Property Management Software

Location Doesn’t Matter Whether you own rental properties in California, Georgia, Oklahoma or Florida, storms are a normal part of our weather cycle. Along with these storms comes the fact of flooding. Flooding is a problem in every state across our country. When these storms and floods come, it only takes a few inches of water to cause damage to your investments. Education and Resources As property managers , it’s your responsibility to advise your tenants about flood preparation. You can find helpful hints about flood risks and preparation for your rental property from Floodsmart.gov website You can also send this link to your tenants for a guide to flood preparation . This guide is offered by FEMA. This guide includes statistics on flooding, warning signs for bad weather and preparing for emergencies. Knowledge and preparation will help ensure that your tenants stay safe as well as helping to protect your rental properties. Whether you are a pro...

The choices for multi-family investors continues to grow for 2019. Sure, there are concerns about higher interest rates, property values and high inventory but that doesn’t seem to affect the availability of capital sources. This is good news for property management companies. As the real estate market remains strong, more investors will rely on property managers and property management software to support their portfolios. Debt Funds There are several equity funds that are providing financing for developers by way of debt funds. These ‘bridge loans’ can go as high as 85% of the property value with competitive interest rates. Once the property has been completely leased, the developer can move to a more permanent type of loan. Interest Rates Even though there have been some recent rate hikes, rates are still considered low for traditional permanent loans. In 2018 Q4, Fannie Mae and Freddie Mac have been in the area of 4.25% – 4.50%. These loa...

  Is there any special way for property managers to handle multiple roommates per lease? Common Issue This is a common issue for landlords and property management companies . My first advice is to spell out the details of guests and roommates in the initial lease. Be upfront and make sure you specify all the details that you want up front. Ask the new tenants, do you plan to have frequent quests or visitors? Depending on their answer, you may want to include those individuals on the lease. Avoid Mistakes If it’s not in the lease, don’t make exceptions, unless you want to update the current lease. Make sure you are protected as much as possible. If the tenant falls on hard times and needs to bring on a roommate to help with expenses, make sure you are aware of it. You will want to have that roommate complete an application and go through the same background screening as everyone else. Screen them as if they are a new tenant for you. A good Property manage...

Moving to a new place is both exciting and tiresome. For some, it’s a big relief to finally find a new home and be part of a new community. How property managers and landlords reach out to new tenants during this transition will set the tone for future relationships. Here are some ideas to engage with your new tenants, after they have been approved and before they move in. Welcome Letter Send a welcome letter or email to your new tenant. The letter should include: A Warm Introduction - Include information that you deem important based on your property, community and facilities. Identify the next steps –things like setting up utilities, cable, internet,forwarding address etc. Provide company, contact emails, website links and phone numbers to assist the new tenant. Remember, they may not know the utility providers in that area. Tenant Tools – if you are using a property management software, more than likely you have a tenant mobile app. Include this fe...

Evaluating the right property management software can sometimes seem overwhelming. With so many options, how do you decide? The BIG Picture – It is important that you consider your business strategy when searching for a property management software. Whether you inherited a few rental properties, a real estate investor with multiple properties or a professional property manager looking to increase your portfolio of rental property owners. When you choose a software solution, there is time and effort involved for you to get “up and running” . You don’t want to change products because your business has out grown your current software solution. PropertyZar is not a “lite” application but instead is a feature rich solution for property managers and landlords. We are compared to products such as Appfolio, Yardi and Buildium. We do not compare to the smaller or freemium products. What does that mean? A common example is Accounting. While some vendors say they have a...