Monthly Archives: July 2014

Budget- Friendly Resident Renewal Incentives

IncentiveGiftWhen renewal season rolls around, how are you enticing your residents to stay in your units for another year? Incentivizing Chico tenants to renew their lease while staying within your budget can be a tricky balancing act. By providing residents with perks they actually want, you’ll save the time and money needed to turn over a unit. Here are some renewal incentive ideas you can try to stay within your budget and make your tenants happy.

Cash is the best renewal incentive

Even if you aren’t able to give your residents a free month of rent, offering a discount can go a long way. Software Advice, a source for property management system reviews, found in their survey of renters that 52 percent of residents prefer incentives in the form of cash or spendable rewards. A $50 discount or a “rent coupon” your residents can apply towards rent is a practical way to show your residents that you appreciate them.

Schedule a unit upgrade

Rejuvenate your residents’ unit with a new paint job, or have them choose from a range of colors to paint an accent wall in the apartment. A new coat of paint can make a big difference in helping an apartment feel bright and new at a budget-friendly cost. Another low-cost service you can offer is a free carpet cleaning.

Offer discounted or covered parking

A covered parking spot, or one closer to your residents’ unit, is a great incentive for renewing residents, especially in regions with cold winters. If you charge for parking, a monthly discount is another reward you can offer while staying within your budget.

Pass on your cable or Internet discounts

If you own a large apartment building, you may qualify for referral discounts or rewards for the residents you refer for cable and Internet services. Talk to the provider to see if you can pass on discounts or upgrades to your renewing residents.

Offer a renewal menu

Reward your residents’ loyalty by offering them a renewal menu to choose from. Include items like carpet cleaning, paint touchups, or a gift certificate to a local restaurant. You’ll be able to keep the choices within your budget, and residents will appreciate the freedom to pick their own rewards.

Chico property managers don’t need to pull out all the stops to convince residents to renew. Renters will be much more willing to renew the lease if they know the management is fair, courteous, and responsive. In addition to offering your residents practical incentives, remember to show residents how much you value them throughout the year with great customer service.

Firework Safety Tips for the Holiday!

American-Flag-in-the-SunFIREWORKS SAFETY TIPS:

If you plan to use fireworks, make sure they are legal in your area.
Be Extra Careful With Sparklers

-Little arms are too short to hold sparklers, which can heat up to 1,200 degrees. How about this? Let your young children use glow sticks instead. They can be just as fun but they don’t burn at a temperature hot enough to melt glass.

-Closely supervise children around fireworks at all times.
Take Necessary Precautions

-Do not wear loose clothing while using fireworks.

-Never light fireworks indoors or near dry grass.

-Point fireworks away from homes, and keep away from brush, leaves and flammable substances
Be Prepared for an Accident or Injury

-Stand several feet away from lit fireworks. If a device does not go off, do not stand over it to investigate it. Put it out with water and dispose of it.

-Always have a bucket of water and/or a fire extinguisher nearby. Know how to operate the fire extinguisher properly.

If a child is injured by fireworks, immediately go to a doctor or hospital. If an eye injury occurs, don’t allow your child to touch or rub it, as this may cause even more damage.
HAVE A HAPPY FOURTH OF JULY!!

5 Tips to Help You in Your Final Walk Through Before Buying a Home

House HuntingYou’ve found the home you love, made the offer, and the seller has accepted. You’ve gotten your inspections done, your loan is being finalized and an escrow closing date has been set.

Great. But you’re not quite finished yet.

Your next step is a final walk-through, arranged through your real estate agent, at least a week before closing. The goal: Ensure the property’s condition hasn’t changed since your last visit, that any agreed-upon repairs have been made and that the terms of your contract will be met. Depending on your contract or local customs, a walk-through may be informal or more formal. In a formal arrangement, you will actually sign a contract addendum confirming that you’ve done your walk-through and everything is as it should be.

Here’s what you need to know for your final walk-through:

1. A final walk-through isn’t a home inspection. You’ve already done that by now (or should have).

2. Take your contract with you. You might need to refer to it while on site.

3. In many markets, the buyers and sellers never actually meet in person. But if everyone is agreeable to the idea, perform the final walk-through in the seller’s presence. He or she knows the home better than anyone else and should be able to answer your questions and provide some color on the history of the home.

4. If the home is vacant, it’s even more important to do a final walk-through. Since your last visit, for instance, someone might have left a faucet dripping, inadvertently causing water damage.

5. Take along a checklist of things to do during the final walk-through, including:

-Check the exterior of the home, especially if there have been strong wind or rain storms since your last visit.

-Turn all light fixtures on and off.

-Make sure the seller hasn’t removed any fixtures, such as chandeliers, that he or she agreed to leave behind.

-Check all major appliances.

-Turn heat and/or air conditioning on and off.

-Turn on water faucets; check for leaks under sinks.

-Test the garage door openers.

-Flush all toilets.

-Open and close all windows and doors.

-Do a visual spot-check of ceilings, walls and floors.

-Turn on the garbage disposal and exhaust fans.

-Check the status of any agreed-upon repairs.

-Check screens and storm windows. If they’ve been stored, make sure you know where they are and that they’re in good shape.

-Look in storage areas to make sure no trash or unwanted items remain. Old paint cans or hazardous materials are often left behind by the seller.

-Do a quick check of the grounds. Some sellers have dug up and taken plants (even small trees or bushes) with them.

 

Taking an hour for one last inspection is a good investment in your time. After all, you don’t want to spend the first weeks in your new home cleaning up or making unexpected repairs.