Author Archives: TRAMS Mgmt

What Are Cost Containment Programs?

A very crucial aspect of hiring property managers for commercial or residential properties is to contain the costs and maximize the return. Cost containment programs are a truly effective component of budgeting. For most organizations, real estate expenses take up a significant chunk of the operating budget. Cost containment practices let you control the expenses necessary for operating a properly within pre-planned budgetary constraints. It’s an important management function to help keep costs down and to use them only for intended expenses.

T.R.A.M.S has a strong reputation in the field of property management and can influence vendor relationships and buying power to negotiate lower rates for necessary services for a property. Here’s a little more on what we can do with our cost containment programs.

Help you identify cost savings

By reviewing your property’s budget and analyzing it in comparison to similar properties we can help you determine if you’re overpaying for any goods or services you are currently purchasing.

Some things we can do are:

  • Identify utility audit savings
  • Conduct detailed contract reviews
  • Review collection practices to improve collection rates
  • Conduct periodic audits to ensure best pricing from suppliers

Cost containment programs can also help with optimizing space efficiency, can review your energy consumption to decrease total occupancy costs.

Provide Insurance Analysis

Detailed analysis of your association’s insurance policies makes sure that your coverage is adequate and that you’re not overspending on premiums.

Negotiation

By using our industry relationships, we can negotiate lower rates and preferred status in the market to increase your savings while keeping management fees affordable for you.

Improving your services through cost containment initiatives set out by a professional property management firm will help you identify where you’re losing money, let you see your weak points as well as your strengths and give you a strong sense of direction on how to proceed.

 

 

 

 

 

 

 

Property Management Checklist for Fall

Now that fall is upon us, it’s important to do some seasonal maintenance. Performing routine fall maintenance, cleaning and repairs will prepare your property for winter, helping to prevent harsh environmental conditions from causing damage. The fall is the best time to perform these routine maintenance projects before it gets too cold to work outside. Here is a helpful property management checklist for fall.

Animal Proofing

As soon as the temperatures start to drop, animals start looking for warm and dry places to nest for the winter. Many of these creatures, including rats, mice, and racoons, can burrow into small cracks and crevices in your property, disrupting the lives of all the residents and causing health and safety concerns. Sealing up any cracks or exposed entry points is a good way to prevent animals from infesting your property. Animal control experts can have the area around your property sprayed for extra protection.

Roof Protection

Your building’s roof is the premier barrier between your property and the elements. It’s important to make sure that your roof is cleaned and structurally sound before ice and snow can do any damage. Have any cracks or dents repaired to prevent leaks and flooding during the winter.

Insulation Inspection

Insulation is especially necessary during the winter. Not only does proper insulation keep your property temperature regulated, it also saves residents money on utility bills and prevent pipes from freezing, bursting and causing flooding. Have your insulation inspected and repaired to ensure that your property stays as warm and secure as possible this winter.

Getting your building prepared for winter can be a challenge as a property manager. For comprehensive property management you can trust, choose T.R.A.M.S Property Management. Our team of professional experts can make sure your property is prepared for winter with detailed cleaning and organizational assistance. Contact us today for more information about our property management services.

Our commitment can be your success!

Why Invest in Property Management?

As an owner of commercial or residential real estate, you need to get the most value out of your investment. To effectively achieve this, an experienced property manager can operate and oversee the building to make sure it is continually running optimally. Property management is also concerned with system processes known as the ‘life cycle’ of all acquired property. It covers acquisition, control, accountability, responsibility, maintenance, utilization and disposition. Overall, there are many reasons to invest in a property management company – here are a few of them.

Better Return on Investment

In many cases, having a strong property manager or management team on your side will increase the value of your property in the long run and help you earn more from your property. A property manager will:

  • Always keep your rental property rented
  • Strive to meet the expectations of tenants
  • Take care of maintenance requests
  • Report problems, damages in a timely manner (before they become too expensive to fix)
  • Increase the likelihood of your tenants renewing their leases (to create a low turnover rate situation)
  • Market your property
  • Screen prospective tenants (credit, criminal and eviction checks)
  • Get units ready for new tenants
  • Take care of billing

Having a property manager take care of these things will help you see a nice return on your property. The consistency a property manager will give to your building and tenants will lower your chance of damages and provide a solid system of operation within your property, increasing its value.

