10 Property Management Tips

Are you looking for some useful property management tips? If so, you may want to read the following 10 tips from experts in the field. With these tips, managing property will be a lot easier for you. Read on.

Provide Important Information

Make sure your customers and clients have access to the information about the properties. If you really want to get the listing, you should be able to share all the relevant information in an efficient manner.

Be Punctual

You should be committed as far as making arrangements for a meeting or appointment is concerned. Try your best to get to the meeting point at least a few minutes earlier. This is a good way of leaving great impression on your clients.

Presentation

You should be well dressed when seeing your clients. This will encourage your clients to treat you well. Moreover, your dress code will tell a lot about you.

Honesty

You should be honest while providing reports and statistics about your properties. Providing misleading or false information to clients is the best method to destroy your business. What you need to do is find a strategy to deal with the situation and get a solution instead of providing false information.

Marketing

You should market your property in an effective way. The vender may have unrealistically high hopes, but you should be realistic and shouldn’t agree to the price offers without taking the time to think about everything. After all, you don’t want your property to sit vacant for months just because the price tag was too high.

Advertising

Advertising your property is of great importance. Make sure the advertisement is available at the right time. Therefore, you should be ready with a draft on time. Aside from this, it’s better that you get approval from the vender prior to uploading the advertisement on your site.

Photography

Make sure you take some professional photos of the properties and upload them on your site. Ideally, it’s a good idea to take at least 4 pictures of each property. The pictures should be taken from different angles. Putting a few videos along with photos is also a great idea.

Stay in Touch

You should send updates and reports to the property owners on a regular basis. As a matter of fact, maintaining great relationship with your clients pays. Losing a client is easier than gaining a new one. Therefore, you should stay touch with your clients.

Database

You should know your database. Your prospective clients should receive the same level of respect as do your existing clients. Therefore, it’s a good idea to take a look at your list of clients from time to time.

Background checks

Make sure you do background checks on your tenants. What you need to do is do rigorous background checks on the personal information, tenancy history and employment history of your tenants. This is a great way of making sure you are on the safe side.

In short, you should follow these tips if you want to do your property management in the right way.

For Dubai Property Management, we suggest that you read these tips and then take a look at what Erpoid offers. By doing so, you can do your property management Dubai more easily.

Rental Property Management: Is It Really Worth It To Hire This Service?

Why should I hire the services of the rental property management organization to look after my property given on rent? It would be the first question from every landlord who has given his property on rent, if you ask them to use the services of any such group existing in your city. You will agree that when a person lets his house or any part of his house for rent, his main goal is to earn profits from it to enjoy a better life and make payment of his various bills.

Giving a house on rent is one of the oldest practices carried across the world. If there are any used parts at home, people give it on rent to earn extra income from that part. To a certain extent, this practice seems possible to earn more income in short span of time without investing a single penny from the pocket. But, when a person has a huge amount of properties under his possession and he has given all of them on rent, then looking after all those properties at the same time could be complicated for him, until unless he has enough time to look after them or has someone to take the care of those properties in his absence. However, for that it is imperative that either you or the other person taking care of your property should have proper knowledge of handling the property given on rent.

This is mainly because of lots of legal formalities associated with it, moreover, there are certain conditions where being a landlord you have to sort out any issue arising from your property to your tenant. Let us, for instance, say, while giving your house on rent you told your tenant that the house is equipped with an electrical converter to lighten the house during the power cut. But, during power cuts if that electrical converter did not work, then at that time it is obvious that your tenant will call you and complain about that issue. In such situation if he is residing in your house then it will be easier for you to rectify his problem, but if your rented house is quite away from your residence, at that time going out of home to solve the issue of an electrical converter will be laborious and irritating for you. Therefore, to cope with all these issues it will be better for you to acquire the service, property management group to look after all such complicated issues.

