Property managers are responsible for ensuring their properties remain safe and crime free. Of course, the reality is that eliminating all crime may simply not be possible, but remaining consistently proactive about guarding against crime will definitely reduce threats to a property and its tenants. The following links will help you fight crime with the best of ‘em:

• Who doesn’t know McGruff the Crime Dog? Visit McGruff’s website for a fun lesson on crime prevention.
• Fight crime! Read about the Progressive Policy Institute’s crime fighting project.
• Although the effects might not be immediate, preventing future crime means investing in the children of your community today. FightCrime.org explains why investing in kids is so important.
• E-How has developed 5 steps to fight crime.
• Drugs and violence aren’t the only crimes you have to guard against … also be on the lookout for cyber-crime on your property.

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It goes without saying that no landlord wants to see illegal activity occur on his premises. Unfortunately, this doesn’t mean that it never happens. No matter how mundane a tenant’s behavior may seem, as a landlord it is your job to put a stop to any potentially illegal activity the moment it comes to your attention. Although your tenants are ultimately responsible for their own actions, depending on your state’s laws, you may actually be liable should one of your tenants inflict damage on other building occupants or even your property’s neighborhood.

Although you should be on guard for any sort of criminal activity on your property, drug dealing is one of the top criminal-related activities landlords are faced with. If you suspect a tenant may be dealing drugs on your property, be on the lookout for the following common signs:

• Excessive traffic in and out of a unit, with visitors staying for relatively short periods of time.
• Curbside “drop-offs” (i.e., if a tenant is frequently walking out to cars parked on the street outside of your property).
• Greater-than-normal nighttime activity.
• Drug paraphernalia (i.e., pipes and needles).

Should you suspect a tenant is dealing drugs (or committing any other sort of criminal activity) on your property, it’s imperative to respond quickly and decisively. Aside from endangering other tenants, landlords may potentially be held liable for public nuisance lawsuits by other tenants or neighbors. Not only that, but if your property gains a reputation for illegal activity, chances are the quality of your tenant pool will diminish, as good tenants leave for more safe living situations and a less desirable tenant pool becomes available to fill those vacancies.

We’ve said it before and we’ll say it again: The very best way to avoid behavioral problems on your property is to carefully screen tenants before signing a new lease. Run criminal and credit background checks, verify employment, and complete reference checks with former landlords. Although this process may be time-consuming, it’s the best way to avoid serious problems down the line.

In addition to protecting against illegal activities committed by your tenants, it goes without saying that you also want to do everything in your power to protect your property from criminal acts committed by outside parties. The following common sense measures will help ensure that your property offers tenants a safe environment and allows their minds to rest at ease.

• Make sure that the exterior of the property is well lit. You may want to consider motion-detecting lights.
• Make sure that all unit windows have latches—and encourage tenants to keep them locked.
• Prevent tenants from copying keys and distributing them to outside individuals such as family and friends. Many manufacturers now make keys that cannot be copied by general locksmiths. Also, limit each tenant to one set of keys and charge a fee for additional copies to help cut down on extra copies floating around.
• Alert tenants about any criminal activity in the neighborhood.
• Frequently inspect your property for necessary repairs that may represent potential security breaches (such as broken locks or windows).
• Take any tenant security-related concerns seriously and immediately take appropriate action.

Although criminal activity is out of your control to a certain extent, exercising due diligence is a great way to minimize threats to your tenants, your property, and yourself.

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It goes without saying that no landlord wants to see illegal activity occur on his premises. Unfortunately, this doesn’t mean that it never happens. No matter how mundane a tenant’s behavior may seem, as a landlord it is your job to put a stop to any potentially illegal activity the moment it comes to your attention. Although your tenants are ultimately responsible for their own actions, depending on your state’s laws, you may actually be liable should one of your tenants inflict damage on other building occupants or even your property’s neighborhood.

