Property Management and Upside-Down Mortgages

So the Great Recession is a thing of the past. Or is it? Secure, well-paying jobs are still few and far between, and the real estate market — though on a general upswing — still hasn’t fully recovered from the beating it took, leaving many homeowners still underwater.

Faced with foreclosure, a lot of folks have vacated their homes and started renting them out to let tenants pay the mortgage while they wait for values to come back up. It’s not at all an uncommon practice, but what is new in that space is the use of property management.

Since the vast majority of these homeowners didn’t choose to become landlords, they’re farming out some of the the responsibilities to property management companies so that they don’t have to deal with the day-to-day issues that can eat up a lot of the average working joe’s free time. Others are finding property management software to help them manage the property.

In both instances, newly minted landlords with little experience or desire are starting to realize the value inherent in property management, which can only be a good thing for the property management community at large.

Pilera is a best-of-class, easy-to-use, comprehensive online community management solution for apartments, condos, and associations. Pilera provides the easiest, most comprehensive data management capability available to property managers, leasing agents, boards of directors, and back-office personnel. Quickly and easily access whatever you need, whenever you need it, from wherever you need to be with office or mobile phone connectivity. You are never out of touch. Act on the document/information accessed from the office or “on-the-road” with Pilera supported mobile capability. Contact us today!