Many property managers face challenges when it comes to setting rent for tenants. With research, market familiarity and a working formula, setting the right rental rate will pay off.
You can learn a lot from other property managers. Here are a few tips from other managers on how to keep your tenants happy and your property filled to capacity.
By: Sam Barrett - December 2008 -
NewsHome builders from across the nation gather at the 2009 International Builders’ Show to learn more about home building trends and technology, like green building.
The Energy Efficient Commercial Building Tax Deduction for energy-efficient materials in buildings was extended through 2013. The deduction applies to building materials and equipment like lighting, HVAC, roofs, siding and more.
3D sketching software makes do-it-yourself CAD concepts easier than ever.
Your customers want to go ‘green’ with building projects that help the environment and save costs. But upfront expenses can be significant. Here's how to justify the investment.
Going ‘green’ is admirable, but comes with a pricetag. How to evaluate costs of environmentally sound practices and services so your efforts don’t sink your bottom line.
As the economic crisis continues to drain the bottom line, property managers may be looking for ways to cut corners on inspections and their associated fees. But now’s not the time to compromise safety or quality.
The current recession has forced business owners to re-evaluate their pricing structure with respect to job estimates and supply expenses. Guidance from experts can provide a blueprint as to how to improve margins.
Property Maintenance Services Info at LOWE'S for Pros. Your tenant services or property management services can make the difference for your renters
Social media has changed the way companies advertise. Now more than ever, small businesses can promote themselves online by targeting customers and expanding their networks, often for little or no cost.
As a small business owner, it can be easy to get lost in work when trying to ensure the stability of your business. But having a proper work–life balance can be vital to not only your health, but the overall health of your company.
Apartment and multi-family housing rental amenities go beyond the obvious today: rental community Internet portals, breakfast and more.
Is stainless steel a fad? Are most people looking for fancy or functional? What is the next big thing in appliances?
There currently are 40,000 job boards on the Internet, with more to come. Here is advice about how to put them to work for you in your searches for qualified construction and building trade candidates.
Cash flow has been called the lifeblood of business, so follow these tips to keep on the positive side and eventually increase it. Landscaping contractors can keep a steady cash flow by utilizing credit, discounts and contracts, and by planning for the future.
To attract tenants who are moving into your market, a property manager should advertise online and establish relationships with big employers. Going that extra mile will help you lease your properties in no time.
By: LowesForPros Staff - August 2009 -
NewsThe latest news, advice and information from building construction and managment professionals across the United States.
Reduce the chances of an audit by avoiding these typical audit-triggering tax moves.
Tenant Screening help from LOWE'S for Pros. Learn helpful information on landlord tenant laws and landlord tenant disputes.
Make sure visitors to work sites follow safety procedures. Accidents can result in expensive lawsuits for personal injury caused by negligence.
Creating a partnership requires blending philosophies, dividing duties and turning cooperation between friends or family into a successful business. Follow these guidelines to avoid problems in the future.
Pest Control Contract Information at LOWE'S for Pros. Hiring an exterminator or signing a contract for pest control is a big decision. Let us help.
There are many considerations when devising your marketing strategy. It’s easy to make a mistake and head down the wrong path, but it’s never too late to rebound from a failing marketing strategy.
As a property manager, you get to give potential tenants tours of the available units. Be sure you have addressed these deal breakers before showing them around, and you’ll increase your chances of getting the lease.
When the weather gets sloppy, it's important to keep indoor spaces clean and dry. Here's how.
Lithium ion and nickel cadmium batteries have become more commonplace for performing residential and commercial jobs. Here’s a primer on selecting the best option for your applications.
Intern and mentoring programs can help a contractor’s business while giving back to the communityc
A home-inspection service can supplement income and provide synergy with a construction company’s main line of work.
Find out what you need to be an effective property management instructor.
Stay one step ahead of the competition by knowing your local market.
Wireless Internet capability is fast becoming an amenity that separates the property managers at the forefront of the residential rental industry from those that are behind the technology curve.
Reduce your tax bill by making wise deductions.
Learn How Utility Billing Services Will Make Your Life Easier at LOWE'S for Pros. You can use billing software and e billing software.
If your contracting shop is ready to take on major construction-industry projects or those for state/local/federal customers, a performance bond is essential. Getting one requires extensive review of your financial grounding and experience.
Your business can benefit greatly from Internet search engine optimization (SEO). It can boost your presence Web presence by marketing to those who are searching for services similar to the ones you provide.
A brand is a major differentiator among small business owners in the same industry—it's a way consumers and even competitors identify a business. But creating a solid brand strategy is no easy feat. In part one of a three part series, learn how you can brand your business for success.
After launching your brand, it’s critical for you to differentiate your business from the wealth of competition. Experts weigh in on how to distinguish your core marketing message to ensure an immediate bond with potential customers.
Launching a great brand will fuel a winning success strategy. But you need employees to understand, accept and then effectively promote your vision for the gameplan to work.
With the help of Sed de Saber-Construction Edition, your Spanish-speaking workers are empowered to learn English in just four months.
Don’t let your building feel sterile. Incorporate natural and organic elements to the interior of your property to breathe new life into it.
A contractor’s built-in web of association, subcontractor and supplier contacts can be expanded and leveraged to gain referrals that will bring in more business.
How do you put together effective strategies for building a diverse property management portfolio? Here’s a basic roadmap on how to get started.
Tenant Landlord Relations at LOWE'S for Pros. Learn about tips and guidlines for landlord tenants and landlord agreements.
There’s no limit to ways residential property managers can boost their bottom line. Rent is your main revenue producer, but there are other initiatives a property owner can launch to help increase profit.
Think of a company Intranet as a 21st Century bulletin board, one that can maximize efficiency, increase workflow and unify employee communications. By launching one, you’ll see immediate return on investment, experts say.
Here are a few tips that can help you get better results from your e-mail communications.
Hiring employees who may be called to active military duty is a service to our nation. But contract-shop owners need to be aware of laws that protect these workers’ job rights.
Attract—and retain—renters that are nervous about the housing market.
When choosing carpet or hardwood flooring for your properties, consider these assessment, installation and maintenance suggestions.
Online networking is a great tool to find new customers, establish a brand for your business and even recruit new employees and subcontractors.
