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December 2018 Happy Holidays and tax info

Happy Holidays,Happy Holidays

Earlier this month you received an email as a reminder that we need correct information for year end accounting next month.  Please be sure the address is correct on the email to get your information to you more quickly. We send the 1099 and 12 month cash flow report via email and USPS if you haven’t declined that option.  You can also find your 1099 posted on your owner portal once the email has been sent out.

Our holiday hours: We will be closed Dec. 24-25, 2018 and Dec. 31, 2018.  As always our emergency line for maintenance remains available to tenants 24/7.

As we get ready for family and friends, parties and programs we would like to take this moment to wish you all the season has to offer and the Happiest of New Years!!

November 2018 Happy Thanksgiving and Maintenance Work Orders

Greetings and Happy Thanksgiving to you and your families,

The month of November is a time when we look back at the previous year and find the good things in life. We can be thankful for many things cartoon turkeybut it’s the relationships we form with others that have lasting value. Here at IPM we do our best to foster those relationships into a valuable asset that benefits Owners, Tenants and IPM. Working together as a community we bring housing to those need shelter and income to the folks who own the property.  Win win for all.

A couple things to remember about work orders. Whenever we get a work order we send out a notification to the owner. This lets you know that something is in the works and it is also the time for you to notify us with any information that might affect the repair, ask questions about the worker and checklistscope of the repair or ask us to not proceed with the repair if it is not something that is required right away. Keep in mind that our goal is to keep your property in the best condition we can.  Properties in great condition attract better tenants and better tenants take care of their home.  Sometimes a sale is not foreseen and a property in super condition is always worth more if it needs to be sold.

One last note about work orders. On the work order you will see a maintenance limit amount, this is there for the vendors benefit and let’s them know that we are not authorizing any work above this amount without proper approval. The only exception would be for an emergency where we need to protect the occupants or the property from damage.

October 2018 Our New Administrative Support, Anna

Happy October,

This month we would like to introduce another member of our team: Anna Laparra.  Anna comes to us first as a temporary, but we have decided to keep her!

Anna is a single mom of 4 kids, between 9mo – 10yrs old.  She has worked in legal offices and elementary schools and is enjoying the challenge of learning the property management business in our leasing team.  She handles new owner set ups and lease renewals as well as move outs and evictions. She works mornings and occasionally does showings for potential new tenants.  She is excited to started her education toward getting a full Property Manager license from Oregon.

Please join us in welcoming Anna to the team!   You can reach her at: Admin@IPMdowntown.com

August 2018 Rhonda and Owner Statements

Hello everyone,

This month it is my turn to be introduced… I am Rhonda Larson, your trusty General Manager/Bookkeeper. I work in the office full time answering questions, phones, emails and I interact with Owners & Tenants directly whether paying rents & security deposits or just needing assistance. I started as the bookkeeper with the company in October of 2013 and have expanded my horizons ever since. Over the years I added keeping a helpful eye on Maintenance, Leasing and anything else needing it.

I am married with 2 boys that have been lucky enough to find their other halves and married them. One couple lives in Alaska and one lives locally. I have 3 god-children, married with children to ease my gramma needs. And I have hosted almost a dozen FES or foreign exchange students of high school age from around the world. I have been very blessed to visit many of them in their home countries, this has given me a much widened view of the world we live in and an intense desire to travel more. I love to cross-stitch, read, travel, entertain and have always loved diversity and learning. Boredom is the enemy!
My background has been varied… The Health Insurance industry, a Small Business Owner for Home Decor and a coordinator for a Foreign Exchange Student Organization, and I am a Licensed Contractor and run a Construction company with my hubby.

One of the things I do, is to send out the Owners Statement each month. This report works a lot like a checkbook. It has a summary at the top, but then gives you the ‘register’ of transaction that have happened with your property since the last one was sent. It shows the Date of the transaction, Who the transaction was with, What the transaction was for and then the amounts. Cash In = Deposits, Cash Out = Checks/Payments made and then a running balance. It also includes any bills not paid at the bottom of the report and it will tell you in the summary if you have any amount due that was not covered by the rents collected. You can pay these amounts through the Owners Portal, please ask if you’re not sure how to do that.
Some things you may see come through that can be confusing for some are:
Late Fees – $75.00 these are charged to tenants that have paid their rent after the 5th of the month and are a pass through. They are paid by the tenant and then charged out to the company.
Tenant Insurance – $9.50 these are charged to tenants that choose our landlord liability insurance to comply with their lease and are a pass through. They are paid by the tenant and then charged out to the company.
Application Fees – $45.00 these are paid by potential tenants when you have a vacant property. They are sometimes refunded, if not they are a pass through and charged out to the company.
With the Owners Report you receive a copy of any maintenance work orders for your property for that time frame as well.
Hopefully all this helps to answer any questions you may have, but please don’t hesitate to call me at 503-902-1022X1

July 2018 New technology and services

hands holding personal computing devicesAt Innovative Property Management we are constantly investing in new technology and process flows to help our tenants and owners have a great experience with us.

