Hello brainstormers!  Wishing you all a very happy and safe 4th of July holiday. I'm taking a pause in broadcasting while I'm on vacation during the first half of July.  Propery Management Brainstorm full episodes and Five Minute Fridays will back be back on the air with great content again as of July 23, 2020. Thank you so much for subscribing, listening and supporting Property Management Brainstorm!  Bob Preston, podcast host.

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FMF #32 Happy 4th of July! We'll Be Back on the Air July 23rd

In this episode 31 of Five Minute Friday, Bob shares with his listeners one of the most common questions he gets from prospective clients: are we locked into a long-term property management contract? The answer is and has been, for the 20-year history of his company, an emphatic "no".  Bob calls this his Satisfaction Guarantee. If for whatever reason a client is not satisfied, they can discontinue North County Property Group's services at any time on 30-day notice. Bob further explains that from his perspective, life is too short to be in business relationships with people who are angry or disatisfied. Besides, it rarely happens that an owner wants to cancel and it is a competive advantage when bringing on new clients, especially when the property owner is coming from another property management company he has already fired. This cancellation policy holds Bob and his staff to what he calls an "SLA", or service level agreement to keep owners and tenants happy. Connect with Bob North County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

FMF #31: Our Satisfaction Guarantee

Bob continues a series of podcast episodes dedicated to the topic of security deposits. For most landlords, security deposits continue to be a highly challenging aspect of leasing rental properties. Laws are changing, tenant move-in costs can be prohibitive, and security deposit deductions can often lead to conflict. Bob discusses these challenges with Derek Merrill, Co-founder and CEO at LeaseLock, a company promising to eliminate the need for security deposits.  Topics Covered[2:20] Introduction to Derek Merrill, LeaseLock and the concept of "zero deposits" through their Lease Insurance products.[8:00] Landlord/tenant laws having an impact on alternative approaches to security deposits..  [12:00] Are flexible financial aspects of leasing here to stay due to COVID-19 pandemic?[16:15] Derek explains the competitive differentiation of Lease Insurance when compared to surety bonds and other solutions.  [21:00] The process of filing claims through LeaseLock is discussed as opposed to deducting charges from security deposits.[24:35] Derek describes a full scenario of how Lease Insurance works from start to finish during the course of a tenant's lease.[34:00] Derek shares a story about the mission for LeaseLock and the positive impact they are having on tenants who are in need of financial assistance in obtaining a rental property.[37:40] Final words on what the new generation will demand in terms of the speed and ease of leasing a rental property.Connect with Derek MerrillLeaseLock WebsiteEmail: derek@leaselock.comConnect with Bob North County Property GroupResources MentionedSquare: You can do a lot with Square: accept credit cards, power your business with a free point-of-sale app, get real-time sales reports, and much more. All this with no sign-up costs or long-term contracts.Plus, your first $1,000 in credit card transactions are processed free when you sign up by clicking through on this link: Try Square for free today!This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify,  TunedIn,  iHeart Radio and YouTube. 

Episode 41: Zero Deposit Leasing, featuring Derek Merrill, CEO at LeaseLock

What is corporate responsibility and why is it important?  In episode #30 of FMF, Bob explains why he believes in the concept of corporate responsibility for his business as a property managment company at North County Property Group. The objective is simple ... be accountable for our actions to our stakeholders and local communities.During the current times of COVID-19, Bob explains how North County Property Group began the rethink its philonthopic pledging as part of their corporate responsiblity program. The company decided to start its own direct giving fund called NCPG Cares for the benefit of tenants in need of assistance due to financial hardship during the coronavirus pandemic. Have a listen to learn more about NCPG Cares and how the company makes a contribution each time a new property is added to their San Diego property management portfolio. Connect with Bob North County Property GroupLearn More About NCPG Caresncpgcares@ncpropertygroup.comThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

FMF #30: Commitment to Corporate Responsibility

On this week's FMF, Bob discusses the lingering impact of COVID-19 on tenants who have suffered a job loss, decreased work hours, medical expenses, or other loss of income. Many laws and local ordinances have been implemented to protect tenants with eviction moratoria if they have had financial impact due to the coronavirus. There have been no laws established, however, which  give tenants a free pass or restrict a landlord from recovering rent at a future time. As landlords and property managers, what then should we do?Bob gives an overview of what he considers to be the two primary options: rent forbearance and early lease termination. He explains each and provides the pros and cons of the two approaches as solutions for tenants with financial impact from coronavirus.  Connect with Bob North County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

FMF # 29: Rent Forbearance or Early Lease Termination?

