Thomas Martin-BROKER, PROPERTY MANAGER Property Manager in Sacramento, Folsom

The market is right for buyers out there and we are reaping the benefits of providing exemplary service through the acquisition of new accounts via referral. These are not just any referrals. Instead, they are our absolutely favorite kind of new business- 2nd generation referrals.

In just the last 2 months, a former tenant of ours went on to become an investment property owner and signed up their rental with us in Antelope. Their reason? They stated: "We remembered how thorough you were on qualifying us for the rental, and how responsive you were throughout our tenancy, so we could think of no one better suited to manage our first rental." Fancy slogans and marketing dollars aside, nothing tops an earnest compliment for hard work done properly.

This month, we have two 2nd generation referrals. One was from an owner that referred his best friend (after a flawless 2 years of property management), the other from a father referring his daughter's first rental. I can't decide which makes us happier, knowing that we provide the kind of service that has our clients referring their own friends and family, or the thought that one day we just might manage for our owner's grandchildren. It's times like this when you know your doing things right.

In today's fast-paced industry, when everyone is trying to work smarter, it is good to know there are rewards to be had from simply working harder. To all of our supporters, from referring agents and top selling professionals, to each and every client that believed in management "the way it should be", to every vendor that gives our clients the quality service they've come to expect at prices they can afford, we say thank you.

Investors Choice Property Management (ICPM) is a small, service-based property management company serving the greater Sacramento and surrounding area. Our business is over 95% word-of-mouth, we do absolutely NO SALES, and pay among the highest referral fees available for management accounts. We charge NO MARKUP on any repairs, and believe in complete transparency with the public, as our services, fee structure and contracts are available online at our website www.investorschoicepm.com. ICPM is a proud member of NARPM (National Association of Residential Property Managers), as well as an honored affiliate of the SAR (Sacramento Association of Realtors). Stop getting lost in the shuffle or treated like an account number, and get ready to...

Experience Property Management The Way it Should Be.

As I sign up our latest new client, I pause to reflect on why they chose our company over our larger competitors. Month after month, our advertising budget is dwarfed by the monstrous amount of marketing money spent by larger companies, yet time and time again we come away with the new account after careful comparison of services and fee structures. But it is more than that...

In the end it was our old mainstay, customer service, that won the day on this occasion. The client, an investor with a home in West Sacramento, called around to several companies, yet ours was the only one to respond in 2 hours or less, standard policy for us. We booked the appointment right away for the weekend, and had the sign in the ground with pictures on the web in less than 24 hours.

Monday night we got an after hours call- it was our new client. They had come to town to perform some minor maintenance at the property and had forgotten their key. We answered the phone at 9:30pm and provided them access via our lock box, providing a little extra service while cementing the relationship with the knowledge that they made the right choice for their property management needs. It was another good day.

I enjoy providing personalized services to our clients, while ruining them for any future "cookie cutter" company with generic policies and procedures. I have heard the saying before "we must be doing something right, because look how many homes we manage". It begs the question "yes, but how well do you manage?"

Everyone measures their success differently- some by the number of zeroes on their paycheck, others by the quantity of business they generate. At ICPM, we measure our success by the quality of the business we run each and every day for our 112 satisfied customers and their well-qualified tenants. In my opinion, if you take care of EACH and EVERY ONE of your clients and treat them with the courtesy, diligence and respect they deserve, the money is incidental.

Investors Choice Property Management (ICPM) manages 112 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, we do NOT markup repairs, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say: “Experience Property Management the Way it Should Be.”

As a small, service based property management company serving the greater Sacramento area, we are often asked how our company is doing during these uncertain economic times.

While our new client acquisitions are somewhat lacking, they really are not doing any worse than same time last year. We continue to receive inquiries from prospective new clients, but most are looking for services to start in the late Spring or early Summer.

Historically, property management not only does well in a down sales market, it thrives. However, this market has impacted more than just the sales prices of homes, so we are experiencing some of the secondary effects. Fortunately, we have not lost a single tenant due to layoff or owner due to foreclosure (knocking on wood). Our small account base (110 units) remains solid despite the slowdowns we see all around us.

