One of the worst hazards to navigate happens before a tenant even signs a lease: rejecting a rental application. If your pre-screening process is pretty stringent, this may not be as much of a problem- but, every now and again, it happens and handling it the right way is pretty important. Everyone deals with this […]
Industry experts say that many more Americans are opting for vacation rentals instead of hotels, and this is a trend that has continued to grow over the course of the last decade. In the past ten years, annual revenues for vacation rentals have hit around $26 billion and in the next few years, is projected […]
When I mentioned writing an article on Surviving The Turn, most people had visions along these lines: Or maybe even: Unless, of course, those people worked in property management. Surviving the Turn means something very different to most people than it does us, doesn’t it? Each and every year- whether you are a property manager, […]
I think it’s been pretty well established that investing in the rental market is a wise choice if you can get in on the right properties. Multifamily apartment complexes are typically easy to brand with all of their amenities included and usually, they already come with a reputation, be that for good or bad. Those […]
When it comes to selling anything, presentation is key. The same applies for renting out property. No one wants to rent a shabby apartment or house that looks like it needs more than just a little TLC. There are many DIY options for fixing up your rental that are budget friendly and just as effective […]
Mold is a common issue in many rental properties, especially in high humidity and flood areas. Depending on the state, there may be mold laws to adhere to when renting out property. While not all mold is toxic, some can cause health issues which is a liability and all mold causes damage to the property […]
And what you can do about it. Whether you’re the peppy office leader or the dour sort of middle management type: you probably know that staff meetings are an important mode of communication that can be used to deliver important information, motivate your staff, and get everyone on the same page. Your staff, however, may […]
When managing rental properties, pest control is vital to maintaining the value of the property. When left unchecked, pest infestations can cause a slew of problems. Not only is having a pest infestation unsanitary it can lead to legal issues if not handled immediately. While some pests are simply annoying, there are some that are […]
When you manage one or more properties, you want to cover all of your investments with insurance and warranties when it is in the best interest of the property. While it is usually required for a property owner or landlord to carry homeowners insurance on a residential property, you are not required to carry a […]
There are many perks to renting an apartment, one of which is the amenities such as the pool if the apartment complex has one. If you rent an apartment in a complex that has a pool, there are rules of etiquette you will want to follow to keep the pool a clean fun place. After […]
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 […]