Managing multi-family rentals is a huge task. Juggling tenant relations, maintenance, and financial obligations can quickly become overwhelming as responsibilities pile up. So, how can you manage these rental properties like a well-oiled machine? This article shares practical property management tips to help you streamline operations and boost efficiency. Contents of This Article Top Challenges […]
Category Archives: Property Management in Philadelphia
28
Nov
Nov
It’s essential for both homeowners and board members to know their legal rights and responsibilities as members of an HOA. Awareness of these bylaws and governing documents helps provide solid references when dealing with potential legal issues. Today, we’re reviewing some common HOA legal violations and what to do if your rights are violated. To […]
22
Nov
Nov
There are terms thrown about all the time when it comes to real estate investing. And oftentimes they are just letters, i.e. acronyms. ABR… CRE… FHA. One such acronym is SFR. What is SFR in real estate? It stands for single-family rentals. But what does that mean, and why do real estate professionals use it? […]
18
Nov
Nov
There are all kinds of reasons why someone would need to break their lease. Life gets in the way, right? It is a super big problem when the scenario arises. If you find yourself in that situation, one of the first questions you might ask yourself is: what are my options? How can you break […]
12
Nov
Nov
Running an HOA can be challenging. After all, the Board of Directors has several responsibilities, ranging from maintaining community property and enforcing rules to managing finances and resolving disputes. Having an attorney on your side helps keep your HOA legally compliant and free of potential lawsuits. Today, we’re reviewing why an HOA should seek legal […]
06
Nov
Nov
Having a reliable HOA management company is important for many reasons. Not only do they take care of several day-to-day tasks, but they ensure your HOA is compliant and your residents are happy. However, a bad HOA management company can cause several issues. From poor financial management to numerous homeowner complaints, a poorly performing HOA […]
31
Oct
Oct
Most people know that utility costs are higher than normal in the United States. In 2023, electricity rates reached an all-time high, driven by inflation, rising energy demands, fuel price volatility, and extreme weather. Not only does the rise in utilities impact property owners, but it can also impact renters who are responsible for paying […]
22
Oct
Oct
Can you amend HOA rules and regulations? Every HOA has bylaws and covenants that dictate how it is run and the responsibilities and obligations of the HOA and homeowners who live there. While board members lead and enforce, that doesn’t necessarily give them the power to amend HOA rules and regulations. Today, we’re going over […]
14
Oct
Oct
A well-planned budget is crucial for any homeowners association (HOA). That said, most of the money in an HOA comes from homeowners paying their dues. So, it’s important that the money gets allocated to projects and resources that will help the community. However, a budget that’s not properly prepared can cost homeowners even more money. […]
07
Oct
Oct
Making sure your homeowners association (HOA) is compliant with all federal, state, and local laws is crucial. Some laws, like the federal Americans with Disabilities Act (ADA), apply to all public accommodations. While not every HOA is open to the public, many are, so it’s important that your community association knows its responsibilities regarding ADA […]