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2007-01-10 Westlake Writes The Book On Rental Property Management
San Mateo, CA – January 10, 2007 - Knowing that the mistakes property owners make can cost them tens of thousands of dollars, the experts at Westlake Realty wrote HAPPY ABOUT APARTMENT MANAGEMENT, a resource guide showing how multi-family real estate investment can be successful, if owners have the know how to manage property effectively.
Too often, it isn't until owners get into trouble that many real estate investors realize how poorly prepared they are to manage property. They may experience the enormous stress from evictions because they have not developed appropriate credit screening techniques that identify potential dead beats. They may be sued for discrimination because they do not understand fair housing regulations. They fall victim to downward economic spirals because they do not understand the relationship between curb appeal, occupancy rates, and rent. Worst of all, they often don't realize that their properties are underperforming by thousands of dollars each month.
"Investors can successfully win out in property management if they follow the right steps" says Steven M. McDonald, co-author of HAPPY ABOUT APARTMENT MANAGEMENT. The general manager for Westlake Realty Group, Inc.'s residential section, McDonald has managed real estate for over 20 years.
"We have always found it illogical that investors pay substantial fees to their stockbrokers yet trust themselves to manage an investment property that is constantly at risk from fire, vandalism, and personal liability lawsuits. Real estate investment can be your path to financial independence if you are willing to give it the attention it requires," says Robert W. Klag, CEO of Westlake. Klag and McDonald wrote this book with their colleagues Gemma G. Lim, Director of Business Development and M. Gary Wong, President, Westlake Development Partners and Westlake Realty Advisors.
Hoping that property owners will garner invaluable money-making tips, the book covers:
In addition to tips on credit screening, forms every landlord should have, and improving collections, the book explores whether one should hire a property management firm or not. Also, it addresses Technology and The Future of Property Management, highlighting such areas as Image Technology, GPS Technology, Electronic Banking and Property Owner Oversight.
Having saved property owners hundreds of thousands over the years, the authors of HAPPY ABOUT APARTMENT MANAGEMENT hope to inspire new and old investors to save thousands more.
ABOUT WESTLAKE REALTY:
A family owned and operated company that manages a 2.5 million square foot portfolio of properties in the western United States, Westlake is well known for increasing property values and enhancing the tenant experience. Westlake distinguishes itself from others in the industry by combining management expertise with cost effective, state of the art technology. Their executive team has 300 years of combined experience. Westlake has offices in California, New Mexico, Nevada, Oregon and Washington.
ABOUT THE AUTHORS:
Robert W. Klag, CPA, Chief Executive Officer
Klag has a B.S. in economics at the University of California Riverside and an M.B.A. from the University of California, Berkeley. He is a member of the California Association of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Institute of Certified Management Accountants.
Gemma G. Lim, Director of Business Development
Lim has a B.S. in management from Ateneo de Manila University and an M.B.A. from Fordham University in New York. A CRE license candidate, she is fluent in 3 languages. She is a member of Building Owners and Managers Association, The International Council of Shopping Centers and various Chambers of Commerce.
Steven M. McDonald, Vice President & General Manager, Residential Properties
McDonald has earned Housing Credit Certified Professional, Certified Occupancy Specialist, and National Compliance Professional certifications. A San Jose State University graduate, he has a California real estate license, and is a Certified Property Manager through the Institute of Real Estate Management. McDonald serves as vice president of membership for IREM-SF.
M. Gary Wong, President, Westlake Development Partners and Westlake Realty Advisors
Wong is a member of the Policy Advisory Board for the Fisher Center for Real Estate and Urban Economics, the Urban Land Institute, Building Owners and Managers Association, and the International Council of Shopping Centers. He has served on the corporate board and as treasurer of the United Way of Los Angeles and is a Block Leader for the City of Cupertino. He holds a B.A. and an M.B.A. from the University of California, Berkeley.
HAPPY ABOUT APARTMENT MANAGEMENT
30 Years of Expert Tips and Advice on Multifamily Property Management
"HAPPY ABOUT APARTMENT MANAGEMENT is an informative and easy-to-read guide to property management. It is concise and yet comprehensive, touching on every aspect of the business. It will make the task of apartment management all the easier."
"This is an easy to read, practical and insightful guide for property owners and managers and those who are planning to get into the business. I strongly recommend it."
"This book provides a head start for apartment owners who want to learn from 30 years of experience."
"…Any owner/manager of an apartment complex would be wise to follow the advice and wisdom in HAPPY ABOUT APARTMENT MANAGEMENT from these successful real estate professionals."
"…HAPPY ABOUT APARTMENT MANAGEMENT is well written and easy to understand. It takes the reader from technology and how it can change aspects of the way in which property managers do their business to the basic "nuts and bolts' in creating a community with the residence. A great reference guide. "
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