Posts Tagged Changing Career

RENTAL PROPERTY MANAGEMENT – 24 HOUR NOTICE OF ENTRY

What do you do when need to access your rental property but are unable to coordinate schedules with your Tenants? There are times when you need to get into your property to make repairs, show it to prospective Tenants, show it to prospective buyers or just to inspect the property and you can’t get a hold of your Tenants. We suggest that you go by the property and post it with a “24 Hour Notice of Entry” This is a legal document which tells the Tenant that in approximately 24 hours, you will be coming into the property to; and then you state your purpose.

Now you have to be judicious with the use of the 24 hour notice and not use it every week to go into your property. Your Tenant is entitled to the quiet use and enjoyment of the property. If you are using the notice to have repairs done… always accompany your workmen into the property. Also, it is a best practice that if/when you enter a Tenant’s property, that you have someone accompany you. In our our litigious world, this is for your own protection. It is also a good idea to try to contact your Tenant “one more time” before you enter the property. Also, document all the attempts you made to reach them or access the property.

You will be amazed at how when your Tenant receives their 24 Hour notice, they are miraculously available to meet you there!

In conclusion If you can’t reach your Tenant for access to the property, post a 24-Hour Notice of Entry, document all attempts to communicate with them and be sure that you accompany your workers when you/they go in.

To view a short video on this same subject CLICK HERE

For our 24 Hour Notice of Entry form or more down-to-earth tips on how to effectively manage your rental property, visit our web site at: ManageToMakeMoney.com.

Thank you for reading!

Pat & Kris

 

, , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

RENTAL PROPERTY MANAGEMENT – RETURNING SECURITY DEPOSITS

Many people don’t know that if you fail to return your Tenant’s security deposit within the time frame allotted by your particular state . . . there can be some very serious consequences.  As an example, let’s assume that your state mandates that you are to return your Tenant’s security deposit to them within 21 days (3 weeks).  In many states, if you fail to return the deposit within that time frame then first, you will lose the right to charge the Tenant for anything!  It doesn’t matter if your Tenant owes you for three months of rent, late charges and they tore up your property . . . by returning the money late . . . you waive your right to charge the Tenant for anything at all.  But wait . . . there’s more!  Also, in many states if you miss the deadline, your Tenant is entitled to TWO TIMES the amount of security deposit.  Translation: if the Tenant paid a $2,000 security deposit and you miss the return date, you could have to pay them $4,000 AND not be able to charge them for any back rent or late fees owed or for repairing any damage they may have done to your property!   So be sure to check the specific laws in your state.  A good place to start is to google “tenant landlord laws (insert your state’s name)”

This tip is part of the scores of information contained in our Property Management Training Program; Manage to Make Money . . . . the Real Estate Series.  This new series has been developed around our book: Manage to make Money . . . Your Guide to Profitably Managing Rental Properties 2nd Edition.

To view a short video about returning security deposits click on this link.

To visit our website and see our large selection of books, e-books, downloadable forms and documents, videos and tips go to: www.ManageToMakeMoney.com

Thank you for Reading!

Pat and Kris

, , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

RENTAL PROPERTY MANAGEMENT – TENANTS BREAKING THEIR LEASE

Tenants Breaking Their Lease

One thing which occurs more often in Rental Property Management is Tenants breaking their lease.

Let’s face it, life happens and Tenants break their leases for many reasons . . . they can’t pay any longer and are skipping out or, it is generally something less sinister like . . .  getting a great deal on a short sale and just learning that they have to close in 2 weeks . . . YIKES!!  Either way, you have to know the Tenant’s and your responsibilities when this happens.

As you probably already know, the Tenant has the responsibility for the rent through the end of the term of the lease as stated in their lease agreement . . . and to leave all the utilities on and pay for them until the property is re-leased (if you used our lease form).  You, as the Landlord, if you want to be able to collect any rent through the end of their lease term, must immediately and diligently market the property for lease again.  Be careful not to market the property at a higher rent amount than the previous Tenant paid or you may have difficulty in collecting money for lost rent in court if . . . you “Jacked the Price up” which is how a judge may see it.  You will only be entitled to the lost rent between the time your previous Tenant vacated or last paid rent and the beginning of a new lease with your new Tenant . . . no double dipping!