The above mentioned illustration of an electrical converter is just an example to understand the relevance of the services offered by a property management group. There is a plethora of services offered by the expert working in these groups. These experts are well-versed with all legal activities which are expected to be performed by the landlord. Do you know, that before allowing someone to live in your house as a tenant it is imperatively expected from the landlord to cross check the background of your prospective tenant? May be your answer is yes, but do you know what to do if your tenant makes excuses in paying the rent on time, or starts making improper use of your prospective tenant. Hiring the services of experts working in property groups will help in overcoming all these problems.

These experts will properly advertise about the availability of your property to rent, conduct their interviews and cross check their credit from the local police station. Will collect rent from them on time. Make regular inspection of your property that it is not being damaged or improperly used by the tenants. Look after their phone calls during odd hours and reach at the site to solve those issues. These experts will also help you in getting your house vacated from the tenants before the expiry of the agreement, in case if you wish to use the house for some personal work. Not only this, if at the end of tenancy agreement your tenants wish to continue the agreement, in that scenario, these experts will get all the paper work done strictly according to the rules and regulations, prescribing the new terms and conditions related to the rent and use of the house.

In the current scenario, many different property groups which offer the quality services in the rental property market and take care of your whole property given on rent. In simple words, it can be said that the services of the rental property management group will offer you peace of mind by making a little investment in their services.

Lease Cleaning Services – A Wise and Prudent Selection

Usually tenants have to sign a bond to rent a property on lease. They have to sign an agreement with the landlord to ensure the security of the property and its assets. Further, they have to assure the owner that their property will be kept in the same way as it was when the lease was initiated. And to ensure this, tenants have to take care of the property and keep it clean. To get this job done, tenants need to avail end of lease cleaning services that is a very convenient and budget-friendly option to help them handover the place in its original condition.

The end of lease cleaning services is helpful for tenants since it will allow them to keep the house clean – from the kitchen to the courtyard without damaging any assets or item. Also, it makes possible for tenants to win the trust of landlord and get back their deposit amount from the owner while vacating the rental property.

There are many service providers operating in the market, who can help tenants and landlords to keep their property spick and span in every corner. They have a team of professionals to ensure your property will be gleaming.

The service providers perform cleaning works in diverse areas of the house such as kitchen cleaning that involves services like floor wiping, cupboard dusting, stove, oven and bench top cleaning, etc. They also perform bathroom maintenance that involves washbasin and toilet cleaning, mould removal, drawers and cabinet cleaning, mirror polishing, and much more.

They also ensure burnished hall and bedroom that involves proper cleaning of all areas of the hall and rooms such as – carpet cleaning, cobweb removal, ceiling fans cleaning, door spot cleaning, dusting, air conditioner cleaning, wardrobe cleaning, and lots more.

Further, they also perform services, like cleaning of window tracks, panel cleaning, fly screen cleaning, etc. And they also offer laundry cleaning, which includes cleaning of the dryer and filters of the washing machine. Besides, sink sanitizing and polishing, etc.

Above are some of the common services offered by the service providers in the market. For all such activities, they have experienced cleaning professionals, who can ensure to make all the areas and items get cleaned in the house from inside to outside with complete security. Hence, the tenants can keep the property clean by availing services of the best end of lease cleaning firms and get back their deposits from the owner with ease.

It’s recommended to hire end of lease cleaning services from reputed and experienced firms. A reputed property cleaning agency has experienced and professional cleaning experts, who can ensure to deliver the best cleaning results without damaging the property’s items. Also, the company will charge reasonably for the cleaning services as per the industry norms.

I am Rohit Bisht, an expert in Sales and Industrial Marketing. I seek information about the latest trends in the market and provide necessary updates about the same. If you want to know more about end of lease cleaning service you can follow me and read the articles on related topics.

The Six Critical Elements of Great Ad Writing for Rental Properties

As marketing coordinator I write ads every day and follow the 6 rules below to make our ads standout.

