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.
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.
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.
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.
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.
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.
Nobody’s perfect, and property management professionals are no exception. Making mistakes is something that happens in business. Thankfully, those mistakes don’t have to be yours to make. By identifying and understanding some of the most common blunders made by property managers, you can hopefully sidestep them in your own career. Check out our list of the top five property management mistakes to avoid below.
Being successful in the property management industry is no easy feat. It takes commitment, dedication, time and yes, sometimes blood, sweat and tears. Property management software is designed to make juggling the day-to-day tasks of a property manager or landlord infinitely easier and more efficient.
Inspections are a key function of property management. Not only do they provide the opportunity to regularly assess property condition and identify the need for maintenance, but they also protect you against serious and costly problems down the road. As with any business process, however, there is a right way and wrong way to carry out inspections. To optimize this process and keep your residents happy, we recommend using the following guideline.
The ability to negotiate effectively is a key element in establishing successful and mutually-beneficial business deals. Without strong and strategic negotiation skills, whether it’s with potential business partners, vendors, customers, or even employees, you’re likely to come out of a meeting with a deal that only satisfies a fraction of what you wanted. While not everything in business can be done completely on your terms alone, insufficiencies can have rippling effects on your goals for business.