So you're considering managing properties, either through your investments or as a service for other property owners. Property management is an exciting path full of potential. Your work will be different every day, you get a nice mix of desk work and getting out of the office, and the money can be excellent if you play your cards right.
Meet with the Rent Bridge team at NARPM Texas Style Conference!
The decisions you make regarding property management technology can make or break operational efficiency.
Just because you invest heavily in CRM systems, signature software, listing feed services, commission tracking software, performance reporting, and other vital technologies doesn't mean you'll reap the benefits.
Research reveals up to 30 percent of your assets may be left to the wayside simply because you don't know they are there. For those operating in the real estate industry, it is vital to keep up with all assets at all times. A thorough picture of your assets is key to maintaining cash flow, reducing expenditures, and shortening vacancy cycles.
Tenants, vendors, owners, your leasing team and that inspiring “quote of the day” filling up your inbox? Do you frequently hear, “I emailed that to you already” when talking to vendors or coworkers? Are there 3 or more digits in your unread emails icon? If you are a property manager drowning in emails, we’re here to help.
Property management involves many stakeholders, all of whom want answers with quick turnaround. You are managing someone’s investments, but you’re also managing someone’s home, and as you already know, “I must have missed your email” doesn’t cut it when you miss a work order or form. To avoid upset tenants and angry owners, use these unique tips to help you stop drowning in emails.
Property management has many tasks that are repetitive. While owners and tenants change, the process of onboarding them and managing their property either does not change or changes very infrequently. When you have your standardized methods defined, you can start to look for tasks you can automate to save yourself a significant amount of time.
In this series, we are covering the basics of property management accounting. Part 1 discussed some of the more common accounting terms you will encounter throughout this series. In this part 2, we will cover books and accounts, both for your property management company and your clients.
Part 1: The Basics
In this series, we are going to cover the basics of property management accounting. Property management accounting is different from standard accounting because you not only need to keep track of your property management company’s finances, you are also managing separate accounts for the properties you manage.
A Property Manager's Guide to Establishing a Realtor Referral Program
Cultivating leads is vital to helping your property management company continue to grow and thrive. Long-term success in any business means ongoing work to onboard new clients, and in property management, it is no different.