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Red Flags To Look Out for in a Property Management Company

Red Flags To Look Out for in a Property Management Company

If you’ve read our previous post (see it here) you understand that finding the perfect property management company can be something of a struggle – there’s a lot of trust involved in giving someone the rights to your property. We’ve seen past owners of ours get burned by other property management companies and with each company there’s been a similar trail of clues. Keep reading to see the four red flags we recommend looking out for when hiring a property management company.


#1.) You’re Unable to Contact Them.
Your property manager should be easy to contact and there should be a direct, reliable pathway for you to reach. If you’ve called your property manager 4-5 times with no call back, desperately emailed them and even gone to their office with no success – you should be concerned. Of course property managers get busy and there needs to be certain expected grace period for a response – but if you get no response and you don’t know who to go to… this is a major red flag.

 

#2.) Your property manager has no defined marketing plan to get your vacant spaces leased. Typically in property management the PM Company collects a certain portion of rent as their management fee; which means it’s in their best interest to lease as many spaces in your center. Of course it’s also in your best interest to have the least amount of vacancies in your center; after all vacancies are lost income. It’s a red flag if your PM Company has no plan, website, and listing evidence for your property or your vacancies.

 

#3.) Other Properties they manage are poorly upkept.
If other centers they manage are dirty, messy, poorly upkept and have high vacancies with no reason you should be wary of them treating your property the same way. Why would they treat your property any better if they’re unable to take care of the properties they currently have?

 

#4.) You can’t find anything about their company online.
Do a quick google search of Cambridge Group LTD – guess what comes up FIRST link – our website, and then our Facebook Page, and then our Angie’s List Posting, and finally we have a gorgeous side bar display of where we are located, our address and our hours and phone number. We exist on the internet. If you can’t find anything about a company online you should be very concerned. Here’s why this is a red flag; they’re probably trying to avoid bad reviews. Think about it like this… if you have +20 bad YELP reviews do you really want YELP showing up when you google the business, probably not.

 

Hopefully this helps you out in your property management hunt! You can reach us at 702-795-7900 Cambridge Group LTD.

 


 

5 Questions to Ask Your Property Manager

Hiring a property management team can be an extremely stressful experience – after all, as an investor you’ve put a lot of time and money into your property and because of that you want it to be successful – your name is attached to your property.

Hiring a property manager takes a lot of trust and it can be changeling to “let go” and let the property management team do their best work. You have to give up bank account information, social security numbers and other sensitive information to let your property management team do their best work. This isn’t easy to do, and it takes a lot of faith.

Before you hire a property management team and give them access to your property you should ask these 5 questions.


1.) What Services do you offer your clients?

As an owner you need to find out if you are responsible for marketing, leasing, renting and/or selling your property. Is your property management team full service – can they take your property from beginning to end and have everything flow smoothly? It’s important to analyze the services provided and if they make your ownership of this property stress free or full of stress.

2.) Do you have other properties similar to mine?

You want to understand how many units and what other properties your property management team has – it’s also a good idea to tour these other properties and see if they’re up to your standards. Let’s say the property manager handles a 40 unit commercial center that relies heavily on boutique stores … now if you have a property that’s similar to this you can assume that your management team  is capable of handling the task of collecting rent for such a similar center as well as keeping everything in prime condition.

3.)How long have you managed your current properties?

You want to ask this question for two reasons; one to see how long they’ve been in the property management business, and  two to see what their relationship is like with their owners. If they’ve been in property management for 20+ years but all of their centers have been under their management for less than 6 months it could be cause for concern. Have they recently sold properties for their owners (good) or have their owners left their property management team due to poor service (bad). Time a is a valuable tool – maturity and expertise come with longevity and this is an excellent indicator of the relationship your manager has with their property owners.

4.) How does the Rent Collection Process Work for Tenants?

You want a property management company that is up-to-date with technology. Tenants should be able to pay for rent in convenient, fast, and easily tractable ways. This is a bonus for both you and tenants; it means that tenants are more likely to pay on time due to the convenience factor, and it also means deposits get to your account faster due to cutting down on unneeded bank trips. Paying rent online also makes your property more appealing to tenants looking to rent out spaces; they hear “pay your rent online, have your own tenant portal, see pending fee’s” and it’s appealing to them!

