Getting Tenants To Sign Leases For Rental Property Management Companies

Getting Tenants To Sign Leases For Rental Property Management Companies

posted by: Marina Shlomov in Owners Buzz

Waiting for the last minute increases the likelihood of the lease expiring, while also adding to the facet of uncertainty and reduced security for all parties involved. Moreover, an expired lease may even adversely affect your reputation from both the leaseholder and the rental property owner.

A common and obvious scenario, with which most property owners are quite familiar with, involves the rental property manager failing to get the tenant’s signature on the lease. This scenario mostly happens after the manager informs the landlord of their rental property being rented, and ends up with the tenant withdrawing from the tenancy. Since other applicants were informed of the new status of the property, the vacancy period is unnecessarily extended till the process is again initiated from scratch. For those who are unaware of such a reality, prospective tenants can retrace their previous decision, unless they’re bound by a legal contract, i.e. a leasing contract and it’s all legal.

Five Steps To Reduce Vacancy Cycles

Following are a few simple and easy steps we use to minimize uncertainty in our rental property management services.

1. As intermediaries, we believe we have a responsibility towards both parties involved with us. Security for the landlord and the leaseholder is of the utmost importance. Therefore, initiating the renewal process three months prior to the expiry is optimum. As it provides ample time for both parties to negotiate for a renewal or for the tenants to seek out a new place.
   
   
2. We’ve always worked towards ensuring that our tenants sign the lease along with their verbal acceptance. We follow a 24-hour window protocol, which allows us to reduce any potential loses in terms of rent revenue. Digital lease signing is utilized to speed up the rental process.
   
   
3. One of the most important aspects of rental property management is the simplification of the leasing process. Streamlining the process helps speed up the process. It’s extremely important for both parties to acquire a lease. However, we feel it’s more important that tenants understand the contracts in their entirety. Hence, we do this several times, on the phone before the lease is signed, in person during our move-in walk through and follow up with a set of printed documents handed to the tenant with all the important aspects of the lease highlighted.
   
   
4. We try to incentivize the process to ensure that the lease is signed in a prompt fashion, which offers security to the tenants as well as the landlords which is why we use digitally signed leases that are followed up with actual signatures that are obtained at move-in walk through. We prefer to give out welcoming gifts as a token of goodwill and put together a package of useful things that will keep our name and emergency numbers in front of the tenants.
   
   
5. As a prime rental property management firm in Atlanta, we’ve seen many tenants choosing to not renew their leases due to increases in rent, only to regret their decision later on when they are unable to find another suitable property. In our experience, providing the tenants with honest market analysis goes a long way. A lot of time renewing a lease at a slightly inflated rent turns out to be the cheaper and more convenient option. We also utilize a two rewards programs, one to show our appreciation for a good tenant make them feel good about renting from us, and the other is a referral program. There is no better advertising then the word of mouth.

ALH|Podland Rental Homes Property Management

We are the premier rental property management company in the Atlanta. If you feel overwhelmed managing your own renal properties or feel that your current rental property manager has performed inadequately in renewing new leases, consider contacting us with your property management needs and see how we improve the overall experience. Visit our website at www.alhpodland.com or check out more articles on property management in our OwnerBuzz.

Rely On Professionals For Real Property Management

Rely On Professionals For Real Property Management

Rely on Professionals for Real Property Management

ALH|Podland Rental Homes has been professionally managing single family homes since 2008, we are not a large company, but we treat each home as if it was one of ours and each homeowner as if it was one of us.

We have spent last six years perfecting our systems and processes and improving the way real property management is done so you can trust ALH|Podland professional property management services. Our responsive team of highly-trained specialists is prepared to meet the extensive demands of real property management – 24 hours a day. Our licensed builder oversees all maintenance issues and has a crew of professionals to resolve any issue that comes up. From evictions and troublesome tenants to marketing and understanding legal issues, as well as having an attorney on retainer, we know what works, what rents, and how to get more from your property-with less disruptions for you. We have the experience, licensing and insurance to save you money, help you make money and avoid costly mistakes.

Real property management can be a difficult business, which is why more investors are leaving their properties in the hands of professional property managers. Whether you own one rental home or a large portfolio of investment properties, ALH|Podland Rental Homes has the expertise you can count on and trust.

Investment Face-Off: Rental Property Vs. REITs

Investment Face-Off: Rental Property Vs. REITs

posted by: Marina Shlomov in Owners Buzz

Investment Face-Off: Rental Property With 6% Or Even 7% Cap Rate Vs. REIT With 8% To 10% Return

This was too good to pass up as I have this discussion with my brother on a monthly basis. My brother owns REIT’s as well as rental properties and the monthly discussion is always comparing. This article, very simply lays out not only the immediate benefits of Rental Properties and REIT’s, but long term tax and appreciation benefits of rental properties. I totally agree with the writer and think that owning rental properties is a much better investment for long term investors. But don’t let me go on and on, read the article for yourself and you make the judgement. Please let me know though what conclusion you came to after reading the article. I am just curious.

