Despite the substantial damages from Hurricane Harvey and Irma last month, renters across the U.S. are hesitant to pay for renters insurance. In fact, it seems like natural disasters do very little to convince renters to get insured. The Insurance Information Institute found in their poll that only 41% of renters had renters insurance in 2016 (amid raging wildfires in California and Tennessee, flooding in Louisiana, and Storm Jonas on the east coast). As a lot of residents may believe your property’s insurance will cover damages or theft, it’s all the more vital that you try to convince your renters to take precautions before disaster strikes.
Original post on Payrent.com
Although PayPal, Venmo and direct deposits are fantastic features, there are negative consequences with collecting rental income through these applications. I hope you never experience these problems, but I want to educate you on worst case scenarios. Approximately 2.7 million families face eviction each year, and collecting rent improperly can adversely affect your business.
CICTotal Manager™ users can now take advantage of our brand new mobile app! Available on both Android and IOS, our new property management app empowers rental companies like yours with the ability to access property information on the go.
If you haven’t already heard— CIC™ will be exhibiting at the National Apartment Association’s (NAA) 2017 Education and Conference and Exposition in Atlanta, Georgia on June 22 & 23rd!
We’re proud to announce that we have enhanced our cloud-based property management software, CICTotal Manager™! Alongside our automated billing capabilities, marketing tools, and tenant management, we have now added Budgeting into our suite of all-inclusive features. With this new tool, you can now digitally set a budget for each of your properties.
Here’s how it works:
- Log into your CICTotal Manager™ account
- Click on the company profile
- Select the tab ‘Budget Creator’
To understand when is the best time to rent out a vacancy, or figure out how much the rental price should be, keeping a keen eye on the rental housing market in your area is a big part of that process. While you can easily spend hours reading market trend reports and analyzing the impact on your community, it’s important to come up with a plan in case the rental market slows. With technological alternatives and preparation to decrease your costs and improve your internal operations, you can create a buffer for your community in case the market takes a turn for the worst.
There’s no sugar-coating it—change is hard. Whether it’ll give your communities an advantage in the long run or not, it can sometimes be easier to ignore the benefits of a faster and more efficient property management software simply because you already know the ins and outs of your current program. Before switching your property management software, take some time to research exactly what your communities need and what you’ll be getting by upgrading. See if you can do a test run of the software. By digging around a little, you’ll be confident in the switch and make changing your property management software, easy.