On this episode, Bob discusses legislative updates in 2019 and 2020 that impact California landlords with Tracey Merrell, Managing Attorney of Education, at Kimball, Tirey & St.John (KTS). Along with other updates, Tracey provides a thorough review of the Tenant Protection Act of 2019 (AB 1482) which imposes rent caps and just cause eviction restrictions for residential rental property throughout California.  Comments made are for general information purposes only and is not intended as legal advice. Participation in the podcast will not create an attorney-client relationship between the listener and Tracey Merrell or with KTS. For advice with specific issues, please contact an attorney. Legislative updates discussed are not exhaustive and the interpretation of the laws may change.Topics Covered[3:00] This episode is within the context of CA landlord/tenant law.[3:30] Introduction to Tracey Merrell.[4:30] KTS risk management disclaimer.[6:10] Tracey reviews the Tenant Protection Act of 2019 (AB 1482) pertaining to Rent Caps and Just Cause.  [20:10] Tracey explains the notice required for rent increases over 10 percent (AB 1110).[22:25] Temporary roommate situations to persons at risk of homelessness are now a law under AB 1188.  [29:20] AB 2343 changes 3-day notices in the way that the days are counted.[32:50] Under SB 234, is a landlord required to rent to the owner of a day care who wants to run the business out of the rental home?[37:20] Proposition 65 warnings regarding materials and chemicals that may be present in the rental home.Connect with TraceyKimbell, Tirey, St. John LLPEmail:info@kts-law.comConnect with Bob North County Property GroupResources MentionedFree eBook: Bob Preston’s new eBook, Best Practices for Renting Your Home, find it here as a free download! https://www.ncpropertygroup.com/ebookLinks to the various legislative updates:AB 1482AB 1110AB 1188AB 2343SB 234SB 644This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify,  TunedIn,Buzzsprout - Let's get your podcast launched! Start for FREEDisclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Episode 40: New California Landlord/Tenant Laws for 2020, Featuring Tracey Merrell of Kimball, Tirey & St. John LLP

On this week's FMF, Bob discusses the concept of lagging indicators and considers if there might be a maintenance surge coming for those of us managing rental properties. As a quick definition, a lagging indicator is a data point that tells you what has already happened.  Most of us in managing our rental properties focus on lagging indicators in the form of financial statements to track rent collected, revenue, bank balance, and profitability.  Bob explains that a lagging indicator he has been watching lately is the number of worker orders (maintenance requests) being received monthly. His company tracks this, along with other data points, on a monthly report that is produced by our accounting department. Maintenance request volume has been trending down starting in February and continuing down by 20-30% in March, April, and May. This is an interesting anomaly but it is logical to assume that the service issues aren’t disappearing… they are waiting to be submitted. He encourages listeners to be prepared for what could be a surge of maintenance requests in the coming months. Assuming things start to return to normal this summer or fall, you can assume your maintenance team will be working hard to catch up to bring your properties current. Bob also describes some methods he has implemented at North County Property Group to get ahead of the curve. Check those lagging indicators and make a prediction to be ready for increased maintenance requests in the second half of the year.  Connect with Bob North County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

Five Minute Friday #28: Is a Maintenance Surge Coming?

On this week's FMF, Bob makes a fun announcement that he is now an RMP!  Some of you may be wondering, what the heck is that? Those listeners who are property management members of NARPM likely already know.  RMP stands for Residential Management Professional, a designation awarded by the National Association of Residential Property Managers.The RMP designation is earned and awarded to individuals who successfully pass through an application process to document their of years of property management experience, NARPM and industry education, and service to the association through volunteer activities. Bob also explains that he is continuing his learning and leadership to the next level and has applied for the next designation level called the MPM (Master Property Manager)! Bob also announces a new leadership role, having accepted the nomination as “president elect” for Cal NARPM,  the California State Chapter for NARPM. More to come on Bob and his involvement at the state level when Bob takes office as President of Cal NARPM in July 2020. Connect with Bob North County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

Five Minute Friday #27: I'm an RMP and Cal NARPM President Elect!

