Category: Blog

Ownership Changes – This process now contains a section in the pop up to add in a ledger comment as written by you to both the old and new owner as required. This means the ledger comment can contain individualised information per owner. Simply press on the ‘+ Add Ledger Comment’ and the note will appear on the ledger once processed. 

A rent roll is the total number of properties that you manage for rental income. The more properties you have on your rent roll, the more income you generate. But how do you grow your rent roll? Here are 40 ways to help you increase your rent roll and grow your property management business.

1. Network with other real estate agents: Building relationships with other real estate agents in your area can help you generate more leads and referrals. Attend local events and join professional organisations to connect with other agents.

2. Attend networking events: Attend networking events and seminars to meet new people and make connections. This can help you build your reputation and expand your network.

3. Offer a referral fee to other agents who refer clients to you: Offering a referral fee can motivate other agents to recommend your services to their clients. Make sure to set a reasonable fee that is within your budget.

4. Host open houses to attract new clients: Hosting open houses can help you showcase your properties to potential clients. Use this opportunity to build relationships with attendees and collect their contact information.

5. Advertise your services on social media platforms: Social media is a powerful tool for promoting your services and connecting with potential clients. Use platforms like Facebook, Instagram, and LinkedIn to reach your target audience.

6. Create a website to showcase your services: A professional website can help you showcase your services and build your credibility. Make sure your website is optimised for search engines and easy to navigate.

7. Offer incentives to existing clients for referring new business: Offering incentives to existing clients can encourage them to recommend your services to their friends and family. Consider offering discounts on management fees or other rewards.

8. Attend landlord-tenant association meetings: Attend meetings of landlord-tenant associations to stay up-to-date on industry trends and connect with other professionals.

9. Offer a free rental appraisal to potential clients: Offering a free rental appraisal can help you attract new clients and demonstrate your expertise.

10. Join local business associations: Joining local business associations can help you build relationships with other professionals in your community and generate new leads.

11. Offer a discount to clients who sign up for long-term property management contracts: Offering discounts on management fees for long-term contracts can help you attract clients who are looking for a reliable, long-term partnership.

12. Attend property investment seminars: Attend seminars on property investment to learn about the latest trends and connect with potential clients.

13. Attend industry conferences: Attend industry conferences to network with other professionals and stay up-to-date on industry trends.

14. Offer a free rental guide to potential clients: Offering a free rental guide can help you attract new clients and demonstrate your expertise.

15. Host property investment seminars: Hosting property investment seminars can help you establish yourself as an expert in the industry and attract new clients.

16. Create partnerships with property investors: Creating partnerships with property investors can help you generate new leads and build your reputation.

17. Offer a tenant loyalty program: Offering a tenant loyalty program can help you retain tenants and reduce turnover.

18. Advertise your services in local newspapers and magazines: Advertising in local newspapers and magazines can help you reach a wider audience and generate new leads.

19. Offer a free property inspection to potential clients: Offering a free property inspection can help you attract new clients and demonstrate your expertise.

20. Create a referral program for existing clients: Creating a referral program can encourage existing clients to recommend your services to their friends and family.

21. Attend real estate auctions: Attending real estate auctions can help you connect with potential clients who are looking to buy or sell properties.

22. Advertise your services on property websites: Advertising on property websites can help you reach a wider audience and generate new leads.

23. Develop a marketing strategy: Developing a marketing strategy can help you focus your efforts and reach your target audience more effectively.

24. Offer a discount on management fees for properties with multiple units: Offering discounts on management fees for properties with multiple units can help you attract clients who own multiple properties.

25. Advertise your services on real estate listing websites: Advertising on real estate listing websites can help you reach

26. Offer a rent guarantee program: Offering a rent guarantee program can help you attract new clients by providing them with peace of mind knowing that they will receive a guaranteed rental income.

