manager presentation mobile

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Talking Point 1

Experience and Background










 


Talking Point 2

Tenant Types, Owner Types and Building Types.







 
 

Tenant Types

 
There are two things that can alter the character of your property.
 
1. Management
2. Tenant Mix



 
Tenants Can Be Grouped In Two Broad Categories, Namely..

 
Tenants By Choice   And  Tenants By Circumstance.
 
 
  • Tenants by choice choose to rent instead of buying.
  • They like the idea of no responsibility of maintenance, and other things tied to ownership.
  • They invest in other investments other than real estate.
  • They free themselves from the obligations tied to ownership.
  • Likely to stay longer
  • cause fewer problems
  • And, overall make better residents.
  • They choose a place to call home and they back this up with their time, energy, commitment, and money.
?
Who Are The Tenants By Choice
  • Career people
  • Settled people without children
  • Empty-nesters
  • Retired senior citizens
  • These Tenants by choice are your longest staying residents,
  •  
What about the next group of tenants by choice?
  • Young married couples
  • Divorced
  • Single with children





Tenants By circumstance
  • Students going to college
  • Live-together couples
  • Those who require a place to sow their wild oats.
  • Several singles sharing a place
  • Trial marriage tenants
  • Place in your mind that tenants by circumstance renter is nothing more than the modern-day version of a weekend in a motel.
 
 
 


Talking Point 3

Tenant Mix Can Be A Problem Pending Market Conditions and Amenities


Competing properties and Their Square Footage.  Amenities, number of bathrooms, Etc.
 
What owners are asking for Security deposits
Concessions: Free rent.

 

If the market for family housing, say 3 bedroom units are between $850.00 to $900.00 and you need $1000.00, you may have to rent to tenants by circumstance. 
 
 
Generally the conversation about whether or not to raise rents begins after the owner has spent time with his financial records or his accountant. Never taking into account of how the market is doing.





 
Talking Point 4
What’s your target market

 



 
We will need to target that group. And, match that group to the property type.

 
Talking Point 5

How will we market to attract the tenant mix you are seeking?

 

  

 

Tenant mix marketing has to be targeted marketing



 
Talking Point 6
 
Selecting Target Market Segments

This is achived with Policies and standards. And, marketing those standards to tenant mix market segments, and staying within Federal and state guidelines. You can not discriminate.
 


 

 
 
  • Age group
  • Income bracket
  • Level of education
  • Marital status
  • Parental status
  • Physical location
  • Professional affiliations
  • Interests
  • College levels
  • Students at USU
 

Talking Point 7
There Are Owner Types As Well
 
Owners By Choice
 
And
 
Owners By Circumstance



Talking Point 8
 
Turn Around Cycle of Management
 
                    


The Vacant Unit

 
Unit Make Ready
Unit Inspections
Work Orders
Cleaners
Painters
Maintenance
Etc.



 
Target the property type with the tenant, target the tenant with the property.
 
Who will be renting a property with out washer / dryer hookups?
 
Who will be renting a place with private rooms, baths and share a common living room area?
Who will be renting……..





 
Marketing
 
Who will be your target market?
How to find the right tenant.
Newspaper
USU
Fliers
Post cards
Signage
Talking House
Internet marketing
Sun City Az. Summer residents.

 
 
 




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Other Spokes or Events I Need To Explain


Showing The Property Is  
     Key!
 
  • Never give out keys, physically show
  • Tenant screening over the phone & in person.
  • Application to rent
  • Verification of new resident


Leasing
  • One on one, paragraph by paragraph
  • Receive deposits and rents
  • Policy review
  • Keys given
  • Utilities transferred
  • Files set up
  • Phone numbers and email exchanged
  • Emergency communications
  • Review of lease exhibits



The lease packet
1.The Lease 25 subparagraphs
2.Exhibits A-B-C-D-E-F and G
3.Lead Based Paint
4.Tenant Internet guide policies Exhibit G
 
.
 Resident or Tenant Relations
  • Friendly, but never become friends
  • Enforcing policy
  • Enforcing the lease
  • Lockouts
  • Responding to tenants when they call
  • Service requests
  • Lease renewals
  • Tenants submits 30 day notice, by us postal. They are referred to www.TenantRequest.com
  • Find reason for moving
  • Marketing process starts
  • Move out inspections
  • Security deposit submitted within 30 days
  • Prepare unit for next move in 72 hrs
  • Preliminary inspections during make ready process.
 

 Evictions
  • There are several types of evictions. If your manager can not explain them to you in detail, right on the spot, be careful using that manager.
  • If they do not comply to the eviction……..
  • Summons and Complaint To Renter
  • Turned over to an attorney for court dates, judgment, and order of restitution.

Collections
  • Small Claims
  • Sheriff Sales
  • Hunting Down Dead Beats


 Collecting rent
  • Rents received and deposited to trust account.
  • Reporting, all internet or us mail
  • Expenses, all internet or us mail
  • Spreadsheets if needed
  • Receipts of all bills, all internet or us mail
  • Explain in writing what’s going on
 

Reporting
  • Ledgers
  • Spreadsheets
  • Communications with Owners and Tenants.



How I receive incoming calls  
     and other forms of  
     communication from tenants,
     owners and tenant prospects.
 

Telephone system that connects and keeps a complete log of every call that comes in, even if its a hang up. 
 
  • Tenant caller ID
  • Owner caller ID
  • Vendor caller ID








 
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