Casual Articles - Real Estate

Organizing Your Small Business
A fundamental challenge of small business can be summarized as "too many tasks, too few people."Unlike large enterprises which can have whole teams devoted to limited tasks - think "Task force for the unification of stapler specifications and procedures" - small businesses can have one person covering anything and everything.The time to address "who does what" in an organization is the time when the organization contemplates adding its very first employee. If you are a "one man (or woman) show" and you want to grow, now is the time to start.Organizing small business starts with an organizational chart. This chart is a thinking tool which evolves over time, so it is a good idea to use a medium which allows change, such as a spreadsheet

es as an incentive to collect the rent.

Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then th

Email Marketing 101 - 5 Time-Tested Tips For Writing Powerful Emails!
1. Write as you speak. Since email is a very personal medium, you’ll want to write as you talk. People relate better to others whom they feel a connection with. Perhaps even add in some elements of your personal life once in a while so your subscribers will know you better.2. Write an email when you’re happy! Never write when you are feeling agitated. This will show in your emails. If you are chatting with a client or a customer, this is even more important. Try to resolve your differences cordially, because once you send your email, there is no turning back.3. Create a really good subject line. Your subject line is the first thing your recipient will see. It should be benefit laden and tell the reader what is in it for him or her. However, d

Each month your property manager will send you a monthly report. Each company has its own format, using different property management software and internal processes. However, you should receive the following:

A one-page summary that highlights key issues about the property, e.g., one tenant is 30 days behind on the rent.
Income & expense statement. This should be a short statement showing the base rent, Common Area Maintenance (CAM) charges for each tenant, rent and CAM payments received from each tenant. It also shows maintenance expenses and management fee; so you may quickly determine if each tenant has paid rent or not. This statement itemizes all of the income and expenses which may include:
- Late fee: when the tenant pays late, he has to pay the rent plus the late fee. The late fee amount is normally stated in the lease. Normally, when the tenant pays late, the property manager has to do extra work to collect it. The amount of work depends on whether the tenant is too busy to mail the rent check, does not have the money or simply does not want to pay. Typically, the property manager is entitled to the late fees as an incentive to collect the rent.
- Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then the
  Emergency Savings Account: Save More than Just Money
  Few, if any, of us escape life’s financial challenges. Whether it’s lay offs at work, unexpected medical bills, or the loss of a spouse’s income, having insufficient reserve funds to pay even one or two months’ worth of our bills can drive many to impossibly strict budgeting, the loss of real property, and sometimes even to bankruptcy.As important as any other item in your budget, building an Emergency Savings Account with funds sufficient to pay three to six months’ worth of your monthly bills, can provide the financial buffer required to survive while you get back on your financial feet.So, even while you’re repaying your current debts, budget for regular deposits into your Emergency Savings Account at least until you reach
  e.g., one tenant is 30 days behind on the rent.
- Income & expense statement. This should be a short statement showing the base rent, Common Area Maintenance (CAM) charges for each tenant, rent and CAM payments received from each tenant. It also shows maintenance expenses and management fee; so you may quickly determine if each tenant has paid rent or not. This statement itemizes all of the income and expenses which may include:
  - Late fee: when the tenant pays late, he has to pay the rent plus the late fee. The late fee amount is normally stated in the lease. Normally, when the tenant pays late, the property manager has to do extra work to collect it. The amount of work depends on whether the tenant is too busy to mail the rent check, does not have the money or simply does not want to pay. Typically, the property manager is entitled to the late fees as an incentive to collect the rent.
  - Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then th
    Confessions of an Incurable Entrepreneur
    Being in business. What the heck does that mean? Aren’t we all Commerce Crash Dummies on the grand scheme of enterprise utopia?We’re all in business just by the nature of who we are and where we live. No not just Americans but all of us. Even the Dani and the Yanamamo, those “primitive” folks in the rain forest. Every one of us is trading, selling (for something), getting, wanting and consuming! We’ve done it. We’re all cosmic entrepreneurs.So what do we get for being business people? Worry, fun, power, laughs, greed, humility, money, toys, sex, love, hemorrhoids, heart attacks, satisfaction, reinforcement, disappointment, ego boosting, bankruptcy, wealth, clothes, scorn, just about everything! And…that all-important just another typical day
    ee; so you may quickly determine if each tenant has paid rent or not. This statement itemizes all of the income and expenses which may include:
    - Late fee: when the tenant pays late, he has to pay the rent plus the late fee. The late fee amount is normally stated in the lease. Normally, when the tenant pays late, the property manager has to do extra work to collect it. The amount of work depends on whether the tenant is too busy to mail the rent check, does not have the money or simply does not want to pay. Typically, the property manager is entitled to the late fees as an incentive to collect the rent.
    - Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then th
      Fish in a Smaller Pond; Fewer Customers Means More Sales
      What is the number one goal of any salesperson? The quick answer is simply: to maximize the amount of sales revenue for the company or business you represent. Yes, that is THE single biggest objective of any salesperson, and rightfully so. Obviously, sales reps need to bring in the sales to justify their jobs, firstly, and maximize their income.But HOW do most salespeople go about doing this? Sadly enough, the answer most would give is this: maximizing sales revenue means maximizing the number of customers you have. The more customers, the higher your sales revenue. True? Not exactly. Have you ever considered REDUCING your customer base to bring in sales results that would give you jaw dropping sales figures? Yes, I am saying it here. To maximize y
      Normally, when the tenant pays late, the property manager has to do extra work to collect it. The amount of work depends on whether the tenant is too busy to mail the rent check, does not have the money or simply does not want to pay. Typically, the property manager is entitled to the late fees as an incentive to collect the rent.
    - Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then th
      Adapt or Die Scenarios in Modern Day Franchising
      As the market changes franchising companies and their outlets must also change with the flow of consumer dollars and the changes in consumer buying perception. Consider if you will the height of popularity of the South Beach and Atkins Diet? This of course was the time when Schlotsky's Deli filed bankruptcy and it was the start of the fall of Krispy Kremes, as they got royally creamed in the market place and the company imploded.There are times in modern Day franchising when there are adapt or die scenarios. If the franchising company and their franchised outlets fail to meet challenges or changes in market demand the company will fail and the brand name will go down the tubes. This is a time when it calls for franchise leadership and the company m
      es as an incentive to collect the rent.
    - Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then the management fee is the same. Otherwise, it varies from month to month.
    - Leasing fee: you typically see this when there is a new tenant or a renewed lease.
    - Security/Fire Protection: your property may have fire & security monitoring services.
    - Electricity: this is most likely for parking or common area lighting.
    - Water: this is for both drinking and irrigation.
    - Disposal: this is for garbage collection paid to the city.
    - HVAC repairs & maintenance: this is the maintenance costs for Heating, Ventilation and Air Conditioning. Usually, there is a service contract for HVAC whereby the maintenance company will inspect the HVAC twice a year: once before the winter and once before the summer. So, you may receive the service bills only twice a year.
    - Garbage dumping: sometimes people dispose their unused furniture, mattress on the property because there is no one around at night. The maintenance crew may have to clean up these things. Normally, you or the property manager will want a picture of the dumping to make sure that it is a legitimate bill.
    - Landscaping:

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