1. HEADLINE / AD BANNER
I write my Ad first and see what details jump out at me for the Ad Headline. Is it on tree-lined street? Is it near a park or something of interest? Then I incorporate the most important items, like number of bedrooms, the address and points of interest into the headline. For example:
“3 Bedroom Condo for Rent – 123 American Drive – Award Winning School District”

2. USE KEY WORDS IN YOUR HEADLINE / AD BANNER AND THE AD
A keyword is generally a word or phrase that is a topic of significance. Prospective tenants use keyword searches as a way to identify and locate a property that will suit them. They can enter this word when searching for a property online. For example:
“3 bedrooms”, “single family home”, “Valley Forge Park”, “fenced yard”, “pets allowed”

3. DETAILS, DETAILS AND MORE DETAILS!
Beyond the basics like number of bedrooms, bathrooms and square footage, include as many other details of the property that will appeal to your renter.
• Is there a microwave in the kitchen?
• Does the home have a washer and dryer?
• Does it have new windows or carpet?
• Is there a fenced yard?

Always include information about the home’s neighborhood, access to public transit, shopping, school district, swimming pools or other area features that can effect a renter’s decision to contact you.

We recommend that ads are written in bullet point statements versus a full sentence. This allows the reader to scan ads versus reading long sentences or paragraphs.

4. TAKE GREAT PICTURES!
Every prospective renter looks for a property that suits them financially and aesthetically. There is no greater turn off than too few photos, blurry photos or dark photos. Try to take as many photos you believe will result in a minimum of 10 great photos that capture the essence of the home. And be sure to capture both the exterior of the home and yard.
• Take pictures on a sunny day, everything looks better in sunlight
• Make sure blinds and curtains are open to maximize the natural light;
• Try for an angle to add dimension and visual interest (no corners of bedrooms!)
• Get rid of piled personal items in a room to let the room be seen, not personal stuff.
• Follow bathroom photo etiquette, put the lid down!

5. MAKE SURE YOUR RENTAL POLICY IF CLEARLY STATED
Although the rental price, security deposit, any fees and lease term are important, be very clear about any policies that could threaten the deal with the prospective renters. Make sure they understand pet policies, smoking in the property, parking and anything else that might affect their rental decision. Also, if the property is located within a housing community that has their own set of rules and regulations, be sure it is clear in your Ad that the residence is in a housing community.

6. FORMATTING THE AD ITSELF
There is sometimes a lot of information to include in the Ad. Paragraphs with lots of information and details are too hard to read and a prospective tenant will lose interest. Keep your Ad format the same each time and make it easy to read. Use bulleted short statements in a list versus long sentences in a paragraph. Make sure they are clear and concise and add value to the Ad.

If you follow these SIX critical elements your Ad will give prospective tenants the desire and confidence to see the property. And in representing your rental property well, your prospective tenants will be assured they have found their new home!

Ways to Convince Your Tenants to Pay the Rent Online

Processing rent checks manually is both time-consuming and costly. It usually takes about five minutes and $2-3 per check. If you are expecting 500 checks monthly, this could take almost 42 hours and $12-15,000 every year. If you want a more cost-efficient and timely manner to collect rent, you can implement an online rent collection system with the help of your web-based property management software, which allows you to cut costs in half. It also lets you avoid the dilemma of waiting for checks to appear in the mail or personally collecting the rent.

All you have to do is encourage your residents to agree to this program. You will probably not have any issues with your technically advanced tenants who already use online banking.

On the other hand, other tenants may not be in favor to this idea. In this regard, here are 10 ways to encourage your tenants to opt for online rent payment:

Give an incentive for paying online. You can reduce the rent by $20-30 to encourage your more thrifty tenants.

Give a 2-payment date option for online payments – for example, on the first and fifth of every month. This flexible payment option can motivate residents.

Offer an incentive for signing up such as a $30 gift card from a restaurant.

Create a raffle to win $100 gift certificate from a local store, and let all those who sign up for online rent payment join.

Tell them that rent payments are reported to credit agencies nationwide, allowing them to boost their credit standing.

Explain why online payments are environmentally friendly. Nowadays, more people choose to go green.

Create an FAQ sheet and hand out to tenants. List the advantages given by online payments, which include the convenience of saving time on writing checks and avoiding late payment fees.

