Property Management Software

Are you managing real estate properties yourself? There are some things you can do to make this job less painful. If you are managing properties yourself, there are some things you need to know. There are processes, forms and paperwork that you will need in order to protect yourself. Start With Property Management Software This is a no brainer. A good property management software will end up saving you a lot of time & headaches with some of the tedious work that is involved in managing your properties. Property management software will also help protect you legally, should you ever need it. Consider some of these key features found in the top property management applications: Communication via email or SMS Log file of all past communications Tracking notes on tenants & properties Onsite property inspections (great for accountability) Document management Online rent payments Work order management (identify property abusive tenants) Accou...

Do you manage real estate properties with HOAs? Is communication with your residents something that is common for you? As 2019 begins, HOA board members should consider offering feedback on how the HOS can improve the community and make it a great place to live. Responsibility Tenants should take responsibility for abiding by the CC&Rs and staying current on their HOA fees. Violations of the rules or failure to pay the HOA fees/dues is not a win for anyone. HOA boards have a lot of power over the property owners. Sharing Tenants should have the ability to express their ideas, suggestions and their concerns in order to help improve the community and build lasting relationships. Residents are important in sharing the thoughts of the community. They should be included in the regular board meetings. Building Relationships Tenants should make an effort in participating in any events, social or cultural activities in the community. This gives t...

Many homeowners and property management companies do not consider home maintenance until something breaks. Is that the best way to maintain your investment? Whether you are a new landlord or seasoned one, you should establish some maintenance protocols. Here Are Some Tips For Protecting Your Investments: Establish A Home Maintenance Plan A good place to start is by establishing a maintenance schedule. A good property management software will assist you in creating reminders for asset maintenance. Things like changing air filters, water filters etc. You’ll need to plan on cleaning your gutters and trimming trees from time to time. Pest control is another item that is often overlooked. Depending on your lease agreement, you may need to spray or have ground treatment performed a few times a year. When it comes to assets such as appliances, make sure to send in any warranties and follow the maintenance recommendations in your owner’s manual. Upload the ...

All the talk about a 2019 downturn may end up being exaggerated, just a bit. There are some signs of a slight decline, primarily due to the uncertainty in the market. However, many of these are simply overblown. The economy’s fundamentals are strong and there seems to be a good amount of momentum. This is good news for property management companies. As multifamily real estate continues to grow investor’s portfolios, property managers should have a positive 2019. REITs This 2019 also is gearing up to be a positive year for REITs as well. Rising interest rates don’t affect the REITs like other sectors. Market Ups And Downs Experts are always trying to predict the next downturn. Recessions are somewhat predictable. Imbalances are one cause of recessions. The imbalances between supply and demand. Too much multifamily construction projects that exceed demand will eventually require a correction in the market. Too much debt also can be a factor in m...

The self-storage market has seen significant growth over the past decade. It seems Americans continue to collect too much ‘stuff’ that doesn’t fit into their homes. That’s all great for property management companies. However, the industry is changing. Increase Of Self-Storage Units There has been a significant increase in self-storage construction as demand has risen. With new construction comes the inevitable rent adjustments. Current storage unit owners are realizing that they are having to cut some rent to compete for business. 2019 is expected to see the same growth pattern, with more construction of more storage units. Even so, the occupancy rate remains very high because, let’s face it, we love our ‘stuff’. While new construction is taking place, all estimated new units will account for less than 10% of overall market. This is considered a development phase. With the increase in storage units, this will require property managers to maximiz...

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...

Since I am in in the property management software business, most all my blogs are related to property managers or landlords. However, this blog will cover a new federal program for real estate investors call Opportunity Zones. While it may benefit property managers or property management companies, it’s definitely geared towards real estate investors. With that in mind, read on! The Genesis Sean Parker, the co-founder of Napster (not part of the gold heist with Mark Wahlberg) worked with law makers on a new program call Opportunity Zones. The states governors are responsible for identifying low income census zones in their respective states. Today, there are approx. 8700 defined Opportunity Zones nationwide. The zones are geographical areas that have been designated as investment opportunities that will benefit the community as well as those investors who participate in the program. The program was created by the federal government in an effort to d...