A rental property is a major investment, so you'll want to generate a good return on it. In the Property Management Best Practices course, we summarize the techniques you can use to maximize revenues and keep control over costs. The course covers the full range of property management activities, including marketing, tenant selection, tenant relations, repairs and maintenance, and organizational issues - along with additional profit opportunities.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Identify the key tenant selection criteria that a landlord might use.
Chapter 2
Specify the variables to consider when setting rent.
Describe the steps needed to properly configure a property and advertise it.
Identify the types of staging improvements that can be applied to a property.
Specify the best ways to schedule a property showing.
Identify the safety issues associated with property showings.
Recall the best metrics for measuring your marketing effectiveness.
Chapter 3
Specify the kinds of property rules that you might impose on tenants.
Describe the different types of tenant onboarding best practices.
Specify how to increase the rent while retaining tenants.
Recall the best practices for encouraging tenants to extend their leases.
Chapter 4
Recall how to prioritize repair and maintenance projects.
Specify the best practices for preventive maintenance projects.
Chapter 5
Identify the different types of revenue-generating options that a landlord can use.
Chapter 6
Recall how to obtain valid proof that a check was mailed to you late.
Recall which documents should be stored in the various property management files.
Major Topics
The Ideal Landlord Skill Set
Landlord Location
Tenant Location
Property Profitability
Lease Duration
Identify the Target Market
Prepare the Property
Advertising Options
The Initial Contact
Scheduling Issues for Showings
Sales Tip
Safety Issues
The Lease Agreement
The Key to Tenant Relations
Property Rules
Collecting Rent from Tenants
Changing Rent
Dealing with Broken Leases
Dealing with Difficult Tenants
Standardize to Save on Maintenance
Conduct Preventative Maintenance
Minimize High-Maintenance Items
Conduct One-Call Fixes
Protect the Unit During Repairs
Private Rentals Revenue
The Due Diligence Checklist
Maintain a Contractors List
Prepare Income Statements