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...

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...

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...

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...

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...

The Benefits of Smoke-Free Housing

Smoking has fallen out of fashion in the U.S. The number of Americans who smoke is at the lowest rate in over sixty years. According to the CDC only 18.1% of American adults smoke cigarettes, down from 41% in 1940 and 26% in 2000. Smoking is prohibited in indoor public spaces in 28 states, and banned in any establishment that serves minors in another 12 states. Following national trends toward...

Should You Accept Section 8?

Section 8 Housing Program; Good for Landlords? Having your property approved for Section 8 Housing can seem to be a lengthy and somewhat stressful process. There is so much paperwork and inspections to deal with, it can almost seem like it’s not worth it. But just like any other venture, there are pro’s and con’s involved. For those unsure of what the Section 8 Housing Program, or the Housing...

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...

Surviving the Turn: Can It Be Easier?

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, a landlord, or even a tenant, you have to deal with the end of...

Trust Accounting For Property Managers

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...

Use These Green Incentives Finding Resources

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.

Should A Landlord Incorporate?

Whether it be just a small amount of rental properties or a full sized property management company, the smartest thing you can do to save your assets is to incorporate them.

Taking Care of the Rental Move In Process

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 If your tenants never complete a move-in inspection sheet then you lose out on...

Should You Go Mixed Use?

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 cause of a fire or bug infestations. It’s better to be aware of what questions...

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