NARPM Radio

You are now the new manager of a property. You send a letter to the new tenant giving your contact information - but that's not enough. It's a common mistake and you could run into problems if that's all you do. This episode, featuring attorney Harry Heist, looks at the action items to take and remember, "verbal is not enough." Be sure to consult with your own attorney on any legal questions, as laws vary from state to state.

Join us for this live Q&A with Trevor, Todd and Matthew who will talk about NARPM® Accounting Standards.  The NARPM® Accounting Standards (NAS) is an initiative designed to assist NARPM® in elevating the property management industry by collectively establishing an acceptable standard of accounting practices.  Specifically, the goal of the NAS is to create and endorse a set of accounting standards that will provide uniformity around financial practices and reporting.

Discussions include:

• Data and Performance Metrics – Your company vs. other similar companies
• Revenue vs Expenses – “I really knew where my revenue was coming from after switching to NAS – Hint: It wasn’t management fees!”
• Moving from QuickBooks Desktop to QuickBooks Online
• Choosing your approach: Working with ProfitCoach vs. Do It Yourself

What are some great tips for managing your time better? How do you set goals and bonuses for your staff? This webinar, hosted by The Property Management Coach Kathleen Richards, answers these questions and more in an interactive session with property managers from around the country. What are typical goals and how is performance measured? What about setting up typical pay structures? Do you use Quickbooks and if so, how do you manage the options? What about tips on taking yourself out of the day-to-day management of your office? Kathleen is a wealth of information on these topics and more in this 54-minute presentation.

How do property owners know they’re hiring a qualified property management company that operates within a clear set of standards? The best way is to look for members of the National Association of Residential Property Managers, or NARPM. Eric Wetherington served as the 2019 National President of NARPM. Today, he joins NARPM member Bob Preston of North County Property Group to discuss the educational opportunities available to members of the organization, explaining who establishes its curriculum and what national, state and local events are open to members.

"NARPM members have a certain standard in their business," says Wetherington. "I really feel strongly that property investors benefit when they choose a NARPM member because they get ...a higher level of service.

Listen in for Eric’s insight around the legislative influence NARPM has developed and learn how YOU can benefit from the Code of Ethics and spirit of sharing unique to the NARPM community!

How long do I keep records, and in what format? Electronic, paper? Document retention policies are extremely important, and now you can learn the answers to these questions in this episode featuring Florida property management attorney Harry Heist. As always, check with your own legal counsel for specific issues related to your state laws.

You've been trying to reach the owner with no luck. Finally, you find out that he or she passed away. What do you do? Where does the deposit money go? Find out in this podcast by attorney Harry Heist. Note that estate law varies from state to state, so contact your attorney for specific advice in your area.

What's the difference between 'normal' business banking and property management banking? Allison Disarro of Seacoast Commerce Bank explains this and more about why you need a trust account with attorney John Broadway of NARPM. Allison can be reached at adisarro@sccombank.com if you have additional questions.

It's better to have your owner hold the deposit, right? No, says attorney Harry Heist. Find out why. Consult your local attorney for specific advice related to this topic. 

Your tenant just broke the lease and left. Attorney Harry Heist discusses what happens to the security deposit when this happens. Always consult your local attorney for specific advice related to this topic as state laws can vary. 

Someone died in the rental property. Florida attorney Harry Heist takes a look at whether a tenant can leave a lease when the property is stigmatized in this podcast. Consult your local attorney for specific advice related to this topic.