5.) How Do I know the Status of My Property/Portfolio?

Is your property management team transparent with the status of your investment? Are you given a detailed monthly report showing exactly where and how money is being spent? Are you able to call your property management team and talk to a real person without a lot of hassle? There’s nothing more frustrating than an unresponsive or unhelpful team – this is your property and your investment and you should be able to ask questions.

If you looking for a property management team you know who to call – 702-795-7900 Cambridge Group LTD

Click Here to Contact Us

 


 

Your Clients SHOULD be Tagging you on Facebook & Instagram

FACEBOOK & INSTAGRAM

 

Remember when you used to use a phone book to look up a business or maybe you relied on word of mouth alone to find your next retail destination? Not anymore – it’s more important than ever to have a strong online presence and with physical stores closing down and online shopping becoming the dominant shopping experience, it’s time to get your business posted where it’ll be seen! Social Media is 100% free and if you’re smart about it you can get your clients to do the hard work of creating engaging content. Keep reading to see why Facebook & Instagram are important for your business!


FACEBOOK

If your business doesn’t have a Facebook page you’re missing out on 100% FREE advertising. It’s extremely important to have a visible Facebook profile with up-to-date content and correct information. One the initial things I do when researching a business is look up their Facebook and Instagram profile – it’s an easy way for me to understand what their location vibes & clientele are like in under 10 seconds. When clients are shopping at your business you can incentivise them to post reviews on your Facebook page or tag their location to reach more people. Think of clever ways to have your clients talk about your business on Facebook.

Here are two ideas that take NO work whatsoever on your part and up your social media presence;

  • If your client posts a review on Facebook they get 10% of their next purchase.  Why does this work; Offering 10% off their next purchase is an incentive for them to come back to YOUR location verses someone else’s business. It’s also is in your business’s favor; if they never come back and use their coupon it doesn’t matter because you still got free social media exposure.
  • Consider offering a free {drink, food, side, discount, etc} for 5 Facebook location tags.          Maybe you already have a punch card set up for your clients; after 5 purchases they get a free drink. But here’s the thing; you shouldn’t be using punch cards. Here’s why.

The biggest reason why you shouldn’t use a punch card is that…  
1.) People lose them and forget about your business
2.) They cost money & time to print and make
3.) You’re missing out of free advertising

So lets set the scenario for you. Johnny comes into your coffee shop to get his Large Vanilla Ice coffee – Johnny gets a punch card and as soon as Johnny gets in his car he drops it into that crack between the seat and the center console (you know that Bermuda triangle of a crack) and guess what. He never tries to find it and forgets all about your coffee shop and that’s it. End of Story. You just spent $.50 on a business card that lasted all of 5 second. 

Scenario Two:  Johnny comes into your coffee shop to get his Large Vanilla Ice coffee. Johnny tags your business on Facebook because after 5 tags Johnny gets a free drink. All of Johnny’s 800 ‘friends’ on Facebook now see his post and learn about YOUR coffee shop. It was FREE for you to use this form of advertising and guess what – it’s the gift that keeps on giving because now all of Johnny’s friends know where your shop is located, that it is a great coffee chain and that Johnny recommends it. 


INSTAGRAM

 

Why should your clients tag you on Instagram? One of the biggest pit falls of social media is the time and often ability to create engaging content! It’s a lot of work to create content and it’s hard to be creative and stand out. Here’s my advice..

1.) Offer discounts to Get the Ball Rolling
2.) Make your business “Instagram Friendly”
3.) Re-post Photos Your Business is Tagged In
4.) Pick a theme & posting schedule and stick with it

  • One great business example of “getting the ball rolling” is Zaba’s.. This sounds weird, but Zaba’s Restaurant offers a free brownie if you take a selfie and post/tag them on Instagram. They’re getting social media presence and growing their Instagram page and it’s EASY.
  • Next step – create an “Instagram Friendly” space. There’s a new coffee shop that’s just opened in Las Vegas Called Cafe Lola; their WHOLE coffee shop is Instagram-able and it shows in the thousands of photos they’re tagged in (see it here) they’ve made it easy to create engaging content – after all they don’t have to “do the work” all of their patrons do the work for them & they don’t have to chase new clients either because reposting photos does it for them.
  • Finally, pick a theme and find the posting schedule that works for you. On the Cambridge Group Insta page we post Monday, Wednesday, Friday and have a very simple, yet steady theme (here) and that’s what works for us.

