Asset and Portfolio Management : How To Say Goodbye To Emotional Investing

Portfolio management is an important part of your life. Maybe more important than you realize. You have an overall portfolio that is made up of everything you own. Within that portfolio is your investment assets that you need to manage in order to reach your financial goals and have a healthy and wealthy egg-nest to enjoy in your golden retirement years.

In order to profit from portfolio management, it is important to start by designing an investment policy statement and keep to it during the course of investing. An investment policy is your guideline? it's a rule of thumb meant to help you or your portfolio manager make the best decisions for you. Sometimes (actually, often!) our emotions cloud our judgment when it comes to investing.

A fairly significant time when emotion clouds our judgment is when our portfolio value is falling. Our knee-jerk reaction is to sell it all and put the money in a hole in the backyard. That happens far too often and was one of the major causes of the Great Depression in 1939 and the bursting of the tech bubble in 2000/2001. Investors are so easily swayed by emotion and what's called "the herd mentality."

An investment policy is designed to help you avoid emotional investing or getting caught up in the herd mentality. It's a statement ? as detailed or as vague as you want ? that outlines what your goals are with your portfolio, what your preferred asset mix is, and the timeline you have to get there.

Here is a sample investment policy statement. Due to space limitations, it is not heavily detailed.

Investment Policy Statement for John Doe

March 14, 2006

Purpose: the purpose of this statement is to provide me with a framework in which to manage my investment portfolio.

1. Account: My account is held at XYZ Discount Brokers. Their number is (800)555-1234. My account number is 123-456-789-123.

2. Investment objectives: My primary goal is growth and the mix I have selected is as follows: a.Growth: 55% b.Income: 25% c.Safety: 20%

3. Assets: My account is a standard account to hold equities, bonds, mutual funds, etc.

4. Current: I am investing a lump sum of $5000 into an equities and mutual fund mix that correlates to the above asset allocation. Each month I will deposit $200 into my account, divided into each of the asset allocations.

5. Goals: I want to have $100,000 within 25 years to enable me to buy a boat and sail around the world.

On this note, I hope that everybody who desires to generate massive profit from portfolio management, to take out a piece of paper and build your investment policy now. And remember to live with it, and I am sure you will find yourself much more rational in your investment decisions !

Stanley Chua is an investment optimizer and has been providing value-adding advisory in international business innovations, financial planning and portfolio management for the past 10 years. Looking to find out more how you can massively profit from managing your personal portfolio ? You can instantly receive a Free ?Portfolio Management and Asset Assessment? E-Course, at => http://www.portfoliomanagementguide.com

What Is Asset Management Software?

Asset management is the administration of a company's asset by a group of individuals, entirely dedicated to the purpose of maximizing profits. It deals with the company's future economic benefits in monetary terms by keeping a check on cash balances, credit cards, debit cards, margin loans, and brokerage services. Asset management also involves infrastructure, plant, property, and human resources of the company. Company's assets can be managed either manually or using software applications. However, for avoiding wastage of resources and the resulting inefficiencies that slow down business returns, asset management software is a high-quality solution.

The asset management software is designed in such a way that it can keep track of the company's assets and provides data for analysis. In other words, asset management software helps to keep track of, monitor, and analyze business processes and resources. It replaces the manual work of asset management and provides with automatic solutions, which help to speed up the work and minimize errors. This asset management software helps in diverting individuals to more productive work; it saves time by eliminating manual file management. It proved beneficial to skilled professionals to manage time and efforts in searching for the required data. This results in the optimum utilization of resources, thus, increasing the productivity of the company.

This software helps in keeping track of an asset, its purchase value, all service costs, reduced value, and its benefit. The team then uses this information for analyzing and evaluating the present value of the asset. This analysis helps companies to implement their further plans regarding allocation of assets to the company's various departments. It also helps the organization to evaluate whether the asset is in usable condition, needs upgrades, or needs to be replaced.

Asset management software is an effective tool for a company to manage its material goods, analyze statistics, and arrive at business decisions. Various departments can access this asset data by the company's intranet. The accurate data analysis leads the company towards a better assets management.