Residential properties aren’t always going to have the same types of tenants. Property managers should cater to multigenerational tenants and families, as they can offer opportunities to build loyal renters, security and stability.
These residents expect cutting-edge design, convenience and technology. Here's how to appeal to this profitable market.
Baby Boom residents expect ease of use, security and good customer service. Here's how to appeal to this growing market.
By: LowesForPros - June 2009 -
News
The Green Building Certification exam established by the International Code Council raises awareness of green building concepts and codes in residential and commercial sectors.
From CAD to niche-specific, today’s design software selections for contractors offer a wide range to choose from.
Learn How to Create a Business Competition Plan at LOWE'S for Pros. Get a corporate advantage for your company.
By: Vanessa Drucker - January 2007 -
NewsGuidelines for disability legislation are found in the ADAAG, which covers public spaces. Rules specify measurements for doors, parking areas and other fixtures that affect people with impairments.
Performing basic background and credit checks can help eliminate problem tenants, but four out of 10 landlords still don't screen applicants. Taking a few measures to ensure you’re leasing to quality individuals could make things easier.
At some point in your business life, you will face conflict in some form. Use these tips as a tutorial to effectively manage any problems that may arise.
Keep costs down by containing water usage.
Many companies have implemented online invoicing and payment solutions. Is this the right step for your business?
The article’s focus is on providing contractors with a primer on how to manage their fleets economically without compromising quality and effectiveness. Various tips and strategies are outlined to help contractors reduce fuel, insurance and maintenance costs.
Knowing your overhead expenses and how much to mark up jobs will determine how successful you are in your business
As rental occupancies rise and marketing budgets are slashed, property owners must find new ways to attract potential renters to their units. New marketing tools such as pay-per-lead Web sites and social media integrating are providing affordable, effective strategies for property owners looking to fill spaces.
Many commercial and residential properties now carry Automatic External Defibrillators for emergency purposes. Is this the right decision for you?
Reward and recognition programs can be a cost-effective and valuable tool to increase employee morale, productivity and revenue while lowering turnover, absenteeism and stress.
Health insurance is a big cost to business owners of all kinds. Investigation different plans, like Health Savings Accounts or Flexible Spending Accounts, may be a way to cut some of the costs.
Making small changes to green your office through recycling, reducing your energy use, and making sustainable swaps does not merely have a positive ecological impact. Rather, it can also be a savvy business decision.
When multiple tenants move in at once, your facility can suffer amid disorganization, clutter and confusion. Planning and foresight can keep current tenants and future residents happy.
Difficult employees can set off a domino effect in your work place; if you don’t catch one, all your other employees are at risk. Here’s how to manage common problems like poor attendance to poor hygiene
Design Build Insurance from LOWE'S for Pros Articles. With a myriad of design/build considerations, design professional's liability insurance should be at the top of the list.
Knowing your neighborhood’s value helps you set the rent price for your residential property.
This press release from DeWALT annnounces the launch of DeWALT's new XRP™ line of lithium ion powered 18V and 12V cordless hamerdrills, drills, and screw drivers.
Online Business Directories Information at LOWE'S for Pros. List your business in online directories and with business directory services.
Contractor Business Forms at LOWE'S for Pros. Many free contractor forms, including contractor invoice forms are available here.
Making a capital investment in technology is one that contract shop owners shouldn’t take lightly. Carefully weigh considerations before you buy any hardware or software for your business.
As a contracting business owner, you need to protect yourself against many things, and one of doing so is documenting your workers’ issues—whether related to grievances, discipline or job performance. This could help you should litigation arise against you.
In tough economic times, your business can ill-afford to let its rental properties run afoul of habitability standards. Here are some tips to help you ensure you’re on solid ground.
Employees such as building managers, maintenance staff and security personnel all should convey a sense of professionalism through their attitudes and appearance.
When managing a mixed-use property, remember that your tenants live in a 24/7 world. Here are some tips to diversifying your retail and residential space to maximize your revenues.
Building security is an important part of any residential property. Here’s how to get started putting that program into place.
By: Matt Chapuran - August 2006 -
NewsSchedule you elevator contractors to perform periodic preventative maintenance and service to keep your elevator working safely. Here are some tips to doing so.
Keep your risk to a minimum by preparing for disaster.
Employment Background Checks from LOWE'S for Pros. Using background check companies and criminal record background checks to hire great employees will help your bottom line.
Self-employment tax includes contributions both to Social Security and to Medicare. Be sure to make regular estimated payments, document your deductions, and send a 1099-MISC form to your own contractors.
Paying taxes is an absolute certainty, but there are ways to control your tax liability.
Beginning in January 2006, consumers and businesses that purchase energy-efficient vehicles and appliances can reap benefits.
Bicycle Storage Racks Advice from LOWE'S for Pros. Learn how dead space can be converted into shared office spaces and multi-purpose rooms.
By: Chad Preston - October 2006 -
NewsPeople’s schedules sometimes dictate that they do their laundry late at night. Property managers must make sure their buildings’ laundry facilities are a safe place to be.
When you’re ready to computerize your estimating function, Microsoft Excel is the best place to start. It offers options like spreadsheets and summary and detail sheets to easily categorize the information.
Develop a plan for the new year to ensure that your goals are implemented in your work.
Exit Interviews and more from LOWE'S for Pros Articles. Helpful information on the exit interview process and how to conduct employee exit interviews.
A closet or basement isn’t a property manager’s only storage option anymore. There are alternatives you can offer your tenants and crews that can utilize space effectively while generating revenue. You just have to know where to look.
Your growth relies on your ability to expand to new properties. Here are some best practices to follow.
If you are firing an employee, be sure the termination does not constitute any violation of discrimination laws. Hold regular performance reviews and document any warnings for unsatisfactory behavior.
Fannie Mae’s renter’s relief program allows renters to stay in their homes or relocate with financial assistance. Property management firms will be assisting in managing the effort.
If you do your own taxes and you're not filing electronically, you could be wasting time and money.
Property Managers need to show their apartments to tenants in order for them to be rented; here are some tips on filling up vacant units.
When you purchase equipment, you can preserve cash through financing, but there may be interest charges. Banks and vendors offer various rates for loans.
Residential property owners have several avenues for receiving funding to make changes to their properties. But the sources of this financing depend on what you plan to do with the property.
