Property Management Technology & Training Is Improving Efficiency

An Inventory or Schedule of condition is vitally important when landlords let a property to students. Landlords should try and find a free example of an inventory on the Internet and compile a detailed ‘Inventory, Schedule of Condition and Safety Check List’. It is worth landlords spending time on compiling an inventory that records every detail of a rental property, its contents, decoration and condition so that any damage or loss occurred during a tenancy can be claimed back.

“By effectively automating our billing and payment handling process, we removed the single biggest obstacle to growing our business,” said VMS customer Joe Keizur, President and CEO of Blue Mountain Community Management. “We’ve nearly doubled the size of our portfolio since launching the service while actually reducing the load on our accounting staff.

When asked about the company’s future, CEO DiSanto replied, “We truly believe that we can double our market share within the next three years.” To meet this ambitious goal, Triple Crown Corporation is considering a three-year plan which includes the possibility of expanding into New York, Delaware, Maryland, and even Florida – an impressive feat given the current real estate market nationwide. Like the hare and the tortoise, sometimes slow and steady can win the real estate race.

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Paperwork. Nobody really likes it, do they? This is an area that can also be taken care of for you, at least in part. Those monthly statements that you hate to go over and print up every month can be printed and gone over by someone else instead. You will simply receive the statement every month to check, and double check if you want, and then sign off on. It will itemize things such as rent collected, maintenance fees accumulated, the obvious management fee that is deducted for the service in the first place, etc. They can be as itemized as you prefer.

The VMO actively works with the program management office (PMO) to coordinate the delivery and capabilities of multiple vendors, not only sourcing providers but also software, hardware and other technology suppliers. This involves intellectual mutualpropertymanagement.com, invoice/payment management and audits, discretionary pool /ARC/RRC management, and service audits. Senior executives are most interested in the financial results of the sourcing initiative, therefore, the VMO must include individuals with the business savvy to provide regular financial performance updates that spell out performance against the original business case.

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Just as stocks have price-to-earnings ratios (PE Ratios) used to establish relative value, houses have a price-to-rent ratio to establish relative value. Rent is the income or potential earnings a property can produce. It does not matter if the property is rented or if an owner lives in the property. The potential for rent is equal to the potential for earning.

Communicate with the homeowners in your neighborhood or the tenants in your commercial space and make sure everyone understands the importance of reducing the chemicals, pollutants and waste products that make their way down the storm drains in the neighborhood or office park.

If you’re planning to stay in an area not too far from your home, you can make an appointment to tour a few of the possibilities. Driving over on the weekend before booking your reservation will be a nice outing and can give you a chance to look everything over. If you don’t reside close enough to visit in person, you can also visit virtually. With a click of your keyboard, you can view the interiors and exteriors of properties via photos or video clips. These links are often available through a property manager, just as viewing real estate to purchase would be.

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