NEXUS PROPERTY MANAGEMENT 101: FREE PROPERTY MANAGEMENT TOOLS
If You’re Going To Manage Your Own Properties, Use Professional Strategies And Tools
At Nexus Property Management®, we are dedicated to redefining the real estate investment and property management landscape. Rental property is an underappreciated and under-tapped resource when it comes to creating passive income and planning for the future. While it’s totally commonplace for the typical American to contribute to a 401K or 403B, real estate investment just hasn’t cracked that threshold…yet. With that in mind, our team wants to share best practices and tools that will help others make the most of their real estate investment experience. Here are five of our most popular free tools for DIY property managers and landlords:
Nexus’ lease generator is our most used tool. As the largest residential property manager in Southern New England, we hang our hats on doing things right, and successful property management means avoiding unnecessary conflicts…and avoiding unnecessary conflicts means having strong leases. Your lease establishes the expectations around your private property. Everything from pet policies, snow removal, rules around smoking…if you spell it out in your lease and the tenant signs it, you have a legal document setting forth enforceable rules and expectations. It’s well worth your time to make sure you put some thought into your leases. Start by visiting Nexus’ free lease generator.
[ Strong Lease Example #1: PROACTIVE STEPS FOR TOWING DISABLED VEHICLES ]
With so many properties changing hands over the last couple years, it’s no wonder Nexus’ free Tenant Estoppel form is so popular. If you’re not familiar with the term, tenant estoppel refers to the continuation of a lease or contract from one party to another. As a new home owner, this form allows you to gather pertinent information about tenants you’re inheriting that will be certified (signed) by those tenants. As we mention in most of our articles, the goal is to AVOID UNNECESSARY CONFLICTS. This form includes:
- Resident names, numbers, and emails
- Rent amount
- Security Deposit information
- Utility payment information
- Appliance information
- Parking assignments/situation
This form can be signed by tenants digitally and then it easily converts to a PDF for your records (and theirs). Very professional, very efficient.
[ Learn More: WHAT TO EXPECT WHEN YOUR LANDLORD SELLS THE PROPERTY ]
The real estate market has experienced a couple really unprecedented years. With property values rising across the country and demang rising with it, many veteran investors are trying to figure out how best to maximize profits and minimize risk. At Nexus, we offer our Nvest® buyer’s agency services to help clients find and purchase rental properties that are right for them. It’s always helpful to have a professional in your corner. If you’re trying to assess on your own, here’s our Real Estate Property Investment Calculator to analyze the maximum potential return on investment for a given property. Contact our team with any questions or for more information.
[ Learn More: NVEST® SUCCESS STORY: JESSE MAYO ]
As stated above, we feel that the more people have positive experiences in real estate investment and property management, the better it is for everyone. If you’re someone trying to decide whether to hire us, or any professional for your management needs, we want to help you make the most informed decision.
Nexus’ free DIY Management Cost Calculator is a simple tool to help property owners put a monetary value to the effort needed to manage successfully. Evaluating the expected effort needed to the opportunity cost of what you typically do with your time currently, versus the amount you expect to earn each year, will give you a much better idea of whether or not doing it yourself is the best move for you.
[ Learn More: TOP 3 REASONS LANDLORDS SHOULDN’T CHARGE TENANTS FOR MAINTENANCE ]
Efficiency is key in so many arenas…rent collection is no different. The most successful and efficient landlords provide documentation for any payments made. Whether it’s rent, security deposits, or late fees, it’s best to keep records of all monies received. Our free digital rent receipt tool will show your tenants that you’re professional and responsible, which goes a long way. This tool fits that same theme we’ve established…AVOID ALL UNNECESSARY CONFLICTS by using technology to help add efficiency to your documentation systems.
WHAT OTHER PEOPLE ARE READING:
- THE BEST LANDLORDS CULTIVATE THE STRONGEST RELATIONSHIPS
- HOW TO START YOUR OWN SUCCESSFUL PROPERTY MANAGEMENT COMPANY
- WHY YOU SHOULDN’T CHARGE TENANTS FOR MAINTENANCE
Mick Lefort is the Vice President of Operations for Nexus Property Management®. A National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.
Your Property, MANAGED®
The Real Estate Investing Authority®
Connecting You To Better Living®
You Could Own A Nexus Property Management® Office For Less Than You Think!