Hiring a lawyer may be one of the most critical business decisions you’ll make. Making sure your attorney has expertise in your areas of need — and is accountable and knowledgeable — is a key evaluation factor
When talking about property management, selecting a security firm means property mangers have to make the right decision.
Partnering with a supplier may be one of the most essential decisions you’ll make, when it comes to saving costs and improving customer relations. Here’s how to make the right decision.
Giving great tenant tours can distinguish your building from the competition’s. Here are some tips and suggestions from professionals on what to do—and what not to do.
So you’re managing a residential building with a fitness center? With tenants heading in droves to work out, you need to know what goes into upkeep—with maintenance and repairs—or risk an unenviable situation.
Referrals from local businesses and colleges as well as savvy paid advertising are among the cost-effective strategies property managers can use to market vacant rentals.
Property managers can help improve their façade and curb appeal by following these simple exterior upgrade tips. And what’s more, they can do it on the cheap.
Square footage needn’t be an obstacle to spacious living. Use your unit’s floor space, wall space and built-in amenities, to make even the smallest space feel bigger.
Not every tenant will honestly communicate his or her satisfaction or dissatisfaction with a property manager, and that’s not good. If dissatisfied tenants don’t have the ability to communicate their concerns or problems, they could vacate a property and cause both financial and credibility problems.
Garage Maintenance Starts with Parking Lot Lighting. Read this article at LOWE'S for Pros about parking area maintenance and commercial garage lighting
The world and all it has to offer is available at the click of a mouse. Have you ensured that your business is part of that offering?
Internet marketing is no longer a fringe element of a sales budget.
Helping your tenants to go green is good for the environment and can help to save money. Read tips on how property managers are getting their tenants involved in environmentally friendly practices.
Is your equipment and appliances in the home office costing you bottom-line, when it comes to using energy efficiently? There are simple steps to take to go ‘green’ — and save lots of green in the process, in costs.
It's more important than ever to put the power of mobile communications gear to work on job sites.
The purpose of a professional property manager is to maintain and increase the value of real estate investments.
Several states have Good Samaritan legislation to cover those who respond to natural disasters and other emergencies. What is it and how can it affect your business?
Running an effective Web site for your business requires attention to detail. Focus on creating simplifying, brand-building and bringing customers to the point of sale.
As the public interest in green building grows, property managers need to learn how they can care for their environmentally friendly, sustainable building.
Property managers are embracing a more eco-friendly approach to pest management that combines prevention and lower toxicity products. Environmental Protection Agency (EPA)-recommended treatments and a philosophy of Integrated Pest Management (IPM) are being touted as the friendliest way to combat pests.
Going green with energy-saving equipment and fleet sounds like a winning gameplan these days. Small business owners need to know what benefits are to be gained — and how to get started.
Going ‘green’ can be confusing, what with deceptive advertising and claims on the part of suppliers and marketers accused of ‘greenwashing.’ Take these steps to make sure that your purchases of equipment and products are really environmentally sound.
Every landlord some day has to evict a tenant – but know that this process is fraught with risks. Here’s how to do it right, how to avoid self-help eviction pitfalls, and how to give proper respect to a tenant’s possessions.
As a property manager, you’ve been a part of or witnessed other new developments taking hold. But, it brings with it increased noise and traffic, among other potential concerns. Fortunately, stepping up damage control and improving your relationship skills with the developer and your current tenants can be the keys to success.
Annoying or noisy neighbors on an adjacent residential or commercial property can be a nuisance to your tenants and property. Although you may have no responsibility to intervene under the lease, you can take steps like calling the police and documenting the problem.
The way you handle tenant complaints can help determine whether the he or she stays with your company or moves to another place of residence. Here are some ways to help resolve those complaints, and maybe even avoid arbitration or mediation.
Disasters—fires, storms, hurricanes and earthquakes—happen. Nothing a property manager can do will change that. But plans made before a disaster will go far toward protecting the firm—and its tenants—during and after a disaster. Failing to plan may be the biggest disaster of all.
Launching a healthy living and wellness program for your employees isn’t just ‘feel good’ nonsense. It can improve attendance, productivity and other business-focused needs to provide valued return on investment.
HVAC systems were once looked at as necessary evils. Now through filtration improvements, it is possible to simply employ HEPA filters to improve air quality.
Homeowners and professionals benefit from home sealing. Here’s how you can help them get it.
Lowe’s and Wilkes Community College have partnered to offer courses for small business owners.
By: Elizabeth Cotner - November 2009 -
NewsThree high school students with a passion for going green promoted their school’s sustainable facility in a national competition. They not only placed first, but continue to educate others about the importance of renewable energy through their winning Web site.
By: Valerie Van Kooten - October 2006 -
NewsFirst impressions are important when it comes to your property. Hiring a cleaning service can help you spruce things up—and bring in new tenants.
Finding an effective, reliable contractor can be problematic—here’s how to develop a checklist to locate, and keep, good people.
By: Hitachi Tools - March 2009 -
NewsHitachi Power Tools today announced its new 10-Year Lithium Ion Tool warranty. Every Hitachi cordless power tool is designed to the highest standards and is rigorously tested for both performance and durability. Hitachi is proud to offer an exclusive 10-year Lithium Ion tool warranty to the original purchaser on HXP Lithium Ion cordless tools.
Modifying properties to accommodate the lifestyle and comfort needs of an aging population opens up opportunities for a growing tenant base.
Trade shows provide a great marketing opportunity for your contracting business.Develop potential customer contacts and winning results will be your reward.
You need some forms of technology to sustain your business success. But don’t think that spending for the most-recent advancements is going to take your company to the next level.
A lack of available credit in the market is affecting builders and remodelers in the home building industry as banks restrict their spending.
While vacant units plague property managers across the country, there is a waiting list of thousands of low-income individuals and families searching for adequate housing. By accepting tenants from the Housing Choice Voucher Program, property managers may be able to fill vacant units.
Contractors who need a loan have a variety of options depending on their situation and need. Follow the tips to choose which is right and how to apply for it.
It’s not that you’re speaking a different language to employees — it’s just that you’re not communicating effectively. Communications specialists suggest some well-planned steps that could close dialogue gaps.
