All posts by jameskendrick

Kendrick Property Management

 

                      Kendrick Property Management

50 Kentwood Dr.

Rochester, NY 14626

585.880.4324 p

585.654.7633 f

www.kendrickpropertymanagement.com

November 7, 2013

Solutions for your Investment Property.  But don’t trust us…Well not yet anyway!

Are you a landlord with an investment property in Rochester, NY that has become unmanageable?  Are you in financial distress because of your mortgage?  We are a local property management company that can offer you a SOLUTION to your problem property.  We are unique!  We offer MANY solutions for your specific needs.

Keep your investment; change your Property Management Co.

With a real-time propertyware system and in-house maintenance, communication with our owners is unparalleled.  Approve work orders, view conversations from your management team, and receive detailed monthly statements.  With a 6 month rental guarantee and your first month of management FREE, LET US WORK FOR YOUR TRUST.

Just need to sell quickly?

Sometimes the best solution for a bad investment is to cut your losses.  At KPM, we understand that some landlords just need to stop the hemorrhaging!  Expensive repairs, high vacancy rates, and poor management can have a devastating effect on your investment.   We work with local wholesalers to move your property FAST.  With an extensive buyer’s list and over 25 years of experience, your property can quickly become a worthwhile investment for the next owner.

Let us negotiate with your lender.

In today’s Real Estate market, some investors find themselves ‘upside-down’ on their mortgage.  Let us work with your bank to find the best solution for you.  Short Sales, loan modification, or a deed in lieu; understand ALL of your options.

Ready for an investment that performs?

With proformas that estimate your ‘real world’ return on investment, and FREE property evaluations, you’re never left wondering if you’re making a wise purchase.  With high capitalization rates and special programs like Rent to Own, you can’t beat our investment advice!  Just listen to our investors… From property management, to buying and selling, Kendrick Property Management will be your BEST investment yet.

James Kendrick  was one of the first people I partnered with in my real estate investing company. He has the experience and the integrity and the network to accomplish anything he sets out to do. Great to work with, keeps projects on time and on budget. Looking forward to many more investments with James.”

~ Judi W.

Call today for YOUR property management solution, or visit our website for more information.

Kendrick Property Management

585.880.4324   www.kendrickpropertymanagement.com

The Things Property Managers Hate To Do

The Things Property Managers Hate To Do

Posted: 06 Nov 2013 09:10 AM PST

While most of us enjoy our job, and wouldn’t dream of trading it for another; there are some things that most property managers absolutely hate to do. While we love meeting new people and enjoy helping them find their perfect home, there are some things that go along with the job many of us hate doing.

Here is a list of some of those things along with some suggestions to help minimize the pain:

  1. Rejecting an Applicant – This is never easy, particularly when it needs to be done face to face. Unfortunately, rejecting applicants is a routine part of being a property manager. If the reason is something other than a credit issue – such as insufficient income or past evictions, tell them so. Be sure to provide them with copies of their credit report so they can see the results for themselves.
  2. Evicting a tenant – Another thing that most property managers are squeamish about; though many property managers find it much easier to evict the tenant selling drugs out of their apartment than evicting the couple who recently lost their job. Whether the reason is a lease violation, or criminal activity, be sure to document your case with warning notices and give tenants the chance to correct the problem. Many times, tenants late on the rent are simply waiting for a check to come in. If you can give them a little extra time, you may find yourself with a great tenant for the long term.
  3. Dealing with criminal activity – One of our main responsibilities as property managers is to our tenants. Happily, most tenants are terrific people who pay their rent on time, go to work each day, and maintain their unit properly. In most cases they are not engaged in illegal activity. That’s why it’s imperative that any criminal activity be eliminated immediately, and those engaging in the activity dealt with properly, no exceptions. If not, you’re putting your entire tenant population at risk, which will not be forgotten at renewal time.
  4. Raising Rent – This is another reality that property managers must deal with. It’s never pleasant to impose a rental increase on your tenant, although most will understand the need for a slight increase.  Offering existing tenants a bonus such as a gift card for renewing with a rent increase can help soften the blow of a rent increase while conveying to them that they’re valued.

While you’ll likely never enjoy any of the above tasks, handling them promptly and professionally will make them a little easier to complete.

Kendrick Property Services

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Team Kendrick is a trusted name in Rochester, NY

They have been rehabbing and renovating properties for investors for years. When people recommend them three words are always included  Reliable, Honest, Integrity.  So it goes with out saying that you can expect the same from the new branch they have added,   Kendrick Property Management

 

Before

Tax lein purchase hoarder house

After

OLYMPUS DIGITAL CAMERA

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Find out what Team Kendrick can do for your Investment Properties

Home Prices On The Rise

Home Prices On The Rise

Home Prices On The Rise

Posted on 30. Oct, 2013 by  in News

According to the S&P/Case–Shiller home price index U.S. single-family home prices rose in August and posted their strongest annual gain since February 2006. Prices were up 12.8 percent compared to last year and exceeded economists’ expectations of 12.5 percent. Despite higher mortgage rates in recent months the report suggests that the housing market continues to recover.

