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Property Management Best Practices

Posted by Mitchell Vinnitsky

New to property management? With so many moving parts, it’s easy to feel overwhelmed. But given the level of competition in the industry, being at the top of your game is essential to your survival. To give you a better foundation for success, here are a few best practices as shared by our team of experts.

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

Tips for Attracting Better Tenants

Posted by Mitchell Vinnitsky

Having a difficult time finding long-term, reliable tenants and enticing them to rent your vacant rental properties? It’s important to screen applicants well, but you have to attract their interest first, which can be really challenging. Many property managers overlook some very basic yet highly effective strategies for making their units more appealing to prospective tenants. The expert tips below should help.

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Topics: Productivity, Property Management, Customer Service, Tips, Business Growth, Rentals, Leasing, Analytics, HOA management software, Association management tools, Benefits of association management software

The Real Cost of Tenant Turnover

Posted by Mitchell Vinnitsky

Tenant turnover isn’t just a hassle. It’s one of the most expensive components of property management. While the cost of vacancy eats away at your bottom line, there are a number of other out-of-pocket expenses that must also be incurred in order to get those empty units filled again. To put this into perspective, let’s take a more detailed look at how tenant turnover can financially impact your business.

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Topics: Property Management, Tips, Engagement, 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: 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, 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

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

5 Ways to Attract More Property Management Clients

Posted by Mitchell Vinnitsky

Property management is a competitive industry. If you want to position yourself as a leader in the market, you have to stand out from the crowd. You also have to be proactive, and sometimes even creative in how you reach and nurture leads. Ready to grow your book of business? Here are five tips from our property management experts.

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Topics: Technology, Property Management, Tips, Business Growth, Customer Satisfaction

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