In the rental agreement, include the requirement to pay online (California and other states have laws that prevent this).

If they refuse to pay online, charge an additional service fee per month.

As a landlord, be responsible. Whenever there are customer issues, respond immediately. Maintain your property well. When you look after your tenants, they will cooperate and more likely give in to your request to pay rent online.

Just like other issues, the most effective way to convince your residents to pay rent online is to have constant communication and be transparent with them. The moment they realize how beneficial this could be to them and of course, you, they may be convinced to sign up.

If your tenants would be able to pay rent with credit card, the process would be much faster and simpler for everyone involved. It’s about time to start thinking about this and find an online rent payment service.

How Do You Know It’s Time To Get Real Estate Management Software?

There are endless opportunities in the real estate industry, but the truth is that it can get stressful to manage especially when you do not have all the necessary tools. When you are in the property business, you will not only need to put in measures to attract tenants and maintain them, but you will also need to have proper management planning to ensure that you have an easy time keeping an eye on everything that touches on the property.

Real estate management software are designed to assist property owners, investors and property managers with an easier time managing the property. Sticking to traditional management practices that only accumulate documents that become harder to manage can be messy and tedious. When you have the right one you will have a swift process of getting things done, communicating and keeping things neat and organized so it is much easier to handle your real estate. You should consider getting the right real estate management software if:

You have challenges keeping an eye on payments. If there is something that really matters in real estate is tracking payments. If you find that you have issues keeping records of rental payments, tracking late payments and expenses related to the property, then it should be time to get yourself a solution. Paper records can be tough to keep up and you could end up losing cash and time trying to calculate and clarify them. The right real estate management software will give you a paperless way of tracking all payments and recording them as appropriate.

You experience delays in dealing with maintenance requests. Such delays lead to tenant dissatisfaction and this is not something you really want for your property. When you seem to have issues with your move-in and move out procedures and find it hard to keep up with the property needs, you should consider getting a little more organized. Getting real estate management software will save you from all the confusion that can end up harming the property as far as the tenancy is concerned.

You have missing documents and checks. They are the expected consequences of keeping up with traditional property management. You will end up losing money, especially when you can’t seem to find checks sent to you by tenants or other important documents. Real estate management software makes it easy for you to maintain all important data. When you have a good solution handy, you will also manage to give your tenants an easy time making payments through the right channels without any chance of confusions.

You are overwhelmed by the tasks that need to be done. Property management can come with plenty of tasks to manage and it can be overwhelming for you or your property manager. Some management processes are too complex and apart from demanding lots of your time they can easily wear you out. Real estate management software offers that extra convenience layer to the tasks and processes so you have fewer things to do. It can do some of the tasks automatically saving you the time and energy you would have otherwise used to accomplish them.

Real estate management software come with lots of benefits to property owners and managers. The solution you get for the property may also come with features that give your tenants an experience just as pleasant getting things done and reaching out to you.

The 7 Crucial Parts of the Application Process When Renting an Apartment / Home

Rental applications, whether submitted on line via a website or by hard copy, should go through a standard process to determine the eligibility of the applicant. Here are some criteria that should be considered. The process should always be the same for each applicant, remembering to always follow

1. Application fee. This will cover the costs of processing an application and should be paid with the application submission. Many companies charge between $30 and $60 per application.

2. Income. A good standard measure is an Income to Rent Ratio of 3.0, (gross monthly income of three times the monthly rent). This income could be from current employment, Government payouts such as SSI, Child Support, Assistance agencies such as Section 8, and Pensions. The Applicants must supply confirmation for all their income. An applicant which does not meet the 3.0 requirement may be required to have a Co-Signer who would also need to meet the requirements. For payroll income, it is best to have a current paystub which shows the Year-To Date income over a period of time, rather than a onetime payroll amount.

3. Criminal Background. A good credit reporting service will give at least 10 years of law enforcement records on an applicant.

