Rental Property Owner Portals – Propertyware

Why Owners Fire Property Managers: Top 4 Reasons

Leah Mendes — Tue, 14 May 2019 09:11:57 +0000

When growing your single family business, winning new property owners is only half the battle. Many ambitious property management professionals are so focused on marketing to new owners that they forget the importance of building strong relationships with the owners they already have.

In this article, you will learn the main reasons property managers lose clients. You can also use this checklist to review whether you are fully utilizing Propertyware to help hold on to your hard-won clients.

Here are four top reasons owners fire property managers:

1. Maintenance issues

It’s not just tenants who get upset when there are problems with maintenance and maintenance vendors. You can lose owners over it as well. The most threatening issue is vendors who are uninsured, uncertified, or just plain shady. RealPage Vendor Credentialing is free of charge for property managers – essentially, your own no-cost risk management department, verifying that the vendors you use have the proper insurance, endorsements and certification. The platform also maintains a list of Credential Key vendors, pre-certified to perform emergency repairs.

As you are only too aware, property maintenance can be a huge headache – but also a huge opportunity – when it comes to customer service. Propertyware Contact Center and other conveniences help ensure tenants always get the attention they need and a speedy response, so you don’t disappoint property owners with tenant turnover due to maintenance frustrations.

2. Property damage

Property damage is another really big source of problems between the management company and owner. The key is to have insurance in place that protects everyone: tenants, owners and property managers. Propertyware AssetProtect reduces owner risk from tenant-caused damage, lessening the odds that you will be blamed for an owner’s costs due to a destructive tenant or other issues.

3. Poor communication

Property managers who keep owners informed keep more owners. That’s why smart Propertyware users take full advantage of the mobile-friendly Owner Portal to provide owners access to statements, documents, data and a complete history of communications. It can be used to keep owners aware of strenuous day-to-day efforts you’re making to find new tenants for unoccupied properties. And there is of course another great benefit to streamlined interaction between property manager and owner in addition to keeping owners happy: it greatly reduces phone calls and emails, freeing busy staff to concentrate on other duties.

The Owner Portal also streamlines the moving of funds between owner and property manager, another pleasing bonus. And because it’s integrated with the Propertyware owner ledger, the portal will notify your owners via email when funds have been added to their account, when tenants have given notice, and much more. Propertyware Text Messaging allows you to communicate quickly with owners, as well as tenants and vendors. This is a cost-effective way to increase efficiencies without straining resources.

4. Vacant properties

What property owners want most from you, beyond protecting their properties, is to keep them rented and generating income. An owner will leave you in a minute if they think you’re not working diligently to fill unoccupied properties. That’s why it’s critical to have a cost-effective, successful marketing program, and these days most of it happens on the Internet.

Propertyware centrally stores everything needed to successfully market properties. The enhanced Listing Widget allows property management companies to design, customize and publish property listings to attract and convert prospects into tenants. Propertyware Contact Center backs up leasing staff to make sure phone calls and emails from prospective tenants are answered quickly and professionally. Finally, Propertyware Tenant Screening helps ensure the best candidates move through the rental process, which helps cut down on frequent turnover and vacant properties. Together, these marketing tools keep owners convinced they couldn’t do better with anyone else.

Keep property owners happy

There are more ways to lose owners than the ones listed above, of course. And some of them you can’t do anything about. But if you pay attention to these four and address your weak spots, you can be confident that those new property owners you’re winning aren’t merely replacing those you’re losing on the back end.

Learn more about how Propertyware can help you build great relationships with owners and manage properties seamlessly. Get a free demo today.

The post Why Owners Fire Property Managers: Top 4 Reasons appeared first on Propertyware.

How to Avoid the Pitfalls of Owning Rental Properties

Marc Eiting — Fri, 13 May 2016 10:00:00 +0000

Property management involves working with multiple clients and stakeholders, and it can be difficult to balance everyone’s needs while moving your business forward. At its worst, tenants can be late on the rent, owners can be disgruntled, and you can be caught up in legal or interpersonal issues that take up your time at the office. In this article, you will learn helpful rental property management tips that prevent common pitfalls of owning single family properties.