“It’s good to see the pace of home value appreciation moderate, allowing the market to get back into a more sustainable balance and not topple over,” said Stan Humphries, chief economist of home price tracker Zillow.com. “Home value appreciation is better when it’s boring, and we expect to see continued moderation.”

Read More: http://money.cnn.com/2013/10/29/news/economy/home-prices/index.html

FREE Management

WELCOME.
TO YOUR PROPERTY MANAGEMENT SOLUTION.

Don’t Trust Us!  Well not yet, anyway…
Unlike other Property Management Companies, we earn your trust first, then get paid.

Enjoy NO MANAGEMENT FEES for the first month while we prove ourselves.
NO LONG TERM CONTRACT.
If we’re not performing up to your standards we’re gone…
We believe your property should be an income producing asset for YOU not just your management company.
We’ve combined our knowledge of construction and investment properties with a comprehensive software system to offer our clients a full service solution for your investments.
But there’s no need to take our word for it.
Take YOUR word for it.
The same trust and integrity you’ve grown accustom to from Team Kendrick, now managing your investment from A to Z.
OUR LATEST REHAB
Yields 45% Rent Increase, Better Tenants.
Part of protecting your investment is getting good advice.  We will always have your best interest at heart whether placing tenants, completing a rehab, or preforming regular inspections.
Check out the latest Before and After Video…

Investment Property
HOW WE DO IT…

Click HERE for an overview of how we pull it all together for our investors.  We think you’ll agree, the benefits are clear.  Contact us TODAY to start your FREE month of exceptional management.

 

Contact Us Today for more information

or visit our website

Kendrickpropertymanagement.com

 

 
WHY ROCHESTER?
CNN Money ranks Rochester, NY #3 on their “Best Places to be a Landlord” list.

See it by the numbers HERE!  Criteria such as median home price, average rent and monthly up-keep make Rochester, NY a solid investment year after year.

 

If you are an investor looking to build your Real Estate portfolio, look no further than Rochester, NY and Kendrick Property Management.

ASK ABOUT OUR
FREE
HOME ASSESSMENT
 585.880.4324

 

Not only were the ideas perfect for this property and the referred businesses great, but the work was completed on time and within the estimate that Jim presented …” 

                                  see more

  50 Kentwood Dr.
  Rochester, NY 14626   585.880.4324 p
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Keeping Your Tenants

Keeping Your Tenants To Produce More Profits

Posted: 21 Oct 2013 10:45 AM PDT

In the real estate game, when we are talking rental properties, one of the most important things that will help you earn more money is long term tenants. The longer the tenant stays, the lower the number of unit turnovers you will have. Turnovers cost money! So as owners, we should do everything possible to keep our tenants – and yes, occasionally there is a bad one we might unfortunately have to “fire” and let vacate! So, let’s talk about a few ways to help the cause!

First, when a unit turns over, even if you have a new tenant whose lease starts the next day, it still costs lots of money. If you manage the rental yourself, you have to advertise, take calls, show the property, write up a lease, get it signed, collect a security deposit, deposit it in the bank, etc. This all takes significant time and energy – and time is money! Alternatively, if you have an outside party do it, it’s usually one-half to one full month of rent you need to pay as a commission.

In addition to the leasing process, you need to inspect the property before the prior tenant leaves, schedule the unit and carpets to be cleaned, have your handyman go in and paint, patch, repair, etc. and you must finalize the old tenant’s lease and security deposit. Then you’ve got to do a move in with the new tenant, document the condition, exchange repair requests from them, coordinate utilities changeovers, etc. What a pain!

All in all, you’re probably going to spend several days of your time handling all these issues, probably a whole week of time or more once all is said and done.

Wouldn’t it have been easier to just keep your existing tenant in place?

Most apartment building surveys find that the main reason people leave their existing rentals is because of poor management. So that’s not being attentive to their issues, not fixing stuff that breaks, blaming the tenant for broken items, etc. So tenants get frustrated and find a better place to live.

Therefore, to keep your tenants as long as possible, which also reduces your hassle factor on rentals, you need to treat your residents with respect. And, keep your properties updated and in good shape, repair items when they break and don’t point the finger at your tenants, handle issues professionally, and don’t let them even consider leaving! To further your devotion and appreciation of them, you might also consider minimal, if any, rent increases for great tenants who are responsible, take care of your property, and work with you if there are issues.

