We live in a world where communication is key, but not all businesses are good at it. Telecommunication providers, for example, are notorious for their annoying and barely-responsive customer services… if you can even reach them at all. It’s no different in the service-oriented real estate industry. PMCs are supposed to manage properties and tenants […]
If you’ve already come to the decision to end the relationship with your existing Property Management Company (PMC), chances are they’ve dropped the ball in several aspects of their job. They could be disorganized, bad at communicating, or failing to deliver the quality of service that was promised or expected. But often this gets even […]
With the warm months behind us and the weather cooling, it’s only a matter of time before winter snow and ice are here! The last thing you want is tenants calling you on a freezing January night, saying their pipes have burst, flooding the entire basement and ruining their stuff (which they want you to […]
Let’s take a look at some ways to handle overly needy tenants.. All properties require maintenance and repairs to meet acceptable living standards. Factors like the age of the property and the number of units and needy tenants will affect your maintenance schedule. Most tenants are mature adults and have read and understood their lease. […]
Mice, cockroaches, bed bugs, and the like, creep people out, so it makes sense that nobody wants them in their home. Having pest infestation issues is common and should not necessarily be seen as a poor reflection of your property—it’s just something you have to manage. Like water, pests will always find a way in. […]
Like a health physical, home maintenance is important for your rental’s upkeep and well-being. Property maintenance is just as crucial as property management, and it should be held to the same high standards to attract quality tenants. Your potential applicants research properties online or at least do a drive-by to see if they would enjoy […]
Airbnb actually now has more listing than hotels have rooms! Short-term rentals have become a booming business for people looking to make a little extra money. Online platforms like Airbnb have seen an explosion of property owners listing their properties. The rapid growth stems from travelers now opting for short-term rentals over hotels for a […]
You send your rent check every month, but have you ever really stopped to think where all that money is going? If you believe your landlord just puts it in his pocket, you’re sadly mistaken. Most reasonable tenants understand that landlords have bills to pay like mortgage and taxes. There are many other expenses to […]
As a property owner you need to raise the rent to protect and improve your bottom line, but raising rents is never easy. It can be a delicate issue. Being too aggressive may cause tenant turnover, and you’ll incur costs associated with vacancy. On the other hand, as your fixed costs like maintenance, insurance and […]
If you’re growing your property rental business, a time will come when it gets too much for you to handle all by yourself. The extra expense of a property management company may be unattractive when you only have a few rentals. Attending to routine maintenance calls, chasing nonpaying tenants and handling city inspections can eventually […]