What kind of training does a property manager need?

If you are considering a career in property management, you should know that your career can go in a couple of different directions, depending on where and what kind of properties you manage. Property management is an exciting and challenging industry and you will do well if you can be organized, stay on top of current laws and regulations, and maintain a strong network in your community.

If you are interested in becoming a property manager, you should first look for training in property management that suits the specific field in which you are interested in working. For example, most apartment communities utilize a property manager to interview prospective tenants, collect rent and oversee maintenance needs. You should focus your education on business, negotiation skills, communication and finance.

Commercial property managers, while performing many of the same duties as apartment property managers, may also be involved in negotiating contracts and handling leasing arrangements. A strong understanding of contract laws and the specific regulations that govern your town and state will be required.

You can receive certification from The National Property Management Association, and take certificate training programs that can provide you with a professional designation, and credibility as you look for open positions in property management. A certificate shows employers that you've received training in asset management, tenant communication and contracts.

If you would like to take your education further, you can receive a bachelor's or master's degree in residential property management. The curriculum includes courses in interior design, marketing and leasing, management, accounting and real estate law. During the course of study, you will take the certified apartment manager certification exam.

It is important that you consider membership in associations in your community. In addition to networking opportunities that have the potential to advance your career, you can find a number of continuing training opportunities. Look for groups such as the American Apartment Owners Association and the Property Management Association.

Property management careers can be exciting and rewarding for people who like to work with a variety of people, solve problems and be a valuable resource. If you are interested in careers in property management in the Carolinas, please check out the Kuester Contact page.

Before You Join an HOA Community

A Homeowner Association (HOA) is a legal entity created to manage and maintain the common areas of a community. Generally these"common areas" consist of things like pools, clubhouses, landscaping, parks, streets and roads, but a HOA also governs the CC&Rs, the Declaration of Covenants, Conditions & Restrictions, or set of rules that are typically set up by the developer and updated/changed by the Board of Directors. The CC&Rs are what determines if it is ok for you to leave your garbage can out for more than a day or if you are allowed to leave a car up on blocks in your front yard, or if your neighbors will have recourse if you choose to paint your shutters purple when theirs (and the rest of the neighborhood's) are black.

The HOA will enforce these CC&Rs in the way that is approved by the Board of Directors, often with the assistance of a property management company. These polices are developed to protect the neighborhood, the value of the homes and the quality of life for the residents. However, these policies can be changed if the majority of the voting neighbors would like them to be. So before you buy a home in an HOA, here are some things to consider:


1) You should thoroughly read and examine the CC&Rs that govern the community and make sure you can live with and abide by them. If the regulations state that you cannot have goats on your property, and you are a goat owner... this may be a sticky point! But if you think that 24 hours is plenty of time to leave out your recycling bin and you feel that is a fine policy and want your neighbors to abide by the same....an HOA may be perfect for you.

2) You are perfectly reasonable to ask for a copy of the financial statements of the HOA and have a person such as a lawyer or accountant examine them to make sure there is nothing irregular. Checking to see if the HOA runs its business in a responsible manner will help you determine if the neighborhood will have enough cash on hand to make upgrades and repairs to roads or other common areas such as the pool.

3) Find out what the monthly dues are and make sure you can afford them. Dues can be reasonable... or not depending on where you live, what the HOA does and your tolerance for the price-tag. But not paying them could put you in some serious hot water and potentially get you sued.

4) Find out if the HOA has a strategy for replacing of major items such as heating, cooling, roads, buildings and roofs and how the reserve requirements are funded. (i.e. has money been saved, or would the neighbors each be required to pay an additional amount should the basketball court need to be re-surfaced.)

5) Find out if there is any litigation pending against the HOA. This could be a red flag in a couple of different ways, and certainly something you should know before you sign your contract.

6) Ask about when the last time dues were raised, and how often this happens. For obvious reasons you want to know how much you may be expected to fork over!

An HOA community may be a great fit for you and your family and more an more Carolinians are making this choice. But be educated before entering into any contract, especially one concerning where you live and what you can do with your property.

Property Manager
Kuester Property Management

Multi-Family Rental Units

Before you consider purchasing a multi-family rental unit, it is important to consider the cash flow potential of the building. There are many complex models with which to make the calculation, but the best one is a straight forward look at the historical data on the building and comparing similar properties.

A great place to start is to pick up a free copy of a "Renter Guide" or other apartment search magazine. Check out the available rentals for comparable sized units (sq footage), and number of bedrooms within the same vicinity as yours. If there are apartments located within the same neighborhood as your units, find out how much they are renting for. Your prospective renters will be comparing prices, so you should know your competition. Consider options, updates and other features. What makes your unit better? What are some selling points that your units offer?