The subject of Tenants breaking their lease along with many other property management challenges are covered extensively in our new Property Management Training Program; Manage to Make Money . . . . the Real Estate Series.  Click here for a workshop near you: Workshop.  This new series has been developed around one of our books: Manage to make Money . . . Your Guide to Profitably Managing Rental Properties which is now available for California laws as well as many states in the Midwest.  It is a virtual Survival Guide for anyone managing Rental Properties!

Imagine yourself having challenges with your rental property . . . NOW imagine yourself having a solution to nearly all of your rental property issues!   Visit our website at http://www.ManageToMakeMoney.com and check our books, e-books, documents, forms and checklists and much much more!  You never knew that life managing rental properties could be this easy!

Click on this link for a short video about what to do when Tenants break their lease:  Tenants Breaking Their Lease

Thank you for reading!

Pat and Kris

, , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

RENTAL PROPERTY MANAGEMENT – EARLY TENANT MOVE IN

Few of us would ever allow our Tenants to move in before their lease begins but . . . many of us do unwittingly!

Would you ever knowingly allow your Tenant to move into your property early?  Perhaps unwittingly.

Think about this scenario for a minute:  You have rented your property and the lease begins on the 1st of the month which is a Sunday.  For our convenience, many times, we may be inclined to give the Tenants the keys on a Friday or Saturday, so that we don’t have to do it early Sunday morning.  What happens so many times is that the Tenant is excited about their new place and now that they have the keys they go by just for a look . . . just to “breathe it in”.  When they get there, they remember those two boxes in the back of the car . . . “Gee, if I get those out, then I can start with an empty car on moving day.” Once those boxes go from their car to the house or condo, technically, they have “moved in”!

Now, let me ask you, what is the effective for their renter’s insurance?  Chances are, it doesn’t take effect until the 1st.  why would it start sooner?  Without that date (the now NEW move in date) being covered in their lease or their renter’s insurance being in effect . . . you, the Landlord, are liable for any damage, or injuries they may occur during that time between when they moved the boxes in until the lease start date on the lease!

To solve this issue, we always wrote the lease to begin on the day we gave them the keys and, required the Tenant to have their renter’s insurance effective on that date also.  You don’t necessarily need to charge them for the extra days rent . . . just cover yourself legally and from a liability perspective.

In summary, think through the date relating to move in dates and “possible” move in dates.  You might just save yourself some heartache.

To view a video on this same subject click on this link:  Early Move In

If you have any questions about this subject, fell free to contact us via our free service; ManagementLink.  Simply click on the link and type in your question or issue.  We will get back to you within 24 hours with an answer.

Thank you for reading!

Pat & Kris Larkin

We have founded and developed “Manage To Make Money” which is a resource for anyone, novice or professional who manages rental properties.  We provide Books, Documents and Forms, Live Seminars, E-Books, Free Webinars, Tips and Private Consulting.  Check it out!

Manage To Make Money – Cottonwood Falls, Kansas 949-689-4344, Info@ManageToMakeMoney.com

, , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

TENANTS – ALWAYS GET A CREDIT REPORT

Screening prospective Tenants can be difficult but here are a couple of tips that will help you to minimize your risk of getting a bad Tenant.

One of the main elements in screening your Tenants is to get a credit report. There are many other ways to check out your tenants but a credit report will do the best job of surfacing potential issues in their ability to pay rent and in general will help you to sort through your applicants. You can get a credit report in a couple of different ways; First, is to have your prospective Tenants run their own credit report. But be careful, free credit reports are available but rarely have a credit score. A credit score is key. Without the credit score you are subjected to reading through reams of credit information… some good and some not so good and having to figure out if this applicant is a good risk or not. The credit score will do all of that for you. Secondly, you can find many companies on the web that you can sign up with to run credit reports for your applicants. These companies will of course check you out first to be sure that you are trustworthy enough to be dealing with such sensitive information and that you will get the proper authorizations from your applicants.

As to what credit scores are good and bad; that depends on your market but I can give you some very rough ideas: a stellar credit score is 800+ and a score in the 500 range is going to be due to a lot of late payments, possibly judgments or even a bankruptcy.

In summary, a credit report will “tell the tale” about your Tenants. Be careful though not to be too restrictive; these are tough economic times we live in and you need to hear everyone’s “story”.

