accounting-property

The 2 New Innovations Drive Productivity in Property Management Accounting and Spend Management

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Every job involves new implementations and innovations that can make a work more advanced and easier. When it comes to the innovation in property management, it should be noted that there are a couple of things that are considered to be the innovations. For this occasion, we have prepared a quick overview of the innovations and what they can bring in terms of better work and cooperation. Have in mind that these innovations are changing constantly, so we are present the current innovations in this business.

Software

Every business industry requires you to stay up-to-date with the latest innovations so you could be among the best of the best in a certain niche. Yes, software is updated constantly regardless of the industry and field of work and you must keep up with the latest software improvements to ensure the maximum productivity. Generally, software can optimize several things in property management including addition, replacement, maintenance setups and the allowed budget. The software connects the asset/estate with the manager/internal staff, making everything much more automated and faster. Depending on the type of software for property management, you can organize your vacancies, usable spaces, ongoing tenants and many more actions!

This not only helps you in the whole organization but rather keeps everything tidy and well-organized so you could have fast and accurate access to any of the data you might possibly need. With just a few clicks, you can search all your estates, tenants, see who has not paid the rent yet, see any potential problems or send the announcements. In any way, the latest software is a must if you want to be successful in property management.

Hardware

Although many agents focus only on software, it is a great advantage when you utilize the latest hardware upgrades, specially made for the property management industry. Yes, you can count on the reliable hardware that will make your life much easier, especially if you manage a lot of estates and tenants. Sometimes, it is just impossible to make a record of every single thing you have in your apartment. To avoid possible problems, you can buy a SCADA device, which is one the latest tech-estate-related gadgets. The SCADA (Supervisory Control And Data Acquisition) allows you to keep track of all your equipment in an apartment.

Namely, the device monitors in real time the status of your electrical appliances in the apartment, and in case of electric breakdown or leak, you will get the notification about the problem so you could check the problem. The SCADA device also can track your light in the apartment and adjust the lights accordingly, and therefore save your electricity bill. This also eliminates the possibility for lies, as no one will be able to lie if they break something down but do not want to admit. Do have in mind that this piece of hardware is not that cheap, but it allows you efficient tracking and monitoring so it is definitely worthy of investment.

Property Managers

How Property Managers Can Face The Challenge Of Scale Head-On

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As the business grows, the number of possible problems that could show up also grows, making you nervous. Still, your job is to recognize the upcoming problems and identify the successful solutions to them. Keeping up with the challenges is not easy in any work, especially not in property management to be honest. The property management can be really stressful from time to time, especially when a set of new challenged emerges. Now, there are several things that property managers can take to make all those challenges easier and more approachable. Note that you will need to develop a unique approach for the specific set of problems and this means that you should perform some additional research.

Keep up with the market

No one develops a product and leaves it like that, without any further research of the market or a potential improvement for a product. Your market should be researched continuously, otherwise, you will have a set of bad decisions that came out of the obsolete predictions and market information. The customers who are looking for something will always look for alternative places to buy the same thing/service if it is cheaper. But, to offer a cheaper and better solution at the same time, you need to have an insight into in-depth and more precise information, meaning you need to research the market.

One of the key things is to communicate with customers. As a business owner, you will want to understand the needs of your clients. Consider using some software that can, utilizing the set of input data, predict the potential problem, need or solution to customer’s needs. You can do this on your own or you can hire someone to do it for you.

Have your plans ready

It is essentially important that you revised your plans regularly all the time, as conditions and needs change very often on the market. In case you build and launch a good business, your job is to keep the existing customers, but also to attract more of them and expand your base. As new customers improve your balance, new solutions also cost you some money. This is exactly why you need a proper plan, which can be greatly different from the one that existed two months ago, as the market dictates the changes and needs. The regular revisions of your plans is an imperative!

The appropriate skills

Yes, you can have all the money of the world, but if you do not have the necessary skills, it is worth nothing. Form a team of skilled workers who want to succeed in property management but only take skilled agents who already have experience. If you are not a small startup, you desperately need a certified and skilled workforce to make your brand name known and authentic among many others. You need skillful people who know how to listen to the market and identify the upcoming challenges that you might encounter. Besides, sometimes you do not see that you are doing something wrong, and you will need a cool guy that will warn you, not because he likes you, but because it is simply not good for business. The point is that you give someone enough space to organize things properly if you are not capable of.

Real Estate

How To Start My Own Real Estate Business?

