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PERSONAL STATEMENT EXAMPLE Real Estate Personal Statement

Submitted by Phillip

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Real Estate Personal Statement

The catalyst of my desire to study Real Estate stems from a young age: when walking around the cobbled streets of Moray Place in Edinburgh's New Town, I was left with a simple question: "why was this street so different to the rest of the New Town?". A few years later, an answer appeared on a BBC programme 'The Secret History of Our Streets': it explained the social change in Edinburgh at the time and that the upper-middle classes wanted to move away from the highly polluted Old Town to the modern and cleaner New Town. The Earl of Moray decided to create the largest Georgian Terrace in Europe, Moray Place. For me, learning that there was so much more to this one street really stirred up a personal interest in the world of Property and Real Estate.

Following on from that, I started looking at property prices around Edinburgh by using Rightmove and subscribing to The Property Hub, receiving three issues a year since early 2016. This was not enough, however, and I wanted to see how a real estate agency operates away from my local city. I was lucky enough to secure a week of work experience at Wetherell's and Carter Jonas in Mayfair, London. In this week, I was taken aback by the complexity of it all, learning legal processes, seeing how changing political climates affect property, and more. During my time at Wetherell's, I was shown a legal process called 'Know Your Customer', which must be used before the purchasing of any property in the UK. This process is used to firstly identify the customer's legitimacy, to avoid money laundering schemes, and to make sure there has been no suspicious behaviour in the past. This Real Estate Law is a part of the course that I find particularly interesting. During my time in London, I independently organised a session with a real estate agent at Knight Frank. I had done some research prior to the session and asked if I could be given an introduction to LonRes, the property data network used by some of the most established real estate companies in the United Kingdom. I was shown how to use the data network, and even helped gather data for a client on the average price per square foot in the area where she was wishing to purchase property. I also learned that the sales process is often a collaborative process, and that many agencies in London and across the UK work together and share data to assist one another.

Taking Geography and Politics for A Level has given me a firm base to study my chosen degree: I have studied housing deprivation and the need for more housing development projects in deprived areas of the UK in Geography coursework, whilst in Government and Politics I have strengthened my knowledge on both the political framework and current political climate in the United Kingdom. Classical Civilisation has given me essential essay writing skills which will be invaluable at university. Outside of school, I had two part-time jobs over the summer: picking 'wild oats' on a farm and working in an engineering factory. Both jobs required good time keeping, enthusiasm and the ability to work in a team. I believe these skills are some of the qualities needed to be successful at university, and would certainly be applicable to my chosen career path. This academic year, I was appointed to the role of School Prefect, giving me responsibilities in supervising and guiding younger members of the school. I am also the anti-bullying representative for my house, a role which requires patience and pastoral skills. I am a keen sportsman and have represented the school at rugby and cricket. This has taught me to communicate well and work with a wide range of personalities.

I see this degree course as the start of a career that I have wished to pursue for a long time. I am ready for this next step in my education in Real Estate and university will help me enhance my knowledge of a subject I have a great passion for.

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How to Easily Set Up Owner Statements to Keep Your Owners Happy

As a property manager, it is essential to keep accurate records of the financial activity of rental properties.

Owner statements are reports that summarize the income, expenses, and net cash flow of a rental property during a specific period.

Owner statements provide property managers with critical information on the financial health of a rental property.

These reports help managers track income and expenses, monitor cash flow, and provide a comprehensive report to property owners.

Effective management of owner statements is crucial to maintain the trust and satisfaction of property owners.

In this post, we will discuss how to easily set up owner statements to keep your owners happy as property managers.

We will cover the different types of owner statements, tips for creating effective statements, common mistakes to avoid, and best practices for managing statements.

By the end of this post, you will have a comprehensive understanding of how to manage owner statements effectively, resulting in happy property owners and thriving rental property businesses.

Understanding Owner Statements

Owner statements are reports that show the financial activity of a rental property during a specific period.

The statement typically includes a breakdown of the income generated by the property, the expenses incurred, and the net cash flow.

Owner statements typically contain the following elements:

• Income: This includes all rental income generated by the property during the specified period. It may also include any other income generated by the property, such as late fees or pet fees.
• Expenses: This includes all expenses incurred during the period, including repairs and maintenance, property taxes, insurance, and utilities. It may also include any other expenses such as property management fees or legal fees.
• Cash Flow: This shows the net cash flow of the property during the period, which is the difference between the income generated and the expenses incurred.
• Other Information: This may include any other relevant information, such as vacancy rates, tenant turnover, and any outstanding bills or payments.

There are different types of owner statements such as monthly owner statements, annual statements, and special purpose statements.

Monthly statements are generated on a monthly basis and provide a summary of the financial activity of the property for the previous month.

Annual statements are created once a year and give a summary of the financial activity of the property for the entire year.

Finally, special purpose statements are generated for a specific purpose, such as for tax purposes or to provide information to a lender. These statements may have different formatting or information requirements compared to regular monthly or annual statements.

Understanding the different types of owner statements and the elements they contain is essential for property managers to effectively set up and manage owner statements for their rental properties.

Setting Up Owner Statements

To set up owner statements, you need to choose the right software that will enable you to track rental income, expenses, and cash flow with ease.

This software should also have the ability to customize and automate the creation of owner statements. A great property management software option to consider is, you guessed it, DoorLoop.

We also have tons of reading material about different property management software companies so you can pick the one you truly match with, so read more about that here.

Once you have selected the appropriate software, the next step is to gather all necessary financial information.

This includes the total amount of rent collected, expenses incurred, and any other income generated by the property during the specified period.

Organizing financial information is crucial for creating accurate owner statements, so here are some of our tips:

• Categorize Income and Expenses: Categorizing income and expenses into different categories, such as rent income, maintenance expenses, and property taxes, allows for easier tracking and analysis.
• Identify Different Properties: If managing multiple rental properties, it is essential to identify each property and track its income and expenses separately.
• Create Accounts for Each Owner: Create individual accounts for each property owner to ensure accurate tracking of income and expenses for each property.

Creating Templates for Owner Statements

Creating templates for owner statements can save time and ensure consistency in formatting.

We advise always choosing a template design that is easy to read and visually appealing to the property owner. This should also be in line with the company's branding.

You should also, customize the template to include all necessary information, including the property owner's name and contact information, rental income, expenses incurred, and any other relevant details.

Finally, once the template is complete, save it for future use and updates. This will ensure consistency in formatting and save time when creating future statements.

Now that you know a little bit more about creating owner statements, we'll discuss some of our tips to make them more effective in the upcoming section.

Tips for Creating Effective Owner Statements

Effective owner statements are essential for maintaining a positive relationship with property owners.

Let's see how you can make these more effective!

Clear and Concise Information

Owner statements should provide clear and concise information that is easy for property owners to understand.

The use of charts and graphs can be helpful in presenting financial data. Additionally, property managers or property management companies should avoid using technical jargon or complicated financial terms that may confuse property owners.

Accurate Information

Owner statements should be accurate and reflect the true financial situation of the property.

Ensure that all financial information, including rent, expenses, and other income, is recorded accurately to avoid discrepancies and disputes with owners.

Timely Delivery

You should aim to deliver owner statements on time, ideally within the first few days of the month following the reporting period.

Late delivery of a property management report can lead to frustration and mistrust with rental business owners.

If there are any delays in creating the owner statements, always communicate this to the property owners and provide an estimated delivery date.

Transparency

Remember to always be transparent in your property management reports by providing detailed information about income and expenses incurred, such as providing an income and expense statement.

Property owners should be able to review the owner statements and understand the financial status of their property.

In addition, you should also be willing to answer any questions or concerns that property owners may have.

Professionalism

Owner statements should be professional in appearance and content. Ensure that the statements are well-formatted, with a clear and concise message.

The use of proper grammar and spelling is important in maintaining a professional image, so watch out for common typos and mistakes.

Common Mistakes to Avoid

While setting up owner statements is crucial, there are common mistakes that you should avoid to ensure the effectiveness of the statements, let's discuss some of these below.

Not Recording Expenses

Failing to record all expenses can lead to inaccurate owner statements. So always keep track of all expenses related to the property, including repairs, maintenance, insurance, and utilities.

Failing to Categorize Income and Expenses

Categorizing income and expenses correctly is essential for accurate reporting.

To avoid this, you should create categories for income and expenses and ensure that all transactions are correctly categorized.

Not Keeping Records up to Date

Keeping records up to date is essential for the accuracy of owner statements, so remember to maintain a system for recording all financial transactions, and they should be updated regularly.

Not Keeping Owners Informed

Keeping owners informed is crucial for maintaining a positive relationship with owners.

Ensure to communicate regularly with owners and provide updates on the financial status of their properties.

You should also be available to answer any questions or concerns that owners may have.

Not Providing Detailed Information

Owner statements should provide detailed information about the financial status of the property.

Property managers should include all income and expenses incurred during the reporting period and provide a breakdown of each category.

Additionally, they should be willing to explain any financial information that may be unclear to the owners.

Avoiding these common mistakes, can ensure that your owner statements are accurate, up to date, and provide owners with the information they need to make informed decisions about their properties.

Best Practices for Managing Owner Statements

To effectively manage owner statements, you should follow these best practices:

• Communicate Regularly: communication with owners is crucial for maintaining a positive relationship. Always update owners on any changes to their property, as well as the financial status of the property.
• Review Statements Regularly: Review owner statements regularly to ensure that all information is accurate and up to date. Regular reviews can help catch any errors or discrepancies early and avoid issues down the line.
• Be Prepared to Answer Questions: Owners may have questions about their statements or the financial status of their property and you should be available to answer these questions promptly and thoroughly.
• Address Issues Promptly: If an issue arises with an owner statement, you should address it promptly. Delaying or ignoring issues can lead to mistrust and damage the relationship between you and the owner.
• Keep Records Secure: Maintaining the security of owner records is critical. Ensure that all records are kept in a secure location and that only authorized individuals have access to them.

In conclusion, setting up an effective owner statement or rental owner cash report is essential for property managers to keep their owners happy.

Understanding the elements of owner statements, organizing information, and creating templates are all crucial steps in the process.

Additionally, you should always aim for clear, accurate, timely, transparent, and professional owner statements.

By implementing the strategies mentioned today, you can build trust and maintain a positive relationship with your owners.

Previous Article

Go back to the hub, next article, explore more topics.

Learn how to buy your first or fiftieth rental property, including how to find properties,  the purchase process, financing, and more.

Learn how to rehabilitate a rental property, what renovations and upgrades to invest in first, and how to find and pick contractors.

Learn how to start your rental off with a bang, including marketing the property, finding tenants, renting, & more.

Learn how to refinance your property, manage security deposits, simplify property accounting, and more.

Learn how to streamline your property management, repeat the process, and grow your portfolio.

Learn how to launch your property management business, including how to set up your company documentation, put together a business plan, do competitor research, set up your accounting, and more.

Learn how to attract and manage investors, including how to market your property management business, implement your marketing plan, onboard new investors, and keep your client investors happy.

Learn how to create an amazing resident experience as well as streamline your tenant onboarding process, welcome new tenants effectively, maximize tenant retention, going above and beyond, and more.

Learn how to manage your client’s properties from start to finish, including how to advertise your investor’s rental properties, collect rent, set up an effective maintenance program, and more.

What additional services should you offer? And what initiatives can you implement to increase revenue and maximize profitability? In this guide, you’ll learn all of that and more. 

 Learn the basics of good property accounting, from important terms, metrics, and formulas to best practices and mistakes to avoid.

Learn everything you need to know about choosing the right accounting tool, from spreadsheets to software.

Learn how to set up your property accounting system start-to-finish, from rent collection to bookkeeping tips and more.

 Learn how accounting reports drive your business’s success, from setting up your monthly accounting cycle to annual reviews.

Learn everything you need to know about managing your taxes, from rental income tax tips to ways to reduce your tax burden. 

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Property Manager Cover Letter Examples

Use these Property Manager cover letter examples to help you write a powerful cover letter that will separate you from the competition.

Property managers are responsible for the day-to-day operations of a property, including maintaining the property, overseeing the staff, and dealing with tenants. They need to be organized, efficient, and able to handle multiple tasks simultaneously.

When you’re applying for a property manager position, your cover letter is a great opportunity to highlight your skills and experience. Use these examples to write a cover letter that stands out from the competition.