Although you should be on guard for any sort of criminal activity on your property, drug dealing is one of the top criminal-related activities landlords are faced with. If you suspect a tenant may be dealing drugs on your property, be on the lookout for the following common signs:

• Excessive traffic in and out of a unit, with visitors staying for relatively short periods of time.
• Curbside “drop-offs” (i.e., if a tenant is frequently walking out to cars parked on the street outside of your property).
• Greater-than-normal nighttime activity.
• Drug paraphernalia (i.e., pipes and needles).

Should you suspect a tenant is dealing drugs (or committing any other sort of criminal activity) on your property, it’s imperative to respond quickly and decisively. Aside from endangering other tenants, landlords may potentially be held liable for public nuisance lawsuits by other tenants or neighbors. Not only that, but if your property gains a reputation for illegal activity, chances are the quality of your tenant pool will diminish, as good tenants leave for more safe living situations and a less desirable tenant pool becomes available to fill those vacancies.

We’ve said it before and we’ll say it again: The very best way to avoid behavioral problems on your property is to carefully screen tenants before signing a new lease. Run criminal and credit background checks, verify employment, and complete reference checks with former landlords. Although this process may be time-consuming, it’s the best way to avoid serious problems down the line.

In addition to protecting against illegal activities committed by your tenants, it goes without saying that you also want to do everything in your power to protect your property from criminal acts committed by outside parties. The following common sense measures will help ensure that your property offers tenants a safe environment and allows their minds to rest at ease.

• Make sure that the exterior of the property is well lit. You may want to consider motion-detecting lights.
• Make sure that all unit windows have latches—and encourage tenants to keep them locked.
• Prevent tenants from copying keys and distributing them to outside individuals such as family and friends. Many manufacturers now make keys that cannot be copied by general locksmiths. Also, limit each tenant to one set of keys and charge a fee for additional copies to help cut down on extra copies floating around.
• Alert tenants about any criminal activity in the neighborhood.
• Frequently inspect your property for necessary repairs that may represent potential security breaches (such as broken locks or windows).
• Take any tenant security-related concerns seriously and immediately take appropriate action.

Although criminal activity is out of your control to a certain extent, exercising due diligence is a great way to minimize threats to your tenants, your property, and yourself.

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Since we already provided a slew of goal setting links last week, this week we’re going to mix it up a little and offer up a free-for-all list of some interesting property management related links. Happy surfing!

• As property managers ourselves, we strongly believe in doing our part to retain tenants. With that in mind, here’s another list of actions you can take to retain tenants.
• Our good friend Mike Brewer gives his 2 cents on the future of predictive apartment marketing.
• Two great multifamily websites are teaming up: Walk Score is now available on MyNewPlace.com. Here is the announcement.
• What are the ingredients in your property management agreements recipe? Check out these 10 Ingredients to a Property Management Agreement.
• Are we headed toward an apartment shortage? According to some, the current decrease in new construction will result in future apartment shortages.

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Although it may seem as though we’re already several months into winter for those of us in frigid climates, believe it or not, 2010 has really only just begun. With that in mind, we’d like to expand a bit on last week’s blog about goal setting. This week we’ll really narrow in on those S.M.A.R.T. methods for achieving all you want in the new year.

As a refresher, S.M.A.R.T. goals are those that are: specific, measurable, attainable, realistic (relevant), and timely (time-bound). Let’s break those elements down one by one to gain a clearer understanding of why goals that follow these guidelines will serve you and your business best in the year to come.

Specific
In order to get what you want, it’s important to know what you want. Think of your goals as a map—how can you expect to reach your final destination if you don’t know where you’re going? Sure, every now and then you might get lucky and stumble your way to a desirable destination … but you will make your life much easier by knowing the quickest route from Point A to Point B.

Let’s look at a specific example. Chances are, most of us would like to raise our profit margin this year. But what does that mean? In and of itself, raising your profit margin could mean anything from making $5 more in 2010 than you did in 2009 to making $100,000 more. Being specific forces you to really strive for something. Sure, if you make $5 more this year than you did last, you can pat yourself on the back for crossing the finish line, but what have you really attained when all is said and done? Specificity is a great way to hold yourself accountable when it comes to striving for increased success.