Contractor Contracts at LOWE'S for Pros. Learn useful information on construction lawsuits and general contractor contracts.
Pets may be a part of the family, but they can wreak havoc on your building if you don't have a solid pet policy.
There is a proliferation of no-cost and low-cost options for creating your online portfolio. Many applications are available through downloaded programs that allow contractors to post job photos on the Web.
A stop work order is a formal document that lists reasons for terminating a contract. You may be able to mitigate the situation, however, if you communicate and negotiate.
Targeted advertising and Internet signups, along with strategic use of signs near downtown commuter lines, are good methods to locate financially secure residential tenants.
Forging a bond between property managers and remodeling contractors can be beneficial to both parties. Through this relationship, units can be designed and redesigned to keep them modern and attract more tenants.
By: N/A - March 2007 -
NewsThe 2007 International Builders Show showcased some of the newest technological products available to builders and contractors. LowesForPros.com highlights a few of those here.
You are the eyes and ears of the residential rental property you manage, so it is important that you help identify how funds are allocated during budgeting.
With worksite raids, tough laws and stiff penalties, it’s dangerous to attempt to circumvent current immigration authorization laws. Business owners need to be thorough when it comes to documenting employees.
Keep Your Residents Happy—and Safe—in Your Rooftop Amenities
Bid collection often can become the responsibility of the property manager. Take the job seriously and collect quality bids to ensure cost effectiveness and top-notch work.
Challenging times require small business owners to come up with innovative ways to save money, grow revenues and boost bottom line. Here are innovations you can use right now.
There is no shortage of inventory management systems on the market, ranging from forms to software, each with different benefits to offer busy property managers. Here are some methods, tips and tricks other PMs use to stay organized.
Property managers and owners need to keep themselves educated on the newest trends and business/tenant legal requirements. Investing in continued education can help them stay ahead of the pack.
Your employees are your company's greatest asset, so consider investing in opportunities to further their education.
Through the process of catchment, filtration and collection, rainwater harvesting has become a widely used water conservation measure across the country. But is the system right for all property managers and their buildings?
When considering the switch from traditional phone service to VoIP (voice over internet protocol) service, here are some things to consider.
By: Matt Chapuran - October 2005 -
NewsProperty Management Web Sites at LOWE'S for Pros. Impress your residents with an up to date apartment web site or a well-maintained property web site.
By: LowesForPros Staff - July 2009 -
NewsSummer has arrived, and LowesForPros has over 20 new advice articles that address the most important issues affecting American contractors and building professionals.
Turn prospects into leases with an upgraded marketing plan.
An ounce of frozen pipe prevention is worth pounds of profit.
While maintenance and repair are essential costs for any property, you should continually check these costs against industry averages in your area. Here are some areas to watch.
Property managers handle a lot of important, confidential tenant information every day. Keeping these files organized well is critical to maintaining your business, and the privacy or your tenants.
A residential property manager needs to keep his or her tenants informed of the goings-on at the property. In fact, federal, state and local governments require safety notices be posted.
Follow these tips to help put your company in the black.
When you've got great people working for you, keep them on board.
The best and sometimes easiest sources of revenue come from referrals and former clients—which is why it’s so important for small business owners to stay fresh in their clients’ minds.
It's never too early to think about the future of your company.
Rarely does a great building close the sale for you—typically it's the unit's kitchen or bath amenities that wow potential tenants. Here's what's new.
As a contractor, you should know these important legal issues going into the new year.
Property managers need to know their property inside and out. An on-site presence, such as a building superintendent can keep you abreast of day-to-day occurrences and issues.
Building Codes at LOWE'S for Pros. Learn useful information about commercial building codes and local building codes.
Employers and employees are governed by “at will” relationships, which either party can terminate any time, if there is no contract. Employers have many other rights, such as setting regulations in their workplaces and controlling compensation levels.
Land use is increasingly complex today, as developers find it necessary to win construction permits from cities and counties that may not be enthusiastic about growth. Smart developers avoid litigation by scoping out the lay of the land before getting too far along in planning.
If you’ve only got so much money to spend on landscaping an apartment complex, where do you decide to spend it? Choose carefully to get the most bang for your buck.
The need for bilingual safety training is greater than ever on today's job site. Here are some online solutions.
Property managers often face legal issues pertaining to the core aspects of property management: landlord-tenant issues, property issues, staffing issues and risk management. With the proper knowledge, PMs will have a better understanding of how to work cooperatively with landlords and protect their assets.
Attract new tenants and keep your existing ones by offering low-cost services and renovations.
In this ongoing series of podcasts, LowesForPros demystifies green building through interviews with industry experts from the National Association of Home Builders, among others . Learn about topics ranging from site selection to maintaining green buildings and be a part of the sustainability trend that is changing the homebuilding industry.
By: Jenn Danko - April 2009 -
NewsLowe’s and SkillsUSA are offering Community Service and Educational grants for career and technical organizations for the third straight year. The grants are part of a $1.5 million partnership between the two organizations that have resulted in community success stories like the “Little Green House” project.
Get quotes or place orders online at your selected Lowe’s store.
By: Lowe's - December 2007 -
NewsWhat can Lowe’s Special Order Sales do for your Business?
Keeping in touch with tenants signals your accessibility and makes for happier tenants.
Improving the way you publicize your product can help you hit your targeted market.
Rules and regulations help frame property safety.
Creating and implementing changes in a business are important for owners who have fallen behind in earnings, or who want to plan ahead for upcoming months.
Hiring temporary workers can fill a short-term need and bring skills to the table that your company requires.
As a property manager, you need to understand how your residential unit’s debt works.
Rising equity is prompting a look at 1031 exchanges, mortgage refinancing, and other ways to tap into increased equity as many real estate markets continue to benefit from an influx of new investment capital.
Managing a building renovation requires project management skills and extensive tenant communication. Be prepared to address post-construction issues.
The recession is taking a toll on renters, owners and property managers alike. Veteran property managers share their tips for dealing with tenants in financial distress.
In a recession, property managers are looking to cut costs. But instead of trying to save money by cutting their marketing budget, they should re-focus their marketing budgets to find the tenants who can keep their properties occupied.
Marketing to women is an under-utilized tactic for most businesses. But if you want to increase your clientele, it’s important to start paying more attention to the details and creating designs that address the female perspective.
