How to interview a property management in Houston in five steps

Posted by on Jul 15, 2017 in Uncategorized | Comments Off on How to interview a property management in Houston in five steps

Whether you own a bunch of rental properties or just have a few that you don’t have the time or resources to manage on your own, hiring a property management company may be the best solution. Interviewing a new property management company can seem like a daunting task, but it does not have to be by following these five steps on how to interview a property management in Houston.

Hold your interview in-person instead of meeting with them over the phone.

Your property management company will act as the frontman of your properties, so you will want to ensure that they look professional, carry themselves well and give appropriate body signals. Seeing how they field your questions will help give you insight on how they will work with your tenants.

Lay out the basic informative questions

During the interview start with some basic questions regarding their company and management experience. This part of the discussion will help to determine if they are a good fit for your particular goals and business style.

  • How many properties do they currently manage?
  • How many years have they been in the business?
  • What type of certifications and licenses do they currently hold?
  • What size of property do they typically manage?
  • What is their staff turnover rate?

Test how they handle tenant concerns

After you complete the basic questions, begin asking them on how they will handle certain situations. It would be beneficial to come up with possible tenant scenarios that you have either encountered before or anticipate could occur and ask them how they would respond and deal with those particular situations. This can include dealing with tenants who are violating the terms of their contract or even troublesome tenants who make excessive requests. It is important to know that they will handle these situations in a professional manner and represent your company in the manner you would like them to.

Discuss how they handle their standard duties

It is important that you know their procedures for handling day to day functions so that you can ensure their process will coincide with your business structure. You may want to ask them what their rent collection or maintenance protocols or procedures are. You will also want to know how they market to and screen their tenants.

Get into the nitty-gritty of their contract

Before concluding the interview, it is important to ask them about their fees and billing procedures. Ask them for all additional fees that may be related to starting the relationship or issues that may unexpectedly come up. You may also want to ask them if they have a copy of the contract that you can look over before you make a decision. This is an excellent way to not only see how honest they were with their fee structure but any disclaimers or other issues that may cause a problem later. The contract should also give you an overview of what is included in their duties and what they will and will not do as well as the hours they will be available to respond to tenant needs.

Make the property management interview process a breeze by following the five tips above on how to interview a property management in Houston.

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What To Expect from Property Management in Huntington Beach, CA

Posted by on Jun 17, 2017 in Uncategorized | Comments Off on What To Expect from Property Management in Huntington Beach, CA

When it comes to property management in Huntington Beach, California, you want a company that is reputable and reliable. The main point of hiring a property maintenance firm is to lessen the workload and stress overload that comes with being a landlord.

While owning a home, apartment complex, condo, or townhouse to rent to others is can be a great income-producing opportunity, you first need the most amazing tenants to rent to. To find tenants that will not destroy your property and will pay their rent on time is not always an easy task which is the reason hiring a property management company makes sense.

A property management company will take applications for the properties you have up for rent and perform background checks on the prospective tenants that apply. The company will complete not only criminal and personal background checks, but will run a financial check also. This will let you know if they have ever been evicted from another property they have rented in the past and if they pay their bills on time. The criminal check comes in handy because the last thing you want is to rent to someone that is not on the right side of the law. By performing these time-consuming background checks for you, a property management company saves you time and in the long run, money.

A property management company can also handle all of the legalities that come along with being the landlord of a property and especially of multiple properties. The firm you hire will the leases with tenants along with other legal issues that may arise such as evictions, lease negotiations, lease terminations, and most importantly, the firm will collect the rent from all of your properties. This becomes even more important if you do not live in the Huntington Beach area or you want to take an extended vacation. The rent from your properties still gets collected and issues with tenants are handled for you, providing a steady income for you without the stress.

When it comes to being a property owner, there are always some types of maintenance or repair issues to handle. A property management company will take care of all of this for you. If a water pipe is leaking, the company will secure a repair person to fix it immediately.

The last thing you want as a landlord is for one of your properties to sit empty for any length of time. This causes you to lose money and puts your property at risk for vandalism or theft. By using the services of a property management company, you can reduce the amount of time it takes to vet prospective tenants and secure a lease with one. Your property management firm will market the property and attract new tenants in a timely manner along with ensuring the property is well-maintained and cleaned for prospective tenants to view.

