The 5 Most Challenging Profit Killers
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These are the 5 most challenging profit killers facing property managers and property management companies.
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The 5 Most Challenging Profit Killers
- 1. 5 Most CHALLENGING Profit Killers for Luxury Condo Property Management A Comprehensive Research Study by Empire Research Team Presentation Rights Granted to Jowers & Co.
- 7. Challenging Profit KILLER #1 Shockwave Effects of the Mortgage Crisis © 2008- 2009 Empire Research Team
- 18. Challenging Profit KILLER #2 Sky-Rocketing Insurance Rates & Property Taxes © 2008- 2009 Empire Research Team
- 23. Challenging Profit KILLER #2 Sky-Rocketing Insurance Rates & Property Taxes BusinessWeek - A reversal in property taxes?; by: Dean Foust on June 21, 2007 Year Personal Income Property Taxes 1990 6.78% 9.28% 1991 4.94 7.96 1992 4.61 7.34 1993 5.32 5.22 1994 4.16 3.90 1995 5.86% 3.20% 1996 4.99 2.94 1997 6.18 4.48 1998 6.81 5.17 1999 6.27 4.14 2000 6.61% 3.97% 2001 6.22 5.82 2002 2.02 5.88 2003 2.19 6.27 2004 4.66 7.27 2005 3.89 6.16 2006 4.12 6.23 Federal Tax Foundation Chart: GA Property Taxes vs. Personal Income … Georgia Property Taxes run a CONSISTENTLY HIGHER RATE than Personal Income growth… © 2008- 2009 Empire Research Team
- 27. Challenging Profit KILLER #3 Health-Related Claims and Infraction Liability Problems © 2008- 2009 Empire Research Team
- 37. Challenging Profit KILLER #4 Responsibility Consolidation and OVERLOAD © 2008- 2009 Empire Research Team
- 49. Challenging Profit KILLER #5 Market Saturation and Higher Costs © 2008- 2009 Empire Research Team
- 65. © 2008- 2009 Empire Research Team How to Stay Efficient and Effective Does it make better FINANCIAL SENSE and TIME EFFICIENCY to employ personnel in-house, or contract the services of EXPERT professionals? Let’s take a look at some resources on the subject, and some side-by-side comparisons…
- 66. © 2008- 2009 Empire Research Team Employment and Contract Services DEFINITIONS An Employee is defined as a person on the actual payroll. Employees exclude temporary and contract workers but include the owner or manager if that person works at the firm. An Independent Contractor is defined as a person engaged in an independently established business - a person engaged in an occupation that contracts to work according to their own methods, without being subject to control of the employer except for results.
- 67. © 2008- 2009 Empire Research Team Employment and Contract Services For many years, Property Management firms have been well aware that they can be held liable for the wrongful acts of those they hire and that greater liability is associated with workers hired as employees than exists for independent contractors . This difference in liability relates in large part to the degree of control over workers' activities. The issue of control also is a primary criterion in the distinction of employee versus independent-contractor status. Journal of Property Management - By McBride, John
- 71. © 2008- 2009 Empire Research Team Employment and Contract Services Earlier, we discussed the OVERLOADED responsibilities that has become more prevalent amongst Property Managers. Understand that just utilizing professional Contractor Services doesn’t solve all your problems… The PROBLEM of managing and coordinating the efforts of MULTIPLE service contractors can be an additional strain on time resources… Note this IMPORTANT point!
- 80. © 2008- 2009 Empire Research Team Staying Competitive With the new information presented… … Professional Services exemplified… and the factors of Time & Money Savings provided, how can we help YOU like we’ve helped so many others? Let’s see where you can experience similar BENEFITS as some of our most loyal clients…
- 81. © 2008- 2009 Empire Research Team Testimonials “ The people and staff are wonderful. They will come out when you call. I recommend Jowers to any business, because you will not be disappointed.“ ~ Kumba Bass “ I’ve been using Jowers since 2000. The response from the residents and the board is outstanding. I would highly recommend their services to anyone who is in need of janitorial services.” ~ Richard Hooker
- 82. © 2008- 2009 Empire Research Team Testimonials “ The Jowers people are an important part of our team. They are detailed and courteous. I could always reach someone when I needed help, or needed additional services. They are a part of what makes us successful.“ ~ Gina Krauth & Robert Ransome Now You Know…
- 83. For your Assessment or more information on customized Property Management Solutions , please contact: JOWERS & COMPANY, INC. www.JowersCo.com [email_address] Direct : 404.633.8707