 

I hope you enjoyed this post and it helps you with your social media adventure. If you have any suggestions for what worked for your business let us know! We love to hear new ideas all the time!

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Get Ready To Celebrate the Fourth of July – Dessert, Dinner & Drinks

FOURTH OF JULY – EVERY KIDS FAVORITE HOLIDAY. Also every adults favorite too. You celebrate the US, enjoy the summer sun, watch gorgeous fireworks while floating around in your pool. What could be better? Keep reading to see a great list of food, drinks and desserts to take your Fourth of July to the next level…ALSO – all the recipes below are tested and amazing!
PS. At the bottom of this email there’s a discount for TNT fireworks!!

Classic angel food cake, filled with homemade coconut whipped cream and studded with berries for a pretty 4th of July look! A light and airy angel food cake with that distinct sugar crust, served with fresh whipped cream and an assortment of summer’s juicy berries does not only scream SUMMER evening dessert but it also says American classic!! It’s a 4th of July perfect combination. And that is exactly what this cake is.

Nothing says “HBD, America!” like firecracker Jell-O shots.

Baked/Grilled Greek Beef Kabobs can be your alternative dish on this summer season. You can cook the Greek Beef Kabobs not only by grilling it, but you can also bake it!
Sweet and Tangy BBQ sauce drenched chicken, topped with Cole Slaw and served in a delicious Sweet Hawaiian Bun. Who wouldn’t be in a celebratory mood with a meal like that?!

 

(Click on photo)

  • If fireworks are being used near your home, put your pet in a safe, interior room to avoid exposure to the sound.
  • Never relight a “dud” firework. Wait 20 minutes and then soak it in a bucket of water.
  • Never carry fireworks in your POCKET or shoot them into METAL or GLASS containers.
  • Do not experiment with homemade fireworks.
  • Dispose of spent fireworks by wetting them down and place in a metal trash can away from any building or combustible materials until the next day.
  • FAA regulations PROHIBIT the possession and transportation of fireworks in your checked baggage or carry-on luggage.

As usual; if you enjoyed this article we’d love to hear your feedback! Share this post and check out our Facebook page for even more interesting content!

 

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6 Steps To Fix A Bad Day At Work

We’ve all had a bad day before. It happens. Maybe you wake up late or you’re stuck in traffic – maybe you even work with a bunch of jerks. I get it. Sometimes things go wrong and you want to be in a bad mood. After all it’s easier to be in a bad mood versus trying to make your bad mood better. So – in honor of the bad day we’ve all had at one point; here are 6 ways to make a bad day better.

 

Step 1. Take a 5 minute walk outside and enjoy the weather (even if it’s 90° outside.) While you’re on your 5 minute break just enjoy being outside and enjoy being up and moving. Even though it’s hot outside, Vegas is beautiful and maybe clarity is what you need.
Once your back from your walk move onto step 2.

Step 2. So you’re back from your walk.. Guzzle a bottle of water. You’ll feel better instantly. Promise. Water works wonders and I’d be willing to bet you’re secretly dehydrated anyways. You CAN’T move onto step 3 until you finish that bottle of water.

Step 3. So you’ve made it to step 4. I’m wiling to bet you’re feeling just a bit better at this point so I think you’re ready for step four, right?Do something nice for someone. It could be complicated or something totally simple. Making someone else feel good makes you feel good. Compliment their shirt or text your friend something you appreciate about them, just do something nice. You’ll make someone else feel amazing and you’ll feel better too. Did you do something nice for someone – you can’t move onto step 4 until you do.