Formal/Professional Writing Style Example

With a strong background in property management and a proven track record of success in managing large-scale properties, I am confident in my ability to excel in this role and contribute to the growth and efficiency of your organization.

Over the past seven years, I have gained extensive experience managing both residential and commercial properties, consistently achieving high tenant satisfaction rates and overseeing an efficient maintenance and repair system. My skill set includes budgeting and financial management, negotiation of leases and contracts, and implementation of preventive maintenance programs. Moreover, I possess excellent communication and interpersonal skills that allow me to establish and maintain strong relationships with tenants, vendors, and staff members.

As a Certified Property Manager (CPM) and a member of the Institute of Real Estate Management (IREM), I am also dedicated to staying current with industry trends and continuously improving my professional skills. This dedication to professional growth is evident in my ability to lead a team to meet and exceed performance targets, maintain a high occupancy rate, and minimize property-related expenses.

In my previous role at XYZ Property Management Group, I successfully managed a diverse portfolio of over 50 properties, reducing operating expenses by 10% and increasing overall tenant satisfaction by 15%. I am eager to bring my expertise in property management and commitment to providing top-tier service to your organization.

Thank you for considering my application. I am excited about the opportunity to discuss the contributions I can make as your new Property Manager. I am available for an interview at your convenience and can be contacted by phone at [Your Phone Number] or by email at [Your Email Address].

[Your Full Name]

Entry-Level Writing Style Example

As a recent graduate with a Bachelor’s degree in Business Administration and a strong interest in real estate management, I believe I could make a positive contribution to your team while growing my skills in the field.

Throughout my academic career, I focused on courses related to property management, finance, and marketing. My internship at XYZ Real Estate exposed me to various aspects of property management, such as tenant relations, property maintenance, and budgeting. This experience, combined with my formal education, has provided me with a solid foundation in property management principles and practices.

I pride myself on being a detail-oriented and proactive problem solver with strong interpersonal skills. During my time at the university, I held various leadership positions in student organizations and excelled at working in a team-oriented environment. Additionally, my part-time customer service job at ABC Company has reinforced my communication and people skills, which I believe are essential for a successful property manager.

I am enthusiastic about the opportunity to join your company as an entry-level property manager and contribute to the continued success of your residential properties. Thank you for considering my application. I am eager to further discuss my qualifications and how I can be a valuable asset to your team during an interview.

[Your Name]

Networking/Referral Writing Style Example

I was thrilled to learn about the opportunity through my close friend and current employee, Jane Smith, who shared with me the positive work environment and growth opportunities within your company.

As a dedicated professional with over seven years of experience in the property management sector, I am confident in my ability to successfully manage and maintain your properties efficiently and effectively. My wide-ranging skills include tenant relations, financial management, staff supervision, and property maintenance, all of which are essential for this role.

Jane and I have been working together for more than three years at our current property management firm, XYZ Property Management. Over this time, we have developed a strong professional relationship and have successfully collaborated on various projects. Jane’s high regard for your company and her direct recommendation have only further assured me that joining your team would be a great fit for both of us.

Should I be given the opportunity to contribute to your organization, I am confident that my hands-on approach to property management, strong work ethic, and dedication to client satisfaction will bring immense value to your team. Thank you for considering my application.

I look forward to the opportunity to discuss my suitability for the position further during an interview.

Enthusiastic/Passionate Writing Style Example

Having meticulously researched your company’s reputation as an industry leader, it is clear to me that the opportunity to join your team would be a career-defining moment for me.

As a dedicated and highly motivated individual, I am excited about the prospect of managing properties with the utmost professionalism and efficiency. My extensive experience in property management coupled with my passion for ensuring tenant satisfaction make me confident that I am the ideal candidate for this role. I have effectively managed a diverse range of properties, from residential to commercial, consistently exceeding performance benchmarks.

Throughout my career, I have excelled in nurturing tenant relationships and delivering high-quality property maintenance services. My ability to prioritize tasks and manage multiple projects simultaneously has earned me a reputation as a reliable and adaptable professional among my peers. Additionally, my background in sales and marketing has allowed me to develop the necessary skills to lease properties quickly and drive revenue growth.

What truly excites me about this position is the unique platform it offers to fulfill my passion for delivering exceptional property management services while collaborating with a team that shares my drive for excellence. This role represents the perfect intersection of my professional experience and personal aspirations, both of which contribute to my unwavering commitment to ensuring your organization’s continued success.

Thank you for considering my application. I am eager to discuss the value I can bring to your company as Property Manager and would be grateful for the opportunity to join your talented team. I look forward to the possibility of working together!

Problem-Solving Writing Style Example

Having researched your company diligently, I understand that one of the primary challenges faced in the property management industry today is the difficulty in maintaining high occupancy rates as well as ensuring proper maintenance and financial stability of the properties under your purview. As an experienced property manager, I believe I possess the skills and drive required to meet these challenges head-on, and contribute significantly towards your company’s continued success.

In particular, I have developed strong marketing and tenant relations skills, which have consistently resulted in high occupancy rates and minimal tenant turnover in my previous roles. By constructing comprehensive marketing strategies and fostering long-lasting relationships with tenants, I was able to achieve over a 95% occupancy rate for three consecutive years at my previous job. Further, my strong interpersonal skills allowed me to address tenant concerns and disputes effectively, creating a harmonious living environment and ensuring tenant satisfaction.

In addition to these skills, my attention to detail and financial acumen have been crucial for maintaining properties in excellent condition while adhering to tight budgets. I continuously assess properties to identify areas in need of repair or improvement and proactively address these concerns to prevent more complex and costly issues from emerging.

Furthermore, my certification in Property Management and experience in implementing property management software solutions will ensure a smooth and efficient operation, enabling your company to stay ahead of industry trends and providing a superior level of service to both property owners and tenants.

I am eager to deploy my skills and experiences as a Property Manager at your esteemed organization and help tackle the challenges it faces, ensuring a positive impact on the growth and success of the company. I look forward to discussing my application further during an interview.

Storytelling/Narrative Writing Style Example

As I strolled through the vibrant neighborhood of my first apartment, the scent of freshly brewed coffee and the sound of laughter from nearby cafes filled the air. It was in that very moment that I realized the profound impact a well-managed property could have on its residents and the surrounding community. This realization ignited a passion within me that has only grown stronger throughout my professional journey, leading me to pursue a career in property management.

With over six years of experience in the real estate industry, I have honed my skills in tenant relations, property maintenance, and financial management. At my previous role as an Assistant Property Manager, I successfully managed a diverse portfolio of residential and commercial properties, ensuring their profitability and maintaining a high level of satisfaction among tenants.

One particular experience that stands out to me is when I faced a challenging situation involving a tenant who was struggling to make timely rent payments. Instead of resorting to eviction, I took the time to understand their circumstances and worked out a mutually beneficial payment plan. This not only saved the tenant from eviction but also preserved a positive relationship between the tenant and our management team. I believe this empathetic approach is essential in managing properties and building harmonious communities.

I am confident that my passion for creating thriving communities, combined with my hands-on experience and strong interpersonal skills, make me an ideal candidate for the Property Manager role at your organization. I am excited about the opportunity to contribute to the growth and success of your properties, and I look forward to discussing my qualifications further.

Thank you for considering my application.

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What is a Property Management Report: Types & Examples

Property management reports are crucial tools for property owners, investors, and property managers in the world of real estate. 

They provide a comprehensive overview of a property's performance, financial status, and operational efficiency. 

In this blog, we will talk about property management reports and owner reports. And even provide a template for a monthly property management report.

What is a Property Management Report?

A property management report is a detailed document that offers a complete view of a property. It serves as an indispensable resource for those involved in property management, and so they can assess the overall condition of their real estate assets.

One of the primary components of a property management report is the income and expense statement. 

This financial document provides a snapshot of the property's financial health by outlining its income sources and expenditure. It's a vital part of the report as it enables stakeholders to understand the property's profitability and make informed decisions.

What Should a Property Management Report Include?

A well-structured property management report should encompass several key components, to comply with the owner statements,

Let's take a closer look:

• Executive Summary

The executive summary is the gateway to the report, offering a concise overview of its contents. It highlights key findings, performance metrics, and noteworthy accomplishments or challenges. It serves as a quick reference point for busy property owners and managers.

• Property Overview

The property overview section provides essential information about the property. This includes details such as its location, type (e.g., residential, commercial), size, and any unique features or amenities. This section sets the stage for the rest of the report, offering context to the reader.

Financial Performance

The financial performance section is where the income and expense statement takes center stage. Here, you'll find details on the property's income sources, total income, and a breakdown of expenses. It also covers crucial financial ratios that assess the property's financial health and profitability. Timely and proper data entry is imperative here to create accurate reports.

• Occupancy and Lease Information

This section provides insights into the property's occupancy status. It includes lease expiration dates, tenant turnover rates, and any pending lease negotiations. By examining this data, property managers can identify potential vacancies and lease renewal opportunities.

• Maintenance and Repairs

The maintenance and repairs section covers all activities related to the property's upkeep. This includes work orders, repairs, and preventive maintenance. It also highlights any significant issues, ongoing projects, or capital expenditure requirements.

All the adjustments included in a property.

• Marketing and Advertising

Effective marketing is key to attracting and retaining tenants. The marketing and advertising section focuses on the strategies employed to achieve this. It assesses the effectiveness of marketing initiatives and identifies areas for improvement.

• Tenant Satisfaction and Feedback

A property's success often hinges on tenant satisfaction. This section captures tenant feedback, surveys, and satisfaction ratings. This data helps gauge tenant experience and identifies areas for improvement in property management services, always in timing and report access.

What are the Types of Management Reports?

Property management reports come in various types, catering to different needs and stakeholders. Some common types include:

Rental owner cash report: These reports zero in on the financial aspects of the property. They include income and expense statements, balance sheets, cash flow statements, and rent rolls. These documents offer a comprehensive financial overview.

Operational Reports: Focusing on day-to-day operations, these reports include account ledger reports and maintenance logs. They provide insights into the property's operational efficiency.

Occupancy Reports: These reports offer insights into occupancy rates, leasing activity, tenant demographics, and turnover. They are invaluable for property managers and investors.

Budget and Other reports: By comparing actual financial performance against budgeted amounts, these reports highlight variances and explain the reasons behind them. They are essential for assessing financial planning effectiveness.

Monthly Property Management Report Template

For property managers and operating statement, consistency is key. A monthly property management report template can be a valuable resource. Such a template typically includes the following sections:

• Financial Performance (including total income and total expenses)

Within each section, relevant data, metrics, and analysis are provided, giving a comprehensive snapshot of the property's performance.

In conclusion, property management reports are essential tools in the real estate industry. They provide a clear picture of a property's performance, aid decision-making, and enhance property management practices. 

Accurate financial reporting at the right time and with correct and timely data is necessary to make good decisions for the property management administration.

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Real estate sales training has evolved from a rarely offered luxury to a necessity that new sales associates have grown to expect and the complexities of today’s market require. I have helped many applicants to MBA programs with a real estate focus, as well as drafting Personal Statements for Certificate Programs.

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Master's Degree in Real Estate Sample Statement of Purpose, Focus on Construction

I have extensive experience at construction and facilities management and design and I have also been exposed to the legal aspects of real estate in both my professional career and as a volunteer. In your MPS Real Estate Program, I look forward to studying and learning from world-class professionals in my field and from all over the world. I feel strongly that this is the right time for me to go to graduate school since even before I was recently laid off due to downsizing I felt stagnant in my position with the company and have been preparing a return to graduate school for the past two years. A 47-year-old single parent, I want to be an exceptional role model for my children and lead by example in giving one’s all. I have the experience, the drive, and the finely-honed skills that will enable me to excel as a Masters student.  As an undergraduate, I attended two colleges and juggled 4-part-time jobs all at the same time, paying for my own education.  A lifelong learner, I believe in investing in myself whether it is through education, volunteering or being onboard with company culture initiatives.

As a facilities space planner for a large corporation, cost-effective design has long been my top priority.  This experience will help me to excel in your MPS RE Program at XU. I am hungry to build new relationships and advance my professional networks through contact with professors, my classmates, some of whom will turn into future colleagues, new connections with the leaders in real estate of tomorrow. Georgetown is perfect for me because of the extensive focus given to construction management as an integral part of your real estate program along with your stellar treatment of sustainability and the impact of globalization on real estate markets.

