What Should I Know about Houses for Rent?
What Should I Know about Houses for Rent?
Posted 2 days ago

  Rental Property If you are planning to rent out your home, or want to rent your own property, there are certain things that you must be aware of. The following are things you need to know about houses for rent: Rent Agreement Rent agreement is a legal agreement between…

What Should I Know about Houses for Rent?
What Should I Look for in a Property Manager?
What Should I Look for in a Property Manager?
Posted 2 days ago

  Property Manager Obviously you want a qualified property manager who is well organized, reliable, and an expert with experience in their field. The following are a few things that you must consider while searching for a property manager to get the best fit: Get Referrals Just like any other…

What Should I Look for in a Property Manager?
What Type of Training Is Required to Be a Property Manager?
What Type of Training Is Required to Be a Property Manager?
Posted 2 days ago

  Property Manager Training A professional property manager needs to perform multiple tasks to ensure property is managed well and maintenance of the property is properly performed. A property manager who lacks fundamental training can make mistakes and will not survive in the industry very long. In order to avoid…

What Type of Training Is Required to Be a Property Manager?
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What Should I Know about Houses for Rent?

by Property Management Software on December 17, 2014


Rental Property
 
Rental Property

If you are planning to rent out your home, or want to rent your own property, there are certain things that you must be aware of. The following are things you need to know about houses for rent:

Rent Agreement

  • Rent agreement is a legal agreement between you and the property owner.
  • The agreement is usually made in writing, but sometimes verbal as well.
  • No matter whether you have a written or oral agreement, an agreement is a legally binding document which is enforceable through the legal system.
  • If you want to move out before the end of the lease period, you will be legally responsible to pay for the remainder of the lease, even if you do not live there any longer.




  • Security Deposits
    Most landlords want tenants to pay security deposits.

  • The landlords are legally allowed to collect a security despot to cover the cost of unpaid rent charges and repair in case you cause any damage, or in excess of normal wear and tear on the property.
  • At the end of your agreement, the landlord will refund your security deposit or submit a written itemized accounting of the money that is due.
  • The landlord need to return the security deposit to the tenant within a month i.e. 30 days of the time the tenant moves out of the property and turns in the key. The tenant has to provide the landlord with a forwarding address in writing.


  • Inspections
    Before you rent any property, you should and will be asked to inspect it property. Make a list of what you expect in your rented property and what you totally dislike. Here are some things to inspect and inquire about:

  • The interior and exterior condition of the building
  • Never finalize on any property without seeing it in day light
  • Check lighting in the halls, stairways, main entrance, etc.
  • Check whether it has fire safety provisions such as fire escapes, smoke alarms, etc.
  • Check the condition of electrical wiring
  • Check whether locks are functional on doors, screens and windows
  • Count the number of phone jacks and their locations.
  • Check the water pressure after turning on the shower, faucets
  • Check the size of the refrigerator to ensure it is large enough to meet your requirements
  • Check the condition of the appliances
  • Ask who is responsible for repairs and care of the lawn
  • Ask about the security guard or maintenance staff
  • All these above mentioned questions are very much imperative to decide the net worth of any property. Therefore, it is recommended to keep them in mind to get the best and profitable deal available.

    For more info and update please visit http://www.simplifyem.com

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    What Should I Look for in a Property Manager?

    by Property Management Software on December 17, 2014


    Property Manager
     
    Property Manager

    Obviously you want a qualified property manager who is well organized, reliable, and an expert with experience in their field. The following are a few things that you must consider while searching for a property manager to get the best fit:

    Get Referrals
    Just like any other job, you should ask for referrals. You can talk to other real estate agents and landlords in your area to get some good references. But always remember, references can be biased. So you must have ability to judge the potential of the candidate.

    Go Online
    You can also perform an online search for property management companies. Plus, there are many sites that ask you to fill in the detail of your property locations and generate a long list of reputable property management companies in your area. Instead of starting interviews, you should check their credibility on Yelp and their rating with the Better Business Bureau.