27. Develop a referral network with local businesses: Developing a referral network with local businesses can help you generate new leads and referrals. Consider partnering with local moving companies, cleaning services, and contractors to offer bundled services.

28. Use targeted online advertising: Using targeted online advertising can help you reach your ideal audience and generate new leads. Consider using platforms like Google Ads or Facebook Ads to promote your services.

29. Offer a tenant placement service: Offering a tenant placement service can help you attract new clients who are looking for a hands-off approach to property management.

30. Conduct regular market research: Conducting regular market research can help you stay up-to-date on industry trends and adjust your strategies accordingly.

31. Use email marketing to stay in touch with clients: Using email marketing can help you stay in touch with existing clients and nurture relationships over time.

32. Create a blog to showcase your expertise: Creating a blog can help you establish yourself as an expert in the industry and attract new clients.

33. Offer a rent-to-own program: Offering a rent-to-own program can help you attract new clients who are looking for a path to homeownership.

34. Implement a tenant screening process: Implementing a tenant screening process can help you attract higher-quality tenants and reduce your risk of property damage and unpaid rent.

35. Offer property maintenance services: Offering property maintenance services can help you generate additional revenue and provide added value to your clients.

36. Partner with local schools and universities: Partnering with local schools and universities can help you attract student renters and generate new leads.

37. Use video marketing to showcase your properties: Using video marketing can help you showcase your properties in a more engaging and dynamic way.

38. Offer a pet-friendly program: Offering a pet-friendly program can help you attract new clients who own pets and reduce your risk of vacancy.

39. Implement a rent increase strategy: Implementing a rent increase strategy can help you maximise your rental income over time.

40. Use data analytics to optimize your operations: Using data analytics can help you identify areas for improvement and optimise your operations to maximise efficiency and profitability.

In this blog, we will explore some valuable tips to help property managers navigate the new financial year successfully.

Conduct a Comprehensive Property Audit:

At the start of the financial year, perform a thorough audit of each property you manage. Assess the condition of the property, identify any maintenance or repair needs, and ensure compliance with relevant regulations. This evaluation will help you create a maintenance plan and budget, ensuring the properties are well-maintained throughout the year.

Review and Adjust Rental Rates:

Evaluate the rental market in your area and review the current rental rates. Consider factors such as location, property condition, and market demand to determine if an adjustment in rental rates is necessary. Make sure your rental rates are competitive and in line with the market trends to attract quality tenants and maximise rental income.

Enhance Tenant Communication:

Maintaining strong communication with tenants is crucial for a successful property management business. Use the new financial year as an opportunity to improve your tenant communication strategy. Implement efficient channels such as online portals, email updates, or newsletters to keep tenants informed about property-related matters, policy changes, and upcoming events.

Streamline Rent Collection:

To ensure a smooth cash flow throughout the financial year, consider implementing an automated rent collection system. Online payment platforms or direct debit options make it easier for tenants to pay rent promptly while minimising administrative tasks for property managers. Efficient rent collection processes contribute to better financial management and reduce the risk of late or missed payments.

Review and Update Lease Agreements:

Review your lease agreements to ensure they comply with current legal regulations and industry standards. Incorporate any necessary updates or changes to protect the interests of both property owners and tenants. Clear and comprehensive lease agreements reduce the likelihood of disputes and help maintain positive landlord-tenant relationships.

Enhance Property Marketing:

Take advantage of the new financial year to review and enhance your property marketing strategies. Optimise property listings on various platforms, update property descriptions, and use high-quality photographs to attract prospective tenants. Consider utilising social media platforms, online advertisements, and targeted marketing campaigns to expand your reach and increase property visibility.

Strengthen Vendor Relationships:

Developing strong relationships with reliable vendors, contractors, and service providers is vital for efficient property management. Review your existing vendor relationships and seek opportunities to build new partnerships or negotiate better contracts. Reliable and responsive vendors contribute to timely property maintenance, cost efficiency, and overall tenant satisfaction.