Asset Management Software provides detailed information on Asset Management Software, Digital Asset Management Software, Inventory Asset Management Software, Fixed Asset Management Software and more. Asset Management Software is affiliated with Free Project Management Software

How to Select a Good Property Management Firm

This is the time of year when vacation rental and investment property owners start taking a hard look at the revenues for the past 12 months and the quality of customer service that they and their guests received. With so many different property management firms and rental agencies to choose from in most markets, there is no need to suffer from lackluster performance on the part of your service provider.

Here are some thoughts to ponder when deciding whether to stay with your existing property management company or make a move to a better, more professional organization.

First and most important, are the owners of the company available when you need to talk to them or do you get sloughed off to an inexperienced trainee when it's an important issue that you need help with? Does the firm have a lot of turnover or can you count on the same professionals to help you year after year? Do you get a level of customer service that gives you a warm feeling or is there something lacking and you deserve better? Is your property bringing in the revenues you expected and is the firm continually improving its marketing program?

If you don't have complete confidence in the company that is marketing your property for vacation rentals or long term leases, then maybe it's time to make a change.

When you are comparing the services and fees of property management firms it's a bit like comparing apples and oranges. How do you accurately evaluate the sum total of all the various fees and expenses so you can estimate your annual net revenue? Are there hidden charges and monthly administrative fees that reduce your income? What is a fair commission rate to charge and what are the competitors in your market charging?

In Incline Village, the community where I work and live, the range of property management services and fee structures runs the gamut from bare bones to deluxe. If you are perplexed and confounded by these issues, then you are not alone. It seems that many property management firms (especially in the vacation rental business) try to nickel and dime their clients to death with excessive charges for cleaning, maintenance, credit card fees, administrative charges, processing fees, the list goes on and on.

Some firms charge a monthly administrative fee on top of the commission that they earn for managing a property. One can make an argument in favor of charging monthly administrative fees for short term vacation rental properties as they require more hands on attention to paper work with guests always coming and going. But charging this type of fee to the owner of a long-term rental property when all the paper work is done up front when the lease is signed is merely a form of gouging and should not be tolerated.

Processing fees for vacation rental properties are another bone of contention. Why should an owner or an owner-guest pay a processing fee? Companies that engage in this practice are trying to squeeze every penny possible out of the people who are really their clients. If you, your extended family or your guests have ever been charged a processing fee for making a reservation to occupy your own property, then you should seriously consider finding a firm that has more respect for you as a client.

Cleaning fees are another area that merits scrutiny. As a property owner you should not be forced to pay a cleaning fee every time you use your place, especially if there are no paying guests coming to the unit between your personal visits. Also, you should not be required to pay exorbitant sums for the annual "spring cleaning" that many firms insist on doing. If your property is supposed to be cleaned thoroughly after each paying guest, then why does it take several hours and cost hundreds of dollars just to clean a 2 or 3 bedroom condo in the spring time? Are the cleaning services padding their bills? Should you as a property owner and client of the firm have excessive fees extracted from you just because someone at the management firm claims that it took X number of hours to do the work in a unit that should have been reasonably clean to begin with? If you're skeptical about the charges for "spring cleaning", then it's best to either do the work yourself or hire a reputable independent cleaning service. The place will look just as good and you will save substantial amounts of money each year.

It is not always easy to find the right combination of great customer service, reasonable commission rates and high-quality care for rental properties. You can expect to find 2 of the 3, but finding all three things is very difficult. Since many firms in this business tend to experience high levels of staff turnover, finding a firm with a well-trained and stable pool of employees should be your first priority. Even if you have to pay a slightly higher commission rate, you will more than make up for it with increased bookings, better service and fewer problems.

If you own any type of rental property, then On-line booking capability is another big issue, especially when you realize that searching on the Internet is rapidly becoming the research method of choice for both vacation rentals and long term rentals. Any firm that does not offer this service is way behind the times and should not even be considered.

The Internet is a great tool for both marketing all types of rental properties and managing the vacation rental business. Just having a web site with pictures and text is not sufficient in these competitive times. If you are working with a property manager who refuses to set up on-line booking by the time you are reading this article, then it's time to change services. Select a rental agent who cares enough about you as a client to market your property 24 hours a day on the Internet.

