How to Avoid Bad Tenants with a Due Diligent Tenant Check Process
Posted by Liza Mae in Editors' Picks, Property Management on May 11, 2011
The only protection a landlord has from screening out bad tenants is to have a due diligent tenant check process that verifies tenant information. The importance of having a tenant check process:
- Reduces risk of fraud
- Minimizes the risk of rental income loss
- Avoid bad tenants
- Minimize property management issues
There are important questions you need to ask a tenant’s reference in order to do a detailed tenant check and tenant screening. I remember the first time I did a tenant reference check and I was ill prepared and I sounded really lost and confused, so learning from my mistake I put more thought into interview questions for tenant referencing. Remember that the tenant’s references are provided by the tenant, so this should not be the only method for tenant background checks but it is one of importance. I recently learned the hard way that it is also important to note the ‘blanks’ or missing information for tenant reference information, such as current landlords and employers. This would of cost me a lot of long term grief and stress if I wasn’t reluctant enough to get an anonymous phone call in regards to a potential tenant I had awaiting to move-in. I am glad that nothing bad had happened from this situation for I nipped it in the butt. The BIG lesson I learned was,
‘Not only ask the question of ‘WHO’ is this reference but always ask the question of ‘WHY’ is this important information left out of the application?’
Check VALID Tenant References with a Detailed Tenant Check Process
In your rental application form you should have a section for tenant references for at least 3 references, this is important your tenant check process. The more references the better but they have to be valid tenant references that I define as someone who is not a family member or friend, so this is usually an employer, and current and past landlords. In my application process an employer and landlord are two of the most important people to interview for tenant screening. If a tenant can not provide me with any of this information – I will screen out the tenant’s application and move on to the next one. Of course there are some exceptions to this rule such as ‘self-employed’, students, retired, etc. but use your own discretion. If a potential tenant gives excuses of why they do not want to provide you with the information you require to do your tenant check, you have to question, ‘what are they hiding?’
Recently, a potential tenant told me that their landlord was out of country and I should of asked the question of,
‘Who is taking care of the rental property while they are gone?’
but I didn’t – my mistake cost me a month’s rent, so learn from my mistakes. Anyways, most likely the property owner would of left the property to a family, friend, or property management company to manage. So if the landlord is not available, there is always a second person to contact and don’t be afraid to get this information.
Tenant Reference Check Interview Questions You MUST Ask to Avoid Bad Tenants
When interviewing tenant references there is a basic structure of how you conduct the interview to do a due diligent tenant check. Just like a job interviewer, you want the interviewee to be relaxed and comfortable to convey information about your potential tenant and this is crucial to your decision to let this person rent your property.
1. Greet and introduce yourself to the tenant’s reference. The main purpose of your call is to verify information about your tenant, which they provided you in an application, so tell the tenant’s reference who you are and why you are calling. Also, be polite and ask if they have time to talk for being polite gives the tenant’s reference more comfort to speak to you.
“Hi my name is James, a property manager, and I am calling because Bobby (tenant’s name) listed you as a reference. I was wondering if you are available now to answer a couple of questions?”
2. Verify tenant’s relationship as listed on the rental application form.
- “How do you know the tenant?”
- “How long do you know him?”
3. Ask your detailed tenant check interview questions. These tenant reference check questions are broken in to two sections, employer and landlord related questions. There are some instances where you may need to design questions for other references but these two are the most common tenant references you should check.
a. Employer Reference Check Interview Questions
- “How much does the tenant make per month?”
- “How many hours does the tenant work?”
- “Is the tenant reliable? Punctual?”
- “Does she get along with her co-workers?”
- “What are the tenants strengths/weaknesses?”
- “On a scale from 1-10, what would you rate him as an employee?”
- “Would you hire the tenant again?”
b. Landlord Reference Check Interview Questions
- “How much is the current rental price of the property?”
- “Did the tenant pay the rent on time, every time?”
- “How long has the tenant lived in your rental property”
- “Why is the tenant moving out?”
- If moving due to relocation – “Did the tenant give 60 days notice on move-out.”
- If tenant already moved out – “Did the tenant leave it in good condition?”
- “Where is your rental house located?”
- “Have there been any damages or occurrences in the house?”
- “If the tenant were to re-apply today would the landlord accept their application?”
- “On a scale from 1 – 10, what would you rate the tenants?”