Attract Reputable Tenants

A property manager who knows what it takes to be a quality tenant does the best prospective tenant screenings. Screenings protect your property from abuse, damage and poor treatment that can not only cost you repairs but also cost you your reputation. While you can evict a bad tenant or two – it’s best you avoid it all together. Hiring a property manager will ensure that:

  • The people renting your property have good backgrounds
  • That rent is paid on time
  • That your property is respected

Fewer Legal Problems

It only takes one problem tenant to make a lot of legal problems for a property owner.  Property managers have the most up-to-date knowledge of tenant-landlord laws and will make sure your rights are protected.

Property management is simply the smarter way of organizing the care of your property to keep it in good condition for years to come.  Contact us at T.R.A.M.S Property Management to see how we can help you make owning and renting out property that much easier.

Blue Strawberry By The Sea

Blue Strawberry By The Sea

The combination of a tropical environment and charming accommodations makes Blue Strawberry By The Sea perfect for every vacation.

4208/4220 North Ocean Drive, Fort Lauderdale, Florida 33308
Call: (954) 202-9595 / Map

Property description

This Lauderdale By The Sea location is the perfect getaway in one of Florida’s iconic beach towns, offering you as much excitement as you could wish for or the peaceful privacy you’ve dreamed about. Whether it’s a long-awaited family vacation or a romantic getaway, Blue Strawberry By The Sea is the perfect destination for every travel occasion.
Leave the car parked and explore Lauderdale By The Sea on foot. You’re only seconds away from the beach, the fishing pier, shops and the charm of Anglin’s Square, where music and food create a festive atmosphere. You’ll find a delicious assortment of restaurants in Lauderdale By The Sea, including American, Greek, Japanese, Mexican, Italian and Caribbean cuisines. For dessert, visit the candy or ice cream shops.
Lauderdale By The Sea is known as South Florida’s Shore Diving Capital—the perfect vacation destination for those who love Scuba diving or snorkeling. There are several dive shops where sea kayaks and paddle boards are available for rent. This oceanside community invites you to take cooking classes, learn to dance, practice yoga or relax at a tranquil spa. Throughout the year, Lauderdale By The Sea welcomes visitors to a variety of community events, including an old-fashioned 4th of July and the annual Bugfest, celebrating the king of seafood—the lobster.

 

For prices and booking go to http://bluestrawberrybythesea.com/ or call 954-202-9595

 

Castle by the Sea

Castle By the Sea

Situated in the charming beach town of Lauderdale By The Sea, Castle by the Sea is just steps away from one of the best beaches in Florida

4520 N. Ocean Drive, Lauderdale by The Sea, FL, 33308
Call: (954) 772-8337 / Map

Property description

A 16 room motel conveniently located within walking distance to some of South Florida’s premiere shopping, fine dining, and nightlife. Whether a vacation spot, romantic getaway, a stopover for a cruise or just a weekend at the beach come enjoy the charm of Lauderdale By The Sea.
We offer a range of well-appointed standard and efficiency rooms. Relax in the pool or venture to many fine restaurants and bars for your dining and entertainment pleasure located nearby.
Lauderdale By The Sea is an upscale yet relaxed mile-long residential beach community. The town is a charming seaside village, just north of Fort Lauderdale city and on the eastern ocean front edge of Broward County. Since most of the buildings are restricted to four stories in height, this creates a serene Key West style oasis atmosphere in the center of thriving South Florida.
Throughout the year, Lauderdale By The Sea welcomes visitors to a variety of community events and celebrations, including an old-fashioned 4th of July and the annual Bugfest, celebrating the king of seafood—the lobster.
Visit us once and we are sure you will become like many guests who return over and over again. Allow us to make Castle by the Sea your home away from home.

 

For prices and booking go to http://thecastlebythesea.com/ or call 954-772-8337

 

Keep Your Condo Clean with a Property Management Team

In communal living arrangements such as condos, it can be difficult to decide who should be responsible for the cleanliness and upkeep of the spaces that everyone shares such as lobbies, courtyards, gyms and recreational rooms. Hiring a property management company for your condo building is a great way to create a happy and healthy space for everyone.