As a landlord or property manager, have you ever wondered what it would be like to rid yourself of the need for security deposits? For most landlords, security deposits are one of the most challenging aspects of managing a rental property. It can be conflict laden at the end of a lease and in most states there are rigid regulations and laws which must be followed on when and how the deposit needs to be returned to the tenant. On this episode, Bob's guest is Casey Winter, Vice President of Partnerships at Obligo, a company which provides a way for people like us, landlords and property managers, to rid ourselves from the burden of security deposits. Topics Covered[2:35] Casey tells us about himself and what Obligo is all about.[4:45] Bob and Casey discuss the pros and cons of insurance solutions and surety bond products for replacing security deposits.[9:15] Open banking technology and how it helps Obligo provide their "deposit free" leasing solution.[13:00] What are the costs, who pays, and are there processing fees?[15:45] Casey explains why most tenants are eager to participate their deposit free program.[17:50] Bob askes Casey to take listeners through a start-to-finish scenario of how Obligo works and the associated workflow steps for tenants and landlords.[21:15] How Obligo qualifies a tenant for participation in the deposit fee program.[23:45] How the Obligo solution can reduce the burden of move-in costs for a tenant.[29:15] Where is Obligo offered and in which states is it availalbe?[36:15] Casey shares his thought on weathering the storm of the COVID-19 pandemic and emerging stronger when we come out on the other end.Connect with CaseyObligo websiteConnect with Bob North County Property GroupSponsorReduce hassle and improve your operating income through smart property automation and connected devices from PointCentral. Click on this link to learn more and get a free HVAC analytics test when you place your first order! www.pointcentral.com/brainstorm/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify,  TunedIn,  iHeart Radio and YouTube. 

Episode 39: Say Goodbye to Security Deposits, Featuring Casey Winter of Obligo

On this week's FMF, Bob explains why he believes it's a mistake to not acknowledge the COVID-19 pandemic on a company website. Call it reality marketing. He further offers his rationale for placing a pop-up on the North County Property Group home page to communicate available resources which may be helpful to their stakeholders. Here is a copy:As the COVID-19 crisis continues to have an impact on our stakeholders (tenants, rental applicants, property owners, and maintenance vendors) North County Property Group has never been more aware of our purpose and responsibilities related to property management.As we get through this pandemic together, here are some resources which may be helpful to our NCPG stakeholders:Virtual Tours of Property Listings: Narrated tour videos and 3D/360 degree digital tours to allow for viewing our property listings virtually.Direct Cash Payments: You may be eligible for up to $1,200 for individuals, $2,400 for married couples, and $500 for each child through the CARES Act:Unemployment Insurance: Benefit amounts have increased for those impacted by the COVID-19 pandemic. California COVID-19 Website: State of California website, including resources to apply for unemployment, disability benefits, and paid familyCenters for Disease Control and Prevention: Visit the CDC website to stay informed on preventing COVID-19.  County of San Diego Department of Environmental Health: frequently asked questions and guidance for residents of San Diego County.2-1-1 San Diego: 24/7 hotline providing up-to-date Coronavirus information and resources. Rent Forbearance Requests: If you are an NCPG tenant and have suffered a job loss, accrued medical expenses, or other substantial loss of income specific to COVID-19, and are unable to pay future rent for these reasons, please click on this link to download our COVID-19 Rent Forbearance Request Form.We are fully operational and working diligently, every day, to exceed stakeholder expectations during this unprecedented time. Connect with Bob North County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

