Rent Season Prep 101 – Propertyware

3 Tips to Start Building Your Leads Pipeline

Marc Eiting — Wed, 05 Apr 2017 02:00:00 +0000

The busiest time of year is almost here: peak leasing season! As spring arrives and families, students, and other tenants begin to think about what their plans are for the end of the school year and the beginning of the summer, they often begin to look for a new home. These four tips will help you develop a strong leads pipeline so that when your tenants move out, more will move in quickly.

1. Clean Up

To attract new tenants to your property, you need to make sure that property is looking its best. Regular inspections should be done throughout the year, but they are particularly important before the spring rental season. According to Strategic Investment Realty, “as real estate investors, it’s also important to understand that regular, routine inspections and preventative maintenance are also crucial for you and your rental properties’ overall success.” Connect with contractors to perform regular seasonal maintenance and fix any major problems before you photograph and prepare to list a property.

2. Update Your Property Listings

As properties become available, you need to update your property listings on popular online property listing services. Consider the full spectrum of free and paid listing services. If you can, survey your incoming tenants to see how they learned about your property. That way, you will know what listing services yield the most leads for your business, and you can focus on promoting through those venues rather than updating many different listing sites. Your listings should be visual and explore the benefits of each property, not just the features and amenities. Put yourself in the shoes of a prospective tenant and consider what might appeal to them about the property and neighborhood. Benefits might include easy access to transit or an exceptional community feel. Choose software that features easy-to-use posting tools to keep your property listings current and update your website with ease.

3. Connect Online

Many tenants begin their home search online, making it important to develop a strong web presence. Your website should help connect prospective tenants connect with your business through text and visuals, but you need to help those tenants get to your site first. Work with a search engine professional to help your website rise to the top in your local search engine rankings. You can also use social media to amplify your message, reach new prospects and engage with current residents. A well-designed website should have visuals and clips about each property that translate well to prominent social media sites such as Facebook.

When you’re looking for property management software that will help you create a thriving rental property management business, look to Propertyware. We’ll not only support your business behind the scenes, we’ll help you look good to the public as well. Take a free tour of Propertyware today.

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5 Innovative Ways to Keep Your Tenant Pipeline Flowing

Marc Eiting — Fri, 07 Apr 2017 10:00:00 +0000

If you have units available and new listings to make, the marketing process is straightforward. But what if you don’t have anything to market? How do you keep your tenant pipeline flowing and ready for your next listing?

Rental Property Marketing Drives Occupancy and Lowers Costs

Keeping a healthy pipeline of prospective tenants is critical for rental home property managers. It helps keep your overall advertising costs to a minimum and allows you to be more selective when choosing tenants for your properties. Here are 5 ways to keep your tenant pipeline flowing:

1. Automate as Much as Possible

According to the Rental Protection Agency, there are over 110 million renters and 22 million landlords in the United States. When you have a property available for rent, you’ll want to quickly update your own website and add as many Internet listing sites as possible. Things like our one-click posting tool save the hassle of adding your listings to multiple sites. Within a few minutes, your new rental post can be on hundreds of sites.

2. Invest in Content and Photos

Writing a blog is hard work. The concept of a marketing blog in itself is not that innovative, but there have been many innovations with regards to keeping the creative juices flowing. We recommend trying HubSpot’s Blog Topic Generator to get fresh ideas. Not sure where to start with your property management blog? We’re here to help. Check out articles like “7 Blogging Tips for Your Property Management Sites” and subscribe to the Propertyware blog for even more resources. In addition to content, images are extremely important. In 2009, Airbnb was close to going bust but made a dramatic turnaround. One early strategy they applied was improving image quality. In one test, they replaced all the images on the site with professional, high-quality photos. The next week, they doubled their revenue!

3. Build Your Email List and Automate Your Newsletter

Once you have quality content, consider creating a newsletter to share both content and listings. According to Joe Pulizzi, founder of the Content Marketing Institute, “an email list is critical because you can’t build your content on rented land. So many brands and companies build their audiences on Facebook and Google+, which is fine, but we don’t own those names – Facebook and Google do.” If you use a service like MailChimp, you can automate this list-building process and send out newsletters and email updates quickly and easily.

4. Get Your Properties on the Map

It’s estimated that over 56 percent of searches are of a local intent. This means getting on the Google Map is important for property managers to appear in local search results. One technique involves creating a Google Map listing for each property or apartment complex. In addition to this, you can hire a Google Trusted Photographer to further enhance your listing’s street view.

