How Do Property Managers Communicate With Owners

How Do Property Managers Communicate? What To Expect With Your Property Management Company

Communication between owners and property managers is essential.

Different property managers will have different ways of communicating with their clients, so make sure you know what to expect.

Back in the day, we would send letters and notes and since then, we have improved our communication abilities thanks to technology.

Now we use emails and cell phones to get in touch.

There are lots of ways to contact people.

Make sure you are effectively using those tools when it comes to managing your Salt Lake area property.

At Advanced Solutions Property Management, we use technology to our benefit and the benefit of our owners.

We have an online system that allows property owners to log onto their accounts and see everything we are doing.

Not only can they see what is happening, they can comment on it.

This is helpful because if a property owner has a question on a work order, it is easy to leave a comment on that work order and then the comment is immediately shared with the property manager working on that particular property.

They can respond right away.

All of us are available to answer any questions or hear any comments, including myself and the other owner of the company.

But on the day to day operational issues, we make it very easy for owners and property managers to communicate.

The software we use helps you to reach us anytime you want.

Your property manager should also make sure all of your documents are available to you.

You should be able to see applications, walk through and inspection reports, deposit forms, leases and all the other paperwork required with a rental property.

We post those documents to your portal so you can download and view them any time you want.

Our owners see every work order and how much the work costs.

Everything is viewable in our system and with a few clicks you can access the status of each work order.

This is available to you 24 hours a day, seven days a week.

As I mentioned, if you have a specific issue that you do not think can be addressed by our online system, you are always welcome to get in touch with anyone here to discuss the problem.

We have found that this system has worked well in keeping our owners and property managers connected.

If you have any questions about communication or what is involved in residential property management in Salt Lake, please contact us at Advanced Solutions Property Management.

How To Advertise Your Rental Property In Salt Lake

How To Advertise Your Rental Property In Salt Lake

Are you a property owner in Salt Lake City, and want to know how to effectively advertise your rental unit?

The goal is to minimize vacancy and increase your overall tenant quality, and there are four ways to market and advertise your rental property effectively to achieve this.

1. Clean Units Attract Clean Tenants

The first thing I tell people is when you are getting ready to market a unit, you need to really clean it well.

As we say in the industry, “Clean units attract clean tenants!”

It’s going to look better for the pictures, and also look better for showing.

It might seem obvious, but a lot of times we see less than clean units when we take over.

2. Professional Photography

The next thing is an added expense, but we think it’s well worth it– hiring a professional photographer.

For the cost of a professional to come in, and when you reduce your vacancy by just two days, you can usually pay that off immediately. Plus, you can use the photos over and over again each time the unit is vacant.

So hire a professional, have them take some good pictures and you’ll be a lot happier!

3. Base Rents vs. Full Price

The next thing is how to advertise the rent level. What we generally say to folks is make sure you are advertising base rents, and that means to not include the cost of utilities or HOA expenses in your rent.

You want the tenant to be able to compare units “apples to apples”.

If the unit next door is advertising base rent, but you are advertising rent + utilities, the tenant will think they’re getting a worse deal. Then they may go with the neighbor’s property.

4. Online vs. Yard Signs

A lot of times people want signs in the in the yard, and really push to just have your advertising online.

There a few types of neighborhoods where a yard sign might work, like near universities and such, but really what we have found is that yard signs can lead to other issues like vandalism, breaking and entering the vacant property, and other situations.

The people that we’re looking for to rent these places have a smartphone, and that’s how they’re looking for their next rental.

If you would like to discuss advertising your rental, or managing your property in Salt Lake City, tap here to contact Advanced Solutions Property Management.

Salt Lake Property Owners Why Work With Advanced Solutions Property Management

Property Owners In Salt Lake: Here’s Why You Should Work With Advanced Solutions Property Management

The thing we are most proud of is our experience with managing Salt Lake area rental properties, and working with owners renting out a lot of different types of properties.

When it comes to understanding the rental market in various areas, we have a pretty good idea of what is going on in each part of the valley.

Salt Lake Property Owners Why Work With Advanced Solutions Property Management

For example, if you’re wondering how to rent your house, we know what works for rentals on the east side of the valley versus the west side.

We also understand what range of rental prices will work in different parts of the Salt Lake City area, because since the rental market varies, this will help you set your rental price.

We utilize technology in ways that other property management companies do not.

We have software that allows us to work with multiple clients and all of their properties.

This helps us to efficiently manage the day to day business of taking care of your property, and it also helps us to communicate with tenants as well as property owners.

Every property we manage is treated as if it was our own, as all of us here at Advanced Solutions Property Management own rental property ourselves.

I have my own properties, so whenever I make a decision on a property I manage I am basically making the same decision for my own rental homes.

Every action and decision is based on how we feel as property owners, and we take pride in treating your property like we treat our own.

Finally, we have the professionalism required to interact and build relationships with both our tenants and our clients.