Remember, when the rental office is closed, the only way that someone can book your unit is on-line via the Internet. If your property manager does not offer this service, you are losing business. Customers who search on-line normally want to book on-line and they will go somewhere else if they cannot book your property at the moment they are ready to make to a buying decision!

Don't settle for anything less than great customer service, a responsive, professional and well-trained staff and owners who are available and care about you and your property. Your rental property is a big investment and having the right management services can make a lot of difference in your annual rate of return and the long term value that you derive from the property.

Don Kanare is a real estate agent with Lakeshore Realty located in Incline Village, NV at the northeast corner of Lake Tahoe. Don writes a daily column about the new listings, price changes and general market commentary on Incline Village Real Estate. You can find Don's column on his web site at: http://www.InsideIncline.com

Choosing Property Management Software the Smart Way

Face it, you don't need more headaches -- property management is hard enough by itself. Now you have to find a good software program to get your growing business organized. Hand scribbled notes and mountains of paper are a thing of the past -- hopefully.

Get the important stuff first, and then sweat the details

You can rule out 50% of the property management software on the market if you focus first on what you 'really' are looking for. The two main mistakes many people make is (1) buying software that is overkill for their needs (thus wasting money and time) or (2) going for the cheapest alternative and getting software that has defects and doesn't fit their need (thus wasting time and money). Let's look at the differences:

Overkill: Do you need software to manage your properties and your office too? Let your property management software do what it does best - manage property. For your office accounting and payroll, there are plenty of inexpensive products that are perfectly good for both large and small businesses. However, if you use another accounting software for your office expenses, you may want your rental property software to export your bank deposits and checks to your office management software. Other features that add to the cost that you may not need include budgeting, double-entry accounting, asset and liability accounting, and tenant background checking. Some features, such as tenant background checking are really done by well-known Internet companies, but the software vendor just buys the service first, and marks up the cost to you. The prices for property management software can range from $100 to $10,000 (or more), so don't buy more than you need. However, if you do buy a version that supports a smaller number of rental units, make sure that you can easily upgrade to the larger version at a reasonable cost (hopefully the difference in cost between that smaller and larger versions) and won't be required to re-enter any of your precious information again.

Underkill: Anybody with some web software can make an impressive looking web site. But underneath may be a piece of junk software. Look at the product, make sure you can run a full demo, and better yet a 'trial version' that allows you to 'try before you buy'. Make sure the software can do the basic things you need: (1) maintain a separate ledger for each Tenant and each Owner (2) write bank checks and deposits (3) maintain a vendor file (4) automatically post rent, management fees, and late fees (4) easily update your information. Make sure the software will handle a mixture of single family homes, multifamily homes, condos, and commercial without having to buy extra modules. Look for the ability to purchase add-ons, such as work order modules, online rent payment modules, or tax related modules -- you may need them in the future as your business grows. Be sure to check the cost!

Then, go for the details

Some things may not be critical in your property management software, but are great to have. These are features, such as a reminder system to keep track of appointments, log conversations and interactions with your tenants, and to pop up a list of tenants and owners that owe you money. Look for the ability of the software to transfer your tenant information to an inactive file, so that you can later look up your tenant info for credit references and to log back payments. Look for features such as the ability to automatically update rent amounts, automatically post amounts to each ledger, and to update your account names. Speaking of account names, you might want to find a software that uses 'real' names for your accounts like 'Rent Received', instead of an account number, such as '300021 - Rent Received'.

Don't take the Technical Support bait

Free Support! Most tenant management software companies don't even offer it, but even if they do, there may be big conditions. Some vendors force you to buy their expensive software updates in order to receive their technical support. Others offer free support for a short period of time then charge anywhere from a dollar per minute (with a minimum amount per call) to well over $100.00 per hour for support. You should get at least a 60 to 90 day free support plan as part of the purchase, but better yet, find an experienced vendor that offers free unlimited support. Yes, there are actually some vendors that back their products with free phone and email support.

Hidden costs

If you spend a frustrating hour doing battle with your property management software, what is that worth in dollars? Difficult, unfriendly software costs you time. And, if you have employees trying to figure out how to do something, you are paying them to read the 2 inch thick manual, and paying again if they have to call for support. Make sure your software program is easy to install, easy to use, and has plenty of help. You should always receive a printed user's guide with the program, a comprehensive built-in help file, and an online help page. Another big cost is the 'update'. Are you forced to buy it even if you don't need the new features? What have the last 5 updates cost the user base? Will you still receive any technical support if you have an older version? These are important questions you should always ask when shopping for property management software.