By: Dennis McCafferty - June 2008 -
NewsNatural disasters will increase demand for business. But if your contracting shop is down as well because of a hurricane, fire, ice storm or other crippling event, you could miss out on opportunity to service customers — and, in extreme cases, possibly lose your business
Get What You Want. When You Need It with
www.LowesForPros.com/Supplies - Offering online ordering of over 200,000 supplies for building maintenance professionals and property managers
By converting to renewable energy sources—and using energy-efficient equipment—you can help preserve the environment and save yourself some money. The government even offers tax incentives for doing so. It’s a win-win.
In the current economy, property managers everywhere are trying to find different ways to increase their bottom lines by minimizing vacancies and decreasing operating costs. But with several different tactics to consider, maximizing your asset value may be easier than you think.
Putting together a company metrics system may sound overwhelming, but it’s not that difficult. Here’s how to get started.
Baby Boomers, Gen Xers, Millennials: All three generations are increasingly occupying the same apartment communities. How can property mangers create a balanced environment for all?
The weakened economy has forced property managers to do less with more, which can take a toll on employee performance and morale. Employers need to fine-tune their incentive and training programs in order to motivate employees and retain top performers.
Rental Walk-through Inspections from LOWE'S for Pros Articles. Information and tips on renter’s property insurance and home inspection checklists.
By: Kevin Day - April 2009 -
News
By: Kevin Day - February 2009 -
News
By: LowesForPros Staff - June 2009 -
NewsAn overview of all the new content and features available at LowesForPros.com for June 2009.
By: Kevin Day - March 2009 -
NewsNew lowesforpros articles, content and features for March 2009. New features: the New American Home 2009, Audio Podcast Interviews with building industry experts, and a limited time special offer on DEWALT tools.
By: Kevin Day - May 2009 -
NewsAn overview of all the new content and features available at LowesForPros.com for May 2009.
Information on the latest landscape design software and architectural design software.
Naturally, your customers will seek to price haggle with you, especially in these economic times. But playing that game can only lead to a big cut on your gross sales, so it’s best to avoid such negotiations.
During the dog days of winter, there still are ways to attract new tenants without huge investments.
By: LowesForPros Staff - November 2009 -
News
By: LowesForPros Staff - October 2009 -
NewsNew articles, features and special content at LowesForPros.com for October, 2009. October is SAFETY MONTH at Lowe's. Find articles and resources to help you and your crews stay safe on the job.
Supplying your tenants with a place to conduct additional business away from the office is a great way to create a value-added property. Here are a few suggestions on what to offer in and how to regulate your business center.
Some property managers have storage areas available for tenants. Should you? Here’s what you need to know about how storage space can be a great value-add to tenants.
Employee benefits may be one of the biggest concerns at your business. But some benefits can be advantageous for both you and the employee, such as offering profit sharing.
Are you considering going with online leasing for your units? Or do you plan to stay with traditional print leasing? There are advantages and disadvantages to each in terms of time, money and feedback.
What property managers need to know about their master-keyed locking systems depends on many factors, like property location, type of building and cost. It’s up to people to make the most of the system and keep their property as safe as possible.
Property managers may want to translate leases, hire bilingual staff to cater to tenants that are limited English proficient
Party rooms make great tenant amenities, but make sure you communicate the rules so they treat the space as they would their own.
Allow Your Tenants to Pay Rent Online based on this LOWE'S for Pros article. Online rent payments save time and money.
Small business owners in the construction industry need to make changes during challenging economic times. But with foresight, planning and leadership, these changes impacting employees, customers and suppliers don’t have to damage your long-term vision.
Vacations, funerals and other life events result in staffing shortages. Don’t let customer satisfaction suffer while a star performer is on leave.
Business podcasting is an online marketing tool that offers a powerful way to deliver relevant online content to customers, prospects and search engines.
Keep Health Care Costs Down with LOWE'S for Pros. We'll help you with small business health care and health care business plans.
Property managers are finding resourceful ways to reduce their utility consumption while allowing their tenants to reap the savings benefits. PMs need to work together with their tenants to ensure optimal energy and water efficiency.
What To Do To Get Your House Ready For Winter from LOWE'S for Pros Articles. Providing you with winter preparation tips to help you prepare for winter weather.
The current economy may be in a downturn, but it won’t last forever. Now is the time for business owners to plan and prepare to move their companies into the future.
Small business owners say increasing cash flow is a constant challenge. It requires minimizing expenses while keeping payments coming in — but even in economic times like these, it can be accomplished.
Preventing litigation by your customers should be one of your main concerns, even if you perform the best work. Follow these guidelines to help prepare yourself and business from lawsuits brought on by your customers.
Employee accidents and injuries are a reality of business. But abuse of workers’ compensation plans can drive up your premiums.
Many contractors don't charge enough. Are you one of them? Determining how much to charge is the key to success.
Small innovations, when properly planned, prioritized and implemented on a regular basis, can result in huge efficiencies and cost savings for small businesses in the construction industry—a valued goal in any market climate.
When a new position opens up, remember to look to the talented resources you already may have, instead of placing an ad.
Learn how to keep your finances in top-shape as the rental markets soften. Boost cash flow and liquidity by making smart financial management choices with your properties.
The economy may be slowing but there is still a market for property managers that can create value. Learn about trends in property manager salaries and benefits.
In this current economic climate, keeping tenants happy is essential to property managers’ survival and future growth. To keep your property management business booming, consider these hot tips, tactics and tools for attracting new tenants and retaining existing ones.
Turn a property from a Class B to a Class A without turning your hair gray.
The escalating cost of materials and fuel can take a real bite out of your profits. By working better with your supplier and your clients, you can keep costs down and stay competitive.
Business continuity helps ensure that your business will survive events such as a blackout or hurricane.
Business Disaster Recovery at LOWE'S for Pros. Be prepared for the worst with a complete business disaster plan and disaster recovery emergency procedures
The Internet makes it possible for your business to reach people all over the world—let alone the country. But it also lets those same people reach you, and you need to protect against business information security threats via spam and phishing.
Protect your customers’ confidentiality and sensitive data with computer passwords and paper shredders. If privacy is compromised or security is breached, you must provide notification
Estimating Construction Costs with LOWE'S for Pros. Estimating new home construction costs and residential construction costs is easy if you follow a few simple steps.