Obviously, we aim to deal with our tenants in a way that is professional and respectful, and we find that when we are able to establish a good relationship with tenants, it is easier to keep the best tenants in place, which reduces turnover and vacancies.

We know you will be happy with the way you and the people living in your home are treated by us.

These are important things to consider when you are choosing a property management company in the Salt Lake valley.

If you have any questions about how we manage our properties, or you’d like to talk to us about your specific needs, please contact us. We look forward to hearing from you.

How To Deal With Difficult Tenants In Your Residential Rental Property

How To Deal With Difficult Tenants In Your Residential Rental Property

It’s a subject that many investment property owners deal with, but don’t often enjoy talking about– difficult tenants.

You know, the ones who create damage, are late with their rent payments, or straight up break the lease.

Today, Principal Broker and Owner Bob Mack shares some insight into dealing with difficult tenants, and how a rental house management company like Advanced Solutions can help.

How To Deal With Difficult Tenants In Your Residential Rental Property

Q: How can property owners prevent tenants from damaging the property?

A: The most important thing to have with any tenant situation is make sure that up front you have a very strong lease. We have a very strong lease that we use for tenants that has been developed over years.

That lease is going to allow you to act on infractions more efficiently than a weak lease.

Another thing that you will use to make sure tenants aren’t damaging the property is that you want regular scheduled inspections, including both external and internal inspections.

We like to do external inspections monthly, and that’s just a drive-by to verify the property condition, and to make sure the tenant is taking care of the outside. Generally, if they’re taking care of the outside, they’ll be taking care of the inside too.

We also like to do internal inspections on a regularly scheduled basis- either once or twice a year.

You’re notifying the tenant of entry, making entry, and then recording the results of that inspection.

Any time you find any infractions on the inspection, you want to make sure you act on that.

Most of the time, you’ll be using the “Comply Or Vacate” notice, which will notify the tenants of the items they have to fix, and then you will go and inspect after that notice has been used.

Many times, an inspection and a “Comply Or Vacate” can fix a problem that you encounter.

Advanced Solutions Property Management can make this easier for owners through our proprietary method with procedures and processes in place that automatically do these things on a monthly or bi-monthly basis, and we’re able to act on these to make sure tenants are behaving in accordance to the terms of the lease.

Q: How can property owners make sure tenants pay on time?

A: Again, it starts with a solid lease. You want to make sure you have a clear lease, with clear late fees. Once you have a tenant in the property, and you find there is a late payment situation, ymake sure you act accordingly and act the same way every month. Have policies in place to ensure to tenants can expect a “Pay Or Vacate” when the rent payment isn’t posted on time.

We have automatic rent reminders that go out on the first and the thirds of each month, and we allow our tenants to set up auto-pay, so rent is automatically withdrawn from their account at the same time.

Q: How can investment property owners best deal with out of control tenants?

A: This is also mitigated with a strong lease that allows you to take action within specific time frames. If we have a non-payment situation, and the tenant is unwilling to make payments, then obviously we are going to use the 3-Day “Pay Or Quit” on the same day every month for every tenant.

You want to keep those interactions business-like, you don’t want to use emotions in these situations.

Then after the 3-Day “Pay Or Quit”, you will move into the court action. It’s very important in these situations to record all tenant conversations and communications in writing. Phone calls are easy, but they’re hard to present as evidence in a court of law. We cover these situations in our free e-book

Q: How does a property management company handle difficult tenants differently than a landlord?

A: First and foremost, we don’t let emotion enter the scenario.

When it’s an individual landlord who owns the property, their emotions are tied directly to that property because that is an asset that they worked very hard to purchase and maintain, and so it’s very easy for a landlord to become emotional during these situations.

With a residential property management company, we keep the transaction very business like, and although it can be hard with difficult tenants, we make sure that we’re handling it in a professional manner, and not letting the situation escalate.

Also as stated before, we use processes and procedures that treat all tenants the same, so that every tenant understands what to expect from the management company in every situation.

Q: What makes ASPM better than other PM companies in Salt Lake

A: It’s the experience we have as a staff!

We have over 65 years of experience managing properties.

Also our managing team are investors themselves, so we manage properties as though we were managing our own properties.

We have very low staff turnover, and that allows us to manage more effectively.

We are certified commercial advisors, which allows us to work with owner investors, and make sure we maximize the return on investment that owners bring to us to manage.

If you’re interested in learning how a Salt Lake City area property management company like Advanced Solutions can help take care of the landlord tasks, so you can enjoy being a property owner… get our FREE “Property Management Pro Tips” e-book here.

How To Deal With (And Ultimately Avoid) Tenant Payment Issues

How To Deal With (And Ultimately Avoid) Tenant Payment Issues

Ask any property owner what keeps them up at night, and besides major repairs and market conditions, a common problem is payment issues from tenants. Bob Mack with residential property management company Advanced Solutions Property Management in Salt Lake City shares insights on how owners can avoid payment headaches with a few simple tips.

