My first Property management experience

Well, the Tomato is hosting a Carnival of Scary Real Estate stories, and lord knows I can’t deny everyone this one…

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It was a dark and stormy…morning. My third day on the job managing a one bedroom condo, also my very first property management gig. The owners moved out to Japan, and came to me asking about Property Management. I told them I’d never done it before, but it’s just a one bedroom condo, how hard could it be?

I got the contract, and we set up the appropriate accounts. They left for Japan, and I found a nice young recently married couple to rent the place. So a small condo, in a professionally managed association, the place was rented, and I was on easy street.

So before the tenants moved in, I wanted to have the place professionally cleaned for them. So I called a friend and asked if he knew a good cleaning lady. I call her up and set up a time, 9:00 Saturday morning.

I get there that morning to let her in at 8:45, 9:00 rolls around, 9:15, 9:30… I call her up to see where she is, and it goes to voice mail. 9:45, voicemail. Finally 10:00 rolls around, and I get in touch with her. She had to move around some appointments and wasn’t going to be able to make it. Now it’s short notice for me to find someone else, so I ask her if she can do it tomorrow morning, she says yes 9:00am would work.

I get there Sunday morning again at 8:45 to let her in. She shows up at 9:45. It’s her and her daughter, they have all their supplies… Awesome. I let them in and tell them to call me if they need anything.

Sure enough, I get a call from the daughter at 11:00. “Jon, I need you to come here, my mom cut her finger.” I ask her “Is it bad? Should I call 911?” She says no, but she wants me to come over. So figure it’s not pretty but it’s not bad, I stop by the store and buy some cotton balls and hydrogen peroxide.

I show up at the property and the mother is sitting on the ground with some paper towels around her finger, and the daughter is standing with her back turned to her mom (she couldn’t stand to look). I look around the room real quick, there isn’t any blood splattered around, the paper towel is not soaked, how bad could it be?

So they ask me to look at it because neither of them can. And I lean over, and thinking is a small cut, I give her the “let me see this little cut” So I remove the paper towel.

I saw blood and bone. This wasn’t a deep cut, THE WINDOW HAD FALLEN ON HER FINGER!! Think more like a fat guy taking down a chicken wing in one bite. The window had removed her nail and skin from the bone just under her nail bed.

The smirk dropped from my face and I freaked “WE ARE GOING TO THE HOSPITAL RIGHT NOW!” I ask which window, and they point me over (well the daughter did). So I lift the window, and underneath is the cleaning rag, and the fingertip and nail. I grab both, hand them to the daughter and hightail it for the nearest hospital. I made it in 5 minutes. During the drive, the cleaning lady told me I looked pale…. Yes, the fingertipless lady told me I looked pale.

After I got them to the hospital, I went back to the property and had the new tenants moving in within hours, and upon closer inspection, there were spots of blood all around the window and wall. I had to spend the next 3 hours on my hands an knees cleaning up the blood, and finishing the 1/2 done cleaning job.

Now if you think that’s bad. On top of all of that, the cleaning lady didn’t have workers comp, and the landlords owned the property outright and didn’t have homeowners insurance. My first communication with them after they arrived in Japan was telling them the story and advising them that they will be needing legal representation.

I figure, in my first 3 days I had an experience that Property Managers doing it for 20 years have never seen. Wonderful.

As far as the carnival, if that one doesn’t get me in the top ten, I can’t wait to read the ones that beat it.

Real Estate Blog week in review

So if you haven’t noticed, I’ve been gone on a small vacation. So it’s catch up time for me, time to get back in the groove and see what I’ve been missing. I figured I’d start it off with my week in review.

Sellsius, Bloodhound, and Future of Real Estate blogs follow the trials and tribulations of Zillow (wonderfull, the one week I go away is the one week of the year that I would have had the opportunity to bash on both REALTOR AND Zillow, good timing Jon)

The Matrix presents the top 10 Clipboard

Three Oceans Real Estate ponders When Realtors Lobby, Who Wins

The Real Estate Tomato announces the prizes and extends the date for its Scary Real Estate stories Halloween competition

Urban Trekker Blog put together a very good list of some recent articles that will be effecting the housing market both locally (DC area) and nationally.

San Diego Home Blog hits its 6 month anniversary (Congrats) and is featured in the Carnival of Real Estate hosted by HotPads.

The x broker presents its top 10 x rated REsources

Bring you home reports on Greenspans positive words about the market

Living up to their name, Genious Realty rolls out their fizbomap. I say living up to their name because they’ve figured out a way to get FSBO’s to come to them, instead of having to track them down. Once the FSBO’s are unsuccessfull, where do you think they’re going to go to first?

YoChicago finds some affordable ultra luxury mansions around $10k, yes I’m aware that “k” stands for thousand.

