Do You Have Boundaries In Your Business?
The Property Management Coach | Business Coaching Blog
by Stacey Hagen
1M ago
Do you struggle with setting boundaries? After coaching business owners for nearly 9 years now, I’ve found that many do, including myself. Here are some examples of boundary issues in business: An owner client continuously calls after hours and expects you to return the call. An owner client/resident pops into the office or calls and wants to discuss an issue now. A vendor keeps promising to drop off an invoice for a move out and deposit return but never shows up. Your priority is to get new property management agreements to owners, but every time you put it on your calendar, something else ..read more
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Efficiency and Effectiveness: A Property Manager’s Guide to Time Management
The Property Management Coach | Business Coaching Blog
by Arleen Atienza
1y ago
As a property manager, you have a multitude of tasks on your plate. On any given day, you’re showing properties to potential tenants, collecting rent, scheduling repairs, finding properties for your clients, and the list goes on. This would be fine if you were managing only one property, but what if you’re overseeing several properties spread across different cities, counties, and states? We’ve compiled a few time-saving strategies to help you maximize your productivity, allowing you to find success, regardless of how large your portfolio grows. Start your day with a solid plan Creating a to ..read more
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Lessons Learned from SVB Collapse
The Property Management Coach | Business Coaching Blog
by Melinda Emerson
1y ago
As we March to the end of Q1, the unfortunate failure of the Silicon Valley Bank (SVB) last week affords us another opportunity to highlight a few financial lessons to learn that you can apply today. 1. Don’t put all your cash in one bank…especially if you have more than 250K liquid. FDIC insurance only covers up to $250,000 per depositor, per banking institution. Pick a second bank. I suggest a regional, community or credit union. They offer more flexible lending terms, better rates and a personal customer relationship. Don’t put more than $250K in any one institution and be strategic w ..read more
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Top 10 Most Common Property Maintenance Issues
The Property Management Coach | Business Coaching Blog
by Property Meld
1y ago
According to Murphy’s Law, anything that can go wrong will go wrong. Though we prefer to see the world through a slightly rosier lens when it comes to property management (especially property maintenance), it remains true that things will inevitably “go wrong.” So utilizing our data, we compiled a list of the top 10 most common maintenance issues you can expect to encounter as a property manager. Whether you manage single-family homes or multi-family units like apartments, you are likely to experience at least one of these common building maintenance issues. 1. Air Conditioning (14.2% of all ..read more
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Encouraging Professional Development for Property Management Employees
The Property Management Coach | Business Coaching Blog
by Arleen Atienza
1y ago
Encouraging professional development among employees pushes them to improve their skills, gain confidence, elevate professionalism, and become experts in their field. Learning and developing the right abilities will also make them more productive and efficient, which opens better career opportunities and allows them to contribute to the success of their company. But in an industry as demanding as property management, it can be difficult for employees to pursue professional development while fulfilling their responsibilities. It’s up to the company to take the lead in encouraging worker progre ..read more
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4 Ways to Finance the Improvement of Your Rental Properties
The Property Management Coach | Business Coaching Blog
by Lisa James
1y ago
It’s getting harder for owners to invest in improvements for their rental properties now that inflation rates are increasing. The U.S. Department of Labor revealed that prices for all household furnishings jumped by approximately 9.3% in recent years, which is much higher than the price increase on all goods. In fact, the price of kitchen furniture rose by 19.9% over the past year, while appliances shot up by 8.5%. These price increases can be very concerning because furniture is vital in increasing your rental properties’ value. Remodeling the kitchen is included in our list o ..read more
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A Property Manager’s Guide to Renovating a Home: Top Considerations
The Property Management Coach | Business Coaching Blog
by Ted James
1y ago
Renovating a home is a large undertaking and one that is typically full of surprises. Though many property managers anticipate the unexpected, it’s impossible to fully prepare for unforeseen expenses and issues that may crop up during any given project. That said, some issues are more common than others. Use this brief guide from The Property Management Coach to brush up on what to expect during a home remodel, as well as top considerations. Top Concerns Whether you’ve renovated a home before or this is your first go-around, there are some issues you will run into for which you can never full ..read more
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Labor Day
The Property Management Coach | Business Coaching Blog
by Kathleen Richards
1y ago
Labor Day Celebrating Property Management Milestones, Goals and Accomplishments For many Labor Day is a three-day weekend. For others it is about labor unions, and employee rights. In Europe it is a day of peaceful protests and parades. So, what does Labor Day mean to you the Professional Property Manager? 1. Reflect September ends the 3rd quarter of the year, and it is a perfect time to reflect on where you are at, and what is remaining of your goals for the year. What have you checked off your list? What have you implemented or changed to make your business more efficient? What new services ..read more
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How To Handle Problematic Tenants
The Property Management Coach | Business Coaching Blog
by Jennifer Dawson
1y ago
Filling vacant properties with tenants will help you on your way to becoming a good property manager. However, being a property manager often comes with a host of tenant-related problems. 90% of all property management complaints come from tenants, according to Fourandhalf. Then, there are tenants that miss their payments, damage the property, and violate the rules. You can’t just turf these tenants out, so here’s how to handle them the right way. Rent Issues Bloomberg reports that more than 8 million renters across the U.S. are behind on their rent. This is a difficult si ..read more
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Turning Your Home into a Long-Term Rental Can be a Smart Investment
The Property Management Coach | Business Coaching Blog
by Brad Krause
1y ago
Property ownership has always been a good investment. And right now, with the shortage of available homes driving the market, it makes sense to hold off selling a home while allowing the equity in it to grow. That’s why so many homeowners are choosing to rent their homes out instead. Long-term rental properties are becoming scarce along with available homes for sale, creating a thriving market for rental properties. Advantages Owning rental property is a great way to supplement your income and can help pay down your mortgage sooner. If your home has been on the market for a long time, you ca ..read more
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