Take a Closer Look

Before you bring another rental property into your portfolio, perform a close inspection to determine the state of the property. Use software that allows you to upload and file photo and video documentation so that you can thoroughly document and assess problems. Avoid taking on a particularly challenging property or owner by doing your background research. According to Nasdaq, “it’s important to take the time to carefully assess a property’s potential.” Is the property in a neighborhood that has a high vacancy rate, or is it in a desirable location? How long do people tend to stay in rentals in that area? What about the property itself: does it require large investments before it is truly ready to be rented? By asking these questions, you can avoid wasting your time on unprofitable and difficult properties.

Stay on Top of Maintenance

Staying on top of maintenance can be difficult- especially when properties are aging and tenants are moving in and moving out. Use a rental property management software system to coordinate your regular maintenance schedules, and make sure that you include property inspections and move in, move out inspections as part of your regular schedule for property maintenance. Well-documented and well-managed maintenance schedules help you avoid property management pitfalls, helping you create and stay within a regular maintenance budget and avoid legal and interpersonal conflicts about maintenance.

Invest in Good Tenants

You might think that a property is an investment, but the real investment should be in your tenants. Just as you inspect a property, you need to inspect the backgrounds of your prospective tenants. You can find good tenants by checking references and running a credit check. While difficult tenants may damage a building, a great tenant will take part in its maintenance and let you know what needs to be done, helping you save on maintenance and repair fees. They will also pay the rent on time, helping you avoid notices about late payment. Celebrate loyal tenants by setting up incentive programs to provide anniversary gifts, slower rent increases, or extra investments in the property. This is a worthwhile investment to increase your tenants’ connection to your business and provide you with peace of mind.

“We wouldn’t be the company we are without Propertyware… it allows us (with only 2 people) to manage the entire business” – Jeff Shelton / 3rd Base Realty

When you’re looking for property management solutions, contact Propertyware. Whether you’re starting the process of owning rental properties, looking for rental property management tips, or improving your property management systems, our products can help you get organized and create processes that transform your property management. View a free online demo of Propertyware today!

The post How to Avoid the Pitfalls of Owning Rental Properties appeared first on Propertyware.

4 Ways Your Property Management Business Can Provide Better Service to Property Owners and Tenants

Marc Eiting — Fri, 08 Apr 2016 20:00:00 +0000

How do great property management companies become great? They provide customer service that’s a huge step above the rest. By being the best property management company for your tenants, owners, and yes, even your contractors, you can develop a strong reputation and continue to rise above the competition. Here’s how you can improve your service day by day.

1. Make it Easy

Your tenants and owners are busy people. They think about their homes and their investment properties, but they’re thinking about a lot of other things as well. Sometimes, a tenant realizes that the rent is due the night before. Often, an owner wants to check that a payment went through or look at the progress of a renovation project after work hours. According to the Interest blog, “the way you keep (tenants) happy is by keeping the property in good shape and treating them with respect.” Make it simple for your owners and tenants to access information about their accounts and properties by developing owner and tenant portals where you can store payment information and file important facts about each property.

2. Embrace Diversity

While online rent payments work for many and most of your tenants and owners will enjoy the convenience of looking up information about a property online, some of your tenants will need the flexibility of a phone call. Provide a contact center where there are real people available to answer urgent calls and general questions, even after normal work hours. According to the NOLO blog, “a good management company brings its know-how and experience to your property, giving you the peace of mind that comes with knowing your investment is in good hands.” Achieving this peace of mind comes in different ways for different owners and tenants.

3. Anticipate Problems and Provide Solutions

Providing great property management isn’t just about finding and fixing problems, it’s also about preventing them. Truly great property management companies are on top of problems before they exist, working to maintain properties through ongoing maintenance, diligent repair schedules, and frequent check-ins with tenants, owners, and contractors. By anticipating problems and working on them on an ongoing basis, a property management company helps tenants feel well cared-for and helps owners know that their properties are in good hands.

