The Top Property Management Newsletter and Events for July 2023

July
Celebrating Summer and America’s Birthday

Polaris Property Management welcomes you to our July newsletter, packed with exciting updates, comprehensive resources, and the very latest from the real estate industry. As the temperature and fireworks continue to rise, sit back and take a moment to reflect on the state of the real estate rental market and what the remainder of 2023 has in store for us.

Bringing you a round up of the latest news, ideas and tips to maximize your experience as a landlord or REALTOR®.

Happy Birthday, America!

 

Unlocking Property Potential: A Comprehensive Guide to July’s Real Estate Market

Summer is here, and as we step into July, it’s time to delve deeper into the strategies that can unlock the full potential of your properties.

First, getting to know your market inside out is crucial. Local trends can differ significantly from national ones, so make sure you’re informed about both. What are the popular property types in your area? What price range are potential tenants looking at? Are there certain amenities they prioritize? Answers to these questions can help you fine-tune your strategies.

Second, never underestimate the power of a summer facelift. Tenants appreciate summer-friendly features, and the smallest improvements can make a significant difference. Consider enhancing outdoor spaces, perhaps by adding a BBQ area or sprucing up the garden. Even minor touches like sun shades or fans can boost your property’s appeal.

Third, Marketing your property effectively during this high-demand season is the next step. Showcase your property’s summer-friendly aspects, emphasize its unique selling points, and make sure your communication is swift and helpful. The quicker and more effectively you engage with potential tenants, the higher your chances of sealing the deal.

Fourth, remember that managing properties isn’t just about the bricks and mortar—it’s about the people who live there. Fostering a strong community feeling among your tenants can significantly improve retention rates. Organize summer social events, communicate effectively, and ensure any issues are resolved promptly and professionally.

We recently heard about Laura, a property manager in San Diego, who knows the importance of understanding her market. She discovered that properties with outdoor spaces are particularly popular during summer, and that by starting the lease during the summer months with the enticing outdoor space brings a higher monthly cash flow all year (she charges more rent for leases starting in the summer!). She recently added a BBQ area to her property’s communal garden and marketed this new feature aggressively. Her quick responses to inquiries and detailed information help her secure several new tenants.

Additionally, this past year she organized a summer BBQ event for her tenants, that helped to create a strong sense of community – resulting in a 17% higher retention rate with her current tenants.

Take a moment and think about what you could do this summer to make a year long impact!  As the July sun shines brightly, use these strategies to make your property shine just as bright. Here’s to a successful summer season!

Property Management in the Heat: How to Keep Your Properties Cool and Occupied this July

 

Now that July is upon us, bringing scorching temperatures, summer vacations, and some unique challenges in our field.

Managing properties in the heat might seem daunting, so we are here with handy tips to help you keep your properties cool, comfortable, and occupied this summer.

Remember: it’s all about staying cool. Check all your air conditioning units and ensure they’re serviced and functioning efficiently. If possible, provide additional fans in each room for improved air circulation. It might seem like a minor detail, but it can significantly impact tenant comfort.

Energy efficiency is another crucial aspect. Encourage tenants to keep their blinds closed during peak sunlight hours to minimize heat buildup. If feasible, install thermal curtains or sun shades for windows facing the sun – they can work wonders to keep the indoor temperatures manageable.

Don’t forget about hydration. Keeping cool is about more than just air conditioning. For multi-unit and commercial leasese: Installing water coolers in common areas can encourage tenants to stay hydrated. It’s a small touch, but it can significantly enhance the living experience.

Finally, maintain open communication with your tenants. Regular updates on the measures you’re implementing can build trust and improve your relationship with your tenants. By being proactive, you can boost tenant satisfaction and improve retention rates, keeping your properties occupied and thriving throughout July!

I hope these tips make your July management tasks a little cooler! Happy summer!

Investing in property is a significant endeavor, and having the right property management partner by your side is crucial for  your success.

Polaris Property Management in Indianapolis is committed to supporting your investment goals by providing top-notch property management services tailored to your unique needs. We prioritize open communication, transparent processes, and a customer-centric approach, ensuring your satisfaction every step of the way.

 

Two Cool refreshing Beverages for the Fourth! (Adult or Youth)

I hope these recipes bring some cool and delicious moments to your July! Cheers to a fantastic summer!

🍴 Adult Beverage: Strawberry Mint Mojito

This delightful twist on the classic mojito combines the sweetness of strawberries with the refreshing taste of mint. It’s the perfect beverage for a summer evening or a backyard barbecue.

Ingredients:

  • 6-8 fresh strawberries, hulled and sliced
  • 8-10 fresh mint leaves
  • 2 tablespoons sugar
  • Juice of 1 lime
  • 2 ounces white rum
  • Club soda
  • Ice cubes

Instructions:

  1. In a sturdy glass or cocktail shaker, muddle together the sliced strawberries, mint leaves, and sugar until they are well combined and the strawberries release their juices.
  2. Add the lime juice and white rum to the mixture and stir well.
  3. Fill a tall glass with ice cubes and pour the strawberry-mint mixture over the ice.
  4. Top it off with club soda and give it a gentle stir.
  5. Garnish with a sprig of fresh mint and a strawberry slice.
  6. Serve and enjoy your refreshing Strawberry Mint Mojito!

🍴 Youth-Friendly Beverage: Watermelon Lemonade

Watermelon is a quintessential summer fruit, and when combined with zesty lemonade, it creates a thirst-quenching drink that’s perfect for all ages. This watermelon lemonade will keep you cool and refreshed on hot July days.

Ingredients:

  • 4 cups cubed seedless watermelon
  • Juice of 4 lemons
  • 1/4 cup sugar (adjust to taste)
  • 4 cups cold water
  • Ice cubes
  • Lemon slices and mint sprigs for garnish (optional)

Instructions:

  1. In a blender, puree the watermelon until smooth.
  2. Pour the watermelon puree through a fine-mesh strainer to remove any pulp or seeds, and collect the juice in a pitcher.
  3. Add the lemon juice and sugar to the pitcher and stir until the sugar dissolves.
  4. Add the cold water and stir again.
  5. Taste the lemonade and adjust the sweetness by adding more sugar if desired.
  6. Fill glasses with ice cubes and pour the watermelon lemonade over the ice.
  7. Garnish with lemon slices and mint sprigs if you like.
  8. Serve and enjoy your refreshing Watermelon Lemonade!

Get A Free Rental Property Analysis

The Polaris Property Management Team of experts would love to provide you with expert analysis of your property. Click the button below to go to our Rental Property Analysis Request Form.

Home Maintenance & Safety Checklist

Let us help you keep track of those required and necessary maintenance records.

It’s helpful for your records and when you sell or lease your home.

You asked for them so we will be providing a monthly checklist – mailed directly to your email address. 

July Home Maintenance & Safety Checklist

🔲  Check All Locks and Deadbolts

🔲 Clean Your Windows – Inside and Out

🔲 Check the Water Softener

🔲 Drain and Refill Your Water Heater

🔲 Dust Ceiling Fan Blades

🔲 Hang Wasp Traps

🔲 Plan for the Extreme Heat

🔲 Check the Expiration Dates on Fire Extinguishers

🔲 Wipe down the Washing Machine Tub

🔲 Clean that Outdoor Grill!  For a video on how to clean – check out this video from Dave’s Ohio BBQ

If you own property, or are thinking about investing, and would like to discuss steps to obtain your own financial independence through property ownership and professional property management, please contact us today: Dan@PolarisManage.com

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