4. Thank the Tenant’s Reference for their time. This is self-explanatory but don’t forget to thank the tenant’s references for answering your questions and concerns that you had.
Implement Your Tenant Check Process Now!
I stress the importance of having a detailed tenant check process for once a tenant moves in to your rental property, it is hard to get them out and evicted. I just want you to avoid the tenant from hell by asking the right questions from a tenant’s reference, seeing the red flag signs of a bad tenant, and doing what is necessary to protect your property investment. Some bad behaviours are hard to break so finding out with a detailed tenant check process will minimize you from dealing with a potential headaches.
What Does Today’s Property Manager Have?
Posted by James G. in Housing Trends on April 29, 2011
What do you think when you hear the word property manager? You might have images of someone that helps with the collection of rent, the eviction of tenants, the repair of leaking pipes, possibly the cutting of grass in the spring and shoveling the snow in the winter, a “Mister Fix-it”, and sometimes a person who plans repairs done by others. Well, these are all true; however, today’s property manager has many other functions as ownership has become more complex.
A property manager’s job is not an easy task as there are constant conflicting objectives between the owners and tenants of any property. However, the main purpose of any property manager is to operate and maintain the property as efficiently and as effectively as possible according to the objectives and goals of the owner. Therefore, in addition to the things mentioned above, a property manager also needs to have excellent interpersonal skills, have the ability to consult with owners on anything necessary to acquire and dispose, work as site managers, and be creative. They must work for a professional property management company.
In today’s market, a property manager needs some extra things to put them apart from the basic. Here is a list of what a property manager has in today’s market:
1. Knowledge of marketing and leasing techniques.
This goes without saying; however it is more than just placing an ad on the internet and hope for the best. It is more about planning and marketing correctly.
2. An understanding of property finance and issues which can impact the stability of a property.
For example, the property manager has to have some basic skills associated with basic property valuation along with personal and corporate taxation rules. Not everyone who owns or even operates a property understands all of these things.
3. A long-range view and perspective.
Many people entering into the real estate market do not understand that property is a long term investment. As such the functions and issues associated with owning and operating a property is not performed over many months, but rather over many years. This would be a minimum to fully implement a well-developed plan to resolve serious issues.
4. Sufficient education.
It is very important for a property manager to have some formal education. There are two main organizations that provide specialized education courses in Canada for property managers—the Real Estate Institute of Canada (REIC) and the Building Owners and Managers Association of Canada (BOMA). The two professional designations relating to property management that are awarded are: Certified Property Manager (CPM) provided by the REIC and Real Property Administrator (RPA) awarded by the BOMA of Canada.
In summary, a property manager must be able to provide a broad range of services, all of which are developed to maximize the owner’s benefit from the property over some length of time. In other words, a professional property manager might well be a financial advisor specializing in property investments.
Which Investment Properties Are For You?
Posted by James G. in Buying Tips on April 28, 2011
Real estate investing provides the investor with various opportunities in the shape of different kinds of investment properties that can be looked for. As a result it is crucial for investors to understand the difference amongst these properties and their rate of returns before proceeding with an investment strategy. Below are some common kinds of investment properties that can be a good option for the real estate investor:
- Occupation of property – very common amongst investment properties is to invest in real estate for the sole purpose of owning it. Nowadays many investors take a 20 to 30 year mortgage loan from the bank and pay just 10-20% upfront fee to obtain their own home. However, many analysts do not regard this as a lucrative option for investment because of the absence of tax benefits and rental income.
- Rental property investment – this is another common form for investment properties in which investors buy apartments, condos, duplexes and other properties for the sole purpose of renting it out and earning a stable stream of decent income throughout for the rest of their lives. This property can either be sold for capital gains or rented out to tenants for earning rental income.
- Flipping property investment – this is the third most common type of investment properties. Many investors buy property for the sole purpose of getting it renovated and then selling it at a higher price. This enables them to earn capital gains via selling. Continuous investment in property development needs more time and effort, but the end results are also worthy to be noted. Many investors buy small houses, make moderate improvements in them and then sell them for a higher price. Others consider buying vast areas of land and building residential apartments that further could be rented out or sold. Risk and returns are paralleled with investment in flipping.
- Vacation property investment – although not very common but still practiced by many wealthy tourists of the world, vacation property investment involves purchasing property including land, buildings or houses for the sole purpose of enjoying their stay. When not in use, it can be rented out to locals for earning a steady flow of income.