4. Be Clear

Tenants and owners appreciate clear communication. This can begin with the tenant screening and the lease agreement, which should clearly outline the responsibilities of the property management company, owner, and tenant. Use your property management data system to properly file key documents, and make sure that these are accessible to both owners and tenants online so that everyone knows when maintenance will occur or whether pets are allowed.

“Our owners love the owner portals. Our tenants love the tenant portals. With Propertyware, you can go in, do a direct deposit, create the owner statement, and publish it to their portal, or email it to them.” – Michele Fox / Fox Rental Management

Do you want to excel as one of the best property management companies around? In your quest to provide better service, Propertyware can help. Our innovative software products support you as you work with tenants and owners. Get pricing today.

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Property Management and the New Way To Connect

Marc Eiting — Thu, 25 Feb 2016 19:12:47 +0000

In this industry, you work with an interconnected web of properties. Some have similar maintenance needs or are in the same part of the city. Others have urgent concerns that are outside the norm and need to be addressed immediately. Forbes says that small businesses that are seeking software solutions often “lack the resources to make sure the technology is customized and adopted.” As you work to streamline your property management processes, you need to find rental property management software that is focused on your unique needs as a property manager and helps you to understand and manage the many connected yet diverse needs of your properties.

Owner Portals Connect With and Ease Owner Concerns

When you’re managing multiple properties, you’re likely working with multiple owners. All of these owners have questions from time to time, and those questions are important and pressing. Provide your owners with the ability to answer their questions about payment or the status of a property by developing an owner portal. This portal can also include a way for owners to get in touch with you in case their questions are not answered by the property information that you place online.

Renters Love Tenant Portals

Your tenants need to know the details of their property, from the landscaping maintenance schedule to the way that they can pay their overdue rent quickly and easily. By providing a tenant portal, you can provide tenants with an easy way to pay the rent and access information about their account and their rental property, and they’ll also have a quick and easy way to ask you questions. The Bigger Pockets blog talks about the importance of working together with your tenants to find solutions: “The enemy is the maintenance problem. We are the tenant’s ally. Why would anyone get mad at their ally?” Adding a tenant portal helps you communicate with your tenant and find solutions to their problems.

Better Vendor Coordination Means Higher Tenant and Owner Satisfaction

When you’re working with multiple properties with different needs, you need to have the ability to contact vendors quickly and easily. With property management software, you’ll have a list of vendors at your fingertips. You’ll also be able to view project locations and see the progress of a project by looking at your customized alerts. Since you’ll understand all of the details of the work your vendors are doing and you’ll be in touch with them every step of the way, you’ll be able to manage up to 67% more service requests, increasing tenant and owner satisfaction.

Connect Your Schedules

Are you still working in a scheduling system that’s not designed for rental property management or using a paper day planner? If so, you’re missing out on the features available to you if you place your scheduling into a specifically-designed property management software system. With property management software, you and your employees can track and log your work hours with online collaboration tools. You can also examine the time you’ve spent on a project by searching by property, work order, or transaction. If you love Outlook and Google Calendars, you can still use them, but they’ll sync seamlessly with your rental property management software so that your schedule and your teams’ and properties’ needs are connected.

Connect With the Cloud

Are you and your employees as flexible as you’d like to be?

If you’d like to increase your ability to troubleshoot, schedule, and contact tenants, owners, and vendors when you’re out of the office, work with cloud-based software products. A cloud-based system will allow you to access your documents, vendor lists, property inspections, lease agreements, and much more while you’re on site, making it simpler to find the solutions needed to resolve problems. You can even work with tenants to enter data for tenant screening and sign documents while you’re out of the office.

Watch this video from Jeff Shelton, owner of 3rd Base Realty, and see why he says “We wouldn’t be the company we are without Propertyware… it allows us (with only 2 people) to manage the entire business”.

Are you looking for software products that have the potential to transform the way that you work on rental property management? By choosing software that’s specifically designed for property managers, you’ll be better able to manage multiple properties on a tight timeline. Contact Propertyware today to set up an online demo.

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