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APM Help Blog

PM 101: From Broker to Property Manager – Navigating Your Newfound Role

April 3, 2024

Does this sound familiar?

You're a successful real estate broker, assisting clients with buying and selling properties. One of your investor clients, impressed with your work, asks you a seemingly small favor: manage a few of their rental units.  You agree, thinking it'll simply be leasing and rent collection. Yet, before you know it, you're fielding maintenance requests, chasing contractors, and handling the intricate details of being a property manager.

Many brokers-turned-property-managers find themselves in this position. While it might feel overwhelming at first, this unexpected shift can open doors to a fulfilling and profitable career path.

Now that you're here, how do you make the most of this opportunity?

Step One: Choosing the Right Property Management Software (PMS)

The perfect PMS empowers you to run your newfound property management business with ease and efficiency.  Consider these factors when making your decision:

  • Number of Properties: How many properties are you managing now, and how much growth do you anticipate?
  • Tech Savviness: Assess your comfort level with technology and how easily you can integrate various software programs.
  • Budget: Explore options at different price points and find one that fits your budget comfortably.

Beyond the Core: Supporting Software for Success

To truly streamline operations, consider incorporating these specialized software solutions:

  • Leasing Software: Automate scheduling for self-showings, saving you valuable time and widening your applicant pool.
  • Tenant Screening Software: Make informed decisions with software that analyzes various factors, ensuring you find reliable tenants who pay rent on time, minimize property damage, and reduce vacancy costs.
  • Condition Reporting Software: Choose options allowing for tenant-led move-in/move-out reports, providing convenience, saving time, and offering added security for your clients.

The Accounting Advantage: Why APM Help is Your Ideal Partner

Accounting and bookkeeping are where new PMs often stumble. Specializing in property management accounting and seamlessly integrating with major PMS systems, APM Help provides:

  • Guaranteed Trust Compliance: Navigate regulations and avoid costly mistakes.
  • Audit Protection: Comprehensive and accurate record-keeping safeguards your business.
  • PM Expertise: Focus on what you do best, knowing your financials are expertly handled.

Maintenance Coordination: Tying It All Together

Efficiently managing maintenance requests is essential. APM Help steps in, offering maintenance coordination solutions to keep your properties running smoothly.

Building a Successful PM Company

While building an efficient property management company takes time, APM Help is ready to put you on the fast track to success. We are your 'PM in a Box' solution, empowering you with the tools, expertise, and support needed to navigate this exciting new chapter in your career.

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Our Services

Services Tailored for the best Property Managers.

Whether it's rental property management, bookkeeping support, training, bank reconciliations, or emergencies - we're here to help.

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Financial & Books Cleanup

Get your books and financials cleaned up to be 100% audit proof.

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Trust Bookkeeping

We keep your trust books clean, tidy, and up to date.

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Corporate Bookkeeping

Don't worry, we also keep your corporate books clean as well!

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And so much more...

We provide a large array of services to help power the best PMs out there.