Bakersfield - The 2nd Best City in the Nation to Own Rental Property!!

The following infographic shows that Bakersfield has seen a rental increase of over 12%.  Have you increased your rents lately?  Mission Property Management can help you.

scientia potentia est – Knowledge is Power

Scientia Potentia Est – Knowledge is Power

What does this phrase mean to you?  As a Property Manager you must know your market, your sub-market, current vendor rates, current demographics, rental performance and renovation costs.  This education is invaluable to your profession.  This is what sets you apart from the crowd. 

When you educate yourself, you create the ability to make better decisions, create more evolved and intelligent thoughts, improve the lives of yourself and those around you, and make yourself a more valuable professional.

This, in turn, leads to referrals. The more educated  a professional you are, the more people will want to be around you, the more they will want to work with you, the more they introduce you to others who need your help or can help you, and the more doors and opportunities open in your profession. This high level of professional option gives you the freedom to choose from many different paths. And that freedom is power.

Nothing is more powerful in this industry than an educated professional.  Many of our markets and sub-markets are suffering due to lack of educated management.  When this happens we all pay the price.  Owners are taken advantage of and investors lose income.  When this happens, we as property managers suffer from the bad reputation of a few unprofessional companies when owners and investors lose faith in our industry.

There are many educational resources available to us as professionals.  Check out your local apartment association, industry related blogs and get involved in community related organizations such as the chamber of commerce.  Educate yourself.  Knowledge is Power!

Athena Barnhart

VP Operations

Mission Property Management 

www.missionre.com

Through The Roof - The High Cost of Ignoring Home Repairs

Home maintenance seems expensive – unless you’ve considered the astronomical costs involved with ignoring it. HomeInsurance.com and Redbeacon (a subsidiary of Home Depot) have teamed up to deliver this infographic, which examines some common home maintenance projects and the shocking costs that can result when they go neglected. You might just think twice before underestimating that leaky sink or faulty electrical outlet.

  

Preventative Maintenance plans provided by Mission Property Management can save you time and money.

Athena Barnhart

VP Operations

Mission Real Estate & Property Management, Inc.

3600 Pegasus Dr #15, Bakersfield, CA 93308

www.MissionRE.com

(661) 829-7839

Apartment Rental Prices are on the Rise

It's a normal occurrence, as the economy dips and fewer people are buying, rental pricing increases.  Simple supply and demand.  Good news for owners and management companies.

Here is a great article that shines some light on the current national information:

http://www.multifamilybiz.com/News/5011/Rents_Rose_35_Percent_Nationally_Jumping_Higher_fo...

Are you maximizing your rent potential?  Central California is experiencing  a surge in rental pricing now.  Our average rent increase is closer to 6% versus the national average of 3.5%

Mission Real Estate & Property Management, Inc. is here to assist you with any questions you have concerning your investment property.  Call us today for a free income and expense analysis including a plan to maximize your rent potential.

www.MissionRE.com

Athena Magruder
VP Operations
Mission Real Estate & Property Management, Inc.
 3600 Pegasus Dr #15 Bakersfield, CA 93308
(661) 829-7839

Closing Tip

Staging  a mini-model apartment

We’ve all had that one apartment.  You know the one.  That bane of your existence apartment that has been sitting on your vacancy report week after week.  Now you are closing in on your 30 day mark and after showing this apartment over 20 times, you still don’t have a lease. 

Quit bashing yourself.  It’s not your leasing chops.  Sometimes apartments just don’t lease.  It could be the noisy neighbors upstairs, the back window overlooking the trash bin (who hasn’t had that one?) or any number of things that are completely out of your control.

Instead of dropping your price (again) or offering a ridiculous leasing special, why not try a mini-model?

The mini-model apartment is very similar to a model unit, but it has been strategically stripped down to the bare essentials.  It eliminates the bulk and expense while still delivering results.  The mini-model includes just enough items to give potential tenants the same feeling as a full model apartment.  Let’s take a look at a few things that will help you and your closing ratio.

A welcome mat is essential.  In the Kitchen set up a plate, a cookbook, and a wine glass and a place-mat on the counter.  Drape a kitchen towel over an oven handle and maybe a mat on the floor.   Living areas can require a bit more work.  A chair stolen from your community center usually can work wonders.  As can that potted silk plant from your office.  Throw a nice $5.00 Ross bought throw blanket over the arm and now you have a reading nook in the corner of your empty living room.

