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Beyond Rent Collection - The Evolving Face of Property Management Charlotte NC

Rent sign

The role and responsibilities of property management Charlotte NC has evolved much beyond mere rent collection and paying bills. A property manager now develops marketing plans for the property, arranges insurance, plans and collects bids for renovations, provides tax information, improves landscaping, oversees security of the property, ensures compliance to government regulations, coordinates maintenance, and hires, motivates and manages staff.

For accomplishing these multifaceted tasks, the property manager has to evaluate and react to varying events and market conditions, be up to date with latest technological developments in the field, improve relationships with tenants, and find new ways to improve profitability of the property.

Branding Strategies

Property management Charlotte NC is now a specialized service tackling various issues, as insurance requirements, lender regulations, government legislation, taxation and accounting issues, and environmental concerns become more specific and complex. This has resulted in a consolidated marketplace that depends on branding for developing unique image based on specialized management services.

Property managers are crucial for not only developing the brand identity, but also for managing and maintaining it. One of the best ways of surviving during an economic downturn is a clever branding strategy. A positive image of the brand goes a long way in retaining existing tenants and getting new ones quickly and easily.

Since maintaining strong tenant relationships is the key to a branding strategy, property managers should focus on resolution of tenant problems quickly and efficiently. There should also be an efficient system in place that informs tenants how their complaints are being handled and when a resolution can be expected. This will dramatically reduce tenant dissatisfaction and complaints can be resolved amicably without resorting to outside mediation or litigation.

Efficient Web Portal

For providing a positive service experience, it is integral for property management Charlotte NC to maintain an efficient web portal. Such a portal can provide multiple solutions from convenient rent collection to placing of work orders. Maintaining an online help desk for answering queries of tenants and receiving their complaints can greatly improve relations. The website can also be used for implementing work orders, and dispatching company’s or third party service personnel to resolve the maintenance issues. This not only improves management of various operations but also eliminates the need of on-site presence of the supervisor or manager.

Changing Role of Property Management in Leasing Market

Property management Charlotte NC has a bigger role to play in understanding the leasing market locally. There has been an increase in the lead-time of leasing, due to complex government regulations on renovation and construction, and rise in leasing rates. Property managers now have to work closely with leasing personnel and clients for anticipating the requirements of tenants and implement the necessary changes in infrastructure and other areas before the lease is finalized. Fortunately, property management companies now have access to server platforms that can connect with company networks for running applications through a proprietary client or a web browser.

Property management Charlotte NC has to look much beyond rent to stay ahead in the game, and identify new strategies for adding value to properties and building a positive brand image.   

Strategies a Gastonia Property Manager can Use to Build a Facebook Audience

audience facebook

Leveraging Facebook for building reputation of the property and for getting new tenants is a magnificent strategy for Gastonia property manager. However, for any strategy to work, first you need to build a large audience on Facebook. Here are certain ideas that can help a property manager in this aspect.

Capture Attention

The Fan Page is usually visited only once by most people, as interactions, such as Comments and Likes will be mainly taking place from their respective News Feeds. Therefore, it becomes very important to capture attention of people immediately, by creating salient content. There should be reason for people to “fan” the page, even if they are not going to read the entire Wall. The page should not only represent the community, but also should be unique.

For improving the connection with fans, the presence of a human element is outstanding, especially by focusing on profile pictures or Avatars, and bios. For instance, it would be much better for Gastonia property management to have the faces of their tenants and staff, rather than community logos and property signs.

Optimal Number of Updates

For the best engagement, you should be posting one or two updates in a day. It is not a cleaver or shrewd idea to post more than two status updates, since that would make the Wall crowded. It is quite similar to displaying numerous pictures in a room instead of a few important ones. It is also important to know the differences between a status update and link. When you have included a hyperlink, and you see a thumbnail image below your update, then it is a link. Such links are usually not included in News Feeds compared to status updates. If your strategy is to reach your audience rather than displaying a thumbnail image, then click or the X under the status bar before you submit your update.

Do not Lecture, but Communicate

When you make announcements or statements, people tend to listen, but they will not engage. When you are looking for responses, talk with your audience rather than lecturing or announcing to them. Including simple questions in your communication is not a bad idea, since that will invoke a response. You care about their opinion and reading what they have to say.