How To Deal With (And Ultimately Avoid) Tenant Payment Issues

What are common payment issues that property owners are dealing with?

Do you have tenants that are constantly just a little bit late with their rent payments? Maybe they’re always making their payments just after the due date, or always just a little bit short of the full amount.

Other tenants are constantly asking for more time, and over time it adds up and what they ultimately owe you grows too.

Other issues may include insufficient funds notices for paper checks. And once a tenant is behind on their rent, sometimes they’ll threaten to withhold payment unless you do a repair, which isn’t legal in the state of Utah.

The main takeaway here is that once a tenant gets more than one month behind in their rent, it’s very difficult for them to catch up.

Why are payment issues a big problem for property owners?

Payment issues are a problem for owners because the relationship degrades. Soon tenants avoid contact with their landlords, and that could lead to tenants not making contact with the property owners for maintenance issues, because they don’t want to interact.

Also late payments almost always lead to later and later payments if it’s not dealt with effectively at the beginning.

Like I mentioned before, once the tenant gets behind on their payments, it’s very hard for them to catch up, and that could lead to them not adhering to other terms of the lease.

If they’re already breaking the lease in one area, they could easily see that breaking other areas of the lease isn’t a huge issue for them.

Payment problems could lead to cash flow issues for the owners, because expenses like insurance and repairs and legal actions still happen even when the tenant is behind on their payments.

What’s one thing a property owner can do TODAY to avoid a payment issue?

The most important action an owner can take today is to create minimum rental requirements for their properties, and have those requirements in writing.

Make sure to adhere to those requirements with each applicant. Don’t let some go through, and others not, and never accept cash from a prospective tenant who wants to pay multiple months ahead of time.

At Advanced Solutions Property Management, we’ve found that if someone has cash today, you can’t be entirely sure where they got the money, or if they have employment or credit issues. Never have the tenant push you into signing a lease just because they have a few months of rent right now, because after those months pass they won’t be making additional rent payments.

How can a property owner benefit from having a handle on payments?

The big picture shows that your business will run much more smoothly if tenants are adhering to terms of their lease and making their payments on time.

This will allow you to concentrate on the important things like purchasing more properties and increasing cash flow, instead of chasing after tenants for payments.

Is Hiring A Property Management Company Worth The Money?

Is Hiring A Property Management Company Worth The Money?

Many people venture into rental properties unaware of the amount of time and effort it takes to actually manage them.

The truth is that sometimes, we just don’t know what we don’t know.

The larger a property is, or the more properties involved, the more complex, difficult and expensive it becomes to run them.

The main question for most property owners, “Is hiring a residential property management company really going to be worth my money?”

Is Hiring A Property Management Company Worth The Money?

There are specific situations where having a property management company overseeing your properties can be a huge advantage for you. This will save you countless amounts of both time and money.

Here are 5 reasons why hiring a property management company makes sense:

1. Decrease Your Vacancies

A property management company can help you by advertising your property, screening prospective tenants, and placing them. But, this is not all.

A property management company makes your property more desirable in other ways, too.

Hands-on care and maintenance management along with positive tenant relations will dramatically help your property’s curb appeal and reputation.

2. Collect Rent and Process Evictions

Collections and evictions can be two of the more uncomfortable and time-consuming responsibilities of owning a property.

Hiring good property management will take those responsibilities off your plate.

Having a streamlined process for making payments and clear and open communication will make collections more successful.

In the case that rent can not be willingly collected from tenants a management company can actually process an eviction for you, saving you the time and hassle of going to court yourself.

If you are a new property owner and not familiar with all of the legalities of the rental and eviction processes, a residential property manager could literally end up saving you a fortune! 

3. Maintenance Management

Depending on the company that you choose and the agreement you make, you may find that some or all aspects of maintenance management can be handled by your property management company.

This saves you, again, both time and money.

Hiring a full-time maintenance person is costly, and that is only after a long search and screening process to find the best-qualified individual.

Hiring a private contractor for each job would not only become tedious, but the cost would certainly add up, too. 

4. Tenant Management

People are not perfect, and not too often predictable, so tenant management is a major component of having a rental property.

If you only showed up once a month to collect rent, you would have no idea what was actually happening to your property.

To be legally and fully aware of what is going on inside your property, it is necessary to have professional move-in and move-out inspections.

The outside maintenance of the property should be checked regularly as well to be sure it is properly maintained. 

If you own several units or an entire complex, tenants will interact with each other.

As much as we would hope it would never happen, tenant disputes do occur.

This is where having a property manager who is familiar with both the property and the tenants makes navigating these types of situations significantly easier. 

5. Retirement

When the time comes that you want to retire or relocate, but you want to maintain your investment property, a property management company is a perfect choice.

Yes, you may need to pay out a little more in expenses, but hiring a management company means that your property will truly become a passive investment.