Seems like a no brainer decision to personally show vacant properties. However, there are property management companies that do not personally show properties, which is a risky practice.  Just think of all the possible problems that could arise.  For instance, a tenant walks into your office, you give them the run down and check out a key. They then go by and look at one of your properties.  An obvious question would be: am I looking out for my client’s best needs?  Will this prospect ever bring back the key?  Will damage be done to the property?  Will duplicate keys be made? The list of unknowns can go on and on during a practice like this. 

On the flip side is the tenant’s perspective.  The prospective tenant’s time and needs should also be taken into consideration.  Are you showing that you value their time?  Why should they need to come to your office to pick up and return a key? How can you sell them on the idea of renting out your home over the competition or answer on-site questions if you are not there to provide an individual tour?

For obvious reasons, best practice dictates that showing vacant rental homes is the best policy bar none compared to just having the applicant check out a key and tour the property themselves. Do yourself, your client and a possible new resident a favor and demonstrate that you are a professional property manager.

Weatherizing Pipes for Winter

This winter season, performing the following advice can help prevent frozen or broken pipes:

1.  Drain all yard sprinklers.
2.  Disconnect all exterior hoses and cover the faucets with plastic faucet covers.
3.  Locate all pipes in unheated areas (i.e.:  garage, garden areas, etc.) and insulate them with foam insulation.
4.  When temperatures dip below freezing, cover crawl space vents, but remember to uncover them when the temperature rises.
5.  Turn on a small, steady stream of cold water using the interior faucet furthest from the water meter when the temperature reaches 20 degrees or less.
6.  To let warm air circulate around water pipes, open cabinet doors below the sink during  extremely cold weather.

What to Do if Your Pipes Freeze:

1.  Locate the frozen spot if possible and wrap the pipe with warm towels.
2.  Never use a hair dryer of flame to thaw frozen pipes.
3.  Shut off your water using the hand valve.  If you can’t get the water turned off, call your local utility company for assistance.

Steps to Take if You Will Be Gone for an Extended Period During Winter:

1.  Turn off the water main to the house.  Call your local utility company if you can’t find it or don’t have a hand valve.
2.  After the line is turned off, drain the pipes by running water through faucets and flushing toilets.  Turn off your water heater at the breaker.

Finding a professional that is a good match to steward your investment property can be a tremendous asset. Arming yourself with the knowledge to evaluate them can be a proactive way to ensure success in laying the foundation for a successful partnership and a profitable rental investment property. The following discusses some ground to cover with potential property managers, as well as other factors to consider prior to hiring one.

Professional Background
When interviewing prospective property management companies or a manager, it is best to get an overall picture of whether or not you are dealing with a professional. As in all industries, there are great, average and not so great people to chose to get the job done. In property management, there are licensed professionals and then there are unlicensed people who are still willing to manage your property for pay. In many states, if a person is going to manage a residential property for a property owner other than themselves, they must be licensed to do so through the state.

In addition to being licensed, it may be relevant to ask about other certifications, qualifications or memberships in professional associations. Often times, memberships and additional certifications demonstrate a professional’s investment, adherence to standards, heightened expertise and overall commitment to the industry in general. For a property management professional, a good place to start would be to find one that is a member of the National Association of Residential Property Managers (www.narpm.org).

Read the full article here

Being a landlord is not for the faint of heart. While rental property investment can be a rewarding and positive experience, the actual management of both the property and the tenant can quickly turn in to an overwhelming responsibility. Hiring a licensed, professional property manager can be a good solution for rental property owners that are inexperienced, overwhelmed or simply don’t have or don’t want to take the time it takes to manage a rental property successfully. The following list includes reasons to hire a residential property management company and explains why the benefits of hiring a professional far outweigh the costs.

A good residential property manager (PM) or management company can help increase your success and minimize your costs and risks, thereby making things simplified and possibly even more enjoyable for you.

See full article here.

You should! If you own a rental property and are searching for a property manager, be sure to ask about the specifics of management fees when interviewing management companies. Pioneer Property Management provides management services for one rate (a flat percentage of gross rent collected) and provides comprehensive services for that one rate, unlike many of our competitors. We have no surprises, mark-ups or tack-ons and we include everything in one monthly price. This fee structure is not only simple for us and saves us time, but it also saves the property owner lots of money!

Our Fee:
Our management fee is simply a flat percentage of the gross rent collected on a property. This means if there is no rent collected in a month, there is no fee to you! We also do not charge a lease up or start up fee to you. Many companies will call this a “processing” or “administrative” fee and will charge it to property owners upon first signing a management contract. In addition, we do not charge extra to coordinate routine maintenance, repair work or to pay the property’s bills. This is all included in our monthly fee. Again, check out the competition because this is how many other companies will collect extra fees from the property owner. Pioneer does not like to “nickel and dime their clients”. We not only like to keep things simple, fair and honest, but we see it as part of of our job!

Are you considering moving and aren’t sure whether you can sell your house for what you want in this current market? Are you considering renting your house out instead? If so, there are a number of things to consider before taking the plunge into Landlord-ship. The following lists a few things to think about prior to making the decision to rent your home. This list is not conclusive and you should consult with your tax attorney, realtor, property manager and your financial adviser before making a decision.

