Frequently Asked Questions
Find answers to commonly asked questions and learn more about what we can offer you.
Here are the answers:
- Why should I hire you to manage my rental property?
If you lack the time or expertise needed for day-to-day management of your commercial or residential real estate investments, as experts we can help you.
We can help you:
- Market your rental property to minimize vacancies and maximize income;
- Fill vacancies with the best possible tenants;
- Maintain and keep your rental property in good condition (We handle and coordinate routine repairs as well as emergency repairs. We have the experience to avoid unnecessary repairs to save you money);
- Track income and expenses to determine profitability;
- Negotiate rental agreements;
- Collect rent and track tenant deposits;
- Comply with federal, state and local laws; and
- Respond to tenant requests and deal with problem tenants
In short, we help you make the most from your rental property and we can save you time.
- I live far from my rental property. Does it make sense for me to hire you to manage my property?
We can keep an eye on your rental property to make sure that the tenants are taking good care of it.As experienced professionals we tend to find problems sooner and correct them more efficiently. In addition, we often have contractors we work with and trust for various repair jobs, which can save rental property owners money and time.
- Can you help me find and keep good tenants?
Often, good tenants will rent only through a reputable property manager because everything from initially viewing the property, to negotiating and signing the lease agreement, to dealing with maintenance and repairs, to making rental payments is more efficient and streamlined. We focus all of our efforts in finding good tenants through our background check processes.
- Can you help me avoid bad tenants?
Typically bad tenants will target owner-managed rentals because they can't handle our professional services. They know that when a property is for rent by owner the rent will be less and there will be less scrutiny of their financial situation. Because bad tenants can't be evicted without notice and an eviction can take months and cost you money, we will track references and do their utmost to avoid potential bad tenants and associated eviction problems.
- Will you show my property?
Yes. While it may be inconvenient for you to take time to show your property, and to deal with potential renters who may not show up for their appointments, it is our job to respond quickly to requests from potential renters to view a property and property managers can also pre-screen potential tenants.
- Can you help me with administrative and financial details?
Yes. We handle the financial operations of the property, ensuring that rent is collected and that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. In community associations, although homeowners pay no rent and pay their own real estate taxes and mortgages, we must collect association dues.
- Can you help me with upkeep and maintenance of my investment property?
Yes. We negotiate contracts for janitorial, security, groundskeeping, trash removal, and other services. When contracts are awarded competitively, we solicit bids from several contractors and recommend to the owners which bid to accept. Then we monitor the performance of contractors and investigate and resolve complaints from residents and tenants when services are not properly provided. We also purchase supplies and equipment for the property and make arrangements with specialists for repairs that cannot be handled by regular property maintenance staff.
- How do you charge for your services?
Fees are typically paid in one of two ways - more typically percentage fee, and sometimes a flat fee. A flat fee may be more appropriate when the property is a condominium or a type of cooperative complex.