Protect payment information and confidential customer databases. Guard your privacy from hackers and theft by shredding, using passwords and restricting access to information.
Turn your green space into an asset.
Learn How to Use Home Insulation at LOWE'S for Pros. Reduce drafts with energy efficient windows and steel doors.
Parking areas shouldn’t be out of sight, out of mind. Keep yours in top repair to attract and retain tenants.
A good communications plan will identify prospective tenants, tell you what’s important to them and how your business—and your properties—can satisfy their needs.
Committing to environmentally friendly business practices is commendable and potentially profitable. But unless you get a sense of the waste inventory that your business creates, your efforts may fail.
Reduce your insurance costs by avoiding duplication or gaps in your policies. Savings on OCIP premiums particularly help to lower expenses.
Today, more than ever, contractors need to upgrade their Web sites for a better image and to generate more traffic. Here are some tips to help you take the plunge.
In many ways the property management business has become much more competitive meaning that you need to think strategically about what differentiates you from the crowd. Learn how to use your resources more effectively and insulate your business from the effects of the economic crisis.
Reducing your building’s carbon footprint means cutting energy use. Learn some ways you can improve building operations to aid the fight against global warming.
Help your customers help the environment by reducing their energy use through simple fixes to their home.
There are plenty of things you can do to reduce your tax liability now.
With a slowing economy, everyone is looking for ways to cut utility costs. Here are some tips you can use.
Cutting water consumption is good for the environment and the pocketbook, and residential tenants are counting on property managers to help them conserve.
Property management is something that requires attention to detail. However, when you are trying to attract tenants, maintain consistency and maintain steady cash influx, it can take the assistance of a property liaison to keep things moving smoothly.
Most properties depend on rent as their sole source of income. Here are tips, techniques, and strategies to ensure tenants pay in full and on time, including late payment penalties.
Make sure you’re quickly renting out your single-family home to quality tenants.
The market determines rental rates, but that isn’t as easy as it sounds. How can you price your properties so that tenants think you are a good value?
Residential property managers must decide everyday whether it’s cost effective to repair equipment one more time or to replace it entirely. But, be aware that you may be throwing away money when all the system needed was an upgrade.
If one of your properties has a fire, you need to do everything you can to get it up and running again as quickly as possible.
Turn around the public perception of your property by generating favorable PR.
Tenanting a building is similar to building a dinner party list. Create synergies, avoid conflicts (and vacancies), and go with your gut to create a harmonious building that works.
A team's motivation and drive can ultimately determine the success of a business. Business owners need to understand how to delegate and give their teams increased responsibilities so that the natural leaders can start to make themselves known.
A professional property manager knows risk management is an essential part of the daily operation of the property. But knowing how to analyze, manage and document can help keep risks at a minimum.
How to keep you office secure—from elements like fire, water and virtual threats like computer hackers.
Some residential properties still have lead paint. As a property manager, it is your responsibility to have it—or any other paint—removed properly and using the appropriate equipment to ensure tenant safety.
Is your property safe and secure? Here is how to see if your building is up to par.
Maintaining a safe work environment can have a big impact on your profit. Read about the link between your business’s safety record and its financial viability.
Safety In English Spanish Workplace from LOWE'S for Pros. Keep everyone safe with spanish safety posters and landscape safety.
Now that the housing boom isn’t booming, relationships between contractors and customers may be more strained. Here are strategies to help contractors smooth over conflicts, keep customers happy and hold deals together.
A property manager’s revenue stream comes from rent. And turning over the property can eat into that. Planning and preparing for needed repairs or upgrades can help make short work of the projects.
City building departments are adopting Web-based technologies to provide online services for busy contractors.
Screening tenants will help property managers avoid problem tenants and comply with Fair Housing Laws. Using objective criteria and performing a background check, including a credit history, criminal background, and past landlord check, are key.
When dealing with vacant buildings, property managers should take additional measures to stay on top of their properties. Using the right contractors and materials can help secure vulnerable spaces and lower the risk of break-ins.
Security deposits are negotiated between property managers and tenants, within the limits of state or local laws. Here’s what property managers of residential and commercial properties need to know.
Your space is valuable and you want to keep it in pristine condition. Learn how to attract your ideal tenants so you can ensure your property stays in good condition.
Contractors can improve their marketing investment if they create a catchy and distinctive message that conveys their competitive advantage
By: LowesForPros Staff - September 2009 -
News
Service contracts offer coverage for repairs and check ups, beyond a manufacturer’s warranty. The document should include language that limits obligations for abuse and references deductibles.
For contract-shop owners nearing retirement, knowing when and how to effectively step down and defer to new business leadership can be the greatest challenge. But a succession plan doesn’t have to be the end of your company’s future, experts say.
Hire a property management company to ease your mind, lessen your workload, and ensure you’re abiding by the landlord tenant laws.
Offer Cable Internet Deals like this LOWE'S for Pros Article. An efficient competitive market has apartment utilities included.
Residential property managers probably get more noise complaints than anything else. Help curb those by creating a detailed noise policy and responding quickly can help reduce noise complaints.
Debt can help a business thrive, or it can cripple its future. Effective management of debt is less of a challenge when you avoid classic mistakes.
By: Elizabeth Cotner - October 2009 -
NewsLowe’s is a proud sponsor of SkillsUSA and the anchor sponsor of the SkillsUSA WorldTeam, a program that helps high school and college students pursue careers in trade, technical and service occupations. Lowe's Companies Inc. sponsored the team through a grant from the Lowe’s Charitable and Educational Foundation.
Many property managers struggle to make the best use of their time, given all the hats they wear. But take these proactive steps and you’ll increase task efficiency and improve your business in the process.
Maintaining a swimming pool takes more than checking the chlorine, pH and alkaline levels. Make sure you focus on technology, training and, most importantly, your tenants’ health.
Make your spring-cleaning and maintenance easier with these checklists for your building’s exterior, interior and equipment.
Crimes occur everywhere, even in the quaintest areas. Beginning a neighborhood watch, and getting your tenants to enforce it, can go a long way to keeping everyone safe.
Tax season is creeping up, and there are numerous ways in which you can save money and get the most out of your returns. Here are a few—including real estate, leasing and employees—to get you started.
