5 Ways to Grow Property Management Colorado Springs Firm

15. July 2017 Blog 0

The business of property management varies from state-to-state. A lot of property managers are well-versed in most of the different state laws, but eventually, they’re going to set their minds to one area.

In this article, we explore how best to grow property management company Colorado Springs firm to the best of your ability. If you want to be number one, all it takes is knowing how people work!

Pricing!

Consider pricing before anything else. This goes for property management firms across the country. Compare the different property management firms in your area (in this case, Colorado Springs), and see what it is they’re offering. Look at their pricing and then look at the ratings and testimonials about their company to see what it is they’re doing, and whether or not there are mentions that the pricing could be cheaper or that it was too steep for what they contributed.

The customer and client is always right because they’re the ones that are paying and they’re also the ones that will be the first to tell their friends about any bad experiences they’ve had much more than the good ones.

Marketing

It matters!

Branding, marketing, and even social media are all huge parts of running a successful business in 2017. You have to ask yourself who’s going to stand out more or who’s going to generate more leads: the property management firm with a badly done website or the firm with the website, twitter account, and physical flyers posted through doors to houses that have been targeted as being in the demographic of the kind of landlord slash client that you’re wanting.

Put simply, there’s a reason jingles still exist in this day and age, and while I’d never make the suggestion that you record a jingle or an infomercial, it is going to be extremely beneficial to take into consideration what will get your name out there and remembered.

Connect

Connect with your clients and landlords. Make sure they know that you can be trusted and work to build up that trust between yourselves. Trust is incredibly important and incredibly rare in the property management business. It’s almost as if a lot of PMs weren’t told that connections can be made.

Connections can generate leads as well as marketing can. Word of mouth can spread about your great your property management firm is because of you. If you listen to them, they’ll listen to you. There is no comparison to real trust.

Have a plan

There’s no benefit to any sort of business if you don’t have a business plan. This should be one of the first things that you worked out to do when starting your business. It should cover things such as accounts, book keeping, different ways of generating leads and marketing. It should be in depth enough so that you won’t run out of things to do in the middle of your first quarter and wonder where your money went. It pays to be prepared, and your clients will appreciate it too.

Be yourself

There’s only one you. There’s going to be a lot of property managers in your area, but there’s only one you. Even if you’re marketing in the same price range, have the same leads to your competitors, and may be feeling disheartened, you are your business, and property management can be as personal as any other business. It’s beneficial to put yourself into all of your sales and your connections. You want to be the go-to PM in your area.

All that’s stopping you is YOU.


Simplifying Huntington Beach Property Management

01. May 2017 Blog 0

Huntington Beach property management deals with the contradictions of Orange County, California – a laidback, beach bum reputation, but with all the trappings of nearby Hollywood and a healthy aerospace industry. This combination can lead to lucrative situations for property management. Huntington Beach is no exception, and while there are certain aspects of Surf City, USA, that may seem intimidating, there’s no need for experienced property managers to be concerned.

There can be a tendency to mythicize southern California, but when it comes to Huntington Beach property management, it’s best to approach the subject without being precious about it, or placing the area on a pedestal. Don’t overthink it. Anything that may be perceived as intimidating about property management in Huntington Beach can be overcome by studying the demographics and staying the course.

Rent and the Mythical Laidback Tenant

Property management anywhere concerns itself with the central issue of rent. It’s fair to consider the beach and the lifestyle that can come with it when considering Huntington Beach. If residents like to relax and go with the flow, that’s nifty, sure, but what does that mean for the property manager’s bottom line?

Demographics are key in answering this question. There are around 200,000 people living in Huntington Beach, and it’s safe to assume that most of them don’t contribute to that Surf City, USA, moniker. Over half of these residents are over the age of 40; nearly 20 percent of them are 65 or older. The average household income for Huntington Beach is over $100,000.

These numbers may not tell the full story, but they do reveal trends. For Huntington Beach property management, the trend is to deal with older, experienced professionals who, even if they enjoy a relaxing, go-with-the-flow lifestyle, know how to pay their rent on time.

Sustainable Property Management in a Tourist Town

Sure, calling a place Surf City, USA, gives certain impressions about it, but as stated above, there are around 200,000 people living in Huntington Beach, and that number is on the rise. The average cost of rent is also on the rise. That speaks to the city’s growing popularity with people who are looking to settle down there.

This gives property managers an abundance of high income tenants to choose from when filling a limited number of residences. Supply and demand at its finest insures quality tenants for property managers.

