When is a 1-Star Review on Yelp a Good Thing?

When is a 1-Star Review on Yelp a Good Thing?

For many people, Yelp is the go-to online review site for finding a great restaurant or the hottest bar in town. Increasingly, it is also used to find good doctors, lawyers or home service providers. All of the above searches will have a plethora of 4/5- star reviews and any listing below 4-stars often gets passed over by the most committed Yelp user. After all, why patronize a business that other people don’t love? Sometimes that is EXACTLY the business you want to hire, especially in residential property management! Our company Mesa Property Management Inc. (www.mesaproperies.net) currently has a 3.5-star rating on Yelp and trending LOWER. We have either 1-star reviews or 5-star reviews and very few in between. Although we hate to get 1-star reviews the ones we do get are almost always from applicants we have denied. People turned down on a rental property because of their credit profile or past references are particularly hard to respond to because we cannot disclose any information about our decision online as it would be a violation of the applicant’s privacy. It’s like getting sucker punched and not being able to defend yourself. We all have three basic needs to survive: Food Clothing Shelter When you deny somebody one of these three basic needs, they will often want to lash out. Yelp is a great place to vent and give only one side of the story. To get a more complete picture on a potential property management company, go to sites like Google+ & Angie’s list. Typically these sites are used more by owners instead of disgruntled applicants and tenants....
What’s the Best Time of Year to Buy a House?

What’s the Best Time of Year to Buy a House?

Renting out a property can be a great way to make extra money. However, the process of buying a second property and finding tenants can be difficult and confusing. Here are some tips for what time of year you should buy a property and how to navigate through the process of renting a house.   Buy Property in Fall or Winter When considering purchasing a property, the time of year that you buy the property can have a large impact on how much you pay. Most families prefer to move during the summer, so parents do not have to pull their children out of school in the middle of the year. This causes more houses to be on the market during the spring and summer. While it may be more convenient to buy a home during the summer, you can save a significant amount of money if you buy during the fall or winter. While October is the best month to buy property on average, all of fall and winter tend to be advantageous times to purchase property. Since 2000, RealtyTrac has analyzed more than 32 million sales of single family homes. From their research, they have found that on average buyers have gotten the best deals in October. Business Insider explains that housing prices are lower during this time because there are fewer buyers, so sellers are more willing to settle on lower prices. It tends to be more difficult for homebuyers to search for a new house during the fall and winter due to colder temperatures, less sunlight in the evening, and the start of the school...
How Property Managers Can Help Tenants Celebrate the Holidays

How Property Managers Can Help Tenants Celebrate the Holidays

The holiday season is a great time to foster relationships with your tenants and to promote strong relationships throughout your housing community. When deciding on decorations and holiday events, consider the demographics of the people living in your properties. Since the holiday season causes almost everyone to feel stressed, this is one of the best times of year to give your tenants a hand and show that you care about them.   1. Ask Ask specifically what your tenants need help with during the holiday season. Even if they say that they do not need help with anything, they will know that you care about them during this busy time of year.   2. Decorate If you plan on using holiday symbols such as Christmas trees or menorahs, be sure to keep in mind the religions of your residents. Often times, it is best to use secular but festive decorations. Use decorations that focus on the winter season, such as snowflakes and snowmen, rather than decorations that correlate to a specific holiday. Hang lights in the trees outside or off the roof of the building. Use a simple, attractive color scheme for lights such as silver and gold so that the decorations do not seem overwhelming. Make sure to avoid cluttering your building with ornaments. Instead, choose simple and elegant decorations. Your decorations should help welcome home current residents as well as attract potential residents who see your building.   3. Host a Holiday Party If you manage an apartment complex or multi-family units, hosting a holiday party is a great way to foster community and show your appreciation...
How to Start Investing in Real Estate

How to Start Investing in Real Estate

Investing in Real Estate In short, real estate itself is property. That property can consist of land, buildings, and homes. When people engage in real estate, they’re dealing with the investment of that property. Many times the goal of investing in real estate is to make a profit. By investing in properties and then renting out to tenants or selling the property, you can get a return on the investment. Below, we’ve provided some insight into how to start investing in real estate.   What Your Property Means to You To get into real estate, you should understand the value of the property your planning to invest in. Real estate can be risky if people aren’t aware of the actual worth of their property as well as that of the surrounding properties. When investing in a property, you’ll want to consider a variety of things, including the condition and potential of the property, as well as the location. Property values and how much one can sell for or rent for is dependent on the area. The best way to make a smart investment is to educate yourself as much as you can about the desired property and the real estate market in the area.     Rent or Buy and Sell When you rent out a house, you have the potential for steady returns. When renting out or buying, homes can decrease in value over time due to age and deterioration, but they can also increase in value. If you buy a home in a city and the city develops, and property prices and values go up, there’s a...
Top Questions to Ask Property Management Companies

Top Questions to Ask Property Management Companies

Congratulations! You finally have some property you can call your own. You don’t have to deal with realtors, landlords, or anyone that can ask you to pay rent. Now you’re probably wondering what to do with the property. Answer: hire a property management company. In other words, welcome to real estate. It’s overwhelming to deal with it on your own, so most people in this situation hire real estate agents and companies to help them deal with the property. So how do you choose who to hire? Below are some of the top questions to ask property management companies 1. What types of properties do you manage? This question in itself will help you determine whether or not you’re going to spend more than five minutes with the manager with who you are speaking. If they don’t ordinarily deal with your type of property, be it land or buildings, chances are you don’t want to hire them. There’s a wide variety of property to work with, so it’s important to find someone who has experience with your specific type. 2. How long have you been a property manager? Experience in property management is certainly something you do not want to look over. You want someone you can trust to manage your property well. While you might want to give a newcomer a chance, you’re more likely to choose a 20-year veteran in the real estate business to manage your property than someone that only recently started in the industry and has limited experience. 3. How many properties do you manage? This is a loaded question. Someone can boast that they’ve...
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