For example our software lists vacancies on 34 websites so prospective tenants have an easier time finding a place to live and our owners have shorter vacancies. Our software also allows tenants to report maintenance issues online or using an app on their smartphone allowing them to attach photos of the problem. This makes for faster repairs with fewer callbacks saving the owner money and the tenant time.

We are constantly evaluating and implementing new technology for example we have just started using a new software to help our staff with process flow and task execution so we can streamline the workflow process in our office. This will help get properties ready to market during tenant change over even faster making your investment property work even harder for you.

Innovative isn’t just part of our name, it’s how we work day in and day out so we have happy and satisfied owners and tenants.

June 2018 Maintenance Overview

assortment of plumbing toolsThis month we are highlighting our maintenance department.  Two things to cover are our people and our technology and how both of them working together give your more success with your investment property.

Our maintenance team is comprised of our miantenance coordinator, handyman and lots of great vendors we know and trust.  The biggest challenge for our maintenance team is getting tenants, contractors, owners and our schedule to line up when getting a task done.  We do make it easier by using some of the latest software to manage maintenance items. For example if you have regular maintenance items that you want done at your property such as landscaping or cleaning gutters, roof, decks or walkways we can put them in our recurring automated system.

Many owners feel that not hearing problems from tenants is great but that can mean small items are not being reported and are getting more expensive.  Our tenants can report a maintenance issue through the online tenant portal making it more likely that they report a problem and since they can include pictures it gives us more clarity and we can take care of it more efficiently.  This increases the number of requests but saves you money in the long run since small problems don’t turn into big ones.

When something does need fixing you are notified via email and maintenance will schedule our handyman Salvador or one of our carefully screened contractors to make sure your investment stays in great shape.  All in all, our people and our technology work together to help you be a more successful property owner.

This month we are also saying goodbye to Rick Nixon who has been with us for the last 5 years.  He has helped countless tenants find great homes, brought new owners to the company and at one time was our maintenance manager.  He has decided to retire and spend time on the family farm and with his grandchildren. We wish him much happiness in the future.

May 2018 about Your Monthly Email

Hello again Innovative Property Management investor clients!  Thank you for your business and your trust in us to manage your rental unit.

Last month we introduced Steve Deardorff our newest team member.  He works with business development and if you know of anyone that owns investment property that might be interested in our services he would be happy to give them more info. Here are some links if you want to see the last email or visit our blog page to see all communication.

This electronic communication is another way that Innovative PM helps you grow your income with your investment property.  Timely financial information delivered electronically lets you know what is going on with your rental property fast. Just click the link in this email, the reports you will find are updated monthly and there are complete year end reports to give your CPA.  If you have forgotten your password there is a way to reset it once you click the link.

Next month we’ll be introducing our maintenance manager team and going over a few ways to streamline the maintenance process for your investment

While there are many properties for sale in our area right now there are no amazing investment properties that pass our criteria to be listed here this month, but keep watching this space because when we find one it will be worth checking out.

April 2018 Newsletter to Landlords

Monthly, you as a property investor working with Innovative Property Management, receive an email with a link to your owner statement.  This month we would like to introduce our Business Development Manager for owner on boarding.  We will also begin communicating other information that you as a property owner and our client could find useful. Topics will include: who we are and what we do for you, how to use the reports, great investments property deals in our area, ideas for maintenance, changes to our terms or contract, and updates about the real estate market in general.

Image of Steve Deardorff

Steve Deardorff outside the Beaverton Library

This month we’d like to introduce a new member of our team.  Steve Deardorff comes to us with a background in Information Technology, Commercial Insurance, Financial Services and Private Client Banking. His job title and main role is Business Development Manager and he will be helping new clients transition to using us manage their property.  Steve is a strong proponent of solid systems to help our customers grow their investments and make more money.  Feel free to call him with any on boarding questions at 503-770-0140.

Many of our clients find that they make more money working with us than when they self managed because we have fast turn around of vacant units, effective systems to maximize rents, proactively inspect and take care of maintenance before issues grow and solid record retention and bookkeeping to maximize your tax deductions.  If you know someone that would appreciate our services Steve is the person you would refer a potential new client to. He can be reached at 503-770-0140 or feel free to connect with him on linkedin

Starting this month we will also be featuring ‘pocket listings’ which are properties not yet in RMLS as well as listings that would make great investment properties. If you are interested in more information about any of these contact Steve at 503-770-0140

  • Pocket listing on NW Monte Vista Terrace in Portland, high end single family home just over $1 million, rent back to 97 year old owner, a guaranteed tenant from day 1.

Pitfalls of Managing Your Own Rental Property – Hillsboro Landlord Education

Managing rental property has become more complicated, and if you’re not experienced in landlord and tenant laws, you can find yourself making expensive mistakes that could land you in court. If you’re not using a professional property manager, make sure you educate yourself on all the requirements of being a landlord in Hillsboro and Oregon. In this blog, we’re discussing some of the pitfalls that cause problems for self-managing landlords. (more…)

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