In the era of ‘Netflix and Chill’ and the binge watch, it’s safe to say that most people are enjoying their television. With so much content out there you don’t have to go far to find representation, and property managers are no exception. While television property managers may be a little quirky, there are some good lessons that can be learned from them.
Everywhere you go, there are rules. Whether you’re at home or school or the mall, there are guidelines in place that people are expected to follow when present. Our society is structured around rules, and, without them, it wouldn’t be able to function. Your property is no different; when you allow a tenant to fill your vacancy, you expect them to pay the rent on time and respect your property in return. Everyone has their own rules for their rental, but consider these three popular rules.
Technology is a driving force in our society, a simple way for people to connect with timeliness and ease. With a cell phone or a computer, the world becomes your oyster and the sky is the limit. Some apps offer the opportunity for people to exchange goods or services, requiring little more than the touch of a few buttons. You are probably well aware of the home sharing app Airbnb, which allows ‘hosts’ to rent out part or all of their living space to travelers. While the service may be a lucrative option for some homeowners, it’s understandable that landlords and property managers wouldn’t want their tenants renting out a room in their home. But what do you do if you find that your renter is putting your property on Airbnb?
With year-over-year inflation rates reaching an average of 2.5% that means raising rent is inevitable for most landlords and property managers. However, it can be hard and you may feel guilty to pass the financial burden along to your tenants. Even more if they’re long-term, have a good track record, or are your friends and family. Here are four ways to increase rent without feeling guilty.
As a property manager, it’s not surprising that you deal with a lot of personal information. With a plethora of resident and applicant information in your possession, you can never be too careful with other people’s sensitive information. You require applicants to provide you with this personal data so that you can judge their candidacy for renting your property, but, in doing so you have to protect that information in return. While that might sound like an easy task in theory, there are always little details that can be overlooked and potentially risk access to the data applicants have trusted you with.
So how can you protect the sensitive information you’re charged with safekeeping for applicants and residents? While there is no foolproof way to safeguard data, there are measures you can take to defend the information in your possession.
In this day and age, nothing and no one is safe from the scrutiny of the internet. A person doesn’t have to search far to find a place to share their opinion on something, and it only takes a few seconds for them to share that opinion with anyone who cares to read it. But the internet isn’t just a place for someone to complain about a bad experience they had at their local retail store, and many consult these reviews before making decisions about where to shop, where to eat, or even where to live.
As a property manager, you’re understandably a pretty busy person. With so many units to manage, it’s not far fetched to say that you want to automate everything you possibly can to lighten your load. The right set of property management tools can be a godsend and help to simplify daily tasks that are essential to running your community.
As a property manager you work hard to look after your community and make it the best that it can be, so it would make sense for you to want applicants to like it as well. Many question what attracts residents to a property, and what one may lack in times of vacancy. With so many competitors out there, it makes you wonder what it is that pulls a potential renter to one property over another. Maybe it’s the types of incentives you offer that residents are looking for?
In this day and age, if you are in the Property Management profession you better know whom you are renting to. With over 25 years of experience in this industry we at Park Place Asset Management go the extra mile like never before. I suggest that you pre-qualify your applicants and tell them that you run an extensive investigative background check and will need to verify all information that comes up on the individual reports in addition to attaching your Rental Criteria to each application.
In this day and age, pets are just as much a part of the family as anyone else. People understandably love their pets everyday of the year, but, every April 11th, we set aside a day to really go above and beyond to show our furry friends just how much we care. National Pet Day is a day to turn your attention to your pets, as well as other animals in need or extra care or attention. You love your pets, just as your residents love theirs. Take advantage of this holiday to appreciate your furry friends and encourage your renters to do the same.