While you will spend some money in hiring a property management company in Huntington Beach, CA, it will save you money and actually increase your income flow to do so. You will lower your stress level in the knowledge that your properties are secure, well-maintained, and producing income for you without all of the hassles associated with being the landlord of those properties.

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The scoop on property management companies in West Los Angeles

Posted by on Jun 16, 2017 in Uncategorized | Comments Off on The scoop on property management companies in West Los Angeles

Whether you’ve just bought your first property, or already have several properties under your belt, hiring a property management company could be a key factor to your long term success. Not every property management company is the same, and that rings even more true for property management companies in West Los Angeles. In this blog post you’ll learn: what property management companies can do for you, how much property management services cost, the pros and cons of property management companies, and if a property management company is right for you.

Property management companies in the broadest term, deal with tenants and tend to your properties on your behalf. That might seem like an obvious statement to some, but things start to get a little complicated as not every property or tenant have the same needs. These companies help you determine an accurate rental rate, and will also screen and select your tenants for you, handling all the required paperwork in the process. The companies don’t stop there. They can also handle tenant move ins, rent collection, evictions, and tenant move outs. Some property management companies can even represent you in court when settling a legal dispute.

Some property management companies may charge a flat fee, but a large number prefer to charge fees and percentages based on their performance or based on the lease amount of the property. Locking in a definitive number proves challenging with so many variables. Before reading any further however, please realize that similar to any service based company, price alone does not indicate the best option. Some common fees to look out for would be: lease renewals, maintenance fees, reserve refund fees, advertising fees, bill payment fee, eviction fee, and unpaid invoice fee.

The pros and cons of property management companies can be summarized using the last two paragraphs. While there are a number of services property management companies can provide to help your properties run smoothly at maximum efficiency and profit, those services are not done for free. These services can become quite expensive as well. There is no evidence either that you are getting higher quality work for higher priced property management companies. The best balance of pros and cons for these type of companies would be somewhere in the middle. Your wallet may take sometime to adjust to the fees, but the headaches and stress you will avoid by using a property management company may be well worth the price.

There are several important factors in deciding if you’re ready to use a property management company. How many properties do you currently own and manage on your own, and how well do you manage your properties? If you are against the ropes and feeling overwhelmed managing your properties, it’s time to begin using a property management company asap. Another factor to consider is how fast are you able to get your properties rented? If you are doing this slow enough to the point that you are hurting your bottom line, then you may be ready to use a property management company.

Property management companies can greatly increase your long term growth and success as a profitable property owner.

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The Benefits of Comprehensive property management houston firm

Posted by on Jun 7, 2017 in Uncategorized | Comments Off on The Benefits of Comprehensive property management houston firm

Property management is a highly competitive industry that continues to grow and change with each passing year. However, this doesn’t alter the fact that there are certain basic components of property management that never change and will always be trending. Understanding what these components are is an essential part of developing a property management company that will stand the test of time and ride the waves of change while staying afloat.

Screen Effectively

Many of the issues that property managers deal with can easily be eliminated if a tenant is thoroughly screened. Follow a structured screening process that doesn’t discriminate against the protected classes of people and set your standards high. Follow the process set in place.

Put Customer Service First

In property management, good customer service entails many things. Providing quality service requires that all the elements that comprise excellence in customer service be met. However, the elements of excellent customer service are fairly basic. Provide a lease that clearly outlines all the parameters of the rental agreement. Make sure that all necessary details are in black and white and clearly spelled out in the lease. This step presents a clear explanation of what’s expected of tenants. Be fair and honest with tenants and make repairs when you’re supposed to. This will help build credibility and help with the tenant retention. It’s also a good business to make it easy for your tenants to pay their rent by making the process easy by offering online rent payment.

Inspect the Property Quarterly

This is a practice that shouldn’t be avoided under any circumstances. Generally, most properties are going to need some form of repair, either large or small, at least once a quarter. This is why it’s a good idea to inspect your properties at least once quarterly. Even if a contractor performs your maintenance it’s a good idea to follow up because this gives you an opportunity to view and inspect the entire premises. Every property is helped by the benefits of comprehensive property management houston firm.