Additionally, property values are on a slight, but steady, upward trend. After a rocky handful of years following the burst of the housing bubble in 2008, things are back on track with no indication of falling off anytime soon. Not only is Huntington Beach far more than a tourist town, it is also a place where property managers can reside over sustainable growth.

Stay the Course

As with anywhere, Huntington Beach property management comes with risks and pitfalls. These are not unique to Huntington Beach, though, no matter how flashy the locale. The average income is higher than in most places, and that does provide an interesting clash with the perception of laidback Californians, but when it comes to Huntington Beach, the principles of property management remain the same.


Retaining Property Management Companies in Woodbridge VA is Rewarding

25. March 2017 Blog 0

If you own a piece of rental property or many rental properties, you know it can be a great experience that can generate a good, steady income. But it can also generate headaches and stress unless you’re lucky enough to have great tenants who pay their rent on time and don’t destroy the property they are renting. But, most times landlords can find that owning rental property can become time-consuming and stressful.

When you decide to use a property management company, however, you’ll find that it comes with a number of benefits for the landlords, especially if you own multiple properties. Using the best property management company in can not only save you time and money, but it can save you worry and stress, and it can make owning rental property extremely rewarding.

Benefits of Hiring a Property Management Company

One of the biggest benefits that come from using a property management company is that the management firm can handle the tenant screening. This means that you as the landlord won’t need to run the background check, credit check or financial history. When you rent to those who have good credit, a decent financial background, and no criminal background, you know that you’re eliminating problem tenants.

Another benefit of hiring a property management company is that they will handle the legal aspects of dealing with tenants and the upkeep of a property. Property management companies are well-versed on landlord-tenant laws in both the state and municipality in which the property is located.

A property management firm can and will handle problem tenants and evictions, as well as negotiate leases and lease terminations.
A property management company will also ensure that the property is in complete compliance with codes, safety and property laws. This can help you avoid legal issues and costly lawsuits.

Enforcement of the Lease

One of the biggest headaches a landlord faces is enforcing a lease, which is not going to be an issue when your property management company is working for you. Property managers will take care of dealing with the tenants who break their leases. If your tenants are not allowed to have pets, the management company can demand the pet be removed. If the tenant destroys the property he is renting, the property management company will ensure that the property is repaired in a timely fashion.

One of the biggest benefits of using a property management company is saving money, but the use of a property management firm can also provide for peace of mind and less stress. Being the owner of rental property can be extremely rewarding, and hiring property management companies in Woodbridge, VA can help you get the most out of being a landlord.


Finding a Safe Property Management Business in Alexandria VA

21. February 2017 Blog 0

Alexandria, Virginia is a busy hub of activity that has been experiencing exponential growth in the past few years. Because it is situated so close to Washington, DC, many federal workers have chosen to escape the hustle and bustle of life in The District, opting for the more relaxed, laid back vibe of Alexandria. This has been a great boon for property owners as more and more people flood the area seeking rentals.

Many property management companies have also cropped up in response to the incredible growth and promise of plenty of work. Unfortunately, not all of these companies are on the up and up, leaving property owners leery of entrusting their real estate investments with anyone. Finding a reliable, safe property management business in Alexandria VA is simple though. This guide will help.

Look for a company with a good reputation. Unfortunately, many people simply do not do their homework. Signing with a property management company is just like any other proposition. You are entering into a business agreement with that company so you need to ensure that it is reputable. A little internet research can go a long way in this case.

Take some time to check for complaints with the Better Business Bureau in Virginia as well as any complaints with state real estate associations. Some of that information can be very telling and a few minutes of searching can save you a lot of irritation in the long run.

Ask other property owners for recommendations. Talk to other property owners and see which companies they work with and how satisfied they are. Often property owners will be happy to share information on great management companies that they work with as well as companies that don’t make the grade.

Ask real estate professionals for recommendations. Not all real estate agencies are property management companies, but because they are closely related and often do overlap, many agents will at least have some ideas of the most popular companies as well as companies you should avoid.

Take a look at their track record. As they say, the proof is in the pudding. Take a look at the company’s work firsthand and see if it meets your standards. Visit some of the properties they manage, talk to their on site staff, and really get a feel for the work that they do. If you can talk to some of their actual tenants, that’s even better. Often the tenants will give you great insight into how well the property is managed and maintained.

While cheap rates may be very tempting, remember that you get what you pay for and the cheapest company may not be the best for you. In other words, don’t let price have too much of an influence on your decision. Your best bet is to rely more heavily on reputation and customer satisfaction. Those two qualities alone are worth their weight in gold when they are done right. You can find a safe property management business in Alexandria VA, it just takes patience, diligence, and a little investigative prowess.


