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Tim Wehner is a former president of the National Association of Residential Property Managers (NARPM ). While hes no longer on the National Board of Directors, his experience in property management and expertise on all things NARPM make him a valuable source of information. Start us off right, Tim! Tim : Absolutely.
As a property manager, you already know that, to find new clients and tenants, youll have to meet them where they are. Let’s dive into some social media strategies for property management to help you broaden your reach and better engage with your audience.
If youre considering starting your own property management company, you may be tempted to look into property management franchises. In this article, well explore some things you should keep in mind if youre thinking about being a property management franchisee. They are certainly an easy way to get your foot in the door.
This powerful tool allows property managers and investors to defer capital gains taxes by reinvesting the proceeds from the sale of an investment property into a like-kind property. Increased Buying Power: With more capital to invest, property managers can acquire higher-value properties or multiple properties.
If you put the tips in this article into action, you will use AI tools to draft emails, letters, social media posts and listing descriptions better than 99% of property managers. Where to use AI in property management The great thing about AI is that if you can use it for one application, you can use it for many.
The property management industry is becoming increasingly competitive, and standing out requires a strategic approach to marketing. Heres how to go from invisible to irresistible by helping property owners find, like, and hire your company. The path to growing your property management business lies in a thoughtful marketing strategy.
Thats probably why you’re asking the big question: What states dont have property tax? Because lets be honeststates without property taxes would change everything for investors. Some of the states with the lowest property taxes, like Hawaii, tend to have exponentially high property values, so their mortgage rates may be higher.
AI in Property Management: Separating Hype from Reality Artificial Intelligence (AI) is revolutionizing various industries, and the property management business is no exception. However, amidst the excitement, it’s crucial for property managers to distinguish between what’s merely hype and what genuinely delivers value.
This week marks my 10-year anniversary — a full decade — of working in property management marketing. Marketing your property management business isnt as simple as setting up a website and hoping owners will find you. In the past, content mainly referred to written blogs and articles.
In the following article, we will explore whether landlords can legally impose a pet deposit for assistance animals and discuss the legal framework that safeguards these vital companions. Compliance and Standards Landlords must ensure they comply with FHA and HUD guidelines while maintaining their property standards.
In the previous editions of our property management software buying guide, we covered the basics of how to compare property managers, from key features software should have to assessing pricing models and customer reviews. We also explored specific considerations for multifamily property management software.
If you have questions about RentCafe websites or how to stand up a great new website for your property management business, stick around. These websites make it easy for them to market their company and properties to potential renters and investors. We offer two types of marketing websites: corporate sites and property sites.
Contents of the Article Virginia State Capitol Maymont Carytown Belle Isle The Edgar Allan Poe Museum Lewis Ginter Botanical Garden Scotts Addition 1. As the top property managers in Northern Virginia , we can help you find your way around it. If you’re ready to explore, here are the best places to visit in Richmond VA.
As the new year begins, property management professionals have the opportunity to reflect on foundational practices that ensure both compliance and operational excellence. This article explores the essential role of policies and written responses, offering a timely reminder to recalibrate for the year ahead.
Success in property management often comes down to planning. Thats especially true when it comes to marketing your business and the properties in your portfolio. This post will walk you through how to craft a winning property management marketing plan tailored to meet your specific business needs.
Digital marketing might just be the most common and accessible way that property managers can reach prospective owners and tenants. The Importance of Digital Marketing in Property Management When property owners and renters begin their search for management or a rental unit, they usually start online.
Property management and the essential role of policies, written communication and procedures for the year ahead. By The Fair Housing Institute As the new year begins, property management professionals have the opportunity to reflect on foundational practices that ensure both compliance and operational excellence.
Property management professionals recently came together for an AI experts roundtable where they discussed their experiences with AI, how it's being utilized in their respective fields, and the challenges faced when integrating it into their operations. Read the article to uncover the main takeaways.
Buying property management software can be a big investment and—like any big investment—you want to be sure you’re making an informed purchasing decision, one backed by advice you can trust. Where do you find property management reviews in the first place? Theycan even be influenced by software companies.
Its an important oneand in this article, were breaking it down. As a property management company in Washington, D.C., in the eyes of the law, anyone paying to live in a property is considered a tenant. For instance, this could look like not paying the rent, breaking the agreement rules, or doing anything illegal on the property.
As property markets evolve, the competition for tenants becomes fiercer, making it essential for landlords to master the art of maximizing visibility for their rental property listings. Choosing the Right Platforms Today,online platformshave become the go-to spaces for property hunting. Need a Lease Agreement?
In this article, well walk you through RentCafe Flexible Rent, including how it works, the benefits for both you and your residents and the resources available to help you communicate this option to your community. Flexible rent benefits for property managers One of the biggest expenses for property owners is resident turnover.
