What is a Residential Property Manager?
What is a Residential Property Manager?
Posted 3 days ago

Residential Property Manager A Residential Property Manager is responsible for managing residential properties, starting from single-family homes to large apartment complexes. A property manager is a third party that landlords hire to handle the day-to-day operations of their residential property. The responsibility of a residential property manager often varies according…

What is a Residential Property Manager?
Can a property manager help me avoid bad tenants?
Can a property manager help me avoid bad tenants?
Posted 4 days ago

Property Manager How can you avoid renting your property to a bad tenant? Some tenants might not be faithful in paying rent, have drugs problems or maybe have a habit of partying late night. Plus, tenants like this can damage your property and create a mess for you to take…

Can a property manager help me avoid bad tenants?
Why am I not able to find a tenant for my property?
Why am I not able to find a tenant for my property?
Posted 5 days ago

Good Tenant Rental apartments are an excellent income source. Finding the right tenant is imperative, but if no one has come by in weeks, it is time to figure out what went wrong. The lack of prospective tenants is enough to panic a landlord. The following are some common problems…

Why am I not able to find a tenant for my property?
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How to Find the Right Property Manager?

by Property Management Software on November 26, 2014


Property Manager
Right Property Manager

If you buy a rental apartment in different state, you may find it quite difficult to manage the properly yourself. Even if the property is in your state or nearby your area, you would have several other responsibilities to handle other than taking care of your rental property.

That’s why you will need a reliable, responsible and skilled property manager to not only collect rent, but also handle day-to-day maintenance and tenant communication on your behalf. You may prefer using a property management software such as SimplifyEm if you are just concerned about collecting rent and paying for maintenance. Sometimes your tenants or neighbors may want to talk to the owner or authority to resolve an issue and you could use a person handle it all without your direct involvement.

The following are some steps that will help you to find the right property manager for your property:

Ask for References
One good way to evaluate the experience and reputation of any candidate is through referrals. Ask your family, neighbors or friends with rental properties to get some quality managers. Plus, check the state’s Real Estate Commission and the Better Business Bureau to find out some good managers and ensure that your prospective property manager is licensed and without issue. Shortlist candidates and interview each one of them.

First Impressions Matter
When you meet prospective candidates in person, keep eyes on their confidence level and body language. Check if the candidates are together and well-spoken. Ask questions about their experience, problems he or she faced in his career related with rent collections or tenant management. It is an added advantage if any candidate is tech-savvy and has used property management tools to speed up tasks and proper management. Even if you do not get such candidate during interview, then find out someone who is willing to learn as property management software such as SimplifyEm is easy to operate and a non technical person can operate it without any hassle.

Command Over Advertisement & Vacancies
To get tenants for your vacant rental home, he or she must know how to advertise vacant homes. Ask what kind of signs they put in front of the property and what media they choose to promote the property such as newspaper, website or anything else. Ask if he is managing or has managed any vacant homes and how.

Negotiate Contract Terms
After you finalize one candidate to hire, it is the time to negotiate terms of the contract. Both parties must read the owner/ Property manager agreement carefully and have a thorough discussion to ensure you both are on the same page. Make sure that you are able to communicate with your property manager via different ways such as email, phone, etc.
While checking, you need to ensure that the monthly fees as well as the leasing fee for placing a tenant are documented. You must have an idea about average fee in the area to know if the fees are too high or low. Define the notice period the property management has to terminate the relationship. You also have to give enough time to him or her to find a replacement in case you are firing.

Review the Manager’s Tenant Lease Agreement
Sit with your prospective property manager and ask how much of a security deposit is required of the tenant. Ask him how he calculated the proposed rent amount and also ask how the compares them to other properties. The rent should be good enough to get tenants else your property will remain vacant due to high charges. The agreement should also outline tenant’s responsibilities clearly.
Finding a trustworthy and professional property manager is not easy, but devoting some extra effort in the start will save you from headaches later on. You can bring transparency between you and your property manager by asking him to use a property management software for rent collection, maintenance and report generation. Ask him to provide you detailed financial report of each property so that you can track all transactions, income and expenses related to your rental property.

What is a Residential Property Manager?

by Property Management Software on November 25, 2014


property management company
Residential Property Manager

A Residential Property Manager is responsible for managing residential properties, starting from single-family homes to large apartment complexes. A property manager is a third party that landlords hire to handle the day-to-day operations of their residential property. The responsibility of a residential property manager often varies according to their salary and management contract, but generally, it includes the following tasks.

