Are rents going down?

As it turns out, at this moment, here in Omaha rents seem to be stable…which actually normally implies that the market is strong…strong as in rent forces may be pushing rents up. However, according to national averages that may not hold. For years everyone was wondering why Millennials weren’t buying homes. Well, now it’s known. In 2016 that generation started buying homes again, but why? Well interestingly, according to this article, and others it’s because living in rentals was getting expensive. Especially in the newly reconstructed/refurbished mid/downtown buildings being brought back online. The cost of construction really did skyrocket to … More

Wistar Group in the news

Our very own Property Management Director is in the news about a story related to hiring maintenance employees and the challenges associated with finding them. The trades offer excellent opportunities for anyone willing to put the time in to learn. The market is changing and 4 year degrees are not as important as they once were for being able to earn a good living. Click here for the full story. And to learn more about how to get into the maintenance trade here is the link to the organization referenced in the story.  

IRS Safe Harbor for Real Estate – 20% deduction on federal taxes?

There has always (apparently) been a discussion in the tax preparer world as to whether income derived from rental properties is considered to be passive income or not. In our mind, based on the vernacular, we would apply the test of whether or not we as investors are actively participating in the rental business itself. I mean, duh…are we actively or passively involved, right? Well…no, that’s not necessarily the case at all. And interestingly, what is relevant to us as managers and to you as clients of a management company is that the time we (agents) spend on your property … More

Rents going down?

It does seem to be the case, at least on a macro scale. Adobo is a website for renters and they do a good job with higher level information on matters related to rentals. Full article here.  

Especially useful video for Nebraska Landlords: How to handle vendors

Tis the season to try to get away with paying as few taxes as possible. Which is just dandy, that’s what loopholes and politicians are for. But don’t be the lazy sort of business owner that skimps on the things you must do legally or it can be devastating to you…and yours. This series goes over the steps to make sure you can deduct subcontracted work. Happy Season!  

Bi-Monthly Rent Payments…hmmm

I’d never really considered this idea. It could actually be a win-win. Tenants get the flexibility and the property owner gets a little bit of compensation to offset the hassle. The downside is that a lot of that “extra” revenue is going to get gobbled up if there isn’t a very automated system in place. For instance, receiving rents directly into the bank account without having to physically touch the checks. If you don’t have that type of system, an automated system then the value depreciates pretty quickly. It’s something to consider though.  

President of Wistar Group on WOWT regarding landlord registry

It’s a small quote, but it’s important that the media…or rather the citizens of Omaha have a chance to hear all sides of this discussion. Let’s hope our elected officials can break the political divide and come up with something that actually makes housing better. WOWT Yale Park

Radio interview on KOIL talk radio regarding Yale Park

Paul Vojchehoske and I were asked to get back on the mic to discuss the recent goings-on here in the city regarding a proposed landlord registry. It really was good to be back on the air again. Radio Interview on KOIL regarding Yale Park

Goal Attainment and Reflection on Failure

Happy New Year everyone! New Year’s resolutions are the name of the game this time of year and I just wanted to write a few thoughts on goal attainment and reflection on failure. Recently I was talking about goals with the wonderful John L. Hoich. He was kind enough to share with me part of his recipe for meeting and exceeding his goals which was a document similar to this one. He has been creating these documents every year since 2014 and has a track record of success to prove that it is at least an important component of his … More

It’s that time of the year in the Midwest…Train your staff!!!

All property management companies know that they should be sending all of their personnel for Fair Housing Training, but…as is the norm too many “mom-n-pop” management companies and property owners don’t ever find the time for it. It’s important to know that when there is a claim, and you can expect that during your career there will be, having trained your staff is a level of protection that can save not just money, but your livelihood. We’ve always used Paul Vojchehoske for our Fair Housing, Lead-Based Paint Disclosures, and the Nebraska Landlord Tenant Act who is now at Randall School … More