Managing Home Maintenance Costs

Property management maintenance is so important for owners as well as renters and most of the time neither is completely happy. It is never good enough. Owners feel that the maintenance costs too much. That renters are damaging their property. They just do not care enough to take good care of the building they live in.  It is a fine line. At the end of the day, there must be enough money to pay for everything and still make a profit for the owner without totally gauging the tenant.

Property Manager Caught in Between

Caught in between is the property manager. They must work to find a balance between both parties without spending more money than what they need to. Sometimes he or she will assess the tenant for obvious damages. Sometimes they will delay minor repairs to group several together. They can save money by only having one service call. And sometimes they will delay major maintenance by using temporary measures. But the property manager ultimately works for the owner and is the owners representative on the property. It is the property managers responsibility to implement the policies and guidelines of the owner. At all times they must use their best judgement in many different situations.

Making matters worse is the government. Which regulates how quickly you can raise rental rates to pay for increasing taxes, interest rates and property management maintenance. These all go up almost every year. Building a budget that factors in these increases. The rent increases sometimes will help property managers and the owners keep a building looking great for many years. In fact budgeting for repairs and building up a fund to handle emergencies and major repairs is just sound business practice.

Property Management Maintenance – Budgeting

Rental properties are some of the most difficult buildings to manage from a maintenance perspective for many of the reasons mentioned above. In addiction, for rental buildings there usually must be two separate and distinct budgets.

Set up a budget to manage all tenant related expenses associated with the units that are being rented.  This would include any repainting, carpet cleaning and repairs after a tenant moves out. If the repairs are normal wear and tear, then the owner must absorb these costs out of the general revenue for the property. Appliances only last so long. Carpets need to be replaced. Damages must be repaired for and paid. Usually prior to collecting anything from the tenant. This all must be accounted for and included in a budget. They must pay for them prior to collecting from the tenant.

Another Budget

Set up a second budget for the building itself. This would include all common expenses. It may also include cleaning, window washing, common lighting, snow removal, garbage removal, repairs to the roof or windows and so on. Some of these expenses are operational in nature in that they occur on a regular basis weekly or monthly. A roof replacement is a good example. In addition, ideally money should be set aside every year to handle all major repairs such as this. In some locations, budgeting for these expenses is in fact part of the bylaws of the building.

There is a lot of responsibility for property managers. They are accountable for everything that goes on at the building they are managing. Hire an excellent property manager who has experience. They should have a good relationship with all parties will make a huge difference with everyone.

For a lot more posts about property management topics, click here.

Would you ride around on a Yike Bike? The picture on the left an electric bike. It does not look really that comfortable to sit on. Never the less it could be useful for traveling around the city. When you are finished using it or get to where you want to go, it folds into a small space easy for carrying and storing.

In our research we did not come across the weight of the Yike Bike. So we do not know just how heavy this is to carry around. You certainly would not want to have to carry it very far if you are out shopping or going to work. I think they should find something that is more comfortable to ride on as well. We have listed the specs below for the Yike Bike. In addition comments we found from several people to give you a perspective on what people think about the bike. These are people who have actually tried it. If you have comments on the Yike Bike from personal experience, we would love to hear about it. Let us know if you think this will be something that will catch on!

The Technical Specs for the Yike Bike

The specs for this bike at the time of writing this post were as follows:

• 10 km range for the battery, extra batteries can take you further
• Battery recharge in 50 minutes with optional fast charger
• Top speed is 23 km/hour
• Electric brushless DC motor
• Brakes are electric, anti skid and regenerative
• Power is 450 watts
• Wheel size is 20 inch font and 8 inch back
• Hi visibility built in LED
• Folds to a compact 43 liters in size
• Fold time can be done in 15 to 20 seconds

We actually saw this bike on a program called storage wars where one of the buyers found a Yike bike in a storage locker that he bought. When he had it evaluated, the value was estimated to be approximately $4000, which seemed pretty high. A quick search on the web found prices to range from $2500 to $3500 depending on the bike and the accessories that were purchased with it.

Feedback from Users

On the company’s web site there were glowing reports from users who absolutely love their bikes and find them easy to use and to be perfect for getting around town including folding them down and going on public transit systems. Regular bikes are pretty difficult to use and  travel on public transit systems. Other reviews mentioned that there is no kick stand so you have to basically lay the machine down when it is not being used or lean it against something when not in use. Also there was no mention of how easy or difficult it is to clock this bike to something. They would be easy to walk away with and you really need to make sure that you lock them up adequately.

Learning to ride is a bit difficult since you are essentially sitting on a seat that is located on the handlebars. Balancing takes a bit of getting used to. Users report that it might take 30 minutes to get used to the idea of riding on a yike bike. The maximum speed one user was able to get to was 13.5 km’s and not the full speed of 15 km’s.

Not That Comfortable

Like a regular bike there is no cushioning when you go over bumps etc. In fact with smaller wheels you may even feel the bumps even more so. You will need to carry the charger with you or purchase a second one to keep at another location if you use it for commuting.