Step 4. Do something nice for yourself.
Little things make me happy. A Cherry Limeaid from sonic equals instant happiness in my world. So – do something nice for yourself. Get that expensive coffee from Starbucks you’ve been dyyyingg to try. Or maybe you really just want a piece of cake. Do it – and have a little moment of simple happiness.

Step 5. Plan Something You’re Excited For.
Sometimes your day at work might be just soo miserable that you need to go big or – quiet literally – go home.
So what to do? Plan something you’re excited for. Like “when I get home I’m going to make myself popcorn and watch that Netflix movie I’ve be dying to see.” Or plan a day with friends; “Just gotta make it through this week and then I can eat all the food on Saturday with ___.”

Step 6. Recognize ALL the Amazing things in Your Life.
A bad day doesn’t equal a bad life. So, think about all the amazing things you have to be thankful for and proud of. You have great friends, or your coffee this morning was perfectly made, maybe you have the cutest dog out of everyone you’ve ever met #blessed.

 


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Meet the Team – Cambridge Group LTD.

Here at Cambridge Group we pride ourselves on our team mentality and we want our clients to be able to put a face to the daily functions of our business. We have a great team with amazing coordination and we’re proud of our business. Without further explanation; here is our team!


Phyllis Hanley – the President and CEO of Cambridge Group Ltd.  She has been selling, leasing and managing commercial real estate since 1990.   Our company motto is to treat our clients property as we would our own; Phyllis prides herself on the fact that our clients have  become our friends, and most have been a part of the Cambridge Group family for 20+ years. On a daily basis,  Phyllis handles shopping center sales, leasing, commercial property management and communications.

Jordan Hanley – Is the Senior Executive for Hanley Realty Group a subsidiary of Cambridge Group.  Jordan specializes in buyer representation, as well as free property evaluation. His sales are in the residential realm as well as commercial sales and leasing.

Penny Etheridge –  Penny has been a licensed Real Estate Agent since 2006, she’s very much a people person and her clients gravitate to her bubbly personality.  She has great experience in residential sales and commercial leasing.

Miranda Blad – Miranda has been with our company for 6 years and currently works part-time as Broker Assistant and back up to the Office Manager. She handles day to day operations including accounts payable, monthly management reports and broker-unique projects.

Veronica Patrick – Veronica is the lead Office Manager handling everything from accounts payable, bookkeeping and Management reports, as well as billing & payments. She is our expert on the property management software system, contract review and tenant communication and resolution.

Josephine Lourenco – Josephine is our Marketing Coordinator, she handles advertising and social media presence – with over 200 sites being utilized and growing, she keeps busy with our promotions.  She writes and shares the blog posts you see every week and creates the brochures we handout.

 

If you ever have any questions or would like more information on our business, please feel free to contact our office at 702-795-7900.

 


 

8 EASY Ways To Keep Your Kids Entertained This Summer

Summer is officially here! Which is exciting and also daunting in a way… because now your kids have NOTHING to do all summer. They’re bored, you’re pulling your hair out – and the heat is beating down. I get it. You love your kids but spending to much time with them is rough 😉

Here are EIGHT activities that’ll keep your kids occupied this summer, so you can have some quiet time.

1.) Get them involved In Summer Camp

If you’re a working parent/couple with young kids it can be stressful figuring out what they’ll do or where they’ll go all day. Even if your a stay at home parent and just want some free time from your kids summer camp is a great option. Summer Camp is a great way to let them make friends, do fun activities and just try something new – and also get them out of the house for a few hours! (See Here)

2.) $1 Summer Movies

ONE DOLLAR MOVIES. This is a steal.Movies are super fun and a great way to use up two hours of the day while escaping the Vegas heat. Showtimes are Tuesday & Wednesday around 10am and the selection of movies is great! (See Here)

3.) Desert Breeze Aquatic Center

Located at 8275 Spring Mountain Rd. Las Vegas, NV 89117 this swim park is a great way to escape the Vegas Heat and work on your tan. Prices are SUPER affordable. (See Here)
Children (Ages 3-17): $2.00
Adults (Ages 18-54): $3.00
Seniors (Ages 55 and up): $1.00
Children 2 and under: Free

