Archive for February 2023

Common Mistakes to Avoid as a Property Manager   As a property manager, it’s important to avoid common mistakes to provide a high level of service to tenants and protect the financial interests of the property owner. Here are some common mistakes to avoid: Improper Screening of Tenants: Failing to screen tenants properly can lead…

Top Property Management Software and Tools   Many property management software and tools can help property managers streamline their work and improve efficiency. Here are some of the top property management software and tools: Building Engines: An all-in-one property management platform that provides property managers with tools for financial reporting, tenant communications, work order management,…

Environmental Sustainability and Property Management   Environmental sustainability is becoming increasingly important in the property management industry. Here’s how property managers can implement sustainable practices: Energy Efficiency: Improving a property’s energy efficiency through insulation, energy-efficient appliances, and smart home technology can reduce energy consumption, lower utility costs, and reduce carbon emissions. Water Conservation: Installing low-flow…

Ways to Increase Property Values and Curb Appeal   Improving your property’s value and curb appeal can help attract potential buyers and renters and increase its resale value. Here are some ways to increase property value and curb appeal: Landscaping: Maintaining a well-manicured lawn, adding plants, and creating outdoor living spaces can significantly increase a…

The Financial Aspects of Property Management, including Budgeting and Accounting   Property management involves a range of financial activities that are crucial to the success of any real estate investment. Some of the critical financial aspects of property management include: Budgeting: Developing an annual budget for each property and monitoring expenses is important for keeping…

How To Improve Property Rental Income   Improving rental income is a key goal for most property owners and Houston property management companies. Here are some strategies that can help you achieve this: Regular Rent Increases: Regular rent increases can help keep up with inflation and increase your rental income over time. However, keeping the…

The Basics of Rental Laws and Regulations and How They Apply to Property Managers   Rental laws and regulations vary by jurisdiction, but generally, they set standards for the relationship between landlords and tenants. Property managers are expected to be knowledgeable about and adhere to these laws to ensure compliance and minimize liability. Some of…

The Benefits and Drawbacks of Self-Managing Versus Hiring a Professional Property Management Company   Self-managing a rental property can provide a sense of control and a direct connection to the property and tenants. Still, it also comes with several responsibilities and challenges. Here are some benefits and drawbacks of self-managing: Benefits: Cost savings: You can…

What is a Property Management Agreement?   A property management agreement is a contract between a property owner and a property management company that outlines the terms and conditions of the relationship between the two parties. The agreement specifies the services the property management company will provide, the responsibilities of both the property owner and…

Understanding and Improving Resident Retention Rates   Resident retention refers to the ability of a property manager to keep residents in their rental units for a long time. Improving resident retention rates can have several benefits, including: Increased stability and reduced turnover costs: When residents stay in their units for longer, the property manager experiences…