impact the overall economy
[19:40] What happened to the state lottery funds?
[24:34] Is this a step to a similar change on residential property tax?
[34:24] Joel’s closing thoughts

Who Joel Anderson is

Joel Anderson previously represented the 38th senate district and is a member of the American Legislative Exchange Council serving the state of California as a leader. He recently announced that he will be running for the San Diego Board of Supervisors in 2020. The Board of Supervisors addresses quality of life issues for those living in San Diego. He believes that government should be effective, efficient and accountable in its actions. Joel believes that California has failed to deliver on housing and career opportunities, which is causing baby boomers to exit the state and making it so that millennials cannot afford to stay either.

California state tax: Proposition 13

Proposition 13 was legislature introduced during the 1970s during California’s massive growth.When someone purchases or builds a home, it allows a 1% assessment of market value and up to a 2% assessment every year after that. It also said that if you are a local government and want to raise taxes, you need a supermajority of ⅔ votes to pass this tax. It kept the government from spending out of control and it also made life in California more predictable for homeowners and government alike on tax revenue.

The California Schools and Local Funding Act of 2018

The California Schools and Local Funding Act of 2018, also known as the California Split Roll Measure, says that corporations and businesses are not paying their fair share. In the past, all properties have been assessed the same.

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Property management has many moving parts. Even if you are an individual landlord renting a property yourself there are many things to manage - from listing and marketing the property to leasing your property, keeping the property maintained, dispatching vendors for repairs, and accounting… On today’s episode, Adam Feinstein of AppFolio joins Bob to talk about AppFolio’s property management software. For more information about AppFolio, click on this link to the AppFolio website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:30] Who Adam is and his background
[5:11] Things a landlord has to manage
[7:04] What AppFolio provides
[11:30] The 3 areas that Bob’s company benefits most from from AppFolio
[12:12] Marketing with AppFolio
[14:39] How AppFolio helps with maintenance
[18:12] AppFolio’s accounting solutions
[21:24] Other AppFolio offerings for property managers

How AppFolio helps with property management

AppFolio provides a completely integrated property management solution for a property manager. It allows a property manager to double or triple the number of properties under management without hiring more people to do so. Without this system, it could take an additional month to list a rental property, losing a month of rent. Be sure to listen as Aaron shares more benefits of using AppFolio.

Marketing your rentals with Appfolio

There are over 100 affiliate sites you can list a rental on as a property manager. Can you imagine having to list these manually on each site? With AppFolio, you are able to post a rental on all of these sites with only one click. You are able to add photos and details and then list your property quickly. With AppFolio, you are also able to funnel all responses from these sites into one area. Not only does AppFolio save property managers time, but it adds organization and ease to the marketing process.

How AppFolio helps a property manager with maintenance

With AppFolio, tenants are able to log on to a mobile app to submit a maintenance request. It streamlines these service requests for you as a property manager to schedule vendors to address the issues. AppFolio also sends a satisfaction survey to the tenant to rank the vendor used after the service is done to ensure that your vendors are doing a good job.

AppFolio’s accounting solutions

Accounting on AppFolio is automated. It allows tenants to pay rent online with a credit card, debit card, or electronic check. he system is also able to generate an owner’s statement each month to show the rent collected, deposits, what a tenant has maid, management fees, and an owner distribution. It makes the process of tracking where they money has gone more straightforward for all parties involved.

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Have you ever wondered as a property investor and landlord what would happen if your tenant defaulted, or abandoned their lease? It is uncommon, but it does happen. Every landlord bears some degree of risk and exposure to this area. But, there is a way to protect your rental income if something should occur. Aaron DiCaprio, CEO of Rent Rescue, joins Bob on this episode to talk about this scenario. Rent Rescue provides rental income insurance to landlords to void the headaches that come with defaulting tenants. Be sure to listen in to hear what he has to share! For more information about Rent Rescue, click on this link to the Rent Rescue website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:34] Background on Aaron and Rent Rescue
[9:38] How to apply for rental income insurance
[12:48] Rent Rescue’s partners and relationships
[15:21] The process to submit a claim
[20:08] Who can purchase a policy?
[24:35] Advantages property managers bring to the table

Rent Rescue: rental income insurance

Rental income insurance provides peace of mind to help reduce the headaches of tenant defaults. Rent Rescue was born because founder Aaron DiCaprio and his wife had personally been burned by tenants in their own rental properties. The coverage provided helps avoid the unthinkable - being unable to collect rent on your rental property. Rent Rescue provides insurance to cover the abandonment of a lease, the death of a tenant, a court order breaking a lease, skips, non-pays, and up to $1k in legal expenses. Having rental income insurance helps mitigate the loss caused by a default, which is especially important for landlords who are dependent on this rental income. Be sure to listen to this episode as Aaron shares more on his company Rent Rescue.

