Oh, Excel. Look at you with your hundreds of columns and fancy mathematical equations. Why do you look so professional when really you’re making property managers’ lives hell?
It’s because Excel was not made for trust accounting. In fact, it’s probably costing you time and increasing your stress-related computer rage. You might justify using spreadsheets because you only have a small rent roll, or because it’s what your predecessors used, or because you think that using software would be costly and just not worth it. So why is Excel so bad for your business?
Excel is not an intuitive system
While it’s great for manually typing data into tiny rectangles, spreadsheets are not made for automatically generating invoices that you can print or email your tenants, owners or suppliers. Due to the lack of a central database with multiple components, Continue reading
Here in Cleveland it seems that a new apartment building is popping up every week. You see new “Now Leasing” signs posted on the curb side, new banners hanging on the side of buildings, ads popping up on google for the “New hot place to live”, or “Luxury loft living”. You even see advertisements for apartments while watching your favorite sporting teams.
According to a study done by economist Stephen S. Fuller, PH.D of George Mason University Center for Regional Analysis, the number of apartment residents is growing. It went from 36 million in 2013 to 37 million today. In just 2 years it has grown by 1 million residents. This is great news, as it has added roughly 190.7
billion Continue reading
Common Area Maintenance (CAM) charges are one of the net charges billed to tenants in a commercial leases, and are paid by tenants to the landlord of commercial properties. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed Continue reading
Even though spring has not quite sprung yet, this is the time to start considering your spring maintenance plans.
The snow melts and the rain starts. So do the leaky pipes and roofs, the cracked paint, the weed surge and the potholes. How do you keep your residents happy in a time like this? You better get those work orders entered in to your property management system, and have your maintenance team on top Continue reading
The way a property looks is determined by many different factors. It is not simply the maintenance of landscaping or the dumpster overflowing. All the components have to match in the puzzle of aesthetics, and every little detail will come together and become one great looking property.
Besides from current property maintenance tasks, the following may be a few other “upgrades” you can take into consideration.
- What do you require from your tenants?
If you are dealing with a commercial building, what are the restrictions regarding window displays? Windows, signs and curtains have a big effect on the appearance, and even though you might think everyone will want their storefronts to look tip-top, people have different ideas of what tip-top means. Set up some guidelines, and Continue reading