Archive for February, 2009

The Essential Things to Do When Renting an Apartment

Searching for an apartment can be a full-time job in itself and is very daunting, especially if you can’t find the right apartment by your move out deadline. Ideally, start looking for your new place at least 30 days form when your lease is up. This will help you avoid choosing a substandard apartment, out of compulsion, just to have a place to live. Your city may have many apartments, but choosing the right one, in the right part of town and in the right neighborhood is very important. Taking care of some important things will help you make searching for your new apartment less of a hassle.

The Essential Things to Do When Renting an Apartment:

· Planning

It is the initial step required when you have decided to start looking for a new apartment. Planning will help you identify the basic things required for a hassle-free move into your new rental home. It is a road map that will keep you on track to finding your next perfect apartment home. Planning ahead keeps you on target to achieve your moving date, helps you find the right location, the right type of apartment and amenities you need and a strategy that will give you success in your apartment search. First, start searching by informing your friends and co-workers that your are searching for an apartment. This will give you some excellent leads because recommendations by others, especially people you know, often leads to finding a very good apartment home.

· Executing

Once you have a good search strategy in place, it time to implement that strategy. First, go online to the many apartment search sites and begin compiling a list of possible apartments. Once you have an exhaustive list, begin making calls to the property managers to find out which properties have apartments available. Once you have a list of apartment communities that have units available, organize your list by location in order to save you time and money when you go out to look at these apartments. While you’re out, keep an eye out for vacancy signs. Get the information from these signs and write down the apartment information like the exterior, cleanliness, parking and pets. If it passes the visual inspection, make a note and then call the apartment manager to see if the rest of the apartment information meets your living requirements.

· Meet the Management

Apartment mangers are usually available on weekdays. Some are available on weekends. When you meet with the office manager, be aware of how friendly and helpful they are. Inform the manager that you are responding to the ad you saw. The office manger should let you know when the apartment will be available, and offer any information about the complex and surrounding neighborhood. During this visit with the property manager, this is your time to look at the unit, and ask questions, do not assume anything. Write down what you liked or did not liked about the apartment.

· Thorough Analysis

Searching for an apartment is a time consuming venture. You’ll need lots of patience. You’ll make lots of calls. Remember, not every apartment manager will call you back. Press on and don’t get discouraged. Everything is first come, first serve. Keep your options open. Just because you turn in an application, does not mean you have to take the apartment. Try to speak with the residents to get a real assessment of what it’s like to live there, or go online and read apartment reviews from the previous tenants. Do thorough research before making a decision. Remember, you’ll be locked into a lease for at least 6 months, so make the best possible decision you can. Take your time to decide.

These essential things will help you make the right choices and help you enjoy living at your new apartment.

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Renters Beware | A Good Apartment Manager is Key

A good manager can make the difference between a dream home and a nightmare hovel. Surprisingly, most people overlook a very crucial part of the apartment-finding process when they forget or just don’t think to interview the manager about whichever property they are considering. Most people don’t realize what the manager does within an apartment building or complex.

Suffice it to say, a good manager is one who has their tenant’s well-being and comfort as their number one priority. Think about it, if you rent your home and something goes wrong, whether it’s a toilet that’s blocked up, a sink that’s leaking, or your carpet that needs re-stretching. These are things that your manager has to take care of; and there are plenty of horror stories. Some managers are unscrupulous and delay repairs beyond all reasonable time frame, leaving you stranded.

How do you avoid such messy situations? Easy. Before you commit to a place, arrange a sit-down with the on-site manager and ask some pointed questions about the building’s maintenance and general functionality.

* Who do you call when you have a problem that needs fixing?

* What’s the standard response time to a reported problem?

Ask these questions and, when you tour you’re the complex or building, look over the general cleanliness of the place. Signs of decay on the walls, for example, and well-weathered, scraggy carpets, even cracked and uneven tiles are common in poorly maintained properties. If the property is poorly maintained, even in the common living space, chances are strong that the management is less than committed to their job.

When you decide to live in rented accommodation, you need to know you’ve made the right choice about your living space. You need to know your interests are taken care of; that you won’t be left stranded should there be a problem in your building or in the complex. When you find this kind of security and commitment from the complex management you’ll enjoy a great, problem-free, rental experience.

The property manager’s role is to help you with any problem relating to you home. She should also look out for your safety and general well-being and she should offer you a solid guarantee that your living environment will remain safe, clean, and healthy. A well-run apartment complex has staff dedicated to constantly improving the amenities. Upgrade features such as in-unit ceiling fans and screen doors are very desirable and will help you efficiently maintain the comfort level of your apartment while minimizing your power bill.

A final closing tip – ask your manager if you can see the “Policies and Rules” charter for the complex. You want to enjoy a quiet and cozy living environment and a good manager gains the cooperation of all the residents with a written charter. Remember it’s not just the place but more importantly it’s the people. Be sure to interview your property manager and guarantee that your apartment rental is a super, satisfying experience.

How to Avoid Hiring a Bad Property Management Company

In Southern California, especially Orange County property management is an important aspect of investing in real estate.

The profitability of your property is dependent on hiring a qualified helpful and professional property management company. Hiring the wrong management company can mean losing thousand of dollars, or more. Property owners who hire the right property management company however, can enjoy the benefits of a lucrative property investment. Some of the most common, and often, detrimental mistakes a property owner makes is not doing enough research. The more research you do, the more you can avoid hiring a bad management company.

Property management companies that also sell properties, often nation wide corporations like Century 21, etc. are often a bad idea. They usually are primarily real estate agents, who also do property management because they want to manage when you choose the sell the property. A property management company like this is not a good idea because they make more money selling than managing. You would benefit more from a smaller, specialized company that deals only with property management in your area and nothing else.

For example, if your property is in Huntington Beach, you should try to find a local expert Orange County property management company that has a much experience in the local area only. Make sure you check the references of your management company’s other clients. Don’t be afraid to make a few phone calls, and get a good track record. You shouldn’t sign anything before you have a good idea that the company you’re hiring is the best at property management and one that you can trust. On the other hand, as an owner, you shouldn’t be too demanding of references either. A good property management company will not release all of their clients’ information to you,

Because it is private and confidential information. The management company won’t be making an obscene amount of money managing your property, so they can always tell you to take your business elsewhere if you are being too much of a pain. You will do well with around 3 references to talk to, and get an idea of how they work with their clients. Some other things to keep in mind: Is the company licensed in your state? Is the company insured? Do they have a fidelity bond to protect you in case an employee mishandles your money? Will they provide you with reports? Will they market your property? How do they deal with late charges? How do they handle tenant complaints? And so on. These are some tips for making sure you hire a good property management company that will professionally and efficiently manage your property, helping you turn your home/apartment/condo/commercial property into a steady investment.