Tageffective property management

Property Management Franchise- Is the Investment Really Worth it?

One of the best ways to build a successful career in this industry is with a property management franchise. Even though it won’t give you complete autonomy, many will argue that the benefits outweigh the cons. Here are a few of both, and we’ll leave it up to you to decide. Pros of a Property Management Franchise Brand Name- Companies like McDonalds are still around because they allow customers to...

5 Tips for Scoring the Investment Property You Want

As a residential property manager, you dream of finding an investment property with this much allure. You want it. You have to have it. It’s a cute, single family home on a big corner lot. Recently updated it even includes an entirely new kitchen. If you could add that property to your portfolio you just know you’d have potential renters beating down your door. 1 – Winning When the...

Need More Online Presence? Yelp for Help!

Though you are probably familiar with the impact of social media on property management, you may even know what Yelp is, but did you know that it can be used to boost your business? It’s important to note that over 132 million potential clients are on Yelp each month to determine whether or not they will use a certain business. This includes yours. With over 57 million reviews currently floating...

Where To Invest? The Pros and Cons of Rural Property

When you think about investing in a rental property do you dream of wide open spaces, big red barns, and calling the cattle home? Investing in a rural property or tract of land might be the right choice for some investors, but there are pros and cons about purchasing property somewhere with more trees than people. The Good Possibility of future development Every suburb of a major city was once...

Where to Invest? The Pros and Cons of a College Town

Are you the right kind of landlord for a real estate investment in a college town? You’ll need more than school spirit to profitably house college students, but investing in a college town may be a perfect choice for the active landlord who can handle a certain amount of wear and tear due to youthful exuberance. However, for a landlord who prefers a more passive role in property management...

8 Overlooked Tax Deductions for Property Managers

Whether you own a large multifamily property management company or simply rent out a single investment property, there are tax deductions waiting for you to take advantage of. Most landlords realize that some of their property management expenses are deductible, many are leaving money on the table by failing to use tax rules to their full benefit. We’ve compiled a list of  overlooked tax...

Social Media Strategies for Property Managers: Social Listening

Check out the first post in this series here. If your property management company maintains an active social media profile (which you should be doing), you already know that social media requires regularly posted content. You’re probably comfortable with talking online, but are your listening skills holding you back from making the most of your web presence? At its most basic level, social media...

Communication 102: Mediating Disagreements Between Neighbors

Last time I lived in an apartment complex, my landlord asked me to do something weird. He called out of the blue and said “Hey I know this is kind of a weird request but I’ve had some noise complaints about your unit and I think this is the best way to handle it.” My confusion was immediate and I started to sweat from the anxiety of worrying how I could possibly be making enough noise to bother...

Convince Residents that Renter’s Insurance is a Must

We’ve already covered some reasons why renter’s insurance is a good idea for residents and property managers alike. But how do you convince your tenants to pay for and retain a policy that many people assume is expensive and unnecessary? Be a myth buster Many renters have more than a few misconceptions that keep them from purchasing a renter’s insurance policy. Knowing which myths are most...

Safe Holiday Decorating Tips

I was 19 and decorating my first apartment for Christmas and I had my heart set on a real tree. I checked my lease and there wasn’t a rule against live trees inside, so I picked one out and brought it home. My roommate and I threw a holiday party that year and invited our friends to make ornaments for the tree with colorful paper, glitter, and other tools commonly found in the elementary...

Communication 101: Skills for Handling Resident Disputes

As a property manager, you work as a mediator between property owners and tenants, and need highly developed interpersonal skills to represent each party’s interests as well as your own. The ability to communicate clearly, to assert your needs and desires, and to say “No” with confidence, are hallmarks of a successful business leader. Mastering effective interpersonal communication takes...

Social Media And RentPost = Generation Y

There is a lot of talk about appealing to the “millennials”. That sweet spot Generation Y crowd, the renters between ages 20 and 30. There are a variety of things that this particular generation is looking for- much more than just crash space, they want units that are as connected and trendy as they are. Appealing to them will require that you be the same. This demographic is very...

6 Ways To Prevent Problems In Rental Units

Sprucing up your rental units isn’t all that different from taking care of your own house. You want to make sure that all the little details are attended to before they end up becoming big problems. Of course, a regular walk around and routine inspections can help, but also, if you take care of these 6 things while they’re small issues, they never really need to become big problems at...

3 Reasons You Need Renter’s Insurance

While there may be many disputes between a landlord and the potential renter, purchasing renters insurance should always be an agreement. Not only does it keep the renters possessions covered in situations but it also keeps the landlord safe from lawsuits as well. Here are the top 3 reasons why renters insurance is the best way to keep all happy and covered. Thefts and Burglaries. As the renter...

Rejecting a Rental Application

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 in different ways, depending on the situation. Some might choose to send a reason...

Management Fees You Should Know About

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...

Property Management Tip: Owner’s Statement?

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.

One Thing You Should Never Ignore in a Rent Roll

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 roll can help you not only keep things in order- but it also allows your tenants much more security in...

How To Create a Craigslist Rental Listing

You probably already know that using Craigslist, Zillow, and Trulia are effective ways to advertise your rental listings. However, how you present your property on there will make a big difference. You want your ad to be effective in attracting the kind of tenants you want, while also saving you some time in the prescreening process.

Are Your Properties Winterized?

As fall begins to blanket the country, temperatures are dropping. It is the time of year to make sure all of your winterizing is complete before it becomes too late. The last thing you want to do is fight the weather as you try and winterize your properties. There is only so much that your tenants may be responsible for and it may not be a bad idea to make sure everything is ready. What are a few...

The Frugal Landlord: Reducing Maintenance Overheads

As a landlord, you want your property rental business to run as smoothly as possible, and avoid any unexpected costly surprises along the way. One unfortunate overhead that plagues every landlord are maintenance costs. They cannot be avoided, and really can cost an arm and a leg when something drastic goes wrong. Imagine burst water pipes flooding the ground floor of a family home, or a boiler...

Evening Reads: Effective Property Management

Are your management fees appropriate? Here are some tips for effectively setting management fees. Make your property management company findable to the uprising in new property investors; check it out here. Here are some things property owners consider when choosing a property management company Tenant marketing and retention, both critical to effective property management. Understand the...

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