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May 15, 2018
By Doug Heath, PMI Social Media Coordinator

“... has left a review on your business page.” Read More...

Why Vacation Rental Owners Need Local Property Managers For Maximum Profits

April 23, 2018
By Billy O’Sullivan, Director of Vacation Rentals

I stayed in my first vacation rental about seventeen years ago when I paid my mailman $100 to stay at his cabin in Big Bear, California for the weekend. This stay gave me the idea to rent out a condo I owned on the Hollywood Sunset Strip, and that was it, I fell in love with vacation rentals. That love has stuck with me for nearly two decades. The vacation rental game has changed considerably since my stay in Big Bear. Businesses have sprouted up all over trying to get a piece of the travel market and entrepreneurs see the huge profits to be had. With all the competition, property owners need to be able to offer guests a vacation experience that rivals what resorts have to offer. With vacation rentals, guests still want an extraordinary vacation experience, but they don’t want to pay more than they would at a hotel. The key to providing this special stay is the human touch only a local vacation rental expert can provide, a property manager with their boots on the ground is required. Read More...

PMI Blue Creek Owner and Former NFL Athlete Thomas Smith Featured on Cash Flow Diary Podcast

Thomas Smith, the owner of PMI Bluecreek (formerly PMI Elite Baltimore), appeared as a featured guest in “From Football to Real Estate,” an episode of the Cash Flow Diary, a resource for new and experienced investors hosted by real estate industry expert, and financial coach J. Massey.  Read More...

Finding Deductions for Residential Rental Property and Lowering your Tax Bill

April 10, 2018 
By Cassie James, PMI Communications Manager

Tax season can be stressful for solo entrepreneurs and landlords. The last thing any investor wants is for an unexpected tax bill to cut profits on their real estate investment. If you own residential property, you are aware that there are a number of unavoidable costs and expenses that go along with the territory. If you want to maximize the return on your investment, it is essential to understand what expenses you can deduct related to your property so that you don’t end up overpaying during tax season. In fact, the opportunities that come with an understanding of tax policies is a big part of why real estate is such a popular investment. The Internal Revenue Service taxes the rent you collect from your residential rental property as business income. As a business income, the expenses of owning a rental property are considered business expenses, and much of the cost of maintaining and managing your rental property can be subtracted from that income, reducing the tax you pay.  Read More...

Lead Management Software: The Powerful Tool Property Managers Need

March 23, 2018
By Jaden Trujillo, PMI Association Coordinator

Excel. Google Sheets. A sticky note on your mirror, nightstand, or desk. These are just a few of the ways that property managers across the nation manage their leads. Sales are key to growing your business, but most property managers struggle with managing their sales leads. We all know that managing leads and general organization is essential to running a successful property management business; however, it seems that we often get caught up in working in our business and not on our business. We all say we are hungry for business, and most of us act like it, but when potential clients inquire via a lead source, and we don’t connect with them quickly, our actions speak louder than our words. Read More...

The Seven Portfolio Multipliers That Every Property Manager Should Master

By Jeremiah Cundiff, PMI Executive Director of Operations

I’ve had conversations with hundreds of property management professionals during my career in the industry, and I’ve noticed a common theme that separates the smaller property management companies, or “Solo Property Managers,” from the property management companies that dominate their markets, “Strategic Property Managers.”  Read More...

3 Tips to Keep Property Management Leads in the Sales Funnel

February 23, 2018
By Ashley Johnson, Writer for Smart Business Hacks

As a property manager, one of the most important tasks you will be faced with is keeping leads in your sales funnel. It may seem daunting at first, but in the end, it all comes down to learning how to balance your time, your focal points, and the needs of both you and your leads. Below we have three tips that will help keep you from losing leads. Read More...

Property Managers Going Without Insurance is Not Worth the Risk

by Kasey Green, Compliance Coordinator

In December 2017, the Rental Protection Agency reported that the increasing growth rate of new renters means about 2,654 individuals are entering the rental market every day. Property Managers are seeing some of the strongest numbers in recent decades with rental households consistently increasing and demand outnumbering supply. With data like this, whether you are just starting out or have been managing properties for years, it’s a great time to be a property manager. However, no matter how stable your situation is, unplanned risks can turn your business upside down. Theft, lawsuits, environmental liabilities, injuries by tenants, and property damage are just a sampling of the hazards property managers can face in their daily operations. Guard against these dangers by getting the right insurance coverage for your risk profile. Read More...

2018 U.S. Rental Housing Market Forecast

January 29, 2018
by Brian Birdy, PMI Vice-President

I enjoy reading the housing market forecasts each year to see what changes might affect my property management business, but I rarely make major business decisions based on these forecasts. By just looking at last year’s forecast it is easy to see how these are indicators of what might occur in the market. The 2017 housing forecast predicted: more inventory, a moderate price growth, an increase in new construction, and rise in mortgage rates. Very little about the housing market went as forecasted in 2017. Instead, we saw inventory tighten, home prices rise, continued low mortgage rates, and the pick-up in construction did not occur until the end of the year.  Read More...

Evictions: How to Avoid Them

January 9th, 2018
By Jim Dangerfield, General Support

Evictions are one of the most challenging events for both landlords and tenants, they are emotionally draining and can be costly for everyone involved. Proactive property managers will want to ask themselves “How can I avoid evicting anyone?” Here are a few of our top tips for making sure you never have to worry about pushing your tenants out the door. Read More...

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