Convenient Guide to property management Fairfax VA

16. January 2017 Blog 0

Located in the suburbs of Washington DC, Fairfax, Virginia is one of the top places to live in the US. Fairfax consists of a variety of residential and commercial properties. As a property owner, it is important to choose the best management companies to oversee your properties.

As you explore your options, this guide to property management Fairfax VA may help you narrow down your search.

Circle Property Management

Circle Property Management is a full service property management company, licensed in Virginia since 2008. The management company has many cost effective options. Circle Property Management uses a “soft touch” reminder program, which includes sending 11 emails per year to tenants. These emails remind tenants of maintenance responsibilities such as filter replacement, gutter cleaning, winter preparation and spring cleaning.

Utilizing the soft touch reminder program helps landlords to save on maintenance repair costs. Circle Property Management keeps properties well-maintained by:

  1. Finding qualified tenants
  2. Managing property
  3. Handling accounting

Circle Property Management has three affordable plans available to property owners:

  1. A La Carte (base level)-some guidance, professional resources when needed
  2. Turn-key-the ultimate service plan; all services grouped into one affordable monthly fee
  3. Flat Fee-includes most services; discounts on leasing

All three property management plans include rent deposits, owner income disbursements, Federal Tax Form 1099, Year End Statement, and online maintenance requests.

Real Property Management PROS

Real Property Management PROS has leased and managed 900+ properties in Northern Virginia. The management company assures quick property rentals, with an average of 14.2 days to find a qualified tenant to rent your property.

Real Property Management PROS provides timely dispersal of rental proceeds, maintains property while following rules and regulations of tenant/landlord law. With over 25 years of experience,this company is reliable, professional, and technology driven.

To eliminate hassle for property owners, Real Property Management PROS provides the following full-service property management:

  • Monthly rent collections
  • Monthly accounting statements
  • Remote online account access
  • Property inspections
  • 24/7 on-call emergency maintenance
  • Legal issues/evictions
  • Lease enforcement
  • All communications with tenants

WJD Management

WJD Management has provided Northern Virginia property management services since 1985. WJD simplifies life for property owners with professional and dependable service.

WJD Management’s property management services include:

  • Detailed rental market analysis
  • Marketing process, which begins 60 days before property is available to rent
  • Showing of property by rental agents (evaluation of tenant needs)
  • Qualification of tenants (employment verification, contact previous landlords, credit check)
  • Lease preparation
  • Tenant Handbook
  • Rent collection
  • Inspections
  • Maintenance
  • Accounting (your share of rent sent electronically to your bank account on the 6th of each month)
  • Investment Information (help evaluating real estate investments before your final decision)

The importance of inspection for Arlington VA property managers

23. December 2016 Blog 0

It is important for a property manager to schedule regular inspections of properties. As a property owner, you might be oblivious to the immense damage that tenants might cause to your property within a short period of time. It is common for most property owners to assume that everything is fine as long as the tenants are paying rent on time and they are not complaining about anything. You might be tempted to take things for granted or make assumptions about the status of your property. However, experts in the property management business warn that doing that will only make things worse for you because you will be unable to curb undesirable tenant behavior or identify problems and fix them early.

There are several types of inspections that should be conducted on your property. These are move-in inspections, occupied inspections/ check-up inspections (routine safe and clean inspections and drive-by inspections) and move-out inspections. The move-in inspection as the name suggests is conducted when a tenant moves into the property. The tenant is the one who carries out the inspection. They check out the place and note any problems that they would like fixed and deducted from their security deposit when they will be moving out. This type of inspection is of paramount importance and should not be skipped at any cost because you do not want the tenant to say later that they did not know the condition that the house was in when they moved in. the tenant fills and signs the inspection sheet and then hands it back to the manager for documentation purposes.

Occupied inspections take place when the tenant has already moved into the apartment. The property manager has to give tenants a notice before conducting this inspection. The safe and clean inspection is normally conducted after every 3 to 6 months. It is done with the aim of finding out the issues or damages that the tenant has caused on the property during the course of their tenancy as well as the ones that are a responsibility of the property managers such broken appliances or leakages. Once the inspection is completed, the tenants must sign and attest that the information in the inspection sheet is accurate. The other type of occupied inspections is referred to as the drive-by inspections. It entails a random visit by a property manager to the property without going inside the premise. They simply observe the property while driving by. This type of inspection is meant to catch tenants who do not comply with policies off-guard because unlike in the safe and clean inspection where tenants have time to get rid of prohibited things like pets hence avoiding consequences.

