Property Management Software

Part of a property managers’ job duties is showing available properties to would be tenants. What a big waste of time is, is driving across town for a showing only to find the other parties are ‘no-shows’. When you set up the appointment for the property showing , be sure to get the mobile phones of all attendees. Also, be sure to set reminders for the showings. A good Property Management Software will have the ability to create appointments for showingsand set multiple reminders for all attendees. If your showing is a few days out, you should create a reminder by email and SMS for maybe 24 hours before. Then another reminder for 1 hour before the appointment time. Let’s face it, people are busy. Reminders are a good thing. The reminders should include the attendees mobile phone as well as an email address. Furthermore, the reminders should include the property address. If an applicant is running late, they can easily tap the provided mobile number in the SMS re...

The Fair Housing Act of 1968 and Americans with Disabilities Act of 1990 is a bit complicated for multi-family properties. If the laws are not followed, you could be faced with hefty fines. The FHA requires property owners to provide reasonable accommodations for individuals with disabilities to use their properties. According to the FHA, ADA and Rehabilitation Act of 1973 definition, accommodations range beyond having wheelchair-accessible entrances or sidewalks and van-accessible parking spaces. According to the FHA, Sect: 504 of the Rehabilitation Act of 1973, a disability includes“a physical or mental impairment which substantially limits one or more major life activity”. There are approx. 1 out of every 5 adults that have a disability based on their definition. The most common disability was mobility limitation. This is defined as serious walking issues or climbing stairs. Other disabilities include mental concentration, memory and vision. You may be surprised to know tha...

The property management industry continues to evolve in the expectations of what technology can provide. Gone are the days of managing properties with the pen and paper approach. The evolution of technology and the tech savvy ability of property managers, property owners and tenants has reached a level not seen before now. Expectations are high from everyone and the demand for speed and efficiency is no longer a luxury but a requirement. With the availability of “all in one” property management software solutions, property managers are adapting to the new efficiencies that such a software provides. Benefits of All-In-One Online Property Management Application Web based property management software allow for 24/7 easy accessfor everything the property manager or owner needs to manage their real estate property portfolios. No longer does the property manager need to drive to the office and start the computer in order to look up information or any other common task. With...

The management of real estate has long been known to be challenging. A good number of property owners have attested to this. It is by far one of the most challenging business ventures of today. But, the story is changing today. This follows the coming of software for the management of real estates. Over the years, countless choices of such software have been made available to members of the general public. This has made it possible for most managers of real estate properties to successfully manage their properties in the most convenient manner. But, numerous choices of software that are meant for real estate management are currently available. Each of the choices is associated with both pros and cons. For this reason, you have to make sure you choose software that is good enough to enable to manage your real estate properties in the most convenient manner while enabling you to achieve your desired management results. Is there such a thing as right software for the manage...

Questions about collecting application fees       As a property manager or landlord, one thing that you commonly do is collect application fees. Each state has different rules and laws on application fees, so you should know what your states requirements and limitations are. This blog is going to be a topic blog with more questions then answers. Why? Because there are so many variables that differ from one land lord to another. There is no one ‘right’ way of collecting these fees. Best time to collect application fees When is the best time to collect application fees for new rental applications? The property management industry is all over the place on this. Do you collect application fees before the applicant fills out the application? One good outcome using this approach is that you weed out applicants who are not really committed to your rental property. Collecting multiple applications per rental unit But what if you are in a hot market and a...

If you are a real estate property owner, you may or may not hire a professional property manager. Of course, if you manage your own properties, you can save the management fees that a property manager would charge. Those fees typically range from 8-12%. Even if you manage your own, it is best practice to calculate those fees into your financials from the beginning. How To Calculate Property Manager Fees So how do property managers calculate their fees? We know the % range but for what income accounts does that apply to? All accounts? Are there any additional fees? What about income accounts that are not subject to any fees? Can there be a minimum fee? What about a mixture of percent and a split? As you can see there are many ways to calculate fees for managing rental properties. Without an electronic way to track these, calculating fees on paper would be nothing less than a nightmare. Good Property Management Software A good property management software will do all these c...