Will I have an assigned representative for my property?

Attribution: https://www.flickr.com/photos/125303894@N06/

An assigned representative will work directly with you and know everything going on with your property.

Will I have an assigned representative to deal with me and my property? This is a big issue because not all property management companies offer this.

Yes. Our property management company has a system in place where the managers split the properties between them. Those managers are responsible for your success. You can call them with your questions or problems, and they will know about your properties and be able to get you what you need.

A lot of larger property management companies use a call center that directs property owners to different departments, where the person they talk to may or may not know their properties.

We still have departments, but your manager will be responsible for your properties. These is also a 24-hour call center, but this is used to be always available. Our company works to streamline everything we do to make it easier.

A lot of our property owners are out of the area. It makes them angry when they have a question that no one can answer. They want to know what is happening with their properties. Not only will you have a manager, but you will also get weekly updates. All of our property owners receive weekly reports showing what is happening with their properties. Reports also cover the collected rent and money spent.

Many of the processes we have in place are to make our property management run more successfully.  Even if they are unfamiliar, we encourage landlords to trust our systems and call when they have questions.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

How many times do you inspect my property?

Regular inspections protect you from serious damage.

If you start asking around, you will learn that people in the business have some very strong opinions regarding the effectiveness or benefit of doing more than just move-in and move-out inspections.

Personally, I believe more is better, or at least they can’t hurt. Doing an inspection while people are living can be tricky because there is only so much you can do about what you see. Some would argue you can’t really do anything.

For example, if you are in an apartment and see that the tenant damaged the paint, you now know that you are going to have to repaint regardless of how long the tenant lives there, so instead of pushing for an eviction due to damage, you really want them to stay as long as possible.

However, there are other kinds of damage that it is a benefit to catch it early. For example, if you are in the apartment and notice signs of water damage that were not there before, you can investigate it further and make needed repairs. If unchecked, a water leak or other source of water damage can cause a great deal of expensive damage. While one would hope, if there was a water leak, the tenant would call and report it, you can not assume that will be the case.

I think it is best to inspect properties before summer and into late fall. These are the times when you should be changing out furnace filters anyway, so it would be efficient to also use these opportunities to conduct an inspection. Doing them twice a year is enough to ensure that nothing gets out of hand.

We are currently looking at ways to offer property owners a package they can pay for to have these regular scheduled inspections conducted on their properties. We are still working on a way to offer this additional service in an organized, logical, and cost effective way. If you have any questions regarding having more inspections conducted on your properties or just want to discuss it further, please feel free to leave a comment or contact us directly.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

 

What are your maintenance fees?

As Cleveland, Oh property managers, we understand the role proper maintenance plays in tenant retention.

Finding out what a property manager charges for maintenance is vital. You also need to know  requests are handled before entering into any kind of agreement. Property managers may differ wildly on how they handle maintenance issues and charges.

The first question for us is “Is there an actual maintenance problem or just tenant complaining?” When repairs are needed, we forward them to the owner, so there are no surprises.

We’ve tried working with outside people, but we found we were not completely happy with that. There was always the risk that the work was not getting done or not getting done to our standards. Outside maintenance was also very expensive. For those reasons, we work with an in-house maintenance crew.

The more we use the same people, the more we trust them and the better they understand our expectations. We also have more control over what they did, when they worked, and the amount spent on repairs and upgrades. Being able to control costs, allows us to pass that savings on to our property owners.

We’ve been able to help with costs when mistakes are made. We stand behind our guy’s work, and we believe we’ve been able to balance quality and cost.

If tenants feel the property is not maintained and their concerns are not addressed, they will move. That creates a significant cost to the owner. We do our part to take care of the properties and keep the tenants happy.

We have set maintenance costs. I won’t go over that here because they change periodically.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

 

How are you insured to do property management?

This is actually a question we do not get asked a lot, but we should be because it is important to know what kind of insurance your property manager has. We deal with a lot of high liability issues on a regular basis, so it is important to have that protection in place.

We have two types of insurance: general commercial liability and errors and admission.

  1. Errors and admission insurance is if we make a mistake.
  2. General commercial insurance has a much broader umbrella and covers most things not covered with the errors and admissions insurance.

While it is important for us to be properly insured, it is still essential for the owner to have proper insurance.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

Will I have to get up in the middle of the night for an emergency?

No more middle of the night phone calls from tenants.

I assumed this was a given, but apparently there are property managers that do not offer 24-hour services. To answer the question simply, no. You will not have to get up in the middle of the night for an emergency.

Our property owners do not have to get emergency phone calls during the night. They do not have to get up to deal with anything. The only way you will get a phone call is if you request a phone call in the event of an emergency. Otherwise, we have a 24-hour answering service and direct dispatch. We will take care of all emergencies.

Our representatives have protocols to follow that address a wide range of emergency situations. This allows us to  also avoid middle of the night dispatch all together. For example, if a tenant calls during the night because there is a water leak. Our representatives will give them step-by-step instructions on how to turn off the water and will stay on the phone with them to ensure it happens. Then, in the morning, the leak can be addressed.

This saves a great deal of money since middle of the night phones calls to professionals are much more expensive than calls made during the day, and it is less stressful and more convenient for everyone. As usual, if the job can be done by someone on our maintenance staff, it is and the usual maintenance fees are applied.

 

How many units do you manage?

Our systems which are infused with the character and principles of transparency empathy and education are what will allow us to keep the promise of “delivering peace of mind”.

When you look at a property management company, there are a few questions you should ask. This will give you a better idea of the level of service you can expect. I am regularly asked how many units we manage, which is a good questions. However, there is more to that question that you really want to know.