The process to submit a claim

Rent Rescue is meant to be an easily accessible product, with its application and claims process all online. Once a landlord realizes he is not going to be paid, he can go ahead and submit a claim on Rent Rescue’s website. Payment is usually within 30 days. Rent Rescue has either a 3 or 6 month reimbursement, which is paid out monthly dependent on whether a landlord can find a new tenant. Each month, the adjuster will ask questions to start the payment process.

Who can purchase a rental income insurance policy through Rent Rescue

Rental income insurance through Rent Rescue is available to a plethora of parties: landlords of small portfolios and large portfolios alike as well as property managers or property management groups. Rent Rescue helps property managers differentiate themselves from others in the field. It provides a value-added service that helps create a top tier management service.

Advantages property managers bring to the table

Aaron and Bob talk about the advantages of having a property manager handling your real estate investment properties.

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California Association of Realtors Deputy Chief Economist, Jordan Levine, joins Bob on this episode of Property Management Brainstorm to talk about the economic outlook for the California real estate market. Jordan’s work for C.A.R. uses data to understand the market throughout the state of California. He not only shares what he has seen so far in 2019 but what the current economic outlook for real estate means for those considering investing in property. If you are interested in real estate investing or simply want to know more about the California market, you don’t want to miss this episode! For more information about C.A.R., click on this link to the C.A.R. Website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:10] Who Jordan is and what he does
[5:55] An update on Q1 of 2019
[8:10] How consumer confidence and the real estate market are connected
[12:45] The market explained by generation
[14:08] Metrics for tracking homes sold per year
[18:34] An exodus from California
[22:58] How an economic recession affects real estate investing
[26:48] The rental market in California

An update on Q1 for 2019

Jordan shares that Q1 of 2019 has been a wild ride - statewide, nationally, and globally. The markets are all over the map. Because of this, consumer confidence is all over the map. Consumer spending has dropped as well as rates. Jordan is fairly confident that this volatility that has been seen so far in the year will stay for the remainder. The question of how long can the economy actually hold up is the main question underlying consumer skepticism. Historically, you don’t see extensions that last 10 years or more and the current expansion is very close to that 40 quarter limit. Be sure to take all of this into account as Jordan shares more on the California real estate market in this episode!

How consumer confidence, economic outlook, and real estate are connected

Consumer confidence plays a more specific role in the real estate sector. Buying a home is one of the biggest purchases a person may make, so when the public begins to fear that the economy may tank, they are more reluctant to make big-ticket purchases. Jordan shares that in his research 3 out of 4 people are saying now is not a good time to buy a home. With a lack of confidence in the current economy, the demand for real estate goes down. Currently, Jordan is seeing houses being discounted and days on the market rising. This points to fewer people buying. There is still psychological scar tissue from the last economic downturn, causing the market to slow.

Why a yield curve inversion is important to note

A yield curve is looking at yields on different government bonds on different levels of maturity. Buying a bond is loaning the US government money, and the return is a function of the inherent risk. To tie up money for 30 years with a 30-year bond is more risk, so there are higher interest rates on this longer-term borrowing. Because loaning the government money for longer gives you more exposure to their bad choices, there should be a higher return for the risk. On the shorter end of the yield curve is a short term bond. There are typically a lot fewer question marks about what the next 3 months look like. Because the risk is lower, there is less compensation. HOWEVER, when the yield curve inverts, it tells you what people are thinking about the current economy. Shorter bonds are giving higher returns because there are fears on the shorter term and underlying risks in the short run in the economy. Because of this, a yield curve inversion is a good way to predict future recessions.

