Sun Rock

It’s Not You. It’s Not Your Home. It’s Your Realtor.

Sun Rock Properties — Sat, 21 Aug 2010 01:48:52 +0000

See this pile of cash? It doesn’t belong to you and you know why? Your realtor is being unrealistic and greedy about your property.

We have a client who is interested in a townhome in a particular area. We have one in this neighborhood and know without a doubt the competition is over-priced. Rentals sit 6-months, 8-months, 1-year or longer vacant. Why? Your rental is over-priced. Period.

I called a realtor to ask about a rental that has been listed and vacant for 6 months to see if the owner was flexible in the price. I told her that I had a great client interested in the home, but wanted to pay a more reasonable rent for the unit. With disgust I was told that the building covered all utilities which was included in the rent. I told her I knew that was not true because we have the exact same property in the neighborhood. Well not the same. Our is updated and upgraded. She then back-peddled and said well the owner wants to rent it furnished only. On the MLS listing, it states “furnished, but will consider unfurnished.” So the ad was misleading or the realtor was a liar.

I asked again about the price. I stated about the home being listed for 6 months and sitting vacant. Is the owner flexible? Again, I was given the run-around. Never once did she say she would present an offer to the owner.

Can this realtor read minds? I can’t. As property managers, we present all offers to owners. Ultimately the decision lies with you, the owner. You should decide whether to reject or accept an offer. Not a realtor.

I believe putting the owner in the driver-seat is what gives us so many happy clients and great reviews.

I never asked what the commission would be on the property. I never wanted a commission. I wanted to find a home that met my client’s needs.

Did this realtor ever stop and think, “my client has been losing thousands of dollars because his home is sitting vacant?” No. She heard reduced price, saw her commission drop and never consulted the owner. Would the owner accept a lower offer? We will never know because he will never be asked.

My client never saw the property or put an offer in. Why? A realtor discouraged an amazing tenant from a property that needed a renter.

So, this pile of cash continues to sit untouched.

For honest, reliable property management in Pinellas, Hillsborough, Manatee and Sarasota counties and Orange Park, Florida, We Manage Your Investment.

House For Rent Scam

Sun Rock Properties — Sat, 07 Aug 2010 00:43:00 +0000

A prospective tenant called us and said the property we had listed for $1300 per month on Craigslist was also listed on another ad for $900 per month. Huh? Another ad? Nobody at our company would have listed it at that rate.

So we searched Craigslist and saw another listing with the same pictures and description for $900 a month, it said to contact ‘David Ball’. Of course you can’t call him, but when you email him you get an automatic reply that says he is away in South Africa, decided not to use a realtor and is just looking for a good person to rent the property.

He tells you to go by and look at the property but of course you can’t get in. Then if you like it you are supposed to Western Union some money over to him, wherever he is.

As soon as you send your money, its gone, no house, no nothing.

We flagged the fake ads on Craigslist and they were taken down. We did speak with police, but it is not likely anything can be done. The people posting those ads could be anywhere in the world.

A similar scam on owners is prospective tenants who reply to ads and say they want to rent a property. They are usually some type of foreign exchange student. Their ‘sponsors’ send you a fake cashier’s check for more then what is owed. You are then supposed to wire the difference to their decorator. A week later, the cashiers check has bounced and you are out the money you wired.

So now, when we have ads running, we will monitor and flag fake ads.

Tenants should be aware of these fraudulent ads and never send any money unless you have met with an agent and viewed the inside of the property.

For Honest, Reliable property management you can count on, contact Sun Rock Property Management.

Rental Property Video Marketing

Sun Rock Properties — Wed, 04 Aug 2010 00:34:00 +0000

Vacancies will kill your cashflow. Having your property vacant just one month can wipe out all of your profits from the year. It is better to secure a tenant for $50 less than what you are asking than to have your property sit vacant for a month. Being real estate investors ourselves, we adopted the philosophy of ‘keep it rented.’

So when we have a property coming available, we do everything we can think of to get it rented fast.

