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Property Management Blog

Want to sell your property? Use a 1031 Exchange

Did you know that if you own a property that is not your primary residence, you are actually classified by the IRS as somewhat of an investor? This makes selling your property just a bit tricky, especially when it comes to the taxes which come along with it. In such cases, a large portion of your profit from the sale of the property is owned to the IRS, and is called a capital gains tax. Because of this capital gains tax, property owners are left with less profit when it comes time to sale their property.  Read More...


PMI Blog » Property Management Inc. Named to Entrepreneur Magazine's Best of the Best Franchises List

LEHI, Utah, May 5, 2017 /PRNewswire/ -- Property Management Inc.(PMI) was recently included in Entrepreneur magazine's Best of the Best Franchises list, which recognizes the 105 companies that ranked at the top of their industry categories in Entrepreneur's 2017 Franchise 500® ranking. Read More...


Vacation Home Property Management

Vacation rentals are steadily rising in popularity as vacationers are drawn to a more relaxed home setting in a local atmosphere as a cost effective alternative to a single hotel room in a bustling tourist district. The market is swarmed with up and coming vacation rentals and it can be difficult to find a rental that is what it claims to be online, there are many horror stories of nightmare stays and unreasonable homeowners. Luckily there have been enough positive experiences for both homeowners and tenants to keep the bad apples from deterring this booming market. Read More...


Why Use a Property Manager

Purchasing rental property in NM is a smart investment and can be a significant source of residual income for property owners. However, property management can be an enormous undertaking that requires a great deal of time and effort.

Property management involves the process of finding and vetting quality renters, keeping properties occupied, setting and collecting rent, maintaining property and (sometimes the most challenging) keeping renters happy. If you don't have the time to devote each month to property maintenance or the skill set and recourses to find and retain high quality tenants but still have the desire to invest in income property, consider hiring a qualified property manager with PMI. Read More...


Dealing With Bed Bugs

Let’s talk about the most irksome problem for property managers and renters to deal with, bedbugs. Bedbugs are most prevalent in apartment and condominium buildings which means that property managers need to familiarize themselves with how to navigate this issue. Read More...


Increasing Curb Appeal

Increase the value of your rental property by making some aesthetic changes and following a few simple tips.

Check for concrete damage and consider making repairs. There are emerging low cost options, such as concrete lifting, to fix cracks and sunken concrete slabs as opposed to total concrete replacement. These small repairs do not break the bank and can add immense value to your rental property and will ensure that your property is up to code and will pass inspections.  Read More...


2017 Property Management Outlook

What trends does 2017 bring for landlords? Rental rates are rising and vacancy rates are low. This is great news for landlords, higher market rental rates will bring a higher return on investments which can then be used to upgrade properties, or reinvest. Lower vacancy rates will reduce the turnaround time to fill a property between tenants.  Read More...


Breaking the Lease

Most tenants sign a lease for a year at a time. This ensures that for that year, a steady income can be counted on and decisions for either finding new tenants or continuing a lease can be thought out and planned on. This helps landlords rest easy in tenant stability for the most part. However, there are some circumstances in which a landlord should agree to release a tenant from the lease agreement without penalties.  Read More...


How to Manage Security Deposits

Property managers should always require a refundable security deposit in residential property management properties. This deposit should be kept in a separate account for trust or escrow funds and will be returned to the tenant in part or in full once the tenant has moved out. Security deposits are often the most hostile subject between property managers and tenants and property managers can take steps to prevent security deposit disputes, educate tenants and ensure that security deposits are used correctly and not abused. Taking these steps will also protect property managers against potential legal action.  Read More...


Winterizing Your Rental Properties

During these cold winter months it is important for property managers to winterize rental properties. Taking these simple steps will help prevent common weather related damages to rental properties. Spending money on preventative measures will always pay off when major costly damages are avoided.  Read More...