Read the rest of the article click here

Although we have been lucky here in Oregon so far this summer compared to most of the rest of the country suffering from extensive heat waves, we too can benefit from the following tips to reduce our summer electricity bill:

1. Keep Filters Clean
HVAC systems need clean filters to run at peak efficiency. Dirt and dust will hinder airflow and ultimately force the unit to work harder. Clean or replace filters as often as needed to promote efficiency and reduce overall electricity usage.

2. Program the Thermostat
If possible, give your AC a break during the work day. Shifting to warmer temperatures during the day in this summer season could potentially save the average household’s electric bill up to $180.00 per year according to Energy Star.

3. Seal up Cracks or Openings
Cooled air can escape through cracks in windows or door frames. Sealing up these openings with caulking and weather stripping keep your home better insulated not just during AC season, but all year round, thereby improving energy efficiency by nearly 20% according to Alliance to Save Energy.

4. Avoid Using Appliances During Daytime Hours
Limit the use of heat generating appliances such as the oven, dishwasher and dryer during the hottest parts of the day. The hotter the space, the harder the AC needs to work to cool the space. Save these chores for cooler times of the day to insure your AC won’t be overburdened during the peak hot hours.

5. Close Blinds
Closing blinds to keep out the sunshine and extra heat, especially Southern and Western facing windows, will help keep things cooler and improve efficiency.

6. Use Fans to Cool People
A breeze helps to make things feel cooler, just be sure to turn it off when you’re not in the room. Fans cool people, not rooms.

7. Unplug as Much as Possible
Anything that is plugged in is generating heat. Turn off things like cell phone chargers and computers when not in use. Standby power, especially for appliances, can generate up to 5-10% of residential electricity use.

8. Check Equipment Size and use Energy Star Guidelines
If you’re shopping for a new room or window air conditioner, check the Energy Star guidelines so you don’t overbuy one that is too big for the space. A too powerful unit will waste electricity.

9. Investigate Energy-Efficient Appliances
There are many incentives offered to those buying new energy efficient appliances. Do your homework and check out the following link: http://www.dsireusa.org/ for state incentives.

Every little bit really does help!

There’s a lot to consider when moving to a new town, and here at Pioneer we like to make the transition as easy as possible for you. One of the things we like to help you figure out is your lease. How long do you plan to stay in this new place? If you’re moving because of a new job maybe a one year renewable lease is what you want. If you’re moving to be close to school and plan to leave for the summer you probably only want a six month lease. Maybe you’re moving for fun, and have no idea how long you’ll be here. In that case we can rent you a property month to month without having to worry about a fixed time limit, so don’t fret. We have lots of experience and want to make your move as stress free as possible.

  It could be for fun, or for work, or school, but for some reason you want to move to Eugene. Maybe you’ve visited briefly, or used to live here, or have never even heard of it, but soon you’ll be a Eugenian and don’t know what to expect, but fear not! Thats why I’m writing this. To tell you a bit about our crazy little emerald city.
    Eugene is a unique place. Its just about bursting with plant life of all kinds due to an abundance of rain, but just because it rains a lot doesn’t mean you can’t have fun outdoors. In fact, many Eugenians love hiking, biking, and playing in the rain. People here are very active regardless of the weather. That being said, the first sunny days of spring are still seen as a reason to celebrate, and local parks become filled with people trying to catch those first rays.
    If the outdoors isn’t really your scene don’t worry. There’s plenty of other things to do. Eugene is home to at least four popular musical venues, and there are concerts happening weekly. Celebrations, festivals, and street fairs of all kinds are another regular occurrence. Bad at keeping yourself entertained? Don’t worry! There’s always something going on.
    If there were one thing I’d say is the greatest part of living in Eugene, its that it doesn’t matter who you are, what you do, or where you came from. Here, you can be anyone you want and people are ok with it. Eugenians are fun, happy, accepting people who take pride in standing out and being unique, so be who you want! Whether that means being a businessman or a hippie. A musician or a farmer. A street performer or a famous actor. I’ve seen them all right here in the Willamette Valley, so if you’re moving here don’t worry. I’m sure you’ll have no trouble finding exactly what you’re looking for.

Looking at the possibility of a job change or other move? Is it possible that you are in a situation where you know that selling your home is not an option? Maybe you are considering putting your house up for rent and becoming a landlord and or hiring a property manager?

Consider these items before you make a decision:

1. Do you live in a rental community? Are there enough individuals and families that are moving in and out of the area on a regular basis? Maybe you live near a university or military base that has people transitioning in and out of the area.

2. Are you prepared to handle tenant and maintenance related issues. Even if you have a newer home there are many factors and costs that will come up. Some of those items you have been dealing with as a home owner, may not be able to be put off when looking for or having tenants in your home.

3. Do you have funds set aside? Maintenance? Non Payment of rent by the tenants? At a minimum you need to have a month to six weeks of funds set aside for turn overs or If your tenant stops paying the rent.

Keep in mind that you may also want to turn to a property manager for help. While just about everything is tax deductible on a rental home, including property management fees, insurance, mortgage interest and repairs, you need to be sure that you are doing it right and have an exit strategy in place down the road.