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] Introducti...
Jun 25, 2020•40 min•Transcript available on Metacast 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 management 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 to rethink its philanthropic pledging as part of their corporate responsib...
Jun 19, 2020•5 min•Transcript available on Metacast 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 man...
Jun 12, 2020•5 min•Transcript available on Metacast 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. For advice with specific issues, please contact an attorney. Legislative updates dis...
Jun 11, 2020•48 min•Transcript available on Metacast 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 be...
Jun 05, 2020•6 min•Transcript available on Metacast 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 man...
May 29, 2020•3 min•Transcript available on Metacast 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 P...
May 28, 2020•41 min•Transcript available on Metacast 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) N...
May 15, 2020•6 min•Transcript available on Metacast 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. Top...
May 14, 2020•45 min•Transcript available on Metacast Last week on FMF Bob 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. On this week's FMF, he pleads 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...
May 08, 2020•5 min•Transcript available on Metacast 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 relations...
May 07, 2020•35 min•Transcript available on Metacast 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 ...
May 01, 2020•6 min•Transcript available on Metacast 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 is 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 Only know a thing or two about the topic...
Apr 30, 2020•39 min•Transcript available on Metacast Property Management Brainstorm had temporarily paused producing the show, taking a brief hiatus, during the peak of the COVID-19 pandemic. There is so much to catch up on and we are pleased to let you know we are back in production! On this episode, Bob explains the reasons for taking a break with the podcast and what changes his team has made in the meantime during the COVID-19 pandemic to stay focused on managing their properties while keeping their staff and tenants safe and healthy. Topics C...
Apr 24, 2020•10 min•Transcript available on Metacast We’re all feeling uncertainty around the mounting COVID-19 health crisis. And what serves as a best practice today may change tomorrow. On this episode, Bob shares his decision to temporarily suspend production of Property Management Brainstorm in light of the Coronavirus pandemic. He discusses the daily changes in processes and mindset adjustments required of landlords and property managers during this unprecedented time. Bob goes on to explain the possibility that he will do an occasional chec...
Mar 26, 2020•3 min•Transcript available on Metacast The Coronavirus pandemic is on everyone’s mind right now. So, what can we do as landlords to protect the health and safety of our staff, property owners, tenants and vendors? On this episode of Five Minute Friday, Bob explains how the North County Property Group team is staying on top of our job responsibilities through a remote work setup and what you can do to reach us if need be. He discusses the precautions NCPG is taking when it comes to fulfilling maintenance requests and performing inspec...
Mar 20, 2020•6 min•Transcript available on Metacast If you’re an individual, self-managing landlord or you manage a small portfolio of rentals, what is your best option when it comes to property management software? Dave Spooner is the Cofounder of Innago , a free property management software platform designed to help small, independent landlords manage their rentals. Today, Dave joins Bob to explain what differentiates Innago from other platforms in terms of being intuitive and easy to use, yet flexible enough to allow for growth. Dave discusses...
Mar 19, 2020•34 min•Transcript available on Metacast If you enlist the help of a property management company to manage your rental, you may be curious how rent is collected from the tenant and then forwarded to your bank account. On this episode of Five Minute Friday, Bob walks us through North County Property Group’s best practices around the flow of funds in a rental property. He explains when rent is due and where it’s deposited, discussing how NCPG tracks incoming rent payments and why his team offers tenants a five-day grace period. Bob goes ...
Mar 13, 2020•6 min•Transcript available on Metacast Placing a new tenant in a rental property seems simple enough. But the fact is, there are A LOT of moving parts at play from the time a property is listed until the tenant moves in and starts paying rent. So, what does the tenant placement process look like? On this episode of Five Minute Friday, Bob walks us through North County Property Group’s proven tenant placement process. He discusses the importance of creating an effective marketing plan and property listing for each rental and explains ...
Mar 06, 2020•6 min•Transcript available on Metacast What could you accomplish if you never had to take another maintenance call? Ethan Lieber is the CEO of Latchel , a real estate platform that helps property managers streamline their maintenance workflow. Today, Ethan joins Bob to explain how Latchel leverages the Amazon model of crafting measurable, transparent Service Level Agreements (SLAs) to ensure customer satisfaction and discuss the common themes across SLAs for tenants, property owners and service providers. Ethan walks us through the m...