It is during times like these that I am thankful we chose to remain small and focused. I would never want to be in the position of having to cut someones pay or lay them off because the company's revenue could no longer support them.

Our referral program remains intact and is perhaps our most successful marketing tool. Because we do no sales, we are able to secure referrals from competing sales offices. We pay a $400 referral fee per client, and agree to refer that client back to the agent that sent them to us for any future buying or selling they wish to do.

Recently, an owner of ours asked us for a recommendation on a sales agent, forgetting that an agent had referred them to us. We saved the listing for the referring agent by sending his former client back to his doorstep, over 1.5 years after the initial referral to us. With one call, this agent secured a vital service for his client, earned a $400 referral, while building a base of future sales leads.

If you or someone you know has questions about property management, we are always happy to lend an ear.

Investors Choice Property Management (ICPM) manages 110 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, we do NOT markup repairs, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say:

“Experience Property Management the Way it Should Be.”

The FTB has agreed to use 2009 as an educational year to get ready for full compliance in 2010. While this decision comes as a relief to small business owners like me, it is short-lived as we will be facing this issue again in 2010. Property Managers for out of state owners earning more than $1500 in a calendar year are required to remit 7% of net proceeds to the state on a quarterly basis.

Unless we see shift in the political winds later this year, we will take steps to protect our clients from the effects of this tax code revision as best we can. So far, the 2 best options on the table for avoiding the withholding are as follows:

1. Set up the tenant to pay the rent direct to the owner, and have the owner establish a reserve to pay for management and maintenance costs.

2. Set up the owner's account to pay all home-related expenses (mortgage, utilities, etc.) so that the net proceeds to owner is less than $1500 per year (no withholding required).

Investors Choice Property Management (ICPM) manages 110 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, we do NOT markup repairs, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say: “Experience Property Management the Way it Should Be.”

Recently an unhappy applicant posted their thoughts in a comment on our blog, so we thought it best to touch on an important subject that has or will impact many landlords- the decision to rent to a friend or co-worker.

Applicants Mr. & Mrs. "Smith" submitted applications to rent a home of ours in Elk Grove. Mr. "Smith" was a co-worker/friend of the owner, so certain concessions that would not normally be allowed were approved by the owner in order to make the move-in go as easy as possible on the applicants. The rent was reduced along with the pet deposit, and 4 month financing was approved to pay off the security deposit.

From the onset, we felt that our clients were being taken advantage of, in that the applicants were already getting a home at a serious discount, along with generous financing terms on the security deposit, pet deposit, etc., yet they neither acknowledged nor appreciated any of the concessions they were being given. In the end, they were unable to come up with the move in money in a reasonable period of time and were subsequently rejected.

Fortunately, we were able to secure well-qualified applicants (with no pets, a higher rent, and no financing issues) within a very reasonable period of time.We harbor no ill-will to the "Smiths", though it was plain to see they took the news of their rejection for the property very poorly. Hopefully they found a suitable home and a landlord willing to work with their unique situation.

When considering a friend or co-worker as a tenant, it is important to establish clear boundaries so the lines between the business relationship (landlord/tenant) does not blur with the personal relationship (friend/co-worker). This is an area where property management can really come in handy. As property managers, we are paid to look past the personal relationship and make decisions for the long-term health of our clients' investments.

In over 16 years as a property manager, I have been called upon to evict my fair share of problem tenants. It is an unfortunate truth that many new clients that come to us for service after trying to self-manage fit a standard profile- they thought they could do it themselves, they thought their friend/relative/co-worker would make a great tenant, and they found out the hard way that it was not the case.

Investors Choice Property Management (ICPM) manages 110 single-family units with the care and diligence our Landlord clients deserve, in a manner that has them referring their friends, co-workers and family members. With over 16 years professional property management experience, our business is 95% word-of-mouth referral, we do NO Sales, we do NOT markup repairs, and pay among the highest referral fees in the industry for management accounts. Visit our website at www.investorschoicepm.com today for more details, and find out what we mean when we say: “Experience Property Management the Way it Should Be.”