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5 Simple Ways to Boost Your Rental Property’s Cash Flow

Posted by Mitchell Vinnitsky

Positive cash flow is always a goal in business, but maximizing those profits is the ultimate objective. If you own rental property, it may seem like there is little wiggle room beyond the basics of raising the rent. The good news is, there are actually a number of ways to boost cash flow and increase your bottom line. Here are 5 such strategies that you can start implementing right away.

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Topics: Technology, Property Management, Business Growth, HOA management software, Benefits of association management software

3 Ways to Minimize Risk in Real Estate Investment

Posted by Mitchell Vinnitsky

Like any investment, buying real estate does not come without risk. And while there is certainly plenty of opportunity to generate a decent profit, there are times when things might invariably go south. Understanding these potential pitfalls is the key to protecting yourself against them, or at least mitigating your potential damages. Let’s explore three specific ways to fortify your investment against risk and steer your portfolio away from many of the hidden troubles of real estate investing.

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Topics: Productivity, Technology, Property Management, Tips, Business Growth, Benefits of association management software

Community Living - How to Handle Parking Rules

Posted by Mitchell Vinnitsky

Living in a community like an HOA or COA, there are a number of areas where rules must be set to provide clarity and prevent potential conflict. One of the most common is centered on parking. Whether you’re new to the community management field or you just feel that your rules could use a little improvement, here are a few tips that our experts recommend.

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Topics: Technology, Property Management, Business Growth, HOA management software, Benefits of association management software

Guide to Increasing Rent on Your Rental Properties

Posted by Mitchell Vinnitsky

Raising rental rates is something most landlords or property managers must do at some point or another. Over time, operating costs and other expenses, such as taxes and utilities, go up. When those increases start to eat away at your profits, it’s time to consider passing at least a portion of that onto the tenant. But raising the rent should be done strategically. Otherwise, you could end up losing a good long-term tenant in the process. Here is some guidance to get you pointed in the right direction.

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Topics: Technology, Property Management, HOA management software, Benefits of association management software

Property Management Fees vs. HOA Fees – What’s the Difference?

Posted by Mitchell Vinnitsky

Many people mistakenly believe that property management and HOA management are the same thing. In fact, the two are decidedly different in a number of ways. From a high level view, property management involves the day to day management of rental properties, either residential or commercial (or both). HOA management, however, refers to the management of homeowners associations. Not surprisingly, the two have very different fees associated with their duties. Here more info below.

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Topics: Technology, Property Management, Business Growth, HOA management software

How to Create a Virtual Property Tour

Posted by Mitchell Vinnitsky

Technology has fundamentally changed the world of property management. One of the most innovative changes has been the introduction of virtual showings. This strategy was pushed even more to the forefront thanks to the recent pandemic. Not only are virtual tours safer, but they’re also more convenient for everyone involved. That being said, there are certain measures you can take to make your virtual walkthroughs more appealing. Let’s take a look at a few of these things below.

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Topics: Technology, Property Management, Business Growth, HOA management, HOA management software

5 Tips for Better Landlord-Tenant Relationships

Posted by Mitchell Vinnitsky

Your success as a landlord hinges heavily on maintaining strong, positive relationships with your tenants. Developing trust and keeping your good tenants happy will, in turn, keep your vacancies low and your cash flow healthy. Are you doing enough to create and manage these solid relationships? Could you use a little help in this area? We’ve got you covered. Check out a few of our expert tips below.

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Topics: Technology, Property Management, Business Growth, Maintenance, HOA management, HOA management software

Long-Term Maintenance Tips

Posted by Mitchell Vinnitsky

As property managers, we often think of maintenance requests as more of a reactive task. An owner or tenant calls to report something is damaged or broken, and we send someone out to take care of it. But this is actually only half of the equation. Keeping clients happy and vacancies at a minimum requires certain proactive and preventative measures. What does a long-term maintenance strategy like this look like? Let’s explore in greater detail below.

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Topics: Productivity, Technology, Property Management, Customer Service, Tips, Business Growth, Employee Satisfaction, Maintenance, HOA management, HOA management software, Benefits of association management software

Long-Term Maintenance Tips

Posted by Mitchell Vinnitsky

As property managers, we often think of maintenance requests as more of a reactive task. An owner or tenant calls to report something is damaged or broken, and we send someone out to take care of it. But this is actually only half of the equation. Keeping clients happy and vacancies at a minimum requires certain proactive and preventative measures. What does a long-term maintenance strategy like this look like? Let’s explore in greater detail below.

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

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, Business Growth, HOA, Customer Satisfaction, Automation, HOA management software

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