Book:
Happy About Apartment Management: 30 Years of Expert Tips and Advice on Multifamily
Property Management
REAL
ESTATE can be a smart, lucrative investment, because it shelters property appreciation
from taxes while allowing owners to deduct interest and depreciation. In addition,
unlike financial investments, tax-deferred exchanges are common real estate trans-actions.
However, many investors ignore real estate because it requires daily management.
Still others invest in real estate and attempt to manage their properties themselves
to save on management fees.
Most of us have seen infomercials about achieving
financial independence by investing in real estate. During my years in property
management, I have seen many people build wealth by investing in real estate.
I have also seen time forgive some very poor real-estate investments, because
fortunately, most bad real estate decisions are forgiven as property values appreciate.
So, from my perspective, the key attribute to successful real estate investing
is longevitysurviving the period between purchase and sale, while the property
works to pay its way.
During the appreciation years, many real estate investors
realize how poorly prepared they are to manage property. They experience the enormous
stress from evictions because they have not developed appropriate credit-screening
techniques that identify potential deadbeats. They are 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 under-performing by thousands of dollars each month.
Westlake Realty Group, has successfully managed real estate for over 30 years.
They've dealt with a number of issues discussed above and can help you avoid them.
You'll find this book a helpful and informative introduction to the fundamentalsand
complexitiesof property management.
Additional Endorsements:
"I
have had the opportunity to read 'Happy About Apartment Management' and found
that 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. It sets
out a template for screening, collections, and the necessary forms required to
manage an apartment complex. A great reference guide. " William
Perry, Vice President - Regional Director First American Title Insurance Company
"This
book provides a head start for apartment owners who want to learn from 30 years
of experience." Kyle R. Klopfer, CPA - Klopfer & Associates
"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. It will quickly become an
essential reference book for the industry. I strongly recommend it." Stephen
A. Cowan, Partner, DLA Piper
"It is clear
why Westlake Realty Group is so successful, they pay attention to every detail
and have created apartment communities that are more than just lodging, but create
a quality lifestyle. Great advice from experts!" Kevin F. Kilty,
Vice President JD, ARM UnionBanc Insurance Services, Inc.
"I
wish I had read the 9 Keys to Credit Screening before renting my property"
Amalia Gaiotto, Rental Property Owner"
"I
have worked with Westlake for over 12 years on various real estate matters. I
found them to be extremely competent, knowledgeable and easy to work with. I would
not hesitate to recommend them." Ed Lok, Managing Director, Citigroup
Private Bank
Paperback:
$19.95 (with 15% discount only ($16.96)
eBook (pdf): $14.95
(with 20% discount only $11.95)
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Back Guarantee
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If you're not satisfied with the book you receive, please let us know within 60 days of purchase and we'll refund your money.
Happy About Apartment Management
30 Years of Expert Tips and Advice on Multifamily Property Management
by Robert W. Klag, Gemma G. Lim, Steven, M. McDonald, M. Gary Wong
Praise
for "Happy About Apartment 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." Dr.
Dolf de Roos, Real Estate Investor and author of the New York Times bestseller
"Real Estate Riches"
"'Happy
About Apartment Management' provides an easy-to-read, concise, and pithy guide
by one of the most innovative and technologically savvy leaders in the apartment
management business. This type of wisdom only comes from the best and the brightest." Kenneth
T. Rosen, Chairman, Rosen Real Estate Securities
"As
attractive and profitable as property ownership can be, managing real estate isn't
an occupation to be learned on the job. This book offers balanced advice to the
real estate investor, shedding light on both the legal and practical aspects of
marketing your property, finding and retaining great tenants, and hiring a trustworthy
real estate manager." David Tripp, CPM®, 2007 Chapter President,
IREM-San Francisco Bay Area Chapter #21
"Westlake
Realty Group is a property management company that understands the owner's perspective,
that is, maximizing value and minimizing liabilities and expenses. Westlake not
only 'gets it' but equally important, also they get it done. Their advice is invaluable." Victor
B. MacFarlane, Managing Principal, MacFarlane Partners
"Westlake's
book provides the reader with a comprehensive treatment of property management.
