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Property Management

Have you ever considered a career as a property manager? This career path is definitely not for everyone. However, it is a solid career choice in a growing field. This means that once established, property managers have a good level of job security as well opportunities for growth and advancement. Jobs are usually easy to find and secure for qualified individuals with a degree, experience or both.

Columbia Property management carries some unexpected challenges. It also has a variety of unique benefits. The right individual will find this career rewarding and will be well equipped to handle the variety of tasks that property managers are required to complete. Before considering a career in this field an individual should carefully examine the position and its requirements to be sure that this job is a good fit. The many demands of this job can prove overwhelming some individuals. The right individual will be able to complete a variety of diverse tasks and will be available all hours.

What exactly is a property manager?

Basically, a property manager takes care of a property. This means that they manage all vital elements of this property including: maintenance, finances, tenants, customer relations, and emergencies. While all tasks are not necessarily completed by the property manager directly, the manager is required to oversee and coordinate these and other needed tasks for the property.

Property managers are often employed by apartment complexes, rental agencies, and businesses with extensive property holdings. Sometimes, they oversee one singular property while other property managers will have stewardship over multiple properties. It all depends on the size of the property and level of care desired.

What type of education and training is required?

Managers generally are college educated and have a degree. A degree, however, is no way a requirement for the position. Experience in related fields can compensate for a lack of education. Any experience in management, finance, repair or related subjects will prove useful to a property manager as they undergo daily tasks. Much job training will come on the job. Some property managers take courses in addition to on the job training to further hone their skills.

Most property management in Columbia professionals begin their career as assistant manager and learn the field while helping a current property manager with their daily tasks.

There is potential for advancement in this field. Many managers start in the field in smaller, lower-paying jobs. However, as experience grows they are able to secure more complex positions and manage more expensive properties. This generally results in an increase in compensation and associated benefits.

What is the schedule like?

This job is a job that knows no schedule. Emergencies will happen at all hours, and a manager will need to be available to fix them. This field is likely not a good fit for someone who would be unable to wake up in the middle of the night for a problem. Potential tenants will typically work a traditional schedule and will require property showings during evening and weekend hours. Repair and maintenance crews typically work during the day. This complex schedule will result in very non-traditional hours.

Managers need to be ready to work at all times. When an emergency situation arises, they need to remain calm and collected to help the issue resolve. Tenants will call at all of the day and night with problems and complaints. Visit their official website for more updates.

Are there any special skills a property manager should possess?

A calm disposition under pressure is essential. Managers work with a variety of people in many situations. They need to be able to calmly negotiate fees with contractors, kindly resolve customer complaints, and explain leases and legal issues to potential tenants. Each of these situations can be complex and requires a strong set of people skills.

Property managers also have to be able to handle pressure. They are responsible for collecting unpaid rent and resolving tenant complaints. They also act as a salesperson for the property when new tenants are needed. This position requires an adaptive personality that can handle a variety of situations and changes. They must be able to multi-task and quickly change tasks as needed.

Property Management

How is the work environment?

A property manager will have the opportunity to work both in and out of an office. Some tasks like bookkeeping will occur in the office. Other tasks like property inspections will occur out of the office. This is a good position for someone looking for variety and the opportunity to move around. Some managers oversee properties alone. Others work with a team. The work environment will largely be determined by the specific needs of the assignment. Visit my latest blog posted at http://www.burbankcaproperty.com/tips-hiring-competent-property-manager-columbia/

What is typical compensation?

While property management isn’t the best paying job around, it does pay well. The average salary for managers is around $46,000. The US Department of Labor reports that half of the property managers in the United States are compensated in the range of $31,730 to $68,770. Property management professionals also generally get employment perks like free rent, especially when managing an apartment complex. Vehicle compensation is also commonly provided when the position requires extensive use of a personal car.

They work hard for their money and often work long hours or overtime. Managers are constantly on call. They are often understaffed, and required to pick up any work that is not accomplished.

Is property management the career for me?

Property management is a demanding career field. However, the right individual will find the position rewarding and ever changing. Before accepting a position in this field, carefully evaluate yourself to be sure that you are ready for the challenge. Determine whether you possess or are willing to develop the variety of skills that property management pros do every day.

Michigan Unclaimed Property – Reporting and Claiming

The list of the unclaimed properties in USA is said to continue increasing. Year after year, banks or property holders deliver to the government unclaimed assets. Prior to surrendering the unclaimed asset, the banks or holders exert efforts to find and notify the owner. However, they fail to locate the supposed claimants and there is no recourse for them but to surrender the property to the government.
The problem is not unique to one state only. In fact, many states had been encountering the problem for a very long time. The state of Michigan is laden with problems on the increasing amount of Michigan unclaimed property. Oregon, New Jersey and other states in USA have the same problem.
Any owner of Michigan unclaimed property can recover his assets anytime. In fact there is no prescription time for claiming. The procedure is also made simple. Despite these, a lot of unclaimed properties remain in the custody of the state. The main problem lies in the fact that the owner can no longer be traced. Where they had gone to is completely unknown – as they definitely had changed addresses or had moved to another state without leaving a forwarding address. .Read more information about unclaimed funds new procedures at http://www.txwb.uscourts.gov/node/118

Understand what Michigan unclaimed property is

Many persons do not understand what Michigan unclaimed property means. This could be the reason why many owners of these properties are not aware of their assets. They are misinformed or uninformed. The Michigan unclaimed property is any asset in the state of Michigan, which can be tangible or intangible and which had remained unclaimed by the owner for a given period of time. Assets or properties that remain in the bank or with any holder need to have some movements within two years. Deposit accounts should have deposits or withdrawals within two years, otherwise the account becomes dormant. And after sometime, the dormant account is escheated to the state. This then becomes an unclaimed property. There are other assets that qualify to be classified in this category – stock certificates, contents of safety deposit box and more.

Michigan Unclaimed Property – Reporting and ClaimingReporting a Michigan unclaimed property

The classification of assets as unclaimed property starts with the bank or holder. The assets have to be reported otherwise the bank or holder will be penalized for failure to do so. Different states can have different statutes on this and in Michigan the handling of unclaimed properties is governed by Michigan Unclaimed Property Act. This is also known as Public Act 29 which was promulgated in 1995. Under this law, all businesses as well as government firms are required to report their abandoned properties to the Department of Treasure of Michigan.
There is a prescribed due date for reporting the unclaimed property. Assets being classified as dormant at the end of the first quarter have to be reported first day of the third quarter of the year. All commercial and government companies are provided with instructions on how to perform their obligation to the state and owner. The reportorial requirement is dependent on the total amount of the assets that need to be reported. Visit http://www.burbankcaproperty.com/benefits-owners-property-management-fresno-california/ to read more information about benefits of Property Managementt

Claiming a Michigan unclaimed property

Claims for the Michigan unclaimed property can be done by the same owner of the property or in case of owner’s death, the claiming can be done by legitimate heirs. Claiming can be done anytime and there is no limit of time for the claim to be undertaken. The property is held by the Unclaimed Property Division of the Department of Treasury of Michigan until the owner or his heirs claim it. There is a prescribed form to fill up when claiming the property.
Do you know if you have a Michigan unclaimed property? You can start searching from the Michigan Department of Treasure website. You can always try locating; you might have some money waiting for you in the state’s treasury.