Happy Halloween: Remove the Scary from Property Management

5 Tips to take the Halloween Scare out of Property Management

The truth is, nothing is more scary than the unknown, and sometimes property management and corporate housing can fall into that category. As in all haunted houses, when you turn on the lights the reality is far less scary than your imagination. That is why, here at CHBO, we work hard to share with Happy Halloween - Corporate Property Managementyou all that we have learned about managed corporate housing. Success in real estate comes when you know what to expect, you plan ahead and you connect with your goals. Loosing money is VERY scary so don’t do it.  Don’t waste money on the wrong property upgrade!  Don’t waste money on the wrong tenant! Don’t waste money on the wrong investment! Let’s get smarter about property management.

Ask us About Property Rental

Yep, sometimes the solution is that easy. Don’t waste time trying to do the wrong thing. If you have a question about your rental, your tenant or what to do next, just ask us. We have a Team of Property Specialists available through live chat, email and even on the phone.

Research

Basically this just means plan ahead. Don’t wait till a tenant doesn’t pay their rent to find out what to do.  Start by understanding your State Laws and your responsibilities as a landlord. For almost 10 years we have been adding to this blog so search on any topic you can think of and see what answers you can find. Also go to your CHBO Membership Dashboard to find additional free resources.

Prepare

In setting up your rental property we talk about creating a Property Manual. This tool may take you some time up front, but in the end it will allow both you and your future tenants to have the information needed to ensure your property is well taken care of and profitable.

CHBO Complete

Understanding tenant’s expectations, setting the correct expectations and meeting those expectations is the number one rule in corporate housing rental success. Since it is the unknown that it scary, think of CHBO Complete as the answer. Having a standard itemized list of everything your property provides will also make your property less scary to future tenants.

Property Rental Reviews

Propr, less scary, for future tenants to rent your property because they have the added information of what your previous erty reviews accomplish two huge steps in making real estate property management less scary. First you can make it easietenants thought about your property. Secondly, because it is now easier to get your next tenant, your future rental successes also looks less scary.

ps…Halloween means it is time to Winterize your Real Estate, have you done what it takes to take the scare out of Winter?  

Learn more in the Corporate Housing Handbook.

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2 Comments

  1. Patrick F.
    December 3, 2014

    Great tips – thanks for sharing. I really like the idea of creating a property manual. While perhaps initially time-consuming, it could save the property owners, property management team, and the tenants a lot of time and frustration down the line by having everything compiled into one thorough document.

    Further, I agree that hiring a property management group is often one of the best things an investment owner can do. With so many rules and regulations to abide by, it’s difficult for many owners to know all of the details involved in owning and managing a property — not to mention the headaches that could come along with tough tenants.

    Reply
  2. Julia Carlson
    December 1, 2014

    I have always thought that property management was really scary. Anything hard to understand is scary for me, and property management is definitely hard to understand. I’m glad you wrote this article so I could learn more about what property management is really like. I’ll follow your advice and do a lot of research before getting into this business.

    Reply

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