Successful real estate agents need an experienced property manager with proven history of integrity and accomplishment. We can help a successful real estate agent build their business serving their investor clients. Many seasoned Realtors and agents create a power partnership with a good property management company. It can provide big returns from repeat sales and happy investors. Your investor clients will work with us while rented and then when they are ready to sell you will be their agent. A good property manager will keep your clients happy owning their investment properties. Here is why.
Tenant screening is like a security gate around a palace. While most rentals aren’t a palace, a bad tenant can be a threat to the cash flow and condition of the property. Once they are in their removal is a real hassle. Our procedures are designed to not accept them in the first place. A thorough screening process results in tenants that pay on time, stay longer and generally cause less problems.
An experienced property manager and management company has seen thousands of applications. We know how to quickly find the real facts about candidates and analyze the information looking for the red flags. By allowing a management company to handle the screening, you will also be shielding yourself from rental scams directed at owners, and discrimination lawsuits resulting from an inconsistent screening process. This kind of experience takes time, and insomuch as it means avoiding bad tenants, scams and lawsuits it is arguably one of the most significant benefits a property management company will provide.
Fewer legal problems handled Quickly and for Less Cost
Veteran landlords know it only takes one troublesome tenant to cause significant legal and financial headaches. A good property manager is armed with the knowledge of the latest landlord-tenant laws and will ensure that you are not leaving yourself vulnerable to a potential law suit. Each state and municipality have their own laws, these plus federal law cover a number of areas including but not limited to:
- Tenant screening
- Safety and property conditions of the property
- Lease addendums
- Terminating leases
- Handling security deposits
- Rent collection
Avoiding a single law suit can more than pay for the property management fees, and spare you time and anguish.
Shorter Vacancy Between Tenants
We will help you perform three important tasks that affect how long it takes to fill your vacancies:
- Recommend improvements and prepare the property for rent – We will recommend those details and oversee cosmetic improvements that maximize revenue.
- Evaluate the market to find the best rent rate – Too high and you are stuck waiting, to low and you’re losing money every month the tenant is in the unit. Determining the optimal price requires knowledge of the local market, data on recently sold comparables, and access to rental rate tools.
- Market your property effectively to a broad audience-Our property management software syndicates with a large network of advertising websites. We have written 1000’s of ads and understand what to say in order to get a larger pool of prospects quickly. We use an automated showing system that tracks every viewing and seeks feedback from every prospect.
Tenant retention is Higher
Lost Rent is an investors greatest expense and there are other serious problems with a high tenant turnover rates. The process usually requires a thorough cleaning, changing the locks, painting walls and possibly new carpet or small repairs. There are leasing costs also associated with marketing, showing , screening and settling in a new tenant. By keeping tenants happy and well cared for they will want to stay.
A good property management company will implement a program following a consistent, systematic approach.
Rent collections and late payments can mean the difference between success and failure as a landlord. Collecting rent on time every month is the only way to maintain consistent cash-flow. Tenants must understand this is not negotiable and the management company policy must reflect this. By working with a property manager your clients will have buffer between them and the tenant. We may listen to excuses but not let them sway us and when necessary, evict the a tenant that does not deliver on their promises.
A good property manager has an advantage because tenants realize that they, unlike the owner, are only doing their job and are obligated to enforce the lease terms.
There are strict laws governing the eviction process. We know how to do it right. A good property management firm knows the law and will work to obtain the best possible outcome.
Accurate Accounting Records
A property management company have the necessary forms and documentation to make those legitimate expense claims. Property management fees are tax deductible.
Maintenance and Repair Costs
Good maintenance and repairs keep tenants happy and preserve the value of your investment. We have qualified repair experts that guarantee their work. Our network of licensed, bonded and insured contractors have already been vetted for good pricing and quality work. This can mean significant savings compared to trying to hire an unknown handyman.