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When Property Management makes the most sense

Investing in real estate is an invaluable way of growing your wealth when done sensibly. But how can you manage your properties to curtail delinquencies, free up your time, market your property, avoid long term vacancies, sign new tenants, maintain premises, and carry out other associated responsibilities?

A dedicated, knowledgeable, and reputed property management firm can address your needs. It can mitigate uncertainties and ultimately protect your long term investments. Laser-focused companies help you maximize your returns while minimizing turnovers. They have all systems put right in place to handle day to day operations, perform inspections, oversee maintenance, assist with taxes, manage relationships, provide regular updates/ reports, and better optimize the entire property investment process for you.

Besides, having an experienced team by your side becomes even more critical if you own an out of state asset. Someone who can keep their eyes on the property and be immediately available under emergencies becomes essential. Plus, with their industry know-how, they can provide legal expertise to ensure state wise compliance. Many real estate investors consider partnering with an exceptional property management firm for they’re worth their weight in gold.

If you require assistance with managing and protecting your Texas investment property, we can guide you through! When you hire the Class A Management team, we assure you that your property returns are well optimized. We also provide exceptional customer support services, retain/ sign quality tenants, and use proven technologies to manage relations and other daily operations. We have a proven track record for helping investors with their multifamily investing decisions. Contact us to know more about our services – we’re one of the most trusted and competent property management companies in Texas you can rely on.

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What is Property Management?

What is property management?

Property management is a scalable service that helps real estate property owners manage successful investments. Property management companies come in many different sizes, from a single property manager who lives on-site in an apartment complex to a large-scale company that manages properties for many different landlords for a fee.

What does a property manager do?

Property managers work to keep properties maintained and rented within a fair and profitable business model. From marketing to general repairs, managers work for both the property owner and the tenant to provide excellent customer service.

It all begins with establishing a relationship and management contract with the property owner. Property managers then set the rent, market the property to find and vet the right tenant, and work with the tenant to make sure the property stays in good working order and that the rent is paid on time.

Benefits of property management

Landlords who manage their own properties sometimes end up spending most of their time finding tenants or performing maintenance and repairs. Property management companies can ease that burden by employing industry best practices and leveraging resources not available to property owners. These companies often have rental applications and contracts designed to protect property owners and tenants from unfair practices and litigation, which is a win for everyone involved. Property managers also maintain real estate properties, which preserves their value. In addition, a good management company will provide a landlord with detailed expense reports and documentation that help simplify taxes for owners.

How to find a good property manager

The best property management companies offer consultation services even before purchase, helping prospective property owners through the vetting and real estate purchase process. Comprehensive property management services include marketing, operations, maintenance, accounting, and even disposition consulting when it’s time to sell. Ask any property management company you’re considering about their professional affiliations, what their occupancy rates are, and how they approach tenant disputes or non-payment issues.

Whether you’re hiring a management company or looking for a great rental property for your next home, finding a company with a great track record is essential for long-term success. Class A Management offers comprehensive management services, and our seasoned professionals are committed to serving our landlords and tenants fairly and efficiently. Contact us today to learn more about how we can customize a services package for your single-family or multifamily property. Maximize your investment with a team that offers the respect, value, and experience you and your tenants deserve!

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Multifamily Property Disaster Prep for Owners

Multifamily Property Disaster Prep

When you hear “Hurricane Katrina,” failure is the first thing that comes to mind. The levee system failed, sure, but so did the people responsible for the safety of the city. We all know the horrors of Katrina could happen again, and when you’re a property owner responsible for the health and safety of hundreds of people who live in a building you own, it pays to be prepared. Do you have a multifamily property disaster plan in place?

The term “emergency preparedness” is bandied about by every agency known to man these days, but what it means to commercial property owners can be different – and simpler – than what it means to city government.

The first thing any property manager should know is what type of disasters they should prepare to meet. Fire is always the number-one enemy of stick-built structures and the people within them; but is your property also in a flood zone? Would you feel the effects of a weak hurricane, or could a Category 5 storm move far enough inland to require you to have a hurricane plan? How prevalent are tornadoes in your area, and do you know when tornado season begins so you can prepare your tenants with that weekly “safety tip?”

A little advance research can pay off big-time when disaster strikes. Having rock-solid plans in place can also help management establish that sense of community with residents that is so important for compliance. It also doesn’t hurt to tell them, “We’re all in this together.”

For a property manager who knows how to establish and implement emergency preparedness plans, contact Class A Management. We know property management, and we know how to plan for anything. Call us today at 817-295-5959 or e-mail, .

Sources: “Emergency Preparedness,” National Multi Housing Council, www.nmhc.com.

 

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The Power of Multifamily Property Video Tours

We know that the best renters may not be scanning the local paper to find a new place to live. They may be out of town or they may be local, but studies have shown that wherever they are, they go online to find a home. Make the most of those brief Internet contacts with potential long-term renters, and offer a video tour of your property’s best features to bring them to your doorstep.

Video Property Tours

Stepping away from advertising realtor-speak and into more descriptive language is the first thing any landlord can do to improve their property’s image. Instead of a 3BD listing, maybe describing the rental as having “plenty of room for everyone in the family” would be more effective in attracting the right kinds of renters. Just imagine how much more effective those words could be when paired with a virtual walk-through that shows exactly how much room that unit really offers.

Appealing to prospective tenants visually is effective, but an online tour is even more effective because it engages rental shoppers in the tour process. They get to decide how many times to watch the video and which amenities interest them the most. Then, if they like what they’ve seen online, they’ll visit your property in person. That’s when your staff’s winning personality and a sense of community can reel them in and make them feel like a catch worth keeping.

The professionals at Class A Management are well-versed in all the latest forms of property promotion, and we know what attracts the best renters. Contact us today at 817-295-5959 or e-mail, .

Source: What Makes Video Effective, content.clubhousetours.com/2010/10/06/what-makes-video-effective/