What I most enjoy is helping corporations manage construction, particularly in terms of managing space efficiently.  I do it well.  This is where I hope to make my professional mark in life and with the help of Georgetown, become a master at acquiring and disposing of space as well as managing it. In my professional position I have been privy to sensitive information and signed many non-disclosures statements. I have learned that privacy is extremely important, keeping the information confidential, and this is particularly true when it comes to closing down or relocating a business location. This situation has given rise to my most troubling ethical dilemmas because I wish that associates and employees could be given more notice before a location is closed.  However, on the business side, I realize the difficulties that could occur if this information is disclosed too early. I have also had to wrestle with thorny ethical issues in my volunteer work.

Perhaps because of the fact that I am a Latina originally from Bolivia and a native speaker of Spanish, I feel compelled to help more recent arrivals to the USA with their legal issues, giving something back to my people. So, I regularly volunteer in a legal aid clinic where I am the go-between with the attorney and his clients.  I interpret from English to Spanish in legal matters such as family law, real estate law, and corporate law.  I am privy to a lot of private information, and it is my job not to disclose and to keep client-attorney confidentiality by keeping the client’s personal information private, which I always do. Over the years I have learned that it requires rigid adherence to professional ethics, integrity, and strong boundaries to protect both owner and client information. 

As a survivor of officer-involved domestic violence (OIDV), I would take special delight in the future in constructing multifamily residential environments designed for survivors and their children.  I know firsthand that, legal, educational, and financial empowerment along with counseling are the stepping stones to surviving domestic abuse situations. My goal is to provide safety for OIDV survivors and their children in an area that is often neglected.  Shelter!  I dream of developing housing for these survivors, too long ignored. Having beautiful children ages 9 and 15 who are also survivors of OIDV and growing up in a single-parent household, I have always tried to compensate by teaching my children that learning is a lifestyle.  My background and life experiences energize me to continue learning for the balance of my life about construction management. Graduating from Columbia College with a Bachelors in Fine Art and a focus on Interior Architecture, I learned early on the value of hard work and perseverance. 

I mentor up to 5 women providing motivation and emotional support to single mothers, survivors of domestic violence, and those seeking employment. Listening, mentoring, and motivating 2 survivors of domestic violence with individual needs, conveying positive feedback to enrich their lives. I have great listening skills as I mentor and motivate women survivors of domestic violence and women seeking employment, often resulting in positive transformations.

I have also distinguished myself as a volunteer in Odessa & Kiev, Ukraine, making multiple trips, the second one for 7 weeks caring for orphans housed in orphanages, bringing medical supplies, especially nebulizers for children with asthma. This was personal since my kids and I have asthma, I wanted to make sure that other children who needed a nebulizer had one as well. Plus, I personally brought the kids winter hats, comic books for boys, and headbands for girls.  Headbands for the girls was special in my eyes since their hair was always shaved to prevent lice I wanted a way for them to still look and feel like a girl.

Very recently, I was laid off from my previous employer Sears Holdings Corporation in a mass layoff.  There have been several mass layoffs over the last few years due to Sears no longer being relevant to the millennial market.  Therefore, I have taken this as an excellent opportunity to invest in myself, my education, and my advancement in the corporate real estate world.  I am confident I will do well at in the part-time online program, XXXX University School of Continuing Studies Master’s Professional Real Estate, as I seek a stronger professional network and foundation while adding to my current corporate real estate successes.  My curiosity to advance my education stems from being a facilities project manager who sat next to the COO; who has since retired.  There, I had many opportunities to listen and learn more about corporate real estate.  Listening and learning helped me to confirm my love for this career path. In search of an opportunity to continue my education, to enhance my capacity, I see XXXX University School of Continuing Studies as my path to reaching my stars. 

I am convinced that I will be able to distinguish myself at XXXX in design and construction project management which is what I most enjoy within the corporate real estate asset management sector.  My goal is to become a Construction Management professional and to also learn everything that I can about acquiring, and disposing of the space.  At some point, I also hope to rise to the level of Managing Director in a Corporate Real Estate environment.  I have always dreamt of living in Washington DC and someday going to XXXX University.  Even though now I am applying to the online program, I look forward to attending a few classes in DC and even going abroad for the one class that focuses on Germany: “Exploring Opportunities in Europe.” I see myself up to this point as a “sandwich generation” caring for my aged parents as well as my children. Now, however, my circumstances are such that I am able to devote myself to real estate full time, eating, sleeping, and breathing my studies so as to forge ahead in new directions and advance as never before as a full-fledged professional.

I thank you for considering my application to Real Estate at XXXX.

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Sample 1st 2 Paragraphs for the BSc. Degree in Real Estate, Indian Applicant

The strongest part of my application is my extensive experience in real estate in my native India, Bangalore. Now 41, I have been active in real estate for almost 20 years. From 2007 through 2010, I designed, built, and sold my own 10.5 acre villa project comprised of 70 exclusive villas ranging from 1500-2200 square feet. I was the first to introduce custom built Kerala style villas at affordable pricing in Bangalore. I am pleased to report that these villas are also now worth approximately 300% of the sale price in 2007. 

When writing your personal statement for a certificate or Masters Degree program in real estate, therefore, one good strategy is not to focus so much on your life story but, rather, to discuss what it is that you are very excited about learning, concrete, specific skills that will enable you to excel as a real estate professional. It is very important that you review the style and presentation of your material before submitting it. Seeking the assistance of a professional writer is often a very good idea, especially if English is your second or third language. I would be happy to draft the first paragraph free of charge so that I have the opportunity to demonstrate to you how I can help in this regard. You will only need to pay for my services if you are very impressed with the first paragraph and decide to commission me to draft the entire statement.

I will provide you with a highly eloquent Statement that portrays you as someone with enormous potential to contribute to the advance of the real estate profession over the long term. After you fill out my  Online Interview Form , I will ask you some specific questions by email if I need any further information. Please also send your resume/CV and or rough draft if you have one.

The Humanitarian Side of Real Estate

Realtors have been giving back to their communities for decades. However, a new company is working with agents to provide a different kind of service: building homes for people in need.

The company, Giveback Homes, aims to turn the real estate community into a humanitarian community by allowing realtors to donate part of their commission toward building homes for those who cannot afford them.

“By creating a trusted network of real estate agents, mortgage brokers and interior designers who want to do good, we can build homes for families in need while giving our members an inspiring way to stand out in a competitive industry,” says Giveback Homes founder Blake Andrews. He began his humanitarian work with TOMS shoes.

Many years ago, Andrews approached Blake Mycoskie, a friend and the founder of TOMS, and asked if he could work at TOMS to learn about social entrepreneurship.

Mycoskie agreed. Andrews spent 3 years working for TOMS, and during that time, he went on a Global Village trip to Nicaragua, where he saw the impact a pair of shoes had on a child’s life and thought, “what would happen if you give them a home?”

“What initially started as my first trip became my life mission,” says Andrews. “I was there to get shoes on children’s feet. But I was more worried about putting a roof over their head. The TOMS model involves giving one pair of shoes to people in need for every pair of shoes they sell. I started to think about how I could create a similar one-for-one model with houses.”

Andrews trip to Nicaragua became the inspiration for becoming a social entrepreneur and founding Giveback Homes. “Since realtors are already in the business of homes, I thought there might be a way to sync the two,” says Andrews. “That’s how Giveback Homes was born. People in the real estate community can sign up to become a member and for every home they sell, they can pledge any amount to help build a home for a family in need.”

So here’s how it works: a member of the real estate community pays $50 a month to become a Giveback Homes member; when they sell a house they can donate any portion of their commission to Giveback Homes. 100 percent of their donation goes to the build of a home. Once someone is a member, they receive a digital package so they can use the Giveback Homes logo in advertising and on business cards as a way to differentiate themselves from other realtors.

Realtors are testifying that homebuyers and sellers have chosen to work with them over other realtors because they are a Giveback Homes member. Giveback Homes collaborates with Habitat for Humanity to build homes in Nicaragua, LA and soon in Dallas, too.

The company began building in Nicaragua, and have since raised over $45,000 and built 10 homes in a period of six months. They recently began expanding into Los Angeles and Dallas.

Giveback Homes’ first Habitat for Humanity build in the U.S. took place recently in the City of Lynwood, CA, where HFH GLA is currently constructing seven new homes.

On site, Giveback Homes’ members teamed up to participate in a full day of building activities to work towards creating a brand new affordable and sustainable home for a local, very hardworking, low-income family.

More than 30 generous real estate agents gathered at the construction site in Lynwood, CA, to donate their day, along with a dozen Habitat for Humanity crew members, who acted as mentors. The Lynwood homes were expected to be complete by November 2014. Giveback planned to come back and be with the family as they move in.

However, it’s not only the families of new homes that are reaping the benefits of the give-back model. “From the perspective of real estate agents, they need a way to differentiate their brand amongst local homebuyers and sellers and align with positive stories within the community,” says Andrews. “Naturally, giving back is a great way to accomplish that.”

Andrews notes that Giveback Homes’ members are attracting new clients solely because they are members—since homebuyers and sellers are inclined to work with a realtor who gives part of their commission to those in need, this helps realtors acquire new clients,” Andrews explains.

The company arms their members with tools to tell their story to potential homebuyers. They provide letters and photos from the families with new homes to demonstrate where the contributions are going.

“We are the first organization to create a sustainable relationship between real estate professionals and families in need of a safe home,” says Andrews.

In April, 2013, Giveback Homes broke ground in Dallas with Habitat for Humanity and the local realtor community. Realtors and mortgage brokers can apply for the opportunity to join the movement, give back and experience the tangible results of their contribution.

The company invites anyone interested to visit www.givebackhomes.com to apply to become a member and learn more about their program.

Realtors have more power than they might imagine. Joining an organization like this, or organizing your own humanitarian work is satisfying, and improves our world little by little. If you´re thinking of studying further in this field or need documents for an internship or other application, please don´t hesitate to let us know, because we´d love to help you.

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9 Property Manager Resume Examples to Get a Job in 2024

Property Manager

Best for senior and mid-level candidates

There’s plenty of room in our elegant resume template to add your professional experience while impressing recruiters with a sleek design.

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Property Manager Resume

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As a property manager, you’re always on the career move. Whether you’ve just completed a BA in real estate or you manage 10+ properties, you’ve come to the right place for the best resume tips  and know-how when it comes to  writing a resume and making a cover letter . 

We’ve researched and reviewed countless resumes and have discovered what it takes to write a successful property manager resume in 2024.

These property manager resume samples are helping property managers secure interviews at small and large-scale companies across the country. There’s no reason they can’t do the same for you!

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Why this resume works

• Numbers! This is important because hiring managers only review property manager resumes for 6 to 7 seconds on average before deciding whether it’s worth a closer look.
• Use numbers to both: Highlight key information quickly and keep hiring managers’ eyes on your resume longer.
• Include metrics about tenant occupancy, the number of units you manage, demonstrable efficiency and organization, finances and money saved through negotiations, marketing, and the number of staff you work with or manage.
• Property management is a diverse world. If you have experience in multiple types of property management (such as multifamily, single family, HOA, or commercial), highlight it. This will demonstrate your adaptability.

Assistant Property Manager Resume

• Think about the property management job description you read. Many ads list these skills as essential job qualifications. 
• That means they’re critically important for the job and likely to be picked by hiring managers for applicant tracking systems (ATS). If your skills section doesn’t include the skills selected by hiring managers, the ATS will decline your resume automatically.
• For example, working in the service industry allows you to emphasize attention to detail, customer service, efficiency, and problem-solving skills.
• You can make nearly any work experience relevant if you show transferable skills.

Entry-Level Property Manager Resume

• How? Use metrics to demonstrate you can handle more responsibility.
• For example, if you’ve interned, mention the number of units you helped manage, the number of people in those units, the coworkers and contractors you collaborated with, efficiency in administrative work and in addressing complaints, money you saved the company through negotiated contracts, unit occupancy, survey or review results, etc.
• It’s a helpful place to state why you’re a worthy candidate if you’re seeking your first role or are changing careers.
• However, if you include an objective, specialize it for each job you apply to, including the job title, essential skills, and the company name mentioned in the job description.

Senior Property Manager Resume

• You can even add any subjects that you specialize in. Take Frank’s senior property manager resume for example and see how he cleverly adds his major in real estate and the built environment to highlight his expertise in real estate knowledge.

Apartment Manager Resume

• List down skills such as Yardi Voyager to create quantified bullet points and state your expertise in conducting market research to stay up to date with local estate and setting competitive prices for attracting tenants.

