If you are new to property management, it can be overwhelming to think about all of the property management supplies that you may need to purchase. To make sure that you are purchasing the right property management supplies, it is important to make sure that by purchasing them, you are making managing your property easier, more efficient, or more profitable.
When most people think about property management supplies, they immediately start to think about different types of software and forms that they may need, however there are a much broader range of supplies that are bought and sold on a daily basis. Here is a quick look at some of the general categories of property management supplies and why they might be helpful to you.
You cannot discuss property management supplies without discussing software. There are a wide variety of different property management software packages available, and it is important to choose one that you are comfortable with. You need to decide whether or not you want the software for internal use only, or if it will also be collecting payments from residents directly. An online property portal website has become a common way for residents to make payment online instead of having to drop of the payment at a physical location.
There are several different key areas of maintenance supplies that property managers may find useful. Excluding the actual materials that will be used to make repairs, common supplies include: door hangers (which let renters know when your maintenance person will be there, or if they have already stopped by), ready boards (to manage your staff), and work orders, which is the physical paperwork will keep things organized.
3. Parking Control
If you are managing a complex that has private parking or designated parking spaces, then you may need supplies like parking permits for vehicles or violation tickets. Along with parking control, you may need to purchase a number of traffic related signs including: interior signs, parking signs, sign posts, and even designated spot signs.
4. Leasing Tools
Some people may argue that the software that property manager uses should fall into this category, however with so many different pieces of software being used, many people think that they deserve a category of their own. Additional leasing tools include items like key controls, rent collection accessories, leasing forms, and much more.
It doesn’t matter if you are trying to rent out one property or 100 properties, or even an entire complex of properties, you will likely need some marketing products. Some of the more common marketing property management supplies may include: balloons, bandit signs and frames, banners, flags/poles, and even full marketing kits.
6. Pet Control
If you control a complex, then there is good chance that you will need pet waste disposal supplies such as paw pal bags and paw pal stations.
As you can see there is a much broader range of property management supplies than just software and some forms. Managing properties is getting more similar to managing hotels every year, which means that there is a good chance that there will be even more supplies that will be considered essential in the future. Remember, in order to justify your purchase of supplies, it should be considered essential because it: increases efficiency, increases organization, increases profitability or is required by your tenants.
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