ALEXANDRIA, Virginia (April 22, 2011) – Bernard Petersen of MPC Property Management, has been named a Certified Manager of Community Associations (CMCA) by the National Board of Certification for Community Association Managers (NBC-CAM). Bernard joins more than 6,500 CMCA certificants nationwide who have demonstrated the professional knowledge that is so important for managing condominium and homeowner associations and cooperatives.

MPC Property Management is centrally located in Burlington, WI and covers Southeastern Wisconsin. As a proven leader in the industry, MPC serves the growing need for reliable, professional property management of residential, commercial, and community associations.

To obtain and maintain the CMCA credential, a manager must complete comprehensive course work, pass a National Certification Examination, adhere to the CMCA Standards of Professional Conduct, and take continuing education courses to recertify.

NBC-CAM is the first and only nationwide organization created solely to certify community association managers and to help consumers identify managers who have demonstrated fundamental competency and knowledge in this profession. With the dramatic increase in association-governed housing over the past 35 years (10,000 community associations in 1970 versus an estimated 286,000 today), there is an expanded need for education in community association management. Fifty seven million Americans live in association-governed communities.

Professional managers provide administrative, operational and managerial counsel to community association boards. They typically are responsible for managing budgets and contractors, directing association personnel, and overseeing compliance with association covenants and restrictions. NBC-CAM was established in 1995 by Community Associations Institute (CAI) to ensure that managers have the appropriate skills to effectively manage community associations. CAI and its more than 50 state, regional, and local chapters work on behalf of the professionals and volunteers engaged in the management and governance of homeowner and condominium associations, cooperatives, and other planned communities. CAI’s more than 28,000 members include community association volunteer leaders, managers, management companies, and businesses that provide products and services to these communities. More information is available at www.caionline.org.

Concerned that they will not see a return on their investment, many homeowners are rethinking the sale of their home in the current real estate market. Instead, they are taking in to consideration renting their home until the market improves, giving them a steady income in the interim.

Whether a homeowner needs to relocate for a job, or they need to move for other reasons, the downturn can make selling a home difficult. The market is in a seemingly unbearable slump, and most economists are predicting that the market will remain sluggish for awhile. And while there are people who are selling their homes, many are doing so at a loss, either because they owe more than the home is worth, or because it won’t yield what it once could have.

For some would-be sellers, the solution is renting out the property for the time being, rather than suffering a loss from plummeting home prices. Property values have declined significantly, and it may not make sense to sell now and lose the equity that would be gained by waiting for the market to improve.

Choosing to be a landlord may not be for the faint of heart though. You need to be prepared to screen tenants thoroughly, negotiate a properly executed lease, deal with the possibility of late payments and evictions, and handle complaints and annoyances.  For those reasons, and many more, most homeowners who decide to rent their home rely on the services of a professional property management company.

“A tenant who looks good on paper can actually end up being the worst if not properly screened,” said Michelle Petersen, Broker-Owner of MPC Property Management. “It’s important to enlist the services of a licensed property management company to help find the ideal tenant, ensure the proper paperwork is drafted to protect all parties involved, and to take care of all the details associated with having a tenant”.

Homeowners that decide to rent their home will also need to keep detailed records of the income and expenses associated with the property to take full advantage of the tax benefits associated with owning a rental property. Professional property management companies use specialized software to report this information, and to provide required documentation for tax purposes. In addition to potential tax benefits, homeowners may be able to “cash flow” on the property if the rent collected exceeds the mortgage payment on the property.

Although renting instead of selling isn’t a solution for everyone, for those that can make it work, it opens up the possibility of riding out the real estate storm until the days of higher prices return.

Weak housing sales are turning a number of homeowners into landlords as they opt to rent their house rather than lose money by selling low in the down real estate market.

MPC serves the growing need for reliable, professional property management in Kenosha, Milwaukee, Racine, Rock, Walworth and Waukesha counties. Years of experience in property management and real estate investing gives MPC a unique advantage that allows them to serve their clients with proven techniques to maximize the profit and potential of their investment.

