Property Management Software

  I am a longtime user of QuickBooks. I’ve used it for all my companies since 1998. This BLOG highlights the PropertyZar accounting software as it pertains to property management. QuickBooks – A Good Role Model As we designed PropertyZar’s accounting, we wanted to make it as easy as QuickBooks. But we wanted to include all the accounting features needed for online property management accounting software. QuickBooks and PropertyZar Accounting With so many landlords and property managers familiar with QuickBooks (desktop), we paid special attention to designing PropertyZar’s accounting so that any user of QuickBooks would be able to transition with no training required. Running Financials We made running financials easier as well. If there is one thing lacking in QuickBooks is that it was not designed for property managers. So tracking finances per owner, building or a single property was not as easy as it could be. PropertyZar accounting softwar...

  Hedge Your Real Estate Investments Real estate has been experiencing some phenomenal returns over the past several years. Even the stock market has been a long running bull market. Several factors play into this. Low interest rates as well as low inventory have benefited the real estate market . Anyone who has studied markets understand that is it certainly cyclical and understanding where we are in the cycle is an educated guess by some at best. It seems that investors are getting comfortable with higher risk and this long running prosperity. However, I would caution investors and “would be” investors to be aware of the eventual real estate market downturn . Look for investments that are not too sensitive to downturns. If you have been looking for investment opportunities, you no doubt have found it a bit harder to find the deals with highcap rates like there were a short few years ago. When 7 or 8 cap rates were more common in the past, investors are gett...

Raising rents is a question we see a lot. Should you or shouldn’t you. For those landlord’s or property managers that do raise rents, 2-4% seem to be the typical range. Good Tenants If you have good tenants who take care of your property, pay on time and all-around good tenants, raising their rent may push them to look for another place to rent. Finding new tenants, especially good ones, is a costly endeavor and may not be financially prudent for an extra 2 or 3%. Not So Good Tenants However, on the other hand, if your tenants are not the best, maybe it’s worth losing them if you raise their rents. If they stay, fine. You gain a little extra profit for the extra work they bring to you. Progressive Rent Increases Residential leases vs Commercial leases are different. Commercial leases are more common for regular rent increases, but not always. Many commercial leases include progressive rent increases stipulated. If you use a property management software...

PropertyZar vs Rentec – Over the past several months we have been receiving numerous inquiries on how we compare to Rentec. In the past, PropertyZar has been compared to some of the other larger platforms such as Appfolio, Buildium and Yardi. With the influx of inquiries for comparison to Rentec, we realized it was our pricing that is the basis for these comparison inquiries. While some companies intended to focus on small portfolios (typically fewer features), the genesis of PropertyZar was to provide a robust property management web application for large portfolios, but with an entry level price for the smaller portfolios. There is nothing wrong with targeting smaller, middle or larger portfolios. It’s just a company’s preference and the vision the founders have for the company. PropertyZar Vs Rentec Price Comparison   PropertyZar Vs Rentec Feature Set Comparison There are numerous features throughout PropertyZar. These features make the user experienc...

If you have been a landlord or property manager for any amount of time, you have experienced both good and bad tenants. We wish that all tenants would be great, but the fact is some are not. Warning Signs of Bad Tenants First, to help minimize the chances of getting a bad tenant, property owners and managers should always run the tenant background screening that is available in most online property management software . In addition to that, be sure t o follow up with checking references, past landlords and employers. This is not a guarantee, but it will help in the weeding out process. Here are some indicators that you are probably aware of: Difficult attitude and often threats or talk about lawsuits Regularly delinquent Leaves in the middle of the night Leaves the property in a mess It’s unfortunate that these people exist but you can be better position to handle these types of tenant behaviors. Attitude and Threats of Lawsuits Make sure you understa...

While all our previous BLOGs have been on topics that apply to every property manager or landlord, today’s BLOG is going to be about the latest release of PropertyZar and software business in general. The entire PropertyZar team has worked tirelessly on designing a new user interface, new features, bug fixes and overall better user experience. I want this BLOG to showcase their work and to provide an electronic form of a ‘pat on the back’. From The Beginning Our goal was to provide all the features of the most powerful online property management software to portfolios of all sizes. That means the property owner who manages 10 units can afford to have all the tools available as the professional property management companies have. Early Releases As with any new release, subscription-based software companies are always faced with the challenge of providing a minimum viable product (MVP) and what should be included in the MVP. If you are an astute reader of business, yo...

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...