By hiring a professional property manager, you can add great value to your rental property investments, which is why so many experienced real estate investors agree that working with a good management company is the best thing. Here are some of the most important benefits that landlords who work with property management companies have:
Risk management is one of the primary concerns that often overwhelm property managers. With legal and administration risks being the most common ones, there are many other risks that almost every organization has to encounter. In the most common risk scenarios, there are three possible strategies that you can follow: Risk Avoidance—You cannot choose risk avoidance if your actions seem too risky. For instance, in situations where a property manager is not purchasing property just to avoid the risks that come with them. Risk Control—Risk control is all about controlling or minimizing the risk by conducting regular inspections just to prevent the development of physical damages. Risk Transfers—It's all about shifting a person's responsibility to another, like your responsibility to the tenant or insurance company. In addition, paper lease, missed calls, property maintenance issues, and other screening issues are all responsible for creating risk. Here are a few risks that are associated with property management:
Every homeowner wants to have a year round blooming garden, which is not a difficult task in Australia. Our guide will help you have an all-season garden that is vibrant, lively, and bursting with colour. By doing a little bit of research, you will learn that there are so many different plants, shrubs, and flowers perfect for each season. The key to having a beautiful garden regardless of the season is knowing exactly what and when to plant. By being informed, you ensure that your garden will be blossoming throughout every season. We know that you are eager to roll up your sleeves and start working on your garden, but first, read our guide for expert tips on how to handle each season. If you are looking to sell or rent your property, you should know that a beautiful garden will boost your house’s curb appeal.
According to a study conducted by Hubspot, more than 90% of businesses confirmed that using real estate technology and social media marketing was essential for their business. Around 80% of them claimed that their efforts considerably increased traffic to their websites.
Do you know what your home is really worth? If you’re thinking of selling then it’s a good idea to book a property appraisal with a local real estate agent
Deciding when is the best time to sell your house requires not only research of market conditions but also,other factors such as lifestyle implications and more
Understanding these property management trends will help you stay competitive and protect your revenue stream. As a property manager you should always be willing to look at the possible changes and new technologies available.
Technology is transforming every industry, and facility management is not an exception. These days’ organizations have realized the importance of investing in the latest tech to establish more efficient ways of collaborating, making work more flexible and improving the overall organizational configurations.
If you're a property manager then its likely you're managing more than one property for your clients. Both the tenant and the owner are extremely important and communication is a key factor for success. Here are tips that can help property managers communicate better with the tenant and the owner.
This release sees new updates that will help you with even Faster Report Editing via the CMS, with the new Area Level Thumbs Up for marking conditions and an improved reporting functionality to Load Reports Faster. Let us know what you think of these new features!
Repairs and maintenance to rental propertys are one of the most common issues that cause legal disputes between landlords and tenants. As the mediator, property managers need to know and educate both tenants and landlords on whose responsibility it is to fix repairs and maintenance issues.
Routine inspections are a big part of a property manager’s day to day job. Along with the millions of other tasks they’re expected to complete, it can be tempting sometimes to rush inspections and assume everything is fine. No doubt this can often lead to some serious problems down the line, especially if tenants are hiding/performing questionable or illegal substances or behaviour. You can never be too careful when it comes to routine inspections. At Inspection Manager we compiled a list below of red flags or warning signs as a property manager to look out for when completing a routine inspection.
Staying connected with your tenants and building a trusting relationship is key to having better tenants, maintaining well-kept rental properties and being updated with any issues/problems on a rental property right away. Kelly, a Property Manager from LJ Hooker says “The best way to maintain well-kept rental properties with minimal issues is to form more trusting and better relationships with your tenants. Staying connected with check-in messages or calls to tenants is one step closer to a more transparent relationship.”
Routine inspections allow you to identify and address any maintenance or repair issues. This gives landlords peace of mind, knowing their valued rental properties are being maintained and carefully managed. The details recorded at routine inspections are also used as evidence in disputes between landlords and tenants. Therefore, in order to serve their purpose, routine inspections should to be done thoroughly and competently. At the same time, routine inspections don’t have to be a difficult process.
Property managers, do you feel like your work is always following you wherever you go? Even when you’re not physically taking your work home with you, it’s always on your mind 24/7. Work-life balance is a common struggle for property managers and a lack of boundaries often leads to burnout.
Copying, filing, searching, retrieving, refiling, sending, mailing and faxing… on average a property manager spends 20% of their time on paperwork. If you’re tired of doing things the hard way, you’re not alone. Many property management agencies have converted to/created a paperless office and have never looked back since. While the change may seem intimidating at first, here are some compelling reasons why your agency should create a paperless office today.
Being a Property Manager is hard work – you’re always juggling a dozen different tasks on a hectic schedule. Sometimes it’s so easy to get caught up in day-to-day commitments that you forget to focus on the bigger picture -where your career or business is heading. Attending a conference is the perfect way to receive some much-needed inspiration and motivation. There’s no better way to stay informed and network with experts in the property management industry.
What helps improve your property management skills? According to industry experts, it’s about avoiding a few common pitfalls. If these are overlooked, they may escalate into major problems, and can cause serious damage to your performance and wellbeing.
Inspecting multiple properties with the same layout & features? You can now utilise last inspection data from an inspection on a different property – perfect for duplicate layouts or new developments. Clone conditions and comments and save time.
Bricks are the most widely used materials for construction in Australia. While they are used for structural uses such as building walls, houses, and driveways, they also give buildings an aesthetic appeal. Despite that, bricklayer cost has not escalated compared to other trades in the last ten years. The fact that brick and housing prices have been historically high might be the reason for this. It is not easy to answer the question of how much a bricklayer may cost. However, you need to note that each job has a different cost. The cost of bricks depends on the complexity What is the of the task.