Follow these simple guidelines, and your property management software will help you grow a thriving and efficient business.

Paul Toller has worked in Real Estate consulting and Computer Software Development for over 20 years. He is co-developer of the Tenant File Property Management Software http://www.TenantFile.com. His latest release is a tenant lease creation software called Lease Designer http://www.LeaseDesigner.com.

Costa Del Sol Property Management

Now that you have purchased a villa or apartment on the Costa del Sol, Spain, you now face another decision: property management or finding a company to look after your property. Whether your villa is in Fuengirola, Mijas Costa, Benalmadena or Marbella, you need to be sure that the property management company will provide you with all the services you require such as maintenance, cleaning, property administration, holiday rental services, building and refurbishment.

Multi Property Services - gives owners of Costal del Sol property who are interested in letting out their villa or letting out their apartment the confidence and piece of mind in knowing that they can gain the financial rewards of short- or long-term rentals while protecting their property and interest. Here are some tips for you if you are looking for a company in Fuengirola, Mijas Costa, Benalmadena or Marbella to manage your property or letting your villa or apartment.

Property inspections - the company you select should check your property on a weekly basis. Inspections should include a check of all plumbing, baths, toilets and making sure all showers are off and all other fixtures are in working order. It should also include an inspection of electrical outlets and small appliances, again to ensure that they are in perfect working order.

Outdoor inspections – includes the checking of lawns, gardens, and the pool for any damage. The rental property management company should make sure that the sprinkler systems and pool filters are working. The company should also regularly inspect for any pests or vermin.

Property administration - The rental property management company will ensure that utility payments, taxes, and other bills are paid in a timely manner. They should also provide you with a monthly report.

Property inventory - the property management company will go through the property with you, making a thorough property inventory and using that as the basis for checking the apartment or villa after guests have departed.

Cleaning services - Prior to the arrival of guests, the rental property management company should arrange to have your villa or apartment cleaned and prepared for letting. Some companies may, for an extra fee, also offer a greet and meet service for guests.

Mail pick-up – Any mail should be picked up from the property and forwarded on to the owner.

When you do find the right rental property management company, then owning a property in Fuengirola, Mijas Costa, Benalmadena or Marbella will be both a personally and financially rewarding experience. To learn more about subjects like costa del sol property management please visit the web site at: http://www.multipropertyservices.com

Georgi Mollov - SEO and Web-Design services - http://www.spainseo.com

Property Management Advice for Landlords

Discover what every landlord should know about finding tenants and why picking the best person is not always as easy as it sounds.

The most important decision any landlord makes is deciding who can live in their property. Who will you, as the owner, allow to live in your investment? This decision is so vital to the profitability of any property investment business and affects the business on so many levels that it?s amazing that some landlord don?t have a formalised procedure to protect themselves from making bad decision.

Let?s think about what we?re actually doing when we rent a property. Instead of thinking of the property as a monthly income generator think of it as a pile of cash. Cash you have tied up in the deposit and purchasing costs. Cash you hope to gain a regular income from through renting and more cash that you?ll receive if you sell the property and realise your capital gains. (Assuming house prices have risen since you purchased). If you include in this the value you place on your time spend finding the property, buying and arranging the rental then we have a very serious investment on our hands indeed.

Now, imagine all that money in real, tangible terms, stacked up in a room in the house and then consider we hand over the keys to someone and say, ?See you next year?. Now we can begin to see how important it is to select the right tenant. Of course, I?m being dramatic and we do have legal safe guards but I hope that by considering your investment in terms of hard cash (like a professional investor) then you?ll treat the question of occupancy very seriously.

There?s more to it than just financials. Not only are we trusting the tenant to look after our investment but we?re also investing our free time with them. What do I mean? If we are managing the property ourselves and not using a letting agent then we have made a serious commitment in time to look after that tenant. If you have a tenant who does not appreciate your property or does not treat it with care and respect then you run the risk of losing your evening and weekends in maintenance and management tasks. What about rent collection? An unreliable tenant who does not pay on time creates stress and worry. Legal protection lets us all sleep better at night but the practicalities of recouping money and legal costs are a headache we do not need and one that?s very avoidable.