4.) The Discovery Children’s Museum

… is a classic Las Vegas activity and is SUPER interactive, and takes about 2-3 hours to fully complete. Of course if you want to spend more/less time at the museum you can. Prices are VERY affordable. Local adult/child- $12.50. (See more here)

5.) Go To Gilcrease

Bet you didn’t know Las Vegas had an orchard… well we do! Head down to Gilcrease on Tuesdays, Thursdays, and Saturdays from 7am-12pm. Check out their website here to see what’s in season! You can pick a variety of vegetable and fruit and it’s a really fun activity for kids (and adults) of all ages. It’s also a pro way to get your kids tired for their afternoon nap… Sounds like a win-win right!?

6.) Make Smores.

Vegas Summer nights are really the only “cool” time during the season. It’s notoriously hot during the summer months. Get your kids excited for summer nights and make some good-old-fashioned Smores. This is a really easy activity if you have kids 6 or older – they need minor supervision and are able to assemble their smores themselves.

7.) Plan a Game Night

I love game nights – as an added bonus they’re adjustable for all ages. Get complicated with “Monopoly” or stick to the simple with “Guess Who.” Take the smores you made in #7 and eat them while you dominant during game night!

8.) Make a Scavenger Hunt

Planning a scavenger hunt in your home is super simple. It’s as basic as a few sticky notes :). Hide clues around the house that lead your kids to easy destinations they’ll know. Like “You’ll find CLUE TWO where your shoes go.”
Lead them to the shoe closet where they’ll find CLUE THREE “You brush your teeth here.” At the end of the game have something small and silly hidden.

And maybe you’re a parent working from home and now your kids are with you while you’re trying to work your normal schedule. We understand how difficult this can be – and also how hard it can be to stay focused and motivated to get your job done. Well – here’s your solution. We have a few really affordable office spaces for lease. They’re small, easy to move into – and we have flexibility in our lease signing options. Maybe it’s time to get an office space away from home and work by yourself for a few hours. Check them out here.

Cambridge Group LTD 702-795-7900

A Home Buyers Guide to Las Vegas – Safest Neighborhoods

Las Vegas is a complicated market – industry is booming here and the housing market is more active than ever. To assist your Las Vegas house hunt we’ve compiled the best resources on the market. Keep reading to get an overall feeling of our market, and to see the best zip codes to live in!


From: Real Estate US News – A First-Time Homebuyer’s Guide to Las Vegas

Arguably the hardest part of a Real Estate Agent’s job is setting realistic expectations for our clients. We all want it all when it comes to our home. We want to be located in Summerlin and our home needs granite counters, hardwood floors, a huge backyard with a pool, easy work commute, office space, master bedroom with a walk in closet, a tree house, a vineyard and a slide from the first story to the second- and our budget is $120,000. Seems impossible right? The Las Vegas market is moving fast and it’s all about understanding what you can get. See the below tips from Misti Yang.

Tip #1 Understand what your budget can get you.
Depending on your perspective, Las Vegas real estate can either be a homebuyer’s dream, or it can cause sticker shock. (Click here to see how to set your home buying budget.)
 

Tip #2 Be prepared to renovate if you’re after character.
If you imagine yourself in a gated community with a fine-tuned homeowner’s association, you’re in luck because Las Vegas has plenty. But if you’re dead-set on a house with charm or loathe HOAs, you should develop an appreciation for mid-century and desert modern architecture, and get ready to renovate.” The rest of these market tips can be found here.


The second most concerning and difficult aspect to buying a home whether you’re in Las Vegas or not revolves around the zip code of your home! Everyone has different needs and wants regarding their location – but for a large portion of people who are at a home buying age – safety matters.

Here are the top 5 neighborhoods we recommend you check out:

  1. The Lakes Las Vegas (91st Percentile)
  2. Sun City Summerlin (71st Percentile)
  3. Macdonald Ranch (67th Percentile)
  4. Centennial Hills (63rd Percentile)
  5. Summerlin North (58th Percentile)

(If you click on each neighborhood name you can see the positives of the locations and negatives as well as their livability, cost of living, education, housing, amenities, crime, employment and weather score.)