- Foreclosure investment properties – these are those properties that are bought from sellers that are on the brink of getting bankrupted due to the inability to payback mortgage loans. It is categorized as a very lucrative option of investment. Because the bank is eager to get most of its capital invested on property, the buyer can get benefits in the form of discounts. This enables the buyer to buy it at a lower price and then either renovate it, rent it out or re-sell it for capital gains. Many investors are specifically on the run to look for foreclosure properties and invest in it in order to get some good cash flow.
With that being said the right kinds of investment properties might vary from investor to investor depending upon how each defines it.
Tips on Investing 101
Posted by James G. in Investing Tips on April 27, 2011
Tips on investing 101
Investing 101 is an investment guide that lists numerous tips for profit maximization through investment in various sectors, including real estate, stocks, bonds, commodities, etc. Investing 101 is a compilation of secrets that property investors like Donald Trump have used over many years to build a strong stable stream of rental income and capital gains from real estate investment.
When you want to put your money in the real estate market, you ought to look for better returns on it so that this growth could enable you to buy more properties and expand your wealth in the long run. Investing 101 provides valuable tips for real estate investment so that you make careful decisions before investing your money.
There are 4 common methods of investing 101 in the real estate market and these are:
- Appreciation of property – when you buy a property, and hold it over a period of time, it changes its value by appreciating, thereby giving you good returns in the form of capital gains if you wish to sell it at any time in the long run. Although, it is easier said than done. Real estate appreciation does not come without risks and price fluctuations. However as compared to price fluctuations and risk present in the stock market, this risk is substantially less, but still requires a high level of patience for an investor to reap long term fruitful results.
- Rental income – Investing 101 gives a useful tip of buying property and further renting it out to tenants in order to earn good income on a monthly basis. It provides for a good cash flow income for the property owners as they do not have to do the hard work to earn high amount of wealth.
- Invest, reap profit and reinvest – it is a golden tip of investment in real estate that one should never invest from their own pocket until they have the ability to tolerate losses. In layman terms, one should invest in the real estate market, wait for some time to let the property generate cash flow or capital gains and then reinvest in other real estate projects using the same profit earned from previous investments in real estate. This would keep your personal finances safe at one side and let your wealth grow slowly & gradually. This is how millionaires and billionaires of today are doing it. In the beginning they invested in small amounts, generated profits and then reinvested that profit on other real estate projects. This kept them from foregoing short term enjoyment for long term benefits. Many investors do not realize this aspect of real estate investment. They think that the short term profits generated are enough to build wealth not knowing that these profits can be used to buy more properties in the long run and enjoy higher rental income and capitals gains.
- Commissioned income – Investing 101 has listed this method as a highly technical one, only for those that are backed with years of solid experience in real estate trading such as real estate brokers and real property managers. Real estate brokers make money via commissions on each sale & purchase of property whereas real property managers charge reasonable fess for managing the day-to-day operations of properties bought by owners.
Investing 101 provides useful tips and strategies for real estate investment that you can follow to earn good income in the long run.
Why the Wealthy Start Investing in Property
Posted by James G. in Investing Tips on April 26, 2011
Why is investing in property considered one of the most lucrative options in today’s fast paced world? Crippling credit and rising inflation have forced people to look into various methods of generating income apart from their 9 to 5 jobs.
This blog posts discusses why many small investors and the wealthy consider investing in property and real estate market to be the most inflationary protected option amongst all. Many people start from the lowest level and eventually become wealthy enough to get indulged in various projects. This further enables them to accumulate more wealth, thereby continuing to run this cycle in property investment. When investors get richer and wealthier, they often stick to property investment. Below are some factors that can be counted for this reason:
- Opportunity to increase income and diversify investments – More millionaires and billionaires have been credited with investing in property instead of any other method of generating wealth. The wealthy start investing in the real estate market because this way they can increase more of their money and diversify their risks. With investment in various sectors of the economy the risk for an individual investor gets stable. Even if one sector lags behind the other, property still remains relatively stable and provides better returns.
- Secure investment – The wealthy invest their income generated from other investments in real estate because it is safer, secure and less riskier than other forms of investment like stock trading, and commodity trading that are linked with price fluctuations. Companies and banks can go and have gone bankrupt, however not many educated property owners have. This makes a good reason for a smart investor to eye their investments in the real estate market.
