Five Questions We Get Asked Most Frequently
1. What are your prices?
2. How do we handle repairs?
3. How long will it be to get the house leased?
Of course there are many variables that determine this. Such as, time of year the property is put on MLS for rent, competition, price, and condition of the property. The average for the area as determined by MLS is consistently around 43 days. Typically we beat that average.
We use National Tenant Network for screenings. This is a complete background check that searches national records. We look for prior evictions, judgments, felonies, and credit is of course also factored in.
5. When will I get paid?
You will likely receive payment about ten days after the tenant pays us. We have no interest in holding your money and we pay it to you immediately upon that payment clearing.
This is by far the most common question we receive. Many times it’s the only question that a landlord asks. Focusing solely on price is a MAJOR mistake by the landlord. The management of your rental property is not something that the landlord should skimp on. You always get what you pay for and at first glance a property manager with an inexpensive rate is a bargain. We have been in business for 23 successful and continuous years. That’s not an accident. That is the result of offering premium service and knowing our competitions pricing. The managers that advertise free months of management fees or ridiculously low leasing fees are pricing a la carte. They will charge you for doing inspections, lease renewals, set up fees, cancellation fees if you want to cancel, and the list goes on. We have had owner’s pay a $1000 cancellation fee in order to get out of their contract with a poor performing property manager. We have a zero cancellation fee. We are not afraid of being fired because it’s never happened before! The cheap rate managers may also not be putting the house on MLS for you, and in some cases I’ve even seen managers make up for their cheap rates by charging the tenant a $200+ “admin fee” or a monthly “admin fee”. I’ve been hired by owners that had their house sitting vacant for months. Upon investigating they were charging the tenant a $300 admin fee. That’s not something that helps in getting your house leased. We leased the house to a great tenant just a week after taking over the property. Our prices are 10% of the collected monthly rent, and a $750 leasing fee when the property goes on MLS. From that $750 we pay $400 of it to whoever brings us the tenant. The $400 we offer as commission to the other agent is typically quite larger than what the other manager’s offer ($200 to $300). Therefore, when listed by us your house is going to be shown more and likely to be leased quicker. If you don’t think that other agents look at the commission amounts offered before showing your property, you are greatly mistaken.
We’ve taken over many properties that the owner thought that repairs were not handled correctly. Some of those problems might be an overzealous manager, a dishonest manager, or even an unresponsive manager. If currently managing the property yourself, you may just not have the time or contacts to handle repairs effectively. We have exceptional subcontractors that are fairly priced that we use and you will benefit by using those. Managers that have employees that they use for repairs, usually mark those repairs up to gain financially from your problem. While we lived in Missouri we owned five properties here and that’s exactly what our property manager was doing to us. We will never mark up a repair and we also contact the owner via email for every repair no matter the size of cost for their approval before completing.