Rental property management is a demanding profession, no matter how many units you own or maintain. This book, authored by H. John Fisher and produced by Way Finders - now in the fourth printing of its sixth edition - has become a standard text. Property Management Manual for Massachusetts Rental Owners, in easy-to-understand language, addresses these key topics: (1) Basic law and regulations currently governing the relationship between owners of rental property in Massachusetts and their tenants; (2) Effective legal procedures and processes; and (3) Good rental management practices.
This operations manual will provide you with the necessary forms, handbooks, and information needed to successfully start and manage a property management company. The content contained in this document is designed for real estate professionals who wish to take their real estate career to the next level.This Operations Manual is designed to help brokers, agents, and broker associates prepare themselves for success in starting and managing a property management company.* Brokers -Professionals who want to start up a property management company.* Agents - Professionals who can be a property manager if the broker will allow. These professionals may want to consider becoming a broker, and starting their own company.* Broker Associates - A professional who is already a broker, but working under another broker.Includes Policies and Procedures, Owner Handbook, Tenant Handbook, FAQ's and over 175 forms. You'll see an email address in the book once purchased to received the electronic version and editable formats for the handbooks and manual.You can also purchase the training course and workbook separately. How to become a Successful Property Manager.It is also good for a landlord owner manager.This manual is highly recommended for all real estate professionals starting a property management division within their company or those desiring to become a property manager.
Property Management Training Guide & Manual to include: Training Guide Training Workbook Owner's Manual FAQ's - dowload PROGRAM OBJECTIVES This training manual covers 5 modules of Property Management: Module 1: Starting Your Property Management Company This module will explain how to become a property manager or start a property management company. We'll take you through the necessary steps to set up the foundation of your property management company. You'll learn what to do and how to do it! Module 2: Marketing Yourself and Marketing Your Listings This module will cover all topics from marketing yourself and your properties. We'll take you through the necessary steps to market yourself and your listings. You'll learn what to do and how to do it! Module 3: Tenancy This module explains how to help tenants with the move in process, information about writing leases, how to manage the maintenance of the property, and how to manage leases for violations and renewals. You'll learn what to do and how to do it! Module 4: Accounting This module explains all the steps you need to take to set up accounting procedures for your property management company. You'll learn what to do and how to do it! Module 5: Knowing The Laws - Protecting Yourself & Your Clients This module explains what you need to do to protect yourself if you encounter any problems. We'll take you through the necessary steps to Protect Yourself. The Property Management Shoppe was created to provide the tools and training for Real Estate Professionals desiring to expand their real estate career by adding property management to their portfolios and services. As well as those who are interested in obtaining their real estate license to begin a career in property management. We know you are going to have a lot of questions. That's why we created "Ask The Property Manager"! Think of it as a mentorship. We want to help set you up for success. Our guide and manual is going to take you step by step to set yourself up to become a successful Property Manager the proper way. Don't think of it as a course, think of it as a resource manual that you can refer back to time and time again. You'll learn things they don't teach you in other Property Management training programs. Whether you are trying to build your own Property Management Company or better serve your clients. No other company offers the "Office in a Box" or an ongoing mentorship. Not only will you learn what to do, we are going to show you how to do it. We'll take it one step further by providing you all of the necessary tools that you will need to be successful. Our unique offering of "Ask the Property Manager" and "Office in a Box" helps new property managers become successful. This guide and manual will take you from the beginning to the end and everything in between. A One-stop Shoppe where you can find everything needed to set yourself up for success.
Provides rental housing managers and supervisors with the nuts-and- bolts information they need to manage effectively; provides them with a working knowledge of the many state and federal laws and regulations they must deal with on a day-to-day basis; and addresses the critical importance of customer service. Annotation copyrighted by Book News, Inc., Portland, OR
The rental housing business is one of the most regulated businesses in the United States. Owner's Manual for Landlords and Property Managers offers a step-by-step practical approach that guides both beginning and seasoned rental property managers through the often complicated legal system. Thomas Moorhead has been a practicing attorney for over thirty years and shares his vast experience in assisting landlords and property managers with various legal issues. He includes legal points, actual cases, and useful tips and techniques for understanding the ways laws are applied as well as how to prevent a lawsuit or legal claim. Through Moorhead's professional advice, landlords and property managers will gain significant knowledge in several areas including: Rental criteria and procedures Applicant screening Lease agreements Lawsuits for Fair Housing violations Wrongful evictions Security/damage deposit abuses The professional guidance offered in this complete legal survival handbook will help landlords and property managers both make and keep rental housing income, reaffirming that knowledge is power, especially for those who make their living overseeing rental properties.
The Asset Management Handbook is divided into three phases. Chapters 1 through 3 are conceptual introductions. Chapters 4, 5, 6 and 7 get into the meat of the policies and techniques of evaluating the capital needs of your property over the next 40 years. Chapters 8 and 9 help you identify which properties are doing well and which are the most threatened. What action should you take? What are the standard preservation and rejuvenation options available to a real estate portfolio manager? What is Asset Management? People are more accustomed to thinking about asset management of money or stocks or a package of annuity and savings accounts. Real estate asset management is a slower, longer term process. The properties in your portfolio, especially in affordable housing, have life cycles of 30, 40 or infinite time periods. Most nonprofit owners are not interested in selling to capture any appreciation on their properties. Their goal is to provide housing for the foreseeable future as long as the asset can perform. Many nonprofits and mid size property owners do not have a dedicated asset manager. It is extraordinarily important that someone take on that long-term analysis, be it for 10%, 25% or 50% of a full time employee. The next step is to benchmark your properties. How are you doing compared to the world? Not just on straight bottom line consideration, but how about in human services? Have you saved sufficient money to replace the roof or add the sprinklers that will be required at the next renovation? The Asset Management Handbook provides well-established objective criteria for 25 different variables. Weve seen participants in the asset management practicum expand that up to 40 variables to analyze on an annual basis. Well see how benchmarking and risk ranking of your portfolio are essential first steps in establishing its viability and needs. Capital Needs and Their Funds. In this meat of the manual, we walk you through essential policies that define how your properties will operate over the long term. We show how policies made by lenders, bankers and other short term partners can be self destructive and damaging to property owners holding for the long term. First example of the dichotomy, the lender is suggesting the reserve is sufficient when two years after their loan matures, the property will require $4 million of replacement expenditures. This is fine for investment property held for resale. You just flip it and get down the road. Most affordable housing owners do not consider selling the property as a positive outcome. Even if youve never performed a property inspection before, the Handbook offers you easy methods of counting and sorting components into well established remaining economic lives Then it is on to the massive spreadsheet that calculates the future need and the various waves in which it will appear. Exterior paint first, then roofs, windows and doors, and kitchens and baths follow and then it starts all over again. Most capital needs assessments performed by third parties make financial assumptions that are untenable. Their interest rates on earnings are overstated and their inflation rate on the components are generally understated leaving you with significant shortfalls, even if you have escrowed according to directions. We will keep you out of that trap, showing you the realistic funds that are required and the time periods when the inevitable refinancing windows will occur. Risk and Solutions. In the final section, we evaluate your primary risks. Which properties should you address first? Which properties have the strength and energy to function on their own? Then what should you do about it? Refinance? Renegotiate? Value engineer? Raise rents? In the foot race, the runner is always caught by the tsunami of required replacements. It is just a fact of the business that every 20 to 30 years youve got to re-invest a significant amount of money