To view a short video on this subject go to: http://bit.ly/eCprVn

Thank you for Reading!

PAT & KRIS

Visit our website at: www.ManageToMakeMoney.com to see the full array of rental property management resources as well as our latest current live seminar schedule.

, , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

PROPERTY MANAGEMENT – PAYMENTS – SECURITY DEPOSITS – SOFTWARE

Payments From Owners

 There are many instances when you will have to have your Owners infuse their account with funds.  This situation occurs for a number of reasons: the property has a monthly negative cash flow; you have just had to do some major repair (replacing the furnace or air conditioner); a major remodel after a long-term Tenant vacated, or something as simple but expensive as paying property taxes.

Buffer amounts

First of all, let me say that we strongly recommend that you maintain a buffer amount (minimum $500.00) in each of your Owners’ accounts.  This will give you the flexibility to take care of small repairs without having to have your Owner send you a check, and depending how much of a positive cash flow the property may have, you can replenish the buffer fairly easily for that.

Infusions

Holding on to the idea that Owners (as is the case with all of us) do not like surprises about money . . . unless we have won the lottery!  Now, emergencies happen and usually, they are difficult if not impossible to anticipate.  But I am speaking here about the expenses that the Owner is going to have on his property that we can anticipate: long-term Tenant moving out, real estate taxes (they’re always due on the same date – year after year) or a special assessment from the HOA.  When we can anticipate these expenses we need to be proactive in estimating how much they will be and when our Owners will need to send funds.  This will accomplish a couple of things:

1.) It gives your Owner a warm fuzzy feeling to know that you are watching his back and keeping him from having unpleasant surprises and 2.) It gives you the funds from which to pay the expenses.  Otherwise you could find yourself in the unenviable position of having done $10,000 worth of work on an Owner’s property and when you call him to get the funds you learn he is in Zimbabwe for 2 months . . . or worse yet, he thought that the expenses were going to be less and he doesn’t want to pay the $10,000 and now wants to negotiate the amount with you . . . YIKES!

Dunning Letters and E-Mails to Owners for Funds

 We have had very good luck with sending e-mails out (to our Owners that do e-mail) when we need funds.  You may think this is very elementary but before you tell your Owner that you need more funds, be sure to do your homework.  What do I mean by that?  You don’t want to send your Owner an e-mail telling him that you need $1,500.00 to pay for the new water heater if his property is running $100.00 negative cash flow each month and he has no reserve buffer left.  If you don’t say something about the negative cash flow and the status of his account, you will just be asking for more money again next month.  This makes the Owner feel like you are not on top of your game (which you aren’t) and causes both of you more work in the long run.

Again, be proactive with your Owners and anticipate what their cash position looks like.  Act like it is your money and how you would want to be treated.  If I had the above scenario, I would tell the Owner that I needed $1,500.00 for the water heater (as we discussed previously) and the negative cash flow on the property has run through his reserves.  We would like an additional $500.00 to replenish his reserve account and $600.00 to cover the next six months of negative cash flow at $100.00 per month.

Maintaining Security Deposit Liability Integrity:

 When a Tenant pays you a security deposit on a property, that is a liability that you will maintain in the Owner’s account.  The purpose of the security deposit is so that you have funds (security) in the event the Tenant fails to pay the rent or leaves the property damaged when he or she moves out.

When there is a cash need for repairs or whatever else on an Owner’s property, there is the temptation of the Owner to see that cash in their account and want to use it to pay those expenses.  If you allow them to use it, this is a very, very slippery slope to allow yourself to step onto.  For a couple of reasons: 1.) unless you document it well and in writing, after a few years, our memories fail us and our Owners are no different, they will typically not remember using that security deposit to pay operating expenses from and 2.) as property managers we are required by law to notify the Tenants that we are no longer holding their security deposit; that the Owner is, and give them the Owner’s contact information.

Now we, as property managers, are the Owner’s agent and the security deposit does belong to the Owner, we are just holding it for them.  If the Owner insists on using this money, we recommend that you go about this in the following way:

  1.  Write a check to the Owner for the full amount of the security deposit and mail it to him with a letter explaining the transaction and a copy of the letter you are sending the Tenant.
  2. At the same time send a letter to your Tenants advising them who is now holding their security deposit.