Embrace Technology:

Harness the cutting-edge capabilities of OurProperty software to revolutionise your property management processes. By integrating this advanced technology into your operations, you can streamline tasks such as maintenance requests, accounting, and tenant screening. Embracing OurProperty software not only saves valuable time and resources but also elevates the accuracy of your data management, leading to more efficient and effective property management. Experience the transformative impact of technology with OurProperty and propel your business to new heights.

The new financial year presents property managers with a chance to reassess their strategies and improve your operations. By implementing these tips, property managers can navigate the challenges of the new financial year while providing excellent service to property owners and tenants alike.

In this blog post, we will explore how OurProperty’s robust reporting and analytics tools can unlock growth potential for property managers and agency owners.

1. Streamlining Data Collection and Analysis:

Gone are the days of sifting through endless spreadsheets and paperwork. OurProperty simplifies data collection by automating various processes, such as rent payments, maintenance requests, and lease renewals.

With all your property-related information centralised in one platform, you can easily generate reports and gain actionable insights.

2. Real-Time Reporting:

OurProperty provides real-time reporting capabilities, allowing property managers to access up-to-date information at their fingertips. Whether you need to analyse rent arrears, track maintenance requests, or monitor property vacancies, the software offers customisable reports that cater to your specific needs.

This empowers you to make timely, data-driven decisions that can enhance efficiency and drive profitability.

3. Customisable Dashboards:

OurProperty’s customisable dashboards enable property managers and agency owners to create personalised views of their key performance indicators (KPIs) and metrics. Whether you prefer visual charts, graphs, or tables, you can configure the dashboard to display the most relevant information.

This feature provides an at-a-glance overview of your property portfolio’s performance, enabling you to identify trends, spot areas for improvement, and capitalise on opportunities.

4. Financial Insights:

Managing financial aspects is a critical aspect of property management. OurProperty’s reporting and analytics tools offer detailed financial insights, including rent roll analysis, income and expense tracking, and financial forecasting.

By leveraging these features, you can gain a deep understanding of your financial position, identify areas of revenue growth, and optimise your cash flow management.

5. Tenant and Lease Analysis:

Understanding your tenants and lease agreements is crucial for maintaining a healthy rental portfolio. OurProperty’s reporting capabilities allow property managers to track tenant profiles, lease expiration dates, and rental income trends. Armed with this information, you can proactively manage lease renewals, identify high-performing tenants, and minimise tenant turnover.

Additionally, you can identify potential issues, such as late payment patterns, and take proactive steps to address them before they escalate.

6. Performance Benchmarking:

Comparing your property’s performance against industry benchmarks is key to staying competitive. OurProperty’s reporting tools enable you to benchmark your property’s financial and operational performance against similar properties in your area.

This information provides valuable insights into how well your property is performing compared to the market average, allowing you to identify areas for improvement and develop strategies to outperform competitors.

7. Portfolio Analysis and Growth Strategies:

OurProperty’s reporting and analytics tools facilitate in-depth portfolio analysis, empowering property managers and agency owners to make strategic decisions regarding property acquisition, expansion, or divestment.

By analysing property performance metrics, vacancy rates, and market trends, you can identify underperforming properties, assess investment opportunities, and align your portfolio with your growth objectives.

OurProperty’s reporting and analytics tools offer property managers and agency owners a powerful advantage in the highly competitive property management industry. By leveraging real-time data, customisable reporting, and detailed insights, you can streamline your operations, make informed decisions, and unlock your property portfolio’s growth potential.

Whether it’s optimising financial performance, enhancing tenant relationships, or identifying market trends, OurProperty equips you with the tools you need to thrive in the dynamic world of property management.

As a property manager, you have a lot on your plate. You’re responsible for ensuring that your properties are well-maintained, that your tenants are happy, and that your finances are in order. It can be a daunting task, but using property management software like ours can help you be a more effective property manager. 