 

If you enjoyed this post we’d love for you to share and visit our Facebook profile here!

Working from a Coffee Shop?

Coffee Shops & Commercial Real Estate? Real Estate can be a tricky game; the market in Las Vegas is extremely competitive and depending on your business needs it might take a minute to find the perfect space for your business. While you’re waiting for your dream office space to pop up on the market – coffee shops might be the perfect in-between office space for you! Or maybe you already have the perfect office space, and just enjoy getting out every once in awhile to work in a new environment? Whatever your current situation is we recognize that the PERFECT work-coffee shop is hard to find.  Here are the top 4 coffee shops we think would be great to work at until your dream space is on the market!


 

1.) Gabi’s Coffee Shop · I think the photos say enough – this GORGEOUS coffee shop has amazing lighting, plenty of seats and over 51 positive reviews on Yelp. Newly opened and already making a splash in Vegas, we see this coffee shop becoming the next “go to” for creative centric business meetings. Located on Spring Mountain & Jones this coffee shop is the perfect hidden destination to work or hang with friends. See more of their menu here!  


2.) Sambalatte Torrefazione · This two story coffee shop is what dreams are made of. With three locations; business meetings just got easier, plus who wants their favorite coffee shop confined to one sip code? (Pro Tip: Try the rainbow Nutella latte, it’s everything your Instagram feed needs.) See more here!


3.) Maker’s and Finder’s Coffee · Makers & Finders is a Latin cafe coffee bar located at the Summerlin Mall. The menu features thoughtfully inspired food from South/Central America including handmade Arepas, Empanadas & more! Baristas are highly trained in craft coffee making including handmade syrups, seven different brew methods, five single-origin coffee beans, all for one cup. Sounds Amaze Right?! See more here!

4.) Sunrise Coffee · Sunrise Coffee is your neighborhood coffee shop with a flair for the eclectic. They “believe in creating an atmosphere that focuses on organic fair trade coffee from single origin farms, vegetarian and vegan foods, and genuinely well adjusted baristas. If you are looking for a place to call your own, look no further.” See more Here!

And maybe you’re getting tired of working in a coffee shop – it can be pretty expensive to keep up with those $5 cold brews! If you’re interested in some great office spaces go ahead and click here or feel free to call our office at 702-795-7900 – we have a variety of all-inclusive office spaces on the market.

 

5 Things Successful Businesses Do Differently

Owning a small business is HARD work. Long hours, book keeping, social media; it’s stressful and sometimes it seems like the reward isn’t that great! Here are 5 things YOUR business should be doing today!


1.) SOCIAL MEDIA
Social media is the FUTURE for a small business; your brand is represented on your Instagram, Facebook, Twitter and even Pinterest profile. Having a strong social media leads to a 7x higher conversion rate (see more here.)
Social media is FREE. If you aren’t taking full advantage of social media you’re missing a key factor! So, how do you develop a strong Social Media Presence.

2.) ACCOUNTING SOFTWARE
Your accounting should be crystal clear and to a T! Your small business needs solutions that are affordable and easy to use.
Features you should look for:
  • Automated Entries
  • Invoicing
  • Convenient Bill Payment
  • Expense, Financial & Reconciliation Reports

3.) DEVELOP A DATA BASED CULTURE
You need to be a DATA GENIUS. It’s time to get in the habit of tracking everything .
You should know what month has the highest sales, what your customer demographic looks like, what holidays to target sales, and what audience you’re missing out on!

4.) DEVELOP YOUR WORK CULTURE
“What central values are important to our company? How do we share them with our team? How will our cultural values impact our day-to-day operations?”
Truth be told, either you can shape your own culture or it will inevitably shape itself.

5.) RECOGNIZE YOUR EMPLOYEES FOR A JOB WELL DONE
A company’s success is made up of its achievements, and these achievements are made possible by the hard-working team members behind the brand.

Cambridge Group is lucky to have a great mix of strong, successful businesses! If you’re interested in renting any of our spaces check them out here!

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