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As your property management company grows, your maintenance game has to level up, too. Read on to learn her detailed strategies for leveling up your maintenance workflows. Knowing When to Enhance Your Maintenance Workflows Updating your maintenance workflows can be tricky. How long do turnovers take?
That being said, license plate readers can be effective access control solutions in condominium parking garages. Table of contents How do automated license plate readers work How are LPR systems used in condo buildings? If you’ve ever driven on a toll road, you will have encountered a license plate reader (LPR) system.
Lula is excited to announce that Bridge Homes, a leader in high-quality single-family rental homes, has chosen Lula as its maintenance source provider for its Atlanta properties. The post Lula Selected as Maintenance Partner for Bridge Homes’ Atlanta Portfolio appeared first on Lula.
Preventive maintenance isn’t just about maintaining appearances; it’s about ensuring long-term performance. The Real Risks of Deferred Maintenance Postponing routine maintenance or skipping inspections may seem like a cost-saving strategy, but it can lead to much greater expenses and legal exposure over time.
I still feel that familiar sting when a maintenance charge trims the rent deposit. Maintenance Technician Wages A solid, full‑time W‑2 tech earns ≈ $25/hour (payroll taxes, benefits, and training already baked in). Need a licensed HVAC, plumbing, or electrical pro? The Real Costs Behind a Repair 1. We’re an open book.
Signed into law in September 2024, California Assembly Bill 2622 (AB 2622) introduces updates to the Contractors State License Law that directly benefit property owners and renters. AB 2622 raises the dollar threshold for contracting work that does not require a licensed contractor. What Is AB 2622?
But great property management goes beyond handling maintenance requests or collecting rent. Preventative Maintenance and Vendor Accountability Maintenance delays can hurt tenant satisfaction and your bottom line. Below are five key qualities that define high-performing property management companies in Los Angeles.
Before breaking into a new market, research its local landlord-tenant regulations, rent control laws, eviction policies, licensing requirements, and other relevant restrictions. For example, Buildium can automate tasks such as rent collection, maintenance requests, lease tracking, and much more.
Lula has officially partnered with Rent Manager, one of the nations leading property management software platforms, to deliver an AI-powered, seamless maintenance experience for single-family and multi-family property managers and owners nationwide. Lula was built to make maintenance easy by functioning as an extension to your team.
This core management fee usually includes essential services such as rent collection, resident communication, basic maintenance coordination, and lease management. Tenant satisfaction, consistent rent payments, and timely maintenance are all critical to minimizing vacancy loss and protecting your building’s reputation.
Do Leasing Agents Need a License? In many states, leasing agents do not need a real estate license if they’re only work in the business of renting properties, not buying or selling them. However, there are some states that do require leasing agents have a license, like Virginia. Let’s find out.
Think of it like this: all the tasks still get doneleasing, rent collection, maintenance coordination, owner reportingbut the work happens from laptops, mobile devices, and cloud-based platforms. But is it the right fit for your business? What Is a Virtual Property Management Company?
An HOA reserve study might not sound exciting, but they’re one of the most important tools for keeping community associations financially stable. This assessment serves as a roadmap for any repairs and replacements that the HOA will need to make in the future. It helps you determine the steps you can recommend to improve the communities you manage.
The property manager role typically includes: Marketing and leasing rentals Coordinating maintenance Communicating with tenants and owners Handling rent collection and evictions Managing vendor relationships Staying compliant with local and federal laws It’s a rewarding but demanding job. Step 3: Understand Licensing Requirements Most U.S.
Whether it’s age, tenant wear, or environmental stress, repairs often demand immediate attention to prevent more expensive maintenance. Unexpected Maintenance Requires Fast Action Systems fail without notice. Utility bills, staff wages, or licensing fees still need payment. Vacancies happen, and so do late payments.
Will your bookkeeper, leasing agent, or maintenance coordinator need access? Implementation Advice: Rolling Out Software the Smart Way Rolling out new software takes more than buying a license. Resident portals and maintenance tracking help tie financial tasks to daily operations. Think about who will use the system.
This guide covers what you need to know about leasing, communication, maintenance, budgeting, staffing, compliance, technology, and growth strategies. Use digital tools such as tenant portals, SMS platforms, or messaging apps to keep renters informed about maintenance, building updates, rent changes, or policy shifts.
From late-night maintenance requests to navigating complicated housing laws, many owners reach a point where they start looking into professional help. When most people think about property management, they picture someone collecting rent or handling basic maintenance. Coordinate repairs with licensed and insured vendors.
Establishing solid vendor relationships is vital for cost-effective property maintenance and high-quality work. This is true for everything from system maintenance to landscaping services, cleaning services, emergency repairs, and beyond. Whenever attainable, check with vendor past clients and local licensing boards.
One that ranks high is appliance maintenance and repair. Preventive maintenance remains key. But compressor issues or refrigerant leaks demand licensed HVAC pros. Keep a maintenance log. With awareness, proper planning, and proactive maintenance, you can tackle the top five breakdowns with confidence.
Between handling guest bookings, coordinating cleaners, juggling maintenance needs, and staying on top of local regulations, what starts as a promising investment can quickly become a full-time job. Managing a short-term rental can be rewarding, but its rarely simple.
Review their software platforms, vendor agreements, and maintenance processes. Confirm that the company complies with local licensing and regulatory requirements, including trust accounting standards. While this approach still works, it can take several years to reach significant growth milestones.