Five Minute Friday #26: Reality Marketing

In the State of California and many cities throughout the country, including right here in San Diego, a housing crisis has emerged in which many citizens have become homeless or live in substandard housing. Simply put, housing that people can afford may now be more out of reach than ever. On this episode, Bob discusses the housing crisis with California State Assemblymember Todd Gloria. Assemblymember Gloria is also running for Mayor of San Diego, on the ballot in the November 2020 election. Topics Covered[2:30] Todd introduces himself and talks about his journey toward a career in San Diego and State of California public service.[6:00] Bob and Todd discuss the 60 Minutes segment about the housing and homeless crisis in Seattle and how it compares to what is going on in San Diego.[8:00] Caring for the homeless during the COVID-19 pandemic.[15:00] New housing development needed to keep up with population growth in California.[17:55] The CASA Act and other Assembly Bills championed by Todd to prioritize affordable housing..[26:00] Tackling the housing crisis in San Diego.[30:45] The Tenant Protection Act - Rent Caps and AB 1482.[33:00] Vacation Rentals and the need for regulation in San Diego.[37:10] The budget shortfall facing San Diego and how Todd will manage it if elected Mayor.[39:30] Todd comments on being the first LGBTQ and person of color if elected as Mayor of California.Connect with ToddTodd Gloria for San Diego MayorAssemblymember Todd Gloria District 78Email: c a m p a i g n @ t o d d g l o r i a . c o mConnect with Bob North County Property GroupResourcesTackling Our Housing Crisis - By Todd GloriaThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify,  TunedIn,  iHeart Radio and YouTube. 

Episode 38: Tackling the Housing Crisis, Featuring Todd Gloria, California State Assemblymember and Candidate for Mayor of San Diego

Last week on FMF I talked about being the Lighthouse, a metaphor for being a strong leader to guide your team during times of crisis like this current Covid-19 pandemic.  This week, I plead with you to not be the opposite of being the lighthouse.  Don’t be a weenie!Weenies are whimps, lack resolve, and avoid tough decisions. If this is you and you are a self-managing landlord, it may be time to consider hiring a property management company.  For all of us in this industry of real estate investing, owning rental homes, being a landlord, or property management, I firmly believe that those who take the time now to streamline and restructure the way they are doing things will emerge at the end of all of this stronger than ever.  You must have the willingness to make tough decisions you’ve never made before.  You can do it!  The solutions are often simple, their just not always easy to implement.Here is a tip: Build a Start/Stop/Continue list. On a piece of paper, create three columns, and at the top of the first column write “Start”, the second column write “Stop”, and in the third column write “Continue”. Now list your various policies, procedures, company practices in the appropriate column and respond accordingly moving forward.Topics Covered[0:55] Bob explains what he means when he says "don't be a weenie".[1:20] During this critical time, your stakeholders need to hear from you![2:00] Willingness to make tough decisions.[2:15] Those who streamline now will emerge stronger at the end of the pandemic.[2:30] Examples of "no-touch" property management processes.[3:25] Flip the switch to change when a new normal is emerging anyway.[3:47] Build a Start/Stop/Continue list to help gain clarity on things which need to change.Connect with Bob North County Property GroupResourcesStart/Stop/Continue TutorialThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

Five Minute Friday #25: Don't Be a Weenie

Our listeners have been eager to hear the latest updates on being a landlord during the COVID-19 pandemic. On this episode, Bob discusses this topic with Tracey Merrell, Managing Attorney of Education, at Kimball, Tirey & St.John (KTS), a law firm with a practice in California residential landlord/tenant law.Comments made for this broadcast are for general information purposes only and is not intended as legal advice. Participation in the podcast will not create an attorney-client relationship between the listener and Tracey Merrell or with Kimball Tirey and St. John. For advice with specific issues, please contact an attorney. Discussions of the new legislative updates are not exhaustive and are potentially fluid situations and the interpretation of the laws may change as they have been recently passed.Topics Covered[2:55] The episode is within the context of California landlord/tenant law.[3:55] Introduction to Tracey Merrell, her background, and position at KTS.[4:45] KTS risk management disclaimer.[6:10] Governor Gavin Newsome’s Executive orders N-28-20 and N-37-20 regarding moratorium  on evictions during the COVID-19 pandemic.[10:15] Stipulations for tenants seeking rent forbearance and eviction protection.[13:15] Can landlords negotiate with tenants claiming COVID-19 hardship on a rent repayment plan?[17:30] California Judicial Council adopted Emergency Rule 1.[21:08] California State Assembly Bill 1828.[24:10] Preventing price gouging during a California State of Emergency.[28:30] Tracey shares some great advice on how to treat people with respect and empathy.Connect with TraceyKimbell, Tirey, St. John LLPEmail:info@kts-law.comConnect with Bob North County Property GroupResourcesFree eBook: Bob Preston’s new eBook, Best Practices for Renting Your Home, is a free download, find it here as a free download! https://www.ncpropertygroup.com/ebookSponsorSeacoast Commerce Bank: Business banking for property managers, ensuring that your accounts are set up to meet compliance standards, so your company and clients’ funds are properly protected.  https://sccombank.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify,  TunedIn,  iHeart Radio and YouTube. 

