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Run your Business, Run your Life,
From wherever you are -Right Now-
Using your Palm-Powered Smartphone
Editor & Publisher: Robert Lett
http://www.robertlett.com

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* Announcements
* Real Estate Professional I. By Robert Lett
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This newsletter will give you tips and hints on using your handheld Smartphone in place of your PC or laptop.
Have all your important files with you, 24/7.
Be productive, anywhere - anytime!

Issue: 19
01 March 2005

Feedback: Please email us with any comments or suggestions on what you want to see in your ezine at: quest@robertlett.com
I just want to see if all 121000 of you are really reading this ezine, thank you for your time.

Robert Lett eBooks
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Torrance, CA 90503
http:www.robertlett.com

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Real Estate Professional I.
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GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATE
If you own rentals and/or investment properties, you know that you have to keep track of your portfolio, maintenance profiles, property managers, and related financial matters. There are a multitude of programs for the Palm-Pilot system to keep up with lease dates, lease expirations, and rent due dates. They will let you know when to send late notices and how much the late fees are for each rental you have in your list. Most of these programs will also alert you when you have a lease that will expire within the next two months, this allows you to prepare a new lease contract or plan the repairs and marketing for the unit. They'll even give you yearly totals spent on property management fees and maintenance fees, and bounce those amounts against your rents collected. This will give you an idea of how the property is performing. Some will even "conduit" to your computer when you HotSync, which allows you to create Excel spreadsheets for the data produced.

These programs will also store information associated with each individual property, such as who the handyman is for that property, warranty company contact information, insurance information, and tenant contact information. Most programs out there will allow you to log and track the Gross Scheduled Income (GSI), Gross Operating Income (GSO), Net Operating Income (NOI) and Cap Rates for each property in your portfolio.

A few programs that you might try, you'll have to figure out which one is best for your current situation. There are many more, just search around on www.palmgear.com and you should be able to find exactly what you need for your own rental and leasing situation:
Rental Manager 2.16. This program is great for vacation rentals! Keeping up with availability, accounts receivable, reservations, reservations not confirmed, and dates of expiration.
Rentulator 1.01. Is a free program that allows you to enter the price of the house or condo and the percent you would like to earn, and the program will calculate the rent you would need to collect for that situation. You will need to calculate total debt service and other factors before punching them in, but the program will tell you what you need with the correct amounts plugged in.


LANDLORDING
Most properties in my portfolio I have property managers that collect rent and inspect the units. On those properties that I manage myself, when a tenant calls with a problem, all I have to do is decide whether it requires the warranty company, just a quick fix by a handyman, or if I'm in the area, I might just run by and take care of it myself. All the information is right in front of me, regardless of where I am at the time of the call.
From experience, I can predict that whenever my tenants call, I won't be anywhere near my PC or file cabinet! Fortunately, with your Smartphone, you won't ever have to go to your office to access your files again. Sounds nice, huh?

Have all your important files with you 24/7, 365 a year!

Find anything in your portfolio in seconds, anywhere - anytime, send an email with "ebook" in the subject to receive a free version of the ebook at: ebook@robertlett.com

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