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 TENANT BACKGROUND CHECKS: LITTLE KNOWN WAYS TO AVOID COSTLY MISTAKES an interview with Jeff Cronrod, CEO, Fidelity Information Corporation Jeff Cronrod isn’t just the CEO of one of the largest national tenant screening firms; he’s been a landlord for more than thirty years. “My company also owns a collection agency, so I see what happens when things go wrong, and I’ve seen it all,” Jeff remarks. “The sad thing is you see the same mistakes over and over. Seven Vital Tips To Help You Collect Your Tenant Debt – Part Six of our Seven Part Series by Bill Gray, Fidelity Information Corporation
Your debt recovery may depend on what you do before the tenant moves in!Get the right information from your prospect before they move in, and you will always increase your chances for debt recovery on the back end. TIP NUMBER SIX Background Check Co-Signers. One way to rent to someone with questionable credit or rental history is to require a co-signer. But avoid the common mistake of accepting a co-signer without checking their credit and rental history. It is crucial to collection to have the co-signer complete a rental application and sign an iron-clad agreement. In fact, it is extremely important for every adult moving into the apartment to complete an application and sign the lease. This gives you far more leverage and ability to collect any future debts. Miss the other tips in our series? Click here for TIP ONE Click here for TIP TWO Click here for TIP THREE Click here for TIP FOUR Click here for TIP FIVE Come back soon for Tip #7 - we will be adding a new tip every week. If you would like to be notified of new tips, please subscribe to our blog by clicking the box in the upper right side of the site. In need of debt collection? Call 303–938-8280 or send an email to collection@joinaaoa.org. Write the word “COLLECTION” in the subject line. Premium and Premium Plus members receive discounts on debt collection. Sign up now, or upgrade your membership to enjoy the savings. Premium Plus members receive a copy of Real Estate Investment Secrets, twelve interviews with industry leaders, including “How to Collect Debts When Your Tenant Leaves Owing You Money” by Jeff Cronrod, CEO of Fidelity Information Corporation. To find out how to purchase Real Estate Investment Secrets,visit www.joinaaoa.org. AFFORDABLE PROPERTY MANAGEMENT SOFTWARE: NOW EVERY LANDLORD CAN HAVE THE RIGHT TOOLS
Why Develop a Property Management Software? Tenant File software grew from the need for an affordable, easy to use management software. “Actually,” Wayne says, “it grew out of the frustration of a particular property manager, one of Tenant File’s co-developers, who owned and managed multiple properties, but was unimpressed with the current software.” At the time, there were only about three property management software programs available, and only one of those was affordable. The Trouble with Property Management Software Most property management software was hard to use, and expensive. Heavy marketing efforts were passed on to the customers. In addition, these companies required the customers to purchase costly updates, even if they were happy with their existing system. This problem brought management software out of reach for the owner with a few properties. How could you justify the cost? Affordable Property Management Software By focusing on an easy-to-use and efficient system, eliminating high-pressure sales and expensive trade show marketing, Tenant File became a property management software that makes sense for every manager, regardless of the number of units. “We streamlined our sales department because we can sell through referrals, Internet sites and industry reviews. We spend our money on talented programmers that make sure everything runs smoothly, and on a our well-trained customer support group, although most users understand the software right away from the documentation and built-in help file.” Direct deposit and on-line rent payment will soon be available on Tenant File. For more information regarding Tenant File, visit http://www.tenantfile.com/. Check back for more information on the features of Tenant File Property Management Software. American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org. CD series, Real Estate Investment Secrets, twelve exclusive interviews with industry experts that will supercharge your ability to locate the best investment properties and manage or sell them for maximum profit. To read Part One of Real Estate Investment Secrets, “How to Buy, Reposition and Resell Income Properties for Maximum Profit”, by Daron Campbell, Managing Partner, RE/MAX Commercial Real Estate, click here. To read Part Two of Real Estate Investment Secrets, “Finding the Right Real Estate Broker”, by David Potarf, Director, National Multi Housing Group, Marcus and Millichap, click here. To Read Part Three of Real Estate Investment Secrets, “Secrets of Evaluating and Selecting Undervalued Properties”, by Ron Brock, Sr., President and CEO, Pierce Eislen Real Estate Investment Secrets is available exclusively through the American Apartment Owners Association. To purchase a copy, visit www.joinaaoa.org. Join as a PremiumPlus member, receive all the benefits of membership, and this CD series is our gift to you. Sign up to receive our posts by submitting your email in the box provided in the upper right corner.
SECRETS OF EVALUATING AND SELECTING UNDERVALUED PROPERTIES an interview with Ron Brock, Sr., President and CEO: Pierce Eislen
Subscribers receive current and complete information on specific properties with 50+ units, and current market conditions for the area with a few clicks of the mouse. While their services are available of any area, Pierce Eislen directs its attention to the West, the Southwest, and it currently expanding into the Southeast, specifically Dallas/Ft. Worth. Ron’s first rule of thumb: “Each market is either improving or declining. A market may be improving slowly or declining rapidly, but it is never static.” An investor needs to identify their objectives, and find the corresponding market.
