When the topic of technological advancement arises, commercial property management isn’t typically the first thing that comes to mind. Slowly, but surely, however that is changing. In fact, more and more property managers are turning to automated processes and streamlined systems to improve operations and their bottom line. Let’s take a closer look at several ways, both large and small, that commercial property management firms are leveraging technology to their advantage.
Property managers that handle community associations (HOAs, COAs and Co-ops) often end up feeling as if they’re nothing more than the middleman. For example, owners may come to you to report certain maintenance issues, which you must then turn around and report to the board. The board may then advise you to contact maintenance workers and arrange for their services. Upon resolution, it’s up to you yet again to communicate that plan back to the owners.
But since creating an app requires a pretty significant investment of time and money, doing so just for the heck of it may not be worth it. If you’re on the fence about whether your firm needs an app of its own, here are a few points that may make the decision a bit easier.
How prepared is your property management company for tax time? It’s important, because just one single error could cause infinite and costly headaches down the road. This, coupled with the fact that others are relying on you for timely, accurate records, and this time of year can seem like a nightmare to some. The good news is, with the right strategy, you should be able to get organized enough to make tax season a smooth, stress-free experience for everyone. Here are a few expert tips to get you started.
Using email is a no-brainer for most property management C-Suite executives. Problems come into play, however, when it comes to wording those emails so that they deliver the right message in the right tone and effectively get the point across.
As a leader in an HOA community, it can be challenging to determine which investments are worth the time and money. The last thing you want to do is allocate residents’ funds in a way that produces little return and wastes your precious time on top of it. One decision you may face is whether or not HOA management software is worth the output of money as well as the time it will take to learn the program. Here are a few important things to keep in mind.
As a busy property manager, you don’t have time to waste hours, days or weeks trying to research and compare the many options for property management software. What if there was a way that you could systematically and strategically pinpoint the precise solution you need without wasting valuable man hours in the process? Our goal at Netintegrity is to help others in the industry find ways to make their lives easier and their businesses more profitable. As such, we’ve put together a simple, 4 step process for choosing the best software for your needs (even if it’s not ours).
Many property managers today rely solely on a prospective tenant’s credit score to determine suitability. Unfortunately, most learn the hard way that this practice often comes back to bite them in the long run. At the end of the day, a person’s credit score is just a number and it doesn’t necessarily reflect other important factors, such as how they behave behind closed doors. And since this individual is going to potentially be living in the property you manage, that last part is pretty important. Let’s take a look at a few tenant screening policies that will help you better assess a prospect’s rent-worthiness.
In a competitive industry such as property management, chasing after growth can seem like an impossible feat. But with the right approach, a positive outlook and a little bit of creativity, it’s entirely possible to expand and bring your property management company to the next tier. Here are a few smart strategies that will help you achieve your growth goals year over year.
Managing rental properties takes much more than finding good tenants and handling the occasional maintenance request. Perhaps most important is the task of managing your rental property management company’s cash flow, which can be pretty complex. To achieve this, your business must maintain excellent accounting processes that are in line with your company’s overarching objectives. Here are a few hacks that can make this monumental task a little bit more manageable.