Property managers have a myriad of day-to-day responsibilities, including everything from showing properties to ensuring that units stay in impeccable condition. Reporting is an aspect of the job that can be less exciting, but is essential for business growth. Generating timely and consistent property management reports isn’t just something to do in the off-season or when you have time. These reports will help you analyze how you’re doing on the ground, so that you can improve your property management systems. (more…)
Rental property management is a difficult job, but it can be made easier when the manager uses the proper tools. With good property management software in place, a manager can analyze property activities and determine ways to streamline maintenance processes and lower overall management costs. In order to utilize software to its fullest potential, it’s important to understand the ways in which costs can be lowered while still maintaining the highest possible level of service to tenants. (more…)
When you own a property management business, your work is about more than simply completing a job. As an entrepreneur, you pour your time, energy and talent into growing your business—and often work well beyond the typical 9 to 5 schedule. The business represents your livelihood, and its success impacts your ability to live a comfortable life, provide for your family and prepare for retirement. Your business is your nest egg—but is it protected? (more…)
When you’re managing properties, you’re managing some of the largest assets that anyone will ever own. According to the National Real Estate Investor, the property management role is now moving into one that focuses on strategy. Rental homes can generate a steady income for your business, but you need to manage them as you would manage a portfolio, studying and nurturing these investments. (more…)
It takes many hands to ensure property management on any level goes smoothly and efficiently. But too many cooks in the kitchen, so to speak, is not always a good thing. (more…)
Budget forecasting is one thing that many portfolio managers don’t often relish. Investors demand to see how expenses are tracking with the budget, requiring operators and third-party managers the often arduous task of crunching numbers and looking into that crystal ball.
Finding energy rebates and incentives may be akin to herding cats. If corralling these little critters that hold the key to lower utility costs and energy conservation were so easy, you can bet that everybody would be tending to them. (more…)