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Important Marketing Tips for Small Property Management Companies

Thursday, April 5, 2018

As a home rental property management company, you're going to have a lot on your plate. You're going to have to be able to handle renters, brokers, and other things that come along with being a property manager. While all of this may force you to think that these are the only ways to help you be successful, you need to consider marketing.

Home rental property management marketing is extremely important. Not only does it help get your name out in the open, it can even help your company become a household name. In order to do this, there are few things that you can do. Let's take a look at a few of them.

First, it's important to advertise. If you don't have your label on radio and TV ads for name recognition, Magazines and HOA newspapers, how is anybody really going to know about you? Taking the time to find places where your ideal target audience is looking for information and hanging out. a logo and a great billboard image can really help get your business on the right track. People who see you in multiple medias remember your name for some time to come.

Next, don't neglect the digital side. You can easily send an email blast to any real estate agents, housing industry vendors, or brokers you may be trying to work within the future. It won't take a lot of time, as you're sending one mass email to a large number of people. You can even send an email blast to potential renters as well. Make sure that if you do send potential renters a recurring email, that there is an opt-out option at the bottom of the letter. They will be more likely to turn to you when looking for houses for rent or property for rent if you aren't bombarding them with information.

Finally, if you don't like the idea of sending rental management information via email, send potential clients a greeting card! People love getting cards in the mail, and if you show that you took the time to personally send them a letter, they will see how interested you are in working with them. It shows that you're a serious individual who is willing to take the extra step.

By following the above, your home rental property management name will not only travel throughout your community but others as well. Do what you can to get your name out there, and make connections wherever you go. The U.S. home ownership rate was approximately 63.7% in 2016, and you can be a part of the group that helped with those homes just by following the above suggestions.

If you have any questions about property management services please give us a call at 407-261-5610

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What to Look for in a Property Manager

Thursday, April 5, 2018

If you are a landlord and are thinking about branching out, you may have considered hiring a professional property manager. A property manager can connect you with people all across your area, help you out with things around your property for rent, and many other tasks.

Of course, you want to make sure you're finding the right people for the job. This is completely normal and it is crucial for you to ask your potential property manager some questions. Let's take a look at a few potential questions you could ask before settling on one property manager.

How Busy Are You?

One of the most important questions to ask a potential property manager is how much work they've already been taking on. If they have a full workload and then some, there's a good chance they might find themselves extremely distracted by other things. If they're too busy, you might want to consider going with someone else. You need to have somebody who can focus heavily on your property for rent. Hiring a person to take over rental management is a big commitment, and you want to make sure that you won't get stuck doing the work you're paying someone else to do.

Where Are You Located?

If you do not live near your property for rent, it's important for you to find a property manager who does. The rule of thumb is if you live over 50 miles from your units and have more than one property for rent, you should consider hiring a property manager who is local to your properties. The property manager will be in the area at all times and will be able to do the things that you are not able to take care of. This is especially great in case of any emergencies.

How Have You Helped Past Clients?

Find out what skills and abilities the property manager has before taking them on. Talk to them about previous clients and see what work they were able to do successfully. Have them give you some examples and show you some of their work. You want to make sure you're getting the best person for the job, so it's important to ask these experience-related questions.

Hiring a property manager can help you save a lot of time as a landlord. However, it's important to make sure you're getting the best person for the job. Considering that in 2016, the average price of a new home in the United States was over $372,000, it's important to protect your bigger assets. Make sure you ask the questions listed above before taking on a property manager to find out if they're the right person for you.

If you have any questions about property management services please give us a call at 407-261-5610

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3 Cardinal Rules of Effective Property Management

Friday, March 30, 2018

Deciding that you want to buy a home and rent it is a huge decision. Not only is home buying itself incredibly complicated, but the ongoing management of investment properties comes with its own set of challenges. Done well, investment properties are well worth the investment. Thanks to a growing economy and a stable housing market, investors have created a $100 billion industry around single-family rental properties.

Once you find a property that fits all of your investment needs, it's time to think about property management. Residential property management can be a difficult job, even for experienced landlords. Home rental property management takes a lot of hard work. Fortunately, there are proven strategies to follow when fulfilling your property rental management duties. Here are three cardinal rules of effective residential property management, courtesy of Landlordology.

Easy Payment Is a Win-Win

You want to make paying the rent for your property as easy as possible. In general, you want to make it as easy as humanly possible for tenants to give you money each month. That often includes providing an online payment option for your tenants. You can even mention in your lease that online payment is highly encouraged, or even mandatory, so that your potential renters know up front how payment will work. Not only can online payment result in faster payment each month, but it offers a high level of convenience for tenants.

Rock Solid Leases

Every lease should be very clear, easy to follow, and fair. Landlordology writes that the most important aspect of any lease is to put everything in writing. This might seem obvious, but there should be no handshake deals when managing a rental property. When people are looking for houses for rent, they want to know what they're getting into. Likewise, you need to ensure that your tenants are perfectly clear on your own rules. Make it easy on them and yourself by having a solid lease that explains everything the tenant needs to know.

Build Tenant Trust

No matter what kind of business you're running, building customer relationships based on trust and quality is key to success. The same holds true for managing any type of rental property. Whether you're managing one building or five, you should operate on the basis of being kind, being honest, and making timely repairs for your tenants. If a tenant knows they can confide in and rely on their property manager, they're more likely to stay in that space. It really is as simple as that.

Property management can be seriously stressful. However, follow these three simple rules to help your job become a breeze.

If you have any questions about property management services please give us a call at 407-261-5610

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Challenges You Will Face as a Property Manager

Saturday, March 24, 2018

Becoming a property manager comes with a lot of benefits. You get to meet a lot of people, make money, and strengthen your management skills. These are all things that can definitely help make someone more marketable and teach them how to handle difficult situations.

While there are a lot of benefits to becoming a property manager, there are also many challenges. These challenges may seem overwhelming at times, but they will actually make you a better property manager. Let's take a look at a few of them!

Staffing

Property management services can't run on their own! As a property manager, you're going to have to hire help. However, the staff that you hire can either help or harm your organization. Since property management services require employees to know a lot about houses for rent and home rental property management, the employees must be specially trained and have a wide range of skills. You also have to make sure that the people that you hire are there for the right reason -- to help your business succeed.

Maintenance

As a property manager, you will be expected to handle anything that comes your way. Solving potential issues with the property, like repairs and other maintenance duties, is required whenever wherever. Tenants will likely reach out to you if their sink is clogged, if their toilet keeps running, or if their bathtub isn't draining. These little things are easy to be fixed but can impact your day to day routines.

Time Management

Time management is one of the biggest challenges you will face as a property manager. Unfortunately, there are just not enough hours in the day. Because of this, it's so important to make sure that each day's necessary tasks are always completed on time and well. You're going to have to learn how to prioritize certain things over others and how to make split-second decisions. If you aren't able to stay organized and keep on top of things, your day might start to go downhill pretty quickly.

Property rental management is a great field to get into. In fact, a Better Homes and Gardens Real Estate survey says 94% of current real estate investors are interested in further investment opportunities of this nature. It gives you a chance to meet new people, try new things, and learned a lot about yourself, however, it's extremely important to be aware of the challenges you will face. While these challenges may seem overwhelming at first and at the time, there are definitely going to help you become a better property manager in the future.

If you have any questions about property management services please give us a call at 407-261-5610

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