Every rental property owner’s been there. The beginning of a new month, which means, all the bills are due. Also, the rents are coming in. This will include all sorts of things, from home owners’ association dues, to mortgages, to utilities that you cover. If you’re still shoeboxing it: this is nerve wracking and you […]
Property management fees are important and when we look at them, they have to be seen as with any other business expense. First, of course, as a property owner, you want to look at the types of services and the quality of those services provided- but also, have a broad scope of different property management company quotes. Bear in mind, when you hire a property management company- you’re hiring someone to take care of a really big investment for you. As such…don’t you think they ought to be seen as an investment, too?
Being a property manager means that you handle quite a number of individuals money. Rental payments, down payments, bill finances, and security deposits are all yours to maintain and keep track of. While opening separate bank accounts for each property may seem like an easy idea, balancing just one banking account can be a hassle. So why attempt to keep 20 or 200 of them balanced singularly? That’s where trust accounting comes in.
Renting an apartment isn’t just a solution for those just starting out anymore. Many people are still choosing to rent apartments even if they can buy a home of their own. This is due to the significant savings and perks that come with renting an apartment that you wouldn’t normally get when renting or purchasing […]
As a property manager you handle a large amount of money. A large amount of money that needs to be accounted for and distributed on a monthly basis. No matter if it is only one property or hundreds, maintaining accurate accounts of all transactions is key to fantastic property management.
Property managers have a ridiculous amount of paperwork to deal with on an almost daily basis. Especially if your company continues to grow and gain more clients and properties. Starting good organizational skills early on can save you a lot of issues and will be of huge benefit in the long run. While every person’s organizational skills and needs are different, there are a few good and simple ways to keep the massive amounts of paperwork in an easy to locate order. This holds particularly true of multi-family units, but is equally important with even your single-family units.
Working in single-family property management seems like it’d be easier: but it brings with it a lot of issues. When I speak to landlords and property managers, one of the bigger initiatives seems to be finding rebates and incentives towards improving the energy efficiency of the properties.
Every landlord and property manager knows that collecting rent can be a hassle. Luckily with systems like RentPost, your life is made easier. We’ve now gone one step further to make the process a little more protective during a potential eviction process. RentPost supports partial payments. We strongly believe that by allowing partial payments, not […]
Most of us know what a rent roll is and how to use it, right? You have the tenants name, contact information, maybe some emergency contacts and vehicles- but have you ever thought about one key aspect that could make things for both you and the tenant even more secure? Adding photos to your rent […]
There is a common thread running through people who achieve greatness. Alexander the Great and Robert E. Lee were the smartest military strategists ever, Muhammad Ali and Rocky Marciano were two of the greatest boxers in history and Wolfgang Amadeus Mozart and Ludwig van Beethoven were the most exceptional composers of all time. Their commonalities […]
When your tenants are in the process of finding a new rental outside your organization they will likely give your contact information as a reference to their next landlord, just the same as you would have gotten their previous landlord’s information. This is a chance to assist a fellow property manager by giving them an honest and professional account […]
Whether you’re simply considering renting out a property you own, or you already have an income producing property- one question you should be asking is, “Should I have my rental in an LLC?” There are a variety of reasons why, as a landlord, putting your property into a limited liability company is a smart idea. […]
Most property management companies that happen to do business in one of the states where marijuana has been legalized has likely come up against an interesting conundrum: Do I have to allow legal marijuana growing on my property?
While a roof is one of the biggest protection features of any home, it is also one of the most neglected. Rooftops receive a constant amount of pressure from storms to extreme weather, weight of humans walking about from cleaning out gutters, and trees and branches falling on them. Lack of roof maintenance may be […]
What features do Americans consider when it comes to describing preferable homes? IKEA thought it best to ask this of 4,000 Americans, between ages 25-54 with an income of $35k, to discover what they described as good homes based on their living habits. It is vital to know what people look for in prospective homes […]
Get ahead of the competition in the rental market by improving your selling skills. A little extra sales training can help beef up your lead-to-lease ratio, especially with the competition of so many housing options. Improve your sales, close more leases, and improve your rental income this year with these helpful tips. Enlighten your Audience […]
Dealing with the security deposit has always been a long hassle between landlords/property managers and tenants. Security deposits don’t always have to be a problem, this post gives advice to anyone who operates in the world of security deposits for rental properties and addresses some commonly asked questions. Know your State Laws It is important […]
Every rental property manager has encountered the problem of tenants leaving your property in what you would consider less than ideal shape. A good way to avoid this issue would be to create a checklist for your residents to know what condition the rental should be left in after their departure. When Tenants Move Out […]
What could be more appealing than an apartment building with the comfort of having businesses, stores, and offices right below it? A mixed use property offers exactly that. Offering simple and close commutes to work or the grocery store will likely keep your building occupied but can also add to the risk of being the […]
It’s a well known fact- if you want to save on your bottom line, you keep your tenants. One of the downsides of working in the rental industry is that it can ebb and flow quite a bit, causing a gap in between renters or tenants. With more and more places offering better incentives to move into their complexes, how do you improve your own tenant retention? What’s making them stay?
Hopefully, where you live, the time for spring cleaning is upon you. In many parts of the US, the weather’s still cold, even though it is March. During this time of year, you really find that the “property” aspect of property management becomes key. You may be looking to move some dead tree limbs, get rid of leaves and other debris, aerate your lawns and plant flowers. However, what if you’re looking for a much more efficient way to do your spring cleaning?