Here’s what you need to know about Virtual Property Management

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Technology is reaching new heights in all types of businesses, especially in the wake of the COVID-19 pandemic. Real estate marketing is feeling the impacts of technological advancements now more than ever since virtual property management became the new normal. With the implemented public health measures to combat the coronavirus’s spread, such as a ban on travel, and social distancing practices, the real estate market had to adapt to the situation. All real estate activities had to be done remotely to keep everyone safe from contracting the virus.

What Virtual Property Management can do

  1. Deal with clients.

Communication with clients is a very crucial aspect of property management. As a property manager, your responsibility is to take care of the property and keeping the owner posted about what is happening. Thanks to the technology behind virtual property management. All interactions with clients can be done remotely using virtual property management software

2. Dealing with tenants.

Through virtual property management platforms or software, you can also keep in touch with tenants remotely. Tenants can give their complaints to you remotely, and you can attend to them without having to go there

3. Regular updates.

Virtual property management keeps you regularly updated on the following issues:

  • The current tenants’ situation— if anyone is moving out and whether there are any problems with any tenants.
  • Invoices for repairs and materials.
  •  Balances in the reserve fund.
  • Latest news from the other owners in the building or in the neighborhood, such as if someone is selling.
  • Warning on potential renovations needed before time runs out.
  • Suitable upgrade ideas to increase the value of the property.

4. Paying bills and taxes.

With virtual property management, you can settle your bills and taxes through virtual means. You only need to get authorization from the owner and send paperwork for approval where required.

5. Grow your business.

As a property manager, virtual property management does not limit your business to any physical location. Through virtual means, you can get clients from any state, and this significantly grows your business. Virtual property management property also allows a property manager to easily manage multiple properties at once.

6. Virtual property tours.

Virtual property management enables virtual open house tours to take place.  Agents and buyers don’t need to meet physically to do the house tours. This serves a great advantage to sellers as most buyers nowadays are the younger population who are willing to use virtual means whenever possible.

Virtual property management is the future of property management that every property manager should be willing to jump on the train before it is too late.

About The Power Is Now Media

The Power Is Now, continues to keep you updated with the latest news in the real estate market, as we strive for advocacy of homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. In this regard, we have a team of professional realtors— VIP Agents stationed nationwide to help you with anything you need in attaining your homeownership dreams. You can get in touch with the VIP Agents at https://thepowerisnow.com/vipagent/. If you can’t find an agent from your area, you can contact me directly for a referral. Also, ensure you stay updated with any developing real estate market news by regularly checking our blog page at https://thepowerisnow.com/blog/. You can also set up an appointment to speak directly to me at https://calendly.com/ericfrazier.

Disclaimer: The views and opinions of Eric Lawrence Frazier are his own and do not necessarily represent First Bank or any organization affiliated with Eric Lawrence Frazier, or the Power Is Now Media Inc. First Bank is an Equal Credit Opportunity Lender. Eric Lawrence Frazier, MBA, is also a Vice President and Mortgage Advisor with First Bank. NMLS#461807 and a California Licensed Real Estate Broker DRE# 01143482. Email: Eric.frazier@fbol.com. Ph: 714- 475-8629.

Eric Lawrence Frazier MBA 
President and CEO 

The Power Is Now Media, Inc.

Sources

https://www.mashvisor.com/blog/virtual-property-management/.

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