Here are some tips to help you get the most out of your property management software and be a more effective property manager.

Use automation to your advantage

One of the biggest benefits of property management software is that it allows you to automate various tasks. This can save you a lot of time and effort and help you be more productive. Make sure you’re taking advantage of all the automation features in your software. This might include automatic rent collection, automated lease renewals, and automatic maintenance requests.

Stay organised

Good organisation is key to being an effective property manager. Use your property management software to keep all your property information in one place, including lease agreements, tenant information, and maintenance requests. Make sure you’re using the software’s organisation features to stay on top of everything, such as setting reminders for lease renewals and maintenance tasks.

Communicate effectively with tenants

Effective communication is essential for building strong relationships with your tenants. Use your property management software to communicate with tenants, whether it’s sending out newsletters or responding to maintenance requests. Make sure you’re using the software’s communication features to keep tenants informed and engaged.

Monitor finances closely

Managing finances is a big part of being a property manager, and property management software can help you stay on top of your finances. Use the software to track rent payments, expenses, and other financial transactions. Make sure you’re using the software’s reporting features to generate financial reports and stay up-to-date on your finances.

Take advantage of training and support

Many property management software providers offer training and support to help you get the most out of your software. Take advantage of these resources to learn how to use the software effectively and troubleshoot any issues you may encounter.

Using property management software can help you be a more effective property manager. By taking advantage of automation, staying organised, communicating effectively with tenants, monitoring finances closely, and taking advantage of training and support, you can use our software to manage your properties more efficiently and effectively. By doing so, you can ensure that your properties are well-maintained, your tenants are happy, and your finances are in order.

When it comes to property management, risk management is an essential aspect of ensuring success. Property managers need to take steps to minimise risks associated with property management, including legal liabilities, financial risks, and operational risks. This is where OurProperty, the best property management software in the market, can help. Here’s why:

Document Management

OurProperty allows property managers to store and organise important documents, including leases, contracts, and tenant applications. This reduces the risk of losing important paperwork, ensuring that all relevant information is readily accessible in case of legal disputes.

Maintenance Management

OurProperty enables property managers to track maintenance requests, work orders, and inspections. This helps ensure that properties are regularly maintained, reducing the risk of accidents, injuries, or equipment failure that could lead to legal liabilities.

Tenant Screening

OurProperty includes tenant screening tools that help property managers evaluate potential tenants based on their rental history, credit score, and criminal background. This helps reduce the risk of renting to tenants who may be prone to late payments or property damage.

Accounting and Financial Management

OurProperty allows property managers to easily track income and expenses, generate financial reports, and automate rent collection. This helps reduce the risk of financial errors, ensuring that property managers are accurately tracking their finances and making informed decisions.

Compliance and Regulation Management

OurProperty includes tools to help property managers stay up-to-date with local laws and regulations. This reduces the risk of legal penalties or fines, ensuring that property managers are compliant with all relevant regulations.

Customisable Alerts and Reminders

OurProperty allows property managers to set up customizable alerts and reminders, ensuring that important tasks are not forgotten or overlooked. This helps reduce the risk of missed deadlines, overlooked tasks, or neglected properties.

OurProperty is the best property management software in the market for minimising risk. With its document management, maintenance management, tenant screening, accounting and financial management, compliance and regulation management, and customisable alerts and reminders, property managers can reduce the risk of legal liabilities, financial risks, and operational risks. 

If you’re looking for a property management software that can help you minimise risk, OurProperty is the way to go. Book your personalised demo today!

Managing rental properties can be a challenging and time-consuming task. Property managers are responsible for a wide range of tasks, from finding and screening tenants to handling maintenance and repair issues. It can be a lot to handle, especially for property managers who have to juggle multiple properties at once. That’s where OurProperty comes in. OurProperty is a property management software that helps property managers streamline their operations and stay on top of their tasks. 

In this blog, we’ll explore why property managers need OurProperty and how it can help them be more efficient and effective.