Measurable
It’s important to establish metrics for measuring success. Saying “I want to improve my business” is too broad; saying “I want to improve my bottom line by 20%” is a measurable goal. Knowing where you stand and where you want to be helps assess your business strategy and gain a greater understanding of what works and what does not. While there are certainly some goals that are unmeasurable, most goals on your list should be measured in black and white terms.

Attainable
Sure, we all want to shoot for the stars when it comes to success, but it’s also important to make sure you are setting feasible goals. Of course, you want to make sure that you are challenging yourself (after all, this is where professional growth and innovation are honed), but you also don’t want to set goals that are impossible to meet, essentially setting yourself up for failure. Can you raise your profit margin by 50 percent in 2010? Sure, if you work 24 hours a day and 2010 follows a dismal financial year for you, you just might. But is it probable for the average property manager? Chances are, it’s not. Keep your goals within your grasp … just make sure you have to stretch a bit to reach them.

Realistic (Relevant)
In addition to considering your own resources, make sure that you account for the environment in which you’re functioning. Maybe you are willing to work 24 hours a day to raise your profit margin by 50 percent. But even if you are, that doesn’t mean that you’ll be able to locate a pool of new tenants that are willing to pay a higher rental rate … the economy simply may not allow for it. When making goals, always be sure that you maintain a realistic view of the climate and circumstances within which you are operating.

Timely (Time-Bound)
Make sure that your business goals are assigned a time period for success. Your goal may be to open up a luxury 100-unit apartment complex. Is this an admirable goal? Yes. Is it something that you can accomplish in one week? Chances are it is not. Assign a time period to the goal, make your goal to open a luxury 100-unit apartment complex by year end 2010.  Even the best plans in the world will fall flat if there are no established deadlines. Don’t be afraid to be aggressive with your goal setting deadlines, because these deadlines will motivate you to act now… not later.

In the end, the S.M.A.R.T. methodology provides a road map for setting productive goals and a framework for bettering business. It’s proven very successful for us here at Buildium and we can’t wait to hear how it works for you and your business in 2010.

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There’s no better time than 2010 to be proactive about putting forth the effort required to define (and, better yet, achieve!) your own personal version of success. The following sites can help you set and achieve all your goals in 2010.

• The time-tested goal setting theory has been helping people achieve their dreams since the 1800s.
• Did you know there are different types of goal setting? For example, individual, career, and organization. Shirley Fine Lee drills down to the specifics of team goal setting.
• Goals don’t have to be S.M.A.R.T–they can also be S.M.A.R.T.E.R.
• We love YouTube! Here’s a visual take on S.M.A.R.T. goals.
• If you’re looking for some inspiration, check out these goal setting quotations.

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It’s that time of the year for goals and resolutions … and this blog post is no different. Both professionally and personally, most of us start the new year off with the best of intentions—but this doesn’t mean it’s not all too easy to get waylaid by the day-to-day grind, often before January has even run its course.

So this year, we encourage you to be accountable. Take an hour out of your week to put some serious thought into what you hope to achieve professionally in this first year of a new decade. Then make yourself accountable. Post your goals somewhere you will see them every day for the next year. Create reminders in your calendar at least once a quarter to “check in” and see where you stand. Are you taking realistic measures to achieve your goals—not just in January, but throughout the entire course of the year? Are you taking time to recognize your achievements and celebrate professional victories large and small? These may sound like trite suggestions … but they work.

Depending upon your personality and the current state of your business, creating a list of goals may be a quick, straightforward exercise or a daunting task. Whether you’re having difficulty narrowing your many goals down to a few or coming up with a single one, we encourage you to approach your list of goals with the following tactic in mind: S.M.A.R.T. strategy. Make sure that your goals are:

• Specific
• Measurable
• Attainable
• Realistic
• Timely

Keeping these qualities in mind will not only help you select goals that benefit your business, but will also build in a framework that ensures you can actually measure your progress throughout the course of the upcoming year.

