Periodic Building Inspections
Posted by Thomas Spear on May 7, 2012 in Articles, Blog | 0 comments
Periodic Building Inspections
Once a property is fully occupied and stabilized it is easy to simply lose focus or ignore the occupied units. That, unfortunately, is a practice which is not in the best interest of a property owner. In Los Angeles it is necessary to physically inspect for smoke detectors every six months. This inspection is a great opportunity to do a more thorough inspection, thereby protecting the property and addressing any potential liability issues. It is an opportunity to assess parts of physical property often ignored. While the periodic inspection requirements from other municipalities may be different, the discipline of a six-month inspection is a very good idea.
During the inspection process an owner or property manager can look beyond the smoke detectors at other aspects of the property to ensure that each tenant is taking care of the property and that there are no situations which require the owner’s attention, such as illegal roommates or the tenants doing excessive damage to the property. The six-month inspection can also be used to check all the plumbing fixtures to make sure that they are working properly and to make sure that, even more importantly, they are not leaking thereby causing excessive utility charges to the owner.
This inspection also presents a very good opportunity to look for mildew or mold in a unit. An owner can easily take the time to look at the likely places, under the sinks and in the bathrooms where there’s plumbing and moisture gathering. The early detection of mildew is a huge benefit as it allows the owner to address the situation before it becomes problematic and before it becomes a problem with the tenant. During an inspection an owner can also look at the door locks to make sure they’re secure, as well as the latches and locks on the screens and windows to ensure the safety of the tenant and also address potential landlord liability.
Finally on owner can look for any damages or potential damages, which will have to be addressed either immediately or in the future when the tenant leaves. At a minimum, the owner has advance notice of a potential situation and can address it appropriately. Whether or not an inspection is required by the municipality it is a good idea to do inspections every six months to review the operating systems within occupied spaces and to ensure that the owners’ liability and the premises are well taken care of and all problems are viewed advance.
Ways to Improve Your Google Experience
Posted by Thomas Spear on May 3, 2012 in Articles, Blog | 0 comments
Recently the LA Times ran an article that can help your use and searching in Google, immensely. Here is a summary:
- To simply find the definition of any word, simple type “define” before the word in the search box and the definition will be the first at the top of the results given.
- Type “weather” or “movies” and a Zip Code and the information as requested will be given in Google.
- Looking for a fact or song lyric, simple use the asterisk when typing in missing search information. For example “San Diego is in * county” or “There is a house in New Orleans they call the * Sun”.
- Use the minus to exclude terms that may be related, but not a part of your desired search. For example if your interest in birds than you might try “Ravens – Baltimore”.
- If you know your search subject’s web site you can limit your search to that site using “site:” in your search box. For example to look up baseball in the Los Angeles Times, the search box would appear like this “site:latimes.com baseball” This will go straight to the Los Angeles Times website and search for baseball related articles.
- Google also assists in mathematic conversion for currency and temperatures. For example if you type “22.5 Celsius in Fahrenheit” you’ll get the converted temperature. Same is true for currency. For example, “$100 is euros” will give you the proper conversion.
Selecting a Property Management Company
Posted by Thomas Spear on Mar 19, 2012 in Articles, Blog | 0 comments
The selection of a quality management company is very critical to the success of the property overall. The question is how does one select a management company? First of all, like any company, a number of questions need to be asked. How long has the management company been in business? Do they handle the type and size of property you have in your portfolio? It makes little sense for a company that primarily manages small apartment buildings to be hired to run a 200,000 square foot office building. Does the company have similar product? Where, in relationship to your project, does the management company have other properties? If a property management company has mostly properties in San Bernardino and Riverside, they may not be the appropriate company to handle Santa Monica property. The size of company is also critical. If a company has 300 properties under management, how much attention does your property warrant in their organization? Conversely, if the company is too small and has only one principal perhaps the risk of not having a deep company is too great.
While all these factors are important, additionally the management company should be able to present how they will professionally market your property, thereby maximizing the income. They should also illustrate how they will minimize your expenses, thereby increasing the cash flow to the owner. Equally important, a professional management company should have a clear vision of the risks and minimizing those for your product type. Finally, the efficacy of a property management company is really a function of the quality of person employed by that management company. As a service business, the quality of the service is always defined by the employee. Ask to meet who will handle your property, directly, not just the sales force. Ask how people are hired and trained and, most importantly, ask for references. What are your experiences with property management companies?