All in all it is a neat piece of technology and will appeal to a specific set of people and application. We are not sure that it will catch on as a means of transportation. Perhaps more in Europe where bikes in general are more accepted particularly as a commuter vehicle but not so much in North America where the car is still king. If you have one let us know what you think.

For many more posts about electric vehicles including home charging stations, click here.

There are literally thousands of text messaging business opportunities available and many companies have got on the bandwagon. Services such as sending weather alerts, flight status updates, sports scores or even stock alerts have all been offered by many third party companies. We are using the term third party here to differentiate between the carrier who carries the message and the company who originates the message. These companies are all struggling to compete with free sms or text messaging over the internet. everything seems to be free online, however at some point these services must generate a positive cash flow business model and this is what the old style text messaging companies still have.

Text Messaging Business – Subscription

When a consumer subscribes to a text messaging business advertisement, they often do not realize the cost of these subscriptions. In some cases the cost of the subscriptions can be as high as $40 a month. The carrier will receive upwards of 60% of the fee and the business originating the message will receive the remainder.

Text messaging for businesses is a very lucrative opportunity, however we fear that the real money is going to the phone company and that the company using text messaging to get to their customers is not gaining that much.

The carrier delivers the message and does all of the billing and collection for the service. After taking their share they transfer the remainder to the 3^rd party company. Many consumers are appalled at the cost of this level of premium text messaging and question their bills at the end of each month.

Long Term Business Strategy

This is really not a good long term business strategy for small business to send premium messages in this manner. Customers simply have too many other free alternatives. If you are not paying attention to your bills and reviewing them in detail, you may end up with a high bill each month, much higher than you need to be paying.

Who is to blame for these high costs? The carrier is certainly getting the lion’s share of the revenue. They also do the lion’s share of the work to deliver the message and to collect the revenue. Does this make them any more responsible or not.

The competition bureau certainly thinks so has taken several of the carriers to court over the issue. Most people who experience this problem can get their money back if the follow through with their carrier and complain. Also ask for a stop order to be placed so that you do not receive any more of these messages.

You can control these messages and your costs as well simply by blocking these text messages. Call your carrier and get these messages stopped today if you do not want them. You can control your costs and do not need to put up with this type of spam.

For more about text messaging, click here.

Consumers are getting rid of their traditional phones and moving to new technology that provides more services as well as flexibility. There are many solutions available. We felt that it was time to review some of them on this blog as a means of saving some money. While embracing all of these new technologies.

In our own home we have tried to keep our communications cost down to a minimum. But as hard as we try they have crept up over the years. Now it is time to try to do something about it. For example 15 years ago we did not have internet. We now pay $50 a month for high speed internet. We did not have cell phones. Now we pay another $50 for two phones with local air time, long distance and text messaging without data capability.

If we added data for our smart phones this would cost another $30 or $40 or even more. In addition we still have a land line which we have kept to a minimum in terms of features. It costs us about $45. All told we are paying about $150 for communications which is a lot more than what we used to pay for just the phone.

Home Phone Bill – Use Cell Phone Only

Many family s now just use their cell phones for communications plus high speed internet. Right away they save $45 a month on that. If you have not already got rid of a land line and have a cell phone, then I suggest that you do that. Cell phones are so much more flexible and have all of the features that you could ever want. Smart phones can handle data over the network or WiFi which in turn can get you onto the internet to do email etc.

Use WiFi whenever you can to minimize your data requirements. The phone companies have realized that this is huge money for them and are charging a great deal for this service. Using Wifi is one way of keeping this cost to a minimum since it is free and most coffee shops and bars now have WiFi available at no cost.

Should you get rid of your land line? Most of us will eventually so why not now? Our cell phones companies charge a lot for long distance, however there are ways around this as well which can save money. Using services such as Skype or Google’s G Phone is virtually free for most calls. Calls between skype users is free and calls to regular phones are so inexpensive, pennies a minute that it they might as well be free. These systems can be used for outgoing calls and anyone can reach you on your cell phone.

IP Phones

IP phone calls can also be made using a regular phone by installing VoIP as well. This service can be purchased from the regular phone companies as well as startup companies and the cable companies as well who offer IP service. We are not sure why you would do this since it ends up being the same thing as a regular phone service at a lower cost. Just use your cell phone for all calls including local and long distance calls.

Before making any decisions regarding these services, you must really take into account the type of calling that you do. If there is a lot of long distance calls, to another country, and your land line is inexpensive for this service, then you may want to keep your land line and only use your cell phone for local calls for example. This is unfortunately the situation we are in.

My cell phone carrier charges a great deal for calls to the US and other countries. My land line calls are free up to 500 minutes, anywhere in Canada and the US. Since we make a lot of calls to the US, we will keep the landline. Our daughters call us all of the time using a call me card which reverses the long distance charges to us when they call. These calls are also included in the 500 minutes as well so they save money as well. Based on all of this, I guess we will keep the land line and the cell phones for a while longer.

