While some prospective tenants fall in love with your property immediately, most approach with a bit more caution. They will ask a lot of questions, including some that may deviate from the standard script. These renters have typically done their homework about the neighborhood and community, and they require a bit more assurance before they will sign a lease. However, cautious prospects often make very good renters because of their attention to rules and details, so be patient with them. (more…)
The explosion of software apps has made property management infinitely more efficient, accurate, profitable and even enjoyable. Many of the headaches and hassles traditionally burdening property management professionals have been solved in the cubicles and break rooms of today’s industry-leading software companies. (more…)
While other industries adapted quickly to online payment systems, many property management companies still insist on paying and receiving money with old-fashioned paper checks. However, as more millennials – some of whom have never even written a check – move into apartment communities, wider ranges of payment options have gained traction, especially because online payment systems deliver so many other benefits, among them:
- Offering tenants a welcome convenience
- Reducing late rent payments
- Slashing time spent processing payments
- Simplifying the accounts payable and receivable processes with vendors and owners
You have overcome the first hurdle of property management by attracting high-quality tenants. Congratulations! Now, you approach the second and possibly most difficult hurdle: retaining quality tenants in your property after they sign the rental agreement. What positive steps can you take to ensure that your rental property tenants remain satisfied?
Read on to discover some of the possibilities. (more…)
We’ve all heard the dreaded “The check is in the mail” line on rent week. It is so cliched, that it is cringe worthy, but sometimes true. Even the most reliable tenant forgets or experiences tight finances, necessitating a last-minute dash to the post office or to your office to pay rent on time. Unfortunately, that is not the end of the most hectic week of the month. The hours spent logging the checks and making the trip to the bank for the deposit – and you’ll be lucky to do it in one trip – adds unnecessary strain to your busy life. With broad and easy access to technology, a better way exists for both you and your clients. Switching to an online rent payment system can be a scary proposition, but the payoff in time and money is well worth a little effort in the beginning. (more…)
You’ve done all the right things to attract a good prospect and bring them to a leasing decision. But somehow, they drift away before signing on the dotted line. It happens to everyone, sometimes for reasons that can’t be avoided. But on certain occasions, the lease could have been saved if things had been done a bit differently. Let’s look at some key ways to improve tenant retention: (more…)
Are your rental strategies attracting and retaining tenants, or driving them away? Learn how to attract new tenants and improve tenant retention by implementing these three savvy rental property management strategies: (more…)
How many excuses can be eliminated when you accept online rent payments? “62 percent of Americans have less than $1,000 in their savings accounts, and a third of those under-savers have no savings account at all.” Go Banking Rates When you accept rent payments online, you can eliminate many common excuses for late rental payments, reduce your financial stress, and reduce your need to pursue tenants with legal action.