In this article, we’ll look at some common leasehold improvements, compare them with regular maintenance, discuss who typically pays for them, share a few tips, and more. These improvements are often considered capital assets and may require landlord approval, licensed contractors, and lease review before starting.
If you’re still entering maintenance requests or answering every owner email, your business is running you. Create workflows for: Owner onboarding Maintenance coordination Lease renewals Tenant communication These become your company’s infrastructure, not just temporary fixes. That way, you build structure that scales.
Understanding property ownership is useful for lease clarity, maintenance issues, verifying legitimate owners, and it’s generally legal to research this public information. These days, it’s easy to feel like it doesn’t really matter who owns the property you’re renting. Use Zillow Zillow isn’t just for browsing homes.
Most guides will tell you to register an LLC, get licensed, and open a bank account. Step 4: Handle Maintenance Like a Pro You cant afford maintenance chaos especially when starting out. Cool but thats not what builds a business that actually runs without you. Messy work orders kill trust with owners and burn your time.
A truly local PM knows the inspectors, the vendors, the licensing process, and how to navigate DC’s quirks. Compliance Confidence From your Basic Business License to lead paint disclosures to inspection scheduling, DC’s requirements are non-negotiable. Clear, Transparent Financial Management Rent collection, repair costs, tax prep.
Adjustment to threshold for items that need to be added to reserve study Any other item that has a deferred maintenance expense or replacement cost that exceeds $25,000 must be added to the reserve study. can be used to host board and membership meetings. The deadline was 2024, but it has been extended to give condos more time.
It covers nearly every aspect of property management, including leasing, rent collection, maintenance tracking, and accounting. You are using an outdated browser. Please upgrade your browser to improve your experience and security. whenReady(function (form){ form.onSuccess(function(values, followUpUrl){ form.getFormElem().hide();
Why Lenders Suddenly Care SB326 requires every condominium association in California to inspect its Exterior Elevated Elements (EEEs) —balconies, decks, catwalks, exterior stairs— at least once every nine years and file a licensed engineer’s report with the city. Evidence the HOA has a reserve line item to fund ongoing balcony maintenance.
Austin considers the context of primary residence, extended oversight, and licensing requirements. Misclassification (such as treating a regulated let as unregulated) can lead to fines and enforcement action such as suspension of your license, or loss of tax deductions.
Does the standard fee include tenant placement, rent collection, routine inspections, maintenance coordination, and financial reporting? How Do You Handle Property Maintenance and Repairs? Understand their process for both routine and emergency maintenance. Clarity on maintenance procedures can save a lot of future frustration.
Assess the Age of Your HVAC System HVAC systems typically last between 10 to 15 years, depending on maintenance plans and usage. When routine maintenance and component replacements fail to correct these uneven conditions, it typically indicates systemic failure.
HOA Summer Preparation: 11 Things to Do From maintenance works to managing financials and documents, here are 11 things that you need to include in your to-do list for the warmer months. Having licensed professionals assess your property can save the community money in the long run.
Heres what youll need to have ready: A valid ID Like your drivers license or passport. Tour With Confidence: Ask questions, take notes, and picture yourself living there. Think Through Roommates: They share rent and legal responsibility. Understand the Lease: Read the fine print it protects you. There are no fees or tricks.
Bring in a licensed pest control professional. If you spot roaches often, especially during the day, that’s a red flag. Roaches usually hide, so when they’re out in the open, it often means the problem is bigger than it looks. In addition to that, you might also notice an unpleasant, musty smell around the kitchen or bathroom.
Once the dust settles and your lease has finished, are pet deposits refundable? O ur residential property management in Northern Virginia will break it down for you. When Are Pet Deposits Refundable? Believe it or not, pet deposits aren’t always refundable. Congratulations! ” As such, youre more likely to receive a full refund.
Tax Benefits and Deductions Depending on where you’re located, STRs may qualify for different tax deductions , like maintenance, furnishing costs, and even marketing expenses. One of the biggest right now? But what is STR in real estate, and why is everyone from investors to Airbnb hosts talking about it? We’ve seen it happen before!
No clients, no license, and no formal experience in property management, just two founders in an apartment with a shared belief: we could build something better. At some point, every late night, every maintenance call, and every spreadsheet had to evolve into a system. Systems create freedom. Efficiency isnt about cutting corners.
Then, you need to maintain contact with maintenance vendors, such as trade professionals. They market the property and manage its maintenance using quality contractors and even tenants. It’s a lot, right? You are not alone if you feel like your “passive” investment isn’t very passive at all! Leave it to your property manager.
Robust vendor relationships are the key to accomplishing both cost-effective property maintenance and high-quality work. This includes everything from system maintenance to landscaping services, cleaning services, emergency repairs, and more. If possible, check with vendor past clients and local licensing boards.
From tenant screening and rent collection to legal compliance and maintenance, property management services take the stress out of ownership while maximizing returns. Pros: Time savings: Managers take care of tenant communication and maintenance. Managing rental properties offers great rewards but requires significant time and effort.
Florida Statutes and Regulations Do You Need a License for Vacation Rentals in Florida? State Licensing Requirements Through DBPR Local Permits by County and City What Are the New Rules for Landlords in Florida in 2025? The point is to create a statewide registry and standard license/fee structure. So What’s the Problem?
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