5. Improve your Online Reputation

It’s a fact: people believe reviews work. According to a Search Engine Land study, 88% of consumers trust online reviews as much as personal recommendations. Gathering positive online reviews is no easy task and needs to be worked into your business processes. The benefits far outweigh the inconvenience of asking previous tenants for a positive review. To find the best places to post reviews, perform a Google search for “home rental reviews + CITY”. For instance, “home rental reviews Indianapolis” brought up Zillow, Yelp, and TripAdvisor. An added bonus: A recent survey of the world’s top SEO experts ranked reviews and social signals as highly important factors Google considers when computing search rankings.

Use Rental Property Marketing Software for a Better Bottom Line

Getting used to new technologies takes time, but it’s worth it to work them into your daily routine. You’ll see higher occupancy rates, less time spent, and lower marketing costs overall. Interested in learning more about how we at Propertyware can help keep your tenant pipeline flowing? Take a free online tour of Propertyware today.

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How to Attract Millennials and New College Students Into Your Leads Pipeline

Marc Eiting — Sat, 18 Mar 2017 15:00:00 +0000

Who’s coming down your rental property management pipeline? During the busy spring rent season, you’ll find that many millennials choose to move. Whether they’re moving for work, for family, or for greater educational opportunities, you need to know how to attract millennials to your rental property business, especially if you’re working in a college town where tenant turnover is high.

Find Your Rental Property Audience

Do you send out newsletters, create blogs, or develop social media posts? You need to understand that your audience is more diverse than you might imagine. You’re not just marketing to tenants, you’re marketing to many different groups, all of whom have different interests and needs. According to LinkedIn, you need to adjust your marketing materials to speak directly to that college audience. The company says that “armed with information, you can change the message, send relevant emails, create college landing pages, and design campaigns that look like they were meant for students.”

Attract Millennials: Embrace the Lifestyle

Millennials love to rent. While home ownership might be out of reach for some, for many, renting is also a lifestyle choice. It allows them the flexibility they need to seek out a neighborhood that suits them and a job that they enjoy, and it gives them the ability to have a geographically flexible life, free from the stresses and financial commitment of home ownership. When you’re marketing to millennials, you need to understand the factors that bring them to rental properties and highlight these when you’re discussing the features of each property. Millennials get much of their news via social media: be social yourself.

Speak Their Language

When you’re interacting with Millennial and college students, you need to speak their language on the platforms where they hang out. According to the American Press Institute, “social networks are an extraordinarily important part of Millennials’ digital lives, in part because social networks have become much more than a way to connect about personal matters.” This might involve using texts to connect with prospective tenants or developing an Instagram site that highlights neighborhoods where you have many rental property listings. For Millennials, social networks are for more than interactions between friends. They’re a place to get relevant news and information, including information about properties to rent. Developing a strong website and social media presence is essential when you’re connecting with Millennials.

Cultivate Relationships

While they may move on when they’ve completed college or when they find a new job, your Millennial and student tenants are no less valuable than any of your other tenants. Once you’ve captured their attention, you need to cultivate a relationship with them. Using lead tracking software, track each lead, connect with them, and acknowledge their importance to your business.

“We have about ten times more leads through Propertyware.” – Jerry Ryan, Resource Property Management

Are you looking for support as you market to a millennial audience? With features that help you develop your website, hone your SEO, and create smoother move-in, move-out processes, Propertyware is here to help. Get pricing today and learn how we can help your business reach its target audience.

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4 Ways to Attract New Property Owners

Marc Eiting — Sat, 01 Apr 2017 12:00:00 +0000

When you’re gearing up for the busy rental property season, you need to find new tenants as existing ones move on to new properties. You also need to boost your stock of rental properties and seek out new property owners before the bustling days of spring and summer. This can be a challenge, but using these 4 ways to attract new property owners can simplify the process:

1. Become known for your management skills

Instead of just looking for property owners, help them come to you. Become known for your property management skills, and you can improve your reputation in the community and generate brand awareness for your business. According to About.com, “the property manager is the owner’s partner in maximizing the return on investment of the property through efficient performance.” Show how you’ll be an exceptional and responsible partner. Owners want to know you’re on top of property inspections and maintenance and that they can trust you to efficiently and effectively manage tenant screening and move-in, move-out processes.

2. Enhance your communication channels

Like tenants, owners need to see that you’re an excellent communicator. Ensure that you have excellent lead follow up with your prospective owners as well as your prospective tenants with contact center services that help owners find the information they need as quickly as possible. Develop owner portals on your website as well, so that owners can easily submit new property information, ask questions, or see the information about existing properties that they have in your system. Great communication skills can help ensure that both, tenants and property owners are well served.