Lastly is the move-out inspection which is carried out at the end of the lease agreement. During the inspection, the property manager walks through the property together with the tenant and evaluates the state of the property. The property manager conducts a thorough inspections and checks every inch of the property for damages which are then documented with proof to support it. The tenant is also required to sign the inspection sheet as in other inspections.

Back to the question of what benefits will the property manager gain by scheduling these three types of inspections. It is apparent that the process is crucial to managers because they will help property owners avoid costly lawsuits which will be good for their property management business.


THE QUALITIES POSSESSED BY BEST PROPERTY MANAGEMENT NORTHERN VIRGINIA

19. December 2016 Blog 0

Property management in Northern Virginia adds substantial value to the property owners, and it is the reason why seeking the services of the property managers is highly regarded. Below are the several reasons why you need to sign up with the property management firm.

Tighter rent collection process

Hiring the services of the property manager enables you to have consistent cash inflow by enabling to apply strict measures to collect the rent at the end of every month. Your property management firm will be responsible for ensuring the tenants follow the rules and understand that the rent must be paid every month and even evict the ones that pile up the rent. The tenants are more likely to follow and listen to the property manager’s rules and understand that they are only adhering to the rules of the property managers.

Excellent tenant collection

The property managers have the experience of knowing the best qualities when selecting the candidates for the vacant units. They also understand the best maintenance techniques that will keep the tenants such as painting of the walls, putting the best quality locks and marketing the property. The property management Northern Virginia knows about the best policies and techniques that will enable the tenants to remain in the same units for a long time. The reason for this efficiency is because the property managers have the experience of applying consistent and systematic methods and techniques.

Assisting with the taxes

The property manager will guide you through the process of filing of the taxes and also make you understand the deduction you can claim. They can also arrange for you to fill in the documentation and the necessary forms to file the taxes and make the claims. Additionally, in most states, the fees of the property managers are tax deductible.

Fewer and less costly legal problems

Many experienced property owners understand that one tenants can cause deep trouble for you if they engage in the legal process. A good property manager is equipped with the knowledge of latest laws concerning the landlord-tenant relationship. The property manager should understand the laws and regulation regarding the situations to do with evictions, inspections, termination of leases, the safety of the property and lease addendums.

Lower and timely maintenance costs

The property managers know the right vendors who will offer the right services for the repairing and maintaining the property. By signing up with a property management firm, you will have access other real estate dealings such as the insured contractors who have quality services and fair pricing. The contractors will also be able to offer the services at faster rates because they understand that failing to impress their clients (property managers) will lead them to lose the long-standing trust between them and therefore lack of job.

Increase the property value

The property manager will increase the value of your property through maintaining your property early enough. The management company will also be able to ensure that the property is regularly maintained while updating the owner about the modifications and upgrades.

Reducing rental headaches

The property managers will take care of all the headaches involved with rent such as increasing, collecting and finding out who has paid or not. Property investment has the probability of increasing your wealth in the long-term period but if you fail to manage effectively with the help of a property manager.


Rules for Property Management Washington DC Companies: Things to Know

16. November 2016 Blog 0

Today, many people are interested in the real estate market, especially in the rental property market. Buying condos as an investment can be quite profitable, since condos are very popular these days and many people prefer staying in condos rather than in detached houses. You may lease the condos for a specific rental fee per month or redecorate to resell them at a higher price and profit. No matter what investment method you choose, you should study the market well before making any decision. If you are still a novice in real estate investing, you should seek help from a professional real estate agency. The agency will look for promising new homes on the market and manage all your properties for a small fee per month.m4
Finding a Distinguished Washington DC Property Manager

If you are into real estate investment in Washington DC but have limited knowledge and experience, you should consider hiring a professional property manager to help you manage the business. Although you can manage the properties yourself, using a property manager is recommended since the manager has experience and expertise to make your investment a profitable one. Here are some tips to help you find a distinguished Washington DC property manager.

Do Your Own Research

This is by far the most important step to finding a distinguished Washington DC property manager. You may ask for referrals from friends, relatives and colleagues , but you should spend enough time doing researching on your own. The Internet offers you unlimited resources to help you pick a suitable property management company. There are many places where you can read reviews of different real estate companies written by past and current customers. There are good reviews and bad reviews, but overall, these reviews will help you gain insight into each company and make a wise choice.

Consider the Options

Before making a choice, you should carefully weigh in different factors, such as the reputation of the company, track record, customer service quality, location of their office, their property management fees and management style. Each property management company is different, so you should contact each directly to learn about their management style as well as company culture.services1

You should personally meet with your prospective property manager and conduct a small interview to make sure he or she is a good fit. Is the manager professional and friendly? Does he manage clients’ properties in a honest and transparent way? What are the terms of the contract? These are the questions you need to find the answer to. You should discuss everything with the potential manager before you decide to sign the contract. A good property manager will answer any question you may have without feeling uncomfortable or irritated. There are many rules for property management Washington DC companies, such as homeowner association and condominium laws, professional obligations to follow. Make sure you discover the professionalism and legal status of a potential management service before hiring them.