Regional Property Manager Resume

• Implementing workflow automation software shows that you are comfortable adapting to new technologies that will optimize operations—a necessary aspect of real estate management.

Commercial Property Manager Resume

• Make sure your commercial property manager resume emphasizes your ability to work well with everyone from tenants to stakeholders if you want an edge in the job hunt.
• Further that line of thought with the details of your approach, the how, and the why in your property manager cover letter .

Affordable Housing Property Manager Resume

• The biggest issue faced by affordable housing managers is staying out of the red. So, highlight any grants you’ve applied for and received, ways you’ve saved the company, savvy contract negotiations, certifications and training, and the ability to follow all laws.
• We may be sounding like a broken record, but it’s crucial to use quantifiable facts in this field. You’ve got to be on top of law compliance, customer service, repairs, certifications, finances, and time management. Numbers will illustrate this effectively.

On-Site Property Manager Resume

• Use concrete numbers rather than abstract language, use active voice, and start sentences with strong action words. And be sure to avoid excess filler words.
• Hiring managers (subconsciously or not) look for confidence in job applicants. Workers with higher confidence tend to set higher goals, work harder, and inspire others to do the same. It’s no wonder hiring managers gravitate toward confidently written resumes.
• While what you write matters, make sure the appearance exudes confidence, too. Try our  free resume templates , and if you prefer working in a word processor, our  Google Docs resume templates  and  Word resume templates  might be what you need. 
• If you feel like you’re trying to drink water from a fire hydrant, don’t stress. Start on solid footing with our  resume tool  to edit yours in real-time and ensure you’re ready for your next property management job.

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Real Estate Finance and Investment Personal Statement

Example Real Estate Finance and Investment Personal Statement

Having been fascinated by real estate for many years, I am highly focused on pursuing a career in international property investment. My work experience and undergraduate studies to date have been targeted at preparing myself for this career. Now I wish to take another decisive step down this path by studying a Master’s in real estate finance and investment. Through doing so, I intend to acquire a high level of theoretical and practical level of expertise in the financial, economic, legal and management aspects of real estate, ranging from portfolio risk management and valuation techniques through to debt finance and international property law.

One of the aspects of real estate that most interests me is its unique nature as a category of investment. When compared with other forms of investment, for example commodities, shares or direct investment in a business opportunity, investing in property is grounded in a unique set of factors, all of which must be understood by the investor if they are to make the returns that they seek. Successfully investing in property therefore requires a different skillset relative to investment in these other types of assets. I am also particularly interested in how, in the context of today’s economic instability, real estate investment has developed relative to other forms of investment, both with regard to the role played by real estate in contributing to the current crisis and additionally the way investment in property has changed as a result of the global downturn. [T1]

I have always applied the best of my talents to my school and university studies, and have enjoyed the rewards of the excellent results that this commitment has afforded me. After being awarded a prestigious Spanish Embassy award to study at the Miguel de Cervantes School in Sofia, I went on to graduate with an outstanding overall grade of 5.96.Whilst at school, I also took the opportunity to gain an initial grounding in business principles by studying for a Certificate in Management at the National Management School for Undergraduates, also in Sofia. The certificate generated my first interest in the world of real estate through my completion of a case-study project that examined a residential development as an investment opportunity. I was fascinated by the different factors that have to be taken into consideration when making a real estate investment decision, and thoroughly enjoyed the research, forecasting and analysis work that went into the project.

My time at the Miguel de Cervantes School, where the language of instruction is Spanish, marked the beginning of what has been a multi-lingual, international education. In 2006 I began a BA in International Business with Spanish and French at the European Business School, which I completed in 2010 with a high 2:1, having been in the top five percent of my cohort in my first year. I greatly valued the opportunity that this degree gave me to delve deeply into the fields of management, finance, marketing and corporate strategy, as well as giving me rigorous training in vital numerical skills such as financial mathematics and the application of game theory. I particularly enjoyed the international aspects of the course, which allowed me to gain an understanding of business from a comparative and international perspective, something which I regard as vital, especially given my interest in international real estate. In addition to the course having an overall international focus, I also carried out two international study placements, at the Universidad Autnoma de Barcelona and the Institut Suprieur du Commerce in Paris.

My post-university professional career and some of the internships that I took whilst I was an undergraduate have entailed working directly in the real estate sector, and have accordingly helped me to gain a more in-depth understanding of this complex world. At present I work in marketing and administration at a residential property sales and rental company in London. With the company operating in the most exclusive residential areas of the capital, the post has provided an absorbing insight into one of the most dynamic property markets in the world, especially with regard to understanding residential properties as an investment. My responsibility for maintaining the firm’s property database in particular has been invaluable in accumulating an advanced understanding of the London property market. I have also had the opportunity to be involved with business analysis, an area which I find fascinating, as well as learning the ropes of property management through assisting the lettings department.

I have also completed internships at two different companies in Bulgaria, which helped to give me an insight into the investment side of property development. In 2008 I carried out a placement at an investment fund, where I worked as part of a team on the market research and analysis of a proposed property development on the Bulgarian coast. My involvement in this helped me to learn about the complexities of the processes that lie behind property investment decisions, and also gave me an awareness of the financial risk factors associated with property development. The previous year I worked at AG Capital, the largest property company in Bulgaria. This first work experience in the property sector gave me an excellent overview of the many different sectors with which property companies are involved, the different clients with which they work and the overall economic significance of the real estate sector.

Other work placements that I have completed have given me a more general exposure to the business and financial sectors, equipping me in the process with management and analytical skills that I believe will be essential for a career in real estate. In 2010 I worked for a large business services company in London, where I was responsible for managing client relationships. This post gave me an experience of managing the sometimes conflicting demands of different stakeholders, as well as requiring me to develop excellent communication skills to help facilitate productive business relationships. In 2009 I completed an internship at a spirits distribution company based in Sofia.Based in the marketing side of the business, my negotiation skills were honed through working with potential promotional partners.

All my work experience, whether in real estate or other sectors, have helped build in me a strong work ethic, excellent analytical skills, an ability to work under pressure, and a strong desire to succeed in an international business environment. After completing a master’s in real estate finance I hope transfer these skills, along with the expertise gained through the master’s, to work in the field of property valuation within wither a global property consultant or within an investment bank.

This example Real Estate Finance and Investment personal statement is designed to provide you with inspiration when writing your own personal statement.

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Property manager CV example

To land a rewarding property manager role, you’ll need an exceptional CV.

Your property manager CV needs to combine a mixed set of soft skills and technical knowledge, to prove your expertise to employers.

In this guide, we provide you with a sample property manager CV and also bring you insightful ideas about how to write a property manager CV that secures interviews.

Guide contents

Property manager CV example

• Structuring and formatting your CV
• Writing your CV profile
• Detailing work experience
• Your education
• Skills required for your Property manager CV

CV templates 

The above CV example demonstrates the type of info you should be including within your Property manager CV, as well as how to display this information in a way which looks professional and is easy for time-strapped recruiters to read.

This is the standard you should be aiming for, so remember to refer back to it throughout the CV writing process.

Property manager CV structure and format

If you focus on the written content of your CV but ignore how it actually looks, your efforts could end up wasted.

No matter how suitable you are for the role, no recruiter wants to spend time squinting and trying to navigate a badly designed and disorganised CV.

Instead, make sure to organise your content into a simple structure and spend some time formatting it for ease of reading – it’ll get you in recruiter’s good books from the get-go!

Formatting Tips

• Length: Recruiters will be immediately put off by lengthy CVs – with hundreds of applications to read through, they simply don’t have the time! Grabbing their attention with a short, snappy and highly relevant CV is far more likely to lead to success. Aim for two sides of A4 or less.
• Readability : Recruiters appreciate CVs that they can quickly scan through without trouble. Ensure yours makes the cut by formatting your headings for attention (bold or coloured fonts should do the trick) and breaking up long paragraphs into smaller chunks or short, snappy bullet points.
• Design: The saying ‘less is more’ couldn’t be more applicable to CVs. Readability is key, so avoid overly complicated designs and graphics. A subtle colour palette and easy-to-read font is all you need!
• Avoid photos: Logos, profile photos or other images aren’t necessary and rarely add any value – save the space for written content, instead!

Structuring your CV

When writing your own CV , break up your CV content into the following key sections:

• Name and contact details – Place them at the top of your CV, so that employers can easily get in touch.
• CV profile – A punchy sales pitch of your key experience, skills and achievements to reel readers in.
• Core skills section – A bullet-pointed snapshot of your abilities.
• Work experience – A well-structured list of your relevant work experience.
• Education – An overview of any relevant qualifications or professional training you have.
• Hobbies and interests – A short description of any relevant hobbies or interests (optional).

Now I’ll guide you through exactly what you should include in each CV section.

CV Contact Details

Kick-start your CV with your contact details, so recruiters can get in touch easily. Here’s what you should include:

• Mobile number
• Email address – Make sure it’s professional, with no silly nicknames.
• Location – Your town or city is sufficient, rather than a full address.
• LinkedIn profile or portfolio URL – Ensure they’ve been updated and are looking slick and professional.

Quick tip: Avoid listing your date of birth, marital status or other irrelevant details – they’re unnecessary at this stage.

Property manager CV Profile

Recruiters and hiring managers are busy, so it’s essential to catch their attention from the get-go.

A strong introductory profile (or personal statement , for junior candidates) at the top of the CV is the first thing they’ll read, so it’s a great chance to make an impression.

It should be a short but punchy summary of your key skills, relevant experience and accomplishments.

Ultimately, it should explain why you’re a great fit for the role you’re applying for and inspire estate agents to read the rest of your CV.

Tips for creating an impactful CV profile:

• Keep it brief: Recruiters are busy, so to ensure your profile is actually read, it’s best to keep it short and snappy. 3-5 punchy lines makes for the perfect profile.
• Tailor it: If recruiters don’t see your suitability within a few seconds, they may close your CV straight away. Your CV profile should closely match the essential requirements listed in the job ad, so make sure to review them before you write it.
• Don’t add an objective: You only have a short space for your CV profile, so avoid writing down your career goals or objectives. If you think these will help your application, incorporate them into your cover letter instead.
• Avoid cliches: If your CV is riddled with clichès like “Dynamic thought-leader”, hit that delete button. Phrases like these are like a broken record to recruiters, who read them countless times per day. Hard facts, skills, knowledge and results are sure to yield far better results.

What to include in your Property manager CV profile?

• Summary of experience: Recruiters will want to know what type of companies you’ve worked for, industries you have knowledge of, and the type of work you’ve carried out in the past, so give them a summary of this in your profile.
• Relevant skills: Make your most relevant Property manager key skills clear in your profile. These should be tailored to the specific role you’re applying for — so make sure to check the job description first, and aim to match their requirements as closely as you can.
• Essential qualifications: Be sure to outline your relevant Property manager qualifications, so that anyone reading the CV can instantly see you are qualified for the jobs you are applying to.

Quick tip: If spelling and grammar are not a strong point of yours, Use our quick-and-easy CV Builder to add pre-written content that has been created by recruitment experts, and proofread by our team.

Core skills section

In addition to your CV profile, your core skills section provides an easily digestible snapshot of your skills – perfect for grabbing the attention of busy hiring managers.

As Property manager jobs might receive a huge pile of applications, this is a great way to stand out and show off your suitability for the role.

It should be made up of 2-3 columns of bullet points and be made up of skills that are highly relevant to the jobs you are targeting.

Work experience/Career history

By this point, employers will be keen to know more detail about you career history.

Starting with your most recent role and working backwards, create a snappy list of any relevant roles you’ve held.

This could be freelance, voluntary, part-time or temporary jobs too. Anything that’s relevant to your target role is well-worth listing!

Structuring your roles

The structure of your work experience section can seriously affect its impact.

This is generally the biggest section of a CV, and with no thought to structure, it can look bulky and important information can get lost.

Use my 3-step structure below to allow for easy navigation, so employers can find what they are looking for:

Start with a solid introduction to your role as a whole, in order to build some context.

Explain the nature of the organisation you worked for, the size of the team you were part of, who you reported to and what the overarching purpose of your job was.

“At this leading Estate Agents I am fully responsible for managing the private rented sector (PRS) portfolio which is set to expand greatly over the next 5 years to become one of the largest rental portfolios of it’s kind

Key responsibilities

Use bullet points to detail the key responsibilities of your role, highlighting hard skills, software and knowledge wherever you can.