It is important that you not go back and forth with this transaction; giving the deposit to the Owner, putting it back in the account, back to the Owner, etc.  First of all, this will breed a lot of insecurity and concern on the part of your Tenant and secondly, it is a lot of work and liability for you!  If you are going to do this, we advise that you tell your Owner (put it in your management agreement if you want) that you will make one transfer of the security deposit and that is it.  Something to think about, given enough time and aggravation it won’t be long before your State’s Department of Real Estate will be conducting an audit of your trust account.  That could be right up there on the fun scale along with root canals and IRS audits!

Software

 There are a lot of very good fully integrated property management software programs on the market today.  When I say fully integrated, I use the term loosely as these various programs are integrated to varying degrees.  In general terms, there are programs on the market now that will take care of the accounting for your Owners; interface with your word processor so you can write letters to Owners or Tenants and it will file them with the property; and will keep a rent log for single or multiple properties.

This is the teaser. We will be discussing software programs and their pros and cons in the next chapter.

 

I hope you enjoyed our various topics today.  Next we will start some discussion on “systems” used by property managers . . . don’t miss out!

If this information has been helpful to you, visit our website for more resources to help you profitably manage your rental properties!

Thanks for reading!

Pat & Kris Larkin

 

, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

MANAGING PROPERTY FOR OTHERS – DELIVERING STATEMENTS AND PAYMENTS TO OWNERS

Delivery of Statements – Mail Hard Copy vs. e-mail

 When our company started all of these processes and procedures . . . it seems bizzare to say it but . . . there was no internet or e-mail.  All of the monthly statements along with all of the backup copies of invoices were packaged, posted and mailed out to each of our Owners.  With the advent of e-mail and good quality scanners, we were able to move toward e-mailing our monthly statements to our Owners.  The only thing that held us back was our Owners; many of whom were a bit technologically challenged and “didn’t do e-mail”.

As we moved forward though, we pushed to make the change.  I am a big believer in processes and the more processes you have for the same outcome, the less efficient you are.  I know that the time is quickly approaching when this will no longer be an issue and electronic delivery will be the standard for all property owners.

If you are just starting a property management firm, this is an awesome opportunity for you.  You can start from the beginning sending your statements out electronically . . . and not be faced with converting to the new technology that will undoubtedly be here all too soon!

 

Payments to Owners

 Assuming that our Owners’ property had a positive cash flow, we paid a disbursement out to each of our Owners at the time we issued the statements.  Our software had a default setting that basically told it to send the Owner any remaining cash in the account after all expenses have been paid.  This is not always a good thing; if you have a system like this, you want to be diligent to keep an eye on future anticipated expenses.  Let me tell you it is not fun to have sent an Owner a bundle of money one month, then the next month you are trying to pay his real estate taxes and you don’t have enough money in the account.  You then have the opportunity to ask the Owner to send the money back to you.  This is not good for your credibility!  We could also go into our system and set a cash minimum that we wanted to maintain in all of our accounts and it would automatically send the Owner anything in excess of that amount.  It is all a matter of how you want to set it up.

Like mailing out hard copies of statements and technology marching on, making payments to our Owners has also undergone some changes.  In the early days, we sent out live checks each month to our Owners.  Now, with the advent of ACH or; Automated Clearing House, we can electronically transfer funds from our trust account to our Owners’ bank accounts, minimizing live checks, mail problems, etc.  Again, we still had those Owners (probably the same ones that “don’t do e-mail”) “who don’t do electronic deposits”.  We continued to work with them knowing that “someday . . . this too shall pass!”

 

Our hope and prayer is that this information has been helpful and sparked some thought processes for you.  To discover more resources for managing rental properties for yourself or others, visit our website and check out our Books, Documents, Forms, Checklists, Videos  . . .  available in hard or immediately downloadable versions.

Thank you for reading!

Pat and Kris Larkin

, , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

MANAGING RENTAL PROPERTIES FOR OTHERS – Statements and Payments to Owners

Monthly Statements

 One of the purposes of property management we was to provide accurate accounting for our Owners, and part of that is to provide them with monthly statements.  As we mentioned previously, a property management firm must set up and maintain a “Fiduciary Trust” bank account for all of the monies for the properties it manages to flow through.  In our company, we had the rent revenues as well as mortgage, HOA dues, maintenance and a multitude of other expense payments for over 320 properties flowing through this account.  Keeping it all straight is paramount!

