PROPERTY RECORDS AND MANAGEMENT

THE IMPORTANCE OF SYSTEMS

 Accurate and adequate files of information will help you be a more successful property
manager
 Having a system is essential for record-keeping, but is also required by state and federal
reporting purposes in reference to taxes and compliance to other laws.
 Larger properties with more tenants benefit from property management software system.
 Property managers with one or two clients may be able to create manual processes that
meet the needs of the business.
 For most property managers, the system will be a mix of manual and automated systems.
However, moving as many processes to an online system provides many benefits.
 Online/software PMS will help you to:

1. Streamline Processes
2. Be more efficient
3. Integrate information
4. Become more organized
5. Make fewer errors
6. Decrease paper-based information
7. Access information on the go, wherever you are

 Some disdvantages of online PMS are:

1. Purchasing the system and converting information to electronic

format is costly
2. If you have fewer than 3 properties/tenants, it would be
counterproductive to invest in a PMS.

HOUSING CODES
 Housing codes are govt. ordinances and regulations that list the minimum standards that a property
must meet for a specific state/city.
 A property manager makes sure that the properties are not in violation.
 These requirements are different for each state and city.
 Examples of housing code elements may include the following:

 Requirement of property inspection

 Number of people that can live in a dwelling
 Length of grass on a property
 Presence and number of smoke detectors
 Subletting of property
 Number of exits in the property
 Lead testing for older homes
 Lighting of parking areas and pathways
 Appropriate ground-fault interruptor plugs
 Safe means of egress
 Handrails on stairways
  Updated electrical panel
 Plumbing concerns
 Sturdy foundation
 Highly visible street number
 Operable door locks
 Minimum ceiling heights
 Well-ventilated bathrooms and laundry rooms

MAINTAINING CURB APPEAL

 Curb appeal refers to how good a property looks to someone viewing it from the curb or street
 It is an important part of property management, however some people neglect it because of the
associated costs.
 If a property does not look good to current or future tenants, the it will be hard to find people to rent
it.
 To create a great curb appeal:
 Paint, brick or siding is clean/fresh
 Front door is colourful and clean
 Outdoor area is well lit
 Front area has flowers, plants, shrubs that provide pops of colour
 Walkway is clear of overhanging branches/overgrown plants
 Accents like shutters are clean and freshly painted
 Porch or landing is clean and welcoming with potted plants, benches, welcome
mats.
 Dumpsters or garbage containers are clean, well maintained and are kept clear of
random debris or are hidden in an inconspicuous plaace

MAINTENANCE MISTAKES
Avoid these common maintanence mistakes:

 Delaying inspections and maintenance

 Allowing tenants to perform their own maintenance
 Hiring different contractors every time
 Hiring unskilled workers to perform important maintenance tasks

GREEN PROPERTY MANAGEMENT

 Some tenants will intentionally look for properties with green practices and may allow you to charge
more because of them.
 If you use green practices, make sure you advertise. You can go green by :

 Using eco-conscious pest control

 Implementing recycling programs on your properties
 Installing light savers such as motion lighting and eco-friendly bulbs
 Using eco-friendly cleaning products and carpet cleaners

 Some benefits of a green property are:

 Tax incentives
 Lower utility and water bills
  Increased property value
 Improved air quality
 Less maintenance
 Decreased Trash and waste

TAX BENEFITS OF A GREEN PROPERTY

The Energy Policy Act of 2005 offers federal tax incentives through the Environmental Protection
Agency (EPA). The government’s Energy Star program also offers funding for green initiatives. The
U.S. Green Building Council (USGBC) has a mission to “transform the way we design, build, maintain,
and operate our buildings, homes, and communities.” The USGBC has implemented a program called
LEED, or Leadership in Energy & Environmental Design. It’s a green certification program that
“recognizes best-inclass building strategies and practices.” Buildings and properties that meet these
green standards can achieve different levels of certification. There may be state and local incentives
in your area through the USGBC, so be sure to check with your local government.