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Real estate investors are always on the lookout for investment properties. The standard way of doing this has been to research the area, drive around with a realtor, or looking online. However, Don Ganguly joins Bob on this episode of Property Management Brainstorm to chat about a new way for investors to find these properties and to see if they are the right investment. Don is the founder and president of HomeUnion. HomeUnion makes real estate investing more simple. It provides a way for investors to buy and find properties in a similar way that they may find and buy stocks or bonds. Whether you are a real estate investor or property manager, you will want to hear about this product! Listen in. For more information about HomeUnion, click on this link to the HomeUnion website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:19] Intro and background on Don and Home Union
[7:39] How HomeUnion’s platform is similar to investing in the stock market
[9:09] Common terms defined
[13:02] How to determine an ideal real estate investment
[15:44] What HomeUnion does for real estate investors
[20:36] How properties get on the site
[23:25] Geographic and market coverage
[25:02] How the service and product are promoted
[27:05] Closing thoughts

How HomeUnion makes real estate investing easier

HomeUnion is a real estate investing product. With 200 million transactions on its platform, it provides a product that allows real estate investors to research, select and buy real estate or rental properties like stock market investing. Similar to stock market investing, HomeUnion asks investors for a budget and whether they would like cash flow, but this system also lets investors select what kind of property they are looking for, the location of the property - or let the system suggest a location based on the other terms. HomeUnion is able to provide information on cities and neighborhoods and creates models for what rent should be, the expenses of the unit, taxes, and much more! This gives investors a more accurate picture of market comparables and price trends. Information on investment properties is literally at one’s fingertips.

Common terms defined

Don takes a minute to define terms that are helpful to know for real estate investors.

Cost of Capital: What you are getting your money at - the cost of the funds. For instance, a 4% interest rate would be a 4% cost of capital on the money borrowed

Net Operating Income: Your rent less all the expenses on the property (insurance, property management, taxes, etc)

Cap Rate: The net operating income divided by the price

Net Yield: Everything after expenses

What HomeUnion does for real estate investors

HomeUnion puts boots on the ground for investors. It is the go-to place to validate prices and rents in the area. It can also help investors know what kind of renters live in the area, backed up by research. HomeUnion also does due diligence for real estate investors. HomeUnion partners with local property managers to do this. The system allows investors to narrow properties down based on the due diligence done by these local partners.

HomeUnion’s partnerships

HomeUnion is not only beneficial for real estate investors. It is a great tool for property managers. Property managers don’t typically have the tools to engage investors at the time they purchase a piece of property. By engaging investors in the due diligence process, property managers are able to climb higher on the food chain.

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On this episode, Andy Wallace joins Bob to talk about an extremely important topic for anyone handling a rental property: the property management inspection. This inspection takes place before a tenant moves into a rental and prior to the tenant vacating a rental. Though the world has gone digital, many of these inspections are still occurring on paper, by hand. With the amount of documentation and photos needed to complete these inspections, you can imagine how hard it could be to keep this straight for one rental - let alone hundreds of rentals. Andy’s company, zInspector is a cloud-based application that allows customers to do the inspection process on a mobile device. Be sure to listen to hear how the app works, why it is a great solution to recording home inspections, and more tips from Andy! For more information about zInspector, click on this link to the zInspector website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.

Outline of This Episode

[2:00] Andy’s background and what zInspector is all about
[3:47] How people are doing home inspections today without zInspector
[7:07] The classic home inspection vs. this type of home inspection
[9:08] Best practices to use zInspector
[13:05] Personal use vs. business use
[15:27] The final output from zInspector
[18:18] Recommended devices to use
[20:41] 360 degree cameras
[23:42] The importance of timestamping inspections
[26:55] Other uses for zInspector
[29:43] Andy’s closing thoughts

The “current” home inspection process compared to zInspector

Many property managers are still doing the entire home inspection process on paper and by hand. Andy says that some property managers may have tried to track things on Excel or an online form, but that most resort to a paper checklist that they can touch and see. zInspector does a great job of giving the property management inspection process a similar feel to that of a paper form. For instance, it gives the whole perspective of the process. It also has subtle advantages. As software, it allows for customizable forms, adds timestamps, organizes photos, and allows the property manager to view the rental over a period of time. It has the tools to make the inspection process faster, and more easily referenced in the future.

Best practices to use zInspector for a property management inspection

Andy shares several best practices for working in zInspector for a property management inspection:

Create properties either on the application or on the website and build up the property
Customize area details (for example: 1 smoke detector per room) and synch that with all of your properties
Gear up for move-ins, pre-inspections, and move-outs in the application - keeping this data in the application allows you to have a picture over time of a specific rental

zInspector’s final output

Though zInspector stores data in the cloud, property managers are also able to export data to a final PDF report that is printable. This report contains information, as well as six photos per page. Each photo is time-stamped and GPS stamped. Not only are you able to print reports quickly, but zInspector helps you locate them in an instant. You are able to search your database of rentals on zInspector by property address, inspection type, keywords, or timestamps to find your report. Compared to having photos files on a hard drive to search for or paper copies of checklists, zInspector puts your inspection information literally at your fingertips.

