PropertyZar

Managing commercial properties can prove to be challenging. This is especially the case whenever multiple properties are concerned. Imagine being in charge of over six large commercial buildings. Without a doubt, you may end up being overwhelmed by such a responsibility. In the end, you may make losses or even fail to successfully maintain the wellbeing of your property. Fortunately, there are certain steps that you can take to successfully maintain your property. This applies to all kinds of properties including warehouses, flats, farms, boarding houses, hotels, and villas. The method is clearly described below along with the best ways to get the right results out of it.

Using software to manage properties

Generally, managing properties of any size depend on a number of things. In some cases, they depend on the number of tenants that are occupying the property. It is well understood that managing a significant number of tenants is usually a great challenge. There are issues to do with

Web-Based Property Management Software Integration with Dotloop 

PropertyZar, an affordable web-based property management software announcesour integration with industry leader, Dotloop®. 

PropertyZar is a fast-growing property management software solution and with this latest integration, PropertyZar can provide property managers with transaction management. 

This integration allows property managers and landlords to transfer data from PropertyZar into Dotloop®, which will then autofill leases and contracts.

This will save the landlord time by eliminating the need for duplicate data entry.

PropertyZar simplifies the managing of real estate properties. PropertyZar includes these key features:

·  Online Payments

·  E-Leases (now with Dotloop®)

·  Work Order management

·  Communication via Email or SMS

·  Apps for Onsite Property Inspections, Owners, Tenants and Vendors

·  Complete Accounting

·  Property advertising/syndication

·  Schedule Appointments

·  Automatic Reminders for Tasks, Work Orders,

If you own rental properties, you understand the challenges that’s involved in the management of them. Managing local properties, is doable however if you are an out of state owner, managing rental properties becomes very difficult. That might be the time to hire a property management company.

A long-distance property manager is not a slam dunk either. There are some things to consider for a successful relationship. Here are a few:

How to Find the Right Property Management Company

A property management company can make or break you on your long distant investment property. A management company needs to be your business partner and be your boots on the ground. They will oversee your investment and that includes taking care of the property as well as keeping your tenants happy.

Property Inspections

Be sure to ask how often they do onsite property inspections. It’s amazing to learn that some property managers never inspect the property after the initial tenant moves in. You should require at

Do you manage real estate properties with HOAs? Is communication with your residents something that is common for you? As 2019 begins, HOA board members should consider offering feedback on how the HOS can improve the community and make it a great place to live.

Responsibility

Tenants should take responsibility for abiding by the CC&Rs and staying current on their HOA fees. Violations of the rules or failure to pay the HOA fees/dues is not a win for anyone. HOA boards have a lot of power over the property owners.

Sharing

Tenants should have the ability to express their ideas, suggestions and their concerns in order to help improve the community and build lasting relationships. Residents are important in sharing the thoughts of the community. They should be included in the regular board meetings.

Building Relationships

Tenants should make an effort in participating in any events, social or cultural activities in the community. This gives them the opportunity to meet their neighbors, build

All the talk about a 2019 downturn may end up being exaggerated, just a bit. There are some signs of a slight decline, primarily due to the uncertainty in the market. However, many of these are simply overblown.

The economy’s fundamentals are strong and there seems to be a good amount of momentum. This is good news for property management companies. As multifamily real estate continues to grow investor’s portfolios, property managers should have a positive 2019.

REITs

This 2019 also is gearing up to be a positive year for REITs as well. Rising interest rates don’t affect the REITs like other sectors.

Market Ups And Downs

Experts are always trying to predict the next downturn. Recessions are somewhat predictable. Imbalances are one cause of recessions. The imbalances between supply and demand. Too much multifamily construction projects that exceed demand will eventually require a correction in the market.

Too much debt also can be a factor in market shifts, primarily downturns. With real

The self-storage market has seen significant growth over the past decade. It seems Americans continue to collect too much ‘stuff’ that doesn’t fit into their homes. That’s all great for property management companies. However, the industry is changing.

Increase Of Self-Storage Units

There has been a significant increase in self-storage construction as demand has risen.

With new construction comes the inevitable rent adjustments. Current storage unit owners are realizing that they are having to cut some rent to compete for business.

2019 is expected to see the same growth pattern, with more construction of more storage units. Even so, the occupancy rate remains very high because, let’s face it, we love our ‘stuff’.

While new construction is taking place, all estimated new units will account for less than 10% of overall market. This is considered a development phase.

With the increase in storage units, this will require property managers to maximize their use of  property management softwareto

The choices for multi-family investors continues to grow for 2019. Sure, there are concerns about higher interest rates, property values and high inventory but that doesn’t seem to affect the availability of capital sources. This is good news for property management companies. As the real estate market remains strong, more investors will rely on property managers and property management software to support their portfolios.

Debt Funds

There are several equity funds that are providing financing for developers by way of debt funds.

These ‘bridge loans’ can go as high as 85% of the property value with competitive interest rates.

Once the property has been completely leased, the developer can move to a more permanent type of loan.

Interest Rates

Even though there have been some recent rate hikes, rates are still considered low for traditional permanent loans.

In 2018 Q4, Fannie Mae and Freddie Mac have been in the area of 4.25% – 4.50%. These loans also cover up to 75% of the property. That is

Since I am in in the property management software business, most all my blogs are related to property managers or landlords. However, this blog will cover a new federal program for real estate investors call Opportunity Zones. While it may benefit property managers or property management companies, it’s definitely geared towards real estate investors. With that in mind, read on!

The Genesis

Sean Parker, the co-founder of Napster (not part of the gold heist with Mark Wahlberg) worked with law makers on a new program call Opportunity Zones. The states governors are responsible for identifying low income census zones in their respective states.

Today, there are approx. 8700 defined Opportunity Zones nationwide. The zones are geographical areas that have been designated as investment opportunities that will benefit the community as well as those investors who participate in the program.

The program was created by the federal government in an effort to drive private investments into the low

Is there any special way for property managers to handle multiple roommates per lease?

Common Issue

This is a common issue for landlords and property management companies. My first advice is to spell out the details of guests and roommates in the initial lease. Be upfront and make sure you specify all the details that you want up front. Ask the new tenants, do you plan to have frequent quests or visitors? Depending on their answer, you may want to include those individuals on the lease.

Avoid Mistakes

If it’s not in the lease, don’t make exceptions, unless you want to update the current lease. Make sure you are protected as much as possible. If the tenant falls on hard times and needs to bring on a roommate to help with expenses, make sure you are aware of it.

You will want to have that roommate complete an application and go through the same background screening as everyone else. Screen them as if they are a new tenant for you. A good Property management software usually offers the

When it comes times for your tenants to move out, landlords and property managers must decide if they can return the entire security deposit or not.

1 in 4 tenants say they did not receive the amount of return they were expecting. So, what is the deal?

Full Security Deposit Refund

Believe it or not, most property management companies want to return the full deposit to the tenant. Why? Because it would mean that the property was left in the same condition it started in. That’s good for the property management company as well as the property owner.

But the fact is some tenants do cause damage or leave the property in a state that requires some work to be done for the property to be “move in” ready.

Wear & Tear Vs Damage

States have established laws to help define what is wear and tear vs damage. In general, property management companies can deduct damages from the tenant’s security deposit. Here are some examples:

Wear And Tear

1. Minor nicks or nail holes in walls
2. Wood floors losing their finish