Want To Be a Property Manager But Don’t Like Accounting? We Have You Covered

People get into property management for many reasons.  There is the recurring income, for some it is working with people, for others it is the ability to get out of the office and help onsite.  But the hang up for some is they don’t like accounting, so what are you to do?

 

When starting a new business you don’t have to do it all yourself.  You can keep the activities you enjoy and hand off the rest.  If accounting is one of the areas you don’t like, as well as piecing together systems to track all of the accounting, you have an option.  I started Community Financials to help managers with the monthly accounting activities for Condo and Homeowner Association (HOA) management.  We offer a choice of the top 2 softwares in the industry by market share Caliber and Tops One.  We provide you a login to see all the accounting info and also use all of the software’s capabilities (work order & violation management, etc).  We handle the dues collection, deposits, bill payment and monthly financial reporting.  You keep your relationships with your clients and we run in the background and answer any accounting questions you have.

 

If you are an aspiring condo manager or HOA Manager looking for software or accounting support visit our website for more information or give me a call at 833-CONDO-HOA.

Published on April 16, 2019 in Business Start Up, Property Management

Recession Proof Your Life

The average business cycle is 61 months long going back to 1950.  We are much farther along at 106 months we are in the 2nd longest business recovery in US history.  When recessions come along real estate sales drop and construction activity drops along with related professions and the general economy.  One thing that doesn’t drop is property management – it is a stable business – some say recession proof.

If you have thought about getting into property management I encourage you to start now.  Some economists are predicting that along with higher interest rates the economy will start to slow later this year and enter a recession in 2019.  So why not give your self a little insurance?  If you need help you’re at the right place.

Published on May 1, 2018 in Property Management

Opportunity from Low Interest Rates for So Long

Interest rates have been low for an extended period of time to stoke the economic recovery after the Great Recession.  This environment leads to house appreciation and also people using equity in their house to purchase second homes (sound familiar).  One area where you may have more opportunity in property management is in managing second homes.  You can target communities that are popular second home spots – by the beach, by ski mountains, etc.

There may be more homes that need help than the current companies can provide – or they may be stretched thin with not enough staff and therefore not keeping up with service – this opens up opportunity for you.

Good luck!

Published on April 8, 2018 in Property Management

Property Management Explosion

My wife and I like renting a house when we go away with our son.  Its more affordable than renting a hotel room in many cases and you can prepare your own food and do laundry making it even more affordable than a standard stay at a hotel.  The short term rental of houses is a booming and growing segment of property management – think HomeAway or Air BnB.  Helping people to manage a 2nd house that can produce income for them is a very beneficial service.

This segment of property management has its challenges though – you have to go to the property more often to check if cleaners did their job and the place is ready for the next renter.  You often have to meet renters at the property at the start or end of the stay – although i have seen key boxes and cleaners suffice to let renters in and then check on any damage.  This is much more intense than managing rentals where someone is in the house for a year.

It really depends on your location if this is in demand and if you are interested in this segment of property management.  Good Luck!

 

Published on January 26, 2018 in Property Management

Property Manager as Concierge

With the dawn of VRBO (Vacation Rental by Owner) and Air BnB – there are more opportunities to be a property manager to handle a second home or vacation property for an owner.  The Concierge manager is one title for someone who handles these short term rentals.  The manager may play a role in vetting the renters, marketing the property, doing contracts, collecting fees and meeting renters on site to turn over the keys and give instructions on how to operate systems.  They then walk thru house after renters leave, schedule cleaners and return any security deposit due.  In some instances they help with stocking fridge with groceries, getting baby cribs delivered and other time saving chores so the renters can focus on other vacation plans.  Your area may be a good match for this service.  Good luck!

Published on April 4, 2017 in Property Management

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About the author

Educated at Cornell University. Trained in the United States Army. Russell Munz has taken resources from both of these experiences to benefit you with the documentation included in the Quick Start Property Manager Program. Read more about Russell…

Why this Property Managment Program?

This is a step-by-step guide to becoming a property manager. It walks you through your first 30 days, provides you with checklists, forms, and templates and most of all, shows you how to find clients so you can start earning money fast!

Take a closer look: Front cover | Table of contents | Introduction | Back cover

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