Make Maximum Use of Tags

Tagging a photo or video will let everybody connected with that individual view the content within his or her own Feed. For instance, when Bob tags the Fan page of Gastonia Property, everybody connected to Bob will be able to see this photo in their feed. Word of mouth marketing cannot get better than this. However, tagging is disabled while linking Flickr or YouTube for automatically updating the Fan Page.

Set Clear Objectives

Gastonia property manager needs to create a schedule for use of Facebook, and for doing this, setting clear objectives would be the first step. Start with reasonable objectives such as gathering about ten new fans in a month and getting about five comments or Likes. This will provide you with an idea on how much time is needed to achieve these objectives and for setting a schedule accordingly.

Some Clear Advantages to Hiring a Property Management Charlotte NC Company

Advantages to hiring proporty management in Charlotte


Property management Charlotte NC company would be an excellent option for property investors and owners who are unable to manage their properties. Such a company will be able to do the task professionally, manage costs effectively, and improve revenues. Here are certain distinct advantages in hiring a professional company to manage your property.

Quality of Tenants

Bad tenants can be a big drain on revenues, and therefore a marvelous screening process is necessary to ensure standout tenants. It is quite easy to appeal to any type of tenants, but very difficult to evict the bad ones. They could seek retaliation. This is why you must have certain standards from the beginning.

A property management Charlotte NC company will have a tested screening process, which will ensure tenants that pay rent on time, rent the unit longer, and do not cause any damage to the unit. Implementation of a marvelous and sensible screening process will shield you from rental fraud, discrimination lawsuits, problematic evictions, and a host of other problems that you do not want to become mired into.

Decrease in Vacancy Rate

One of the most important tasks of property management Charlotte NC would be to keep the vacancy rate to the minimum, and to maximize revenue. In order to achieve this objective, a professional company will have a three-pronged approach:

1.    Determining the Optimum Rent Rate: If the rent is too low it will affect the revenue, but if it is too high the vacancy rate will increase, and therefore it is important to determine the optimum rate. This requires professional assessment of the real estate market, access to tools for rating rents, and comparing data of recently occupied units in the area.
2.    Marketing the Property: The property management company will have the experience and expertise of designing effective ads that can gather more prospects in a shorter time. Secondly, since the company has advantage of more ad volume, it can negotiate cheaper rates. Lastly, the company will also know how to close the deal with the most promising prospects.
3.    Preparing the Property: A professional property management Charlotte NC company will be able to prepare the unit for the next tenant on time, and even make certain cosmetic improvements that will add to the appeal.

Tenant Retention

Even if the vacancy rate is minimal a lot of money is lost, when there is frequent change in tenants. Therefore, it is important to keep tenants happy and not give them any reason to move. A stunning and committed property management company will have tested tenant retention strategies, which ensures lengthy stays. Such strategies will include improving relationships with tenants, attending to tenant issues quickly, and delivering optimum maintenance of the property.

Effective Process of Rent Collection

Timely collection of rent and effectively dealing with late payments is the key to success in property investment. Property management Charlotte NC company will fabricate a rent collection system that is not only convenient for tenants but also provides certain incentives for timely payments.

Tax Deductions

Property management Charlotte NC company can help the property owner in claiming deductions wherever possible, and also organize the required documentation and forms for filing such claims. Secondly, the fees charged by the company is itself tax deductible.

 

How Property Management Charlotte NC Fills Vacancies Faster

Property-apartment-management

Even though maintaining existing tenants should be the priority, you should also have a strategy to fill up vacancies faster. Empty apartments are not an attractive aspect to any investor or any land owner. The property management Charlotte NC team has tested certain strategies that have always worked in attracting dozens and dozens of prospective tenants within a very short time.

Curb Appeal

Nothing advertises better than the property itself. Hence, if you want to attract prospective tenants make sure you invest in stellar and well thought out landscaping to enhance the appeal of your property. People walking by the property should be able to remember the distinctive appearance that would create a desire to live in such beautiful surroundings.

