Duties to Their Clients at Minimum

“Fiduciary” is basically defined by Black’s Law Dictionary as a term derived from Roman law which means, as a noun, a person or legal entity, holding the character of a trustee, with respect to the trust and confidence involved as scrupulous good-faith and candor towards another’s affairs. A fiduciary also has duties which are described as involving good-faith, trust, special confidence, and candor toward another’s interests. Typical fiduciary duties are imposed on and include such relationships as executor, administrator, trustee, real estate agents, attorneys, and, of course, property managers. A person or company who manages money or property, i.e., the manager, for other people must exercise a standard of care in that the interests of the money or property owners are placed above and beyond those of the property manager. In some states, like California for example, a property manager is statutorily defined as an individual or entity which has the same duties as a trustee, i.e., a fiduciary.

The way I always explain it to clients, using my hands to demonstrate, is that my interests end at the top of my head (one hand at the crown of my head), but the client’s interest rise above and beyond my head and take precedent over my own (holding both of my hands above my head in a clasped position). Most people understand the gesture and comprehend that as a property manager and a lawyer my interests are much lower than those of the clients in our relationship.

Common Fiduciary Duties Owed by Property Managers

Since a property manager is a fiduciary they must act with the highest good-faith and fair dealing with respect to the owner’s asset, disclose all material information that may affect the owners decision-making with respect to that asset, and can’t in any way, shape or form act adversely to the owner’s interests. This may sound easy, but there are situations that arise that tempt even the best property managers to sometimes not act in their client’s best interests to suit their own self-interested convenience. Unfortunate as that may sound it happens regularly.

The following is a short list of some common sense duties, rights, and wrongs when a fiduciary relationship exists between a manager and an owner.

A manager should have a written agreement with their clients and may even be legally entitled to profit from services for which they provide to the owner, however, a manager may not secretly profit from this relationship. For example, a manager may charge an eight percent markup on materials and services provided by vendors to the owner’s property. This is legal and acceptable provided that the agreement between the parties is in concert with the markup. If this markup was not in the agreement then the law requires a property manager to disgorge or relinquish any and all secret profits derived from the relationship. There are so many possible examples of this, but a common one is a manager making a percentage profit on work and services provided to their clients but not disclosed; like a new roof, bathroom remodel, repairs to interior walls, etc.

A property manager is required to disclose any and all rental offers received along with documentation of those offers such that the property owner is well informed about all potential tenants. It is easy for a manager to fail to provide names of potential tenants that don’t necessarily qualify or are poor credit risks as this would involve more work for the manager.

A property manager is statutorily required to act for the sole benefit of the asset owner in matters that evolve from the relationship, whether or not those matters are seemingly insignificant or they are significantly material.

Information about a tenant whom falls behind on their rent must be immediately communicated to the asset owner. If your management company is using a software system that allows an “Owner Portal” then this information is readily available to see and anytime one has access to the internet.

Google Base Optimization For Online Merchants And Business Men

It was well – known with name of Froogle. If you have any product you can sale it online. If you use this service you will get more benefit like you should not have to waste your time after describing the product and showing in different way to the client if you will describe it online. And it is free too. Google tries to increase the usage of this service.

If you want to get improved results on the shopping search engines, try to optimize your service – you can post all your products with their detailed description and can find your listings on top with marketing it online.

There is a new chance for retailers who use online services to market their product or to sale them. It is also famous as the “Onebox” result. If you want to learn more about this enormous way to get targeted traffic to your site or listing of your products.

In recent times, Google has made more necessities on a basic level, but there may be added if your listings are within a specific product category:

o brand

o condition

o description

o expire date

o email-id

o image link

o link (on which you have described your product it should be site or listing of your product)

o price

o product type

o title

Reasonably, some merchants are disturbed with this. Since they have thousands of products which should have more detailed information, and some products should not have all of the essential fields (expiration date, for example).

Realty Vs Real Estate Vs Real Property

Realty and personal property terms have often been confused as to what they exactly mean. Here we will clear that right up for you. We will look at the terms personal property, realty, land, real estate, and lastly real property.

Let’s begin with personal property. Personal property also known as chattel is everything that is not real property. Example couches, TVs things of this nature. Emblements pronounced (M-blee-ments) are things like crops, apples, oranges, and berries. Emblements are also personal property. So when you go to sell your house, flip, or wholesale deal, you sell or transfer ownership by a bill of sale with personal property.

Realty is the broad definition for land, real estate, and real property.

Land is everything mother nature gave to us like whats below the ground, above the ground and the airspace. Also called subsurface (underground), surface (the dirt) and airspace. So when you buy land that’s what you get, keep in mind our government owns a lot of our air space.

Real Estate
Real estate is defined as land plus its man made improvements added to it. You know things like fences, houses, and driveways. So when you buy real estate this is what you can expect to be getting.

Real property
Real property is land, real estate, and what’s call the bundle of rights. The bundle of rights consist of five rights, the right to possess, control, enjoy, exclude, and lastly dispose. So basically you can possess, take control, enjoy, exclude others, and then dispose of your real property as you wish as long as you do not break state and federal laws.

Lastly there are two other types of property we should mention.

Fixture is personal property which has been attached realty and by that now is considered real property. So you would ask yourself upon selling to determine value “did you attach it to make it permanent?” The exceptions to this rule are the garage door opener and door key, these are not considered fixtures.

Tips for Choosing the Right One

Wading through all of the work from home business opportunities that exist today can seem like a daunting task for sure. There are many different ways to make money from home, but not all home base businesses are created equal. In this brief article, I’ll give you some tips for choosing the best home business opportunity and hopefully by the time you’re done reading it, you’ll have a better idea of exactly what to look for.

Before choosing a work at home business opportunity, you first need to decide what you’re looking for. Do you want a business that is totally Internet based? Do you want to have personal contact with people? Are you searching for something that allows you to work your own hours? How much startup capital do you have to devote to your new home base business idea?

These are all important questions that you must answer before making a decision on which home based business to start…

Once you’ve nailed these points down, you should begin evaluating different home business opportunity ideas based on the information you have. Obviously, you want to choose a business that will provide you with high earnings potential. Also, you should take risk into consideration. What is your potential risk for loss if you start a business and then end up failing? No one likes to think about this when they’re excited about becoming self-employed, but it’s something that is important to take into account.

Hopefully this short article has given you some good tips on how to choose the best work from home business opportunity. No one business is right for everyone, and each business has it’s pros and cons. Now it’s up to you to do the research and make the best decision for your particular situation.