Marthas Vineyard Blog reports that CNN lists Boston in the Top 5 Bubbleproof cities.

John Keith over at the Boston Real Estate blog has some good news for Boston.

Property Grunt informs about a rental scam press conference and talks about the nefarious rental double dip. - Sidenote - I once met an agent who bragged about a triple dip, where he got a fee (one months rent) from the renter, the landlord, AND the relocation company, back in 2000. It’s legal if it’s fully disclosed to ALL parties of course, he didn’t brag about that though.

Turning a profit off your Real Estate blog?

I was perusing some blogs playing catchup this week, and I came across The San Fransisco Real Estate Blog, it had a bunch of great entries, but what caught my eye the most, were the links with the double bars, and the bubbles that came from them.

It’s recognizable right away to be a pay per click of some sort, but with a slight twist. It intrigued me enough to inspect a little further, and it brought me to Kontera. I read through their propaganda, and came to realize that I’m a real sucker for a good pitch.

So, the short version is that they offer “In Text Advertising.”  They have created an algorithm that goes through your text, and maximizes the appropriate ad to the appropriate keyword.
I’m not a huge fan of the PPC, we gave it a shot, and it cost us an arm and a leg. It brought in some business, but I feel like we were an earlier adopter of it. As it grew in popularity, the better placement just got bidded higher and higher until the return just wasn’t worth it anymore. On top of that, other sites began to adopt PPC advertising as well. Whether it was their own version, or google adsense, all the sudden it was everywhere you looked and almost always on the right hand side. I think this phenomonon certaintly helped create the golden triangle.

So I like some of the twists that they have put on pay per click advertising.  On the site owners side, the ads don’t really interrupt the user unless they are interested in the topic.  And for the advertiser, they claim the ads are more targeted.

I personally don’t think you’ll be seeing it on this site any time soon.  But it’s definitely an innovative spin on the PPC that you’ll be seeing more and more, as it is a good format for blogvertising.

Finished basements with a view… and what a view it is!

About a month ago I wrote about the floating condos on the Freedom Ship.  Well ResidenSea eat your heart out.  Here’s three extreemly creative housing ideas I stumbled across, all on the same website.

The Trilobis65 is a floating habitat designed to house 6 people on 4 levels, connected by a spiral staircase. It measures 65 feet from bow to stern, and 42 feet from port to starboard, the top deck is 11.5 feet above sea level, and the underwater observation bulb is 10 feet below sea level. It has a speed of 7 knots, and has fuel cells for solar, wind, or diesel power.

Where would you dock your new 5 million dollar beautiful monstrosity?

At the Neptus 60 cliff habitat of course.

The cliff Habitat consists of 4 sections connected by stairs and elevator

  - The 820 square foot living area with 3 bedrooms, and a living room with terrace
  - the observation deck 60 feet above sea level
  - the docking area
  - and the underwater observation globe

And if that’s not enough, and you just needed more (and who wouldn’t?).  There’s the Jellyfish 45

Awesome!! A veritable floating single family home with room for 6 - 8 beds, this version boasts an internal electric system with 2 generators, a 1000 liter water capacity, and air conditioning.  And of course, the underwater observation globe, perfect for aquarium lovers, or those looking for somewhere from which they can create and run their evil empire.  Bwahahaha!!!

Cool Real Estate sites

Ok, so my motivation for this was based on two sites I recently came across:

Rentometer (what appears to be a Rental Zillow of sorts, Joshua Dorkin over at Biggerpockets blog brought this one to my attention) and GooTube (a mashup of google maps and real estate videos).

I know that’s not even close to what else is out there. ( I plan on adding to this list as I find more) I would include:

- your Gmap helps you create your own Mashup
- Neighboroo (my thanks to Pat Kitano at Transparent RE for bringing that one to my attention)
- HotPads - Hey HotPads… How about a HotAgents with the map mashup? Change the size of the individuals icon based on user reviews to add a little social aspect to the site? Maybe you can make my icon HUGE if you use the idea ;-)
- Homethinking
- Future of Real Estate Marketing will probably be the only Blog I put on this list
(sorry Tomato …. well, I guess that makes it two)
- Rentometer
- GooTube
- RentVine and their new Mapvine
- Housingmaps
- Neighborhoodscout
- Propsmart
- Trulia
- Zillow
- Real Estate Voices
- ActiveRain

* (added) Too funny, so I decided to go to some other bloggers, to try and see if they had already posted some cool RE websites, and I come across a recent post by Mike Price, so it looks like he’s focusing on best sites specifically for the consumer. Help him out and post your input before Friday… if you have any, that is.

As far as for this list, I’d like to be more general (just cool RE sites) yet slightly more specific (websites just focusing on Real Estate stuff, not websites where real estate is one of many applications. i.e. No to Craigslist )