For landlords and real estate investors, hiring a property manager is often a wise investment. In particular, when someone else is there to handle the day to day nitty gritty work, it frees them up to focus on other, more revenue-driving initiatives. Of course, delegating this work to someone else comes at a cost. Whether you’re a landlord considering the help of a property manager, or you’re interested in getting into the industry and are curious, here are some of the common fees you can expect.
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.
Mobile CRM (customer relationship management) technology is a platform that enables frontline staff to conveniently access CRM software and functionality from any internet-enabled mobile device from smartphones to tablets. The CRM market has experienced unprecedent growth globally, by 2023 Satista projects the CRM software market to grow $40.26 billion USD. Mobile CRM allows remote workers to interact with customer and prospect data to execute from marketing and sales to customer support.
Offering an online knowledge base is a helpful in creating a complete and effective customer service strategy. 89% of customers expect companies to offer a self-service support portal, and Forrester research determined that the most frequently used self-service platforms are knowledge bases. A strong and comprehensive online knowledge base can come in many forms: a website, FAQ, manual – even social media, or it can be a combination of multiple platforms.
Marketing 101 dictates that in order to be successful, you need to know your audience so you can cater to their specific needs, desires and preferences. Given that millennials are now officially the largest generation, and perhaps more importantly – that 60% of them choose to rent rather than own – it only stands to reason that property managers and landlords need to understand who these people are and what they are looking for in terms of amenities. To help you better position your properties so they’re more attractive to younger renters, here are a few things to consider.
Property management is a 76 billion dollar industry, providing plenty of room for opportunity, with growth, profits and employment all on steadily on the rise. If you’re new to the industry, or are considering making a career change, here’s what being a successful property manager entails.
Part of being a strong, positive leader is caring about the career paths of your employees just as much as you do your own. If you’ve been in leadership for some time, you probably already know the obvious ways you can help: provide growth opportunities, assign stretch assignments and arrange mentorships. But what about the not-so-obvious strategies? Here are four unique and somewhat surprising ways to help your employees get to where they want to go.
Climbing the corporate ladder is great, but it comes with a lot more responsibility. And as your plate becomes fuller, so does the risk that you’re going to eventually burn yourself out. Burnout is something almost every business owner or executive experiences at some point in their career, and property managers are no exception. The good news is, this can all be avoided. The key is being able to identify the signs before things get out of hand. Here are three things you need to watch for and what you can do to get back on track.
In a perfect world, homeowners associations would be relatively silent entities. Dues would be collected, projects would be planned and carried out, things would work effortlessly and neighbors would all get along. Of course, as any seasoned HOA manager knows, we don’t live in a perfect world and these associations are rarely “seen but not heard.” Knowing some of the most common complaints launched from these groups can help make it easier to resolve and sometimes even prevent them altogether. Let’s take a look at five of the biggest HOA complaints below.