New Tool From Zillow Lets Renters Apply for Lease, Pay Rent Online

New Tool From Zillow Lets Renters Apply for Lease, Pay Rent Online

Real estate website Zillow has long been an online marketplace for finding rental properties. Now it wants to help landlords manage those renters after they’ve moved in.

The company announced Tuesday that it’s launching property management tools aimed at bringing the landlord-renter relationship online. The features include paying and collecting rent online and online applications that allow renters to apply to multiple properties with just one application.

“Renters tell us they want the entire rental process to happen online, from search to application to payment,” said Zillow president Jeremy Wacksman in a statement. “However, most landlords don’t have the resources to offer these services. We’re excited to provide the technology to help renters and landlords have a better experience.”

Zillow will charge a $29 fee for the online application. Experian will execute the application’s credit report while Checkr will provide a background check and eviction history.

The new features are just the latest move by Zillow to expand its business outside of the listing service that brought it to prominence. In April, the company jumped into homebuying and selling with Zillow Offers, which is expected to pour between $75 million and $250 million into homes this year, bringing Zillow into direction competition with iBuyers like Opendoor and Offerpad. Zillow Offers is currently in Phoenix and Las Vegas, and will expand to Atlanta in the fall.

The move also puts Zillow in direct competition with a number of existing property management platforms. Cozy is a platform that provides similar tools for free, as well as a rent estimate and property analysis for a fee. Houserie is similar platform that was recently purchased by e-commerce site Overstock.

 

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3 Qualities to Look for in an Effective Property Manager

3 Qualities to Look for in an Effective Property Manager

Property management is a profession that overlaps and intersects with many other fields, such as accounting, marketing, construction, law, insurance, and many more. This makes it very hard to find or identify a good property manager versus an average or below-average one.

The three qualities of an effective property manager are transparency, maintenance capabilities, and limited scope. As the owner of a property management company myself, here’s why I believe these three qualities matter.

 

Read More Here: https://www.allpropertymanagement.com/blog/2018/05/18/qualities-of-an-effective-property-manager/

Texas Re-Entry Acquisition

Texas Re-Entry Acquisition

Case Study

Texas Re- Entry Acquisition

Property: Cranbrook Forest
Acquired: July 2018

Opportunity:
Value-add re-entry into the bustling Houston market. Houston multifamily has continued to show strong appreciation and momentum with occupancy, absorption, rental rates, and job growth on a positive slope year after year.

Total Capitalization

18M

Cash on Cash

11.5%

Internal Return Rate

19.2%

Equity Multiple

2.1X

Challenge

Lack of effective property management and financing difficulties resulted in a need to sell.

Execution

Through implementing a hands-on approach, capital improvements and new property management takeover took less than six months to complete.

Outcome

Foothold in Texas

Testimonial

“Texas offers a myriad of strong investment opportunities. Despite the devastation from Hurricane Harvey and economic struggles due to the oil industry slump, Texas is known for housing many innovative technology companies and will most definitely continue to grow.”

SVP of Business Development, Michael Davalos

MICHAEL DAVALOS

SVP of Business Development

CONTACT US

(786) 295-9568
BIZDEV@TZ-M.COM
11098 Biscayne Blvd, Miami, FL 33161

Cross State Georgia Acquisition

Cross State Georgia Acquisition

Case Study

Cross-State Georgia Aquisition

As a chance to re-enter the Georgia landscape, Tzadik found itself with an off-market portfolio consisting of 1,010 units across Atlanta, Macon, and Albany.

Property Acquired April 2008

Equity Multiple

3X

Total Capitalization

42M

Cash On Cash

15%

Internal Return Rate

36%

Challenge

An absence of strong marketing and property management had resulted in high staff turnover, tenant dissatisfaction, and underperformance. A severe backlog in deferred maintenance, paired with a heavy CAPEX lift had to be addressed and coordinated across three cities. 80% occupied at acquisition.

Strategy

Successfully secured bridge financing at 85% of cost and immediately reinvested capital into improving property infrastructure, management services, and marketing. Upon stabilization, the property will be taken to permanent financing.

Outcome

  • Occupancy at 88%
  • Over 50 units upgraded in less than 3 months.
  • Strong onsite company culture
  • Improved online presence

Testimonial

“This portfolio had a lot of employee turnover, while also being overstaffed which led to poor occupancy and overall NOI that considerably lagged the market.”

Adam Hendry, Tzadik Management CEO

MICHAEL DAVALOS

SVP of Business Development

CONTACT US

(786) 295-9568
BIZDEV@TZ-M.COM
11098 Biscayne Blvd, Miami, FL 33161

Will Neuner

Will Neuner

Will Neuner

Will Neuner, currently Tzadik’s Senior Asset Manager, has been with Tzadik for many years and has seen Tzadik grow from 30 employees to 130 employees. First interning with Tzadik in the summer of 2013, Will learned property management from the ground up working between all of Tzadik’s properties in both Miami-Dade County and Broward County. Soon after completing his Bachelors degree in May 2015, Will returned to Tzadik full time as a Property Manager for the 7 properties located in Miami-Dade County. During his time as Property Manager, Will had an instrumental role in the sales of these 7 properties in Miami. Since returning full time, Will’s title has changed from Property Manager to Project Manager to Senior Asset Manager and he now manages all Capital Expenses, liens and violations and all hurricane related insurance claims. In addition to this, Will is the primary contact with our lenders and loan servicers and is responsible for tracking all of our escrow accounts allocated for Capital spending. Outside of Will’s day to day duties, he also plays a big role in new acquisitions as one of the leaders in the due diligence process.

Having great organizational skills along with a high skill level in Microsoft Excel, Will successfully tracks and manages all Capital spending for the company and can paint a picture of all improvements that have been made to each asset since purchasing. Because Will works with many different departments ranging from the on-site management team, the accounting department as well as the executive team, he is an ideal team player who lives by our core values, especially “we succeed together” and “keeping each other informed.”

Will graduated from Florida Atlantic University in 2015 with a degree in Urban and Regional Planning and also competed on the University’s Tennis Team.

 

Quotes to Live By

“There is no way around hard work. Embrace it. You have to put in the hours  because there’s always something which you can improve.” – Roger Federer

“You have to believe in the long term plan but you need the short term goals to motivate and inspire you.” – Roger Federer

“I know the price of success: dedication, hard work, and an unremitting devotion to the things you want to see happen.” – Frank Lloyd Wright

 

Fun Facts

  • Tennis Fanatic
  • Proud Pensacola Native