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Have you ever wondered how cool would be to start your own real estate business? Are you looking for a reliable source of information that allows you to learn and therefore successfully launch your business? We have managed to pull out the most important facts that are crucial for your startup and thanks to the professionals we have talked to, you will be able understand the basic things you need to do in order to start a real estate development company.

You must have a plan

Business planning takes a lot of careful revising and reviewing many aspects of your future project, whether you are just starting a simple shop or a real estate business. The main goal of the business plan is to definite your goals, as well as the direction where your business is going. Secondly, it is the best way to show your potential clients and customers how you are and how you arrived in that position and why you want to start. Of course, in case you do not have any experience in real estate, the best way is to schedule a consultation with a professional agent who has been working for a long time in this industry. Never schedule a consultancy meeting without preparing your business plan as you need to obtain a professional review of your plan.

Educate yourself

Besides the plan and the consulting, you will need to read books on this topic and educate yourself further. The good idea is to take a real estate course and educate yourself on this subject so you could be prepared for different challenges, but also to be familiar with some basic terms and procedures. The more you learn, the easier the whole matter becomes. The Internet is full of places that offer free teachings, so make sure you check these out. Another thing you might want to do is to check the free tutorials you can find on Youtube as they are available in abundance.

Do market research

Market research is one of the basic principles for every business. No great project has ever started without investigation and research, remember that. Before you launch your business, you should check the market current conditions and state in order to understand what it actually needs at the moment. Do not be afraid to perform an early market research to save yourself time and money. The majority of young business projects have a struggle in the first year, while things start to fit into places after a year or two. You can even check your skills when checking the market and see what could you possibly learn additionally, to improve your skills.

You must have a brand

The fastest way to become an authority in a certain niche is, of course, having a good brand. Not only you distinguish yourself among the competition, but you also improve your relationship with the clients. Make it as personal as possible, as you need something that the clients will use a s the recognizing mechanism, which will be: Oh, that is him/them-they are the best! Of course, it is not an easy task to make your brand just like that, but it is the easiest way to become the favorite choice among clients.

Home For Sale

3 Must-Do’s Before Listing Your House for Sale

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When selling your house, you need to make sure you arranged everything up so the place looks cool and normal. Have you ever wondered what you need to do before you sell your house? Should you hire a home sale preparation service from a professional real estate agency? Or you can pull it out on your own? Well, it is not that easy to perform everything you need and prepare your home for selling, as long as you have time and will. Below are the three steps you must take in order to sell your house successfully.

1.    Buy more light bulbs and perform a thorough check

Yes, no one likes the homes that are lacking of light or a home where bulbs do not work. Light bulbs are at the same time providing the light but also a decorative concept that can transform your room into the whole different setting and environment. Make sure you buy enough bulbs in case you need a replacement, as you will not have time to go and buy a one once the client arrives to see the house.  Therefore, a thorough check of all electrical appliances and electric bulbs is a must.

However, thorough check involves a lot more than just that – you would want to check all the floors, carpets, surfaces and smells. All the surfaces must be whipped down, cleaned and polished, and all the carpets must be clean and free of any dirt or stains. If you cannot perform all these on your own, you should call for a professional cleaning service so they do this for you.

2.    Hire a professional photographer

Unless you are an experienced photographer with real estate experience, call the professionals so they could take professional photos to present your home. As you want to present your home to the potential buyer, you will need professional and high-quality images. An experienced photographer will know where, how and what to take picture of, as there are some important facts you must consider when taking a photo. Since photography is a science for itself, it would be wise to call a professional to take the photos.

If, on the other hand, you would like to do this on your own, it would be advised to take a photography course. Not only you will not know how to use the camera, but you will learn what you need to take a picture of in a certain situation and case.  No one likes to see a listing of a big house with no pictures, or what is even worse, with poor quality pictures.

3.    Mae sure you depersonalize your home

This is one of the biggest mistakes that people make. Never leave your personal photos hanging on the wall, just to fill in the blank space. Instead, buy cool photography and hang it in the same place but try to pick the picture that will suit best in your room. Put away any toys, collectibles, magazines or awards that are personal belongings. You want to create a warm and welcoming home so your potential buyer would buy it, not a place of your personal items. No one likes this, so make sure you remove all the items that are personal.

problem-tenants

Tenant Troubles: Who Is Responsible for Problems in Your Rental?

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The biggest inconvenience that can happen in real estate business, especially when renting an estate, is having a problem with a tenant. When we say a problem, we think of an unpaid bill that your tenant has not paid. All kinds of troubles and issues may arise when renting a place, but who needs to pay for a plumbing or carpet cleaning service? Who needs to pay for heating repairs? Well, we have prepared a few situations so you could know how to act.

