1 Bart Sturzl, MPM®, RMP® Be a Professional 2 Definition pro·fes·sion·al adjective following an occupation as a means of livelihood or for gain pro·fes·sion·al·ism.

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Presentation transcript:

1 Bart Sturzl, MPM®, RMP® Be a Professional

2 Definition pro·fes·sion·al adjective following an occupation as a means of livelihood or for gain pro·fes·sion·al·ism noun 1. Professional character, spirit, or methods. 2. the standing, practice, or methods of a professional, as distinguished from an amateur.

3 The 3 Keys Know the Owner Know the Property Know the Tenant

4 Know the Owner Competition Contracts ROI Insurance & Risk Management Communication Is There a Fit

5 Competition Who are They What do they Charge What are their Strengths & Weaknesses What’s in Their Contract How are you Different

6 Contracts When is the Last Time You Read It Will it Stand Up

7 ROI ((Return - Capital) / Capital) × 100% = Rate of Return

8 Insurance & Risk Management Does the Owner Have the Correct Policy Are you Listed as Additionally Insured Additionally Insured / Additional Interest

9 Communication Try to Find Out What Generation / Phone / Text / Fax

10 Is There a Fit Have They Been Managed Before? Can You Communicate With Them? Will They Maintain The Property? Are They Current On Payments?

11 Know the Property Laws & Ordinances Market Area Statistics

12 Laws & Ordinances National State Local

13 Market You Need To Know Your Market

14 Area Set Boundaries Types Of Properties You Manage

15 Statistics Vacancy Rate Days on Market Renewal Rate Average Rent

16 Know the Tenant Application Screening Lease Eviction Deposit Itemization & Collection

17 Application Authorization to Collect Information Ask the Right Questions Follows Fair Housing Is it Complete?

18 Screening Credit Criminal Sex Offender Data Evictions Employment Rental History

19 Lease When is the Last Time You Read It Will it Stand Up

20 Eviction Every State is Different, Know Yours Court Writ Treat Tenant Fairly and with Respect

21 Deposit Itemization & Collections Photos Documentation / Inventories Ask Yourself, What would the Judge Say Fair Collections Act

22 The Professional Property Manager OwnerTenant Property

23 Bart Sturzl, MPM®, RMP® Be a Professional