Tag Archives: property management

Considering Buying a Rental Property? Here’s What You Need to Know About Property Managers

25 Wednesday Jan 2023

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If you’re considering purchasing a rental property, here’s the good news: they can be a great investment. But they can also be a lot of work, and some homeowners don’t have the skills or desire to put in the work necessary to both take care of their property and ensure it brings in steady income.

That’s where property managers come in.

A good property manager can bring a ton of value to rental property owners, so if you’re considering buying a rental property, you may also want to consider hiring an experienced, trustworthy property manager.

But what, exactly, do property managers do—and how does that help the property owner?

A recent article from realtor.com outlines some of their main responsibilities, and the value they can deliver to property owners, including:

  • Market your property. Finding new renters can be a hassle. Property managers leverage a variety of channels (including social media, paid ads, and the MLS) to get your property in front of qualified potential tenants.
  • Vet potential tenants. Once they’ve marketed your property and generated interest, property managers will vet all potential tenants (including running a credit check, checking for past criminal history, verifying employment and income, and calling former landlords for references) to ensure you rent your property to qualified, responsible tenants.
  • Perform property checks. If you live in a different area than your rental property, it can be hard to stay on top of the home’s maintenance and condition. Most property managers do regular home checks (typically, once per quarter or twice per year) to ensure the tenants are taking good care of the property—and will report back if any major repairs or maintenance tasks are necessary to keep the property in good condition.

Need a great property manager? Get in touch today! Kevin and Jennifer Hanley, REALTORs The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

Hiring a Property Manager

31 Thursday Aug 2017

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Prop Mgt

One of the most important decisions you can make as a real estate investor is hiring the right property manage for your investment property. The difference between a cash-flow positive property and a drag on your finances can be an experienced, professional property manager.

You should always interview more than one property management company when you’re evaluating property managers, but do you know what to look for in a property manager? If not, these tips will help put you on the right path.

1. Find certified property managers first. Consult the National Association of Residential Property Managers (http://www.narpm.org/) to seek out property managers with certifications and designations.

2. Look for property managers with ten to fifteen miles of your property. You need managers who are willing to be hands-on and local when it comes to managing emergencies and conducting inspections.

3. Make sure your manager conducts monthly inspections. Just because they’re local doesn’t mean they’re up on inspections, so get a guarantee they’ll inspect the property each month.

4. Inquire as to how many properties the property manager currently manages. You want to be sure they’re not taking on more properties than they can handle. It’s important your property remain a priority.

5. Ask what sort of technology they use to help them manage properties. PropertyWare, Yardi, HERO, and Appfolio are some of the leading software packages on the market. Also be sure to check out their website and any social media presence they may have.

6. Be clear about fees. Make sure you understand every detail about the manager’s fee structure.

7. Ask them to detail their screening process for tenants. Don’t be shy about asking them what sort of modifications they’re willing to make based on your preferences.

If you’re new to real estate investing, I’d be happy to start you on the path to diversifying your holdings with real property. Curious what’s on the market now? Get in touch:

Kevin and Jennifer Hanley, REALTORS – The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com