We also encourage you to make your goals with the following simple but effective philosophy in mind. There’s a lot of truth to the adage “if it’s not broken, don’t fix it.” But this year, make a vow to yourself that if it is broken, you should fix it. This applies to all areas of your property management business: the units you manage, your advertising and marketing tactics, day-to-day business routines, and how you communicate with tenants and business contacts.

Particularly in these tight economic times, it can be scary to spend money on things that you could put off to a later date. But, in the long run, this doesn’t pay off. If you feel that you’re missing out on property management opportunities or could up your game when it comes to reaching potential tenants, make an investment in yourself and your business and take the steps necessary to make some headway. If you’re missing out on online marketing opportunities, invest in a web site. If you’re not out there pitching potential clients for property management work, invest the time in promoting yourself and your business. While everyone else is holding off on taking the steps necessary to grow their business until the economy takes off, you have the perfect opportunity to make some real inroads and get ahead of the pack. Don’t miss out!

2009 may have been a trying time for many landlords and property managers—but there is no reason that 2010 has to follow suit. Take the time necessary to envision what you would like to achieve this year and, more importantly, take the steps necessary to make it happen.

From all of us here at Buildium, Happy New Year! We can’t wait to hear about all of your achievements in 2010.

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We’re still recovering from a great New Year and to help us stay up-to-date with the Buildium Blog we enlisted Bill Gray,  Tenant Debt Collection Specialist, to tell us what to expect when it comes to tenant debt collection in 2010.  Bill’s blog can be found at www.thelandlorddoctor.com.

The downturn in the economy has caused many landlords to lower their credit requirements for new tenants.  Of course, lowering credit requirements increases financial risk.  Renting to a tenant with little or poor credit increases the likelihood that the tenant will at some point leave owing the landlord money.

This change in rental criteria is understandable, considering the need to keep all units rented.  But know that when you lower your standards and in turn incur debt, this debt will be tougher to collect than if you had rented to a tenant with good or great credit.  If you use a collection agency to collect the debt, you should also lower your expectations about how much you feel they should collect.

Collection agencies are reporting that they are receiving many more files than two years ago.  The average amount of debt in these files has also increased.  Relaxed rental standards, coupled with the high unemployment rate, have put collection agencies in a tough spot.

The American Collectors Association reports that the collection industry debt recovery rate is down 30-40% over last year.  Angi Pusateri, National Sales Manager for RentDebt Automated Collections, confirmed that her company is experiencing a similar decline in debt recovery.  However, RentDebt Automated is weathering the storm well and has added employees in the last year at their offices, which are located in Nashville, Tennessee and Dallas, Texas.

Jeff Cronrod, the President of Rent Recovery Service, a national collection agency specializing in the collection of tenant debt, estimates that nearly 40% of the debtors his company is trying to collect from are unemployed.  “It is not that these debtors do not care about the debt or their credit. They simply have no means to pay the bill,” Cronrod explained.

Saul Wertzer, President of Rent Recover Solutions in Atlanta, Georgia (not to be confused with Cronrod’s Rent Recovery Service), told me that his company has also seen an increase, not only in the number of collection files, but also an increase in the average amount of each file.  I have heard this from every company I have spoken with, in every corner of the country.  Wertzer went on to say that it is important for landlords and property managers to think long-term about debt they are owed by previous tenants.  Over time a good percentage of tenant debt is collectible.

If your collection agency has served you well in the past, stick with them, even though recent recoveries may have dropped.  Trust me, every agency is experiencing a tough time collecting debt.  Don’t jump ship and hire another agency, because eventually the economy will improve and many of these tenants who owe previous landlords will get back on their feet.  When they do, they will work to clean up their credit and pay their debt. But don’t wait until then to do something about it.  Now is the time to make sure the debt you are owed is reported to all three major credit bureaus. Whether your collection agency reports the debt or you report it via an automated service, make sure every dollar you are owed is reported.

Doing so will greatly increase the odds that you will get paid the debt your previous tenant owes you.

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