Archive | For Property Managers

Property Management: The Basics

Every material thing that you have may very well be considered an investment. Whether they are expensive or inexpensive, the fact remains that you have spent money to get it and that makes it an investment. Therefore, management has to be implemented so as to make sure that such materials do not go down the drain.

This is precisely the reason why property management has surfaced. To start with, property management pertains to oversee, controlling, and operating real estate or your investment. More specifically, it is also about the processes and systems that make a property survive its every phase, which includes acquiring, controlling, maintaining, and utilizing it. It usually involves the management of the property of an individual by another experienced individual.

Here are some more interesting and useful information that you can get about property management.

  • Usually, the property is overseen by the property manager who acts in representation of the property owner with the intent of generating income from the property while making sure of its preservation. While doing so, they are being paid a fee or are able to receive a percentage of the rental from the property owner. Though the fees may vary, the current usual rate is around 7 to 10 percent.
  • Real estate brokers can also be property managers. This especially happens when the broker handles a group or set of real estate properties of the same kind. For example, he or she may manage resorts in an area and may offer agent services to prospective buyers or renters.
  • Property management saves the owner from a lot of headaches and related stress. It is the property manager or management company who will have to shoulder responsibilities like repairs and maintenance, tenant calls, rental agreements and disclosures, and other similar stuff. However, owners need to understand that property managers are not obliged to pay bills or mortgages in their stead.

Property management is very helpful. However, it is not imperative. The decision still lies in the hands of the owner. However, making a decision as to whether property management is necessary or not would be based on the number of properties a person has and how strong the cash flow is. If there is a lot of real estate to manage and income is good, then it would be practical. However, if the opposite is true, getting such a service may only be an additional expense.


Marketing for Property Managers

With the advancement of technology, everything has really become so reachable despite of geographical locations. Especially with the internet, almost everything is already intertwined. This makes it necessary for businesses to get on the bandwagon and be at par with its competition as far as getting customers is concerned and maintain competitiveness. That includes the real estate businesses.

It is important for real estate businesses to understand that online customers are as important as face-to-face ones. Because online transactions are more convenient, such businesses also need to make their online presence and visibility strong.

Based on the National Association of Realtors, 68 percent of people looking for homes used mobile searching to contact a realtor. In addition, 89 percent of such shoppers used their mobile devices to search. Lastly, 21 percent of them found their agents from their online search. This further proves that businesses should give equal weight to attending to mobile users.

But this should not be a problem. Check out some tips that can help you reach and be reachable to your mobile user-customers.

  1. Use a responsive website. This can be done by simply changing your template. A responsive website can automatically change its size to make it fit and suit a mobile device used for searching. This is especially easy for websites that use the WordPress templates.
  2. Try making a mobile website. This entails more work than the first one. This website contains the same data that your regular one has. However, when the user accessing your website uses a mobile device, the website detects it and using the code that you entered to connect the mobile one to it, the customer is able to open and navigate the mobile page.
  3. Make a new responsive design website. This means that you need to pay for more. However, it is convenient for your customers, as they do not have to type in a different web address. It is also beneficial for you because you maintain only one website.

Businesses should not ignore these tips. It might mean the difference between getting more customers and losing them.