Clean and Tidy Interiors

Prospects should not change their opinions after they have entered the property admiring the curb appeal. Hence, property management Charlotte NC lays a lot of stress on keeping the property clean, tidy, and up to date. Everything should be streamlined and the property should be free of clutter. Even if the property is kept clean, the looks can be spoilt easily by having clutter.

Crowded places look ugly, whereas relatively clear spaces look tidy and bright. Similarly, the interiors of each unit have to be kept clean, tidy and neat, especially the kitchen area and bathrooms. All doors, windows, and appliances should be functional and easy to operate.

Correct Pricing

Apart from the looks of the property, prospects are going to consider the rent you are charging. Hence, it becomes vital to price the property correctly, in order to attract attention of prospects. The right pricing is usually a challenging task, but property management Charlotte NC mainly considers three points while arriving at the right rent:

  1. Property Location: Rental values are greatly influenced by the location of the property. If the unit/s is located near business centers and fantastic rated schools then it creates higher demand, which will hike the price.
  2. Property Condition: A well-maintained property that is in bright and sunny condition will attract many prospects. Since this aspect can be controlled by the property manager, focus should be on keeping the premises rent ready.
  3. Researching Competing Properties: Most prospective tenants will be looking for competitive rents in the same area. Hence, it becomes important to research the competition. Property manager Charlotte NC has to determine the market conditions before offering the property for rent. Comparisons should be made of properties offering similar conveniences, amenities, and facilities, within two to three mile radius of your

Even with these parameters, it is not easy to keep changing rentals, as the existing tenants will also demand similar rates if you have decreased the rent according to market conditions.

Have a Strong Online Presence

Most prospective tenants search online for finding suitable residence, and therefore it is imperative to have an adorable or awesome website and be active on the social networking platforms. Property management Charlotte NC invests in hiring the best professionals for creating and maintaining websites that rank high in search engine results. It is also paramount to create sterling content for engaging the community, which will help in gathering new prospects. 

The Importance of Knowing your Facebook Audience in Property Management

Talley Proporties


Facebook is a powerful platform for property management to improve their online presence and publicize the property. However, a poorly designed or badly executed Facebook page can be more damaging than not having a page. Facebook is a social networking site and direct selling techniques or strong pitches, almost always fail. The present generation is quite distrustful of direct advertising, and when you are asking such people to “like” a Facebook page filled with sales pitches, you can imagine the response.

The Best Approach

As in any other business, in property management too, the priority should be on building a two-way communication on Facebook. The landing page does not have to be a lengthy description about the property, and its phenomenal and gorgeous features. In fact, hardly anybody cares and nobody bothers to read through or even scan through lengthy descriptive content. Rather having such boring stuff, the better approach would be a call of action.

To succeed in this aspect, it is paramount for property management to know their audience. Unless you can gauge the preferences of your audience, coming up with interesting content can be very difficult. What do people like to hear about, or what information they would consider valuable. Basic questions you should be asking when developing Facebook content.

The Big Picture

If the property consists of apartments, then most people living in apartments would be interested in shopping deals, festivals, special events, and things to do in the area. Additionally, content can also be designed around breaking news stories and trending topics. The main aim is to develop content that is not only interesting but also that generates interaction and engagement amongst your followers.

Know Your Community Members

Direct demographics will also play a major role in developing content. If majority of the community is over 55 years old, the latest rock band or hip hop event may not be of much interest to them. On the other hand, such a community will be quite interested in shopping deals available in the area. Such content is valuable to them, and before you know it, many of them would have started sharing their own information about where they are able to shop for the least prices. Hence, you have not only engaged your audience, but also started to generate interactions amongst them, which can translate into many valuable comments.  

Facebook Analytics

Lastly, it is also important to keep track of the content being liked and the content that is being ignored. Catering to various preferences and developing appropriate content can be quite tricky and you can only learn from your past mistakes and successes. Therefore, Facebook Analytics will play a major role in determining the feedback to the content you are posting.

You need to go beyond the objective of just getting “like” clicks. Your content should also appear and stay on somebody’s news feeds. For tracking this, check the number of clicks on “Hide Feed” on Facebook Analytics. Ultimately, what matters is the thing your audience wants to hear about, and therefore knowing your audience should be the primary objective of property management.

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