Regardless whether you manage one property for an Owner or five, you will need to provide all of your Owners with a monthly statement.  This statement spells out all of the income, expenses, disbursements to or from the Owner, operating profit or loss, and the beginning and ending cash position for each individual property for each month.  You will send out each statement, along with copies of all invoices paid for the period and the Owner’s check (assuming they have positive cash flow) or advice of deposit in their account.

Cutoff times and statement dates

 This has been an issue that was a difficult one for us to get our arms around.  We all have different needs, and while we were building the company, like any other fledgling small business, we attempted to accommodate everyone’s needs.  Some Owners needed their disbursements by the 10th of each month and others were OK so long as they received it before the first of the month.  Consequently, we set up two statement dates for our Owners; one on the 10th and the other on the 25th.  This became very labor-intensive as we found ourselves always dealing with statements and statement issues.  We later learned that if people want your service, they will adapt to your processes and procedures, so we changed to one statement date of the 25th for all of our Owners.  OK, we still had some of our oldest clients, (some had been with us for many years and others had been on this earth for many years and others . . . both!) who we maintained a 10th of the month statement date for their convenience.  Though that number continued to decrease!

We set up our statement date of the 25th of the month so that we could manage our clients’ expectations as well as exceed them.  You remember I mentioned that most of our Owners needed their funds before the 1st of each month?  Well, that is why we set up the 25th as the date we specify in our contract.  We promised that they will always have their money by then.  Now, to exceed their expectations; internally, we worked with a 20th statement date.  Due to the calendar and the tricks it plays on us from time to time, we may miss that and go to the 22nd or so, but with few extenuating circumstances did we ever miss the 25th and nearly all of the time we exceeded it!  Which of course kept our Owners happy!

It is all well and good that we talk about a statement date of the 25th. So what?  What that really means is that behind the scenes we have to have a cutoff date for all transactions between the 15th and the 17th of the month, depending on where the dates fall on the calendar.  That means all rents have to be in; all payments made including mortgages, taxes, HOA’s and even security deposit refunds.   Otherwise, we will need to run a supplemental statement for that property for that month.  If we don’t, there would be a gap in the information on the statements from month to month.

 

If this information has been helpful to you there is a lot more where it came from!  Visit our website for more books, videos, downloadable e-books and live seminars near you.

Thank you for reading!

Pat & Kris

, , , , , , , , , , , , , , , , , , ,

Leave a comment

MANAGING RENTAL PROPERTIES – Owners and What Type of Properties to Manage

While you will have your ways of doing business and many regulations that you cannot stray from, to be successful managing properties for others, you will need to know how to adapt and work with their personalities.  That is not to say that you be totally co-dependent on your Owners, but learn how they like to do business and make your best efforts to conform your practices to their idiosyncrasies.

Our philosophy is that the Owner has hired us so that they don’t have to deal with the day-to day-issues of managing properties.  We try to spare them the gory details of the everyday stuff, but then involve them in the bigger decisions.  At what level your Owner wants to be involved in the details, you will have to just learn and figure that out.  We suggest when you are having your initial conversations with your Owners that you ask them some qualifying questions on this subject before you enter into a management agreement.

Qualifying questions for potential Owners

1)    While we will always attempt to contact you whenever we have to spend money for service, we normally will respond to a service request under $100.00 without having to speak directly to you.  We may leave a voice mail or an e-mail to let you know what is going on.  Does that work OK for you?

2)    Do you have e-mail?  Are you willing for us to use e-mail as our primary method of communication?

Their response will give you a better idea as to whether or not you should do business together.  If they aren’t going to be happy with you, you certainly are not going to be happy with them!

Types of Owners

 The Involved Owner:  Some Owners are very detail oriented and want to be involved in many aspects of the management of their property.  Others want to be involved to a fault and may attempt to micro-manage or second-guess your actions.  You may find yourself asking the question “Why does this person want a property manager?”  There are a couple of issues at play here;

1.) Some people are simply very involved until you have proven that you are trustworthy and they are convinced that you indeed have their best interests at heart.

2.) Others are simply control freaks and no matter what you do, will be in your business all the time.  With this second type of Owner, you will have to do some soul searching as to whether or not this is a positive situation for you.  If it works OK, then great.  If not, then there may be another property manager out there who it works fine for.  That may be the best solution for both of you; to end the relationship sooner rather than later.