- Availing tax benefits – Many wealthy investors consider investing in property to be a viable option from other investment opportunities. One reason is for the tax benefits it has over other methods. The rich are usually worried over increased direct taxes that they have to pay. In order to avoid them, many invest in the real estate market. Allowances for depreciation and tax deductions make it a favorable option of investment for the wealthy.
- Increased capital growth – Many wealthy investors invest in real estate to grow their capital and income. These wealthy corporate individuals or companies buy vast areas of land and build residential schemes to further rent or sell apartments.
- Best investment – Wealthy investors consider investing in property as a means to grow their investment. To leave emotions behind, they can focus on other aspects of their wealth management and let the real estate sector increase gradually over time.
- In hopes of better returns – Many wealthy investors collaboratively invest in big projects in hopes to gain some percentage of the yield. This is called a mutual property investment. An example can be quoted of Morgan Stanley that had a property in Manhattan valued to be sold a little more than $6 million. While, Parekh, the major investment holder in the property invested only $1.25 million, the remaining was contributed by different investors with amounts ranging in between $100,000 and $625,000 for an expecting annual return of roughly 10%.
- Low yields of other investment options –The wealthy understand that property investment have lasting returns. This forces them to consider investing in property as a viable option as compared to other options of investment because property has a better return on investment.
Considering the above options, it seems like investing in property is the most viable option for the rich and the wealthy.
Points Agents Should Do When Listing Your Home
Posted by James G. in Selling Tips on April 25, 2011
Sales agents are active in the listing and selling of property. Tasks are generally arranged within six parts. In order to value the kind of function associated with home resales, the development of the housing deal is outlined.
1. Listing
This is the actual agreement inked involving the seller as well as the brokerage, permitting the brokerage to act as being the seller’s agent in offering the home for sale. A substantial percentage of residential resale consists of creating leads and changing these directly into saleable listings. Ability is uppermost because listings that aren’t at or near market value or perhaps in that the assurance and also cooperation from the vendor hasn’t been acquired generally lead to wasted energy, money as well as impression.
2. Prospecting
Prospecting requires the search for qualified purchasers with regard to listed home. The general public most likely has got the perception that it implies putting an ad in the newspaper in addition to a sign on the home. Even though these types of actions are types of recruiting, knowledgeable salespersons make use of various other strategies of effective prospecting that could be considerably more successful. The property when it comes to style, location and value can provide a seasoned sales rep having a profile of the buyer and definitely will focus on marketing and advertising pursuits as well as initiatives appropriately.
3. Qualifying and Showing
Qualifying includes identifying the buyer’s wants and needs. The extent of undertaking required in the approach is determined by whether or not the brokerage is representing the purchaser (i.e., getting work done in the most beneficial welfare of this person) or perhaps providing minimal expertise towards the buyer as being a customer (not necessarily representing that person, however supplying details in a truthful way as well as performing proper care and competence). Among the reason for being qualified is usually to limit the area to prevent misunderstandings and lost effort and time. After the suitable choice, the entire process of showing and offering correct and full details comes after.
4. Offer Preparation
The actual offer is a complicated paper, concerning quite a lot of fine detail with plenty of choices that should be produced by the purchaser. In planning an offer, the salesperson takes an extremely critical obligation to make sure that the actual document consists of all terms and conditions needed by the purchaser, as well as the elements essential to produce a binding contract, in accordance with the common law of agreement, exist.
5. Offer Presentation
Presentation on the purchaser’s offer for the seller requires research into the document and conversation of these issues as market circumstances and conditions that this seller ought to consider. The seller might accept, reject, or counter the purchaser’s offer. Countering the offer implies that the seller signs a deal to offer the house for the purchaser within conditions different from the buyer’s initial offer to buy. This could call for an offer presentation to the purchaser.
6. Follow-Up
The brokerage is required to follow through following the sale in the identical capable and careful way needed throughout the listing procedure and following negotiations. For instance, the agreement might have more than one condition that need to be fulfilled and proper written notices ready any time these types of conditions are achieved. Additionally, the parties might choose to modify the particular contract. Once more, the brokerages concerned have to behave in a thorough and well-timed way to deal with these kinds of adjustments; e.g., amendments have to be signed by the parties and duplicates sent out. In the event the conditions are not fulfilled or some other situations happen that can cause the deal to drop , then mutual releases need to be signed and copies given out.