Click here to read the full article

How To Intelligently Invest In Real Estate Property

How To Intelligently Invest In Real Estate Property

The first question on every individual’s mind, how does one intelligently invest real estate portfolio, one that is capable of delivering the greatest ROI? Well the answer is simple, as an investor you need to know what to look out for and hopefully by the end of this blog you’ll be familiar with a few of these metrics and indicators.

Socio-Economic Climate

Before a property can be deemed “investable”, the investor needs to evaluate a few macro-economic factors that affect the whole region instead of a particular property. The most important fact is the current job market and further prospects of employment growth. If a job market for a particular region grows at a steady rate it induces labor migrations, which creates new demand for property and pushing the price upwards on the chart.

Similarly fiscal policies also have a great deal of impact on the property market, as fiscal conditions have an inversely proportional relationship with affordability. Changes in interest rates greatly influence an individual’s ability to purchase a residential property. When fiscal policy is tightened, i.e. increased the cost of acquiring a mortgage increases and vice-versa.

Financial Indicators/Ratios

A rent-to-value ratio is a quick and easy way to understand the potential cash-flow of investing in a particular investment property. R/V is the monthly rent which is divided by the total cost of acquisition or purchase. Generally a value of beyond 0.7 is considered acceptable however you want a value of over 1 as your ideal benchmark.

Another simple and easy financial metric is the cash-on-cash return, which helps determine the real rate of return regarding a potential real estate investment. Cash-on-cash return is the net cash-flow which is divided into the total cash invested, you want the rate to be higher than your other potential investments.

Organic Evaluations

It is important to understand that these metrics are an attempt to predict the future performance of your investment. However, they should be taken secondary to other more organic forms of evaluations. For example, the physical condition of the property, overall market conditions and various other screening processes such as:

Capitalization rate factors expenses, vacancies and incomes while discarding the effect of debt servicing. The advantage of using this is that it factors in both incomes as well as expenses. However, it can easily be tampered artificially by deferring expenses.

Delinquency ratio is extremely important as well as it gives you vital information on management factors such as tenant screening, eviction processes and collection efficiency. Properties areas where delinquency rate is higher than normal, usually requires addition evictions and maintenance.

When you’re determining if a property investment is worth the amount you’re about to risk, you’ve also got to look at it from the layman’s perspective such as the quality of the property. Would you live in it? Is the location safe, how is the neighborhood, are people moving out from the locality or moving in. Is the price of the property reasonable or is it too inflated? These few questions are extremely important as you go out to invest in real estate, as a matter of fact these are important any all forms of investments.

Property Management

Now that we’ve helped you create a decent real estate portfolio and as you become the next real estate mogul, you’ll need the best property manager to help you along your way. After all someone’s got to look after all the new properties you’ve added to your portfolio. Since best practices in property management are integral to the long term success of real estate investing, you can contact the best property manager in Atlanta, Georgia.

ALH|Podland Rental Homes Property Management

We are the premier rental property management company in the Atlanta. If you feel overwhelmed managing your own renal properties or feel that your current rental property manager has performed inadequately in renewing new leases, consider contacting us with your property management needs and see how we improve the overall experience. Visit our website at www.alhpodland.com or check out more articles on property management in our OwnerBuzz.

Property Management Companies: Is it Smart to Hire One for Your Rentals?

If you’re serious about building a profitable portfolio of rental properties, you will inevitably be faced with a critical decision about your future. Are you going to manage these properties yourself, or will you hire a property manager to handle them for you? Make no mistake about it, this is a huge decision about how you’re going to spend your most valuable asset (a.k.a. your time). As with any big decision, there isn’t necessarily “one right answer” that applies to everyone. We all have different reasons for pursuing rental properties, so it’s important for you to understanding why you’re in this business in the first place. What is it you want out of your rental properties anyway? Whatever your verdict is, the path you choose for your property management will have a major effect on what your future looks like – so to the extent that you can, it’s important to get this right from the start. I’d like you to stop and think about which of these statements best describes you: Statement 1: “I want to create a job for myself as the manager of my rental properties.” Statement 2: “I want to retire early with a solid portfolio of passive income from my rental properties.” Read The Full Article

ALH|Podland Rental Homes Property Management

We are the premier rental property management company in the Atlanta. If you feel overwhelmed managing your own renal properties or feel that your current rental property manager has performed inadequately in renewing new leases, consider contacting us with your property management needs and see how we improve the overall experience. Visit our website at www.alhpodland.com or check out more articles on property management in our OwnerBuzz.