Are you a property investor who is planning on renting the property out? If the answer to this question is yes then you will be one of the many people who are in need of a property manager.
When it comes to handling and managing all of the aspects that are involved in the rental business it can often become overwhelming. Many people who buy property with the intention of renting it out lack the necessary skills to Continue Reading »
How to Determine the Value of Commercial Property
Investing in commercial real estate is quite lucrative if you are an intelligent investor, who has a property purchase plan from the beginning. Before you ever make a move to begin the purchase process, it is wise to take a look at the property to project the potential value of your investment.
Not all valuation methods are created equal
Before discussing Continue Reading »
Finding a good property manager is like any other vendor search – it’s worth your time up front to make the best possible choice. That’s because a bad manager can cost you a lot of money, up to the entire value of your rental property investment. Consider:
• Your property manager will be receiving rent and fees on your behalf. A crooked manager could steal you blind.
• Your manager will be Continue Reading »
While many property managers still use Excel spreadsheets or a pencil and paper to manage their investments, there are much better tools available. The property management software you choose should be flexible, inexpensive and easy to use.
You need a really flexible rental property program because, as a property manager, you never know what tomorrow may bring. You might need to get details about a property o Continue Reading »
Five Considerations of Hiring Property Managers
1. Management Fee
The property owner needs to understand the purpose of the management fee (typically 10%). The percentage management fee pays for the property manager’s time. The 10% allows someone else to help shoulder the burden of owning the property. The owner is paying for someone else to field 2:00 am calls. It is important to remember that the propert Continue Reading »