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  • Importance of a Property Management Agent
    By admin on April 13, 2009 | 71 Comments71 Comments  Comments

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    Nowadays many apartment owners are using the services of a property management agent to generate income from their land investments. One can invest in residential property like apartments in a building or commercial property like a shop space.

    Any kind of buildings or properties can be a good source of additional income for the owner. He can either choose to sell it in the future when its price significantly rises or he can let it out on monthly rent.

    However most owners do not have the time or the expertise regarding the different aspects related to buildings. Using ones property to generate an income is a time consuming affair and involves a lot of hassles.

    Proper Maintenance Of The Property Is Important
     
    That is why many owners prefer to use the services of a property agent to take care of their property and issues related to it. Otherwise he has to get involved personally in renting out his property and this means a lot of unnecessary tension.

    A major requisite for letting out an apartment on rent is that it must be in good condition. That means it will require timely maintenance and repair work. By hiring a property agent who is in the business of managing property the owner can rest assured that his apartment or shop is always in good condition.

    Not only will the agent look into the daily maintenance and upkeep of the place he will also suggest and carry out repair work as and when required with the owners knowledge.

    Especially in the case of apartments there may be a need to make suitable adjustments to make it more attractive to tenants. These could include providing adequate storage spaces like cupboards and cabinets in unused corners and improving the lighting of the apartment.

    Verification Of Tenants Details Is A Must
     
    The property management agent will also look into other essential aspects like fixing the rent. This has to be done in keeping with the current rates which are prevalent in the place where the apartment is located. Also the apartment has to be properly advertised so that clients are drawn to take a look at it. Such advertisement can be done via the internet and newspapers.

    The agent will also have the responsibility of showing prospective tenants around when they come to see the place. It is absolutely essential to verify the income and credit history of the tenants that is whether they will pay their rent on time.

    Those who are in the business of managing buildings and apartments have the necessary expertise and manpower to carry out such verification.

    Once the tenant is decided the required formalities like signing the deal is also ensured by the property management agent . Thereafter if the tenant has some complaints regarding the apartment the manger will attend to them as and when required. He will also ensure that the rents are paid on time. If there is any requirement to carry out legal action against a tenant the agent will take the necessary steps as he is well informed about tenancy laws.
     
    Choose A Reliable Agent

    It is essential to hire a good agent for managing ones apartments. The deciding factors will be the price charged for the services and also the fame of the managing firm.

    It is a good idea to use ones contacts to choose a reliable agent who has managed similar property. It is important to confirm whether the agent or manager will be available on weekends as that is when prospective tenants will be have the time to check out the apartment. Also the agent or his representative should be available 24 hours to attend to any emergency that may take place in the apartment.  

    By getting a reliable property agent the owner can stay free of tension and get good returns from his property.

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  • Effective Tenant Management
    By admin on April 2, 2009 | 71 Comments71 Comments  Comments

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    One of the main functions of property management agents is to ensure proper management of tenants. You have invested in property to make profits. In order to do so, your tenants need to be managed properly and the occupancy needs to be maintained at a high level.

    One of the primary tasks of property management agents is to keep the tenants satisfied. When tenants are not happy they would vacate the property even before their lease runs out. This reduces rent collection and increases marketing costs. You would need to again spend on marketing to get new tenants.
     
    Effective Tenant Management

    Good management property agents understand that effective tenant management involves good rent collection practices, consistent and fair enforcement of rules and regulations, regular communication with the tenants and responsive and timely handling of repairs and maintenance.

    A management property agent needs to consistently perform in these areas to ensure that there are less dissatisfied tenants, high occupancy rates, low marketing costs, and high return on investment.

    Rent Collection Practices

    So let us see what rent collection practices are all about. A good real estate property manager understands that collecting rents does not begin on the date that they are due, but on the day that the tenant filed out his or her rental application.

    Property management agents are required to check on past rental references, perform credit checks, and interview the prospective tenants. This is done to ensure timely collection of rents. If all the checks are positive in results, then the property manager goes on to sign the lease agreement.

    The lease agreement prepared by the property manager has to be very clear about on what date and time the rents are due. This helps avoid any misunderstandings later on. The lease agreement also has to clearly specify where the rents would be due. Another thing that it should specify is what happens in the event that the rent is not paid as per the requirements. Good management property agents take care of these details to establish a good relationship with tenants.

    Good property managers also understand that a good tenant might fall on bad times. So he establishes a clear understanding with the owner beforehand as to how to deal with such a situation. He or she knows how much room to give to a tenant.

    Responsive Handling Of All Repair And Maintenance Work

    In order to maintain good relationship with the tenants and to keep them satisfied, property managers need to ensure timely and responsive handling of all the repairs and maintenance. In order to do this job in a proper manner, management property agents should have a thorough knowledge of the property under their care. Furthermore, they need to maintain a balance between the cost of maintenance and the desired results.

    Maintenance Tasks 

    Maintenance tasks of property managers include

    • Maintaining landscape
    • Cleaning of common areas in the property
    • Heating and air conditioning systems need to be serviced regularly
    • Regular inspection of plumbing and electrical items to ensure proper functioning
    • Maintenance of wood, roofing and other building components

     

    Property agents have to ensure that repairs that are of emergency nature are taken care of immediately. For example, cooling malfunction in the summer needs to be taken care of right away. Timely and responsible response to all repair and maintenance needs by management property agents ensure good relationship with tenants.

    So overall, good property managers understand how important tenants are and do everything they can to maintain a good relationship with them.

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  • TMI, “Too Much Information”
    By admin on August 23, 2006 | 78 Comments78 Comments  Comments

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    By Ronald Smith, PhoneSmart call center reservations specialist and business blog writer.
    Welcome to the PhoneSmart property management blog, where we talk about property management trends.

    We are living in the information age. The invention of both the Internet and the computer have boosted the opportunity to get a lot of information about a wide range of subjects that may not have been available before. You can find your favorite recipe for dinner tonight or the latest news going on in the world. Giving a lot of information isn’t always a good thing. Even though we have access to a lot of information, American’s attention span isn’t that long. Research has shown that even on the Internet, people generally stay on the page for about 10 seconds before they start to lose interest. These same rules can be applied to sales in the property management industry.
    The attention span of a caller is going to already be short. They have a lot of things on their mind. Depending on their situation, they have to worry about where they are going to move, how they are going to get there, which storage facility to pick, and a number of other factors. A lot of the sale is going to be in selling the facility. However, just like a good book or movie, you don’t want to lose the interest of the customer. You have to be careful on which self-storage amenities you give the customer. It’s a good idea to concentrate on a specific area of the amenities. We generally focus on security to let them know that their belongings will be safe. The same is true when they are just calling to speak with a manager or want an answer to a specific question. Learn how to try to keep it as brief as possible so that you don’t lose the customer or get them even more aggravated more than they were to begin with. Too much information isn’t always a good thing when you are trying to help a customer as best you can. In the self storage industry, developing your sales techniques are very important.

    Self Storage in KC, Missouri Our location is very close to Kansas City International Airport and just north of Zona Rosa.
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