A property management company will manage the cleanliness and organization of all communal spaces in a condo building so none of the residents have to bear the burden of that responsibility. Here are some of the ways that a property management company can improve the cleanliness and overall wellbeing of your condo building.

Protect Your Health and Safety

Unkempt communal spaces in your condo can have negative health effects for all the residents of your building. Germs from unwashed gym equipment, for example, can quickly spread through the halls and into the apartments on each resident. If garbage in the lobbies and courtyard are not dealt with properly, it could lead to insect and mold infestations. A property management team will make sure all communal spaces are properly maintained so that no harmful germs or bacteria will be able to grow, keeping you and your neighbors safe.

Avoid Conflicts

Messy communal spaces can also put a strain on the relationship between you and your neighbors. Without external support, many condo associations have trouble delegating cleaning tasks and monitoring the regulations of their building’s communal spaces. This can lead to conflicts and negative attitudes amongst residents.

A property management company will oversee the cleaning of the communal spaces in your condo so that you and your neighbors don’t have to worry about it. A property management team will keep communal spaces spotless and organized so the residents don’t have to take time out of their busy schedules to keep their building clean. Hiring a property management team is the most convenient way to ensure that the communal spaces in your condo building stay clean.

The experienced and qualified experts at T.R.A.MS. Property Management will hire and manage a professional janitorial service to ensure the cleanliness of your condo building. Contact us today for a comprehensive series of stress-free condo management services.

Common Condo Management Issues

 

Condo management can be a difficult job. It involves negotiating the needs of property owners, making sure all the communal areas are clean, collecting condo association fees, and keeping track of finances. The condo management team is responsible for dealing with the overall maintenance of the condo building as well as any day-to-day issues that may arise. Here are some of the most common problems that a condo management team will encounter.

Neighbour Disputes

Most condo owners have a strong neighbourly relationship with the other people who live in their building. However, living in close proximity to other people means that there is a chance that conflicts between neighbours may arise. If you have an issue with another condo resident, your property manager can help. If you’re experiencing issues with a noisy neighbour, for instance, your property manager will be able to sort out any dispute to find a resolution that is fair for everyone. It’s important that every condo resident be respectful to the other occupants, who may include families or people with hectic work schedules. A property manager will be able to mediate any conflict so everyone in the condo can live comfortably.

Common Area Issues

The property manager is also responsible for the upkeep on the condo’s communal areas, which includes the lobby, elevator, parking garage, and any courtyards, gyms or event spaces in the building. The common areas can become littered with garbage if residents aren’t properly disposing of their trash. Property managers ensure that residents are putting their garbage in the designated area and not throwing debris like cigarette butts over the sides of their balconies. If there’s an issue with the cleanliness in the communal spaces of your condo, contact your property manager to have the issue dealt with fast and effectively.

Managing a condo is no easy task. If you or your condo association is having trouble juggling all the responsibilities of property management, contact us at T.R.A.M.S Property Management and we’ll help get your building operating smoothly.

What Makes a Good Condo Association?

If you’ve recently purchased a condo, chances are you have been asked to join a condo association. What is a condo association exactly, and what makes it run smoothly? A condo association is a governing body that makes decisions about the operation of a condominium building. All condominium owners within a building are members of that building’s condo association.

CC&Rs

The main role of a condo association is to make sure that all of its members are complying with the contractual obligations they agreed to follow when they bought their condo. These contractual obligations are known as covenants, conditions and restrictions (CC&Rs).

CC&Rs can include regulations about things such as pet ownership, parking spaces, and how the communal space of the building is to be treated. Local policies and bylaws dictate what kinds of things can be included in the CC&Rs.

Property Management

Condo associations are also responsible for the physical and financial upkeep of a property, including:

  • Rent and condo fee collection.
  • Hiring and maintaining employees for grounds keeping and janitorial work.
  • Dealing with electrical and plumbing issues.

How T.R.A.M.S Can Help

Juggling all of these issues at once can be overwhelming. That’s why many condo associations opt to delegate these tasks to a property manager, who can oversee the day-to-day maintenance of the building, as well as manage financial and logistical issues.