The Uninvolved Owner:  On the other end of the spectrum, we have Owners who don’t want to hear about their property.  They just want a monthly statement and a deposit in their bank account.  The less they hear from you the better.  While this type of Owner has a lot of positive attributes, this is the Owner that you also want to be very proactive with. You don’t want to pester them with details . . . remember, they hired you so they wouldn’t have to deal with all that stuff.  However, be proactive with your communication with them, and this is true for all of your Owners.  Document your actions in writing either by sending them an e-mail or by leaving them a voice mail and documenting it in a communication log.   How technologically savvy they are will determine which method of communication you use.  The uninvolved Owner can be a bit disarming at times.  Don’t think their seeming lack of involvement means a lack of interest.  The truth is they are very interested in the outcome of your management of their property.  Continue to keep good records and keep them informed, even if they appear uninterested.

Be Dialed In to the Type of Properties you are Willing to Manage:

 While this is a personal decision, we want to share some pros and cons we have observed in this area.  We are not making a character judgment about any of the groups listed below.  These are simply our observations as a result of our experiences in working with all of the groups.

 White Collar Properties:

Also defined as high-end properties, these can attract very good renters.  These renters have typically owned expensive homes and as a rule will take very good care of your property.  On the other hand, our experience is that the high-end renter can have a very entitled mentality and can be difficult to work with.  Things like requesting and scheduling maintenance, seemingly pretty simple things can become very challenging with these tenants.  Another aspect of the high-end tenant is that if you don’t meet their expectations, they do have the resources to come after you legally. White collar renters will typically have more financial resources and are executives or self employed.  You will find them to be fairly well insulated from an economic downturn.

 Gray Collar Properties:

These are properties in the middle of the economic spectrum rented by the gray collar worker.  What is a gray collar worker?  I’m glad you asked!  It is typically a middle management person; the manager of the local electronics, or grocery store.  This renter is generally conscientious and will take care of your property.  They are typically regular people and most all adults in the home are working full time.  They are generally easier to work with than the white-collar renter when it comes to requesting or scheduling maintenance work.  They possess moderate financial resources and will be somewhat insulated  from an economic downturn.

 Blue Collar Properties:

This renter is at the lower end of the economic spectrum.  They usually work in the trades, i.e., construction worker, car mechanic or truck driver.  Generally, all adults living in the property work full time.  They are also just  regular people and are generally easier to work with than the white-collar renter when it comes to requesting or scheduling maintenance work.  They possess more limited financial resources and will be the first tier to be affected from an economic downturn.

 Don’t Let Fear Deter You:  If at anytime during your due-diligence/interviews with an owner you get that gut feeling that this guy just ain’t going to work out . . . heed the warning!  This could be anything from not having a good connection with your communication or that he wants you to manage a type of property that you are not set up for.  We are all different and there is nothing to be ashamed of in that.  There are people that I am just too different from and will have difficulty doing business with in a way that will make them happy.  Conversely, there are people out there that are just different enough from me that they would have a tough time keeping me happy either.  Embrace your differences and rather than being fearful that you will lose face or be embarrassed, nip it in the bud!  Do both of you a favor and save a lot of heartache and hard feelings; decline to do business with them.  Perhaps you could refer them to another property management firm.

So, how do you do that?  I learned a great technique from my pastor, of all people.  I simply tell the prospective owner that based on our conversations, it is apparent to me that we may not be a great fit for one another.  There are a lot of great property management companies out there and I am sure that one of them would be a better fit for their needs than I can be.  I wish you the best of luck.  And . . . don’t let them talk you into it . . . you know what your gut just told you!  HEED THE WARNING!!

Thank you for reading!!

Pat and Kris Larkin

For more information and resources for profitably managing your rental property visit our Website

, , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a comment

THE CURRICULUM VITAE AND MARKETING

Curriculum Vitae:

The curriculum vitae.  What the heck is that?!  It is a form of a resume that is used in several industries especially, education.  It is becoming more widely used in other industries.  The reason I bring it up is that it was an invaluable tool for me as I made my own transition from property management and homebuilding to writer/presenter/educator.

The reason I like the curriculum vitae is that it still contains the billboard feature (although less prominent) and it affords itself to your work experience.  However, it puts an equal or even greater focus on relevant experience and studies, which relate to the position you are seeking and less focus on past employment.  This is a great tool for helping to bridge the gap between two different careers.

