What do Property Managers do?
Agent for the landlord (owner); prepare properties for renting; inspect properties before, during, and after a lease term; market properties; make properties available for prospective tenants to view; receive applications; screen applicants; coordinate lease signing and lease renewals; maintain the investment property; provide administrative and financial property management; for apartments, provide on-site leasing, maintenance, and management services; log correspondence in the property management system; correspond with owners and tenants; coordinate utility payments during the make ready process.
How do Property Inspections work?
Regular inspections of the property are completed by the property manager when taking on the rental, midway through a lease term, and when a tenant moves out, and any other time as requested by the owner. Periodic inspections are recommended to determine preventative maintenance due and to gauge the extent of tenant damages (if any) to the property.
How much are Property Management Fees?
A property management company will get your property ready for showing, interview applicants, collect rents, make repairs, and help with an eviction process. Typically you are charged a flat fee per month or a percentage of the monthly gross rent for these services. Percentages could range from 5% - 15%. Other fees that could be charged outside of this monthly commission could be an initial setup fee, lease renewal fee, early cancellation of contract, advertising costs, and costs for any repair work.
How will you find tenants for my property?
Your property, along with photos, will be advertised on our website and in the Multiple Listing Service (MLS), and on various online home directories. We also thoroughly screen applicants. A yard sign may be placed on the property. A Property Information Sheet will be prepared for your property with all the necessary information.
What are the most common mistakes made by investment property owners?
Purchasing property in poor condition, requesting a rent amount that is too high, not keeping an open mind regarding applicants, not addressing tenant concerns in a timely manner.
What is usually looked for in tenants?
Stability of employment - this will give you an indication of whether the tenant will be likely to stay for the nominated lease period and whether they will have the funds to pay for it; good credit history - ability to pay the rent; avoid over crowding - ask about the number of people who will be living in the property. Over crowding can cause excessive wear and tear; proof of identity - ask the property manager to take a photocopy of a drivers license; etc.
Who handles the middle of the night calls?
We do! We are on call 24 hours a day. Why worry you? That’s why you hired us! Most emergencies are prioritized and often can wait to the next day.
How often will I hear from my property manager?
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? Advise the property manager of your expectations to avoid confusion. Also discuss your preferred method of communication - is it by email, your home phone, your mobile?
Why should I choose your company instead of another?
We research comparable rental properties to determine the highest market rent possible for your rental property. We provide a timely turn around of your vacant properties so they can be re-rented quickly. We seek to obtain the highest market rent possible for your rental property and provide a timely turn around of your vacant properties so they can be re-rented quickly.We handle all tenant calls for maintenance, supervising and inspecting all major repairs of the homes, and thoroughly screening all applicants to provide the most qualified tenants possible.
How much will my investment property lease for?
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 space 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 specific property. Ask us how much you could expect in rent.