This tool lets you add notes right to your calendar, and it organizes everything you write in one convenient report.This article will show you how to add, find and keep track of information. How to find the Activity Feed Simply select any owner, property, tenant or vendor in your portfolio.
Technology has fundamentally reshaped the way property managers and their staff interact with residents. With new advancements in artificial intelligence (AI), many tools that properties use for payments and resident communication are being upgraded.
Have you ever wondered how to quickly assess whether a tenant can afford your rental property? In this article, well help you understand how to calculate the rent-to-income ratio, why it matters to you as a landlord, and what to do if a tenant doesnt meet the threshold. As experienced property managers in Washington, D.C.,
Did you know that blogging, with special attention to local SEO, can also be a powerful tool for property managers looking to attract new clients? This means that if someone in your city searches for “[your location] property management services,” you want your company’s website to show up as one of the top results.
This pause gives businesses a temporary break from the reporting requirements discussed in this article. What follows is our article in its original form. By that time, property management business owners should be ready to go. This article covers where that leaves you and what you can do to avoid penalties.
Rebranding can be an exciting milestone for your property management companya chance to modernize your image, expand into new markets, or better reflect your vision. For property management companies, SEO is important because it helps attract property owners and tenants searching for services in your area. What is Rebranding?
In this article, we’ll explain what vacancy loss is and why it matters, how to calculate it, its common causes and solutions, and even answer frequently asked questions. It can make your property less valuable, increase your expenses, and make it harder to attract tenants. You need to steer the ship, and quickly–but how?
There are many ways to assess the success of a rental property, but one of the most effective, tried-and-true ones is the rental yield. This tool helps investors determine how much income a property generates in relation to its cost. In turn, this offers a clear, succinct snapshot of a property’s profitability.
Original article What is the Corporate Transparency Act? This article covers where that leaves you and what you can do to avoid penalties. Why compliance can be tricky Many property management businesses have complex ownership structures that can make reporting tricky. As things stand today, the CTA is being challenged in court.
Transitioning your property management company to a new software provider is easier than you might think. This article explores the necessary steps and tips to prepare organizations of any size for new property management technology. However, it still requires ample planning to ensure a smooth migration.
So, in this article, well break down what a notice to quit in PA is, when landlords can issue one, and what happens after its served. That said, when the violation is severe or legally non-curable, such as illegal activity or serious property damage, the landlord may still have grounds to evict the tenant.
Ownership Transfer and Responsibilities When an HOA member passes away, the property is usually passed down to an heir or a designated beneficiary via the homeowner’s will or estate plan. Do Inherited Properties Still Require HOA Dues? Property inherited by relatives or other beneficiaries is subject to HOA rules and dues.
As the demand for housing continues to rise, property managers face the dual responsibility of maintaining occupancy standards and adhering to fair housing regulations. Occupancy limits are a fundamental tool used to ensure the safety, comfort, and well-being of residents while safeguarding property integrity.
But what if someone was living in your property without you even knowing? In this article, well walk you through exactly what phrogging is, when it happens, what signs to watch for, and how to keep your property safe. As our rental property management in Northern Virginia can tell you, phrogging is a real problem.
Smoking and housing policies often intersect in ways that raise questions about resident rights and property management responsibilities. While marijuana use for medical purposes introduces its own complexities, this article will focus specifically on cigarette smoking and how the FHA applies in these cases.
Furnished Finder Fees: What You Need to Know as a Property Owner By The Hospitable Team OTAs Looking for a way to fill the gaps in your Airbnb booking calendar during a shoulder season? Depending on where your STR property is located, a smart decision may be to experiment with hosting guests mid-term. Sign up now!
These companies provide a way for individuals to invest in real estate without directly managing properties. ”this article will walk you through everything you need to know. Mortgage REITs : Invest in property mortgages and earn from interest payments. What Is a REIT and How Does It Work?
’ Whether you’re renting out one property or several, understanding taxes is crucial for your business’s health. In this article, we’ll cover the core tax tips every landlord should knowfrom what counts as rental income to how to track your expenses and deductions. Read below to learn more!
For some, this may mean working out more often or starting a new hobby, but for otherslandlords and property managersit means organizing finances and preparing for the upcoming tax season. Luckily, theres an easy answer: Property management accounting software. But which option is the best landlord accounting software for you?
Article Contents Key Features of a Duplex Benefits of Investing in Duplexes Tips for Buying and Renting Out a Duplex Key Features of a Duplex What is a duplex, anyway? property management companies often manage duplexes, so we can walk you through the biggest features that differentiate this multi-family property from other housing types.
NARPM’s research shows that top property management companies have RTMs as 65% of their workforce. In this article, we’re going to teach you what you need to get started with hiring RTMs and skyrocketing your profits. And a specialized employee in property management is going to earn even more. you need to train them on it.
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