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Property management Guide
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Rental Property Management
Residential property management, rental property management office,
rental property management company
To lessen your stress and save time you can choose a rental
property management to look after the rental properties management
so that you have ample time to look after other projects and be free from
worrying about these rental properties. The rental
management will take care of all the problems and you will
be free to carry on with your work. Before hiring a best property manger
make sure a few points are clear.
Make sure that the fees they charge is reasonable. Usually they charge 4%
of gross rents fro larger buildings to as high as 12% for single family
homes. Talk about the fees before handing over the charges to the manger
Know about the other properties they are managing and how they are maintained,
whether they are up to the standard. Sometimes they take the money and don’t
take good care of the property. It is better to pay a visit to the other
properties being maintained by the manger.
See to it that one experienced
person manages the property. Get the name of the person who
will be managing your property and make sure he alone does the job.
See what other extra charges are being charged apart from the percentage
they take. Do they charge for eviction of dishonest tenants or any other
maintenance cost they will be charging can be enquired.
How they will collect the fees? Do they deduct from the rent or do they
take directly from your account and if so how often they take the money
whether quarterly, monthly or annual.
Ask them how they will advertise the property on the papers or in the TV
or in the radio or in the internet and how much they charge for advertising
purposes.
Make sure how much they charge you for cleaning the premises once vacated
by one tenant and the next one occupies. Ask them how long will it usually
take for the next tenant to occupy the premises normally. This can not be
predicted exactly as it depends on the situation at that moment.
Tell them to consult you before making any decisions and assure the expenditure
with you and proceed with your permission since it is your money that is
involved.
See when the person concerned will be available and if anybody will be there
to cover him during his absence and on week ends.
Make sure they send a report of the income and the expenses every month
so that you get to know what is really happening.
Since the property management takes over all the problems from renting out,
collection the rents, taking care of the property, and vacating the tenant
and bringing a new tenant, you can relax.
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