Moldy walls and damage inflicted by water

Mold is a common problem in houses and it should be taken seriously as it can produce serious illness or allergies in some cases. Once the tenant spots the mold in its place, he is ought to inform his landlord to solve the problem. The landlord needs to hire a cleaning agency that will perform the cleaning and get rid of it. If, the tenant has not caused the mold presence, the landlord must pay for this problem. Otherwise, if the landlord can prove that the tenant caused the problems, the tenant should be responsible for the payment.

Electrical appliances

The landlord has a duty to secure all the basic electrical appliances for the rental, though the tenant is able to bring with him any of these if needed. The landlord is ought to service, repair and buy new appliances if needed, and he is solely responsible for the repairs and servicing of the appliances that are included in the price and the original listing. The tenant is responsible only for his appliances. However, if it happens that the tenant breaks somehow any of the appliances, he must pay for the repair. Otherwise, you as a landlord, have a right to sue him.

Pests

Pests can occur due to many reasons, whether it is negligence or a simple “it happens” case. In any way, no one likes pests and surely does not want any of them in a house. As a landlord, you are legally obliged to perform pest-cleaning tasks to make sure no pests are present in the house that is listed. The bed-bugs inspections are pretty much normal activities that every landlord should do before renting the estate. If the tenant has not provoked in some way these pests, the landlord must pay for the cleaning. As no one wants these in a house, everyone will try to solve things as soon as possible. But do have in mind that you, as a landlord, MUST ensure there are no pests in the estate!

What to report and what not if you are a tenant?

The tenants are required to call the landlord and inform him about every change that took place. A bathroom leakage, a mold problem, or a simple broken piece of wood – all of these must be reported so the landlord could solve these. It is recommended to have renter’s insurance in case you are renting a home so you could protect your items in case of an emergency situation or a disaster. While it can be purchased easily in just a few clicks online, it is more than affordable and all tenants should have this.

how_to_make_a_small_bathroom_look_and_feel_bigger

10 Ways to Make a Small Bathroom Look Bigger

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Bathroom is one of the rooms that can greatly influence the overall price of the estate. If it happens that you have a small bathroom, you might consider to make it bigger, as this can greatly increase your price of the home once you start selling it. While it is better to have a spacious bathroom than the smaller one, making it bigger requires a lot of things to do. Luckily, you can use some tricks that will definitely make your bathroom look bigger, without breaking the walls and expanding it.

Avoid dark and over bright colors

Dark colors are not for bathrooms, period! You want to keep the contrast at the medium or low, and white color is exactly what you need as it gives the feeling of spacious space. Also, avoid using dark wallpapers as these will make your bathroom look even smaller than it is.

Tiles must be matched

If you use multiple colors and different tiles on floor, walls and ceiling, expect to see an unbalanced bathroom contrast that will make your room smaller. If you use one color or two-three variations of the same color additionally, you can expect to get more space.

Use vertical tiling

Yes, vertical tiling will remove the “border” of tiles and therefore make your space much bigger. Usually, showers have tiled walls, but the tiles do not go all the way up, but rather to the point where the shower ends. For that reason, place the tiling all the way up to the ceiling.

Use the sliding doors

While the doors must be opened well without problems, sometimes these cannot work properly due to small space. The best alternative is to use the sliding doors. You will not take up too much of the space, but you will have fully functional door.

Bright lighting is a must

If you do not place enough light bulbs in a bathroom, you could get a small room that lacks of light. You can use window to deliver the natural light, or you can add more bulbs to illuminate the room and make it fresh and big.

Mirrors

Placing the big and wide mirrors will create the illusion of the big space, even though it is not. Remember that these can be a bit expensive, but they will give you much more than you will pay for. This is the best way to make your bathroom bigger.

Contemporary design of furnishings

Yes, modern design makes everything look nice and bigger! The sleek fixtures and the modern elements can transform your small bathroom in a cool and spacey room. Of course, do not use too much of these, as it can produce the opposite effect.

Shower glass

Glass always comes in handy when you consider making your space bigger. Shower curtains are a bit of old-fashioned so consider using the glass. Though it is a bit expensive, it will “enlarge” your space and make your bathroom look spacey and modern.

Use storage carefully

Place the cabinets in the way that they do not create a bulky feeling. Place them carefully to save the precious space inside the room. These cabinets can be used to store all the chemicals you use for the cleaning.

Utilize towel racks

These can greatly increase your space as they are built in the wall. They allow you to hang your towels, without sacrificing too much of your space.