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FotoNotes Provides a Lot More Than Photos and Notes
FotoNotes is a mobile-first solution for real estate field services, including property and facilities management, property preservation, broker price opinions (BPOs), construction estimates, and more. It's a great tool to collect and share real estate information — photos, voice notes, text, and other information in the field — and differentiate the average real estate agent from the tech savvy one. While FotoNotes is currently targeting property managers, an individual Realtor® could use the application in several ways: To document client tours of a property, taking photos, capturing note and issues, and giving clients this information immediately after the tour. Track repairs and improvements that might need to be addressed prior to the sale of a property To collaborate with a client and potential contractors on home improvements during the sales process – to share ideas and get cost estimates for carpentry, painting, roofing, and other remodeling and construction services To perform BPOs (Broker Price Opinions) faster and more thoroughly To quickly capture photos, location, and other information about a property and have it organized in a form (data structure) that they define To highlight special features or details in a house and share them with clients If they're also property managers, to issue work orders for maintenance and property preservation
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Bigger Isn’t Always Better
This article comes to us from David Vivero, founder of RentJuice and VP of Rentals at Zillow. When it comes to life as a real estate pro, it's not always the size that counts. While listings with a "For Sale" sign in the yard yield higher commissions, they can take more time and effort to move. Supplementing income from home sales by raking in multiple, smaller commission checks can add up to a lot – and it's becoming easier to do, thanks to a growing renter population and new innovations that are popping up throughout the industry. In the first quarter of 2012, the rental vacancy rate of 8.8 percent was 0.9 percentage points lower than the first quarter of 2011 and 0.6 percentage points lower than last quarter, according to numbers from the Department of Commerce's Census Bureau. Renting is on the rise, and the real estate industry is transforming to help brokers and agents meet the climbing demand. Multiple Listing Services are placing emphasis on rental listings data; companies like Zillow have added rentals to their "For Sale" inventory; and new players are emerging with technology offerings that allow for greater volumes, efficiency and precision.
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5 Reasons to Implement Online Rental Applications
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Whitepaper: How and Why to Retain Tenants
When you talk about cost-effective strategies for property managers and owners, tenant retention should be at the top of your list. If you keep your tenants happy, you'll keep receiving those uninterrupted rent checks in the mail (avoiding the time and expense of turnover). Today, we'll summarize the RentJuice whitepaper that details the ins and outs of tenant retention. You can download the full whitepaper for free from the rental experts at RentJuice. What's the Big Deal Tenant retention can improve your business by: Saving time and money. Each occupied unit means a regular stream of rent payments to your account, as well as less money and time spent on marketing and turnover maintenance. Increasing profit. According to RentJuice, "The Journal of Property Management revealed that on average, a retained resident is worth almost $900 each year on top of rent payments. Each time a resident moves out, a unit is vacant for an average of 1.5 months. If the tenant retains their lease, the property saves $1,350 as well as the additional costs that would go to marketing the vacancy." LTV and CAC Let's define two of the most important terms related to the economics of tenant retention – LTV and CAC. Then, we'll look at what they mean when combined. LTV: Lifetime Value of a Tenant. The LTV is the profit you'll make over the course of the entire time a tenant will be renting with you. The most important thing to understand about LTV is that it increases with each month a tenant stays with you.
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