The foundation of good customer service rests on mastering very basic tasks that are essential parts of good customer service. From inception, thoroughly screen tenants and follow a structured screening process. Be fair and honest with tenants by providing a lease that clearly spells out the details. Plus, make the payment process convenient by providing the opportunity to pay rent online. Know what’s going on with your property by making it a point to inspect the premises at least once quarterly. As a property manager, the more you can do to create consistent predictable expectations the better your tenant retention will be and the fewer problems you will have. Make sure you include all the vital and comprehensive elements of customer service in your approach to the way you manage your properties.

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Why property management Companies in Alexandria VA are in high demand nowadays and what aspiring landlords should do

Posted by on Apr 8, 2017 in Uncategorized | Comments Off on Why property management Companies in Alexandria VA are in high demand nowadays and what aspiring landlords should do

Alexandria VA is a community located in Northern Virginia with a dynamic real estate climate. In the recent years, Alexandria VA real estate state has changed from being a vibrant real estate market for condos and single family homes in 2013 to experiencing a decline in sales of homes. Sellers are getting frustrated with the long wait for a good offer which is driving them into pulling their homes out of the market and even resorting to renting out their homes. This current state of affairs in Alexandria VA’s real estate sector is skewed in buyers’ favor, and sellers appear to be short changed. Therefore; sellers prefer to rent out so that they do not lose money every month while awaiting the home to get a suitable buyer.

Becoming a landlord at short notice can be a difficult thing to get used to for most people. Some of them find themselves in that situation because they need to relocate for work, therefore, making it hard for them to manage their properties by themselves. These are the reasons that necessitate hiring a property management companies in Alexandria VA to do the important work of overseeing the renting of the property for them. The property management companies VA have experienced managers and driven employees who relieve landlords of any stress regarding the operation of their properties.

If you are already in the real estate business and would like to make the most of the current situation in Alexandria VA you are bound to get good money. Here are some tips on what budding real estate investors should do to gain from rentals phenomenon in Alexandria VA;

Find rental properties

One of the best places to find rental properties at a time when real estate prices are stagnating or declining is at foreclosure auctions. Seasoned investors apply the same strategy because they are sure to get a clear and easy to the market title. It is also where you find low priced homes. However, this approach requires you to have significant capital to invest.

Hire property management companies

Specialize in becoming an investor and leave the property management work to experienced property management companies in Alexandria VA. Look for one with a good track record, long history and well organized. Find out whether the company or manager is licensed and bonded. Sign long-term contracts only after the company has earned your trust and proven it can keep its word.

Concealed in rental property management

Check out for the hidden costs or deferred maintenance of rental properties. Delayed equipment maintenance often leads to spending more on maintenance later. A home inspection report usually has this kind of information. Have your property management service provider document the state of a property before move in because they will be crucial during a tenant move-out and lease.

The lease agreement and tenants

It is hard for a landlord to find good tenants on their own. Finding a good property management company in Alexandria VA can be helpful because they find the most suitable tenants for you. The company has a lot of experience in doing this kind of work. Therefore you are guaranteed of finding a good number of tenants that will pay rent on time and rent for lengthy periods. The lease should cover all the necessary details that you would want to be included and the tenants should sign it before moving in.

Buy cheap rent high

When buying property, go for the one that will yield most profits, that is it should be of a high value yet lowly priced. Use deferred maintenance and location to determine the rent rather that cost per square foot. If the house is in good condition and you did not spend a lot of money repairing it, you can consider renting the house at a low price so that you will always have tenants.

Expect to see gains in the long run

If you choose to rent out your home instead of selling it, you are not likely to make instant cash. However, you will see financial gains in the long run because you can enjoy tax benefits in future.

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Why you should hire the best Property management Company in Santa Monica

Posted by on Apr 5, 2017 in Uncategorized | Comments Off on Why you should hire the best Property management Company in Santa Monica

Owning a rental property in a place like Santa Monica is a great investment. But with it comes management challenges. The work may seem easy initially. However, as the business grows, it becomes more emotionally and physically taxing. Handling troublesome and pesky tenants, bookkeeping, filing income returns, and collecting rents are some of the challenges you may face as a new landlord especially with less or no experience in property management. But these factors should not hinder or slow you from taking a leap into the real estate business. By hiring a property management firm, you have all these hassles and worries settled fast and with no strain but with a lot of benefits. Hiring property management firm helps you with;

1. Ensuring timely payment of rent hence a continuous flow of income

For a rental business to be successful, timely payment of rent is paramount. This is crucial as it ensures that your financial plans are not thwarted by defaulting tenants. Hiring a property management firm assists you in enforcing strict rent payment guidelines which are more effective being enforced by the management firm as opposed to an individual landlord whom the tenants may stubbornly disappoint. To this end, property management firms effect evictions on defaulting tenants on your behalf thus reducing the personal altercations that would ensue were you the one trying to effect it.

