An inside look at the property management facet of our business.
As a full-service real estate company, we feel blessed to do such a wide variety of things. Have you ever wondered about our property management side? If you’re a real estate investor, having a property manager can make a world of difference, and we’re happy to help. To help you understand a little more about this facet of our business, we’re here to answer some common questions.
Many people have asked us how we advertise a rental property. About 97% of people find their place online, so it’s important to lean into that. We use our website a lot, and we have management software that sends properties to a plethora of websites. Plus, we use social media, of course! There are a lot of great ways to advertise online, and luckily, they’re not expensive.
Another question we get asked a lot is how we determine if someone is a good tenant. It makes sense that people would worry about this, as this can decide whether or not your rental application gets accepted. First, we look at your credit and rental history, then do an ID verification to ensure that you’re not having your friend vouch for you or anything like that.
“Having a property manager can make a world of difference.”
When we look at a tenant, we consider three things: income, credit, and rental history. We believe that the third one is the most important because if someone has done well with renting in the past, it’s very likely that they’ll do well now. Plus, we like to look at the full story. We once had a client whose credit history was bumped because of one medical emergency he had to pay on, so we knew that we didn’t have to take that one bad mark into account as much.
The last common question that we wanted to bring up was how we do a rental market analysis. First, we want to make sure that we’re comparing apples to apples instead of apples to oranges, meaning we make sure to take into consideration when the property was created when that rental price was last changed, the area that it’s in, and so much more. Finding reputable comps is vital to performing an accurate market analysis.
If you have any questions about property management or if you need our service, feel free to reach out. If you’re ever interested in investing or want to talk about building a portfolio, we can also help you with that! Know that you can always call or email us if you need anything. We look forward to hearing from you.