Keep them short and sharp to make them easily digestible by readers.

• Liaises between tenants, maintenance, contractors, chasing rent and outstanding invoices
• General administrative duties and keeps the line of communication open between other parties to continue the habitability of every property
• Responsible for booking inspections and inventory checks on properties before and after properties are inhabited by tenants

Key achievements

Finish off by showcasing 1-3 key achievements made within the role.

This could be anything that had a positive effect on your company, clients or customers, such as saving time or money, receiving exemplary feedback or receiving an award.

• Coordinated a tender for a new maintenance supplier, successfully acquired new supplier and saved the organisation 75% of annual budget 

At the bottom of your CV is your full education section. You can list your formal academic qualifications, such as:

As well as any specific Property manager qualifications that are essential to the jobs you are applying for. Note down the name of the qualification, the organisation at which you studied, and the date of completion.

Interests and hobbies

Although this is an optional section, it can be useful if your hobbies and interests will add further depth to your CV.

Interests which are related to the sector you are applying to, or which show transferable skills like leadership or teamwork, can worth listing.

On the other hand, generic hobbies like “going out with friends” won’t add any value to your application, so are best left off your CV.

Essential skills for your Property manager CV

Tailoring your CV to the roles you are applying for is key to success, so make sure to read through the job descriptions and tailor your skills accordingly.

However, commonly desired Property manager skills include:

• Supplier management: Detail your skills in effectively communicating with a vast range of different people from tenants to contractors.
• Organisational – Demonstrate your abilities with organisation and multi-tasking, showing how you streamline work through useful procedures and systems.
• Research and legal skills – Utilise examples of how you have used your legal knowledge and/or research skills to manage property within regulatory frameworks and business best practice.
• Customer service – Showcase your skills in customer service including availability, conflict resolution, dispute handling and prioritisation.
• Property knowledge – Demonstrate accurate knowledge of different property requirements, from inspections to core maintenance.

Writing your Property manager CV

An interview-winning CV for a Property manager role, needs to be both visually pleasing and packed with targeted content.

Whilst it needs to detail your experience, accomplishments and relevant skills, it also needs to be as clear and easy to read as possible.

Remember to research the role and review the job ad before applying, so you’re able to match yourself up to the requirements.

If you follow these guidelines and keep motivated in your job search, you should land an interview in no time.

Best of luck with your next application!

Real Estate Finance Personal Statement Examples

• 1 Personal Statement Example Links
• 2 Career Opportunities
• 3 UK Admission Requirements
• 4 UK Earnings Potential For Real Estate Finance
• 5 Similar Courses in UK
• 6 UK Curriculum
• 7 Alumni Network

Personal Statement Example Links

• Personal Statement Example 1
• Personal Statement Example 2
• Personal Statement Example 3
• Personal Statement Example 4
• Personal Statement Example 5

Interested in the dynamic world of real estate and finance? Fascinated by the intricacies of property valuation, investment analysis, and mortgage markets?

Pursuing a course in Real Estate Finance can equip you with the knowledge and skills to navigate the complexities of the real estate industry, making informed financial decisions and seizing lucrative opportunities.

Real estate finance is a field that requires a deep understanding of both finance and real estate principles. It is an area of study that can be both challenging and rewarding and can open up a wide range of career opportunities.

This course will provide students with an in-depth understanding of the principles and practices of real estate finance. Students will learn about the financial analysis of real estate investments, the financing of real estate projects, and the legal and regulatory aspects of real estate finance. Topics covered include mortgage and loan origination, financial statement analysis, debt and equity structures, and real estate taxation.

The course will also provide students with the opportunity to develop their skills in writing personal statements. Students will learn how to write a compelling personal statement that demonstrates their knowledge of the subject, as well as their enthusiasm and commitment to the field.

At the end of the course, students will be able to demonstrate an understanding of the principles and practices of real estate finance, and will be able to write a persuasive personal statement that will help them stand out in the competitive job market.

This course is ideal for those who are interested in pursuing a career in real estate finance, or who are looking to gain a deeper understanding of the field. With the knowledge and skills gained from this course, students will be well-prepared to pursue a successful career in real estate finance.

👍 When writing a personal statement: Highlight your passion for the course, demonstrating your understanding of it. Use relevant personal experiences, coursework, or work history to showcase how these have fostered your interest and readiness for the course.

Career Opportunities

Graduates of a Real Estate Finance course have a range of career opportunities available to them in the UK. These include:

• Real Estate Analyst : These professionals conduct financial analysis related to property investments, examining factors such as market trends, property valuation, and the feasibility of different investment strategies.
• Commercial Real Estate Broker : These brokers help clients buy, sell, or lease properties for commercial purposes. They need a thorough understanding of real estate finance to assess the profitability and risks of different transactions.
• Real Estate Investment Trust (REIT) Manager : These professionals manage portfolios of property investments on behalf of shareholders. Their role involves making decisions about property acquisition, finance, and development to maximize returns.
• Property Valuer : Valuers assess the value of properties for various purposes such as sales, rentals, insurance, and taxation. Their assessments are based on a variety of factors, including the property’s characteristics, location, and the state of the real estate market.
• Real Estate Consultant : Consultants advise clients on real estate investment decisions. This may involve conducting market research, analyzing financial data, and providing strategic advice.
• Mortgage Advisor : These professionals help individuals and businesses secure loans to purchase real estate. They need a detailed understanding of finance and real estate markets to find the best loan products for their clients.
• Property Development Project Manager : These professionals manage the process of developing properties, from the planning stage through to completion. This involves overseeing budgets, coordinating with contractors, and ensuring that projects meet financial objectives.

Remember that some of these roles may require additional qualifications or experience.

UK Admission Requirements

In order to be accepted into the University of Kent’s Real Estate Finance course, applicants must have achieved a minimum of a 2:2 in a relevant degree, such as a degree in economics, finance, or a related field. Additionally, applicants must have achieved a minimum of a grade C in GCSE Maths and English (or equivalent).

This entry criteria is similar to other universities offering the same course, such as the University of Reading’s Real Estate Finance course, which requires applicants to have achieved a minimum of a 2:2 in a relevant degree and a minimum of a grade C in GCSE Maths and English (or equivalent).

UK Earnings Potential For Real Estate Finance

The average earnings for someone with a degree in Real Estate Finance will vary depending on the individual’s experience, skills, and geographic location. Generally, the median salary for a Real Estate Finance professional in the UK is £45,000 per year.

In terms of trends in the job market, demand for Real Estate Finance professionals is expected to remain strong in the UK, with job openings expected to increase by 6% over the next decade. Additionally, as the UK economy continues to recover from the pandemic, there is likely to be an increase in demand for Real Estate Finance professionals due to the increased investment in the property market.

Similar Courses in UK

Other university courses related to Real Estate Finance include Property Investment and Development, Real Estate Economics, and Real Estate Law.

Property Investment and Development focuses on the practical aspects of real estate investment and development, such as financial analysis, investment strategies, and development processes. It also covers the legal, regulatory, and tax aspects of real estate investment.

Real Estate Economics explores the economic principles that underpin the real estate market, such as supply and demand, market structure, and pricing. It also covers the impact of government policies and regulations on the real estate market.

Real Estate Law covers the legal aspects of real estate transactions, such as contracts, leases, and mortgages. It also covers the legal aspects of land use, zoning, and environmental regulations.

The key difference between these courses and Real Estate Finance is that Real Estate Finance focuses on the financial aspects of real estate transactions, such as financing, investment analysis, and valuation. Property Investment and Development, Real Estate Economics, and Real Estate Law focus on the practical, economic, and legal aspects of real estate transactions, respectively.

UK Curriculum

The key topics and modules covered in a Real Estate Finance course typically include:

• Introduction to Real Estate Finance: This module will provide an overview of the fundamentals of real estate finance, including the principles of real estate finance, the various types of real estate finance, and the legal and regulatory frameworks that govern it.
• Investment Analysis: This module will explore the various methods of analyzing real estate investments, such as cash flow analysis, capitalization rate analysis, and return on investment analysis.
• Financing Structures: This module will cover the various types of financing structures available for real estate investments, such as mortgages, mezzanine financing, and equity financing.
• Risk Management: This module will cover the principles of risk management in real estate finance, including the identification and management of risks associated with real estate investments.
• Real Estate Markets: This module will cover the fundamentals of real estate markets, including the economics of real estate markets, the dynamics of supply and demand, and the role of real estate agents and brokers.
• Real Estate Valuation: This module will explore the principles of real estate valuation, including the various methods of valuation and the factors that influence value.
• Real Estate Development: This module will cover the fundamentals of real estate development, including the stages of development, the various types of development projects, and the legal and regulatory frameworks that govern development.

Alumni Network

One notable alumni from the course in Real Estate Finance is Robert Shiller, who is a Nobel Prize-winning economist and professor at Yale University. He is renowned for his work in the field of real estate finance, having developed the Case-Shiller Home Price Index, which is a widely used measure of housing prices in the US.

He is also the author of several books on the subject, including Irrational Exuberance and The Subprime Solution. Shiller has been a major contributor to the field of real estate finance and his work has had a significant impact on the industry.

The Real Estate Finance program at the university offers a number of alumni events and networking opportunities. These include alumni-hosted events, such as panel discussions, networking receptions, and career fairs.

The university also hosts an annual Real Estate Finance Alumni Reunion, which provides alumni with the opportunity to reconnect with former classmates and network with industry professionals. Additionally, the university offers an online alumni network, which allows alumni to stay connected with one another and stay up-to-date on the latest news and developments in the field.

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Free Property Management Templates

By Diana Ramos | October 24, 2017

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For property managers and landlords, maintaining accurate records is important not only for staying organized, but also for providing legal protection. Accurate property management forms can help you meet state and local requirements while also improving the flow of your business operations. And, efficiency and security contribute to a positive customer experience. To support your management process and your relationship with tenants, you can download free property management forms from the list below. Choose from 18 professional templates, including checklists, receipts, and property management agreement forms. These are generic templates designed to be customized for your specific needs, so it’s crucial to check state guidelines to make sure that whatever forms you are using follow proper legal requirements.

Property Management Templates

Property management spreadsheet - excel.

‌ Download Property Management Spreadsheet

Manage finances for multiple properties with this Excel template. The spreadsheet lists rental income and expenses so that you can quickly view which properties are most profitable. While this spreadsheet is designed for tracking financial data, you can easily modify it to include tenant details and other property management information.

Property Management Agreement Template

Download Property Management Agreement Template

Word  |  PDF

A property management agreement form provides a binding contract between a landlord and a property manager in order to protect both parties and provide clear expectations. This template provides a basic outline that you can edit to suit your specific needs. A typical agreement describes the property manager’s responsibilities, payment details, dates of service, and other terms.

Property Management Checklist Template

Excel  |  PDF

Having an organized checklist of tasks to follow can make the management process feel less overwhelming, reduce the chances of forgetting important duties — especially those that affect legal compliance — and keep your business operating smoothly. Anything that fosters good business practices can reinforce a positive reputation with tenants. Use this template as is, or adjust it to create your own comprehensive checklist.

Vacation Rental Property Management Checklist

Download Vacation Rental Property Management Checklist

This checklist template is specifically for vacation properties, allowing you to create a detailed list of duties, from marketing and leasing to cleaning and exterior maintenance. You may want to create separate checklists for seasonal responsibilities or keep administrative tasks separate from maintenance duties. No matter how you use the template, a simple checklist can help you stay on top of managing vacation rentals.

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Maintenance and Inspection Templates

Maintenance work order template - excel.

Download Work Order Template

Excel | Smartsheet

Use this maintenance work order template for repairs or routine maintenance projects. The template includes important details, such as the terms of service, the work description, itemized costs for labor and materials, and an approval signature. Keep copies of your work orders so that you have detailed records of maintenance issues and associated costs.

Maintenance Log Template

Download Maintenance Log Template

Record maintenance data in a running log in order to keep track of damages, repairs, and preventive maintenance. Issues may include updating household appliances, ordering repairs, or preparing a unit for new tenants. This simple log template can help ensure that you approve and complete maintenance requests in a timely manner.

Property Management Inspection Checklist

Download Property Management Inspection Checklist

Use this inspection checklist as a move-in or move-out form. Edit the checklist so that the list of items conforms to your property, and include any necessary move-out tasks, such as collecting keys or returning a security deposit. An inspection checklist can help keep you from overlooking items and can provide a comparison between the property’s move-in and move-out condition.

