Property Management Updates

Property Management Updates

Property Management Team Reaches New Milestone

The art of management is spending enough money to keep the property well-maintained while watching your expenses enough to create a good return. — RJ Neary

We were pleased to announce over the summer that our property management team has reached six million square feet of space under management! This is up from 600,000 square feet just ten years ago.

Over the years as the company grew, we realized we needed to provide more robust property management services. This led to steady growth in property management for many years. About ten years ago we developed and implemented a strategic plan dedicated to the growth of property management. The plan prioritized a structure and staffing model that would help the team succeed.

Today, we manage properties ranging from 3,000 square feet to a highly regulated medical portfolio of 420,000 square feet.

We have committed to significant investments in technology over the past several years, and have attracted a talented team that contributes to our mission and can thrive in our culture. We believe it is the people who work here who make the difference on a daily basis for our clients, helping them address challenges and seize opportunities.

With a talented and supported team, proven processes and procedures, and efficiency-building technology, we are ready to take on the next six million square feet! For a more detailed look at our property management growth go to our website and see the full article recently published in Midwest Real Estate News.

Online Payment Option Coming Soon!

It is 2019 (for a little bit longer) and tenants consistently ask if they can make online payments or pay with credit cards. Asked and answered! The wait will soon be over, and VersaPay will go live. We are excited about what this platform will do for our tenants — and our owners.

VersaPay interfaces with our existing accounting software to create a safe and secure tenant portal that allows our tenants to pay their monthly rents. They can set up autopay, pay manually (via ACH or credit card), dispute balances and access invoice back up. Owners will have tenants with more accessibility to their account and, in turn, will get rents faster. It also becomes a great selling feature as we attract and retain tenants. Our property managers will be able to monitor their own dashboards to connect with tenants, circulate reminders and resolve balance disputes. Collections become more interactive between the property manager and our tenants.

For more information on how this service works we have added an FAQ section to our website to help answer your questions. Video tutorials walking tenants through the set up process will be circulated and posted on our website.

We are excited about the convenience we are creating for our tenants and look forward to passing the related benefits along to our loyal owners.

Fighting Fraud with Positive Pay

In a continued effort to fight fraud, Investors Realty has implemented Positive Pay as a service for our clients. Positive Pay is offered by most commercial banks as an additional level of protection against forged, altered and counterfeit checks. It allows the banks to verify that the checks they process are valid.

While this system is mostly automated, it does add some additional time to the check writing process. We believe the extra security provided is well worth the extra effort. Since we began instituting this service to over 140 of our bank accounts several months ago, we have avoided several attempts to pass fraudulent checks through our clients’ accounts. Often times there is a bank fee for this service, but through our strong banking relationships, the majority of the banks that work with Investors Realty are offering this service at no charge to our clients. We believe Positive Pay is an important tool in fighting fraud and are pleased to add this service for our clients.

This article appeared in our company newsletter in December of 2019. Please click here to download the entire newsletter.