Marketplace Overtaking Rent Control, – Mortgage
Marketplace Overtaking Rent Control,
Dan The Roommate Man
Rent control is one of those concepts that seems like a good idea, at least until you think about it for more than 60 seconds -- an unusual event in an era of bumper-sticker philosophies and instant analysis.
The modern rent control era began with the federal Emergency Price Control Act of 1942. Such legislation was enacted while the country was at war both in Europe and Asia, and there was a need to prevent profiteering at home. Once the war was over, the need for price controls went away -- except for rent control.
In 1946, for example, despite the fact that we won the war and no emergency was in sight, the "Emergency Housing Rent Control Law" was passed in New York state, and that law still represents the basis for the control of more than 1 million rental units in New York City today.
Rent control regulations also arose in other jurisdictions, often because of concerns that tenants would be "abused" by "greedy" landlords and -- not incidentally -- because the number of tenants greatly exceeds the number of property owners, an important matter when it comes time to vote.
But rent control is wrong precisely because it hurts the people it is allegedly designed to protect.
Lets assume that people are economically rational. Thus, if you had money to invest, you would weigh such matters as risk, possible appreciation, and personal preferences as you decide where to put your money. You might see, for example, that there is no limit on stock profits -- profits which can often be made higher by downsizing and moving production overseas -- but income restrictions on real property in rent control areas. Being sensible, you would likely invest in securities rather than local communities.
If enough people make such decisions, money will pour into the stock market and realty demand will wane. The result will be fewer rental units than might otherwise will be built. Given less supply and a growing population, the natural result is higher rents -- precisely the opposite goal of rent control.
But not only does rent control turn economics upside-down, it is terribly irrational for other reasons.
First, if we impose rent controls we limit property owner income. But we do not limit costs for repairs, utilities, management, appliances, or other expenses. And certainly we dont limit tax increases, the mothers milk of big government. One is temped to suggest some linkage, say an increase in rents that is directly proportional to the growth of government budgets....
Second, we do not show equal concern for the poor in other areas. Imagine walking into a supermarket redesigned with price controls in mind. You could buy apples at, say, 69
Rent Collections Via The Internet Theyre Not Far Awayllections Via The Internet Theyre Not Far Away – Real Estate
Rent Collections Via The Internet Theyre Not Far Awayllections Via The Internet Theyre Not Far Away
Dan The Roommate Man
Since the first rental units were built there have been property managers, a profession which requires both real estate expertise as well as a keen understanding of the human psyche. Property managers not only collect the rent and undertake repairs, they are also the bridge between owners and tenants -- two groups often in conflict.
But have modern times changed property management How does management today differ from 10 or 20 years ago when there werent electronic credit checks, computerized accounting systems, or online resources for both tenants and owners Is it really possible that in the near future well lease properties and pay rents online
"Things are always changing, and yet they still remain the same," says Howard M. Haberman, the vice president for sales and marketing with ReManage, a major supplier of property management software.
"The property managers function is to manage the lease agreement and maintain the physical property, that often involves fixing things that break. Sure, we now have the Pilot, notebooks PCs, and lots of tools, but the job isnt much different.
"On the other hand," he continued, "since the tools have become more complex, the professional manager and the entrepreneurial property manager may be required to have a greater technical knowledge than in the past."
Haberman points out that automation can free managers from repetitive tasks, which means more time is available to work with tenants, vendors and owners.
"As simple a thing as posting the monthly rent charge to the tenant ledger card takes time," says Haberman, who has an extensive background in accounting. "It can be replaced by a keystroke that will post from one to thousands of rent charges automatically."
Haberman says that the bookkeeping aspects of property management are fairly straight-forward -- until it comes to do taxes and handle large numbers of units.
"If it were not for the tax requirements, much of the accounting, especially for smaller ventures, could be done on the back of an envelope," says Haberman.
Owners with small properties, says Haberman, those with 8-unit strip malls or four-plex apartment units, can often satisfy their bookkeeping needs with a basic accounting system. The cost of such software can often be quickly recovered in the form of reduced accounting fees.
On the management side, a simple software system can offer several benefits.
Track maintenance and work orders. This saves the property manager time and assures that needed work will be completed.
Improve maintenance. Properties need constant maintenance. When maintenance is deferred or ignored, future costs of ownership increase and tenants are less satisfied.
