Posts categorized: Property Management

Property Management /

Renters Insurance-Is It Necessary?

by: Mike Boehm, Orput Companies Property Management Director

According to this article by Mary Salmonsen and found on the Multifamily Executive site, 45% of renters say they don’t purchase renters insurance.

Property Managers have an opportunity during the leasing process to educate a leasee about the importance of renters insurance. Property managers can provide a few options and allow the tenant to decide which option fits their needs. Another great reason to hire a professional property manager to oversee your rental property.

Read more about this topic in the original article.

Contact Mike Boehm, CPM at 815-398-1708 to manage your property.

 

Property Management /

Occupants Demanding New Technology

by: Mike Boehm, Orput Companies Property Management Director

Technology streamlines our personal lives and is now streamlining property management. Real Estate and property management has been slow in adopting new technologies, individual agents or firms began creating their own hacks integrating new technology into their business routines.

Hacks are no longer needed, many services and apps have been created to specifically cater to Real Estate and property management businesses.

This article from MultifamilyExecutive.com touches on a few processes now available to all management firms.

Contact Mike Boehm, CPM at 815-398-1708 to manage your property.

 

Property Management /

Navigating the Internet of Things

by: Mike Boehm, Orput Companies Property Management Director

As a property owner, is your perception of The Internet-of-Things (IoT) a drain on financial resources with no return? Read this article from Property Management Insider and learn how the IoT may improve your Bottom Line if wisely used according to a plan that fits your asset.

Thanks for reading, please email me with inquires about how Orput Companies can improve your Bottom Line.

Helpful Tip, Property Management /

Pests on Your Property

by: Mike Boehm, Orput Companies Property Management Director

I have been fortunate during my career and have not dealt with many pests that slither, craw, fly, or walk on four legs. I have encountered bald faced hornets, mice, geese and raccoons on a few occasions. Trapping and eradicating the raccoons proved to be a challenging and time consuming task. I used a licensed live animal control expert who visited the site on a daily basis until the issue was resolved. I was happy with the results and have used his services on more than one occasion.

When asked if a maintenance team should take care of hornets or other pests I always suggest using a licensed service, the third party vendor will have insurance in case something doesn’t work out as planned and will typically treat areas until the issue is solved without additional charges. Please read this IREM blog post for further information.

photo credit: Ryan McGuire
Property Management /

New Product Designs Lowering the Cost of Utilities

by: Mike Boehm, Orput Companies Property Management Director

Property Managers are continuously looking for ways to lower the cost of utilities consumed by office tenants. Minimizing the cost of utilities allows managers to achieve a higher base rent resulting in higher profitability for the owner of the asset. Property managers achieve this goal by educating their tenants and thru the installation of specialized equipment to decrease use while not affecting the desired results of the tenants or their guests. One way to decrease water use is to install hands free faucets that are activated by a sensor and deactivated by a timer. Like all specialized equipment, these faucets can cost more than traditional faucets and create new and different maintenance routines for the facilities team.

I am intrigued by the design of the faucet mentioned in this article, it will be interesting if the designer can cost effectively produce the faucet using parts that minimize ongoing maintenance and reduce water in an amount that warrants the purchase price. Property Managers who manage “A” level office buildings may like the look and feel of this faucet in order to create an advantage over similar properties in their trading area. Read the article and see what you think.

photo credit: fastcompany.net
Property Management /

Costco vs Walmart: Understanding the Tenant

by: Mike Boehm, Orput Companies Property Management Director

My interest is always piqued when I see two successful businesses accomplishing their goals and doing so with differing business plans.(See article: Why There’s no Costco Inside Dallas City Limits Yet) Costco relies on volume sales to maintain their bottom line but not to the extent of Wal-Mart. Both entities control their overhead to achieve margins  but they each manage their overhead differently. It is important for a property manager/Landlord to understand the goals of a potential tenant and how the tenant achieves those goals. Wal-mart is chasing market share with a vengeance while Costco’s goal is to achieve a measured market share. Understanding the difference may give a property manager/Landlord an edge on the competition when selling or leasing real estate.

photo credit: Ryan McGuire