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EMPLOYEE IN THE SPOTLIGHT |  |
Our Employee In The Spotlight this month is Jim Lucas. Jim markets our properties to prospective tenants and also recruits new owners. Jim is in a unique position as he, at some point, meets all of our clients and owners. Click here to see more about Jim and the rest of the GPM Team. |
| IT'S TAX TIME!! |  |
It's that time of year where we file Tax Form 1099 for our property owners. If your address has changed since you filled out your Form W-9, you will have to update your paperwork. According to the IRS, the address on the Form W-9 must match the address on your Federal Income Tax Form 1040. Contact us if you need to update your paperwork. *** If the information on the Form W-9 and your Form 1040 do not match, we are forced to withhold 30% of income. *** |
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Greetings!
Happy New Year to you and your family from our family at Garner Properties & Management, LLC! What new year would be complete without a couple of market predictions? Below we present the short list of ours. We also discuss an interesting article found on www.money.com. Finally, the first deadline is coming up for property tax appeals. Contact us to get yours started. Don't leave money on the table. |
 | Market Predictions for 2011 | |
It's that time of year again where we make market predictions for the coming year:
1. The real estate market is expected to remain flat for the next few years. To that end, we expect the rental market to remain strong and see growth.
2. While initial rent fees will remain lower, we expect to be able to increase rates on a lease renewal.
3. We also expect to see an increase in lease renewals in the coming year as tenants settle in to their homes.
Do you have predictions for 2011? We would love to hear them. Send them to us via e-mail. |
| Fear Of Buying Continues | | An interesting article appeared on www.money.com on December 2 regarding the continued trend of home buying angst. Despite affordable prices and low interest rates, consumers are holding off on buying homes for various reasons. While this situation is keeping Real Estate Agents in the hot seat, it is good news for our property owners becuase it means more people are renting. It is also good news for our tenants because it means that you are not alone out there. Garner Properties & Management manages hundreds of homes in the tri-county area of Michigan - from full management to marketing only (Help-U-Rent) and we love referrals. See the coupon below for our special incentive for client referrals - both owner and tenant. Click here to view the article in its entirety. |
| Property Tax Appeals | By now you are aware of the Property Tax Appeals program we launched with The Law Offices of Aaron D. Cox, PLLC. If your property is located in the City of Detroit, your first deadline to begin the appeal process is Februray 2011 (March 2011 for most other cities). The appeal process can, in some cases, take years to complete, so don't delay. The cost of the program is $475 per property plus 25% of the refund amount. The complete program will take care of the entire process, including Broker Price Opinions (BPO's), fees, filings, and appearances before the Board of Review and Small Claims Division of the Michigan Tax Tribunal. To get started, we will need your notice of assessment, a copy of the deed for the property, a copy of any appraisal done in the last year, and brief notes on any special items related to the property. Call us today at 800-767-2386.
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Best wishes for your continued success with Garner Properties in the new year. We appreciate your partnership and look forward to continued growth and prosperity.
Sincerely,
Chris Garner
Garner Properties & Management |
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