How Much Is A Good Return On Investment
Posted by James G. in Investing Tips on April 25, 2011
How much is a good return on investment? The question may seem to vague, however, different factors first need to be put into mind before defining an ideal return on investment that is generated from real estate investment.
Real estate investment is a big business due to promising opportunities over the last few years in emerging economies including Singapore, Malaysia, Hong Kong, and India etc. return on investment from real estate investing differs from property to property and country to country. Some countries have stable infrastructure and strong currency due to which inflation is modest, with stable interest rates and high ROI. There are two types of rate of returns, one is nominal and the other real.
Nominal return on investment does not take into account inflation charges. ROI of 20% might seem too exciting and lucrative for a business investor. However behind this 20% there is a hidden rate that is stealing away most of the income from this return. Real rate of return is always inflation adjusted and should be the one you are looking for. With the 20% ROI in property, if the country’s inflation rate is 15%, you are just saving 5%. Your real ROI would be 5% and this is the one that you need to consider before investment. On the other hand, a 12% return on investment might seem low, but in a country with 3% inflation rate that translates to a 9% real inflation adjusted ROI, which obviously is higher than 5% ROI.
Inflation eats away the rate of return and should be kept in mind before investing in a country. This is the first and basic rule that you have to look for. Invest your money in those economies with the highest real rate ROI on real estate sector. Ideally speaking a good return on investment should be able to cover your monthly expenses and some extra money to bank in your money. Real ROI that is at least 10% or above is very ideal and perhaps a great ROI considering into account the inflationary pressures the economy is struggling with.
Another criterion to measure return on investment in property is to compare it with returns gained from savings account in bank. If the inflation adjusted ROI on property exceeds that of the savings accounts, then it is a green signal to invest in the real estate sector. With that being said, an ideal return on investment differs from person to person with varying levels of expectations and expenses. However the basics have been covered above regarding the factors that can influence the return on investment. Other factors including taxation should also be kept in mind before investing. The higher the taxation rate, the lower the ROI.
According to Warren Buffet, who is one of the world’s most respected investment leader, the ideal ROI should be around 15% with inflation and taxes adjusted. However, the ideal return on investment varies due to different factors that lead to such scenarios.
Why Is Real Estate Important?
Posted by James G. in Housing News on April 25, 2011
Many people talk about it, but not many know why real estate is so important to every country, and especially, here in Canada.
Property title is actually associated with vital financial, societal as well as political significance within the Canadian culture.
This article will take a look at three main reasons why real estate is so very important.
1. Real estate is vital for the Economy
A true property acquisition is often a considerable lifestyle choice that generally makes up the greatest individual portion of the majority of people’s individual assets. Coming from a company point of view, business purchases achieve billions, while organizations purchase substantial commercial as well as industrial establishments, utilities take in a great number of kilometres associated with rights-of-way, farming requires countless numbers of hectares involving agricultural terrain, and also non-commercial builders regularly develop a large number of houses each year.
2. Real estate is essential in Society and Politics
Property is additionally essential to help societal as well as the political atmosphere. Municipal legislation takes care of real estate possession protection under the law, at the same time federal government along with provincial laws reaffirm and control these kinds of legal rights. Homeowners experience benefits compared to the non-owner; e.g., finance is frequently much more openly given to people who possess their particular home.
3. Real estate is a basic Necessity
Most critical of all; housing is really a basic need for every Canadian. Exactly how property is actually created along with just what form new neighbourhoods adopt specifically impacts the particular atmosphere associated within the community and also the standard of living appreciated throughout Canada. Very few things occur without the need of real estate property.
What is ROI?
Posted by James G. in Financial Tips on April 24, 2011
What is ROI? ROI is an acronym for Return on Investment. It is a hypothetical measure to calculate possible returns, profits or income from any investment that you have done. In this article we are going to shed light regarding ROI in real estate sector and why is it important for investors.
Before any investment can begin, a proper plan and strategy gets defined by the investing party. One aspect of this plan is calculating ROI for the investment, in this case real estate sector. ROI has a high level of important in all business investment decisions. Investment in real estate sector is majorly based upon the factor of strong returns and incomes in the long term. Not many people invest heavy amount in real estate sector for their personal purposes, instead to buy at low and sell at high in the long term. This process is known as capital gains process.