Once we know how seriously we need to take the task of finding the correct tenant we can start looking for the very best people. In this case ?best? has two simple criteria. 1) They pay on time and in full 2) They look after the property as if it were their own.

I?m going to discuss three tools we can use to help find good tenants. The first is a long and very comprehensive application form. I ask for as much detail as possible from the tenant. I need all their contact details, ID, proof of current address such as telephone or electric bills, previous addresses and, perhaps most importantly, references from their employer, previous landlord (if they?re moving out of home I?ll ask for their parents? contact details) and a character reference from a recognised member of the community such as a Doctor or Teacher. Importantly, I always act on these references. I will check with whomever they have given to make sure the details are correct and they can vouch for the applicant.

Secondly, I ask for a larger deposit than the usual 4 weeks rent. Typically I ask for 6 weeks rent (UK law give the tenant an automatic option to sublet if the deposit is too excessive, say more than 8 weeks rent). Paying more upfront is usually a good sign that they are serious.

Finally, I have to feel comfortable about the people. If I can get along with them when the property is viewed and when we talk on the telephone and if I don?t have any intuitive alarm bells going off then I trust my own judgement.

At this point you might be wondering about a credit check? Yes this is a great tool depending on the affluence of your potential tenants. Some of my properties are let to people on social security benefits, many of whom I?ve had to help set up a bank account even. In these cases a credit check would not be beneficial but for better off tenants it can be a worth while exercise.

Once we know how to approach the subject of finding great tenants we can consider why people make poor letting decisions. In my experience the worst decisions about tenants are made in pressure situations. An empty property is very damaging to the bottom line of a landlord. If a property is unoccupied it?s very tempting to let the first person who comes along have the tenancy. I know, I?ve made the mistake myself (several times I?m reluctant to admit). This situation is exacerbated if you find your property is not in demand. If you only get one phone call from your advert in the local paper then you?re putting pressure on yourself and your business.

Therefore, the best way to make a good decision is to have a lot of people to choose from. Creating a big list of possible tenants comes from good advertising with good descriptions of you property and its selling points, realistic pricing (even undercutting competition in a renter market) and building a solid reputation as a landlord.

Steve Norton is a landlord with 9 years of experience and owns properties in the UK and Australia. With a clear focus on making the landlord's life as easy as possible while maximising profit more of Steve's insider tips on landlording can be found at Property Management Advice for Landlords.

Some Important Facts Of Property Management.

 

The real estate market, specifically property management market for United Kingdom and Spain, evolves constantly and requires all experience and commitment of management professionals to satisfy the necessities for construction, buys and sale of buildings for more demanding clients every day.

And why I say this? Then, the property market is more and more competitive, actually: new companies are born, the technologies innovate constantly and produce new materials, the geographic breach is not more a limit thanks to the increasing and solid commercial relations generated through the Internet, and the receiving public is allows of competitiveness and quality of the present properties management services.

Therefore, it is strategic and relevant that management professionals fuse in an only quality service those points that the receiving market delay of them. A qualified service that integrates:

? Simple and realistic budgets.
? Projects to the measurement of each one of clients.
? Excellent yield at price/quality relation of project.
? Excellence of external contracted services.
? Flexibility, security and confidence.
? Fluid communication channels.

All these points of property management interrelated to each other and verified throughout the process, to principle to aim, establish a relation that offers clarity and confidence between involved parts.

It fortifies communication channels, it clarify the aims and it is the most effective instrument at the time that it is necessary solve no predicted questions that arise like result of new ideas and modification made during the same project development.

The present challenge is create communication channels between the different professionals from the sector to generate integrating strategies, which satisfy a demanding market.

The constant qualification, the multi-sectorial relations, handling of new technologies, the international projection and a solid position through the time are factors that will contribute to that the management of properties be an integral service more and more sophisticate and attractive.
Eloi Ruart. Chartered Surveyor & Arquitecto T?cnico. http://www.hfpmanagement.com eloi@hfpmanagement.com