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 by Howard Bell In general, rental property is better positioned for this downturn than most other properties.
Even despite the crazy economy, there are over 30,000 commercial health clubs in the United States, and that doesn’t even include YMCA’s, JCC’s, Park and Recreation Centers, and others who fit the category. People realize that their health is important, and health club memberships have only taken a slight decline in 2009. But the number one rule in deciding which club a person will go to is convenience. Not equipment, not the bells and whistles, but the convenience. How long will it take to get there? Is it close to home? To work? In between? Now granted, other factors weigh into the decision after this, but if you can nail the convenience factor, chances are, you get a member. What does that have to do with you as an owner or operator of an apartment complex or multi housing unit? Well there is nothing more convenient then a fitness center at home! If you’re eager to get started and learn more right now, contact info@fitnessoutfitters.com or 866-369-3188, ext 0. Mention that you are an AAOA member to find out about discounts available to you. See our feature, The Renter Demographic: Who Are They Now.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at joinaaoa. To subscribe to our blog, click here. by Tom Kelly, Inman News Tip #5: The Good Child Gets Ignored
 Landlords spend so much time dealing with problem tenants that it is easy to ignore the good ones. Consider the current high-vacancy market when you are checking files for upcoming renewals. It may be a good idea to contact your tenants earlier than usual to ask them to renew the lease.
That way, they know you love them and want them to stay. And, if they don’t feel ignored and unappreciated, they won’t be as tempted to shop around for better deals.
Remember, service is the key factor tenants look for in considering whether to renew their lease. Prompt service calls and courtesy from their landlord can seal the deal. For more, see What Residents Want.
See last week’s Landlord Quick Tip.
Have a tip to share? Email our editor at kim@joinaaoa.org. by Paul Bianchina
Before complete overhaul, consider options
 Q: My cement driveway is about 25 years old and certain spots became “mud-jacked” about nine years ago due to “settling”. It is settling again in some areas and I’m wondering whether I should spot fix it again or redo the whole driveway and while at it make sure the foundation (adequate rebar, gravel etc.) is set up right.
What’s your advice?
A: Whenever I hear about the same problem occurring twice, I’m almost always in favor of doing some additional investigation, and that would be my thoughts in your case as well. It sounds like there might be some groundwater problems, poor compaction or other issues that are going on under the slab, and I’d want to get those looked at before proceeding with another repair.
Before tearing up the entire driveway, you might want to dig up the areas that are settling and then have an experienced, licensed excavator or concrete contractor come out and take a look at things. They may be able to do a little additional digging and investigative work and determine what’s causing the settling, and if it’s an isolated condition you may still be able to make repairs rather than doing a complete replacement.
If you opt for a complete replacement of the driveway, talk to the contractors about what your options are. In addition to concrete, you might want to consider paving stones or some other material that allows for greater expansion and contraction, as well as being more resistant to freeze/thaw cycles.
Remodeling and repair questions? E-mail Paul at paulbianchina@inman.com.
Copyright 2009 Inman News.
See Paul Bianchina’s feature, Spring Into Home Maintenance.
American Apartment Owners Association offers discounts on products and services for landlords related to your real estate investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing. Find out more at http://www.joinaaoa.org./
For questions about our blog, contact our editor at kim@joinaaoa.org.
To subscribe to our blog, click here.
by Robert Griswold
But in the last year many of my tenants have fallen into a pattern of paying a little bit later each month. This is becoming a real problem, and it almost seems like the tenants are talking to one another and conspiring. Many of them still get it in just before the late charge kicks in on the sixth of the month, but the owner is now telling me he is worried that because so many tenants are paying late he won’t be able to pay the property mortgage when it is due on the 10th. Do you have any suggestions? by Robert Griswold
 Q: I manage a very large rental property and while the majority of our residents are great, we do have an occasional “problem tenant” who is making life miserable for neighbors. Is there anything you can suggest?
A: You may be able to negotiate a voluntary move-out with your tenant. Some rental owners have negotiated agreements with their problem tenants in which they forgive the unpaid rent if the tenant agrees to leave by a mutually agreed-upon date.
Other owners have agreed to refund the tenant’s full security deposit immediately after the tenant has vacated the property (as long as no significant damage has been done to the property).
Although you may feel strongly that your tenant should keep up his end of the lease, you may come out ahead by avoiding legal action and not having to worry about the problem anymore. You are also minimizing the chance that your problem tenant will chase away the great tenants that you want to keep.
Of course, you should never count on a verbal agreement, and any voluntary move-out agreement must be in writing.
This column on issues confronting tenants and landlords is written by property manager Robert Griswold, author of “Property Management for Dummies” and “Property Management Kit for Dummies” and co-author of “Real Estate Investing for Dummies.” E-mail your questions to Rental Q&A at rgriswold.inman@retodayradio.com. Questions should be brief and cannot be answered individually. Copyright 2009, Inman News For more about Robert Griswold’s latest book, see Property Management Kit for Dummies, or visit the AAOA Store. Share your insights by commenting below. For questions about our blog, contact our editor at kim@joinaaoa.org. American Apartment Owners Association offers discounts for landlords on products and services related to your rental investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org. To subscribe to our blog, click here. by Jeff Adie
With this list of 16 cheap, easy-to-install upgrades, you owe it to yourself, and your tenants, to find a few that will work to lower your costs. We are not talking major projects in this blog– just 16 low-cost improvements that you can easily accomplish that will help save our resources. So, no more excuses! (more…) by Howard Bell The rental demographic is changing. Are you keeping pace? The Echo-Boomers
This is a group of younger adults that grew up on the Internet, not television. They are wired, multi-cultural, and hold more traditional values than many of their parents. The largest generation of young people since the ’60s is beginning to come of age. The owner that understands this demographic will rent smarter and faster. by Janet Portman, Inman News
He didn’t look me in the eye; his answers to my questions were evasive; and he began asking about improvements to the house that aren’t necessary. He has a job and appears to have enough income to pay the rent. He’s also a member of a racial minority. If I can’t point to anything besides my unease, am I breaking the law if I refuse to rent to him? –Jake W. (more…)   Add Super Saver to any membership for only $ 19.95! 
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The health and fitness industry is exploding.
The housing market has been as uncertain as the next monthly unemployment figures. Families have put home purchases and remodeling projects on hold, waiting for a positive sign in consumer confidence — or an upward, consistent move in the stock market — to make a big-ticket decision.
Q: I am an apartment manager and have some great tenants who always pay their rent on time. 
High heating, cooling, and water bills are not going away.
The children of baby boomers are now driving the rental market. They make up a third of the population and are a significant segment of the renter population.
Q: I’ve been advertising for a tenant to occupy my single-family rental, and interviewed someone whom I just don’t like. 
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