2. You get professional legal advice.

Having the best property management company in Santa Monica working for you ensures that your business is up-to-date with all the legal requirements. For instance, property managers are well informed about all legal changes with regards to property tax in all states and they will help you settle all the tax issues in time. The management firm also comes in handy when it comes to sealing any legal loopholes that wily tenants may exploit to your disadvantage.

3. Extensive screening of new tenants and clients

If vetting of tenants is not exhaustive, you may end up having tenants with questionable backgrounds. That may put you at loggerheads with authorities, and it might cost you money through lawsuits. A property management firm vets all clients through extensive background checks. This ensures that all those residing in your premises are ethically fit and pose no threat. More so, a management firm will create a data profile on all your tenants and hence, easy tracking if any of them engages in dubious activities.

4. Marketing

Personal marketing of your rental property is time-consuming and cumbersome. In addition, it is slow and might be ineffective especially if you are new in the business and you want your premises rented out fast. By hiring a reliable property management company in Santa Monica, you have a wide reach to the tenant market. Your premises will be quickly occupied, and hence, income generation will be timely.

5. Round the clock maintenance services

When you hire a reputable property management company in Santa Monica, you are assured of timely response and maintenance of your property as requested by the tenants hence ensuring that your property is well taken care of and remains in good shape.

In general, hiring a property management firm is the most prudent measure any landlord can take to enhance efficiency in real estate business. Proper management translates to tenants’ satisfaction which ensures that ensures that there is a good tenant retention rate and hence a steady income generation.

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What to Look for in Fairfax, VA Property Management

Posted by on Apr 1, 2017 in Uncategorized | Comments Off on What to Look for in Fairfax, VA Property Management

What to Look for in Fairfax, VA Property Management

If you own an investment property and are searching for Fairfax, VA property management, there are several things you should consider. You want a property manager who will collect rent and other fees, deal with any day-to-day issues and generally look out for your best interests, as an owner. Here are some tips to help you find the right property manager for you.

Tip One: Get Referrals

Rather than simply selecting someone at random from the phone book, you should seek referrals. The real estate agent who helped you purchase the property may be helpful in seeking referrals. It’s also a good idea to search the Better Business Bureau and the Real Estate Commission to ensure there are no complaints on file against a potential manager.

Tip Two: Meet Potential Managers and Notice Any First Impressions

Once you’ve gotten a referral, meet a potential manager in person.

  • Is he or she professional and well-spoken?
  • If you were a prospective tenant, would you want to rent from this manager?
  • Does he or she seem organized and courteous?

Tip Three: Find Out How the Manager Handles Vacancies and Advertising.

Some important questions to ask include:

  • Where does the manager advertise vacant homes? Are advertisements placed in newspapers and websites?
  • What is the average time it takes the manager to find tenants?
  • How many vacancies does the manager have at any given time?
  • What kinds of signs does the manager place on the property?

Tip Four: Look Closely at the Manager’s Web Site

Some important considerations include:

  • The overall look, design, and feel of the site
  • The features offered by the site
  • Whether you, as an owner, can login and view your account
  • Whether prospective tenants can easily find a list of vacancies

Tip Five: Review the Tenant Lease Agreement Used by the Manager

Some important questions include:

  • How much security deposit is required of a tenant?
  • How is late rent dealt with? Are the consequences made clear to a prospective tenant?
  • Who should the tenant call with any problems or questions?
  • What is the monthly rent, and what is the length of the lease?

A property manager should be able to explain to you what an appropriate amount would be to rent or lease a particular property. He or she should be able to point to comparable rents on similar properties to explain how this figure was reached. As an owner, you want to make as much as you are able on your property, but if rent is higher than the comps suggest it should be, the property will likely sit vacant, giving you no income at all.

Finding the right Fairfax, VA property management takes time. But the time you invest researching and getting to know your manager will pay off because you will likely have fewer problems down the road. Perform your due diligence, knowing that your investment is worth it.

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