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Wisconsin’s current real estate market is experiencing difficult times much like the rest of the country. There is a tremendous increase in competition when selling a home in Wisconsin, due to the increased number of short sales and foreclosures. In 2009, there were 35,000 filings for foreclosures in Wisconsin. That is an increase of 190% since 2007, ranking Wisconsin #19 of states with the biggest issue with foreclosures. Currently, buyers in Wisconsin’s real estate market have the advantage. Home prices are still falling and many homes are selling at a loss. Buyers have become more particular and no longer have to look past a home’s minor flaws. It seems like Wisconsin home owners have to put their house on “clearance” just to draw some attention. However, the other option to selling a home at a loss is turning the home into a rental and selling it when Wisconsin’s real estate market recovers.
Renting your home until the market stabilizes can save an owner from taking a loss when selling. The increased number of foreclosures, as well as, banks tightening the requirements on mortgage applicants has significantly increased the pool of renters. There is a growing demand for single family homes. As a property management company in Wisconsin, we have witnessed the increase. Daily, we receive calls from families inquiring about the availability of single family homes for rent. Transitioning a home that isn’t selling into a rental ensures the home will remain an investment, as you originally intended it to be. However, transitioning a home into a rental is not a simple task; it brings an owner a new list of responsibilities, regulations, and time commitments to consider.
As a property management company in Wisconsin, we have seen the good and bad of renters. There are many issues a new landlord must be aware of and prepared to handle. It is crucial that the owner of a rental property knows how to properly screen tenants so they acquire quality tenants that take care of the property and pay rent in a timely manner. This includes more that just checking the applicant’s credit. Background checks, rental history, and income qualification also need to be analyzed. While doing this, Landlords must also be aware of discrimination laws while acquiring and screening tenants and properly comply with them. Creating and enforcing a rental agreement or lease that is pertinent to the home owner’s property is another crucial step. These are just a few of the many issues a new landlord would face. For these reasons and many more, it is highly advised a home owner team with an experienced and trustworthy property manager when transitioning their home into a rental property. Property managers do everything form advertising, screening applicants, creating and enforcing leases, showing properties, collecting rent payments, and making sure the property is properly maintained. Property management companies are needed to make the transition from home owner to investment property owner smooth and successful. MPC Property Management is located in Burlington, WI and covers Kenosha, Racine, Rock, Walworth, and Waukesha, WI. Please visit us at http://www.mpcpm.com for more information.

Owner Portal: 24 x 7 Online Account access

• Update contact information
• Real-Time threaded conversations with property managers with email alerts 
• View and approve work orders 
• View bills and attached invoices
• Access owner statements
• Make electronic contributions to the portfolio balance
• Run real-time reports
• Access shared documents

MPC Property Management is now a proud member of NARPM. The National Association of Residential Property Managers (NARPM®) is an association of real estate professionals who know first-hand the unique problems and challenges of managing single-family and small residential properties.

Lake Geneva, Wisconsin has a history of being a holiday destination. Whether it is a weekend getaway, family vacation or a romantic couples retreat, Lake Geneva offers plenty of diverse activities to satisfy everyone’s vacation needs. Golf courses, water sports, nature walks, beaches and fantastic dining are all within a few minutes drive from each other. Because of the endless activities and scenic location, Lake Geneva retains a great reputation and has become a playground for Chicago residents. As a result, there is a continual demand for rental properties in Lake Geneva, developing into an ideal location to transition your vacation home into an income generating property. However, in order to make your vacation home a successful vacation rental there are many factors to consider beyond booking guests and collecting payments. Maintaining the property, tending to guests needs and housekeeping are also necessary to guarantee success. These tasks can be extremely time consuming for the owner of the property, especially if they do not live in the area. Therefore, the best way to ensure a smooth and successful transition from vacation home to vacation rental is by teaming with a trustworthy local property management company.