4. Eviction History. It is important to know if the applicant has had any evictions over the last 5 to 10 years.

5. Credit History. It is advantageous to use a service which gives a concise summary of the credit background. The important items are the number of positive and negative trade lines, past due amounts and current collections. Medical bills and student loan debt does not receive the same weight as outstanding charges from utilities and credit card accounts. A good report service will also give a list of civil judgments, bankruptcies, etc.

6. Rental History. Applicant should supply at least two years of verifiable residency. If the applicant is breaking a lease, they should supply a written release from the current landlord.

7. Age of Applicant. The applicant should be at least 18 years of age and all adult occupants should be required to complete a separate application and submit it along with income verification.

The preface to the rental application should enumerate items that would disqualify an applicant, such as eviction by previous landlord, undisclosed criminal record, conviction of certain crimes such as child abuse, current Bankruptcy proceedings, false information on the application, etc.

In keeping with the above criteria, this should enable one to determine the prospective tenant’s ability to maintain the rental payments in a timely manner.

Helpful Tips For Better Real Estate Management

Managing rental properties can be a tedious process sometimes landing you into legal issues. As a property manager or owner, you should think about preventing problems even before they occur to have an easier time maintaining order. Apart from making your tenants feel worthy, you should also find ways of making the management process easy for you especially when handling large properties or multiple properties. When you are organized in how you handle your property, it becomes easier to keep everything in check and a few tips can help you put in the best measures into the management process.

Tip 1 – Get a professional property manager

If you are a property owner with little knowledge of how to go about management, you should consider getting a professional property manager to ease out the process for you. Professional managers with some knowledge and experience in the real estate industry will know exactly how to go about the process and find organizational solutions to ease everything out. When there is a manager in place, you will feel more at peace and have fewer issues to deal with.

Tip 2 – Embrace technology

There are very effective real estate management solutions available thanks to technological advancements. Real estate management software is among the best solutions you can find to make the process easy and organized. Such a solution can improve communications and payments and data maintenance for the property. With the right system you will have an easy time collecting, returning and holding security deposits, as well as inspecting and documenting rental unit conditions before move-outs. There is just so much you can do with real estate management software to streamline processes so look for the best solution.

Tip 3 – Handle tenants appropriately

First of all you should consider screening tenants before allowing them into your property. It is a simple way of keeping troublesome characters off your property. It is also important that you put tenant landlord agreement in writing to keep things clear and ensure that you treat all tenants equally and without any discrimination. Discriminating prospective tenants based on sex, race, origin, disability or even familial status can land you into trouble. It is also important to respect their personal privacy even if the property is yours by notifying them prior to entering their rental units. Handling tenants appropriately will save you from a lot of trouble especially legally.

Tip 4 – Keep the property in top shape

Regular inspections are very important so you can make any improvements and changes where need be. Recklessness on your part leading to safety and security issues can lead to hefty losses in terms of compensations. You should therefore make a point of making prompt repairs and consider having a security system in place to give your tenants the sense of security they deserve as well as ensure that their safety is not compromised in any way.

Tip 5 – Oversee managers

They should be competent enough to keep your property in check. It is therefore important that as a landlord you choose and supervise property managers. Background checks and clearly spelling out their duties will prevent issues cropping out later.

Real estate management can be made easy using relevant software solutions. You can find all kinds of solutions in Dubai to make the management process easier for you.

How Do You Select The Best Property Management Software?

Property management can be a challenge, especially without the right tools. Getting the right software program is very essential in helping you streamline the process of handling your growing business and to keep it organized. More and more companies are eliminating paperwork by choosing software solutions that can handle all important functions including management of documents. But then how do you go about selecting the best property management software for your business?

Step 1 – Start by focusing on what you need

Avoid choosing software that is an overkill or under-kill for your business. It is important that you evaluate exactly what you need the software program for; you can separate office accounting needs from property management needs to cut costs of the software program. Consider whether it is important for the system to help you with tenant background checks, liability and asset accounting and budgeting so you do not waste your time on a solution you really do not need. Whereas you do not want to go overboard when choosing the system, you also do not want to end up with a program that cannot handle the most basic things for your business. It helps to at least ensure that the management software you settle for can automatically post management fees, rent and late fees, maintain separate ledgers for tenants and owners, easily update information via a friendly interface, handle different property types without additional module buying and deal with bank deposits and checks.