Bathrooms can be a nice touch as well.  Grab an inexpensive shower curtain (please make sure you iron it!), a wash cloth, hand towel and a nice paper-wrapped soap on the counter can make an empty, sterile bathroom look inviting.  Hang a few nice hangers (velvet or cloth covered) in the master bedroom closet and place a hat box on the shelf and you have a really inviting mini-model for under $100. 

Happy Leasing!

Athena Magruder

Mission Real Estate & Property Management, Inc.
 3600 Pegasus Dr #15 Bakersfield, CA 93308

http://MissionRE.com

The BOLT system as it applies to leasing

The BOLT system as it applies to leasing

Charles J. Clarke III is the creator of the BOLT System for getting the results you want from any interactions with people. Based on decades of scientific research, this system can be used for closing sales, for designing advertising, for generating leads, or for negotiating. The skills can also be used for managing coworkers or for getting along with relatives.

BOLT stands for Bulls, Owls, Lambs and Tigers. These particular animals represent the four specific personality types different people can have. Every person you ever meet will be one of these four animal types. Charles teaches you how to identify which animal type a person is, and how to speak their language in the way that’s most persuasive to them. This proves to be very useful in many areas of life.

Not only will your closing ratio improve, but your customers will also feel more satisfaction, because you will actually understand their needs and their motivations.

The Bull

Bottom line / Get to the point

Seeks to control the negotiation

How to recognize a “Bull”

·         He/She will have an extremely powerful presence.

·         His/Her handshake will be strong and firm, usually just one quick shake.

·         He/She seems to know exactly what they want and gets right to the point.

·         “Bulls” tend to be a bit stern and may seem humorless when they first meet you.

How to sell to a “Bull”

·         “Bulls” are very business-like.  Stick to the facts.  Provide immediate, accurate facts and figures.

·         Remain highly professional at all times.

·         Listen closely to his/her needs

·         Demonstrate how your property is the logical choice.

·         Be direct and brief.

The Owl

Very analytical detailed orientated researcher

Seeks logical order

How to recognize a “Owl”

·         He/She offers a strong, squeezing handshake.

·         He/She thinks more than they talk.

·         He/She is extremely observant and detail oriented

·         They may come armed with a notebook.

·         He/She will ask a lot of detailed questions.

How to sell to an “Owl”

·         Working with an “Owl” requires extensive product knowledge.

·         Provide specific information.

·         Put your information in writing whenever possible.

·         If they ask you a question that you do not know the answer to, find it.

·         You’ll need to be patient.  They will not make a decision until they have all of the facts.

The Lamb

Seeks To Please People, Avoids Conflict

Takes Forever To Make Up Their Mind

How to recognize a “Lamb”

·         He/She offers a limp “dead fish” handshake.

·         They may be reluctant to shake your hand at all.

·         He/She will appear nervous or flustered.

·         The prospect of moving causes great stress.

·         He/She will be hesitant to interact with you and your product.

How to sell to a “Lamb”

·         When working with a “Lamb” you must be extremely supportive and understanding.

·         Help to ease their burden.  Emphasize that you intend to make his/her life easier.

·         Make sure your approach is personable, gentle and reassuring.

·         Be patient.  They will not rush into any decisions.

·         However, you may need to encourage a bit or they may never decide.

The Tiger

Very Expressive and Fun-Loving

Impulsive and Excitable

How to recognize a “Tiger”

·         He/She is energetic, expressive and fun loving.

·         The handshake will be warm and generous with multiple pumps.  If you don’t get a hug instead.

·         “Tigers” can be loud, funny and employ body language such as pointing.

·         “Tigers” are highly social and may bring a friend or two.

·         He/She will interact with you and your product throughout the tour.

How to sell to a “Tiger”

·         Offer a tour that is warm, entertaining and fun.

·         A “Tiger” loves to talk about themselves, so let them do so.

·         Stress how your community provides social opportunities.

·         Focus on how they feel about the move and your community instead of facts and figures.

·         You will need to follow up with them regularly until the move in date to make sure they do not cancel.



Athena Magruder
V.P. Operations
Mission Real Estate & Property Management Inc.
3600 Pegasus Dr #15 Bakersfield, CA 93308
www.MissionRE.com 
(661) 829-7839