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March 2010
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RENTAL PROPERTY MANAGEMENT DIVISION
Value Added Services

In a tough economy everyone analyzes their finances to see what they are paying for and if they can save money by doing things differently.  As a company, we are looking for ways to add value to our services so that property owners are getting the most bang for their buck.  Our answer is superior customer service and proven results.  When you contact us we answer.  Whether it is by e-mail or by phone you can always reach us and we will always respond to your needs quickly and accurately.  You will get sound advice and will carry out your requests in a timely manner.

The semi-annual surveys that we perform on the rental properties that we manage also add value to our services.  This is an easy way for us to keep up with preventative maintenance on the property as well as checking up on the residents to ensure that they are properly maintaining it.  This helps avoid costly repairs in the future and also gives us the ability to remove a resident from the property if they are not abiding by the lease contract.  This actually could save the investor money in the long run.  The investor also gets the peace of mind that someone is actually looking after the property.  Investors get a full report and color digital photos of each property so they can see how it looks.

The one mistake that a lot of property owners do is shop around and look for someone to manage their properties that have the lowest management fees.  In the property management industry the old saying “You get what you pay for” is really true.  Cheaper is not always better which is why we have tried to find ways to add value to the services we provide.  We are going to manage your property to the best of our ability while strictly adhering to state and federal laws and regulations.  Simply put, we do it right without cutting corners.

For more information about our value added rental property management services contact us at 704-970-4148 or Rentals@HendersonProperties.com.

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COMMUNITY ASSOCIATION DIVISION
Henderson Properties’ Community Association Insurance Program Off to a Great Start

The Henderson Properties Insurance Program is in its seventh full month and is indeed off to a great start.  Over 75% of our communities have chosen to participate so far resulting in over $95,000 premium savings for our communities.  There are many benefits to our program in addition to the premium savings.  The coverage enhancements include but are not limited to:

• Insurance Rates Guaranteed for 3 Years
• $2,000,000 Limit of Liability Per Occurrence
  • Most policies provide only $1,000,000 of coverage
• Blanket Property Insurance with no Co-Insurance Penalty
  • No more potential penalties for undervalued buildings.
• Directors and Officers Liability Coverage with FULL PRIOR ACTS
  • Most policies contain a Retroactive Date that severely limits the time frame of coverage.
• Water/Sewer Back Up Coverage Provided up to full Building Limits
  • Most policies contain a specific limit for this coverage, typically only $25,000 or less.
• Fidelity Bond Coverage Included
  • Typically, policies do not contain Fidelity Bond coverage unless specifically endorsed.
  • Our policy automatically has $25,000, and can be easily increased if necessary.
• Excess Liability Limits Available
  • $5,000,000 Umbrella Policy available at extremely low rates.  Higher limits available upon request.

We have partnered with Arthur J. Gallagher Risk Management Services to provide our program.  The program provides all Property and Liability insurance for Homeowner Associations, Townhome Association, and Condominium Associations.  This is strictly a Henderson Properties advantage and is only provided to communities managed by Henderson Properties.  For a free quote or for more information please contact your Community Association Manager and they will be glad to assist you.   Remember, it is never too late to sign up to begin saving money for your association.

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REAL ESTATE SALES DIVISION COMMUNITY ASSOCIATION DIVISION
FAQ about Short Sales

What is a Short Sale?

A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.

Why is the number of Short Sales rising?

Due to the recent economic crisis, including rising unemployment and declines in home prices in communities across the nation, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses.

A short sale can also be the best option for homeowners who are “upside down” on mortgages because a short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially.

If a Short Sale is something you are considering, you need an experienced Realtor®.

Here are some questions to ask:

1. Does the Realtor® have specialized training in short sales?
2. Does the Realtor® have experience with listing properties with short sales?
3. What kind of information does the firm have to help you determine whether a short sale is best and how to get the process started?
4. What will the Realtor® do to help you get your property sold?

Let us tell you how Henderson Properties would answer all these questions!  YES, we have extensive training in short sales.  All of our agents have received the National Association of Realtors® Short Sale and Foreclosure designation in addition to taking many other classes.

YES, we have many short sale listings and know how to work with the banks to get your transaction closed. We speak the language!  Using a Realtor® with limited experience can be the difference in closing your property or not.  Much of the work is done after the offer is received with the lenders!  We have a Short Sale packet that is given to potential sellers immediately.  We review this in depth with the client to determine whether they would potentially qualify for a short sale and prepare the client for the lengthy process.  Short sales are anything but SHORT!  We’ll even provide you with an extensive written plan that outlines the short sale process and what we are doing for YOU to get your home sold.

For the “1st timer” trying to buy a home you may ask “how do I come up with the money?” Now more than ever you have options! Use a government assisted program that requires no money down, borrow from a family member in some cases or simply cut down on your spending each month. Ask yourself if you really need to go out to eat or is basic cable enough? A home that is $125,000 may require only a down payment of $2500 or possibly less depending on the circumstance. Cutting back in spending each month will help you acquire this amount in no time. Persistence and perseverance is the key; make your goal and stick with it.

If you are interested in more information or just have a few questions you may call us at 704-544-0253 or email us at Sales@HendersonProperties.com We would love to be your Realtor®!

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PROPERTY MAINTENANCE DIVISION
Maintaining Your Investment

Henderson Properties is one of Charlotte, North Carolina’s most respected real estate firms. We are proud to offer residential maintenance services to the homeowners in our communities through the Henderson Properties Maintenance Division. Our commitment to our customers is to provide them with the best possible level of service, at a fair price. We have a passion for perfection.

We hope that you will let the Henderson Properties Maintenance Team be your proactive partner in handling your preventative maintenance and home repair. We offer complete and affordable maintenance and repair services through our own in-house staff and extensive contractor contacts. Our skilled technicians will provide friendly service, quality and value that can’t be beat, from a company that you know and trust. Let us work together to maintain and preserve the value, beauty, and safety of your home.

Here are just a few of the maintenance services Henderson Properties can provide for you…