You cannot be successful in property management if you don’t have enough occupied properties to manage. But keeping vacancies as low as possible can be quite challenging, particularly in heavily populated areas where there are plenty of options for renters to choose from. A solid marketing strategy can help position your properties in the best possible light and increase your rental and retention rates. Here are a few tips from our experts to get you started.
As a savvy real estate investor, you’ve probably made sure that you have plenty of insurance coverage to protect your assets. But what about your residents? Renters insurance isn’t just a tool to save money for your tenants. It also saves time, money and aggravation for property owners.
Good financial practices are a critical component of success in any business, including property management. Accurate numbers enable timely and data-driven decision-making. The more soundly you run your business, the more your clients will grow to trust you, which means greater longevity and a better bottom line. Let’s take a look at five best practices to not only keep your books in the black, but also maximize profits as much as possible.
Any good marketer will tell you that not every prospect is worth pursuing. This is certainly true in the property management industry. Not every landlord or property owner will be worth investing your time and energy. To optimize your efforts, you should focus on the demographic that is both most likely to avail themselves of your services, as well as most likely to be a good, long-term client. Here’s how to identify and target these high-quality prospects.
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.
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.
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.
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.
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.
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.