3. Create content specifically for owners

As you develop the content on your website, target it specifically to owners. This can include newsletter content that’s focused on owners’ needs so that they understand how your property management services can simplify their lives. You can also use landing pages that allow owners to easily find the information that they’re seeking, including information about adding their property to your roster. Finally, if you have a blog, make sure to add information for owners as well as tenants. You serve both audiences, and it’s important to speak to them as well.

4. Develop your website

Property owners are busy, and they may not live in the area where you are managing their properties. According to the NOLO blog, you need to develop a website that can “show them that you are that special management company or supervisor that surpasses these challenges by actively seeking out their business and advertising beyond just local boundaries.” Your website is a key portal that allows property owners to understand your services and the scope of your current rental properties. Develop a website with SEO keywords that attract owners as well as tenants, and create property information that can easily translate into social media posts to attract new owners. Propertyware can help you attract new owners to your business, bring together properties and tenants, and manage your properties so that you’ll maintain the properties and tenants that you have.

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Two Checklists That Can Save Property Management Headaches

Marc Eiting — Fri, 24 Mar 2017 15:00:00 +0000

It’s rental season, and you’re feeling overwhelmed. Several tenants are moving in at the same time, and then come the calls: the toilet isn’t running properly and the front gate needs attention. You’ve forgotten to get the deposit back to your tenants who were moving out, and they’re asking if there was a problem with the property. Are you having trouble keeping it all together and staying on top of the countless responsibilities? Rental checklists can save you from many property management headaches and keep your business on track.

Why Use a Property Management Checklist? Rental Season Is Coming

Rental season is a busy time, and you need to make sure you’ve covered all of your bases before your tenants move out and new tenants move in. This not only ensures that your properties are in good condition, it also allows you to start off on the right foot with your new tenants. Solidify your reputation and ensure that you comply with legal requirements: according to the NOLO blog, “failure to meet your legal responsibilities can lead to costly disputes with tenants and hefty financial penalties.”

Develop a Tenant Move Out Checklist

When a tenant is moving out, you have a series of things to do in order to prepare for and move in a new tenant. A successful move-out process is essential if you’re going to have the property ready soon. What should you look for during move-out?

Set a clear time frame for move-out, so you know when you should go in and inspect the property.
Be clear about your expectations about the condition of the property.
Give tenants a cleanup checklist that outlines their roles in cleanup. Do they need to clean the inside of the fridge or wash the floors? According to Landlord Talking, “move-out inspections go much better if both the tenant and the landlord have the same expectations.”
Ask the tenants for their forwarding address and phone number so you can contact them if there are any problems.
Make sure that you maintain the security deposit until you’ve inspected the property.
Inspect the property. Compare notes, photos, and video with the previous property inspection.
Get quotes from vendors or contractors for maintenance and repairs. According to Findlaw, you are “required to make sure a rental property is in habitable condition when the tenant first moves in.”
Complete the work. Use work orders to record when the work started and ended, what was done, and what the cost was for the completed project.
Make deductions from the security deposit if there are repairs required that are out of the ordinary.

What’s on Your Tenant Move In Checklist?

As tenants move in, you need to ensure that the property is ready for them and that you’re ready for your tenants. Your tenant move-in checklist can help you make sure that you have the right tenants and that you can manage move-in, move-out with ease. What should be on your move-in checklist?

Check your tenants first. Make sure that you document reference and credit checks to do your due diligence in choosing the right tenants for your property.
Make sure that you’ve completed the property inspection, maintenance, and repair process above. Have the new tenants examine the property to ensure that any defects are noted.
Go over property rules and restrictions with the tenants, so that they’re clear regarding what is and is not allowed. You can also include this in a tenant welcome package.
Get address, phone, and financial information from the tenants, so that you can set up payment.
Make sure that you get a security deposit and that you clarify with the tenants what is covered by you and what will be charged to the deposit.

“It seems that everywhere, in every situation, Propertyware is keeping us organized.” – Dave Barron / Husky Property Management, LLC

As you create your rental property move-in, move-out checklist, consider how rental property management tools can help you manage your property. Look to software that allows you to develop tenant and owner portals for ongoing communication and apps such as the mobile inspections app that allow you to document properties no matter what device you have. Visit Propertyware today and get pricing for our property management software.