Take a look at our Curriculum Vitae sample in the appendix at the end of this chapter to get a better idea of what I am talking about.

In general, the same rules apply to the Education section as we discussed in the resume discussion.  Just list the schools attended and degrees earned.  If you didn’t finish college, as I did not, just list the schools you attended. I don’t call attention to the fact that I didn’t get my degree.  The people looking at this are smart and will ask you about it if it is important to them.  If it is a non-starter for them, then it is.

Work Experience – Just list the dates, company names and position held for each firm . . . no more and no less.

Special Certifications/Affiliations – This is a great place to show how all your trainings and so on help you to be an asset for this company.  List everything here that you think will be relevant.  You will see in our sample in the Appendix that I have listed specific trainings and general things that will also cross over to any industry.

Presentations and Teaching – I created this section for my own needs because it demonstrated that I had exposure to teaching, speaking and presenting.  This section is basically a place for you to list accomplishments, which are relevant to the position you are seeking.  This is the place where, again, you continue to tie your accomplishments and experience forward to the position you are seeking.  Leave no stone unturned.  Sit and write down everything you have done and see how you can present it positively.  For example, my boss used to have me get up in front of our company at retreats and spend 2 minutes updating everyone on the progress of my project.  I listed that in this section as “Periodic Presentations to Company at Large”.   For a position in property management, you may want to head this section something like “Significant Projects Led and Completed” or “Significant Areas of Leadership”.

Publications – This is pretty self-explanatory.  If you have created, or been a part of creating any publications, list them here, and if not, delete the section.

Skills and Qualifications – This is nothing more than a mini billboard at the end of your curriculum vitae.  Use this to again sell the viewer on your incredible skills and qualifications, whether they are speaking, communication, or organizational skills.  This is also a good section to list computer literacy and competence with certain software and social websites.

References – This is no different from the resume: I subscribe to the idea that in your first exposure to folks, your mission is to make that great first impression.  It is not to overwhelm them with paper work.  I don’t include references with my resume but I do tell them that I will provide excellent ones if they would like.  Again, if this is an important issue for them, they will ask.

For a sample of our Curriculum Vitae, please see the appendix at the end of this chapter.

 

Marketing:

In the ever-changing landscape of the Internet, possibilities for marketing yourself are endless.  I won’t pretend to know all there is about Internet marketing and all the ins and outs.  For that you need to consult with some real gurus who do know the ins and outs of job search and marketing yourself on the Internet.

What I will share with you is this; most jobs are gotten through networking.  Once you have your resume or curriculum vitae all dialed in, it is time to get it out there.  I would recommend that you network to find the best places to post your resume/cv.  There are a lot of folks out there, not limited to friends and family, who have had experience with this and can steer you clear of the ones you don’t want to use.  Of course, they can also steer you to the good ones who worked best for them.

The usual suspects come to mind: LinkedIn, Facebook and Twitter.  Get on these sites as soon as you can and increase your exposure as much and as quickly as you can.  Also, look for groups within the various web sites.  For instance, LinkedIn has a property management group as well as a discussion group for just about anything you can think of.  Use these groups to learn more about your field and start building a reputation for yourself as someone who knows what you are talking about.

Another avenue for building your reputation is writing.  For some of you, this may not be something that is part of your gift set, but if you don’t do it, you are missing out on a great opportunity to get your name out there and continue to build your reputation.

One of the avenues for writing is your own blog.  This is really easy with any of the zillion blog sites out there.  Another place is Ezine.com.  It is a website where you can write and publish articles on any subject and they have a built-in readership who will be exposed to your articles.  You do have to agree to (among other things) allow their other subscribers to use your articles as long as they give you credit for them.  One cautionary note here, if the purpose of your writing is to be a part of your marketing plan for yourself and your new career,  limit the subject matter of your articles to the field to which you want to transition.  If you want to write on other subjects, great . . . knock yourself out . . . but do it under a different name . . . add an initial or something.  Keep your job marketing pure to your field.

 

Thank you for reading!

Pat & Kris

 

For more information about Kris and Pat Larkin or for more resources for residential Property Management, visit their web site.

, , , , , , , , , , , , ,

Leave a comment