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PROPERTY MANAGEMENT BLOG
Author:hostCreated:10/7/2008 8:02 PM
Property Management

Monthly rent isn’t the only thing you want from your rental property. In all likelihood, you’re watching for your property to appreciate in value as well. That will become a losing battle if persistent damage keeps you constantly pumping money into the property. Here are some ways you can avoid the financial sting of damage to your rental units:

1. Before a tenant takes possession, make sure the property is in top condition. You’re teaching by example — showing the tenant what the property is supposed to look like when it’s well cared for. If the property is suffering from nagging little problems, the tenant is going to be more lax when in comes to cleaning and maintaining it. Don’t set the bar so low. 

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In order to retain renters, landlords and property managers need to show renters that their property is truly the best option. With tenants receiving frequent offers to relocate, and a numerous newly-built apartment complexes, area landlords need to be smart when it comes to tenant retention.

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Running a criminal background check on every adult rental applicant under serious consideration is a must-do for any landlord who wants to protect profits.

Failure to run a criminal check can increase landlord liability, especially if the new tenant hurts others, and increases the chances that an applicant will become a problem tenant.

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Showing a vacancy is one of the most important steps in property management. In today’s rental market, landlords have a number of choices for showings, each with distinctive advantages and disadvantages.

Choose which method is right for your management style and rental property:

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Beginning in January, several federal agencies are implementing new policies which are intended to address the lax underwriting standards that contributed to the housing crash more than five years ago.

For example, on Jan 10th, the Consumer Financial Protection Bureau will implement a new set of rules that were created to stem the predatory lending practices that are deemed responsible for the wave of foreclosures over the last five years.

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Vacancies are the top profit killer that rental property owners face. If you want to avoid the financial pain of a prolonged vacancy, take a minute to see if you are making any of these mistakes:

1. The Rent is Too High
Too often landlords purchase rental properties based on the appeal of the deal, not on the overall appeal of the property to renters.  Investors looking for higher margins can crunch the numbers and pump up the rent. Unfortunately, renters may not play along.

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We wish you and your family a very Merry Christmas that brings all the festive cheer and Happiness possible to make it a memorable time. Also, wishing you a Happy, Healthy and Prosperous New 2014 Year! 

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Many property management problems can be avoided with one simple procedure: the tenant walk-through.

The walk-through is simply a way to record — and prove — the condition of the rental property.  This information is recorded on a Move In/Out Checklist.

With this completed form in hand, you can avoid most security deposit disputes, spend less time rehabbing your rentals, and reduce the amount of time a property sits vacant.

Here are some tips to follow when conducting tenant walk-through’s:

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Vacancies are the top profit killer that rental property owners face. If you want to avoid the financial pain of a prolonged vacancy, take a minute to see if you are making any of these mistakes:

Read More »

Property Management Company recognized for its Excellence in Property Management in Philadelphia, Bucks County and Montgomery County, Pennsylvania.

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FOR IMMEDIATE RELEASE
PRLog (Press Release) - Oct. 18, 2013 - FREMONT, Calif. -- Fremont, California –Onyx Management Grouptop provider of property management services in Philadelphia, Pennsylvania proudly announced today that it received TReXGlobal’s 3R Award for being "Responsible, Reliable, and Recommended".

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Whether you are looking for a company to fill your property management or accounting needs for your Home Owners Association in Philadelphia, Bucks County or Montgomery County areas, give Onyx Management Group a call. Thanks for visiting this online residential and commercial real estate property management source.

If you're looking for assistance managing your residential or commercial property, or in running your homeowners' or condominium association, please contact us for a free assessment or simply submit a request for proposal. We will be glad to provide you with a comprehensive list of services that are tailored to your association needs. If you're looking for a dependable and reliable company to provide these services at a fair price, call us today!
 
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