More than simply a collection of forms, the text is a business guide to dealing
with the common problems of managing a multifamily rental property. A must read,
especially if the property is owned by a trust and you are the trustee." Bruce
F. Anderson, Chairman, First Republic Trust Company
"Westlake
Realty Group's vast experience in property management and their success speak
for itself. 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." Gino Blefari, Founder, President and
CEO, Intero Real Estate Services
About the Authors
Robert
W. Klag
Robert
W. Klag, CPA, Chief Executive Officer Robert Klag brings more than
25 years of management experience and strong operational leadership to Westlake.
Prior to joining the company in 2003, he headed financial operations at PrimeSight,
a national healthcare provider, and led a team that successfully enrolled 200,000
subscribers in two years. Mr. Klag has also been senior vice president of finance
and treasurer at National Insurance Group where he helped build the company into
a national provider of specialized risk management and outsourced service products.
Earlier
in his career, he was with KPMG LLP and General Electric. As Administration Manager
for General Electrics Canadian Mineral Operations, he managed real property
holdings, reducing fixed operating costs by more than $1 million per year.
Mr.
Klag holds a B.S. in economics at the University of California Riverside and an
M.B.A. from the University of California Berkeley. Mr. Klag is a certified public
accountant, and a certified management accountant. He is a member of the California
Association of Certified Public Accountants, the American Institute of Certified
Management Accountants.
Gemma
G. Lim
Gemma
G. Lim, Director of Business Development Gemma Lim joined Westlake
in 2002. She brings more than 12 years of experience in advertising, branding,
market research, and marketing strategy to Westlakes corporate marketing
and business development activities. Prior to Westlake, Ms. Lim was an account
manager at an international HR consulting firm and generated 45% of the firms
revenues. She also managed marketing projects at Unilever Bestfoods and DuPont
Inc. where she successfully developed and implemented high impact, low budget
marketing promotions.
Earlier in her career, Ms. Lim was a treasury manager
for J.G Summit Holdings Inc, a $2.4 billion global conglomerate with major real
estate holdings. In this role, she established treasury systems in two key cities
in China, approved all financial transaction, and monitored land values for the
companys commercial property investments.
Ms. Lim holds 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 (BOMA), The International Council
of Shopping Centers (ICSC), and various Chambers of Commerce.
Steven
M. McDonald
Steven
M. McDonald, CPM®, Vice President & General Manager, Residential
Properties Since joining Westlake in 2004, Steven McDonald has developed and
implemented policy and procedure improvements, increasing occupancy rates as well
as maximizing top-line revenues and net operating income. Prior to joining Westlake,
Mr. McDonald had more than 20 years of experience directing federal and state
subsidized housing programs and in managing conventional market-driven rental
properties. Mr. McDonald has been involved with a number of California non-pro?
t organizations including First Community Housing, Housing for Independent People
(HIP), Community Housing Developers (CHD), Soledad Local Development Co. (SLDC),
and Catholic Charities.
Mr. McDonald holds Housing
Credit Certified Professional (HCCP), Certified Occupancy Specialist (COS), and
National Compliance Professional (NCP) certifications. He is a graduate of San
Jose State University, has a California real estate license, and is a Certified
Property Manager (CPM®) through the Institute of Real Estate Management. Mr.
McDonald serves on the Board of IREM-SF as vice president of membership.
M.
Gary Wong
M.
Gary Wong President, Westlake Development Partners and Westlake Realty
Advisors Mr. Wong joined Westlake in 2002 and has served as CFO, COO, and president
of the Chang Family Office. His current responsibilities include overseeing Westlakes
real estate portfolio and developing the companys land holding. Mr. Wong
has extensive experience in finance and the capital markets, serving as senior
vice president for corporate finance at Wedbush Morgan Securities for 15 years
and as a vice president at the Bank of America for six years.
Mr. 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
(BOMA), 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.