Step 2 – Check all important features

There are so many features that may not be that critical to the management process of the property, but they will prove to be valuable on your software. Some of the features that can make a difference in your system include reminder features to help track appointments, pop-up lists of owners and tenants owing you money, features that help check tenant info for log back payments and credit references, automated rent amount updates, automated account updates and other. The more you are able to do with the program the better the convenience you stand to enjoy running your property business.

Step 3 – Confirm support, reliability and reasonable pricing

Most property management software companies fail in offering the needed support. Some may even compel you to pay for software updates to enjoy technical support, whereas others may offer free support for a limited time frame and start charging for any support beyond that. Choose a support plan you can fully trust in and rely on. On the same line, you should take the mandate to check for any hidden costs when buying the software. Ask as many relevant questions as possible and read as much as you can about what you stand to gain using the solution before making the final purchase. It helps to choose a software program that is easy to install and use and one that comes with a comprehensive inbuilt help file. Keep off programs that require you pay for updates and research.

How A Property Management Company Helps With Quality Renters

One of the toughest parts of being a property investor is finding an outstanding tenant to fill your vacancy. What makes an outstanding tenant? The two most important things are that the tenant pays their rent on time and cares for the property as if it were their own.

According to MarketWatch.com, considerations for placing a quality tenant in a property is more valuable than even the old adage of location, location, location when investing in the rental housing market. As such, this is one of the most valuable aspects of working with a property management company. A good property management company will find you rock star tenants that will not only pay the monthly expenses on time, but also keep the home looking as nice as it did the day they moved in.

But what do property management companies do to make that dream tenant a reality? We’ve highlighted some of the most important steps a firm can take to protect you and your investment.

The most important aspect to finding a quality renter is the screening process. A reputable property management company will utilize a nationwide screening company to ensure the most qualified candidates are found.

Several factors come into play when screening a potential renter. Things like criminal and sex offender history are good places to start. But beyond that, other items that will be checked include credit history, verify income, check rental history and search for past evictions. By thoroughly researching potential tenants, you can feel confident about the tenants you allow in your home.

Also, by being available to take applications online 24/7, a property management company will be able to swiftly process the applications received and get a quality tenant in your property faster than if you did it yourself.

A reputable property management company will also likely have a marketing department that will utilize as many resources possible to reach potential renters. This is particularly important because quality renters may seek out a reputable company that appears more legitimate rather than work with an individual one on one. With rigorous marketing, quality renters will gravitate toward properties represented by a reputable firm.

A good property management company will always strive to treat tenants with the utmost respect and address their needs swiftly. A tenant should feel that the home they inhabit is more than just a place to hang their hat, they should care for the property as much as if it were their own. Even the best tenant can become disgruntled and less than motivated to care for the property when they feel they are not being treated well and their concerns not addressed.

By working closely with the tenant, a property management company helps to keep the tenant happy and willing to do the little extras that keep up your investment. For many investors it is not possible or practical to build this relationship themselves and by letting a management company take over the work, you can rest assured the tenant will be happy to call your house their home.

Also, keeping a good quality tenant happy in the property means they are more likely to renew, which will keep costs down and keep the steady stream of income from the reliable tenant coming in to you.

Finally, much in the same way that having a sign for a security company outside your home can act as a deterrent to burglary, association with a property management company may deter unqualified renters from applying in the first place. Often, those who cannot meet the rigorous standards set forth by a property management company will seek out individual landlords who may not have the knowledge or resources to help find qualified candidates. When you partner with a property management company, you send the message to potential tenants that you are seeking quality and will not be taken advantage of.

At Park Avenue Properties we take finding and retaining quality tenants seriously. We know that for investors, filling a vacancy means earning on your investment. We take all the steps above to ensure that we get the best tenants possible in your property as quickly as possible.