Rental property managers know that Millennials now comprise an estimated 40 percent share of the rental housing market. A whopping 90 percent of Millennials rent. This group is saddled with student loan debt and faces soaring real estate costs but they may also simply be more comfortable paying rent than a mortgage after witnessing the aftermath of the subprime mortgage fiasco.
Property managers occupy one of the most important positions at any rental management or property management company. They are the first contact for tenants for many different issues while also overseeing the upkeep and management of the property and other employees. It is by no means an easy job and requires a combination of experience, commitment and people skills. This combination of hard and soft skills can be hard to define which can make finding the right employee a challenge.
Professional property managers doing business in a digital business world needs an easy-to-use, reliable tenant portal that provides quick access to renters looking for rental agreement information and more. Making sure tenants can quickly and efficiently access signed documents, financial information, inspection dates and more saves time and money and puts the information renters need right at their fingertips. Below we offer tenant portal tips to help professional property managers understand and better use this property management tool.
Real Estate is a lucrative investment opportunity. Rental properties in particular, can offer a high rate of return to investors. Does an investor who chooses to manage his rental property have the knowledge, experience, time and resources to manage it effectively? Can an investor, who is also the property manager, provide quality service to every tenant, while maximizing the greatest profit potential on his/her investment? Put bluntly, is taking on the role of property manager worth their time?
The average property manager has to deal with a variety of personalities among their rental clients. Most clients are responsible and respectful and communication is rare, perhaps only to report a broken appliance or to advise that rent will be a day late. Good property managers do everything they can to keep these kinds of renters happy by fixing things in a timely manner and keeping rent stable.
When managing a property the property manager and tenant relationship is very important. A great majority of the time things go smoothly; with a good property manager in place there may be very little going on aside from collecting agreed upon monthly dues and property upkeep matters. Occasionally, however, tenant issues may arise. When a tenant feels that his or her concerns are not being addressed, a petition may be the best way to get the property manager’s attention.
How to Write a Petition for a Property Manager
While investors might be tempted to think that all property managers are the same and thus proceed to settle for the cheapest option, this is not necessarily advisable. It is always important to take time and analyze different property managers to ensure that you find the best fit for your needs. Hiring a cheap property manager might look like the best option at the first thought but it might end up costing the investor or property owner a lot of money in the long run. This comes together with the headaches and hassles of dealing with managers who are not really skilled in their job.