Our biggest successes have come from marketing our properties online. This not only gives us a lot of great targeted leads, it doesn’t cost our owners a dime.

Video is becoming more popular on the web. Videos are also being factored into rankings on search engines like Google, Yahoo and Bing.

If you list a video with the area + for rent in the title, then your video link will show up in property searches for that area.

The actual ad, looks a lot better and gives the prospective tenant a better experience in shopping for a home to rent.

The advertising costs to our owners is still zero, but we now create great looking video advertisements for their properties. They are posted on the Sun Rock Property Management channel of YouTube.

Going forward, videos will become more and more important in finding and securing good tenants. Sun Rock will continue to utilize technology to make your property stand out from the rest and eliminate vacancy.

In Pinellas, Hillsborough, Manatee and Sarasota counties, Florida, We Manage Your Investment.

Orange Park Property Management

Sun Rock Properties — Sat, 31 Jul 2010 21:34:14 +0000

Sun Rock Property Management is now offering full-service residential property management in Orange Park, Florida, including Fleming Island.

We provide honest, reliable property management. We give our best to each and every client. Sun Rock Property Management will efficiently manage your condo, townhome or single family home.

A beautiful suburb of Jacksonville, Orange Park offers the amenities of city life and the comfort of a small town. At Sun Rock Property Management we will secure desirable tenants for you. We know how to increase your cashflow on your investment.

At Sun Rock Property Management, We Mange Your Investment.

For quality property management in Orange Park, Florida, contact Sun Rock Property Management.

Treasure Island Property Management

Sun Rock Properties — Mon, 19 Jul 2010 11:20:47 +0000

Sun Rock Property Management is now offering full-service residential and community property management throughout Pinellas County, Florida, including Treasure Island, Sunset Beach, St Pete Beach, Madeira Beach and Redington Beach.

We are a focused, efficient property management company that pledges a personal commitment to our clients. We manage any type of property from condos and single family homes to condominium and homeowner’s associations.

The area’s gorgeous sunsets and beautiful beaches attract people from all over the world. We can find good tenants for you any time of the year and increase the cashflow on your investment. Whether you are looking to have your property rented out for the night or for the year, we will handle everything, with zero advertising costs.

For quality property management in Pinellas County, Florida, contact Sun Rock Property Management.

So I was talking to this realtor…

Sun Rock Properties — Sun, 30 May 2010 14:52:00 +0000

about a property her client was interested in renting. She asked me what the comission was for leasing the property. I asked her what she meant and she was direct in saying, ‘how much do I get paid when my client signs a lease?’

I continued the questioning because I thought it would be interesting to hear the greed drip through the phone. She said usually the comission is ‘one half of first month’s rent’. Since we charge less for our own leasing fee, I had to tell her we do not have a commission to offer. That was the last I heard from her.

Now I don’t expect people to work for free, but some questions came to mind. What if this property was the absolute perfect one for her client? How much would that be worth? If a realtor located a property for a client, it was the ideal place, the client loved it and it improved the client’s life, wouldn’t they rave to all of their friends and family about the realtor?

The realtor might have received 10 referrals from that one prospect and maybe 10 more from each of the new referrals. Maybe 100 commissions were thrown away in a chase to get paid, rather than putting the client first.

At Sun Rock, we give before we get. The purpose of this blog is to give quality information to real estate investors. By doing this we have earned well-educated and informed clients for life. This is the difference between chasing a paycheck every month and building a successful business.

Not saying all realtors act like this, but anyone who does, Sun Rock Property Management does not want to do business with.

For quality property management in Lakewood Ranch, Florida, contact Sun Rock Property Management now.

What Happens in Florida, Will Happen Everywhere Else

Sun Rock Properties — Sat, 24 Apr 2010 15:44:35 +0000

Want to know what will happen in the U.S. Real Estate Market? Watch Florida.

Jim Cramer says Florida is the template for where the US housing market is headed.

Florida real estate lead the way during the boom and the bust, and will lead the way in a recovery. Look to Florida to find out what will happen next.