As an experienced property manager should, we will maintain a close relationship with the board of directors of a condo association. This open line of communication is the key to smooth and successful property management.

If your condo association is looking to work with a property manager, contact us at T.R.A.M.S Property Management. We have a team of experienced, highly trained professionals who can take care of all the practical details of property ownership so you can focus on what’s important to you.

What are the Tasks of a Property Manager?

Property managers are concerned with the day to day operations of the property, from making sure the building is always clean to finding effective solutions to any situation that may come up, as well as the additional needs for upkeep. This means property managers can do many different tasks besides the obvious ones such as rent collection.

Some of the Things a Property Manager Does

Responsibilities vary depending on the type of property being managed. But generally, these tasks apply to many scenarios.

  • Set the appropriate level of rent (based on detailed analysis of the area) to attract tenants to rent out your property
  • Collect the rent –they also enforce rules regarding rent and administer late fees
  • Ensure optimal cash flow for your property
  • Adjust the rent –rent can be adjusted by a fixed percentage per year depending on local laws

They also deal with anything that has to do with the tenants. This includes…

  • Doing background checks on tenants (credit, criminal, and the application process)
  • Handling leases and security deposits
  • Dealing with complaints
  • Dealing with emergencies
  • Properly handling an eviction file
  • Being well read on the landlord-tenant laws and rights

They also cover maintenance and repairs to make sure that the property is in tip-top condition such as:

  • Performing preventative property maintenance –such as handling exterminations, snow removal, to check for leakages, remove trash, etc.
  • Hire repairmen or fix things themselves –building a reliable network of contractors, plumbers and electricians

Finally, their role also covers supervision tasks.

They oversee:

  • The hiring of additional employees
  • Vacant properties –making sure contractors and other personnel are getting their work done on time
  • Budgets
  • The management and maintenance of records
  • Filing taxes

Experienced property managers are extremely versatile – they deal with everything from financial management to the management of tenants and building maintenance.

What we do at T.R.A.M.S. is work hard to ensure the profitability of your building.

Contact us today for more information on how we can help manage your property effectively and efficiently.

What Makes a Great Property Management Company?

The best property management company goes beyond the standard service you might expect. It is concerned with helping your community and building toward a successful future. Below are some key aspects that make a great property management company stand out from the rest.

Strong Communication Skills & Leadership

Who your manager is and how their team supports them is crucial in ensuring strong leadership and effective communication skills. To this end, a team of experts across various fields including Engineering, Training Support, Human Resources and Accounting will help provide advice from all angles.

Having effective communication tools put into place make it easy to contact your company. A 24/7 call center or other means of technological communication will add a professional quality to your company as you can address the needs of clients as soon as they come up.

Solid and Transparent Standard Operating Procedures

Proven operating procedures are the next thing investors should be looking at. What properties have you worked on or which communities have you served? Was effective preventive maintenance programs (PM) put into place? Were audits of all contracts and vendors complete?

Transparency is key, and having a transparent financial budget and system of handling finances and solutions can really increase the value of your property. If your credibility and reputation is high, this makes the standard of living for your residents high as well.

Effective Financial Planning

A strong network of certified accountants is important for the health and prosperity of your property management company. Reviews should be carried out internally on a regular basis to ensure that the work is being done to its finest quality.

Solid Partner-Relations

Having solid and long-term partner-relations with vendors ensures that savings and discounts will be present on large purchases. Lower rates on regular maintenance, for instance, help to ensure that the building will be properly maintained.

Accountability & Sustainability

Continually improving and keeping an open mind ensures the potential for growth in the industry. It’s really important to make sure that you don’t rest on your achievements as a company.

Finding sustainable “green” initiatives is also a significant component of a great property management company. Having accredited LEED professionals on your team shows your expertise and commitment to green building.

Good Training Practices

Commitment to good training practices means exceptional customer service from your team. A unified, strong and trained property management company will provide continual education and development programs for their managers. Hands-on-training, etiquette, and online learning platforms are examples of learning that can enhance the knowledge of new trainees. This shows that your company leads in product knowledge of the industry and is equipped to deliver the finest level of service.

At T.R.A.M.S. Management, we offer all this and more to the communities we work in. Take a look at our property management work here.