Real estate investments, like any other investment produce better results when managed by a professional. After all, why take chances on an investment valued at hundreds of thousands of dollars and upwards. One must be careful when hiring a property manager, however. For every top notch property manager out there, there are twice as many that have a lack of scruples or maybe even just a lack of knowledge. Either way, mistakes they make will cost you money. Is your property going to be handled with top priority? Will your property manager be attentive to your questions and concerns as well as tenant inquiries? Will they treat your money with the same care and consideration that they would their own?
Keep an eye out for these qualities:
Clear Terms. The terms of your management agreement should be well defined and easy to understand. Your property manager should take the time to make sure that you understand every aspect of the Contract that you sign with them as well as the tenant lease and contractual terms. You should be well informed of what is including in the management of your property as well as all the steps performed through the leasing process. A trustworthy professional will always be happy to take the time to answer all of your questions and address any of your concerns. The Ron Sawyer team is going to go over everything from day one in an attempt to have you well informed from the very start.
No hidden costs. Industry standard dictates that a leasing fee and management fee be charged. Any additional fees should be declared and explained to your satisfaction. Our fees can be based on a percentage of the rent as well as a flat monthly rate. Many smaller companies and “one-man operations” may offer a decreased management fee. Be very careful of anyone offering service below the standard rates. Many times these property managers will have to cut corners in order to honor the low prices they boast. Mistakes they make will cost you money. The Ron Sawyer team takes pride in offering competitive rates for the highest level of service available.
Transparency. Some owners want to hire on a property manager and never think of the rental again until it is time to receive a rent check. Others want a good bit of involvement on any decisions being made for their property. Regardless of your desired level of involvement we can accommodate you. You will be granted access to an online account where you will be able to check financial reports, monitor the status of work orders or communicate with your property manager 24 hours a day. We will be keeping you up to date on any showing activity, marketing updates, lead volume, application status and overall property condition through our quarterly interior inspections. We want you to have as much knowledge of the state of your investment at all times.
Honesty and integrity. There are many property managers throughout Hampton Roads. Unfortunately, Property management is an unregulated industry. It is crucial that you can verify the qualifications of whoever you trust with your investment. Our dedication is to provide the highest quality property management service available with a focus on honesty and integrity. You deserve it!