Commercial Property Inspection Checklist

Download Commercial Property Inspection Checklist

Designed specifically for commercial properties, this inspection checklist includes exterior and interior spaces, such as common areas and elevators. Depending on the size and type of building, you may need to add details to or remove details from the checklist. To meet safety standards for commercial buildings, include items such as emergency equipment, heating and cooling systems, and accessibility requirements.

Leasing Templates

Rental application template.

Download Rental Application Template

Excel    |    PDF

A rental application helps you collect and verify tenant information, including references and rental history. You can customize the template to include whatever instructions or disclosures you need. You can share this PDF application with prospective tenants via a website, an email, or a printed copy.

Tenant Reference Check Template

Download Tenant Reference Check Template

Excel  |  Word  |  PDF

This simple template can help you organize your process of checking references, ensuring that you’ve contacted all individuals and verified important questions. This form also makes it easy to compare applicants if you are choosing between multiple renters. 

Rent Receipt Template

Download Rent Receipt Template

Providing rent receipts and maintaining copies creates important documentation for both tenants and property managers. This Excel template has sections for listing landlord and property information, payment date and method, rental period, and more. Tenants may appreciate receiving a rent receipt for their own tax records or other purposes.

Security Deposit Receipt

Download Security Deposit Receipt

This receipt template includes landlord and tenant details, plus information regarding the terms of refunding a security deposit. If you want to include the terms described in a lease agreement, simply copy and paste that text into this Word template. Typically, you refund a security deposit to tenants upon their moving out, provided that the residents haven’t caused damages to the unit beyond the normal wear and tear.

Month-to-Month Rental Agreement

Download Month-to-Month Rental Agreement

A month-to-month rental agreement can provide flexibility for both tenants and landlords. Use this contract template to describe the terms of a month-to-month lease, including the cost of rent and the payment due date, the number of occupants allowed, and other agreements. The landlord and tenant sign the template to create a binding agreement. 

Lease Amendment Template

Download Lease Amendment Template

If you need to make changes to a lease, an amendment describes the updates and allows tenants to agree to the changes. As with any contract template, check your state laws or consult with an attorney to ensure that you are following proper guidelines when creating or changing a lease agreement. 

Lease Extension Template

Download Lease Extension Template

If a tenant and property manager decide to renew a lease that is ending, an extension agreement can briefly describe the continuing terms of the lease. It’s important to document these changes so that tenants receive clear communication and so that all agreements are in writing. This template provides a simple outline that you can modify for your specific needs.

Lease Termination and Tenant Vacancy Templates

Tenant to vacate form.

Download Tenant to Vacate Form

Tenants can use this form to notify landlords or property managers that they intend to move. Offering a notification in writing creates a record of the date of the alert and provides landlords with a tenant’s forwarding address and contact information. 

Notice to Pay Rent or Quit

Download Notice to Pay Rent or Quit

A notice to pay rent or quit informs tenants that the rent payment is overdue and serves as a warning that failure to comply will result in legal action. The notice provides instructions for paying the amount due (including any late fees) or vacating the property by a certain date.

Eviction Notice Template

Download Eviction Notice Template

An eviction notice provides tenants with a specific period of time, such as 60 days, to move out of a rental property. Rules related to evictions and the amount of time tenants have to vacate may vary in different geographical locations. Maintaining records of tenant evictions can provide documentation that you may need if the eviction process leads to legal proceedings.

What Is Property Management?

In its broadest sense, the term property management encompasses all the duties and responsibilities involved in the administration and oversight of real estate. We typically use this term in the context of managing rental properties. A landlord may take on these tasks independently, or hire a property management company to manage properties and tenants. In some geographical locations, the municipal government may require a landlord to use a property management company if said owner lives far from the apartment or home that they are renting out. Rules and regulations for property management companies vary depending on location, but many states require managers to have a real estate license in order to provide services. The various elements of property management include building maintenance, financial management, working with insurance companies, and consulting with attorneys to address legal issues. 

When it comes to the responsibilities associated with leasing properties, there is a tenant lifecycle that begins with attracting renters, continues with screening and retaining renters, and concludes with turning units around after tenants move out. For a quick overview of some common tasks related to this lifecycle, here is a partial list of property management responsibilities:

• New Tenants: Attracting new tenants includes setting appropriate rental rates, marketing the property with high-quality photos, advertising the unit online (including on your own website if possible), and hosting open houses. Once you have potential tenants, it’s time to undertake a screening process, which may include an interview, an application, a background check, and a reference collection. You will need to give new tenants a lease and any other agreements, and, after you collect a security deposit and rent payment, you’ll provide the tenant with keys. You will copy and retain all signed documents and complete any administrative tasks in order to update tenant information and verify payments.
• Current Tenants: When new tenants are going through the orientation process and signing agreements, make sure that you clearly state expectations to avoid issues later. Maintaining positive relationships with renters helps with tenant retention, which can save time and money. You should document for reference any communication or issue that arises with a tenant. Other ongoing tasks include performing routine maintenance on properties, dealing with repairs, collecting rent payments, and notifying tenants when it is time to renew a lease. 
• Tenant Turnaround: Hopefully, tenants will stay on top of payments and provide adequate notice when they decide to move. If not, you will have to provide warning notices to a tenant, which can ultimately lead to an eviction process. When tenants are moving out, you conduct an inspection to determine whether they are responsible for any needed repairs. Their portion of that responsibility determines the amount of their security deposit refund. As you prepare the unit for the next renters, tasks focus once again on attracting new tenants, thus, restarting the tenant lifecycle.

Management companies typically create and follow a property management policies and procedures manual in order to create consistency in business practices and establish clear guidelines for handling all of the tasks listed above, and more.

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Property management accounting basics: The definitive guide

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Published on November 15, 2022

Bookkeeping, collecting receipts, and managing your rent payments isn’t always the most exciting part of property management. But to run a successful business, you’ll need a well-oiled accounting system.

To get that system in place, we’ve created this guide to walk you through every step of the property management accounting process.

What you’ll learn in this guide:

• How to set up your accounting systems properly
• How to set up your bank accounts
• Tips and shortcuts to save you time and money
• Worry-free solutions that automate your bookkeeping

Let’s dive in!

Property Management Accounting: Article Guide

What is property management accounting, property management accounting terms you should absolutely know, property management accounting basics, trust accounting procedures, property accounting reports you should know, the accounting cycle, actionable tips: property management accounting best practices, essential property management accounting software features.

Property management accounting is the process of keeping track of the financial aspects of owning and operating rental or association properties, as well as any income or expenses related to the property or to your own business. That can include transactions such as rent collection, property taxes, insurance, repairs and more.

Is Property Accounting Difficult?

While there are nuances to property accounting, it’s no more difficult than any other accounting. There are, however, certain accounting actions that make property management accounting unique.

Staying on top of bookkeeping is incredibly important. It allows you to make better decisions about how you’re running your business and how you’re managing your clients’ properties. Getting property management accounting right saves you time throughout the year. It also prepares you for tax season and major financial events like quarterly meetings with owners or your HOA.

Bad fundamentals, on the other hand, can lead to missing tenant payments, miscalculating your cash flow, and even compliance issues that could lead to fines, all problems that will ultimately stifle your business growth.

What Does a Property Accounting Manager Do?

To make things easier, you can work with an accountant to handle the financial aspects of your business. They are in charge of accounting, asset management, and bookkeeping duties, to ensure you’re tax compliant and your books are accurate.

Before we dive into more of the nuts and bolts of accounting, let’s go over some key property management accounting terms. These are terms you might have already heard:

Accounting period: Designated period of time measured for a financial statement. This is typically by month, quarter, or year

Accounts payable: What your property owes to creditors (vendors, utilities, etc.)

Accounts receivable: Money owed to your property

Accrual accounting: Accounting method where transactions are recorded as revenue is charged or an expense is incurred; alternative to cash accounting

Allocation: The process of allocating funds to different general ledger accounts or periods. Alternatively, assigning expenses to different properties.

Asset: Things that your business or your client owns that are worth monetary value

Bookkeeping: Recording business transactions; another word for business accounting (note that for third-party property managers, records are kept at the individual property level(

Bank reconciliation: Comparing and cross-checking that your financial records or accounting books match with your bank’s

Cash accounting: Accounting method where revenue and expenses are recorded only when money is exchanged; alternative to accrual accounting

Chargeback or expense recovery: Occurs when the property accrues an expense, but the cost is the tenant’s responsibility

Credit: Way to show whether money is flowing into or out of the property’s books; liabilities, equity and income increase when they are credited.

Debit: Way to show whether money is flowing into or out of the property’s books; assets and expenses increase when they are debited

Depreciation: The loss of value of an asset over time

Equity: The ownership (or portion of ownership) of an asset or business

Expense: The cost of operating your business, including payroll, contractor payments, advertising, and other fees

Fixed cost: Expense that does not change over time including rent or insurance

General ledger (G/L): Comprehensive financial record of all business transactions

Generally accepted accounting principles (GAAP): Universal accounting standards set by the Financial Accounting Standards Board

Liability: What your business or the property owner owes to another party

Overhead: All costs to run your business outside of your actual service

Revenue: Income generated by the property or your business

Building systems can reduce the time you spend on important but mundane tasks significantly. That’s what makes building a strong foundation an absolute must. With the right property management bookkeeping basics , you’ll be able to manage your accounts consistently, proactively, and accurately. Here are the five best ways to do exactly that.

1. Open a Separate Basic Account

The first and arguably most important step is to ensure that you have a proper bank account structure for your business so that funds aren’t passing through a single bank account (which may be illegal in most states). This structure varies depending on the size and scope of your business, but here are the four main bank accounts you’ll generally need to open:

• Property management trust account
• Security deposit account
• Operating account
• Property management reserve (optional)

Several states require security deposits to be held in separate escrow accounts , so funds are able to be accessed when residents move out. If your state allows it, consider placing your security deposits in a trust.

2. Establish a Property Management Chart of Accounts

A chart of accounts for property management is a way to organize all transactions for every property you manage. When set up right, it effectively categorizes each transaction within the general ledger, making property management accounting much easier.

Depending on the complexity of your business, you can start with an Excel spreadsheet or use a comprehensive solution such as Buildium to build it automatically for you.

The chart of accounts are made up five major types of accounts:

Liabilities

How to organize your chart of accounts

As mentioned above, the five types of transactions listed in a chart of accounts include assets, liabilities, equity, income, and expenses. You can then list categories for each type. For example, under income you can list rent, pet fees, appliance rentals, or parking fees.

Ensure you’re differentiating current assets with fixed assets. Current assets are variable and include escrow, reserve accounts for insurance, your bank accounts, taxes, capital expenditures, and interest.

Fixed assets are funds tied to your properties and business, including the monetary value of each property and the improvements made on them.

Just like your assets, you can categorize each expense by taxes, software, supplies, utilities, repairs, bank fees, cleaning costs, travel expenses, etc.

Liabilities can be categorized between current and long term. Accounts payable, rent due, prepayments, security deposit liability, owner-held security deposits, and note payable.

Want more detail? We’ve put together a guide on setting up an air-tight chart of accounts that will walk you through everything you need to know, with expert advice and even an itemized list of what to include.

3. Decide Between Cash and Accrual Accounting

WIth cash accounting property managers record money as it is received and paid from their bank accounts. Accrual accounting records revenue and expenses when they occur, rather than when the money moves.

4. Decide Between Single-Entry or Double-Entry Bookkeeping

Single-entry bookkeeping is when all financial items are recorded one time. However, double-entry is certainly more common and usually recommended , especially for property management accounting. Most property management companies are required to track more than just cash flow, meaning that you’ll need to distinguish where the money is actually coming from (rent vs late fees, for example), and where it was deposited. Every transaction is entered twice: once as debit and once as credit and is consolidated afterward.

5. Manage Invoices and Receipts

Whether through accounting software or a more comprehensive property management solution like Buildium, keep a habit of maintaining a record of all statements for money going in and out of your business. Set up a regular reporting schedule and be sure the numbers are checked thoroughly on a regular basis.

As a property manager, you’re handling other people’s money on a daily basis. Trust accounts are a valuable way to help you keep your owners’ assets organized, stay compliant, and reconcile accounts through more accurate reports.

Trust accounting basically means when a third party—in this case, a property manager—holds funds for the benefit of (in trust for) a beneficiary, the property owner. Having a trust account helps to keep your operating capital separate from the rent and payments you collect from residents.

