Take a deep breath

peaceful lady sitting in padmasana pose while meditating on mat
Year’s End

Rents & property values increase. Renovation products and professionals now must be actively sought. Newer houses and apartments dwindle. Tenants, property managers, and owners desire to gracefully emerge from Covid-19. The inflation specter looms. Urban and suburban areas become more densely populated-with doorbell cams reaching near-ubiquity. These trends somehow managed to gain traction this year.
As such, Baron would like to share a few hopefully-helpful tips from the 2021 property management year in review.

  • Renewing leases? Check Zillow or Redfin for current rental market rates
  • Trouble locating make-ready or renovation professionals? Consider Craigslist.
  • Your available unit on the market too long? Market to millennials.
  • COVID-19 concerns? Wear a mask, consider allowing a self-guided tour, buy PPE for your cleaning staff. Be kind.
  • Do your co-workers/tenants have COVID-19-concerns? Don’t sweat it. Be kind.
  • Concerned with inflation? Refinance: again. Self-repair. Fire your prop mgr.
  • Seeking additional rental income without buying additional real estate? Investigate AirBnB options or buy a prefab backyard tiny house.
  • Fixed costs too high? Shop new fire insurance, question the county assessment, perform a cost/benefit analysis for new HVAC, water heater, etc.
  • Worried about doorbell cams? Baron property management does not have a recommendation on this either way. However, you may be surprised how many videos of you exist.

Finally, BPM will share a story about something learned from another seasoned landlord. Every Christmas this individual would renew a hard-copy subscription of a home improvement magazine for each of his housing units. This was done in the hopes that the tenants would thumb through the pages, get ideas and keep the unit tidier. BPM would like to know what you think about this idea: Is it good or not-so-good.

Happy Holidays and a Wonderful 2021. As always, I look forward to hearing from you.

Baron Property Management