With due diligence, you will be able to locate a good property manager to work with. Remember that a good property manager can make a difference between success and failure.


The Key Ingredients to Success for Property Management in San Diego

08. October 2016 Blog 0

Are you looking for a way to make your property management company stand out better than anything else? Well then you’re in the right place, because that’s the goal we all share, right? We want to make sure that we have what it takes to attract a client to our business so that we can really show them what we’re made of. That’s where the key ingredients for success come from.services1

 

The one big key ingredient to success for property management companies in San Diego is making sure that you are always looking for new business. Never stop seeking out potential clients and definitely never stop showing them everything that you can do. You want to constantly surpass their expectations because your clients are counting on you to accomplish great things for them. They are trusting you with their property and the more you’re able to do to improve things for them the more property or responsibilities they may be willing to turn over.

 

When you are working with a client you also need to make sure that you are completing the right work in the right way and that means making sure that you communicate continuously. Clients want to know that they are trusting the right person and being able to communicate with you and hearing your questions means that they know what you’re doing and they have a better understanding of how you’re going about helping them. More communication, as long as your client hasn’t requested that you handle things by yourself, will always help improve the relationship you have.

 

Next, make sure that you’re treating the property the way you would want someone else to treat yours. That means making sure that only the best companies are hired for services and good tenants are chosen as renters. You don’t want to spend a lot of time and effort on a piece of property for your clients and then find out that the tenants you chose aren’t taking care of it themselves. This will look bad on you as the property manager and it’s also going to look bad for your client as the property owner if anyone else happens to come by.

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The more you do for your clients and their property the better it’s going to look for you and the better you’re going to seem to others who are looking for similar services. Make sure that you’re always treating every property as if it’s the one making your living and you’ll have the right impact on others who are looking for your type of services. They’re going to see what you have to offer and they’re definitely going to want that type of service for themselves and their properties, whether residential or commercial. This is going to bode well for you and it’s definitely going to mean that you get the business you need to keep your company running.

 

The key ingredient to success is that there are many aspects associated with your success and the more you put into it and work at driving your sales and success, the better you’re going to do overall.

 


Ready to Hire a Professional Colorado Springs Property Management Company?

28. September 2016 Blog 0

 

If you’re a property owner and you’ve been handling the business of being a landlord, perhaps it’s time to hire a professional Colorado Springs property management company to handle renting your property instead. There are many good reasons for doing it.

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Not Having to Find Renters

 

One of the big reasons for going with professional Colorado Springs property management company is to not have to look for and vet renters. This can be a real hassle when you have multiple properties and other jobs. You have to take time out of your busy day to interview prospective renters, chase down their references, look up their credit history, and other things that take time. And if this is your first time renting property, you may not have thought of everything to check into to ensure that you are getting a quality renter.

 

Professional Colorado Springs property management companies already have the knowledge and experience to find good renters. They know the ins and outs of the rental process and they do the advertising for you. They have professional contracts that will ensure you get your rent payments and are legally protected if there is damage to your property.

 

Not Having to Deal with Renters

 

Dealing with renters can be a real hassle. Collecting rent, fixing broken items, and other day to day management can take time out of your day. That’s why a professional Colorado Springs property management company is so valuable to you. The property management company provides an insulating layer between you and the renter. You get your money on time and you don’t have to worry about fixing something on the property if it breaks. The property management company takes care of hiring the serviceperson who will be doing the repairs, or buying and replacing broken appliances. Yes, you pay for the fixes, but it’s better than having to worry about scheduling and finding the person you need to do the job.

 

If the rent is late, the management company handles dealing with the renter and making sure that the renter will pay. They’ll handle evictions and collections on your behalf as well, in many cases.

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Think of it as Hiring a Landlord

 

You’re renting your property to make money, not to play landlord to a group of renters. Whether you have one piece of property or several pieces of properties, it makes sense to hire a property management company. No one can be experts in everything, which is why you do what you do, and property management companies do what they do. It’s like hiring a landlord to handle your rentals. You deal with the property management company and the property management company deals with renters. What could be simpler?

 

If you’re busy with your own job or business, take this one time sink off your plate. Have a professional Colorado Springs Property Management Company rent your property for you. Then, you can stop worrying about your property and instead focus on more important things in your life such as your family, your work, and your business.