Once you have researched the comparables, you should request the Schedule E from the current owner. This document is the income or income loss statement for the unit and shows the rental income and expenses and the net income or loss generated for the year. Remember that a net loss is not necessarily a bad thing, as most owners will try to report a loss for tax purposes. You will need to look beyond the bottom line to examine the rents charged. What are the rental prices of the units (are they at or below market value?) What is being charged for utilities? (And what is the actual cost of utilities?) Are there units that spend a long time vacant? How long does a unit sit vacant on average? If a unit sits empty it could mean that it is not a good investment—or it could mean that the landlord did not market the unit properly. Ask the seller—there may be a good reason. You should also check to see what major expenses that the units had – such as electric work or a new roof. This could be the reason for a loss being shown, but are really positives for you. This says that the owner maintained the property, and those are things you won’t need to take care of in the first year of owning a new investment property.

Your next step is to do some simple math. You can expect that for every dollar you make in rent – you really make $0.95. This will roughly take into account the amount of vacancy time you might have. Take that amount and subtract your monthly expenses such as utilities, insurance, lawn care, etc. and your monthly mortgage payment. Then deduct 10% for incidentals for repairs. If the number ends up a positive… then multi unit investment property may be for you!

Finally you should ask the current owner what the length of each current tenants lease is. If the property is currently renting for under market value, you will need to know when you will have the opportunity to raise the rent to the market price.

Advantages of Hiring a Property Manager

Have you ever wondered what the advantages are of hiring a professional property manager?

When a property manager is hired, the property owner or landlord can rest easy, knowing that they have a property management company working for them. The owner does not have to be concerned about marketing for and screening tenants, and they do not have to worry about daily maintenance issues. This frees up the owner to deal with their own business or hobbies and provides a buffer between them an their tenants.

Another advantage of working with a property management company is that the property manager takes on the responsibility of monitoring & maintaining occupancy levels and choosing the right tenants. Also, the property manager can handle the administrative functions of the property and make sure that the occupancy is high.

A good property manager will be a salesperson--able to persuade potential residents/tenants and buyers and have strong marketing skills to find the right people and/or businesses. A property manager will also make themselves available to handle building inspections, property insurance matters, maintenance requests, and showings.

A primary function of the property manager is to handle the finances and make sure residents pay and submit their rent payments on time. They are also involved with managing the finances and budget of that specific property. All insurance paperwork, taxes, billing, and scheduling of property bills can be the responsibility of a property management company, as can the ordering and maintaining supplies and equipment and collecting payments from the tenants.

Property managers can also supervise maintenance and cleaning crews, coordinate marketing and advertising efforts and know exactly the right time to bring in new tenants. In short, a property manager can take care of everything that you would need as a property owner, and do so effectively and efficiently.

Let us know if you are interested in learning more about property management or how Kuester would be able to help you market and manage your Carolina property.

Looking to Lease?

Are you looking to lease a commercial space for your business? There are several factors to condisider when trying to find the right place... that is, afterall, why they say: Location. Location. Location!

The first thing to do is to find the right part of town to locate your business. Is Uptown Charlotte your best bet, or is suburb Fort Mill, SC more your speed? Do you need a stand-alone office, or a high-traffic retail spot. Identifying who your clientele is, and where they are will help you choose the right types of locations.

Once you have narrowed it down to a genre of locales, you can start looking at specifics and what is available. Check out thet Kuester site for available properties in your area. Here are some other factors to consider:

1) Are there other businesses in the immediate area that would compete with you?
2) Are there businesses in the immediate area that complement your business? (i.e. a restaurant and an ice cream shop).
3) Is there enough parking for your customers/clients?
4) Does the area have foot traffic?
5) Is the location near a major roadway?
6) What is the rent price?
7) Is there area growing or established?
8) What kind of upfits will you need to have done?
9) When will the space be available
10) What are the contract terms?

If you are interested in learning more about the available properties that Kuester has to offer, just check out our website at www.kuester.com.

Commercial Property as a Retirement Investment

What is your long term plan for income after retirement? Many people, especially those who have been in business the majority of their adult lives, have chosen commercial property as a way to provide themselves with long-term monthly income through their retirement.


A good choice in commercial real estate can not only earn you the money to live off of, but be a significant asset in your estate, even after your death.