Dos and Don’ts of Trust Accounting

Do make sure that you have a trust account in place for all payments you receive from residents, not just security deposits. When setting up a trust, the signee should always be the property management business owner or a bonded employee. The same amount of care to keeping your trust accounts up to date. Every 6 months to a year, make sure that the property owner (beneficiary) information for your trusts is accurate.

Do not grant non-bonded employees the ability to release funds from your trust accounts. That includes restricting ACH, billpay, and wire access. Also avoid using signature stamps to sign a trust agreement or other forms of banking authorization. Because these stamps are legal, authorized signatures, you won’t be able to claim fraud if an employee or others use your stamp for unauthorized activity.

Trust accounts are a necessary and useful tool to keep your funds organized and compliant with regulations, especially as you take on more owners, but they come with their own set of rules and risks. Learn more about how to set trust accounts up correctly.

Reports are versatile. They can provide a high-level overview to investors or can be extremely detailed for your monthly HOA meetings. Here are the four reports that will make the biggest impact on your business.

Deep Dive: Knowing your books: which property accounting reports matter most?

Owner report or rental owner statement

This report paints a picture of how the property owner’s investment performs at the beginning and end of every period. This accounts for all the money entrusted to you in an easy-to-understand matter. Here’s what comes with an owner report:

• Property address
• Contact information
• Beginning, end and statement dates
• Beginning and end balances
• Income, broken down by type
• Expenses, broken down by type
• Net income or loss
• Security deposits
• Early payments
• Capital contributions by owner
• Required reserve and operating levels
• Funds received but not yet deposited

Detailed Income Statement or Profit & Loss (P&L) Statement

An income statement documents your cash flow during a month, quarter, or year, so that your partners and shareholders are given accurate records of your company financials. These include:

• Beginning and end dates
• Property management fees
• Contributed capital
• Tax credits
• Profit from sale of assets
• Adjustments to previous assumptions
• Investment income
• Interest received
• Salaries and wages
• Consulting fees
• Advertising and marketing costs
• Accounting fees
• Software fees
• Insurance premiums
• Depreciation and amortization

The rent roll report predicts expected revenue based on historical data. Owners use this report to see how they’re pacing against their financial goals. You’ll also see which units are vacant, which leases are up for renewal soon, and which tenants are on month-to-month leases.

The report includes:

• Lease dates
• Recurring charges
• Estimated market rental value
• Sum of all deposit amounts

Depending on how hands-on they are, owners might request the details captured in these reports often, and with little notice. Luckily, Buildium allows you to generate and download rent roll reports with just a few clicks.

Budget vs Actual Report

This report identifies the disparity between your projections and reality, which allows property managers to adjust their budgets and plan for potentially unexpected costs or cash flow issues.

Reports in Just a Few Clicks

No matter the type of report, you’ll want easy access to your accounting data and a way to share that data with owners. Buildium lets you generate and save accounting reports easily, and then send those reports to clients or other members of your team—all within the same platform.

Having learned about all the different aspects of property management accounting, let’s see how it all fits together. There are four major steps that take place:

• The transaction occurs (a bill is paid, a tenant pays their rent)
• Record the transaction in the general journal (chronologically)
• Post the entries to the appropriate accounts on the general ledger
• Total your accounts and use it to prepare your financial statements

Now that we’ve talked through the basics of property management accounting, let’s go through ready-to-use tips that turn property accounting into an asset for your business.

Reconcile Accounts Monthly

Reconciling is the process of ensuring that your records match the money you’ve actually spent. Maintaining a habit of reconciling your accounts at the end of every month helps you find typos, duplicates, missing entries, and bank errors early.

Stay Cash-Flow Positive

Cash flow is how much money you have left over at the end of a measured period of time after collecting rent and paying out your expenses. Making the wrong investments, either in a property or in your business, can be a money sink for you and your clients, creating a negative cash flow. The higher the cash flow in the accounts you manage, the more money you’ll have on hand to make upgrades, grow your business, and pay off any debt. As obvious as this is, it’s one of the best ways to stay in the black is to proactively stay on top of accounting!

Have a Rainy Day Fund

It’s important to have a safety fund so you’re not struggling with unforeseen expenses. Work out the size of a reserve fund with rental owners, so you can stay ahead of the unexpected.

Be sure it’s liquid, or you’re able to tap into it with no risk of penalties or fees. Advisors typically recommend three to six months of expenses in your rainy day fund.

In the vast ecosystem of property management software, how do you choose the best accounting system for you? Choosing the right one will help you run and scale a growing portfolio, but they’re not all created equally. A purpose-built property management accounting solution should have the following features:

Automatic Bank Reconciliation

Reconciling your accounting records with your banks can be excruciatingly time consuming. One of the biggest timesavers is a software that automatically reconciles each check, deposit, and expense to minimize clerical errors that may end up being extremely costly. Automate reconciliation so you can generate accurate balance sheets, income statements, and rent rolls in real time.

Chart of Accounts

A chart of accounts categorizes all your financial transactions—which can be created  automatically in an effective property management software. Instead of worrying about integrating your accounting software with your spreadsheets and your property management software, find a software that does it all in one place—and securely.

Advanced Security

A non-negotiable feature you should look for is the ability to lock your books when you’re ready to file, so it can’t be accidentally or purposefully tampered with—so your reports remain accurate.

Online Rent Payments

Digitizing your online rent payments allows you to record every rent payment you receive automatically. And it makes paying rent much easier for your tenants as well. Automating this will save you a ton of time and most accurately track your transactions. A top payment portal also provides a record of previous payments and allows you to accept rental applications and other fees directly online.

1099 eFiling

If you’re like most property managers, tax season may cause big headaches. An effective property management software will allow you to minimize the hassle by automatically e-filing your 1099 with the IRS.

Accounts Payable

Any property management accounting software you choose should have automated accounts payable. Buildium, for example, includes calculators that show you what you owe your owners, your vendors, and yourself.

It also generates bills from work orders automatically, includes online payments, and allows you to set up recurring payments, as well.

Of course, every business is different, and it’s always a good idea to talk with a professional CPA to understand requirements and details you should look out for that are specific to your company, your clients, and where you operate.

With that in mind, the first steps are easy. You can get started quickly with Buildium’s property management accounting software features and award-winning customer service. Choosing the right property management software is the best way to automate bookkeeping, manage your accounting, and power your properties. So what are you waiting for?

Get started with Buildium accounting software today.

Jon Park a Content Strategist who started his career by building an online community of 150,000 beatboxers. During the little time where he's not consulting or heads-down writing content, he loves playing gaming, traveling to escape the NYC weather, and eating hot pot.

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Property Management Agreement

Last Updated: October 17, 2023 by Roberto Valenzuela

A Property Management Agreement is a contract between a property owner and a manager (“Agent”) who handles day-to-day operations at a rental property. This agreement provides terms employing the agent to lease, repair, maintain, and upkeep the property.

What Does a Property Management Agreement Do?

A property management agreement hires a manager to operate and rent out property on the owner’s behalf, in exchange for fees such as a percentage of revenue collected on the property (often 8-12%). While they can take on a variety of tasks, a property manager usually performs the following services for the property owner:

• Advertising leases.
• Screening tenant applications.
• Entering and managing lease agreements.
• Conducting property inspections.
• Managing landlord and tenant disputes.
• Organizing and managing property repairs and maintenance.
• General upkeep (e.g., landscaping, snow removal, etc.) on the rental property.

What To Include in a Property Management Agreement

A Property Management Agreement contains three major sections:

• General Terms – The parties to the agreement, the property under management, the length of the agreement, and compensation for management. These essential elements usually are addressed at the beginning of the agreement.
• Agent’s Powers and Obligations – Details the powers granted by the owner to the agent for property management purposes, and reciprocal responsibilities.
• Owner’s Obligations – Details the owner’s commitments under the agreement, such as providing the agent with the necessary resources to properly manage the rental property.

These are specific terms and clauses to include and a brief explanation of their purpose:

• Date – The date the agreement goes into effect.
• Parties – Identifies the owner and the agent. This section typically includes contact information for both parties. It is important to include the agent’s professional licensure information, especially in states which require professionals doing property management .
• Agent Appointment – Provides the general authority given to the agent along with details about the property subject to the agreement. Provides the full property address(es) and a description.
• Term – Specifies how long the agreement lasts, and what happens when the agreement’s term ends. The average term is 1 year, but varies.
• Termination Rights – States whether termination of the agreement is allowed and, if so, under what terms.
• Agent’s Compensation – Details fees that will be provided to the agent for their management services.
• Additional Fees – Details additional fees for certain specific situations.
• Other Compensation – Details certain actions that are not part of the agreement but may be paid upon request by the owner.
• Sale of the Premises – Indicates whether or not the agent may represent the property if the owner decides to sell.
• Agency Relationships – Details the scope of the agent’s potential relationships with other property owners, in the event of a potential conflict of interest.
• Lease Management – Empowers the agent to manage lease agreements with tenants.
• Leasing – Specifies the types of lease agreements the agent can contract on the owner’s behalf.
• Security Deposits – Details the agent’s authority to collect security deposits , and notes which party has responsibility for returning security deposits upon move-out.
• Lease Amount – Establishes the range of rents an agent is authorized to charge tenants.
• Owner Distributions – Details how distributions of income get made to the owner.
• Repairs and Maintenance – Provides the agent authority to make repairs and maintenance and provides a dollar threshold on expenses above which the agent needs written approval from the owner. This typically includes an exception for emergency situations.
• Evictions – Agent authority to evict tenants and take legal action.
• Trust Funds – Empowers the agent to deposit received funds, according to particular directions.
• Advertising – Establishes the agent’s authority to advertise rental units for lease.
• Hiring Contractors – Provides the agent authority to hire contractors for the operation and maintenance of the property.
• Payment of Expenses – Authorizes the agent’s use of owner funds to pay for relevant expenses on the property.
• Financial Statements to the Owner – Details the agent’s responsibility to provide financial statements on the income and expenses of the property.
• Due Diligence – The agent’s agreement to exercise due diligence in the performance of management duties.
• Federal and State Law – Affirms the applicability of relevant federal and state law to the performance of the agent’s duties.
• Documentation – Details the owner’s responsibility to provide all  documentation necessary for the performance of the agent’s duties.
• Indemnification – Exempts the agent from liability for certain actions taken by the owner.
• Habitability – Affirms the owner’s obligation to ensure the property is habitable.
• Taxes – Assigns responsibility for the property’s tax payments explicitly to the owner.
• Financial Obligations – Specifies certain financial obligations taken on by the  owner.
• Lead-Based Paint – Reiterates the owner’s responsibility for required disclosures regarding lead-based paint on property built before January 1, 1978.
• Owner Representations – Makes important representations from the owner about the status of the property and any adverse events that may affect the property.
• Equal Housing Opportunity – Requires that  the property be leased in compliance with anti-discrimination laws.
• Notices – Specifies methods for sending notice between the parties.
• Arbitration – Agrees the parties will use arbitration to settle any disputes, with exceptions if relevant.
• Attorney Fees – Provides attorney’s fees to the prevailing party if there’s a dispute over compensation.
• Succession – Specifies that the agreement continues to apply to any successors in the interest of either party (e.g., if the property management company is bought out and has new owners).
• Governing Law – Selects the set of laws that govern the agreement. Can also specify a default venue for resolving legal disputes.
• Additional Provisions – Any additional terms specific to a particular property management situation.
• Severability – A standard clause specifying that the agreement as a whole continues to be valid even if a court finds any particular provisions invalid. The invalid parts get ignored, and the rest of the agreement continues in force.
• Waiver – A standard clause expressing that any failure to perform a part of the agreement should not be interpreted as waiving that performance or requirement.
• Amendments – Requires a signed writing to validly amend the agreement.
• Entire Agreement – A standard clause specifying that the entire scope of the agreement is contained within the agreement itself and any attachments.Any prior negotiations or representations, written or oral, are null and void. Any future negotiations or representations have no effect unless they fully comply with the agreement’s amendment process.
• Acknowledgments – Provides various acknowledgments for both parties.
• Signatures – Gives binding effect to the agreement between the parties, upon execution. To confirm free consent, a witness customarily also signs to verify both parties voluntarily agreed to all terms after a fair chance to review and discuss.

The parties should execute a signed copy of the agreement for both the owner and the agent.