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Are Your Rental Leasing Contracts Up To Date?

Marc Eiting — Tue, 21 Mar 2017 15:00:00 +0000

It’s the busiest time of the year: rent season. During this busy time, the details of rental agreements can be hard to track. Many properties and agreements must be updated. While you probably won’t forget to complete a move out property inspection, it’s possible that you’ll forget to update your documents for a new tenant. Making sure your leasing contracts are up to date will ensure that you start off on a clear footing with each new tenant.

Clarify the Rules

A lease is a legally-binding agreement. The Dummies blog states that a lease is “a contract that specifies the legal obligations between the landlord and the resident for a particular period of time – often one year – and prevents the landlord from raising the rent or modifying any of the other lease terms until the lease expires or a term of the lease allows for such changes.” Since this agreement is a legally binding outline of the rules for your tenants, it needs to act as a clear and firm foundation for communication. Use your lease agreement to clarify rules such as:

Restrictions on the number or type of pets
Restrictions on the use of a property, such as smoking or alcohol use restrictions
Rules regarding quiet hours and noise
Rules regarding interactions with neighbors
Guidelines about where to park, if there is street or assigned parking.
The insurance obligations of the tenant.
The obligations for care of the unit and removal of garbage
Rules regarding modifications to the property, such as painting or adding wall hangings.

According to Upcounsel, “failure to abide by the rules will constitute a material breach of the agreement and may be cause for eviction.” Clearly stating the rules up front helps you clarify who is responsible for what and when you have legal recourse. File and organize all of your lease documents so that you can easily access the house rules for each property.

Make Adjustments Based on Experience

Before rent season begins, it’s important to take a step back and reconsider how your property management lease agreements are working for you. If you’ve found that allowing dogs at a particular property has led to serious maintenance problems or you’ve discovered that your noise restrictions are too lenient and lead to complaints from the neighbors, now is the time to change them. Be clear about your new rules during move-in, move-out and you can set a new precedent that will help you more easily manage a property.

Change Your Fees Related to Property Management Leasing

Be clear about whether you would like the opportunity to raise the rent during the lease agreement due to planned modifications to the property or changes to the tenant composition. According to Lawyers.com, “in general, a landlord cannot increase the rent until the lease runs out. Some leases, however, allow the landlord to raise the rent for a reason, such as adding a roommate or a pet, or for significant improvements, such as a kitchen or bathroom remodel.” The time before rent season is a time to review your fees for leasing property management as well. Ask yourself questions such as:

What does your budget look like next year?
Should you increase the rent on all properties or just one or two in particular?
Is your security deposit adequate to cover most of the past concerns about property damage?
What kind of property damage will you cover, and what should be deducted from the security deposit?
Do you need to implement a late fee policy?

As with the rules and guidelines surrounding a lease, setting out clear expectations around rent, rent increases and deposits will help you get paid and ensure that you and the tenant are clear on payment for scenarios like property damage. File your rental agreement in your tenant portal so that the tenant can have easy access to the agreement. You’re trying to succeed in the busy property management leasing field. It’s a busy time, and you need all of the help that you can find. Help doesn’t need to come in the form of new employees to train. It can also come in the form of property management software. With software that helps with your leasing, you can keep all of the details of your properties under control. Sign up for a free tour today and learn how Propertyware’s software can help you thrive during the busy rent season.

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Improve Property Listings: Rent Homes, Not Properties

Marc Eiting — Fri, 10 Mar 2017 21:38:51 +0000

Your tenants want to feel at home in your properties. Home is what sells your tenants on the places you rent. Whether it’s the neighborhood school, senior center, or the beautiful garden and entertaining-friendly deck, improve property listings by focusing on the intangible feeling of home as well as the tangible benefits of your property.

Do Your Market Research

Who wants to live in your property? This likely varies according to every neighborhood and every style of home. A small two-bedroom rancher might be a good fit for a new family or a senior couple who is downsizing, or you may find that a young couple wants to move in with a roommate. Research who is renting in each area and use your property management system to track those who are interested in or who are already renting your current properties in a neighborhood. As Market Leader says, know what your renters “want and, if the home you’ve listed has any of those features, hit them hard in your listing description.” Determine what amenities, home styles, and features of a property are most appealing to your target market.

Understand Your Property

As you look at your property, examine it with an eye for its extra-special features. Does the backyard have enough room for a pool in the summer? Could your tenants’ children play soccer on the spacious lawn? All of these intangibles help make a property feel like home. Know your property’s special features and emphasize them to improve property listings.