Investing in commercial real estate, as much as it has great potential, is not a decision that should be entered into lightly. As with any investment, there is risk involved, but there are several things that you can do to reduce that risk:



1) Do Your Research: Take your time and research the property before making a purchase decision. What is the land zoned for? Has there ever been any problems on the property, are their current tenants? Are the buildings (if any) sound and ready to be leased, or will work need to be done first?



2) Make sure you have enough money: The purchase price may be in your budget, but is the cost of needed repairs, fees, taxes, maintenance, management, etc.



3) Consult your attorney: As with any real estate transaction, having an attorney to advise you and go through the contract is a must to be able to project yourself.

Investing in commercial property can be a very wise decision--one that could see you comfortably through your retirement. However, it is a choice that should come only after long and careful consideration!

If you would like to know more about investing in commercial real estate in the Charlotte area, just give us a call at 888.600.5044!

Kuester Property Management

Should You Invest in Real Estate?

Real estate investing can be risky... and very rewarding! The first thing you should know about property investment is to be careful with "too good to be true" and "sure bets." As with any opportunity, there are people who look to take advantage of others and it is important to not get caught up in schemes that can bankrupt your before you ever get started.

If you are seriously considering investing in real estate property, here are a few things you should know to get you started.

•You should have plenty of investment capital, not only to make the purchase, but to make the necessary upgrades and pay the taxes. If an opportunity comes to you and you are being sold a "no-money-down" option, this is probably too good to be true. Also, if you are asked to take a huge loan that will put you in a debt you can't get out of, this is probably too good to be true! Always go into an investment with cash on hand and plenty to live off of as well!

•You should have a good knowledge of the real estate market and the area in which you are looking to buy property. Is this an area that is growing? Are there businesses to support your tenants or future buyers? What are other properties in the neighborhood selling/renting for?

•You should have good management, people and negotiating skills--or you should have a property management company work for you that does. Collecting rent, managing repairs and finding tenants can be a difficult job.

•You should have the ability to do repair work, access to people who can do it for you, or a good property management company who can arrange and coordinate the work that will need to be done.

•You should have a relationship with a property inspector who can evaluate properties before you buy them and validate the claims by the sellers of repair work that they have done.

Finding a good property in which to invest and making that into a rental property, or turning it around for sale can be a job in and of itself. That is why many people are turning to property management companies to turn their investments, into profitable businesses.

If you are interested in learning how a professional property management company in the Carolinas can assist you with your investment property, please contact Kuester Property Management.

What you ALWAYS need to do when you own rental property

Do you own rental property? Here are a few tips for you and your property management company to keep your business running smoothly.

1. Always Screen Your Tenants.
Never rent your property to anyone before doing a thorough credit history, checking references, and doing background checks. Failure to screen tenants often result in problems such as late-paying tenants, or those who damage the property. Your property management company should be able to assist you, (or in some cases completely manage) the tenant screening process.

2. Always Get It In Writing.
It is never wise to enter into a property agreement without a written lease or month-to-month rental agreement. It is important to document the terms of the relationship with your tenants -- including when and how you, or the property management company will handle tenant complaints, emergency and non-emergency repair requests, notice you must give to enter a tenant's apartment, etc. Your property management company should be able to assist you with a proper contract.

3. Always Handle All Financial Transactions Properly.
Establish a fair system of setting, collecting, holding, and returning rent and security deposits. Always inspect and carefully document the condition of the rental unit before any tenant moves in, (and make any necessary repairs to keep it in rent-ready condition) to avoid disputes over security deposits when the tenant moves out.

4. Always Stay on Top of Maintenance.
Maintaining a clean and safe property as well as making the needed repairs in timely fashion is vital to being successful at rental property ownership. If the property is not kept in good condition, you'll likely alienate good tenants, and tenants may even have the right to withhold rent, or sue for injuries caused by defective conditions, or even move out without needing to give notice.

5. Always Provide a Secure Environment.
Your tenants deserve a safe a secure premises. Assess your property's security situation and take the appropriate steps to protect it with proper lighting, tidy landscaping, security patrols where necessary and whatever else you need to do to protect your assets and tenants.

6. Always Let Tenants Know Before You Enter Their Rental Units.
It is not only polite, but in many cases the law to notify your tenants whenever you plan to enter a rental unit. You should provide as much notice as possible, at least 24 hours or the minimum amount required by state law.

7. Always Disclose Environmental Hazards.
If there's a danger such as lead or mold on the property, you need to disclose this to your tenants. You could be held responsible to any health problems your tenants suffer due to these types of hazards. It is always best to remedy the situation properly and as soon as possible, but at the very least you need to let the tenants (and potential tenants) know.