Rent responsibility
Setting Rent Amount: A local and experienced property manager knows the market trends and knows how to set the right rent amount to allure potential tenants to your residential property. He or she has a clear understanding of the market, local area and local rent standards.
Rent Collection: This is a very imperative responsibility to maintain your cash flow. Managers ensure optimal cash flow by fixing a date to collect rent every month and charge late fees in case tenants do not give the rent on a set date. Although, it can be done through property management software such as SimplifyEm, which comes with integrated online payment system to collect rent online.
Rent Adjustment: Your qualified property manager can increase the rent up to a fixed percentage as per the industry norms and state law. Sometimes, they can also decrease the rent if necessary.

Tenant Management
One major responsibility of property managers is to manage tenants, including finding tenants, screening, setting rent and dealing with complaints and evictions.
Tenant Search: As a property manager, you are responsible for promoting your property to attract potential tenants. You must know how to promote and what to mention in the ads that attract tenants.
Tenant Screening: They are esponsible for sorting through the prospective tenant’s applications to get the best fit. The screening process includes background check, credit check and criminal background check.
Handle Lease: You will be responsible to decide the length of the lease and make sure it has all necessary provisions to protect the owner, including the amount of security deposit.
Complaint handling: The residential property manager must be able to deal with maintenance requests, harsh complaints and must have local contacts to handle emergencies.
Move-out handling: when a tenant moves out, it is responsibility of the manager to inspect the property, check for damages and determine the portion of security deposit that will be returned to the tenant. Once tenant moves out, your manager will be responsible for cleaning and repairing the property.
Handle Evictions: When a tenant moves out without paying rent or breaches any terms of lease, your manager must understand the proper way to file and move forward with eviction.

Maintenance & repair
A residential property manager is responsible for managing the property physically, including regular maintenance and emergency repairs.
Maintenance: he or she will be in charge of performing all preventative property maintenance to keep the property functioning. They must be able to check for leaks, landscape, trash removal, or must be able to hire someone for these tasks.
Repairs: When there is an issue, the property manager must be able to attend to it. You must have local contacts, including plumbers, electricians, carpenters and others who can come to the property on a phone call.
All the above-mentioned responsibilities of property manager are very crucial. With advanced property management software, like SimplifyEm, you can handle the tasks on your own. You may still want to have a residential property manager find a tenant, set rent amount and visit in person whenever there is a complaint.

To read more about SimplifyEm Residential Property Management Software and other update please visit http://www.simplifyem.com/property-management-software

Can a property manager help me avoid bad tenants?

November 24, 2014

Property Manager How can you avoid renting your property to a bad tenant? Some tenants might not be faithful in paying rent, have drugs problems or maybe have a habit of partying late night. Plus, tenants like this can damage your property and create a mess for you to take care of before moving out. […]

Read the full article →

Why am I not able to find a tenant for my property?

November 23, 2014

Good Tenant Rental apartments are an excellent income source. Finding the right tenant is imperative, but if no one has come by in weeks, it is time to figure out what went wrong. The lack of prospective tenants is enough to panic a landlord. The following are some common problems that may be keeping tenants […]

Read the full article →

What is a commercial property manager?

November 22, 2014

Commercial Property Manager Commercial Property Manager assist landlords in supervising their commercial properties. He or she is responsible to take care of the property, search and screen tenants, collect rent, communicate with tenants and handle property maintenance on behalf of the landlord. Many landlords prefer using property management software such as SimplifyEm over hiring a […]

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What is a certified property manager?

November 21, 2014

Certified Property Manager The challenges and the increased competition in the real estate market have made it harder for many to succeed without experience and credibility. Having a legitimate certification can demonstrate your expertise and integrity to potential landlords, investors, and employees. A certified property manager is a real estate professional designation awarded by the […]

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Business Practices That Make You a Successful Property Manager

November 15, 2014

If you are a property manager or just looking for one, the criteria that makes a property manager great and proficient would be the same. Therefore, whether you are renting apartments, single family houses, villas, vacation apartments or anything else, there are some key things that a property manager should understand to be successful. Tenant […]

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Want to live an Italian dream

November 13, 2014

Flanked by Italy’s majestic Apennine mountains on one side and 111 miles of coastline on the other, the region of Le Marche is adorned with medieval hilltop villages. These are surrounded by undulating patchwork hills where vineyards, orchards and olive groves thrive. With such a pedigree, it is hard to understand why Le Marche is […]

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Things to consider before purchasing a home

November 12, 2014

Big purchases often come with big expectations.   So it’s no wonder that in a recent survey of 2,000 homebuyers, a whopping 80% said they regretted at least one thing about their home. The number one complaint: The home just isn’t big enough, mortgage information site HSH.com found. Others complained about a lack of closet space […]

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Foreigners continue pouring money in US real estate

November 12, 2014

Favorable exchange rates, affordable home prices and relatively inexpensive financing continue to drive international home buyers to the United States, and lenders are taking notice. At HSBC, foreign-national mortgages accounted for about 35% of its U.S. home lending business so far in 2014, according to Peter Alongi, senior mortgage manager at HSBC’s New York City […]

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