Starting a fitness center is a great way to attract and keep tenants. Here are tips to develop, clean, upkeep, and provide security and access.
The recession is taking its toll on almost every facet of the construction and housing industries, with many businesses, including crucial suppliers, closing up shop for good. Learn to look for the warning signs and what to do so your business isn't left in a pinch.
By: LowesForPros - July 2009 -
News
Now is the perfect time to evaluate how you use your resources. Chances are there are many areas where you can tighten up by reducing and reusing, which will result in saving money and protecting the environment.
cost cutting,real estate, routine maintenance, apartment buildings, commercial buildings, networking, apartment property managers, commercial managers, record keeping economic downturn
The National Center for Education Statistics predicts that college enrollment will grow 11 percent by 2013. With college enrollment on a rise, property managers can cash in on a growing pool of potential renters.
By: Steve Hendershot - August 2009 -
NewsThe sub-prime mortgage crisis is the face of the country’s economic downturn, and it’s all but finished as lending practice—at least for now. Bernard Markstein, senior economist at the National Association of Homebuilders (NAHB), tells LowesForPros.com he thinks there will be an economic recovery soon but that lending in the housing market will redevelop slowly and cautiously.
A lease can provide the framework for a successful tenant/property manager relationship. A successful lease negotiation could ensure that a vacancy is not only filled but also that it remains filled in the future.
Establishing and maintaining recycling programs is an ongoing effort. Seek out recycling resources from local governments and organizations.
To run your business in a slow economy, you need to continue to improve your property, while managing expenses. Here’s what you need to know to weather the storm.
Delegating tasks in a small business can be difficult, especially when you’re the one running the show. Learn how to balance staying involved in all facets of your business, while taking a more hands-off approach with your employees.
During warm weather months, people tend to spend more time outdoors. To take advantage of this, some property managers have modified their outdoor spaces in order to make them more usable and attractive for their tenants and to make their properties stand out among the competition.
Contractor Tax Deductions Help at LOWE'S for Pros. Learn to use tax incentives and energy tax incentives to your advantage
By: Lowe's - November 2007 -
NewsHelp your Hispanic workers learn English in as few as five months with Sed de Saber-Construction Edition. Breaking the language barrier could lead to better quality building.
Liability is almost synonymous with property management. Be sure you know which insurance policies you need to keep yourself safe.
By: Valerie Van Kooten - August 2005 -
NewsWaste Management Info from LOWE'S for Pros. Keep things neat with trash containers and recycling plans.
When tax time comes around, should you hire a CPA or use tax software? Which method provides you with the best tax savings?
By: Matt Alderton - July 2009 -
NewsBecause real estate losses are common, property managers are always looking for ways to increase their bottom line. With a few simple small business tax strategies, they can maximize cash flow and minimize tax burdens.
Considerable tax savings may be found in an independent contractor’s equipment shed, or within his or her family. Take advantage of IRS-approved procedures and practices that can reduce your tax burden.
As the tax filing deadline nears, it's time to start gathering your records, calculating deductions and doing some smart planning for the tax year ahead.
Contractors should perfect their negotiating styles to realize optimum profitability, as well as determine their scheduling, pricing and payment scheduling.
Fleet card programs offer management and cost controls for fleet fuel and maintenance.
Making the transition from residential property manager to hotel manager takes considerable knowledge and experience. Here is some advice from managers in the hospitality industry on what you need to know.
Veteran property managers share advice with novice managers. Their words of wisdom include tips on organization, communication and owner-tenant relationships.
Value the service you provide by mastering how to run a business and succeeding beyond your expectations.
Discover how the Credential for Green Property Management can improve your staff’s awareness of cost cutting green practices.
Gym facilities require daily and long-term maintenance plans. Tenants, property managers and vendors all play a role in proper gym care.
Property managers balance a professional responsibility to both tenants and owner s of a building. How can the National Association of Residential Property Manager’s Code of Ethics provide the foundation for your business practices?
The Fair Housing Act affects just about everything a residential property manager and owner does in a given day. Know some of the often-neglected aspects to avoid inadvertently discriminating against your tenants.
Of all the surfaces in your building, few things are as important as the flooring you choose. It has to be durable, attractive and affordable.
Quality customer service is often key to a healthy, profitable business since it can often make or break a client relationship. When employees have direct, daily contact with customers, it is imperative they acquire the necessary customer service skills to work with clients effectively.
Contract-shop owners now face more regulation, laws and enforcement from the federal government when it comes to reporting earnings and paying taxes. But guidelines and best practices can reduce fears of the IRS.
By: Vanessa Drucker - January 2007 -
NewsThe Job Creation and Worker Assistance Act of 2002 contained a few provisions that still remain in effect. Important business deductions include equipment expensing, domestic manufacturing and limits for SUV purchases.
Tools both handheld and electronic are essential to serving the needs of your customers. Don’t go with outdated products that will only slow down work projects
Energy Efficient Appliances at LOWE'S for Pros. Save your customers money by choosing Energy Star refrigerators, energy efficient washers, and other efficient appliances.
In order to taken advantage of Millennials’ spending power, property managers need to understand how to market effectively to Millennials, a generational group that are as big as the Baby Boomers.
Use these tips and see your company's name featured in local media.
As the economy continues to struggle, and as consumers and businesses pull back on spending, both the residential and commercial real estate markets struggle. Experts share with property managers their assessment and outlook for the national and regional condo, rental and commercial real estate markets.
As the economy continues to struggle, and as consumers and businesses pull back on spending, both the residential and commercial real estate markets struggle. Experts share with property managers their assessment and outlook for the national and regional condo, rental and commercial real estate markets.
Before purchasing a contracting software, make sure it is customized to fit your company’s needs. Following these tips can help you choose a user-friendly program that simplifies your tasks.
In a tough economy, self-employment might be the best option. The clients are your own, but owning a small business means knowing how secure new projects.
Sometimes tenants request a sublease on their apartment for whatever the reason. As a residential property manager, it is your responsibility to address this issue and determine if you want to take on a sublessee.
Rare is the property manager or landlord that doesn’t require a security deposit. In some areas, there are strict laws; get educated so you’re not breaking them.
