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Home · Property Management · Going Green : Top 10 Money Saving and Money Making Tips of 2008

CountdownWe’ve brought you dozens of money saving tips over the year. Here’s a countdown of some of the best technology and money making ideas of 2008, so you can save even more in 2009:
The simplest, easiest ways to lower your costs:
1.  Over liners.  These drip-catching, energy saving liners are CHEAP, and save you a bundle.  See  Make Oven Cleaning a Thing of The Past.
2.  Recycling electricity.  A simple appliance can save you as much as 25% on energy costs in your office, common areas, and rental spaces.
 
3.  Keyless entry systems.  No need to re-key each time a tenant moves out, plus an easy way to provide security when vendors need to come on site.  For more, read Keyless Entry, 5 Ways to Save Money.
Put Money in Your Pocket, and a Smile On Your Face:
4.  Part-time rentals. Are you away from home part of the year?  Do you have a get-away home?  Find out how you can rent part-time without paying out in taxes.  See Put Part-Time Rental Cash in Your Pocket.
5.  Tenant Debt Collection. Do you have old, uncollected tenant debt?  You need to read Are You Leaving Money In Your File Drawer?
6.  On-site Vending Machines.  From beverage delivery to tenant recreation, these machines can offer landlords additional income. Check out the possibilities in Vending Machines Bring in Extra Income.
7.  Common area laundry.  Not only an environmentally sound choice, but a great way to earn a little income and save on burdensome maintenance repairs.
Reap the Rewards of Proper Planning:
8.  1031 Exchange Fees.  Using an exchange agent who pays you interest on your funds can pay for your exchange fees.  Find out how in Interest on Your Funds Can Pay for Your 1031 Exchange.
9.  Avoiding over-insuring. Don’t throw money away on a too-beefy property insurance policy.  Learn more in Over-Insuring Is Killing Your Profits.
And last but not least, use preemption to avoid costly tenant disputes:
10.  Minimizing tenant property damages. You have options when facing a messy tenant eviction.  Learn more in How to Evict Tenants Without Property Damage.
American Apartment Owners Association offers discounts on products and services related to your commercial housing investment including REAL ESTATE FORMS, tenant debt collection, tenant background checks, insurance and financing.  Find out more at www.joinaaoa.org.

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  • sid miller

    THE BIGGEST ERROR AND THE MOST DAMAGING ERROR, AND THE MOST DIFFICULT ERROR TO CURE OCCURS WHEN OWNERS OF PROPERTY ( WE ARE NOT LANDLORDS- LANDLORDS VANISHED HUNDREDS OF YEARS AGO) FAIL TO OPERATE THEIR BUSINESS AS PROFIT MAKING VENTURE IN A FREE MARKET CAPITALISTIC ENVIRONMENT ( EXCLUDING NEW YORK STATE WHICH STILL HAS STATEWIDE RENT REGULATIONS AS A SELF SERVING POLITICAL CARRYOVER FROM WW2- 65 YEARS AGO-).
    THESE BLEEDING HEARTS-DO GOOD-HELP THE POOR- HELP THE SELF PROCLAIMED NEEDY FOLK TURN INTO SPINELESS WIMPS AND THEN FALL INTO THE BOTTOMLESS PIT BY FORGETTING THEIR REASON FOR BEING IN BUSINESS BUT INSTEAD GET EMOTIONALLY INVOLVED WITH THEIR TENANTS.
    IT IS THE ROLL OF THE GOVERNMENT TO PROVIDE SOCIAL , MEDICAL,& FINANCIAL AID TO THE REALLY NEEDY, NOT THE PRIVATE OWNER. MANY PROBLEMS WOULD NOT OCCUR IF BEFORE OWNING PROPERTY THE BUYER WAS REQUIRED TO VIEW THE FILM “PACIFIC HEIGHTS” THEN PASS A 100 QUESTION MANAGEMENT TEST, WITH ONE WRONG ANSWER DISQUALIFING OWNERSHIP FOR A YEAR. THE BOTTOM LINE IS THAT THE WEAK OWNERS ARE THEIR OWN WORST ENEMIES. RIGHT FROM THE START WE MUST TEACH PROSPECTIVE TENANTS THAT WE RUN THE SHIP. AFTER GOOD NEGOGATIONS WHICH TAKE INTO ACCOUNT THE CONDITIONS OF THE MARKETPLACE EVERYONE WILL BE A HAPPY CAMPER.

    SUBMITTED BY SID MILLER
    LICENSED REAL ESTATE BROKER
    REAL ESTATE INSTRUCTOR
    BRONX NEW YORK 10454
    718-993-2353

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