    Evaluate the Current Work
    First, check current rental ads posted by the property manager. Do the ads look professional and attractive to you? Do they advertise in different places or are limited to free sources only?
    After this, go to the actual properties he or she is managing. Check whether the properties are well cared for, or look messy. You can get some information by talking to the tenants about how well he manages and responds to complaints. You must also ask the property management company for a sample of the monthly report.

    Call Several Candidates
    Interview as many people as you can before you choose your property manager. This will ensure you find a reliable and comfortable person to work with. When your interview multiple candidates, you will be able to separate the good from the bad. During the interview, observe whether the candidate is receptive to your questions. Plus, you must ask questions about their education and experience, fee charges and their knowledge about landlord tenant laws.

    Check Licenses
    Many states require that property managers hold a real estate broker’s license or a property management license to perform duties such as rent payment collection, lease negotiation, etc. You should also know if he or she has been certified with a trade organization such as the Institute of Real Estate Management, National Apartment Association, National Association of Residential Property Managers or the Community Associations Institute.
    Apart from license, these organizations also offer certification and training programs. After evaluating their credentials, you should trust your instincts.

    Examine the Management Agreement

    You need to read the agreement thoroughly to ensure it clearly defines the responsibilities of the property manager. Discuss it during the interview and pay attention to each section and the services offered, any extra fees charged, compliance with housing laws and any reason for cancellation.

    Technology Compatibility

    In today’s era, when everything can be managed online, property management is not an exception. Many property management tools such as SimplifyEm help professionals manage their responsibilities online efficiently. You can receive rent from tenant, transfer to the landlord and generate various reports online.

    Read more update and related article only at http://www.simplifyem.com

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    What Type of Training Is Required to Be a Property Manager?

    December 17, 2014

      Property Manager Training A professional property manager needs to perform multiple tasks to ensure property is managed well and maintenance of the property is properly performed. A property manager who lacks fundamental training can make mistakes and will not survive in the industry very long. In order to avoid such mistakes and develop required […]

    Read the full article →

    Will I Need a Property Management Contract or Agreement?

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      Property Management Contract A property management agreement contains the roles and responsibilities a property manager or company is accountable for. When you hire a company to manage your rental property, you allow them to market your property and make decisions for you, including financial decisions as well. Hiring a property management organization provides you […]

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    10 Things That Should Make You Run from a Property Manager

    December 16, 2014

      Property Manager The help of a professional property manager can benefit you in several ways. As he or she is taking care of your property, you will be free to focus on the core business activities. It will significantly enhance the value of your property and can definitely increase your cash flow. But , […]

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    How Do Property Managers Keep Track of All Their Properties?

    December 11, 2014

      Property Manager When it comes to property management, commercial or residential, you must know how to keep records and manage all your rental properties. If you are responsible for managing a rental property, you will need a proper way to organize your finances or you can lose track of balances and other important information. […]

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    Can a Property Manager Help Me With the Upkeep and Maintenance of My Investment Property?

    December 11, 2014

      Property Manager Many landlords are aware what a Property Manager is, but many do not actually know what their responsibilities are and how they can help them with property maintenance. A property manager is a third party who is hired to handle the routine operations of a property. The responsibilities of a property manager […]

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    How Do I Become a Property Manager?

    December 11, 2014

      Become Property Manager Property managers are commonly responsible for leading all business-related responsibilities associated with a rental property. A property manager works with realtors, landlords and tenants. He or she is responsible for handling all parts of renting a residential or commercial property; maintenance and keeping all financial records for a property, including tax […]

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    Does It Make Sense for Me to Hire a Property Management Company If I Live Far from My Investment Properties?

    December 11, 2014

      Hire a Property Management Company Many landlords supervise and manage their rental properties on their own, but landlords like you who do not live in the same area or have other important responsibilities must hire a professional property manager to ensure well being of your property. Undoubtedly, property managers can benefit you in multiple […]

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    Are You Interested in a Property Management Career?

    December 11, 2014

      Property Management Career Being a property manager, you will be responsible for handling all aspects of the maintaining a rental property and ensuring it increases its financial potential. In short, the main aim of a property manager is to make the property run well and generate regular income. Properties, for example, rental apartments, commercial […]

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