The longer your tenant stays, the more money you earn, there couldn’t be any more simple math than that! The better you are as a landlord, the longer residents will stay and keep those rental checks arriving on time. Good luck.

Leonard Baron is America’s Real Estate Professor – his unbiased, neutral and inexpensive “Real Estate Ownership, Investment and Due Diligence 101” textbook teaches real estate buyers how to make smart and safe purchase decisions. He is a San Diego State University Lecturer, blogs at Zillow.com, and loves kicking the tires of a good piece of dirt! More at ProfessorBaron.com.

Newsletter

WELCOME.
TO YOUR PROPERTY MANAGEMENT SOLUTION.

You asked. We listened.
After doing your property inspections, rehabs, and remodeling for the last 30 years, Team Kendrick is proud to announce the opening of our
We’ve combined our knowledge of construction and investment properties with a comprehensive software system to offer our clients a full service solution for your investments.
The same trust and integrity you’ve grown accustom to from Team Kendrick, now managing your investment from A to Z.
HOW WE DO IT

Here’s a brief overview of how we pull it all together for our investors.  We think you’ll agree, the benefits are clear.

 

Initial Inspection:  Let us inspect the property before you make the purchase. We’ll give you a report about the neighborhood, rents to expect, and the overall condition of the property. If it seems too good to be true, we’ll tell you!  We want your investment experience to be a positive one. Buying properties in bad areas that need major rehab is never a good experience…   Marketing:  Right from the start our web-based propertyware system is working for you.  Vacancies are filled fast and efficiently using over 100 rentals sites simultaneously. Through online applications, background checks, and YouTube videos of your units, the leasing process is expedited.   Increased Resident Retention:  If your tenants aren’t happy, they’re not going to stay…With our on-line tenant portals, they can communicate faster about maintenance concerns, pay their rent, and receive mass updates from the management team. Happy tenants are happy to pay their rent!   Faster maintenance:  Our in-house maintenance crew is notified electronically when a work order enters the system. They have the tenant’s information, along with a full description of the items to be completed. They can tackle the problem quickly since the owner was already notified and approved the work to be done.   Electronic Statements and Payments:  With a few key strokes, your statements are delivered for month-end reporting and payments are delivered directly to your bank account. And because the system keeps you informed when work orders need to be addressed throughout the month, there are no surprise fees.   Contact Us Today for more information or visit our website Kendrickpropertymanagement.com

 
LATEST REHAB
Yields 45% Rent Increase, Better Tenants.
From acquisition and inspection of your investment, to a cash flowing unit with a qualified tenant, we stand behind the term ‘management’.
You can count on Team Kendrick to assess a new purchase AND improve it’s rent potential.  Good locations and quality rehabs bring HIGH paying tenants.  Check out our latest rehab with a 45% rent increase and a happy new tenant…
45% Rent Increase After Rehab

ASK ABOUT OUR
FREE
HOME ASSESSMENT
 
585.880.4324

    “ Not only were the ideas perfect for this property and the referred businesses great, but the work was completed on time and within the estimate that Jim presented …”                                    see more
  50 Kentwood Dr.
  Rochester, NY 14626   585.880.4324 p
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Like us on Facebook

Negative Cash Flow

Negative Cash Flow Got You Down

Are you tied of receiving monthly reports with negative cash flow from your Property Management Company?

  1. Maybe they are part of the problem.
  2. Do they just sit back and deduct their fees from your rental income?
  3. Are they proactive with helping you turn your portfolio around or are they happy to sit back and receive checks from section 8 and DSS?
  4. Are you constantly getting negative reports for C of O or city inspections?

If this sounds like you, Maybe you should give Kendrick Property Management a call.

Kendrick Property Management has evolved from Team Kendrick, we are general contractors, rehabbers, and Real Estate Investors ourselves.

We work with our clients to determine what is the best direction to pursue for them to achieve their investment goals.

  1. We will evaluate their portfolio to see what course of action to take to turn their negative cash flow properties into positive cash flow. If liquidating them is the answer then we can help them move them off their books thru are rent to own network. In most cases they can receive positive cash flow while eliminating the overhead. With out selling them at wholesale prices for a big loss.
  2. If updating the properties and placing new tenants in them is the answer then we can put our rehab team to work getting them ready for re-rental.
  3. Once all the negative problems have been solved we will help our clients start building a higher quality portfolio.
  4. Since we buy and sell properties ourselves we have wholesalers sending us properties to look at on a daily basis. We check them out and then give the information to our clients that are looking for more properties.

 

If you are just getting started in rental investments contact Kendrick Property Management and let us help you get started on the right path to profitable rental investing.