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In this episode, Bob welcomes his guest Dathan Kern, the owner and head locksmith of Kern Key in San Diego. Dathan explains the importance of re-keying a rental property at tenant move-out, before a new tenant moves into the property, along with other tips on keeping your home secure. He also explains how and why carbon monoxide and smoke detectors should be tested on a regular basis as well as the current State of California code on where they should be installed. As a further discussion point, Bob brings up the growing popularity of keyless entry devices for a rental property such as digital combination locks. For more information about KernKey, click on this link to the Kern Key website. This episode is always available for listening, sharing, or download at Property Management Brainstorm. You will also find a complete time-stamped transcript at Transcript of This Podcast Episode 11.

Bob discusses a new concept in protecting rental properties to give landlords additional peace of mind from tenant-related risks. This episode features Dave Holt, co-founder at SureVestor, a company which provides this a unique form of insurance when renters are in your home. Dave explains this new insurance product, how it works, and what aspects are covered under the policy. Dave also shares his insights on costs involved in the three things landlords fear most: malicious damage by a tenant, loss of rent if the lease is abandoned, and unlawful detainer action (eviction). Bob discusses his plans for implementing SureVestor at North County Property Group as part of the company's Premium Program for San Diego Property Management. For more information about SureVestor, click on this link to the SureVestor website. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a complete time-stamped transcript of This Podcast Episode 10.

Bob discusses best practices for managing all of the moving parts of a short-term rental, commonly referred to as vacation rental, with Matt Hoffman, Head of Short-Term Rentals at Kigo, a RealPage Company. The software as a service (Saas) provided by Kigo is specifically designed for managing short-term rentals. Bob and Matt exchange views on the definition of a short-term rental, what distinguishes a short-term rental from a long-term rental, and the ideal characteristics of a property owner thinking about renting their home as a short-term rental. Matt also offers his insights and opinions on the rapid growth of the STR market as well as valuable advice to owners of short-term rentals looking to maximize their income and book great tenants. Bob also offers his experiences in implementing and using Kigo as a current subscriber to the software at North County Property Group. For more information about Kigo, click on this link to the Kigo website. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a complete time-stamped transcript of This Podcast Episode 9.

Bob discusses best practices for rental property marketing with Dave Borden, CEO at PMW. Dave provides valuable advice and insights on how to promote a vacant rental to attract, respond to, and obtain a lease with a top notch tenant. Dave also offers his recommendations pertaining to which Internet sites are best for posting rental ads, the proper use of social media to promote a rental property, the pitfalls when communicating with prospective tenants, and why it might be best to leave this process to a professional property management company. He offers some quick math on the cost of listing and marketing a property yourself as a homeowner vs. hiring a property manager. Take a listen to the podcast and hear what he had to say about these topics and more. For more information about Dave and his company, click on this link to PMW. This episode is always available for listening, sharing, or download at Property Management Brainstorm. Click here for a complete written and time stamped Transcript of This Episode.

Bob discusses rental property pet policies and the importance of pet and assistance animal screening with John Bradford, Pet Lover and Founder of PetScreening.com. John explains risk management for pet friendly rental properties and the nuances surrounding ADA and Fair Housing Laws pertaining to assistance animals. PetScreening.com offers a great solution to property management companies, homeowners, and tenants to register and screen pets through their 3rd party platform. To learn more about this terrific platform visit PetScreening.com. This episode is always available for listening, sharing, or download at Property Management Brainstorm. Click here for a complete written and time stamped Transcript of This Episode.

Bob discusses the importance of keeping a rental home properly maintained with Zorik Gordon, CEO at Serviz, a company which offers online home services on demand. Keeping a rental property in good working order is one of the most important aspects of maximizing rental income and making tenants comfortable and happy in your home. Have you ever asked yourself the question "Why can't we book and buy local maintenance services online, just like we order and buy products online?" Zorik helps answer that question. Serviz offers a great solution to property management companies and homeowners to quickly and easily find and schedule professional maintenance tradesmen such as handymen, plumbers, electricians, etc to make repairs. Zorik provides his insights as to why scheduling maintenance pros has historically been a frustrating experience and how the new platform offered by Serviz helps streamline the process. To learn more about Serviz visit www.Serviz.com. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a complete time-stamped transcript of This Podcast Episode 6.