Within the markets identified as consistent with an investor’s objectives, Ron finds a submarket with potential properties.
While Ron finds some potential properties from broker listings, over half of the properties sold are off-market.
Want to read more of Ron’s secrets? This exclusive interview is included on the American Apartment Owners Association’s CD series, Real Estate Investment Secrets, twelve exclusive interviews with industry experts that will supercharge your ability to locate the best investment properties and manage or sell them for maximum profit. Real Estate Investment Secrets is available for purchase from American Apartment Owners Association. Join as a Premium Plus member, and receive all of the benefits of our association including Real Estate Investment Secrets as our gift for joining. Visit www.joinaaoa.org for more information. Check back for next week’s feature, “Tenant Screening: Little Known Secrets to Avoid Big Mistakes,” with Jeff Cronrod, CEO of Fidelity Information Corporation. Missed Part One, “How to Buy, Reposition and Resell Income Properties for Maximum Profit” with Daron Campbell, Managing Partner, RE/MAX Commercial Real Estate? Click here. Missed Part Two, “Finding the Right Real Estate Broker” with David Potarf, National Multi Housing Group: Marcus and Millichap? Click here. American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org. Sign up to receive our posts by submitting your email in the box provided in the upper right corner. Interested in commercial financing. See our blog feature Two Reasons to Invest in Commercial Properties with Jeff Mack. Seven Vital Tips To Help You Collect Your Tenant Debt – Part Five of our Seven Part Series by Bill Gray, Fidelity Information Corporation
Your debt recovery may depend on what you do before the tenant moves in! Get the right information from your prospect before they move in, and you will always increase your debt recovery on the back end. TIP NUMBER FIVE Avoid the “Company Name” Scam. If your prospect says “I would like to put the apartment in my company’s name,” your mind should hear “RED ALERT! “ It is a common scam for people with bad credit or rental history to try to rent under a company name to prevent you from running their credit.
Miss the other tips in our series? Click here for TIP ONE Click here for TIP TWO Click here for TIP THREE Click here for TIP FOUR Come back soon for Tip #6 - we will be adding a new tip every week. If you would like to be notified of new tips, please subscribe to our blog by clicking the box in the upper right side of the site. In need of debt collection? Call 303–938-8280 or send an email to collection@joinaaoa.org. Write the word “COLLECTION” in the subject line. Premium and Premium Plus members receive discounts on debt collection. Sign up now, or upgrade your membership to enjoy the savings. Premium Plus members receive a copy of Real Estate Investment Secrets, twelve interviews with industry leaders, including “How to Collect Debts When Your Tenant Leaves Owing You Money” by Jeff Cronrod, CEO of Fidelity Information Corporation. To find out how to purchase Real Estate Investment Secrets,visit www.joinaaoa.org. Finding the Right Real Estate Broker an interview with David Potarf, Director, National Multi Housing Group: Marcus and Millichap
What Makes a Great Real Estate Broker?If you are an owner, a good broker should have already found you,” David Potarf responds. “They should have been sending you news of closed transactions in your area, of current listings that help you monitor the value of your property and decide when to sell.” What if you have more than one prospective broker – how do you choose? “Many people choose the top-listed broker, but that’s not the only option, and not always your best option,” Mr. Potarf continues. “Maybe the top seller is too busy right now to give you the attention you need. The number five broker may be just as capable, and more willing to give you their time. They should be touring buyers personally, and responsive when you call.” In this interview, David Potarf discusses:
This exclusive interview is included on the American Apartment Owners Association’s CD series, Real Estate Investment Secrets, twelve exclusive interviews with industry experts that will supercharge your ability to locate the best investment properties and manage or sell them for maximum profit. Real Estate Investment Secrets is available for purchase from American Apartment Owners Association. Join as a Premium Plus member, and receive all of the benefits of our association including Real Estate Investment Secrets as our gift for joining. Visit www.joinaaoa.org for more information. Check back for next week’s feature, “Secrets of Evaluating and Selecting Undervalued Properties” with Ron Brock, Sr., President and CEO: Pierce Eislen. Missed last week’s feature “How to Buy, Reposition and Resell Income Properties for Maximum Profit” with Daron Campbell, Managing Partner, RE/MAX Commercial Real Estate? Click here. American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org. Sign up to receive our posts by submitting your email in the box provided in the upper right corner. TENANT BACKGROUND CHECKS: WHAT EVERY LANDLORD NEEDS TO KNOW
These are the reports available for your tenant background check:
In addition to these reports, it is critical that you demand a completed application from every prospect, and interview them face-to-face. If something seems “fishy” with this new prospect, it probably is. Don’t discount your instincts! Did you know that your chances of collecting tenant debt may depend on what information you collect before the tenant ever moves in. Read our series,Seven Vital Tips to Help Collect Tenant Debt featuring collection expert Bill Gray of Fidelity Information Corporation. American Apartment Owners Associations members can receive discounts on tenant background checks. Check out www.joinaaoa.org to find out how to maximize your savings! Do you have any tenant screening questions? Click below and add your comments.