Efficient Communication

One of the most significant challenges that property managers face is communication. Keeping track of all communication with tenants, vendors, and other stakeholders can be a daunting task. With OurProperty, property managers can easily communicate with tenants and vendors through the software’s messaging platform. This streamlines the communication process and ensures that important messages don’t get lost in the shuffle. Plus, with OurProperty, all communication is stored in one central location, making it easy to keep track of.

Easy Rent Collection

Rent collection is a critical aspect of property management, but it can be time-consuming and tedious. OurProperty makes rent collection easy and efficient. With the software, property managers can set up automated rent collection, so they don’t have to spend time chasing down late payments. Tenants can pay their rent online, and the funds are automatically deposited into the property manager’s account. This eliminates the need for manual rent collection and reduces the risk of errors.

Streamlined Maintenance and Repair

Maintenance and repair requests are a part of property management, and OurProperty helps property managers stay on top of these tasks. The software allows tenants to submit maintenance requests online, which are then routed to the appropriate vendor. Property managers can track the status of maintenance and repair requests in real-time, so they always know what’s going on. OurProperty also integrates with popular property maintenance apps, making it easy to manage maintenance tasks from one central location.

Simplified Accounting

Accounting can be a headache for property managers, but OurProperty makes it easy. The software integrates with popular accounting software, such as QuickBooks & XERO, making it easy to manage finances0.. Property managers can track income and expenses, generate financial reports, and even pay bills directly through the software. This simplifies the accounting process and saves property managers time.

Centralised Document Management

Keeping track of lease agreements, vendor contracts, and other important documents can be a challenge. OurProperty helps property managers stay organised with a centralised document management system. All important documents can be uploaded to the software, making it easy to access them when needed. This eliminates the need for manual document management and reduces the risk of losing important documents.

OurProperty is an essential tool for property managers who want to streamline their operations and stay on top of their tasks. With features like efficient communication, easy rent collection, streamlined maintenance and repair, simplified accounting, and centralised document management, property managers can save time and be more effective. 

If you’re a property manager, consider giving OurProperty a try and see how it can help you improve your operations.

We have released two (2) new reports into the menu to assist with financial tracking and understanding, and new business management.

Detailed Fees Statement – This new report expands the existing fees statement report to provide a detailed overview on fee income for your agency. See the property address, fee amount, date paid and associated company profile for every fee type collected. The report can also be exported to a CSV file for internal business use, and includes the search options ‘Date Range’, ‘Keyword’, ‘Company Profile’, and ‘Property Manager’ for specific filtering as required. Find this under Reports > Financial > Detailed Fees Transaction Report

A new action has been added to the drop-down menu on submitted applications labelled ‘Processing’. When selected, an email will send to the applicants to advise their application has been received and is being processed by the agency. You can find and edit the email template in your agency settings > Lettings tab > Email Settings Tab > Processing Application Notification to Tenant.  

Tenancy Wallet

For those tenants who pay rent and invoices via the OurProperty Tenancy Wallet, we have introduced 2 new wallet options to better suit different tenancy types. These new options are:

• Tenancy Wallet – Long Term: suitable for long-term renters who may struggle to pay on time however the agency and owners are comfortable with their situation.
• Tenancy Wallet – Charity: suitable for institutions who want all funds they pay to be allocated to rent or invoices.

Each new wallet type has it’s own fee structure made relevant to those who will suit these options. The new wallet types can only be set up by payments responsible property managers and cannot be selected by tenants when choosing to pay via the wallet. To learn more on these tenancy wallet types and how your agency can set these up for tenants, please refer to this article.

OurProperty has also made improvements to the direct debit workflow for the Tenancy Wallet payment method. A detailed article has been added to the knowledge base for you to review how the processes will occur when there are both sufficient funds and insufficient funds, and what occurs when the tenants fall into arrears – You can access this article here to learn more.