8 Dec / 2014

Tips for Managing Your Columbia Property Management Company

Starting a Columbia Property Management company is easy, but the main point is its management. For property managers who wish to manage their companies properly, it is important to have an understanding of both small and large businesses. You need to understand how it is possible to manage profit potential, employees, paperwork, finances, and business budget. Apart from all basic business requirements, it should be possible for property managers to manage the needs and requirements of property managers/investors.

Property Management

The first step for correct property management should be taking care of all common management skills which includes collection of rents, maintenance of properties, payment of taxes, maintaining correct records, screening and selecting tenants, and keeping the residents happy all the time.

Once you start your Columbia Property Management firm, you should keep looking for new properties to manage. This is the best way to increase your business. And manage all the legal formalities related to your business like paperwork, signing agreements, and alike, you will need a lawyer by your side. If you have a large scale business, it is best to have a full-time lawyer by your side to take care of everything. But small scale property management companies can have a lawyer who they can refer from time to time. They will solve all your tenant related problems, make sure all laws are met, and your firm runs smoothly.

Now another point that is extremely important in running your business smoothly is payment of bills and taxes on time. It is important to clear client’s bills timely as it can make a huge difference. Even a small mistake can cost you a lot, and you might end up damaging your relationship with your clients.

Timely collection of rents from residents is also important. If you want to be a professional Columbia Property Management business, you must collect rents from tenants in a timely manner each month. To make things easier, you can provide an automatic rent deposit option to all. And apart from this, you need to keep records of all these things.

Timely repairs and maintenance should be carried out in a timely way. If tenants complain about any minor or major repair issues, they must be dealt with carefully. It is best to maintain great relations with contractors and vendors who offer quality and cost-effective services. Develop relations with these handymen and you are sure to take care of emergencies easily. Make sure you also carry out property inspections from time to time as then only you would be able to make sure if the properties are properly being taken care by the tenants.

Lastly, you should ensure that all contracts are up-to-date. Get the contracts read by the lawyers and see if the laws are met or not. Also, you should see if the tenants are happy as happy tenants choose to stay for longer and this will in turn benefit the property. Maintain great relations with both tenants and property owners in order to run your Columbia Property Management company properly.

19 Mar / 2013

Defining Property Management and Its Software

Have you ever heard of property management? How about property management software? These are just some of the jargons used when it comes to real estate business.

Property management means managing different types of properties such as commercial, industrial and residential that involves two key players in the business. These are the landlords and the tenants. The landlords monitor their tenants, collect rent from them and help address their client’s problems. The tenants are those that rent a vacant space in the property. This system has been going for several years now without any significant changes except today with dawn of property management software.

Firstly, the software on property management helps in monitoring tenants’ payment history thru an online payment history feature which tenants can access using their personal account on the community website found on the internet. This special feature allows them to view their previous payments as well as the current status of the present month. As an added feature for landlords, they can send email notifications to their tenants reminding them of their past dues as well as a payment that needs to be made for the present month.

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Secondly, the software is in charge of collecting the monthly rent instead of the landlords making it more convenient for latter with its online payment option. Just as the name suggests, it provides 2 options when making payment which is either thru the use of any major credit card or electronic check allowing them to pay from just about anywhere. They can also pay at any time of the day everyday of the month. Using this software definitely is a time and money saver as it spares landlords from having to travel just to collect rent.

Lastly, the software serves as a venue for the exchange of significant information between the landlord and the tenants. It permits tenants to send their individual concerns directly to the landlords in the hopes of a speedy response from landlords who religiously must address their replies. They can also post important information on the community website to address the general concerns. Such a system definitely helps in bridging communication between landlords and tenants.

Thus, property management software is indeed very helpful in a property management business. It monitors tenants, collects rent from them, and provides a good location for communication between landlords and their tenants. It’s definitely something worth investing on if you have this kind of business. Visit http://propertymanagementvc.com and experience the convenience of online property management tools.

19 Mar / 2013

Property Management Software: The Convenient Way of Doing Business

In recent years, technology has brought us change. Because of technology we enjoy modern conveniences like cable televisions, computers, internet, cell phones, air conditioners, washing machines and other awesome inventions including software that aids in doing property management business called property management software.Managing properties has never been easier. Landlords don’t have to travel miles away to collect monthly dues from their tenants. Delayed payments can be avoided and records don’t need to get lost every time with property management software. It’s because this software gives them the convenience they need while doing the business. The software keeps landlords and tenants informed with regards to rent payment and other concerns. Landlords can monitor their tenants’ account history so they know who has paid rent and who hasn’t for a certain month. They can then send notifications thru email reminding tenants who haven’t paid yet to make their payment. Tenants can check on their personal accounts thru the community website which they can access thru the software. Once there, they can read their tenant’s email notifications and general announcements, make any changes necessary to keep it updated and look at their previous payments in the online payment history section. Additionally, the software has a real time reporting feature that instantly uploads any new information submitted for timely display of information.

Furthermore, it encourages remote transactions which are its main goal. Landlords can immediately receive payments without having to travel saving them time and money as tenants pay them thru credit cards or electronic checks. With credit cards, tenants have the option to avail of auto debit or a resident-initiated fund transfer. Tenants who choose to use auto debit will have a fixed amount of money from their account transferred automatically on a fixed date every month to the landlord’s bank account. Those who opt to select a resident-initiated fund transfer on the other hand will have to transfer the payment to the landlord’s bank account every month by themselves. Also, tenants can choose to pay using electronic checks that only asks for their bank routing and account numbers from their personal checks to make the transfer. So if you’re a landlord who wants a more convenient way of handling your business, you should definitely use property management software. It keeps both you and your tenants informed and it encourages remote transactions making everything up-to-date. It’s definitely the future of property management!

19 Mar / 2013

The Key to Pick Property Management System?

Maintenance and management are two key functions that really should be given importance in each real estate enterprise. Sadly, it isn’t taken seriously by some home owners either simply because of the lack of knowledge about home management or the insufficient time they allocate to look into the matter. As a result, several property proprietors refrain from running their own assets after realizing just how burdensome and stressful it may be. In these conditions, owning a property management system is very helpful.

A good property management system can help simplify your company operations by half the time. You’ll be able to avoid the drudgery of possessing to do lots of paperwork documenting all information necessary including personal info about your tenants and their payment history the old fashioned way. The same is true when you need to access their info as you no longer need to go by means of all of the heaps of papers just to locate what you’re looking for. Utilizing the new method enables you to organize and store all the details you have entered into it to for simpler access and revision when needed. And because every one of the info is discovered in your program, it saves you the cost of operations.

It spares you from getting to purchase paper and folders for organizing all the details you would like including travel expenses necessary every time collecting rent on a monthly basis. Also, getting the system avoids human error which may also be costly possessing to revise incorrect details and update it each and every time. So, with this system on hand, you can save much more cash. Finally, the program secures your rental property. It has an on the web tenant credit screening service which permits you to check on the credit info and background information of prospective tenants in a matter of minutes. […]