Partnerships in property management are now invaluable assets, addressing the historically slow adoption of modern technologies in real estate and property management industries. More recently, forward-thinking property management companies have begun embracing technological advancements and strategic partnerships to add value, streamline workflows and provide a holistic experience for SFR (single-family residential) real estate owners.
Industry innovators have looked outside traditional property management tasks and duties to provide their rental property owners with a range of benefits to increase their return-on-investment (and equity). One of the more successful ways to do this is to establish strategic relationships that allow the property management company to achieve mutual goals while reducing investor costs and driving innovation.
Below are some ways in which property management firms and SFR real estate investors can benefit from using advanced technologies – whether it be proprietary systems or software and services provided by trusted vendor partners.
The Importance of Technology and Partnerships
Computers have been around for decades now, making life easier for people in all industries. But, over the last few years, the explosive pace of development of these emerging technologies has completely changed the way everyone does business.
Unfortunately, many companies in the real estate industry have fallen behind. To stay ahead of the curve, and to consistently identify the best opportunities in the SFR real estate investor market, it’s essential to embrace this technology.
The best way to do this in many cases is to partner with a company that provides tools and resources that directly benefit their operations and the return on investment for all clients.
Some examples include automation tools, in-depth data platforms and tax protesting services — all of which could help SFR real estate investors dramatically decrease costs and increase profits.
1836 Property Management Consistently Works to Improve the Investor Experience
1836 Property Management knows first-hand just how important advanced technology is to its operations, and to the return its clients can experience.
On average and year-over-year, 1836PM delivers a 10.56% return-on-equity for hundreds of SFR real estate investors. Their focus on clients’ long-term financial goals, reducing risk and maximizing performance drives everything that they do.
One of their main focuses is transparency, and we ensure that through robust data tracking. Not only does this allow 1836PM to increase the performance of the assets they manage, and reduce risk and volatility, it also helps clients rest assured knowing that their investment is in good hands.
The company is always striving to find different innovative ways to deliver a higher ROE (return-on-equity) for their clients, all of which is encompassed in their Property Management 2.0 experience.
Innovative Thinking to Increase Profits for Investors
One way to increase investor profits, or ROE, is to ensure you don’t overpay on your property taxes.
For investors, property taxes are an important consideration as they are a large recurring operating expense. Over the last few years, property values in Texas have dramatically increased and along with them, property taxes.
As Texas has no state income tax, property taxes are high as they fund local services such as schools, fire departments, roads, community colleges and much more. The amount of taxes a property owner will pay is calculated by the property value times the tax rate, which averages about 2%.
Each year, every county appraisal district sets a value for each property in the spring. Texas law allows each owner to protest the value if they believe it is too high.
Partnering with Home Tax Shield
1836 Property Management proactively solved the problem of rising property taxes for its real estate investors by partnering with Home Tax Shield, Texas-based property tax company that helps SFR real estate investors avoid overpaying their property taxes.
Home Tax Shield uses technology to reduce costs, making protesting property taxes easy to manage and understand. By adopting advanced technology, Home Tax Shield is able to offer its services to all Texas homeowners in more than 45 counties. Since inception, Home Tax Shield has protested more than $18 billion in Texas real estate, with $1 billion in value reductions that resulted in $13 million in property tax savings for Texas homeowners.
Efficiency Improvements
Adopting advanced technology can also help in many other ways. One area in particular where rental property owners can benefit is through automation.
Various back-end services can easily be automated, removing plenty of manual yet necessary work that must be done to ensure a property is properly maintained and administered. By embracing automation, 1836 Property Management has enabled its employees to focus on spending much less time on mundane tasks and much more time on the investor personally.
This hands-on approach to SFR real estate investing is just one of the many ways in which 1836 Property Management stands out from the competition.
Experience the Difference by Working with 1836 Property Management
If you’re a rental property owner in the greater Austin, Texas area, you can maximize your profits by embracing advanced technology. And the best way to do that is by partnering with an experienced Austin property management company such as 1836 Property Management.
Their team of professionals has years of experience helping Single-Family Residential real estate investors earn impressive ROE, utilizing best-in-class technological tools. Contact 1836PM today to find out how they can help you maximize your profits on your rental property.