It takes a family of service providers to support a large residential community. Problems with on-site janitorial or concierge staff may prompt HOA boards to change management companies. Use this information to ensure a property management firm is a good fit for your HOA’s vendor needs. The janitorial and concierge vendors your property management firm […]
To many tenants, landlording seems like a risk-free way to basically print money, an investment approach with precious few downsides. How wrong that idea is! Veteran and neophyte landlords alike understand just how challenging and problematic a task it can become. Just consider the task of acquiring — and then retaining them. Some landlords swear that signing multi-year leases provides them with the best possible return, but does it really just open them up to more risk?
Why Multi-Year Leases Are (Usually) a Bad Idea for Landlords Read Full Article »
Fiduciary concerns are often the #1 reason HOA boards seek out a new management company. Discussion points to ensure a property management firm is a good fit for your HOA. An HOA’s decision to change property management companies typically stems from a problem—something isn’t working as it should, or perhaps there is a major project
GNP Realty Partners is actively growing its family of real estate management companies by investing in its most valuable asset—its people. In the last six months, GNP has expanded three of its Chicago-based property management companies by adding professionals to their teams. “The quality of our staff is the key to our success,” says owner
GNP Invests in Team Growth Across Its Family of Companies Read Full Article »
When your condo board decides to hire a HOA management company that doesn't necessarily mean your HOA fees will rise or that there is an inherent problem that needs fixing. Sometimes, condo boards just need a bit of consultation and strategic guidance to ensure that budgeting is on the right track or to get help managing a larger construction project. Check out some of the most common HOA management myths and learn the truth about how such a company can help improve your condo community's operations.
Common Misconceptions About HOA Management Read Full Article »
Not all janitorial cleaning contracts are equal. Tenant satisfaction and post-pandemic cleaning standards are just some factors owners must consider. Commercial building tenants give little thought to janitorial services until there is a problem … a problem that may require immediate attention. Failure to deliver quality, timely janitorial services (along with basic maintenance services) creates
The United States traces its common-law heritage back over more than a millennia, and the statutes regulating real-estate transactions have changed substantially (to put it mildly). According to a study by Paula C. Murray that was published in the University of Richmond Law Review, “The tenant bore all the risk of the physical condition of the property — caveat lessee. The tenant could provide for landlord repairs in the lease, but could not withhold rent if the landlord failed to make those repairs. Additionally, the tenant assumed primary responsibility for the condition of the premises once he took possession of the property.”
Implied Repair Covenants in Commercial Leasing Read Full Article »
As a building owner, landlord or HOA manager, the building in your care represents a significant investment—your own or others who have entrusted their investment to your management.
Benefits of Outsourcing Janitorial Services for Your Building Read Full Article »
When evaluating a property management firm, the technology they use is not just a convenience. It directly impacts how your building operates day to day, from work orders and payments to communication and overall resident or tenant experience. Today, 67% of property management companies now use dedicated property management software, making technology a standard part
Property Management Technology: Proprietary vs. Off-the-Shelf Platforms Read Full Article »
Hiring the right property management firm is one of the most important decisions a residential HOA board will make. A good manager protects property values, ensures compliance with governing documents, demonstrates strong fiscal management, reduces board workload and responds to owner needs and interests.
10 Tips for Hiring an HOA Property Manager Read Full Article »
