Be a Professional

Bart Sturzl, MPM, RMP

Be a Professional#1Definitionprofessional adjectivefollowing an occupation as a means of livelihood or for gain

professionalismnoun 1. Professional character, spirit, or methods.2. the standing, practice, or methods of a professional, as distinguished from an amateur.

#The 3 KeysKnow the Owner

Know the Property

Know the Tenant#3Know the OwnerCompetition

Contracts

ROI

Insurance & Risk Management

Communication

Is There a Fit

#4Competition Who are They

What do they Charge

What are their Strengths & Weaknesses

Whats in Their Contract

How are you Different

#5ContractsWhen is the Last Time You Read It

Will it Stand Up

#6ROI

((Return - Capital) / Capital) 100% = Rate of Return

#7Insurance & Risk ManagementDoes the Owner Have the Correct Policy

Are you Listed as Additionally Insured

Additionally Insured / Additional Interest

#8CommunicationTry to Find Out What Generation

Email / Phone / Text / Fax

#9Is There a FitHave They Been Managed Before?

Can You Communicate With Them?

Will They Maintain The Property?

Are They Current On Payments?

#10Know the PropertyLaws & Ordinances

Market

Area

Statistics#11Laws & OrdinancesNationalStateLocal

#12MarketYou Need To Know Your Market

#13AreaSet BoundariesTypes Of Properties You Manage

#14StatisticsVacancy RateDays on MarketRenewal RateAverage Rent

#15Know the TenantApplication

Screening

Lease

Eviction

Deposit Itemization & Collection

#16ApplicationAuthorization to Collect InformationAsk the Right QuestionsFollows Fair HousingIs it Complete?

#17ScreeningCredit

Criminal

Sex Offender Data

Evictions

Employment

Rental History

#18LeaseWhen is the Last Time You Read It

Will it Stand Up

#19EvictionEvery State is Different, Know YoursCourtWritTreat Tenant Fairly and with Respect

#20Deposit Itemization & CollectionsPhotosDocumentation / InventoriesAsk Yourself, What would the Judge SayFair Collections Act

#21The Professional Property Manager

OwnerTenantProperty

#22Bart Sturzl, MPM, RMP

Be a Professional#23