WHY HIRE A PROPERTY MANAGER?
Because Being A Landlord Is Not As Easy As You Think...
If you've owned income property for any length of time, you know that managing a rental can be financially rewarding. At the same time, you've also likely discovered that property management requires a large commitment of time and effort.
While it may make sense to take the do-it-yourself approach if you're a handy person, live close to your property, and don't mind devoting several hours per month to the task, in many cases this just isn't practical---especially if you hope to expand your business. With this in mind, here are some critical tasks a property manager can help you with:
- Setting the right rental rates: While looking through the classifieds to see what other landlords are charging for similar properties is a fine way to ballpark your rent price, we will conduct a thorough market study in order to set a rental price for your property, ensuring that you achieve the perfect balance between maximizing monthly income and maintaining a low vacancy rate.
- Collecting and depositing monthly rent payments on time: If you've ever worked in a billing department, you know that securing payment from clients can be difficult, not to mention awkward. We have efficient, tried-and-true systems in place to effectively collect rent and maintain on-time payments. You'll find this particularly important if you have a limited number of properties, and collecting payments on time is crucial to maintaining your cash flow.
- Property management takes a certain type of person. Think about it. Dealing with upset tenant, juggling phone calls, showings, marketing, evictions, rent collection, networking, owners, signing on new owners, making sure owners get their checks, paying contractors, scheduling contractors, and on and on and on.
- Marketing and advertising your property:We are on the leading edge of modern advertising. Most people begin their rental search online on the top rental finder sites. We advertise on them on a daily basis and already have the platforms set up to begin advertising your property immediately. We also have access to advertise your home on the Multiple Listing Service, only available to Realtors. PLUS we have an advantage you do not - since we are the best known property management firm in this area, people call US on a daily basis asking for rentals.
- Finding the right tenants: We are experts at finding good tenants, and will take care of all the details, including running credit reports, verifying employment, and collecting previous landlord references.
- Managing tenants: In addition to finding good tenants, a we will manage all aspects of the tenant-landlord relationship. The property manager will handle both routine and emergency maintenance, take care of routine inspections, and manage any situations where conflict resolution is required.
- Managing vendor relationships: We have relationships with maintenance workers, tradesmen, contractors, suppliers, and vendors that it's almost impossible for an independent landlord to duplicate. Not only will your we get you the best work for the best price, they'll oversee any necessary maintenance projects. Because we give these vendors a lot of business, they respond to our calls a lot faster.
- Ensuring that you're in compliance with housing regulations and property laws: There is a multitude of applicable laws and regulations to abide by when renting and maintaining your rental property. These include local, state and federal regulations, as well as fair housing regulations (such as the ADA). A property manager can help you avoid lawsuits by keeping your property up-to-date and in compliance with these regulations.
- Enabling you to invest in geographically distant properties: If you manage your own properties, you're pretty much limited to investment opportunities within a tight radius of your own home. By hiring a property manager, you can take advantage of investment deals in any location you wish.
- Maximizing the profitability of your time: By having Parkhill Realty take care of the day-to-day aspects of running your income property, your free to spend your time identifying further investment opportunities or otherwise furthering your career.
- Maximizing the profitability of your money: Most people are hesitant to pay a property manager a commission, until they have tried managing on their own. They quickly realize that the time and money lost in vacancy due to poor advertising, lost income due to poor tenant placement, and the hassle of showing the property and doing their own repairs is actually more costly than a small commission.
STILL NOT SURE? We Have Three Options to Suit Your Needs:
PROGRAM #1: Parkhill Realty seeks a tenant only. We do all the advertising, showing the unit, take and process applications, draw up and execute the lease, collect first month's rent and security deposit, and forward the paperwork and monies due to you. Your cost? An initial flat fee. From that point on all complaints, repairs, rent collections, and lease extensions are your responsibility with no further commissions charged.
PROGRAM #2: Parkhill Realty seeks a tenant and collects all rents, OWNER handles all complaints and REPAIRS. It contains all of the features of program #1 plus tenant management (rent collection, lease extensions, placing security deposit in local bank, eviction if necessary). In other words, we do it all but repairs! You simply get your rent check minus any commissions. Your cost? The initial flat fee plus a monthly commission.
PROGRAM #3: Same as program #2 except as follows: Parkhill Realty does all repairs under $500.00 without the Landlord's permission. All repairs over $500.00 must be approved by the Landlord in writing, unless an emergency situation should arise where repair must be immediate. This program works for owners who do not like to do their own repairs.We will call our own preferred vendors or use our in-house maintenance personnel to handle repair calls.
DO you have 3 or more units that need management? Ask us about our discounted commission rate for multiple units.
CALL US TODAY to discuss our management programs. We can do as little or as much as you want. (610) 863-7070
PROGRAM #1: Parkhill Realty seeks a tenant only. We do all the advertising, showing the unit, take and process applications, draw up and execute the lease, collect first month's rent and security deposit, and forward the paperwork and monies due to you. Your cost? An initial flat fee. From that point on all complaints, repairs, rent collections, and lease extensions are your responsibility with no further commissions charged.
PROGRAM #2: Parkhill Realty seeks a tenant and collects all rents, OWNER handles all complaints and REPAIRS. It contains all of the features of program #1 plus tenant management (rent collection, lease extensions, placing security deposit in local bank, eviction if necessary). In other words, we do it all but repairs! You simply get your rent check minus any commissions. Your cost? The initial flat fee plus a monthly commission.
PROGRAM #3: Same as program #2 except as follows: Parkhill Realty does all repairs under $500.00 without the Landlord's permission. All repairs over $500.00 must be approved by the Landlord in writing, unless an emergency situation should arise where repair must be immediate. This program works for owners who do not like to do their own repairs.We will call our own preferred vendors or use our in-house maintenance personnel to handle repair calls.
DO you have 3 or more units that need management? Ask us about our discounted commission rate for multiple units.
CALL US TODAY to discuss our management programs. We can do as little or as much as you want. (610) 863-7070