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5 Essential Lease Clauses to Protect Your Property Investments

Posted by Mitchell Vinnitsky

You already know how important it is to have a signed written lease agreement, but the information that’s actually contained within the four corners of that document is equally important. Chances are, that 2-page “sample” template you found online is not going to afford you all the protections you need and deserve. To avoid learning this the hard way, here are a few essential lease clauses to protect yourself and your investment.

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Topics: Technology, Property Management, Tips, Business Growth

How to Survive a Real Estate Audit

Posted by Mitchell Vinnitsky

If you’ve ever had the (dis)pleasure of experiencing a real estate audit, you know what a massive headache it can turn out to be. Thankfully, there are ways that you can be proactive in planning and preparing in advance so that when that time inevitably comes, you’ll have all your ducks in a row. Here are a few tips from our property management experts on how to make your business audit-proof.

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Topics: Productivity, Technology, Property Management, Tips, Advice

5 Ways to Grow Your Rental Property Portfolio in 2021

Posted by Mitchell Vinnitsky

Rental property ownership can be a very lucrative investment, but as your business expands, finding additional properties that fit with your long-term goals can become increasingly challenging. To improve your odds of landing the best properties before your competitors do, here are five resources you can leverage.

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Topics: Productivity, Technology, Property Management, Tips, Business Growth, Profitability

5 Savvy Marketing Tips to Fill Your Vacant Properties

Posted by Jessica Galeano

In an ideal world, as soon as one great tenant moves out, the next great one would move in, keeping your properties rented and a steady stream of revenue flowing into your bank account. In reality, minimizing vacancies isn’t nearly this straightforward. Whether you recently purchased your first real estate investment property and you’re starting from scratch, or you’re an old pro and are just looking for new ways to keep those units full, here are a few effective marketing strategies to try.

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Topics: Productivity, Technology, Property Management, Tips

How to Enable Goal Progression at Work

Posted by Angelica Diaz

Internal business goals are dynamic. Strategy, time, data, and labor are poured into establishing achievable goals for an organization, whether it’s company-wide, departmental, or individual. Sometimes even with all the data on their side, companies don’t reach their goal within the projected timeframe. When this happens, it can be disappointing for everyone involved, but it should not be less motivating. In fact, missed goals are an opportunity for teams to leverage retrospective failures, shaping new goals and outlook.

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Topics: Productivity, Blog, Technology, Property Management, Tips, Communication, Profitability

3 Elements of Email Etiquette for Successful Teams

Posted by Mitchell Vinnitsky

Email is ubiquitous, it’s heavily relied on by businesses for internal communication, external communication, and marketing. There are expected to be 4 billion email users worldwide by the end of 2020 and that number is projected to climb to 4.3 billion by 2023. Adopting the right email practices can improve connectivity between teams, collaboration, and productivity while helping to foster positive work relationships.

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Topics: Property Management, Tips, Communication, Employee Satisfaction, Organization

How Capitalization Rate Provides Insight into Your Properties

Posted by Tricia Gopi

The capitalization rate, sometimes referred to simply as the “cap rate,” is a concept that’s fundamental for anyone buying into real estate for commercial purposes. The cap rate is used in real estate investing to provide a clear ROI of properties. It’s typically depicted as a percentage and its value can vary over time.

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Topics: Productivity, Property Management, Tips, Business Growth, Budgeting, Economics, Profitability

How Can Property Managers Measure Profitability?

Posted by Jessica Galeano

There are many metrics property management companies can use to pinpoint the value of their business, increase the profitability of their service, and decrease costs to their operation. Leveraging software that facilitate these measurements or regularly run property management reports allow organizations to actively improve or maintain profitability and increase cashflow to continue to grow their business. Collecting and analyzing data are key element of planning so businesses can stay financially healthy. If you operate a property management company and intend on growing, here are some strategies to effectively measure your profitability.

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Topics: Productivity, Property Management, Accounting, Tips, Advice, Reporting, Trends

5 Tips to Avoid Property Management Accounting Errors

Posted by Mitchell Vinnitsky

Errors are inevitable when accounting department rely heavily on manual processes. Property management companies deal with multiple accounts, hundreds to thousands of customers, vendors, and more, which can make the volume of invoices, payments, balance sheets and other accounting tasks overwhelming and difficult to complete perfectly on the first or even second try. Errors are inevitable, but unbalanced books can double the workload and stifle productivity. So, how do accounting teams avoid the seemingly unavoidable? Here are 5 tips to keep your books in order.

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Topics: Productivity, Property Management, Accounting, Tips, Advice

7 Common Accounting Errors for Property Managers

Posted by Jennifer McCready

Manual data entry of hundreds of numbers every day can make accountants and administrators more susceptible to errors. Data entry of invoices, bank details, account codes can be stressful, it’s very easy for numbers to become distorted especially when being inputted repeatedly. When mistakes are made in accounting the result can be inconsequential or cause a domino effect impacting the result of numbers and books.

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Topics: Productivity, Technology, Property Management, Accounting, Tips, Economics, Finances

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