Bob discusses the concept and importance of the Broker Trust Account for property management companies with Allison Disarro, Senior Vice President of Property Management Banking at Seacoast Commerce Bank. Real estate brokers and property management companies receive and hold funds in their everyday course of business from tenants and property owners for rent payments or property improvements. Property managers must accept, control and account for these "trust funds" within compliance under State of California Bureau of Real Estate standards. The improper handling of trust funds can put the monies at risk and may be cause for the suspension of a Broker's license. As such, it is very important for homeowners considering renting their properties to hire a property manager that has a properly established and documented Broker Trust Account. Allison provides her expert explanation of the importance of the trust account, how these accounts should be set up, and what questions a homeowner can ask of their property manager to make sure their owner funds are properly deposited and protected. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a complete time-stamped transcript of This Podcast Episode 5.

Bob discusses the future of Short Term Rentals (STRs) with Dwight Worden, the Mayor of Del Mar, California. Bob and Dwight cover the new ordinance put in place in Del Mar to regulate rentals, room sharing, and house exchange of less than 30 days in duration. Sometimes referred to as Vacation Rentals, STRs have grown in popularity in many communities and neighborhoods throughout North County San Diego (Cities of San Diego, Del Mar, Solana Beach, Encinitas, and Carlsbad). The growth of the "sharing economy" and the online explosion of STR websites such as Airbnb, VRBO, HomeAway, and FlipKey have increased the number of property management companies and individual homeowners offering furnished homes to vacationers. This is not unique to North County San Diego, but is occurring in residential neighborhoods all over the world. This has rapidly become an emotionally charged topic, as conflict can occur between property owners who want to profit from short term renting and others who see STRs as turning their neighborhoods into commercial hotel zones. This episode is not intended to determine a right or wrong answer to this issue, but rather explores what City Councils are doing, now and in the future, in regard to STR regulation, zoning, and enforcement. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a complete time-stamped transcript of This Podcast Episode 4.

Bob discusses the importance of understanding California landlord-tenant laws with Ted Smith, the owner and principal at Ted Smith Law in San Diego, CA. Being a landlord or property manager in California requires awareness of specific federal and state laws as well as local ordinances pertaining to renting to tenants. Some of the common legal pitfalls include violating fair housing laws, security deposit charges, how much can be charged for a tenant screening, procedural timing on serving notices for ending tenancy or if a tenant is late on rent. There are also many disclosures regarding environmental hazards, property particulars, and even bedbugs. Failure to follow the proper legal protocol could lead to lengthy and expensive disputes with a tenant and possibly financial penalties. In this episode, Bob and Ted cover many of the key legal aspects pertaining to being a landlord and why individual homeowners with the desire to rent their property should consider hiring a property manager rather than trying to do it themselves. Ted also offers many legal insights and some important guidance on staying in compliance during the rental process. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a full time-stamped transcript of This Podcast Episode 3.

Bob discusses the importance of obtaining the proper insurance on various types of rental properties with Chris Mahlberg, from the Farmers Insurance Office of Kirk Miller in San Diego, CA. Having the correct insurance policy in place for your rental property is a critical aspect of property management, protecting your home from damage, and limiting exposure to tenant liability. When considering the possibility of renting their home, one of the first steps a homeowner should take is speaking with their insurance agent about their plans and how to obtain the correct insurance. Bob and Chris cover the various types of insurance available such as landlord policies for a long-term rental, renter's insurance for tenants, vacation rental insurance for short term/furnished rental properties, and damage protection insurance for vacation renters. Chris also offers his professional insights, guidance, and examples of why this is such an important aspect of property management and renting your home. This episode is always available for listening, sharing, or download at Property Management Brainstorm. See a full time-stamped transcript of This Podcast Episode 2.

This first episode introduces the purpose of the Property Management Brainstorm series and also introduces the host, Bob Preston, the president, owner, and real estate broker of North County Property Group. Bob will brainstorm ideas and best practices related to rental homes, either as a long term rental to residential tenants or offering a second home as a vacation rental. Bob will be inviting experts and professionals to discuss topics related to property management so listeners can learn about things such as what type of insurance is recommended when renting a property, why are tenant laws important, what ordinances and codes are mandated in a rental home by the state of California, what tax implications should be considered on the rental income generated, etc. Bob further explains the direction of the Property Management Brainstorm podcast series and also provides an introduction to himself and his company, North County Property Group of Del Mar, CA as a backdrop for his interests and qualifications in bringing you this podcast series. This episode is always available for listening, sharing, or download at Property Management Brainstorm.