How to limit your liability for your property manager’s illegal acts
How to limit your liability for your property manager’s illegal acts
Posted 4 days ago

  Liability for property manager’s illegal acts Hiring a property manager can free landlords from many day-to-day time-consuming tasks, like handling maintenance, collecting rental payments, and showing vacant rental units to interested tenants. But all the time, it can also cause some worries of its own, like meeting the IRS…

Traditional vs. Web-based Property Management Software – Part 2
Traditional vs. Web-based Property Management Software – Part 2
Posted 4 days ago

  Traditional VS Web Based Property Management Software Some people might argue that buying a traditional software with a onetime payment is better than paying a monthly subscription for a web-based software. This is because web-based softwares are typically not available for free, especially the premium versions that come with…

Traditional vs. Web-based Property Management Software – Part 2
Traditional vs. Web-based Property Management Software – Part 1
Traditional vs. Web-based Property Management Software – Part 1
Posted 4 days ago

  Traditional VS Web Based Property Management Software Traditional, desktop property management software needs to be purchased and owned by the user. Also, it often comes with significant hidden charges that are usually paid by the user in other ways. These costs are usually considering part of the total cost…

Traditional vs. Web-based Property Management Software – Part 1
PreviousNext

How to limit your liability for your property manager’s illegal acts

by Property Management Software on January 22, 2015


Liability for property manager’s illegal acts
 
Liability for property manager’s illegal acts

Hiring a property manager can free landlords from many day-to-day time-consuming tasks, like handling maintenance, collecting rental payments, and showing vacant rental units to interested tenants. But all the time, it can also cause some worries of its own, like meeting the IRS tax rules and other legal obligations. Moreover, landlords are also required to properly train and supervise their managers so that they do not cause any legal problems.

What legal issues can be caused by managers?
Depending on the situation, landlords may be sued by an existing or prospective tenant and found liable for the acts of their manager, such as:

  • Violating certain antidiscrimination laws by denying to rent to a reasonably qualified tenant who is a member of a minority group
  • Not returning the departing tenant’s security deposit within the time limit as set by the state law
  • Not attending to the critical maintenance requests like substandard wiring that may result in an electrical fire and cause injury or damage to the tenant
  • Committing a crime against tenant, such as sexual assault
  • Intruding a tenant’s privacy by offensive and damaging gossip or trespass.


How to protect you and your tenants from a bad property manager

Here are five key ways to limit potential legal problems that your manager may cause.

  • Appoint your manager very carefully. Run a comprehensive screening process for selecting your manager. This is because, if your tenant is treated in an illegal way by the property manager due to poor background review on your end, you could get sued for it.
  • Make sure your manager has a basic knowledge of landlord-tenant law, especially if your manager will be involved in tenant screening process and serving eviction notices. Give your manager clear and detailed instructions on the likely trouble areas, like the legal rules prohibiting discrimination in the tenant selection procedure.
  • Instead of handing over everything to your manager, try to resolve certain tenant requests yourself, especially the maintenance requests.
  • Get rid of a bad property manager as soon as possible. Don’t let the problems escalate.
  • Purchase a landlord’s insurance policy that covers illegal acts of your managers.

SimplifyEm offers a range of property management products for you to run your property management business smoothly. The property management software will automate and accelerate a range of tasks for you. Apart from this, there are other products like tenant screening, property management forms and much more to make your life easier. In a way, it will help you handle and monitor your business and you’ll not have to rely on your managers on a whole.

{ 0 comments }

Traditional vs. Web-based Property Management Software – Part 2

by Property Management Software on January 22, 2015


raditional VS Web Based Property Management Software
 
Traditional VS Web Based Property Management Software

Some people might argue that buying a traditional software with a onetime payment is better than paying a monthly subscription for a web-based software. This is because web-based softwares are typically not available for free, especially the premium versions that come with a pack of advanced features. So, let’s get to know the advantages for paying a monthly subscription.

Why pay for a monthly subscription?
Property managers and landlords too have the same issues with IT equipment as most of the business owners. They have moved from pencil & paper to this property management software. So, they find buying and owning a software worth it, but even this option has its own drawbacks.