For pre-purchase investment consulting and expert property management, contact Sun Rock Property Management. We manage your investment in Bradenton, Sarasota and Lakewood Ranch, Florida.

Is Your Property Manager a Realtor?

Sun Rock Properties — Fri, 09 Apr 2010 22:10:00 +0000

Most property management companies are run by Realtors. They can manage your property, or sell it, or whatever. Too bad for you the Realtor can make a lot more money in a lot less time if they throw your property on the MLS, have a buyer come along, and get a 4% commission instead of managing it.

The mindset of a realtor is not the same as a real estate investor. Realtors are salespeople, helping people buy and sell their homes regardless of capital gain or loss. Investors are seeking high returns on their money, generating cashflow and building wealth. During the boom and bust of the mid 2000’s, many realtors got burned thinking they were investors just because they were in the real estate business.

Usually a Realtor will get into the property management business, thinking it is easy and will generate a little extra income. The result is a domination of Real Estate Agencies, who also do property management. Would you hire an electrician who does a little plumbing on the side to fix your sink? No, you would hire a plumber.

The lack of focus and priority among these companies makes finding a good property management company hard. Sun Rock Property Management was developed by real estate investors to offer an alternative to the realtor/property management companies.

Property Management is all we do.

For focused, efficient management with a personal commitment to you, contact Sun Rock Property Management.

If Mortgage Rates went up….

Sun Rock Properties — Fri, 02 Apr 2010 22:38:00 +0000

If mortgage rates went up, the dollar would be worth more. Money would be more expensive to borrow, therefore more scarce and valuable. You would have more purchasing power with the money you already have and earn a higher return on savings. Banks would have more money to lend, because they could entice customers with high CD, IRA and savings rates. The higher rates would curb inflation, causing the price of everything to go down, including real estate.

Higher mortgage rates will further depreciate America’s housing market. If you are selling a home for $100k and the average mortgage rate is 5%, the buyer’s payment on a 30 year fixed mortgage is $536 per month. If the mortgage rate went up to 8%, how much of an offer could the buyer make and still keep their monthly payment at $536?

Answer: $73k. Buyers in the market for your property can now only offer 73% of the price when rates were 3% lower. Your home just depreciated 27%.

Are we at the bottom? Not even close.

On April 1st Federal Reserve is not continuing its investment, which means that mortgage rates are about to increase. Experts believe home prices will drop 5 to 10 percent. – realestate.com

Rates have been kept artificially low for the past 9 years, creating a boom and then propping up a bust.

Perhaps rates should really be at 15-20% to make up for all the money that has been printed and spent.

Either rates will stay low and the whole thing will go into a death spiral or at some point market forces will push rates up. When that happens, expect your home to be worth less, and maybe the market bottom will be in sight.

For professional property management in Lakewood Ranch, FL, contact Sun Rock Property Management

Get Out of Contract with Property Manager

Sun Rock Properties — Tue, 30 Mar 2010 21:58:00 +0000

As real estate investors ourselves, we know what it feels like to be trapped in a contract with a bad property management company.

The contracts can be confusing, many automatically renew, so it is not clear when they expire. Almost all have penalties and advance fees taken out for early termination.

Not knowing what to do, I hung on to a bad property management company for a long time. Bad property managers cost you a lot of money. When enough was enough, I called to cancel.

They informed me of the penalties and advance fees they were going to collect. They weren’t doing the work they were supposed to, now I have to pay them for work they are not even going to do.

I decided then Sun Rock Property Management would not put clients in these positions.

We feel we have the best rates and the best quality and do not need to tie people down with contracts. If you are no longer satisfied with our service, you are free to go. We are too busy to work with owners who do not want to work with us.

Each of our contracts has a clause in it stating,

‘The owner or Sun Rock Property Management can void the contract at anytime, for any reason, without penalty.’

Would your property management company do this for you?

For the best property management in Lakewood Ranch, Florida contact Sun Rock Property Management.