Instead of knowing the number of units, you want to find out what the ratio is of people to units. You also want to know what systems are in place to take care of the properties. As well as how they communicate with both the property owner and the tenants. The goal of the property management company should be to keep all the properties well-managed.

There is a very large national management company that is planning to expand to the Cleveland area. They are absolutely huge and their ration is 1 personnel for every 200 units. This means property owners do not have an assigned representative. This can make communication hard and the overall management not as positive. However, they may be able to offer a lower cost, which seems good.

Our ratio is 1 manager per 50 units. That doesn’t include me or our support staff that handle a great deal of our services. The managers focus only on the properties they manage. That also does not include our full-service call center.

In addition to having a low ratio, we also have the systems in place to manage properties smoothly.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

When do I get my rent money each month?

We focus on providing property owners with a steady cash flow from their properties.

This is another common question and with good reason. In order to plan accordingly, property owners need to know when they can expect the rent money from their properties. Management companies vary greatly on how they handle payments. Many companies pay at the end of the month because it makes accounting easier and cleaner. By waiting until the end of the month, they can deduct whatever expenses come up and send you the remaining balance.

We, however, understand that doesn’t work out for all property owners. In an effort to serve the needs of our property owners, we pay weekly with direct deposits. Each week any money owned is paid out, which keeps up the cash flow for you because you don’t have to wait weeks to receive your rent payments.

It does take longer if you prefer getting paper checks, and we strongly encourage setting up the direct deposit.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

 

 

What are your Cleveland Ohio property management fees?

We utilize the best available resources to make your properties profitable.

What do you have to pay for and what do you get in return? This is what you need to know when working with a property management company. Because our fees do change from time to time, I’m going to tell you what kinds of fees we charge and what you get for those fees, opposed to giving you actual numbers. You can check out our full list of fees on our Price List

We have a management fee – this is currently a flat rate based on the number of units. However, we are currently considering changing this one. The property management fee covers most everything we do once there is a tenant in the rental unit.

This includes:

  • monthly rent collection
  • fielding tenant calls
  • maintaining a 24-hour call center to handle anything that comes in
  • monthly accounting
  • help with legal questions
  • statement portals for you and the tenants
  • facilitate inspections
  • offer weekly direct deposit
  • customize financial statements
  • our years of experience in the local market and ongoing training to stay current on changes in the industry and how to best serve you.

We do charge the tenant late fees when they do not pay their rent on time and we keep those to compensate for the extra time spent collecting the rent. While you do not pay those, you will see them on your financial reports, so it is important to understand what that is.

We have a lease renewal fee. We go through a process that starts 90 days before the end of the lease to work witht hetentnat to get them to renew their lease for another year. Move outs and vacant units are very costly to the property owner, so it is our goal to keep the tenants as long as possible. We charge a flat rate renewal fee to cover that.

We also have a leasing fee of one month’s rent. This covers the marketing, online ads, videos, images, virtual tours, actual tours, and so on.

We do have other fees that are charged as needed and are outlined on our pricing page.  You can check those out and contact us if you have any questions.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

What needs to be done before leasing my house

We utilize the best available resources to make your properties profitable.

With everything we do there is a process and a checklist. This helps us to get things done quickly and effectively without the worry of forgetting something. This includes a checklist with everything to do before leasing your house.

When a tenant moves out.. the first thing we do is a move out inspection and security deposit accounting. The move out inspection allows us to determine the condition of the property compared to the property’s condition when the tenant moved in. After determining if there is any damage, we prepare the security deposit accounting, which MUST be provided to the tenant within 30 days of them moving out by law.

The next step before leasing making needed repairs. This step is important to us. Some property owners prefer to not make any repairs as a means of saving money and simply charging less rent since the property is not in perfect condition. However, our philosophy is the better condition the property is in, the better quality tenants we attract. Better quality tenants take better care of the property while they live there and there will be less damage. It creates a positive cycle.

Once repairs are made, the property is thoroughly cleaned from top to bottom. We have an amazing cleaning person on staff, who follows a detailed checklist. We’ve received plenty of feedback on how well she does. Making sure the property is thoroughly cleaned has a big impact. People will pass on a property that is dirty. It suggests that it was not well cared for.

We also paint. Any rooms or walls that are marred or too dirty are painted. Touch-ups never work because you can always tell. At the very least, we paint the entire wall. We generally go with neutral colors, but we do experiment with accent walls. Again, the better quality the apartment is, the better quality tenants we attract. We also make sure there are window blinds throughout in a neutral color.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

 

How much do you charge for evictions?

Control eviction costs by preventing them

This is not a bad question to ask, and we get it a lot. Landlords are worried about evictions because they are so costly.

We offer our property owners an all-in-one fee. This covers the three-day notice, court appearances, attorney fees, court costs, and any other related costs. I’m not going to state here what the current fee is because it changes from time to time. Check HERE to see our current all-in-one eviction fee.

We are looking at adding eviction protection insurance as a service to our property owners. For an additional small monthly fee, eviction costs will be covered. If that is something you may be interested in, let us know. We are currently gauging the level of interest there is for that kind of service.

While an eviction is sometimes necessary, it is out ultimate goal to avoid evictions because we understand that evictions and move-outs are costly. We want to save our property owners the expense and frustration of evictions. Please also read What Happens if a Tenant Doesn’t Pay the Rent? to learn more about what we do to avoid costly evictions and move-outs.

Our experienced investment property management team can relieve you of the burden of managing your rental property while saving you some serious money! Call us today at (440) 220-7300 to see how we can help you!

Top ";