8. Always Work With a Reputable Property Management Company.
Choose and supervise your property management company carefully. Choose a company with a good reputation, references and experience managing the specific type of property you have in that market.

9. Always Purchase Liability and Property Insurance.
It is important to protect yourself by purchasing enough liability and other property insurance. Insurance can protect you from lawsuits by tenants. Injuries, fire and storms damage, burglary and vandalism are all things that can happen, and you should carry insurance to keep a small disaster from turning into a major one.

10. Always Resolve Disputes Quickly.
Dispute will occur eventually—in any time of property relationship. It may be something small—such as a client paying a day late each month, or something big, like the need to evict. But it is important to resolve disputes with your tenants quickly and without lawyers and lawsuits when possible. If a dispute becomes more difficult, you can consider mediation by a neutral third party, (again, your property management company can be very helpful here). By addressing any issue that arise quickly, you will be able to avoid costly and potentially devastating repercussions.

Kuester Property Manager

So You Are Thinking It Is Time To Own Some Rental Property

We hear the naysayers all the time. Not a great return, too much hassle, I don’t know what to do, etc... The fact is, that rental property is a stable and great investment. Let’s break it down for you…

Owning rental property can be a great source of steady income if handled properly, or it can be serious profit when looking for a long-term real estate investment. Going about both is a bit different though – so you have to be honest with yourself about your short-term and long-term goals. Deciding which way you want to go depends on several things.

Rental property is much like your own personal property…Well, you own it just like you own the home you live in! The owners/renters - you - have all of the standard legal obligations of owning property, including taxes, the mortgage, insurance and any other expenses. You also need to be aware of the condition of the property at all times and maintain a safe living environment for your tenants. There is also the investment of time in managing the property. Who is going to do repairs, mow the lawns, shovel the sidewalks, follow up with tenants if rent isn't paid, see that all rules are being followed, settle disputes...the list is a long one. Even if you can’t do it – a good property management agency can do it for you.

If you decide you want to keep your rental property as a long term investment – and not a short term windfall – take some extra thought. Be sure you protect yourself financially and legally. Owning rental real estate means knowing how to handle tenant effectively, fairly and legally all the while making sure you are covered.

Investing in commercial property can be a lucrative venture. However, you can capitalize on your return by boosting your commercial property's value by adding some investment friendly features. These improvements can run the gamut from a substantial initial payment to a mere investment of your time and sales skills. You can take a piece of undeveloped land and increase its value exponentially by using a few techniques to give it more selling power and you a higher profit.

If you find inexpensive and high-end property, consider this: Property that is on or near golf courses, lakes or beachfront is usually always a safe bet. Plenty of people have made a mint from rental shore homes. Sea or lakeside property is a rare commodity and should be jumped at quick! Ocean front condos in Myrtle Beach for example are great for increasing your profits from commercial property!

Kuester Property Management

Considering a New Business in the Carolinas?

Are you considering opening a new business or a second location in the Carolinas? There are many benefits to working with a professional commercial brokerage and leasing realty company.

A professional commercial brokerage can take the time to walk you through the process of buying commercial property. They will assist you in finding the property that best meets your needs and coach you through the buying process.

Buying or leasing a commercial business space is just the beginning of the journey, one which will hopefully be profitable and fulfilling. Work with a professional organization that knows business in the Carolinas. Work with Kuester.

Currently Kuester has several properties for sale and for lease, and we would be happy to work with you. Please call us at 704.973.9019.

Investing in Commercial Property

For serious investors, commercial property can be a lucrative purchase. Commercial property is a valuable resource that can be costly-but has a high ROI if managed properly.

A commercial property investment has a primary goal of generating income. You want your investment to work for you. Based on current market trends and future projections, you need to be sure that the value of the property will appreciate so that should you you need to, you can sell the property at a profit.

It is rare that you will have all the necessary capital necessary to invest in a new commercial property. Financing may be a crucial part of your investment. You will likely require a commercial property loan. To prepare for this loan, you you will need documentation on your business operations, your financial status and earning potential and the property title deed. While it is a buyer's market, lenders are none-to-eager to make loans unless they have assurances that their investments are protected.

You have your pick of plenty of great commercial properties, so shop around before choosing a piece of property. Your commercial real estate agent will be able to assist you in finding the best property for your needs and budget.

Investing in commercial property can be a smart way to grow your money, but not everyone can be successful--there are many factors that come into play, so take all the necessary precautions by choosing a good agent, using caution when choosing a property and hiring a reliable property management company.

For information on commercial property investing in the Carolinas, please check out our website: www.kuester.com