Top Issues for SMB Property Landlords
We should stop for a moment to appreciate how good landlords have been throughout the last century.
They’ve been model business people with their hands-on approach in how they attract customers, create cash flow, resolve operations, financial and people issues, and turn a profit. They’re good with people and help tenants enjoy a normal life at home.
Landlords are models of efficiency in a hands-on, face to face business environment. Yet, today with property portfolios and regulations growing, poverty, and uncaring tenants who argue and don’t cooperate, and with rental administration on the increase, their job is becoming painful.
Search online and you’ll find almost no content that is positive about landlords. You often find that situation with anyone who is overloaded with work. Appreciation disappears.
It may be the personal lives of landlords where the first stress cracks appear.
Perhaps it’s time to look at all the landlord issues, discuss why they’re happening, and how to carve out a new business process or path to take? At some point in time, you’ll need to take this journey into technology and enjoy the peace of mind it gives.
Top 3 Landlord Pain Sources:
1. cash flow
2. tenant non-payment
3. demands of daily landlord work
The Real Role of Property Software
When you think of software for property management, do you think of it as a fancy bookkeeping system which adds another layer of work and expectations? Some do.
Do you suppose your vocabulary and attitude toward software could be making you misunderstand the value? Instead, what if you thought of it as a landlord profit solution or a business management optimization system?
The property management system automates a work process which eliminates the very tasks that plague you.
Most business today, from accounting to finance to operations is being run on these cloud-based, 24 x 7 hour systems. They are automated solutions and they crystalize standards, expectations and processes. They take away the friction from landlords.
Your Laundry List of Issues Keeps Growing
With rent controls, payment defaults, cash flow short falls, rising taxes, rising maintenance and repair costs, sudden emergencies and costs of replacing appliances, tenant turnover problems, tenant neglect, long workdays and personal relationship stress, compliance with laws, financing, taxes, and bookkeeping all conspiring to make your work life difficult, the stress is ever-present.
A process takes away the friction and encourages your tenants to behave optimally — such as with the online rent payment, tenant communications portal, and an eviction process.
Paying rent is a good case in point. Are you letting your tenants reside without an updated, signed, ongoing lease? Do they pay in cash? Do they want to pay another way? Here’s a great way to de-couple from friction and let the system streamline revenue collection.
The system helps them see their lease responsibilities so they understand non-payment consquences.
Streamlining Workloads and Automating Compliance to Rules
The beauty of property management software is it streamlines, removes friction from the landlord/tenant relationship. When you adopt a low cost cloud based software solution, it will change how problems interface with you. This onus on rules and for others to meet contract obligations then eases your cash flow, tenant issues, and workload pain.
The maintenance ticket system encourages them to report issues, so you can keep ahead of them. That means fewer midnight calls for mechanical or plumbing matters.
Silently and efficiently, the software creates a buffer zone to give you your life back. The solution helps prevent your landlord pains. But that’s only the first part. Next, is your ability to present new profit generating services.
Check out ManageCasa today and review element you’ll be controlling via your landlord interface. It’s a cloud based property management software which can solve your most pressing property management issues. ManageCasa is designed for landlords and property management companies.
See also: Rental Management Software | Software Reviews | Rental Property Software | Property Maintenance Software | Property Management Trends | Property Management | Property Management Leads | Evictions for Landlords | Compare Property Management Software Review | Housing Market | Apartment Rental | Best Cities for Rental Property | Start a Property Management Business | Property Software