Episode 37: Landlord/Tenant Law during COVID-19, Featuring Tracey Merrell of Kimball, Tirey & St. John LLP

On this episode of Five Minute Friday, Bob shares the story of key decision making at North County Property Group in adapting the company to telecommuting, new workflows, technology for virtual tours, self-showings, and more during the COVID-19 pandemic. Most of the changes were proactively made as early as March 13, 2020, six days before California Governor Gavin Newsom issued the first statewide stay-at-home orders in the country to establish consistency to slow the spread of COVID-19. It has now been seven weeks of shelter-in-place, in a fluid and unprecedented time, during which the company had its opportunity to “Be the Lighthouse”.Topics Covered[1:00] Bob describes the company's Friday staff meetings before the pandemic and previously using consensus in decision making.[1:30] How things quickly changed, requiring decisiveness to focus on the greater good for the safety and health of the company's stakeholders.[1:54] Bob explains what he means by "Be the Lighthouse".[2:50] The importance of staying ahead of the curve in response to the COVID-19 crisis.[3:50] What Bob communicated and expected from each of his staff members.[5:21] What Bob has learned over the past seven weeks.[5:35] Be the Lighthouse to help your team navigate back to solid ground.Connect with Bob North County Property GroupResourcesStaying Focused ChecklistThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube. 

Five Minute Friday #24: Be The Lighthouse

One of the most common water related incidents at rental properties is leaking or failing water heater. There has never been a time when hot water might be more essential, with all of us on stay-at-home orders, than during the COVID-19 pandemic. A failing water heater can sometimes be a big mess if there is leakage that requires further remediation. Other times, it can be a quick and easy fix but still a huge inconvenience to the homeowner or tenant who has to live without hot water for some period of time. Scott Costa represents a company that specialized in one thing ... water heaters. Hence the name of their business, Water Heaters Only. The ONLY service and install water heaters so they know a thing or two about the topic. On this episode, Bob and Scott discuss why water heaters fail, what are the signs to look for when a water heater needs to be replaced, what the options are for selecting a water heater, and the new California building codes related to water heater installation.Topics Covered[1:10] Bob offers listeners a copy of his eBook Best Practices fo Renting Your Home[3:20] Scott's background and intro to Water Heaters Only[4:45] Getting a water heater 24/7/365[6:30] Keeping hygienic and sanitization practices during COVID-19 pandemic[9:20] Why do water heaters fail?[11:10] Building codes in California and San Diego pertaining to water heaters[17:25] Why do water heaters cost so much more than they used to?[19:00] Circumstances which might favor installing a tankless water heater[26:05] The Emergency Shutdown Instruction Sticker on the front of the water heater[28:130] Signs that a water heater might be starting to fail [31:00] Recommended regular service and maintenance for water heaters [32:35] Potential danger of carbon monoxide emissions[34:30] Scott shares some great feel-good success storiesConnect with ScottWater Heaters Only(619)-816-2160Connect with Bob North County Property GroupEmail info@ncpropertygroup.com ResourcesFree eBook: Bob Preston’s new eBook, Best Practices for Renting Your Home, is offered as a free download on the North County Property Group website, find it here as a free download! https://www.ncpropertygroup.com/ebookSponsorSquare:  Have you heard of Square? I have been using them to run my business at North County Property Group and thought you would be interested too. You can do a lot with Square: accept credit cards, power your business with the free point-of-sale app, get real-time sales reports, and much more. $1,000 in credit card transactions are processed free when you sign up with this link, try it free today! Square promo linkThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Play Podcasts, Stitcher, Spotify and YouTube.

Episode 36: Hot Water is Essential During COVID-19 Pandemic, Featuring Scott Costa of Water Heaters Only

Property Management Brainstorm provides tips and advice to property managers, homeowners, and property investors about renting and managing their residential investment properties, tenants, and vendors. This podcast series is conducted in an interview discussion format by Bob Preston – president, owner and real estate broker of North County Property Group, a top ranked San Diego property management company. Bob interviews top professionals and experts in their respective fields related to the real estate and property management industry with the goal of providing insight and best practices to maximize your property value and income while maintaining top notch tenant relations.

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