Important Tips Every Property Manager Should Know

Many individuals refrain from purchasing property even if they are in a healthy financial position to do so simply because they are not confident that they can manage the property effectively. Property management in NYC will require individuals to incur some expenses, but delaying maintenance or hiring unprofessional services will ensure that these expenses rise significantly. A property that has a poor maintenance history will be extremely difficult to sell on the market. There are some important things to keep in mind when dealing with the realty market.


Keep yourself informed about everything

As a property manager, it is your responsibility to educate yourself on the various laws and regulations that your property is subject to. You will also need to keep yourself up to date with any changes in property legislation that may affect your own property. Identify and update all the legal documentation required to prove ownership and sell your property.

Other things to keep in mind

Create systems and procedures for maintenance so that you can measure progress effectively and quickly identify deficiencies and faults in your property.

Be honest to your clients and give them a full history of the property when trying to sell. Your reputation in the market may depend on this.

Create a routine and stick to it. This not only ensures that you use your time in the best way, but will ensure that all tasks will eventually become like muscle memory.

Keep a proper track of all documentation, even if it extremely unimportant. It is often difficult to anticipate when a document may be required and for what.

Setting Guest Guidelines for Rental Properties

Rules involving guest registration must be strict around your property. Tenants must be requested to register their guests with you. As a property manager, you will have to decide whether you want the registration to be strict with long-term visitors only, or if overnight guests also require to be registered. In either case, the criteria must be mentioned in the lease so that it is transparent and your tenants will know what to do when they have visitors.


Limited Visits

Your tenants obviously have the right to engage visitors. While some guests stay for a short while, other may stay for long. Since you can’t really tell how long a particular visit may last, setting a limit on guest visits can help you control potential situations effectively. Mention the number of days that a visitor is allowed in your property in the lease agreement so that there are no problems in the future.


Shared Responsibility

You must inform your tenants that they bear responsibility for the actions of their guests. Any damage to your property caused by the guests will have to be attended to by the tenant. Even the smallest of problems have the potential to escalate, and if the guests leave before you have detected the problems created by them, you will be left with no choice but to fix it yourself. So keeping your tenant aware of small matters will help you effectively manage your property and all amenities within it.

Top 5 iPhone and iPad Apps for Property Managers

With the increasing competition in the real estate market as well as the ever-escalating prices in NYC, it is important to stay on top of the changing trends. One easy way to keep abreast with the latest developments as a property manager is to use to the right apps. If you are using an iPhone or iPad to carry out everyday tasks for work, installing a few free apps can go a long way in ensuring that you stay ahead of the curve.


Free real estate apps for your Apple device

One of the most popular apps designed for an iPad or iPhone is called Homesnap Real Estate. With this app, you can find everything you need to know about a property by clicking a picture. Scan the image through the app you can download the current value as well the price of the last sale. You can also get essential information including number of bathrooms, bedrooms, locality, schools etc.  If you are interested in local real estate, you can try Smarter Agent’s Real Estate app that helps you enhance your search for residential property. It offers information with 40 POIs including local establishments, ATMs, entertainment and restaurants.


Get all necessary information with a single image

Property Capsule is an app designed to create a commercial property portfolio in cities like NYC with a few easy clicks. You can present your commercial portfolio in real time to potential tenants with your Apple device. Cartavi is another simple app that allows real estate professionals and property managers to share and manage essential documents through their iPad, iPhone and iPod Touch. You can also try other Apple apps like MagicPlan, Happy Inspector, and Ten Eight 2.0

How Landlords Should Handle a Natural Disaster

Oftentimes, natural disasters uproot ongoing lives in cities and raise havoc in heavily populated areas. Whether you have recently experienced a flood, tsunami, earthquake, landslide, or hurricane there are many steps landlords and tenants can take to handle the damage. Here is what you should know about handling property damage caused by natural disasters.

Common Scenarios Between Tenants and Landlords

After experiencing a natural disaster with varying effects and damage on property, four general scenarios may arise between tenants and landlords. The first scenario includes both parties wishing to cancel the agreement for rental occupation. The second scenario involves the landlord wishing the tenants to vacate the property but the latter opposing the move. The third scenario is when both the landlord and tenant wish to stay in the property and the fourth includes the landlords wishing the tenant to continue occupying the property but the latter wishing otherwise.

How Should Landlords Approach Tenants? 

If both the landlord and tenant are in agreement, the contracts and repair services are relatively simple. Mutual agreements between the tenant and landlord, whether choosing to stay or move out, should be solidified with a written contract. However, if the landlord wants the tenant to relocate, they must provide them with a 30-day notice. They can also provide a 60-day no cause notice if the tenants have occupied the property for over a year. It is important to note that landlords cannot charge their tenants for any damage caused by the natural disaster. However, they can charge for expenses of damage that are not related to the natural disaster.

Online Rental Scams: How Can Landlords Avoid Them?

How to Protect the Best Interests of Your Property

People who are looking to let their properties for rent are becoming increasingly aware of the scams taking place. As a result, a cautious approach is adopted when picking renters. Unfortunately, property owners cannot tell whether or not their rental properties are used in scams. However, the following few tips can help you make your property highly credible to a large pool of prospective tenants.


Scanning Craigslist

An increasing number of people are turning to Craigslist when they look for rentals. Scam artists also use the website to find rental space. Scanning the rentals in your area on Craigslist every now and then can help in ensuring that your properties are not appropriated by scam landlords.


Online Advertising

When putting up a property for rent, property management must be done effectively on the internet. Not only will you have to write an effective description of the rental property, but linking it to a created site will make potential renters view your property in high regard. Since scam artists usually deal in bulk, they won’t have time to create professional webpages, thus putting you ahead on potential suitors’ list.



The property for rent must have a sign that lists the phone number of the landlord. It would help in attracting more suitors if you link your property with a professional property management firm as renters tend to find it easier to conduct business with a company than individual landlords. Advertising the number will help you find tenants quickly.

Five Keys for Tenant Screening

Inform the Applicants about Tenant Screening

Before starting off with tenant screening, it is important to inform applicants that screening is compulsory. Just learning that there is a screening process is sure to eliminate potentially bad tenants, thus saving you valuable time.

Screen Consistently

A comprehensive and systematic tenant screening process for all your potential tenants will protect you in case an applicant makes claims that you have made violations against the Fair Housing Act.

Deciding Minimum Qualification

As the owner of a property in NYC, you are expected to pick a tenant who will give you no trouble with regards to payment of rent or other issues. Decide whether you want tenants who have criminal records, or if such applicants must refrain from applying regardless of how long back they were arrested for whatever reason. Think in detail what kind of tenant you would like before starting with the screenings.

Credit Checks

Once your applicants have met your prior requirements, run a credit check to ensure that they will be able to meet rent and bill payments on time. Get the report directly from the applicant’s credit reported to make sure that there are no shenanigans.


Check References

Calling the present or past landlords of an individual will help you determine whether or not an applicant is worthy of your space. Personal and employment references will help you know more about the person, thus enabling you to make an informed decision regarding the outlet of your rental space.