After you own the software, you’ll also have to buy a server, appoint an IT consultant to set up your server up and take care of it. It also comes with the responsibility of installing the CD’s, migrating the data and reading the manuals. Furthermore, there is this ongoing IT maintenance of your server and back up of data that you’ll have to deal with. Finally comes the training classes that you have to conduct to train your staff for the same. If you are a property management company, you’ll have to train your new employees when they join you. There is also a significant loss of time incurred on managing shared licenses for too many people. If somehow your system goes down, just imagine the cost of the downtime.

Traditional Property Management Software is Expensive

As evident from the above discussion, the cost of a traditional property management software is much more than the annual support contract. The property owners and managers are also paying with their time, consultants, and downtime for new servers. All of this results in a significant loss of productivity.

As such, people are spending billions of dollars on web-based software to make the companies costs lower and time efficiency higher. The software allows real estate professionals to focus on growing their business and not on their IT or added employee costs. And it’s not just the costs, there are many other reasons as to why the property management companies are gravitating towards web-based software.

Web-based software is certainly the future of the real estate industry. Take SimplifyEm for example. In addition to time and cost savings, it adds productivity, upgraded security and is a true SAAS (Software as a Service).

{ 0 comments }

Traditional vs. Web-based Property Management Software – Part 1

January 22, 2015

  Traditional VS Web Based Property Management Software Traditional, desktop property management software needs to be purchased and owned by the user. Also, it often comes with significant hidden charges that are usually paid by the user in other ways. These costs are usually considering part of the total cost of ownership and include expenses […]

Read the full article →

How to Hire a Resident Property Manager? – Part 2

January 20, 2015

  Residential Property Management Software In our previous blog post, we talked about two major tips to help you with the hiring process of resident property managers. Let’s continue with the other tips in this post. 1. Prepare a written property manager agreement After you select a resident property manager, and all of the terms […]

Read the full article →

How to Hire a Resident Property Manager? – Part 1

January 20, 2015

  Residential Property Management Software Many landlords tend to hire resident managers for their rental apartment buildings; but to make things really work, it is important that the hired manager is efficient and smart. To select and employ such resourceful individuals, the landlord needs to run a meticulous hiring process. This involves writing proper job […]

Read the full article →

Repairs, Maintenance, and Entry to Rented Unit: What should a landlord do?

January 20, 2015

  Landlords’ Maintenance Responsibilities Landlords hold a responsibility to repair rental property and to give tenants a notice before entering. This is especially important to avoid any problems with tenants. The landlords should make repairs to the rental units as soon as they can. Major problems, like those of heating or plumbing problem, should be […]

Read the full article →

Tenant Screening: What’s the Right Way to do it?

January 19, 2015

  Tenant Screening Tenant screening is one of the best possible ways for a landlord or property manager to make an informed decision about a prospective tenant. Like every other thing, tenant screening too has its own rules and regulations. The biggest regulators are the Fair Housing Act and the Federal Fair Credit Reporting Act. […]

Read the full article →

Myths about using a property management software

January 19, 2015

  Property Management Myth While there has been a widespread increase in the use of property management software, we find many misconceptions are still prevailing in the minds of landlords and tenants. Let’s go through some of the most common myths about using a property management software. #1 Myth: I want to use it, but […]

Read the full article →

Snap up a home in affordable Berlin

January 15, 2015

It’s been 25 years since the wall came down – and Berlin is now better known for being an edgy and vibrant global capital with an interesting historic and cultural legacy. Amid majestic historic architecture, newly gentrified communist apartment blocks and staid buildings from the Third Reich, the Berlin skyline is forested with construction cranes. […]

Read the full article →

What can stop the 2015 real estate train

January 15, 2015

Sure, plenty of housing experts and economists are expecting the housing market recovery to gain steam in the new year. But a number of factors could still derail the whole thing. As we head into 2015, here are five things real estate watchers are keeping an eye on. 1. Big investors cash out. Institutional investors […]

Read the full article →