Get to Know the Neighborhood

People don’t just move to a house, they move to a neighborhood. Your tenants may move in because there’s a great school within walking distance or because the senior center is just around the corner. Your property could be close to transit for downtown jobs or in a neighborhood with trendy cafes and co-working spaces. Pick up tidbits about the neighborhood when you can: are the neighbors known for their friendly summer block parties? To improve property listings, note the neighborhood features that make your property special.

Watch Your Language

Your property has three bedrooms and two bathrooms, but it’s also a home with room for a growing family. As you write about your properties, be conscious of the language you use to describe them. Your property listings don’t need to look like the same old, same old: RE Tipster says “If you want to learn how to write real estate ads well, the fact of the matter is you don’t need to look like everyone else.” Give the vital statistics such as square footage, basement space, and bedrooms, but in the wording of your listing, consider your audience. If your target market is seniors who want to feel secure, stress how the security systems and community around your properties can help make them feel safe. As you read your property listings, make sure that your properties feel like home to your target market.

Talk With Prospective Tenants Using Property Management Systems

As a property manager, you can help your tenants feel like they’re coming home. Be warm, friendly, and welcoming in all interactions with them. Clearly state the rules of the property and go the extra step to ensure that prospective tenants know what they’re about to rent. A tenant portal can help you develop this kind of informative and consistent communication system. By keeping all of your communication in one place and developing a system that’s active even during the off hours of your office, tenants feel like you’re able to accommodate their needs.

“We have about ten times more leads through Propertyware.” – Jerry Ryan, Resource Property Management

As you work to develop property management systems that work for your business, consider how you market your properties and incorporate neighborhood amenities and special features of each home into your listings. While a one bedroom, one bath home may not seem like anything special, a sweet starter cottage could be very attractive. Are you using property management software and digital marketing packages to organize your listings? Propertyware can help. Sign up for a free tour today.

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5 Photography Tips to Improve Your Rental Listings

Marc Eiting — Sun, 26 Mar 2017 15:00:00 +0000

As a property manager, you’ve written many listings for your properties and taken quite a few photographs. You know photos are important to your prospective tenants because they help sell your property in a way that words alone cannot. According to Rentalutions, “96% of (tenants) begin their search online.” How can you make sure your pictures tell the story of your property and draw in prospective tenants? Take a look at our photography tips for property managers and help turn website visitors into new tenants who are ready to move in.

Think About Quality

You don’t need to be a good photographer to get high-quality images, you just need to use the right camera. Use a camera that offers at least 5-megapixel resolution in order to have photos that look sharp online. You can also try enlarging them in case a prospective tenant clicks on the photo. If your hands are shaky or you notice that your photos are frequently blurry, add a tripod to your camera to help keep photos looking sharp.

What Does the Tenant Want to See in Rental Listings?

Tenants look to photographs to get a feel for your property. Take a photo of the house from the outside, and try to include the house and yard. If you’re taking indoor photographs, make sure the previous tenants’ personal items are not in the photo, as this makes the photo feel like it’s of someone else’s space. Take photos with the best device you can, rather than relying on spur-of-the-moment shots.

Highlight your Property at its Best

Think about the light levels when you take your photo. Even if the weather is often rainy and the skies are dark, you want to show off the home when it’s at its best. Ominous gray clouds or rain might be realistic, but don’t make the best pictures. Take your photos on a sunny or lightly cloudy day, even the ones that are indoors. If you’re inside, open the blinds and consider adding a photography light to get the levels just right.

Take As Many Photos As You Want

Not every photo you take will be perfect, so be patient. Even if you’re not a pro, you can still take good photos: you just need practice to get the right shot. According to Inman, digital “pictures are disposable and of course, there are no printing costs involved, so click away!”

Don’t Worry, Just Edit

You want your photos to be truthful. However, you also want them to look appealing. Clean up the home before you take a photo to remove visual distractions, but leave basic furniture inside so that it’s easier to visualize the room when it’s furnished. Stage the home, adding fresh flowers or other classy touches that add to and don’t distract from your photo. After you’ve finished taking the photo, if there are some minor flaws in the photography itself or there is some cropping to do, edit your photos freely before you post.

“I like the fact it integrates everything together.” – Jim Stevens / Stevens Realty

Whether you’re filing photos or adding tenants’ information to a tenant portal, you need a property management system that you can trust. File your data, create reports, and develop outstanding websites with Propertyware. Schedule a few minutes to take a free online tour of Propertyware today.

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