.There are literally thousands of tire dealers available and for good reason. Lot’s of money can be made from selling tires to consumers. Dealers make money when they sell tires, specialized rims, summer tires, winter tires, all season tires and specialty tires. If they are a multipurpose place, they will also repair muffler and may even complete auto repairs as well. Should you go to a specialty tire store who only focuses on tires or should you go to a dealer that you have faith in and provides maintenance repair services as well?

Then there are the tire repairs that are often needed. Rebalance tires, fixing flat tires and so on. It never seems to end and they make a lot of money off these services.  The question a lot of consumers ask themselves is where should I purchase my tires and how can I get the best deal for tires?

Compare Tire Dealers

The old answer is just the same as always. Do your homework, shop around, compare prices and negotiate if you can. Take into account services that are provided and if they are valuable to you, then add these services into the equation while making your decision.

Services might include tire rotation included in the price, tire repairs, tire inflation with nitrogen and so on.  Some consumers will obtain a great deal for their tires from a tire dealer, but then they have to pay $15 a tire to have the tires balanced and rotated after so many miles. That is a total cost of $60 which can add up to a large number over a few years if you drive a lot. Paying at bit more with tire rotation and balancing included might be a better deal.

Tire Dealers – Clean Reception Areas

Some consumers also value being able to go into clean comfortable and warm dealerships when they have their tires replaced. They want to be dealing with what they consider a professional company and a clean tire dealer is one way of getting the impression that the dealership is professional and doing a good job at providing service to their customers.

Personally we have found that Costco has the best tire prices. They have the best service for replacing tires, rotating tires and generally looking after everything to do with tires regarding your car. They have stores all over the country including Canada and the US and Mexico. As well as in many other countries depending on where you’re driving. You can have tire maintenance done at any of the stores as long as you have a receipt for your tires that you purchased at Costco.

Costco will rotate your tires, balance and check the air pressure  for as long as you own the car. If your tires are filled with nitrogen, they will also refill or top up your tires as needed with nitrogen.

A clean shiny hardwood floor will make your home beautiful and stand out to friends and colleagues that come to visit. A clean hardwood floor adds value to your home when you are trying to sell your home. Buyers look at the floor and see how beautiful, clean, and immaculate it is and loves it. This floor can literally sell your home for you, even if there other negatives. Prospective homeowners will overlook these things if their first impression is a strongly positive one.

There are a number of steps that homeowners can consider to keep their floors looking fantastic. This is without the need for a hardwood floor cleaning service. There are companies that provide professional hardwood floor cleaning services. However, if homeowners can do this work themselves. They will save money and their home’s hardwood floor will always be glistening and looking great.

Hardwood Floor Cleaning Service

If you decide to hire a Hardwood Floor Cleaning Service, use the following steps as a guide to interviewing these companies regarding the process they use, the chemicals if any that they use, and the machines they use to ensure that they will deliver the results that you desire.

Preparing to Clean Your Hardwood Floor

There are several steps that homeowners can consider. Take a look at these and apply those that make sense for your flooring:

Step One – determine the type of finish that is on your floor. If there is a protective urethane or polyurethane finish to your floor, there is already a thin protective layer on the floor. Other floors may be natural wood with an oil-based finish, varnish, or even floors with no finish on them. Check with the original owners or with the store that the flooring was purchased from to determine what finish is on your floor.

Step Two – floors that are sealed need only vacuuming and mopping with a mild soap and water solution. Never leave water on the floor and usually, a damp mop is preferred rather than a wet mop.  Oil treat floors need to be vacuumed and then an application of paste wax to protect them from stains and water. For all other floors depending on the finish, there are several cleaners available on the market.

Step Three

Avoid water on your floors. Water causes the wood to expand and even crack in places. It may also leave watermarks. If you must use water on an unfinished floor, just use a damp mop and never leave water droplets on the floor or allow water to go between the cracks.

Step Four – even protective covers will wear down over time, especially in high traffic areas. This protective cover may need to be sanded at some point and the floor recoated with whatever protective cover you are using. For sanding tips, refer to several of our other posts on hardwood floor refinishing.

Step Five – keep your floors clean and free of grit that is tracked in from outside. Remove your shoes at the entry to your home and vacuum on a regular basis, even every day in high traffic areas if there is a lot of grit being tracked into the home.

Step Six – install area mats to protect entrance areas and other high traffic areas. Vacuum these mats regularly each time you vacuum the rest of the home. The rugs will add to your overall décor and also capture any grit that is attached to the bottom of your shoes. This is the main reason that the rug should be vacuumed often.

At some point, you may decide that a hardwood floor cleaning service might be a better choice. Consumers may want to hire a floor cleaning service once a month to keep their floors looking pristine and vacuuming every couple of days to avoid long-term damage. The cleaning service may also vacuum as well before they actually clean the floor.