Seven Vital Tips To Help You Collect Your Tenant Debt – Part Four of our Seven Part Series by Bill Gray, Fidelity Information Corporation
Your debt recovery may depend on what you do before the tenant moves in!Get the right information from your prospect before they move in, and you will always increase your debt recovery on the back end. TIP NUMBER FOUR Check Their Driver’s License. Make a photocopy of the prospects’ driver’s license and Social Security card. It is not uncommon for a bad ex-tenant to avoid a bad reference by claiming identity theft and saying he or she “never lived there”. Copies of these documents will be crucial in identifying the debtor and collecting your money. Miss the other tips in our series? Click here for TIP ONE Click here for TIP TWO Click here for TIP THREE Come back soon for Tip #5 - we will be adding a new tip every week. If you would like to be notified of new tips, please subscribe to our blog by clicking the box in the upper right side of the site. In need of debt collection? Call 303–938-8280 or send an email to collection@joinaaoa.org. Write the word “COLLECTION” in the subject line. Premium and Premium Plus members receive discounts on debt collection. Sign up now, or upgrade your membership to enjoy the savings. Premium Plus members receive a copy of Real Estate Investment Secrets, twelve interviews with industry leaders, including “How to Collect Debts When Your Tenant Leaves Owing You Money” by Jeff Cronrod, CEO of Fidelity Information Corporation. To find out how to purchase Real Estate Investment Secrets,visit www.joinaaoa.org. HERE’S HOW LANDSCAPING SAVES YOU MONEY
Landscaping can help reduce energy consumption, lowering costs for both you and your tenants?Paved areas, (the alternative to landscaping), can generate an immense amount of heat, which in turn increases cooling costs in the summer.
For energy efficient landscaping, follow some simple rules:
Not a member of American Apartment Owners Association? Visit www.joinaaoa.org and find out how to save money on all of your apartment management needs. We offer discounts on many services, including commercial finance, tenant debt collection, background checks, insurance and much more. Any landscaping tips to share? Post your comments below.
HOW TO BUY, REPOSITION AND RESELL INCOME PROPERTIES FOR MAXIMUM PROFIT an interview with Daron Campbell, Managing Partner: RE/MAX Commercial Real Estate
How did he do it? This UCLA graduate studied economics, then spent some time with Marcus and Millichap, focusing his attention specifically on the commercial market. “In L.A., there are always more renters than there are apartments. It was clear that the commercial market would always be growing.” Daron quickly caught on to what he describes as “inefficiencies” in the commercial market. While one building owner charges $700 a month for a typical one bedroom apartment, the owner across the street is commanding $850 for a similar unit. “There are great discrepancies in the perceptions of building owners as to the actual potential of the property.” But what an owner determines to charge for rent will affect all the factors for valuation: gross rent multiples, costs per unit, costs per square foot, and even the capitalization rate calculation. A property commanding low rents, even with a tired appearance, can often be repositioned for a profit in as little as 18-20 months. Hear more about Daron’s strategies, including:
This exclusive interview is included on the American Apartment Owners Association’s CD series, Real Estate Investment Secrets, twelve exclusive interviews with industry experts that will supercharge your ability to locate the best investment properties and manage or sell them for maximum profit. Real Estate Investment Secrets is available for purchase from American Apartment Owners Association. Join as a Premium Plus member, and receive all of the benefits of our association including Real Estate Investment Secrets as our gift for joining. Visit www.joinaaoa.org for more information. Check back for next week’s feature, “Finding the Right Real Estate Broker”, an interview with David Potarf, Director, National Multi-Housing Group: Marcus and Millichap. American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org. Sign up to receive our posts by submitting your email in the box provided in the upper right corner.
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Take advice from someone who knows the tenant debt collection business:
WG Software, Inc., has been providing its Tenant File Property Management Software for over 12 years to more than 15,000 property managers. President Wayne Gathright credits the success of Tenant File to his company’s direct focus on the needs of property managers, supplying both the personal support and the features they want. 
As many savvy investors know, Pierce Eislen offers real estate market research needed to evaluate investment properties. 
Take advice from someone who knows the tenant debt collection business:
Located in Denver, Colorado, commercial broker David Potarf averages around $200 million per year in sales. Mr. Potarf knows what it means to be a good broker, and how to find one. Whether you are a broker aspiring to Mr. Potarf’s sales goals, or an apartment owner looking to get the most from your investment, you need to know what makes a great broker:
Tenant background checks are critical every time you rent, not only to avoid unpaid rent, but to avoid renting to a sex offender or other at-risk tenant. While a credit check in important, it is not enough. 
Take advice from someone who knows the tenant debt collection business:
It’s generally accepted that, unless you go hog-wild with your design plans, landscaping gives more value than it costs. For one thing, a carefully planned design keeps on giving year after year with little added investment. And keeping up the appearance of a property leads to low vacancy rates. But did you know: 
The top-selling commercial agent in California, legend Daron Campbell has sold over $1 Billion in real estate, and oversees over 70 agents. In addition, Daron has built up his own personal investment portfolio, and currently owns nineteen apartment buildings. 
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