TagProperty Management

TWiRP- December 3rd, 2016

Climate Change Could Swamp East Coast Real Estate Rising sea levels are changing the way people think about waterfront real estate. Over the past five years, home sales in flood-prone areas grew about 25 percent. This has made state lawmakers in Massachusetts and New Jersey to begin pushing to impose new rules on real estate agents and others, obligating them to disclose climate-related damage...

Rental Property Management Software- Your Missing Link in Productivity

Rental property management software probably isn’t at the forefront of your mind when you have a small operation. You’re probably focusing on scaling up your business, keeping customers happy and training your staff. But as you grow, a great software program will become more and more important. When I was a project manager for the military, I’d essentially be in charge of...

What Kind of Home Property Management Do You Need?

Just as every property is different, every investor’s home property management needs are different. For example, someone who just has 1-2 single family homes for rent needs something different than someone with fifty. Investors with apartment complexes likewise need other things than someone renting out their high-end condo downtown. To help you decide what kind of service you need, here...

Developing Property that is Environmentally Threatened: Property Management for the Extremes

As society lays stake to more and more land and continues to develop it for residential and commercial space, the availability of environmentally “safe” land becomes scarce. Sometimes high demand land and property exist in a region that is prone to natural disasters. For better or worse, this land gets developed anyway, but not without the consultation of property managment and  enviornmental...

What Makes for a Successful Property Management Career?

A successful property manager career doesn’t come easily. Those who have been in the trenches can tell you that it can be a very stressful- yet rewarding- career path. Here are a few of those things that make the job stressful, followed by the nicer things to look forward to. Working with Difficult Tenants and Clients This is perhaps the most stressful aspect of the job. You’ll get...

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...

Property Manager

The Advantages of Using Property Manager Software Owning rental properties is unbelievably rewarding. Real estate is just one of the few markets in which you can have total control of your working lifestyle. Currently, the markets are primed for you to take advantage of unprecedented real estate potential. But with great opportunity comes even greater responsibility. Your responsibility is to...

Mobile Home Park Management – 4 Tips to Maximize Your Investment

Mobile home park management is unique. Even though some aspects are similar to managing a group of single family homes or apartment complex, investors new to this niche will be surprised by a few things. The good news is by the time you’re done reading this article, you’ll be in less of a surprise regarding what to expect and do to keep the park running well. First Thing’s First The biggest...

How to Evict a Tenant

Having to evict a tenant is never fun… but it’s something every landlord has to do at one point or another. When you are renting out property as a source of income and building wealth, you have to remember that you have a business relationship first, and a personal relationship second. If your tenant isn’t holding up their end of the contract, you need to cut ties as quickly as possible. This...

Home Rental Services

Home rental services are here to stay, as they provide extremely valuable services to both investors and renters. Usually offered by property management companies, there are several reasons why you should consider using them- no matter which side of the fence you’re on. Benefits for Renters When you’re renting a home, you may be living someplace previously occupied by the owner. If that’s the...

Property Management People – Qualities of Every Great PM

What does it take for property management people to be the best? In other words, what qualities should PMs strive to improve, and should landlords/investors look for? Here are a few of the most important. Communication Skills Property managers need to have people skills. They should be able to read what other people are thinking and how they’re feeling during a conversation. PMs should also be...

Time Management Skills for Your Property Management—How to Create Habits that Stick

Your property management business is something that thrives on good time management skills, whether or not you realize it. How much you’re able to get done in a day, how well you do it, and the way you set yourself up for future tasks all affect your property management. Having proper time management skills involves creating habits that will stick with you and ones that you’ll use to help build...

What is Property Management?

Investing in real estate is one of the best things you can do with your money. Time and time again, it’s proven to be a sound investment for consistent cash flow- especially if you’re able to hold the property for a long time. But managing a lot of real estate can be a HUGE pain. Especially if you’re a new investor who is doing everything without a property management company...

Find the Right Property Managers Association for You

Property managers do well on their own, but they do even better when they can connect, learn, and invest together. A property managers association can provide these types of benefits. By being a member, they have access to the most current skills, professional certifications for their business, and access to continuing education credits. But how can you determine which property managers...

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...

Starting a Property Management Company? Some Things to Consider.

So you’re thinking about starting a property management company. You have the budget, tools, and resources you need. Maybe you’ve even decided to go into the business with a couple friends or business partners. Have you considered all the aspects of this here? Read on to find some things to consider before starting a property management company. Get Licensed!  When you begin to plan for your new...

Landlord Responsibilities to Tenants with Disabilities

The best property managers know how to provide exemplary service to all tenants, regardless of special circumstances. With senior housing on the rise, and an aging Baby Boomer population turning to rentals, property managers should be well-versed in the laws regarding housing for people with disabilities. The Americans with Disabilities Act (ADA) became the law of the land in 1990. The ADA is an...

Where to Invest? The Pros and Cons of Urban Markets

More and more Americans are migrating back to urban areas after a decades long trend of settling in the suburbs. According to Census Data, 2.3 million more people moved into one of the country’s 381 metropolitan areas in 2013 than during the previous year. As jobs and economic activity continue to grow faster in urban areas, metropolitan populations will continue to grow. Buying a rental property...

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 Investing in a Suburban Market

Love them or hate them, the Suburbs are an integral part to the American housing market, and despite the surge in urban living that accompanied the housing recovery, suburban sprawl and the dream of single-family living is far from extinct. If you’re considering the purchase of a single-family rental in a suburban market, here are some benefits and drawbacks to consider before buying that white...

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...

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...

Should E-Cigarettes Be Banned in Rental Housing?

We’ve talked about the benefits of instituting smoke-free policies in your properties and covered the specific reasons why smoking tobacco in a rental unit lowers the quality of life for residents and costs more money during turnover. As the percentage of Americans who smoke cigarettes continues to decline, many former smokers to turn e-cigarettes for a seemingly safer way to get a nicotine...

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