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How to Value Your Property Management Company

Posted by Mitchell Vinnitsky

With the economy finally recovering, now is a great time to sit down and figure out what your property management business is worth. Whether you plan on selling or not, it’s always good to have a clear, accurate and up-to-date picture of your company’s value. If you’ve never done a business valuation, this task can seem overwhelming. Here’s a step-by-step guide that should make the process a lot less cumbersome.

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Topics: Technology, Property Management, Tips, Business Growth, Organization, Automation, Profitability, Business

How to Buy a Property Management Company

Posted by Mitchell Vinnitsky

There are a few different ways to get into the property management industry. You can start at an entry-level and work your way up. You can launch your own property management company from scratch. Or, you can purchase an existing property management company. If you’re interested in the latter, it’s important that you approach things with eyes wide open. Here are a few tips from our experts on how to get the best deal.

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Topics: Technology, Property Management, Tips, Business Growth, Advice, Sustainability, Organization, Real Estate, HOA management

5 Ways to Optimize Your Time as a Property Manager

Posted by Mitchell Vinnitsky

Success in property management boils down to maximizing efficiency. This becomes increasingly challenging for those who invest in real estate part time. How can you make sure all of the properties you own and/or manage are kept in tip-top shape when you’re also working another job? Believe it or not, it’s easier than you think. Here are five proven strategies that will help you make the most out of your time so you can get the biggest return on your investment.

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Topics: Technology, Property Management, Training, HOA, Organization, HOA management

3 Common Lease Violations and How to Deal with Them

Posted by Mitchell Vinnitsky

Having a solid lease agreement is one of the fundamentals of property management. This document provides specific guidelines and serves as a binding contract that you can use to enforce the rules of your property. Unfortunately, as most seasoned landlords will tell you, even the best-screened tenants sometimes try to bend the rules. Here are three of the most common lease violations and how to best handle them.

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Topics: Productivity, Property Management, Tips, Business Growth, HOA, Organization, HOA management

Crafting the Perfect HOA Welcome Packet

Posted by Mitchell Vinnitsky

Moving into a new neighborhood can be stressful enough without having to also worry about community rules and logistics, like parking and trash schedules. As an HOA manager, you can alleviate a little of this chaos by providing new residents with a comprehensive welcome packet that they can review once they’ve settled in. This can help you set expectations early and create a positive experience right from the start. What should this packet include? Here’s what we recommend.

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Topics: Technology, Property Management, Business Growth, HOA, Customer Satisfaction, Organization, Automation, HOA management

3 Ways to Optimize Your Property Management Leadership

Posted by Mitchell Vinnitsky

There is very little that hasn’t changed over the past year and a half, thanks in large part to the pandemic. As a result, there has never been a greater need for strong, human-focused leadership. Within the property management industry, leaders must find better ways to prioritize communication while supplying their teams with the tools and technology they need to perform at their best. If you are in a position of leadership, here are three ways to better achieve your goals.

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Topics: Productivity, Property Management, HOA, Customer Satisfaction, Organization, HOA management

3 Tips for Verifying Proof of Income

Posted by Mitchell Vinnitsky

When evaluating potential tenants for a rental property, it’s imperative that you screen them thoroughly. The truth is, anyone can look great on paper and seem legit in person, but there are a lot of hidden pitfalls to renting that could come back to bite you if you’re not careful. One of the best ways to weed out bad apples is to verify each applicant’s income. This can significantly reduce your risk and save you a lot of money and hassle in the long run. Here are a few expert tips to help optimize the process.

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Topics: Technology, Property Management, Business Growth, Digital, Community, Organization

What to Do When a Tenant Moves Out

Posted by Mitchell Vinnitsky

There are tons of resources online (our blog included) about how to find and manage great tenants. But, what about when those residents decide to move on? Even the most successful landlord or property manager will have to deal with turnover at some point. As such, there should be a documented process for how to wrap things up with the former tenant and get the vacant unit prepped and ready to be re-rented as quickly as possible. If you haven’t yet defined this process, here’s what we recommend.

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Topics: Technology, Property Management, Business Growth, Training, Organization

5 Ways to Achieve Hands-Off Property Management

Posted by Mitchell Vinnitsky

One thing that surprises many new property managers is the amount of day-to-day work that’s involved in being successful. Many have this idea that they’ll simply be able to sit back, relax and collect all kinds of passive income. While it’s highly unlikely that you’ll be able to achieve this degree of autonomy, the good news is, there are some things you can do to shorten your to-do list and make your professional life infinitely easier.

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Topics: Technology, Property Management, Business Growth, Organization, Automation

7 Communication Dos and Don’ts for Landlords and Property Managers

Posted by Mitchell Vinnitsky

Whether you’re a landlord, property manager or community manager, chances are, you’re in constant contact with your network, whether it’s scheduling walk-throughs, answering questions, responding to complaints or scheduling maintenance appointments. Every interaction you have is an opportunity to increase trust, foster loyalty and build your reputation. That’s why honing your communication skills is so critical. Here are a few tips to keep in mind.

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Topics: Technology, Property Management, Business Growth, Organization, Automation

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