Owner FAQ #1
Q: Why should I hire a professional management company?
A: If you lack the time or expertise needed for day-to-day management of your commercial or residential real estate investments, an expert property manager can help you make a big difference in your investment success.
A property management company can help you:
- Research comparable rental properties to determine the highest market rent possible
- Place sign and aggressively market and advertise your property
- Show property to potential tenants
- Avoid bad tenants and find and keep good tenants through proper screening
- Obtaining the highest market rent possible for your rental property
- Provide a timely turn around of your vacant properties
- Collection of security deposits and monthly rents
- Preparation of lease contracts for your property
- Upkeep and maintenance of property with in-house maintenance or contractors
- Administrative and financial duties
- Annual inspections to minimize any problems that may arise
- Move-In/Move-Out inspections of your property
- Preparation of monthly and annual statements for your property and disbursements
- We are a full service management company. We handle the process from start to finish.
Q: How much are management fees?
A: It seems there is a new property management company starting up every day, trying to beat everyone else’s prices. Our management fees are very competitive. We charge a fair fee for a tremendous service. For example, we believe that resident selection is very high on the list of priorities. A poor resident can cost you thousands of dollars. We are experienced and committed to finding the best resident for you at a competitive rent. We will get your property ready for showing, interview applicants, collect rents, make repairs, and help with an eviction process if needed. When ALL expenses are considered, we are generally the same as other companies. Other fees that could be charged outside of this monthly commission could be a new lease fee, early cancellation of contract, advertising costs, and costs for any repair work.
Q: How much will my investment property lease for?
A: Your lease rate is going to be determined by several market factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. Unfortunately, the markets that dictate lease rates vary vastly from the markets that influence value of properties. Please contact our office and we can
discuss this with you as it relates to your property.
Q: How will you find tenants for my property?
A: A Property Information Sheet will be prepared for your property with all the necessary information before marketing the property. Then, your property, along with photos, will be advertised on hundreds of websites and we will place a yard sign on the property.
Q: When does an owner get his/her check?
A: We make every effort to insure your funds are received around the 15th of the current month. Direct deposit of any owner’s monthly check is available at no extra charge. In addition, we include an itemized accounting statement.
Q: How often will I hear from my property manager?
A: Would you prefer to hear from your property manager every time something occurs with the tenancy or would you prefer them to handle situations with your best interests in mind? Let us know of your expectations to avoid confusion. Also discuss your preferred method of communication – is it by email, your home phone, your mobile?
Q: How often are inspections done at my property?
A: Before a new resident moves into your property, we will complete a detailed move-in checklist with the resident, which provides written documentation as to the condition of your property. Thereafter, each year we send a written notice to our tenants to conduct a safety and maintenance inspection. During this inspection, the inspector will make sure the smoke alarms work, test for plumbing leaks, check the caulk and grout in the bathrooms, examine the exterior painting, and much more. We will complete an inspection report. The report and color pictures will be uploaded to you as they are completed via an electronic sharing account.
Q: Who handles the middle of the night calls?
A: We do! Residents can contact us 24 hours a day and 7 days a week to respond to emergencies. Why worry you? That’s why you hired us! Most emergencies are prioritized and often can wait to the next day. We will talk with the tenant to determine how to proceed.
Q: Can you start managing my properties today?
A: Of course! We can start the process immediately. To set up a no-obligation consultation to discuss your property in detail, please Contact Us.