Client Testimonial: Kristie C.

“My experience with Red Team has been more than wonderful. Working with Michael and his team made the process of moving from out of state less of a nightmare. When challenges came up, they were professional and helped me work through the solution. In the future, if I need to buy or rent a property in the Dallas/Fort Worth area, Michael and his team will be the first call that I make and I encourage everyone to do the same.”

-Kristie C.

Red Team News: The 7 Rules of Selecting a Property Manager sneak peek

Are you a current property owner who wants to ensure you’re getting the best return on your investment?

Red Team Real Estate is proud to announce that our very own Michael Mayes is publishing his first book, The 7 Guides When Selecting a Property Management Company. Set to debut in 2016, this book goes far beyond simply selecting a property manager. Inside you will find a wealth of information, tips and secrets that all current and would-be investors should know. Ready for more? Here’s a sneak peek of one of the topics Michael will cover:

Owners Technology

In today’s market it only makes sense to have technology working for you. Any Property Management Company worth their weight in salt will be giving your properties the leverage they deserve by using technological tools that will nourish a successful investment.

Show me the money!
Collecting rent shouldn’t be a hassle. If you’re still going door-to-door, or only accepting cash and check payments, you’re doing too much work. Every Property Manager needs to invest in technology that will allow tenants to pay in whatever manner is convenient for them. And remember, the rent you receive must be reported on your taxes, and the right software will keep detailed records of all payments. This includes monthly owner statements, cash flow reports and other information that owners need to confirm your “Rental Business” is working.

Welcome to the Inter-Web…
One of the latest and most effective tools for potential tenants and property managers to showcase their properties is online and through social media outlets. 87% of electronic device sales will be tablets and smartphones…which means property owners (or their managers) will need to accommodate this new generation of prospects and applicants with mobile online leasing tools. Investing in mobile online leasing tools allows potential tenants to do the whole application process online and saves you a heap of a paper mess!

There are only 168 hours in a week and your Property Manager should be working smart and using them wisely! Owning real estate is a business and should be treated as such. Just because someone agrees to collect the renter’s check, does not ensure they are looking out for you best interest…

The 7 Guides When Selecting a Property Management Company, coming soon in 2016!

Winning. Clients.

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

New Trends in Property Management

Which ones are shaping the future of your investment?

Part 1: Technology for Owners

Technology is changing the Property Management industry for both Landlords and Renters alike.The question is…which trends are shaping the future of property management right now, and most importantly, how can you use them to make the most of your investment? Here are Red Team Real Estate’s top two trends and the “must haves” for Investors or their Property Managers.

Management Software

Every REAL Property Management has to invest in Management Software to assist them in their account management. There’s so much paperwork and documentation involved in this business—it only makes sense to have technology working for you. Here are some of the most helpful and valuable tools for managing your property:

  • Accepting Payments via ACH
    Every month property owners and management companies spend a great deal of time and energy collecting rent from their tenants. All the while, costs for accepting, processing and depositing checks continue to escalate. Using a service like ACH saves you time, money and all the headaches typically involved in rent collection.
  • Reporting
    When you invest in technology and the management systems, it enables you to have clear and concise reporting. This includes monthly owner statements, cash flow reports and other information that owners need to review to confirm that their “Rental Business” is working.
  • End of Year Reporting
    Realtors that “do property management” have a hard time with end of year reports as well as with 1099s. When a Property Management Company invests in technology the 1099 process is automated and accurate. No hand completed 1099s for your owners or vendors!

Investing in technology for your Rental Business just makes good sense! Here are just a few other benefits you’re sure to appreciate:

  1. Web-based solutions available 24/7/365
  2. Risk management tools to help reduce losses
  3. Ability to edit payment information and schedule
  4. Robust reporting

Harness the Power of the Internet & Social Media

One of the latest and most effective tools for marketing to potential tenants and assisting property managers with showcasing their properties is online and through social media outlets. Sorry, folks…the world wide web isn’t going away, so if you’re not already proficient in rental property marketing, it’s time to hop on board!

  • Mobile Leasing Tools
    According to an article in Apartment Management Magazine, 87% of electronic device sales will be tablets and smartphones…which means property owners (or their managers) will need to accommodate this new generation of prospects and applicants with mobile online leasing tools. If you’re not already targeting mobile users you’re missing out on a huge slice of the renter demographic.
  • Application Process
    Most companies, regardless of industry, have embraced the Internet. It is amazing how many owners and “part-time” property managers are still using paper applications. What a mess! Investing in software systems allows you to do the whole application process online. With mobile online leasing tools, you’ll even have the ability to have a prospective tenant complete an application on an iPad or smartphone before they’ve left the property. Talk about efficiency!
  • Ratings and Reviews
    An online rating can carry a lot of weight with many potential tenants, and bad reviews tend to get much more attention than the good ones. Property management companies need to develop a program to get satisfied renters to post positive reviews and give good ratings. It may seem frivolous, but we’ve found that these types of programs are a worthy investment that can provide a good return.

Purchasing and learning how to use all this new technology may seem overwhelming to an Investor. Red Team Real Estate has a proven track record of giving their clients the leverage needed to stay on top of the most current trends. If you’re not already using a Property Management service, or your current company isn’t keeping up, we invite you to give us a call and speak with one of our experienced agents today.
  Winning. Clients.
Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

Red Team News: Are you thinking about purchasing a rental property?

Are you a current property owner who wants to ensure you’re getting the best return on your investment?

Red Team Real Estate is proud to announce that our very own Michael Mayes is publishing his first book, The 7 Rules of Selecting a Property Manager. Set to debut in 2016, this book goes far beyond simply selecting a property manager. Inside you will find a wealth of information, tips and secrets that all current and would-be investors should know. Ready for more? Here’s a sneak peek of one of the topics Michael will cover:

Real Estate Agent vs. Property Manager

Did you know that in Texas (and many other states) you must be a licensed real estate agent in order to be a property manager? While this law makes sense and has its benefits, there are some big downfalls that can arise from it as well.

Are you aware that something as small as a missing peep-hole could end up costing you up to $500 in rental code violations? Most of these “sign in the yard” type agents don’t really have the time or motivation to stay on top of the latest laws, or even the most basic ones for that matter.

There’s just no way that a part-time agent can manage and protect your investment as it should be, and most likely, they won’t be readily accessible or available when a crisis does occur. More times than not, the part-time “manager” usually views the property owner as a short-term revenue stream, not a long-term partner, which ends up costing investors more than they bargained for.

Owning real estate is a business and should be treated as such. Just because someone agrees to collect the renter’s check, does not ensure they are looking out for you best interest…

The 7 Rules of Selecting a Property Manager, coming soon in 2016!

Winning. Clients.

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.