A tenant is first a customer who can help you achieve a top-flight property.
Tighten your belts for a bumpy ride in 2009...but what may get you through it is excellent service and cutting unnecessary expenses.
Annual inspections, whether of individual units or the property as a whole, need to be done. Here's what to look for.
The housing market, credit crunch, gas prices and consumer confidence are all painting a frightening picture. But contractors who survive these economic challenges often come out stronger.
Insurance policies for tools and equipments provide coverage and protection against damage. Accidents and theft can add up to substantial losses for contractors.
With vacancy rates on the rise, property managers need to put more effort into the appeal of their properties in order to remain competitive. What amenities seem most powerful and popular?
Leading Economic Indicators in LOWE'S for Pros articles. Build business by watching construction trends and home building trends in your area.
As an employer, you have the legal right to monitor, block or regulate your employees’ Internet surfing and email activity. Take action to protect your computer systems and avoid security risks.
Is the equipment your crews use on the job rusting, cracking, fraying or otherwise in noisy, unattractive and badly performing condition? Make a better impression and turnover projects faster by launching a preventative maintenance program
Making the most out of a call to a prospective customer means landing a sale. You need to develop a systemic culture of best practices to get business commitments from interested parties.
Meeting customer needs is crucial in this competitive economy, but business owners need to make sure they don’t get dragged down by overly demanding clients with unreasonable expectations.
ADA Compliance at LOWE'S for Pros. Learn useful tips to build accessible homes and handicap accessible homes.
Thanks to tech tools and best practices out there, it’s no longer a mystery to assess your return on investment when it comes to Web-based advertising and promotion.
To weather the coming winter with efficiency, property managers need to know if their facility’s insulation R-values are up to code and that the insulation is doing its job effectively.
Your company’s computer system helps you do things faster and more efficiently, but it also can be a liability. Follow these guidelines to gain some insights on computer updates, security and how you can set them to some work for you.
A preparation checklist can avert rude welcomes at client sites. Here’s a checklist so you can ensure everything is in place for a productive project kickoff.
Rental properties can attract new tenants by doing away with plain white walls and adding some color. This can create a sense of a living tailored to the individual tenants.
Using background check software to get a history of your potential employees can help you make the right decisions when hiring.
Integrating automated payments from direct debits from bank accounts or credit card payments with your property management software streamlines rent collection.
Your lease contracts may include concessions that lower the rent or give out other perks. Is that still a good idea in this economy?
Every property manager wants his or her property to get attention on the web. Here are a few ideas for moving your property up in the rankings.
There are many benefits to a local chamber of commerce membership. But making a commitment to being an active member can take your business from a listing on a page to a player in the community.
Managing waste is rarely at the top of anyone’s list. However, proper planning, sound practices and contracts with cleaning firms can make your facilities more attractive to existing and prospective clients alike.
Use these key ingredients to make your business plan attractive enough for a banker to lend you start-up money
Property managers should know how to handle tenants who cause problems for them and fellow tenants. But sometimes, handling things by-the-book and checking your emotions can be tough when all you want is control of your property back.
By: Robert McGarvey - June 2006 -
NewsDon’t take your roof for granted. Simple but regular inspections will save you and your tenants from messy leaks
When it comes to getting your home certified green, there are several different shades. We introduce you to the leading programs, LEED for Homes and the NAHB Green Building Program.
Compensation can be a tricky thing for property managers. Here’s what to consider when determining a fair pay scale.
By: Robert McGarvey - October 2005 -
NewsMold Treatments from LOWE'S for Pros. Regular mold and mildew removal are essential to prevent serious mold problems.
By: Lowe's - December 2006 -
NewsLowesForPros.com has made a lot of headway in catering to the industry contractors. Here’s a brief look at some of the new features that have been accessed by builders, landscapers, electricians, property owners and plumbers, alike.
By: Craig A. Shutt - January 2006 -
NewsOn-the-job problems happen to everyone. The key to keeping customers satisfied lies in how these concerns are handled.
Knowing when to add extra staff is just as important as knowing when to do it yourself. Follow these tips for recognizing when it’s time to call in extra hands.
Outsourcing work cuts down on risk and liability and often gives you the most bang for your buck. Know the right jobs to outsource and the right time to do it so you can optimize efficiency.
Selling your contracting business can be a tough decision, but sometimes it’s the best option. Follow these guidelines so you can determine if it’s time.
Apartment brokers can help you find tenants in even the toughest rental markets. But like the tenants who rent your properties, you must invest a good deal of trust in the companies that you recruit. Find out if and when you should go through an apartment brokerage.
Tenant Screening from LOWE'S for Pros Articles. Learn more about the benefits of tenant background checks and tenant credit checks.
You want employees to project the right image and a handbook can help ensure that your workers are putting their best foot forward.
By: Craig A. Shutt - April 2006 -
NewsNetworking and continuing education lead the list, but there are other reasons why membership pays off.
Winter weather conditions can be a danger to tenants and residential property managers alike. But, as the manager, you can protect everyone involved through insurance coverage and safety programs.
Use these maintenance suggestions, and you can avoid costly repairs from damage and reduce your energy costs.
Keep your residents warm—and safe.
You can keep your business thriving just by working on retainer. You can take advantage of the constant work orders while continuing to plan for that next big contract.
Find the marketing firm that gives you the service that you need.
Safety plans are not luxuries – they’re essential tools for any property manager. Draw up an effective one with these tips.
Contractors can build their brand and their business by starting and maintaining blogs.
By: Your Local Independent Contractor and Lowe's - May 2009 -
How To Articles
By: Your Local Independent Contractor and Lowe's - October 2009 -
How To Articles
By: Your Local Independent Contractor and Lowe's - August 2009 -
How To Articles
By: Your Local Independent Contractor and LowesForPros - July 2009 -
How To Articles
By: Your Local Independent Contractor and Lowe's - September 2009 -
How To Articles
By: Your Local Independent Contractor and Lowe's - November 2009 -
How To Articles
Taking a side on political debates can be beneficial for your company—but it can backfire if not done correctly. Follow these tips so you know how to get involved without creating a political backlash against your business.
With a troubled economy, ‘more with less’ is the company mantra these days. By implementing simple steps, however, contract shop owners can get the most productivity out of existing staffing resources without making a major investment.