Reduce the chance of paying invoices twice.
Tracking bills to know which vendor is least expensive.
Most importantly, respond quicker to tenant problems -- thus improving tenant/resident attitudes and bettering retention rates and lowering vacancies.
"One of the things automated computerized systems do well is add and compare," he says. "Theyre a natural for budgeting and tracking.
Unfortunately, says Haberman, many of the larger management systems have become so complex that many owners and managers cant take advantage of sophisticated options. Even today, some large property owners and managers still user older, DOS-based systems, because such programs do basic management and are easy to understand. Because the old systems are in use and often work well, managers ask, "what additional benefits can I get with new software that I do not get from my current system, and will the new software be able to incorporate the data from the system I now have in place"
"With rare exceptions, most people Ive spoken with over the years, when looking for software for a commercial situation, will require that the program does complex CAM, CPI and other additional rent calculations," he says.
"Theyll reject software that is more limited in that functionality. Invariably, however, a year after what they would consider a successful implementation, theyre not using those features they demanded, and are calculating the additional rents on the same spreadsheet theyve been using over the years."
"One of the benefits of a simple program is that youll use it," Haberman explains.
As well, he says, simple systems make sense because new people are always entering the field.
"Turnover is a reality in any business, and certainly so in the property management field. The simple program is easy to get up-and-running, and consequently is easy to teach the new person. The complex program takes more time to implement, and takes time to train the new arrival."
In the future, says Haberman, were likely to see more landlords relying on electronic funds transfers, or EFTs, both to collect tenant rents and to pay vendors who supply services to the property.
ReManage 4.1, the companys latest management tool, runs on desktop, LAN, wireless, and Internet technologies. In essence, the system can use just about any medium to screen potential tenants, pay bills electronically, schedule repairs, and keep the books.
And in the near future, it wouldnt be surprising if the system also collected rents directly from tenant bank accounts.
"Were just beginning to see the use of electronic funds transfer for automatic repayment of rents," says Haberman, who suggests that in the San Francisco Bay area -- where rents are high, the availability of residential units is low, and many tenants routinely use computers -- owners may be among the first nationwide to routinely collect rents electronically.
"The Internet is really going to be a major factor over the next few years. Wont it be nice to have the prospective tenant go to a web site, and drop in the personal information required, as well as their credit card information to pay the credit check fee, and automatically, the credit report gets transmitted to the landlord"
"Even better, wouldnt it be nice to have that information delivered to the landlords property management system"
About The Author
Since 1989 Dan The Roommate Man has helpe 1000s people find roommates. Need help Contact him at 800-487-8050 or www.roommateexpress.com
info@roommateexpress.com
Rent A Coder & other service auctions – Online Auction
Rent A Coder & other service auctions
Jakob Jelling
You may be in the market for a new website. Perhaps you may be looking for a new logo or a database constructed for yourself or a small business. There are plenty of freelancers out there that are just itching to help you out. These freelancers canvas eBay-like environments and bid on your job. Of course there will be those who will bid relatively low, just trying to get the job, as well as at a relatively higher price. There are several good websites you can find these coders and at a substantially reduced price. You can save up to 75% without batting an eyelash.
Rent-a-coder or rentacoder.com is one of the best freelance sites on the web today. If you are a buyer looking for quality technical support, Rent-a-coder or RAC is a great place to start. You post an online auction by selecting the field that your project relates too and set a maximum bidder on your project. Upon approval from a reviewer, your auction is begun and will run the duration you set it too. Once you are notified that the auction begins, your mail inbox will start to receive emails from various professionals and gurus who are more than qualified to get the job done.
Like eBay, these professionals have a feedback rating that tells the world at large that they can meet deadlines and perform quality work. Your decision is based in two parts; one the rating that the coder has as well as the bid price. Should both of these meet your criteria, you can select the coder to begin the project for you. You will escrow funds for the coder via credit card or paypal and wait for the confirmation letter for the coder to begin work.
Once your contact information has been established, the coder will work until the job is completed to your liking. Once you approve, you can accept the job as 100% and your project is complete. If you are not happy you can have the coder continue to rework the project until you are satisfied. Once you are satisfied with the quality of work. You can exchange feedback with the coder. The coder