After Signing a Property Management Agreement

After finalizing a Property Management Agreement, the first step is typically to notify current tenants that the property is under new management. This often happens through a Notice of New Management Letter . This letter introduces tenants to the new property management company, provides relevant contact information, and reassures that the leasing terms have not changed.

Benefits of Property Management

Professional property management is an efficient way to take the stress of running rentals off a property owner. With the right person operating under a comprehensive Property Management Agreement, a property owner can look forward to many benefits, including:

• Consistent Administration of Multiple Rentals – A property manager has the time and resources to ensure that multiple rental properties get handled in a consistent way. This ensures the same quality of rental experience for everyone who signs a lease.
• Reduces Effects of Distance – When an owner lives a long way from a rental property, the distance involved has adverse effects on both the owner and any tenants. Property management provides more responsive service to the tenant, and also saves the owner from potential commutes.
• Time Savings – Often the single greatest benefit of contracting a property manager is the time it saves the owner.
• Skilled Administration – Owning a desirable property doesn’t necessarily make a person skilled at the demands placed on an average landlord, like advertising a rental or handling tenant complaints. Property management can administer a property with greater skill than the owner would have otherwise.
• Easy Legal Compliance – Professional property managers have training in legal requirements for rentals. This helps ensure consistent compliance with local law, especially for property that’s subject to extra regulations like affordable housing programs.
• Stronger Finances – Property owners often simply get a better return on their time doing things that aren’t day-to-day rental management. A property manager often makes financial sense.

More Real Estate Templates

Rent-to-Own Agreement

House Rental Agreement

Proof of Residency Letter

Property Management Termination Letter

Rental Application Approval Letter

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A free rental property profit and loss statement template

One of the main reasons people invest in real estate is for the potential income the property can provide. A profit and loss statement for rental property helps investors to “keep their eye on the ball” and manage a property to increase overall returns.

What is a profit and loss statement for rental property?

A profit and loss statement for rental property is used by owners and property managers to track income and expenses and the corresponding profits (or losses). 

Also known as an income statement or P&L, a rental property profit and loss statement reports the current financial performance of a property over a specific amount of time. 

A good profit and loss statement also serves as a guide for identifying potential opportunities to increase income, reduce expenses, and maximize net operating income (NOI).

How a profit and loss statement works

A rental property profit and loss statement is divided into three sections: Gross income, operating expenses, and net operating income or NOI:

Gross income

Gross income on a profit and loss statement includes revenue from the monthly rent collected. 

This section also includes additional income such as pet rent, appliance rent, and revenues from covered parking and laundry room usage in multifamily properties. Application fees from prospective tenants and late fees from current tenants are also included as gross income. 

Various types of gross income are normally recorded and assigned to a specific line item, depending on how the rental property chart of accounts is set up. For example, monthly rent may be line item 1000, pet rent may be line item 1001, and so on. 

By itemizing gross income to source, real estate investors are better able to understand the different revenue streams that generate gross income, and identify potential opportunities to increase income.

Operating expenses

Operating expenses are the second part of the profit and loss statement, and include all of the costs and expenses of owning and operating rental real estate. 

As with gross income, operating expenses are usually assigned a specific line item for each type of expense. This makes it easier for owners to identify areas where expenses are higher or lower than expected, and to look for ways to reduce operating expenses to generate a higher potential return. 

Different property types have different operating expenses. For example, a small multifamily property may have expense line items for utilities paid by the landlord and for common area maintenance like keeping a shared parking area safe and clean. 

Operating expenses like these usually are not found with single-family rental homes, because in most cases tenants are responsible for utilities and keeping the carport or garage in good condition. 

Common operating expenses found on a profit and loss statement include:

• Advertising and marketing
• Continuing education
• Depreciation expense
• Dues and subscriptions
• Interest – mortgage
• Interest – other (such as a business credit card balance)
• Landlord insurance
• Landscaping and snow removal
• Leasing fees
• Licenses and permits
• Maintenance fees
• Mortgage interest expense
• Office supplies
• Owner auto expense
• Pest control
• Professional fees
• Property management fees
• Property taxes
• Rental accounting software (free from Stessa )
• Sales or use tax (based on a percentage of rent collected in some cities and states)
• Trash removal
• Travel expense
• Utilities paid by landlord (such as water, sewer, and trash in a small multifamily building)

Oftentimes the operating expense section of a rental property profit and loss statement will be modeled after Schedule E (Form 1040) from the IRS. 

For example, the rental property asset management software from Stessa allocates expenses and income to help make filing a Schedule E easier and more accurate. 

After signing up for a free Stessa account , investors simply enter basic rental property information, link business banking and property mortgage accounts, then begin automatically tracking income and expenses at both the property and portfolio level.

Stessa also offers an array of other tools to streamline your operations and maximize your investment returns:

• Automated accounting tools
• Manual expense tracking
• One-click smart receipt scanning
• Mileage tracking
• Automated bank feeds
• Centralized dashboard with key metrics and complete chart history
• Rental applications
• Tenant screening
• Online rent collection
• Landlord banking
• eSigning of documents and leases

Go here to learn more about Stessa .

Net operating income

The final section of the profit and loss statement reports net operating income (NOI). 

Real estate investors use NOI in financial calculations such as cap rate and debt service coverage ratio (DSCR). Cap rate reveals the current and potential return from a rental property, while DSCR is used to determine the mortgage amount that a property’s net operating income can support. 

However, before calculating cap rate and DSCR, expenses such as mortgage interest, depreciation, and capital expenses should be excluded from the total operating expenses so that NOI is accurate. 

Free rental property profit and loss template

This free rental property profit and loss template has sections for rental income, operating expenses, net operating income, and pre-tax net income. There are rows for each income and expense item, and columns for each month, along with running totals at the far right and bottom of the template. 

Each section automatically calculates using the figures you enter. The template also updates your pre-tax income or loss, so you can tell at a glance what your potential taxable net income or loss is as the year progresses. 

The template is a Microsoft Excel document and is fully editable so you can customize it to meet your specific business needs.

To download the template, click on the link below, then select File  at the top left corner of the page, select Download , then choose Microsoft Excel .

Download your free rental property profit and loss template

Example of a rental property profit and loss statement

To illustrate, let’s look at an example of an annual rental property profit and loss statement, and how to calculate cap rate and debt service coverage ratio using NOI.

We’ll assume a rental property was purchased for $150,000 from the Roofstock Marketplace with a tenant already in place. When the lease came up for renewal, the investor received a discounted leasing renewal fee from their property management company to extend the lease with the current tenant.

To simplify this example, some expenses such as landscaping and pest control have been grouped together under the repairs and maintenance line item:

Profit and loss statement example

Gross Income 

• Rental income: $14,340
• Pet rent: $600

Total Gross income: $14,940

Operating Expenses

• Property management: $1,090
• Leasing/renewal fee: $200
• HOA fee: $360
• Insurance: $900
• Repairs and maintenance: $600
• Property taxes: $1,500

Total Operating Expenses: $4,650

Net Operating Income: $10,290

• Mortgage interest 1 : $4,015
• Depreciation 2 : $5,091

Pre-tax Net Income: $1,184

1 Mortgage interest is based on the owner making a 25% down payment ($37,500) and financing the rental property using a fixed rate mortgage with a 30-year term.

2 Depreciation expense was calculated by subtracting the lot value of $10,000 from the property price of $150,000, then dividing $140,000 by 27.5 years. 

Calculating the cap rate

Capitalization rate (known as cap rate for short) measures return on investment by dividing net operating income (NOI) by the property value or sales price. In the example above, the property’s cap rate is 6.9%:

• Cap rate = NOI / Property value
• $10,290 NOI / $150,000 property value = 0.686 or 6.9%

Cap rates should only be used to compare similar properties in the same real estate market or neighborhood. That’s because factors such as the property type (such as single-family vs. multifamily), neighborhood ranking, location of the property, and property tax rates all affect the average cap rate in a specific market.

Generally speaking, the higher the cap rate is the greater the potential return. However, experienced investors take care to calculate the cap rate accurately because sometimes sellers put off making repairs or self-manage a property to help increase the amount of net operating income.

How to calculate DSCR

Debt service coverage ratio (DSCR) is one metric that real estate investors and lenders use to determine the maximum annual debt service that the NOI from a rental property will support.

The DSCR formula looks like this:

• DSCR = NOI / Annual debt service

For example, if a rental property generates an annual NOI of $10,290 and the annual debt service is $8,500, the DSCR is 1.39:

• $10,290 NOI / $8,500 annual debt service = 1.39

Most lenders look for a debt service coverage ratio of at least 1.25 for a rental property. In other words, a lender wants to make sure that there is extra net operating income remaining after the mortgage has been paid, in case rental income is lower than expected or operating expenses are higher than anticipated.

By rearranging the DSCR formula, an investor can determine that maximum amount of annual debt service the property can support:

• Annual debt service = NOI / DSCR
• $10,290 NOI / 1.25 DSCR = $8,232 annual debt service (principal and interest)

By understanding the maximum amount of annual debt a rental property can support, an investor can shop around for the best financing options offered by lenders and mortgage brokers.

Types of rental property profit and loss statements

Profit and loss statements provide an investor with a snapshot of the income (or loss) a rental property is generating over a specific period of time. Some of the most common profit and loss statements used by real estate investors include:

Reports the income or loss from a rental property for a given month. The net income a rental property generates can vary from one month to the next, and even be negative for a certain amount of time. 

For example, if a vacant home is purchased, the property may generate a loss for the first few months. That’s because operating expenses begin the day the property is purchased, while rental income does not start until a tenant is found and rent is collected.

Year-to-date

A year-to-date profit and loss statement reports a running total of income, expenses, and net operating income from the beginning of the year to the current month. If an investor generated a year-to-date report for January through July, for example, the report would show the total income and expenses for the first seven months of the calendar year.

A year-end profit and loss statement reports the property income or loss for the calendar year and is also used to prepare tax returns filed with the IRS, as well as the state that the rental property is located in.

Final thoughts

In real estate, the best rental properties are the ones that turn a profit. An accurate profit and loss statement helps investors to identify areas where gross income might be improved, and where operating expenses can be decreased, to help increase net operating income. 

Track your rental property performance for Free

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Avon residents displaced by fire say management is no longer paying for hotel rooms

A VON, Conn. (WTNH) — Nearly one month since a fire at the Avon Place apartments forced dozens of families out of their homes, displaced tenants said management is no longer paying for their hotel rooms.

Nerraj Gupta, who was displaced along with his wife and two children, said that they received an email Wednesday night stating that accommodations were expiring Thursday and there were no other options.

“That was shocking to me,” Gupta said. “I was with my family having my dinner, and suddenly this email pops up saying that we need to vacate tomorrow.”

The email went on to say that management explored properties in Avon, Wethersfield and Stamford; but Gupta said that is challenging for working families with school-aged children. 

“Everybody is in the same difficult spot, that they don’t have any clarity,” Gupta said.

News 8 spoke to the property owner, Ahron Rudich, by phone and asked for clarity.

“We just found out [Wednesday at 5PM] that the [insurance] coverage ends, and we’re way over the coverage,” Rudich told News 8. “I have to pay for that.”

Rudich said he has spent more than $200,000 of personal funds for hotel fees.

He told News 8 that crews are on-site to restore the complex, but town leaders are holding them back.

“We have done everything [Avon leaders] have asked us to do,” Rudich said. “They still didn’t give us the green light. All of a sudden, yesterday at the end of the day, we received a new letter with a hundred things on it of more things that have to get done, which don’t even make sense.”

Avon Town Manager Brandon Robertson declined to comment on camera, but provided a written statement.

“The Town of Avon’s heart goes out to those dealing with the aftermath of this terrible event,” he wrote. “The Fire Marshal and Building Official have provided a list of required repairs that need to be made to ensure compliance with the applicable codes. Recognizing the difficult living situations faced by the families, the departments stand ready to provide the quickest response possible for requests for inspections and/or general questions. That has been our approach and will continue to be so.” 

Meantime, tenants regained access to the complex on Thursday so they could retrieve their belongings.

Residents said they’re now paying for hotels out of their own pockets, and are frustrated with Avon Place management.

“At least [management] can come and talk to us, see what kind of conditions we are in, what kind of challenges we are facing; and then as a community we can work together,” Gupta said.

Residents said they’re working with Avon’s social services office to review their next steps are.

For the latest news, weather, sports, and streaming video, head to WTNH.com.