Mar 05, 2020•34 min•Transcript available on Metacast Are you struggling to find a property manager you can trust? Perhaps the best way to find a reliable team that provides top-notch service is to look for a property management company that provides its clients with certain guarantees. On this episode of Five Minute Friday, Bob walks us through the guarantees North County Property Group offers all its clients, including a Satisfaction, Pet and Performance Guarantee, explaining why his team doesn’t take any money from property owners until a tenant...
Feb 28, 2020•6 min•Transcript available on Metacast The security deposit disposition, if not documented properly, has the potential to be highly contentious. So, what can we do to make the process run smoothly? And who, exactly, is responsible for performing the move-in/move-out inspections, itemizing necessary deductions, and returning the tenant’s remaining funds? On this episode of Five Minute Friday, Bob discusses who facilitates the security deposit disposition process, explaining why North County Property Group takes responsibility for iden...
Feb 21, 2020•5 min•Transcript available on Metacast Being a landlord may sound simple, but there is more to it than just running an ad, getting a great tenant and collecting a monthly check. So, what are the financial, legal and ethical obligations around managing a rental property? And how can you avoid the most common mistakes landlords make? Today on Property Management Brainstorm, Bob is flying solo to walk us through the top ten mistakes made by landlords. He explains why it’s crucial to view your rental property as a business, understand th...
Feb 20, 2020•19 min•Transcript available on Metacast The prevailing attitude among real estate investors is that all property management companies are much the same, so potential clients often ask, “What makes North County Property Group different?” or, “Why should we hire you?” On this episode of Five Minute Friday, Bob discusses some of NCPG’s differentiators, including their expertise in the high-end rental market and dedication to thorough tenant screening. He explains the team’s commitment to a set of guiding principles and ethics, sharing th...
Feb 14, 2020•5 min•Transcript available on Metacast At North County Property Group, about 25% of our portfolio are furnished short-term rental (STR) units. Clients with vacation homes in the San Diego area enjoy the cashflow that comes from renting out their furnished property when they aren’t using it, but we encourage owners to think carefully about what personal belongings to remove from the unit when guests are using the space. On this episode of Five Minute Friday, Bob offers an overview of how short-term rentals work, explaining how the pro...
Feb 07, 2020•5 min•Transcript available on Metacast It’s easy for business owners to get caught up in the day-to-day and forget the visionary aspect of their job as leaders. But how do you build in time to work ON, not IN your business? Terry Ogburn is the founder of Ogburn’s Business Solutions , a consultancy that helps small businesses improve the bottom line. Today, he joins Bob to explain how he supports business owners in developing a vision for the future and designing a plan to reach their goals. Terry offers advice on taking time to refle...
Feb 06, 2020•29 min•Transcript available on Metacast What happens if a tenant stops paying rent? The headache of dealing with a renter who defaults on their lease agreement keeps some investors out of the real estate rental market altogether. So, what can property owners do to manage the risk of tenant default? On this edition of Five Minute Friday, Bob explains what happens when a tenant defaults on their lease agreement and how a professional property manager can help property owners navigate the process. He walks us through some common scenario...
Jan 31, 2020•6 min•Transcript available on Metacast Most real estate investors don’t realize that they can sell a property even when it is occupied by a tenant. In the state of California, this is known as selling with Tenants in Possession, or TIP. On this edition of Five Minute Friday, Bob shares North County Property Group’s expertise in TIP, explaining how to keep tenants and buyers informed throughout the process and document the tenant’s right to possession via the Tenant Estoppel Certificate. Bob discusses the mistakes uninformed listing a...
Jan 24, 2020•4 min•Transcript available on Metacast 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 Bob 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...
Jan 23, 2020•36 min•Transcript available on Metacast Most business owners and entrepreneurs want to build a best-in-class company. But in the daily grind of running a business, it’s easy to lose sight of the vision you’re trying to achieve. At North County Property Group, we leverage the Entrepreneurial Operating System (EOS) to facilitate continuous improvement and become a better organization—each and every day. On this edition of Five Minute Friday, Bob shares the EOS model many business owners and entrepreneurs use to grow and improve. He expl...
Jan 17, 2020•5 min•Transcript available on Metacast 
