Wojciech Kic, the founder of MANAGERENTHOUSES, has published several articles which have become well-known in the property management world. They appeared originally in the Enricher, Houston Business Journal, San Antonio Business Journal and re-appear here by permission. These articles are filled with insights into human nature and the art of property management. They are based on the experience of managing over 5,000 individually owned rent houses over the last 30 years.
In retail, year-end holiday themes frequently address business profit margins. The ever- recurring theme is the all-important “After Thanksgiving Friday,” commonly viewed as an indicator of economic progress. The year-to-year sales comparisons validate not only the strength of the economy, but also the success of new marketing approaches to reach the customer. This year the […]Read More
Many details impact the bottom line in the operation of a rental property. In equally good or bad rental markets, the cost of property insurance, utilities and repairs will impact the cash flow. In a slow rental market, where no mistake goes unpunished, a management error may cause a premature sale or a bankruptcy. Of […]Read More
A so-called security deposit is a common feature in a real estate rental transaction. Typically, before the commencement of the lease agreement, the landlord asks for and tenants pay a deposit for excess wear and tear on a rental property.Tenants who own pets are expected to pay an additional deposit for pet damages. Upon termination […]Read More
One of the most popular methods of controlling expenses for a rental propertyinvolves the use of a so-called “maintenance deductible.” In a nutshell, a maintenance deductible requires a tenant to pay to the landlord a fixed portion of most maintenance expenses at a property.The amount of the maintenance deductible is typically defined as a whole […]Read More
Landlords undertake several important steps to create a profit in a rental property. Starting with a vacancy, the landlord must commit the necessary amount of time and financial resources to complete the make-ready maintenance, advertise the property, show it and interview the prospective tenants. After finally receiving a verbal commitment from a prospective tenant to […]Read More
The landlording business of owning and managing single family houses is supported by the cash flow generated by the rents paid by the tenants. It is no wonder that the lease clause stipulating the rent due date is the foremost clause of the multi-page lease agreement.The lease agreement also stipulates tenant penalties for late rent […]Read More
Prospective rental property owners consider many factors before entering the landlording business. Initially, the future landlord must determine the cost of purchasing the property, the cost of financing, the likelihood of leasing the property, and the amount of the monthly rent. Once the property is purchased, the owner who is now a landlord must prepare […]Read More
When describing Houston to our out-of-town visitors and friends, we are sometimes short for words that describe the uniqueness of the city. For example, we have a distinct skyline . . . but so do many other great cities. We have public parks and theaters . . . but there are towns that have more […]Read More
A cash flow start-up of a single family house rental is dependent on a number of sequential events. A landlord must acquire a property, make it market-ready and secure a tenant who will pay rent for the landlord’s efforts. Each landlording (read: management) process is further divided into a number of subparts that, when completed […]Read More
Effective marketing of a single-family house for lease includes installation of a “For Lease” sign and placement of a classified ad.These two equally important steps will generate about 90 percent of all tenants? inquiries.The remaining 10 percent of the tenants? inquiries are best described as poor quality, tire-kicker interest. In other words, if a landlord […]Read More
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