Quality Property Management Company

   Fall Report 

Dear Valued Client,

       It is that time of year to bring some “housekeeping” items into focus.  Gutter cleaning season is upon us, for those whose houses have rain gutters.  As the leaves fall, after the first big freeze, we will again be cleaning gutters.  The “gutter cleaning season” lasts as long three months.     If you want us to clean your gutters, please contact us right away.  If we don’t hear from you, we will not clean them.   Some houses are on an automatic cleaning schedule.  For those on that list, there is no need to contact us.

Please send gutter communications, i.e. “yes or no” to guttercleaning@qpmcompany.com as soon as possible.   One story structures will cost $ 100.00,  2 story structures $ 150.00.

     The next “housekeeping” subject concerns owners doing their own maintenance.  Approximately half our clients do their own maintenance.  QPM gets charged for every tenant call by our answering service, plus the company has to pay our employees for fielding calls from the answering service; this has become expensive.   For those owners who do their own maintenance, we would like to give the your phone number to the tenant(s) for all maintenance emergencies and maintenance issues.  We have done this on some properties to everyone’s satisfaction.  We will be making our decision on this policy by the end of the year.  Your input is very important to us.   Please email me your thoughts at domyown@qpmcompany.com.  (This is a temporary email address, so please respond as quickly as you can on this important matter.)

     You might be interested to know some interesting information about our local real estate market.   Over all, QPM’s vacancy rate is hovering around 1.5% to 2%.   The local Landlord Association (SOROA) is about 5%.   There have been several hundred new apartment houses built this past year, which is keeping apartment rents from rising.  Nicer apartments currently are averaging $750 to $775.00.   Clearly,  the increased supply has reduced pressures for increasing rents.  As construction of houses increases, I expect the same affect on that market segment too.   For now, the rental market’s ability to increase rent has fallen flat across the board.   Commonly, we actually have to reduce rents to get them rented.  Jackson County unemployment as of September was 10.7%.  There are some great buys out there if you are interested.  Jackson County saw a 13% average appreciation factor in the past 12 months, ranking us the 5^th county in the nation.   Remember, we who own real estate, inflation is our friend!

     For those of you who have mortgages and would like to refinance, but think that to be impossible, please check out the HARP program.  It is a federal program to allow owners of “upside-down” non-owner occupied and owner occupied residential houses to refinance.  This program ends end of 2013. 

Happy Thanksgiving and Happy Holidays