Maximize Your Assets & Minimize Losses Through Better Property ManagementPosted on October 5, 2011 by
In these tough economic times, we need to maximize our assets and minimize our losses. That is why great property management is essential. When we spend the time to screen a tenant properly on the phone, we are truly saving money. Our need to be more efficient and effective at answering the calls from potential tenants allows us to be able to spend time with our family. When you are already spread thin by work, and family your ability to create a system to screen, meet and decide if that applicant should move into your property is vital. When a bad tenant moves into your property the cost can be exorbitant.
Let me tell you the time I let a biker move into one of my properties. I think a better story would be the one where I let strippers move into my building. The short story is I spent more money fixing and repairing than I made in rent off of these two groups. If I had been more patient and creative I, would have gotten a better class of tenant. When you sign up for the upcoming 2 day Property Management Workshop, you will learn how to use neuro linguistic programming to screen tenants. Learn How to train potential tenants to abide by your business model.
One of my big mistakes in property management was not staying up with the trends in tenant profiles. I let my old tried and true method keep me from having 95% occupancy. My marketing went stale. I was losing too many prospects. I asked for suggestions from my mentors but was not able to resolve the problem until I read a book on business management. Learn that information to get the biggest bang for your marketing dollar.