Managing a successful vacation rental requires much more than booking guests and collecting payments. When transitioning from a vacation home to a vacation rental, a local property manager is necessary to handle the day to day activities an owner can’t be present for.  Providing a high level of customer service and delivering a flawless property, is necessary to give guests a great experience, to guarantee repeat business and most importantly to earn a profit. Expectations for vacation rentals are high and few of those amenities you may be willing to live without, a guest will be expecting. There are various housekeeping tasks which must be completed quickly including a cleaning of the house, grounds and appliances, as well as proper laundering of all linens. Turnover can be frequent and immediate for vacation rentals especially in Lake Geneva’s busy summer season. Having an efficient system in place, and a property manager to ensure the quality of work, is necessary.

In addition to tending to the property’s needs, there is a high level of customer service required to guarantee the success of a vacation rental. A property management company can answer any questions the guests may have and help your guests enjoy their vacation by offering suggestions and local information during their stay. Having a local property management company to tend to all the guests needs saves the owner time and stress.

There also the direct benefits that a property manager brings to the owner. They are available immediately to handle any requests from the guests or emergencies at the property. They will ensure the property is safe by checking that all gas appliances are off, electric and water are not being wasted, and the home is properly secured upon departure by a guest.

Transitioning your Lake Geneva, WI vacation home into a vacation rental can seem overwhelming initially; however, when teaming with a local property management company you can guarantee it will be smooth and successful. Quality control and excellent customer service is crucial in a tourist area with the expectations brought by Lake Geneva’s reputation. Teaming with a local property management company will ensure that your property is not just a place to stay for your guests but a destination itself that they want to continually visit.

Investing in real estate can be a very profitable and great way to build your wealth. Southeastern Wisconsin’s market is very stable and a great place to invest in rental property, although, being a landlord can come with headaches. This is where many turn to a professional property management company to handle the day to day operations of the property. Choosing one will be one of the most important decisions you make in your real estate ventures. Wisconsin is where our property management company, MPC Property Management, manages properties, and these are key areas you should consider when choosing one.

1) Make sure they are licensed. In Wisconsin, a property management company must be a licensed real estate broker. If they are not, they should not even be offering these services.
2) Make sure they have a real estate trust account for third party funds. They will be handling yours and tenants monies and are required to have a trust account that can be audited by the State of Wisconsin.
3) Make sure they are insured. A property management company should be listed as an additional insured on your policy and also have a general liability policy of there own.
4) Make sure they have an automated bookkeeping system, that it is backed up, and that you will have timely access to this information.
5) Make sure you check references. Any reputable property manager should be willing to share references with you to contact.
6) Make sure they properly qualify tenants. Do they check their credit, criminal records, income qualification, etc? You do not want unqualified tenants in your properties. Evicting tenants is much more expensive than doing the proper work upfront to find a qualified one.
7) Make sure they are professional and business like in both appearance and mannerism. They will be representing both you and your property.
Make sure they do scheduled inspections, both interior and exterior. Inspections insure the property is being properly cared for, tenants are obeying the rules of the lease, and can prevent problems from growing out of control. They will also help you budget for future repairs that will be needed.
9) Make sure you fully understand all their fees. There is typically a tenant acquisition fee and then a monthly management fee. Ask how their maintenance and repair labor is charged and also if they markup sublet vendors invoices.
10) Make sure you review their lease forms and verify they address specific terms important to you. For example, pets, yard maintenance, and smoking.

We have taken over many properties in Wisconsin where the former property management company did not meet many of the above items. These have become our best customers because they know what it’s like to not have a property managed properly.

MPC Property Management services Kenosha, Racine, Rock, and Walworth counties, including Lake Geneva, Kenosha, Racine, Burlington, and surrounding areas. Please visit us at http://www.mpcpm.com.

Author information: Bernard Petersen is the Operations Director at MPC Property Management LLC