Property Management Brainstorm

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 ownershipResources & People MentionedReview specifics of the Real Estate investor property management programSee our pricing page to get the details on the fees and rates for the programView properties listed/sold with Tenant in Possession (TIP)Episode TranscriptConnect with Brett PrestonBrett (at) NCPropertyGroup.com1-858-792-5797Connect With Bob Prestonwww.NCPropertyGroup.comFor 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, 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.

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 restorationSigns that you may have a water restoration leak in the makingIf 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 wallsBubbled paint or texture on ceilings or wallsWarm floorsVisible splotching from moldWhat 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 TranscriptConnect with Jason WidmerConnect 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 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 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 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 coverageThe current state of the short-term rental industryThe 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 expenseHiring 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 spacesOutdoor living spaces are juConnect 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.

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 thoughtsWho Joel Anderson isJoel 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 13Proposition 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 2018The California Schools and Local Funding Act of 2018, also known as the California Split Roll Measure, says tConnect 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 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 managersHow AppFolio helps with property managementAppFolio 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 AppfolioThere 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 maintenanceWith 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 solutionsAccounting on AppFolio is automated. It allows tenants to pay rent online withConnect 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.

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 tableRent Rescue: rental income insuranceRental 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 claimRent 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 RescueRental income insurance through Rent Rescue is available to a plethora of parties: landlords of 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.

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 CaliforniaAn update on Q1 for 2019Jordan 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 connectedConsumer 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 pConnect 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.

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 thoughtsHow HomeUnion makes real estate investing easierHomeUnion 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 definedDon 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 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, 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 thoughtsThe “current” home inspection process compared to zInspectorMany 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 inspectionAndy shares several best practices for working in zInspector for a property management inspection: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.