Many investors get worried and ponder what is ROI? ROI varies depending upon various factors including, loan terms, interest rate, yearly rental income, taxes and expenses of the property that you have purchased. If taxes, insurance fees, legal charges, interest rates and mortgage payments terms & conditions changes, this would directly impact on the ROI of real estate sector.
What is ROI and why it is important? ROI is undoubtedly important in all real estate investment decisions because it gives an estimated yield of return divided by total investment in a year. Let us suppose that an initial investment of $300,000 gives an annual income of $40,000 after deduction of all taxes and maintenance costs. This would mean that the return on investment would be 40,000/300,000 = 13.33%. This rate is defined as the ROI on real estate investment.
It is advised to hire accountants or professionals in number crunching that can analyze the return on investments and give you a clear picture of your real estate investments. It is a simple idea and critical to investment decisions. Therefore a slight manipulation in ROI figures could result in complete disturbance of projected earnings and current investment options. Therefore it should be dealt with taking every possible factor in mind, only by the experts. Property, although is a stable asset that witnesses appreciation in the long term, one should never be too optimistic about the future real estate investment scenario. Therefore added provisions of taxes and increased expenditure on long term basis should be kept into account before calculating ROI in order to project the most realistic and true figure of the projected earnings.
In to understand what is ROI from a manager’s perspective, let us study an example. Managers use ROI at different levels of investment to make sound decisions on maximizing profits and adding value to company. Average ROI can be calculated for returns on investment based upon different properties invested. This can provide a fair estimation of ROI for real estate sector. What is ROI, and how does it make a difference in budgeting? When budgeting is done for real estate investment, it requires ROI as an initial target to be set for investment. Therefore, considering the above mentioned points it is highly crucial for a real estate investor’s success to determine the most accurate ROI in order to reap profitable returns in the long run. Now that answers the question, “what is ROI?” for real estate investment.
The Evolving Real Property Management Market
Posted by James G. in Housing Trends on April 23, 2011
What is real property management? Just like managers manage various departments of businesses, it is crucial to manage the hard earned precious dollars invested in real estate sector. Over the past years, due to rising trend of real estate investment, real property management has made its way essential to big names in real estate owners.
The swiftly changing real estate investment trend has called in for the needs of both compliance & ability to adapt ever changing dynamic market situations. Real property management is a management option for real estate market that enables companies businesses and even individual investors to effectively & efficiently manage the process of buying, selling and renting the property they currently one. It has become essential to manage property because the ever changing global investment climate has forced to make it an interesting business object to study and analyze. Real Estate management provides the latest and state-of-the-art real estate managing techniques using SAP, Enterprise Content Management and various other methods to convert, store and analyze all property related documents at one place, digitalized.
Gone were the days when manual trading used to take place. The explosive growth in internet has revolutionized the way people trade commodities. Nowadays, there has been an increasing trend of buying and selling properties online. This has led to adapt business solutions at lightning speed including the ability to convert paper documents into electronic format.
Since property is seen as an asset, real estate management techniques are now taught at college level. The fact that it has become an important aspect of real estate sector, many universities and colleges are now providing degrees tailored at specialization in real estate management. It includes basic methods and theoretical approaches for efficient managerial decision-making power in asset management, corporate real estate sector, and portfolio management. A well educated real estate manager using latest software and tools would become eventually a competitive edge in the market. Hiring a real estate manager makes sure that all processes are managed efficiently because he now better understands the market structure and analyzes the current trends. A real estate management team together with their leaders can always come up with a better marketing plan and strategy that acts as a cushion in volatile market situations.
Real property management has become a hotly debated topic and many new companies are providing specialized services focusing on owner’s objective, asset planning, and real estate planning. This helps the owners and real estate agents to better manage their properties while the agents perform their own tasks.
For big real estate companies owning hundreds of apartments, flats, condos and properties, it can become quite hectic to handle all of the necessary paper work, due to which there is a dire need to have a real property management system that could handle the entire paperwork. This could lead to hours getting wasted on manually analyzing and managing property and tenants’ paperwork. Latest software help in converting thousands of paperwork into electronic documents for better handling and easy access across the interconnected network of computers within the organization. This speeds up the process of gaining new potential clients and reduces time spent on managing real estate documents manually. As a result, it has become imperative for big companies and investors to look for real property management when it comes to handling their real estate investments.