A tidy garden improves the beauty of your home and keeps you safe. As much as you can keep it clean using the DIY method, it might not be possible if you are busy. You might need to hire a garden cleaner. Garden cleanup cost can be around $45/hr. It depends with the requirements of the job. Sometimes cleaning a garden can be as low as $40/hr or as high as $50/hr. If you need services of a professional garden cleaner, it can cost you on average in Australia $164.84 to complete the whole project. However, this being an average estimation, rates can vary depending on the number of tasks involved.
A dirty roof can damage the appearance of your house. You might be tempted to hire a high tackle sprayer and go for the DIY method. This is a sensitive job, and it can destroy your roof in the process. You need to learn how professional cleaners do it and the roof cleaning cost too. This might make you wonder what the roof vacuum cost is. Here is all you need to know about roof cleaning.
It can be very challenging when it comes to choosing colorbond vs tile roof. With the many varieties of cement tiles roofs and metal roofs, many homeowners are left wondering which is the better option. Both metal and tiled roofs have benefits, and it is up to you to compare these and make an informed decision.
Your kitchen benchtop is a breeding ground for dirt and bacteria so daily cleaning is a must! But don’t just reach for the Spray and Wipe, certain benchtops can benefit from a more customised cleaning method. Here’s how to how to clean kitchen benchtops to keep them hygienic, as well as free from stains and scratches.
Negative reviews can be harmful to your property management business, and can lead to loss of prospective clients and revenue. We've put together some of the most actionable tips for handling negative tenant reviews.
Requesting repairs for a home can be tricky especially in case of a dispute between the owner and a tenant. Bricks+Agent takes the hassle out of chasing tradies, property managers and tenants, here's how.
Responsible borrowing and financial management can be the best way of paying off renovation debt. This guide will explain how to finance your home renovations and pay off the renovation debt.
For tenants, property managers who promise one thing and deliver nothing is unacceptable. As rental prices increase, so too do tenants' expectations on what exceptional customer service looks like. If you want to avoid these start using some of the tips above, and keep your tenants happy.
Ideas and trends that are shaping your business are likely to be disrupted by new and advancing trends in technology and old strategies may not work as well anymore. If you want to stop your business from becoming another statistic, try using these hacks for future-proofing your business.
Investing in property is a solid asset, which has the potential to increase your wealth over time. The reason it is very important to invest in the right property is that one small mistake can cost you a lot. Here are some tips to help you pick the right location for your next investment:
While you will be busy as a middleman between the landlord and the tenant, you will hire trade professional to solve issues at the ground level. Here are some of the things that you need to consider while hiring your property maintenance team.
How often do you clean your roof? Maintaining & repairing are ordinary activities you can’t avoid. This guide shows how to clean a colorbond roof and keep it new.
The business of property management does not need to be bogged down by the bureaucratic paperwork. Property managers need to consider these factors while choosing a property management software.
A tidy garden improves the beauty of your home and keeps you safe. As much as you can keep it clean using the DIY method, it might not be possible if you are busy. You might need to hire a garden cleaner. Garden cleanup cost can be around $45/hr. It depends with the requirements of the job. Sometimes cleaning a garden can be as low as $40/hr or as high as $50/hr. If you need services of a professional garden cleaner, it can cost you on average in Australia $164.84 to complete the whole project. However, this being an average estimation, rates can vary depending on the number of tasks involved.
A property manager must be a skilled juggler of numerous tasks, keeping both landlords and tenants happy. In addition to keeping properties maintained and in good shape, they are responsible for preserving a rental property's value. Although this job only requires a high school diploma, many customers will opt to work with a specialist who has a degree in real estate, finance, or business. We've put together a list of professional qualities a property manager needs hold to make the most out of a successful career.
Do you know who the average Australian property investor really is? Contrary to popular belief, it’s not the super wealthy property speculator buying up rentals left right and centre. In fact it could be your next door neighbour, the one who’s drinking XXXX and firing up the barbie. Don’t believe us? Let’s take a look at some stats to see if we can put together a clearer profile of this person….
Whether you’re a seasoned property manager with an impressive portfolio or a beginner, you want to grow your rent roll and increase your monthly rental income. Right? The good news! Fortunately, there are countless rent roll growth strategies scattered over the web. But the question is what actually works? Which strategies help deliver real results effectively in a hassle-free manner? This article shares several time-tested rent roll growth strategies that really work.
How do you feel about interacting with your home the way you would with a website? In the future your home will know who’s in what room, make your coffee and turn on your lights. It might even choose your clothes for you based on the temperature outside.
Are you planning on remodelling or renovating your house? If you are, you might be considering wallpaper, which has re-entered the style space this year. Available in a wide range of colors, textures, and prints, replacing old wallpaper or installing it in order to improve the property’s overall appearance could add value, attract more buyers and boost your home’s appeal.
Does your job revolve around customer satisfaction? Working in customer-centric industries like real estate, you will come across a lot of people and making a connection with the customer is vital to the longevity of your business. Establishing healthy customer connections is a fool proof formula for generating repeat business. Customers will come to you not just because they love your products and services, but because you offered them a smooth and convenient experience. The experts at Bricks + Agent have compiled a list of tips and tricks for improving customer connections.
If you're on the lookout for a new career path, becoming a property manager might just be the perfect job for you. Now more than ever, people of all ages are renting instead of buying, so the need for good and professional property managers is out there. A career in property management can bring a decent salary, job security, and steady employment, and if you like to work with people, then your success is almost guaranteed.
Cloud-based property management software is considered one of the most popular and powerful tools for many real estate agencies. But while it is quite popular among many businesses, the software can still be quite overwhelming and mysterious to many, which fuels many myths about it.
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