Real Property Management Cost
Must have the absolute lowest rates; management fee structure must be simply put, untouchable.Charge a leasing commission equal to 84% of the first month's rent for an annual lease (7% of the gross lease). Almost every other company charges the entire first month! Additionally, management fees are only 10%.
Repair Costs
Should need repairs that vendor relationships typically provide the owners with a 20% - 25% repair cost savings. The property management must able to achieve these discounts due to the volume business they do with their vendors.
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
Thursday, June 18, 2009
Wednesday, June 17, 2009
Ideal Highly Qualified Property Management Team
Here are some Minimum Criterion:
Furthermore, must be members of the Association of Residential Property Managers and the local area board of Realtors
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
- Possess a minimum of a Bachelor's Degree in business administration with a GPA of 3.0 or higher
- Successfully perform a minimum of two years of post graduate property management experience with distinction
- Successfully complete a 63 hour pre licensing course which covers topics approved by the State Real Estate Commission
- Pass the State Real Estate Licensing Examination
- Commitment to 7 day per week 8 -8 work week
Furthermore, must be members of the Association of Residential Property Managers and the local area board of Realtors
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
Tuesday, June 16, 2009
The Ideal Property Inspection
Property management should inspect the home before the tenant takes occupancy, when they vacate, and must have a handyman perform inspections quarterly. A copy of the inspection report must be e-mailed to both customer and your manager .The handyman should not only checks the unit for damage, he or she also changes the air filter and puts an Algaecide tablet in the air conditioner drain pan
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
Monday, June 15, 2009
Caution on Naples Property Management that has this following Crrterion
Signing a binding long-term contract
Companies that do leasing only
Companies that only advertise on their website and the MLS
Management companies whose managers only work from 9-5
"Hidden fees", many companies do not openly advertise many hidden costs
Agents who do not do enough tenant screening
Companies with managers who manage too many properties
Companies who don't disclose exactly how they will market your property
Companies who use stock, out-dated leases
Companies who won't let you see their lease agreements or rental applications
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
Companies that do leasing only
Companies that only advertise on their website and the MLS
Management companies whose managers only work from 9-5
"Hidden fees", many companies do not openly advertise many hidden costs
Agents who do not do enough tenant screening
Companies with managers who manage too many properties
Companies who don't disclose exactly how they will market your property
Companies who use stock, out-dated leases
Companies who won't let you see their lease agreements or rental applications
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
Managing your Tenant and Renewals
Although we recommend professional property management to nearly all owners some owners simply like to manage their homes themselves. Many owners are not as experienced with dealing with tenants. Miscalculation in this important area of management could cost an owner thousands in profits. Some common errors are befriending a tenant, approving unnecessary repair expenses, and giving too much of a concession to a good tenant.
Many owners become friends with their tenants over time. This is simply put - a bad decision. As the President of Synergy Real Estate, I prohibit my managers not to befriend tenants. In fact, I do not even want the tenants to like us. I do however want to treat them fairly and gain their respect. This important boundary implores the tenant to more closely performing as required in the lease. Many befriended tenants pay late more frequently, do not provide the appropriate notice, and expect you to take requests at all hours.
Proper tenant management also requires a firm hand in dealing with unnecessary repairs. Many tenants in the first month test the water with a barrage of unnecessary repairs. They are essentially seeing what you will approve and won’t. This is the point at which it is vital to remain vigilant but fair. It is a necessary repair to fix a broken sink. However, to shampoo the carpets after a tenant moved in because they were not clean enough is not. Also, you should always require that a tenant submit a repair request in writing. And most important - set boundaries and be firm.
Should you give a good tenant a discount in rent? The only time I would consider this is if I legitimately believed we would have to evict or lose a good paying tenant. This would also be contingent upon market rental rates when compared to the prevailing rate. At the end of the day, your goal is to maximize net income. You should not be concerned with being nice. You can donate money to charity any time you like. But a properly managed property should be run like a business. Would a grocer remain in business if they gave 30% off to each customer with a sob story? Be prudent and always make the decision that maximizes profit while maintaining your asset.
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
Many owners become friends with their tenants over time. This is simply put - a bad decision. As the President of Synergy Real Estate, I prohibit my managers not to befriend tenants. In fact, I do not even want the tenants to like us. I do however want to treat them fairly and gain their respect. This important boundary implores the tenant to more closely performing as required in the lease. Many befriended tenants pay late more frequently, do not provide the appropriate notice, and expect you to take requests at all hours.
Proper tenant management also requires a firm hand in dealing with unnecessary repairs. Many tenants in the first month test the water with a barrage of unnecessary repairs. They are essentially seeing what you will approve and won’t. This is the point at which it is vital to remain vigilant but fair. It is a necessary repair to fix a broken sink. However, to shampoo the carpets after a tenant moved in because they were not clean enough is not. Also, you should always require that a tenant submit a repair request in writing. And most important - set boundaries and be firm.
Should you give a good tenant a discount in rent? The only time I would consider this is if I legitimately believed we would have to evict or lose a good paying tenant. This would also be contingent upon market rental rates when compared to the prevailing rate. At the end of the day, your goal is to maximize net income. You should not be concerned with being nice. You can donate money to charity any time you like. But a properly managed property should be run like a business. Would a grocer remain in business if they gave 30% off to each customer with a sob story? Be prudent and always make the decision that maximizes profit while maintaining your asset.
For Free Consultancy about Hiring Naples Rental Management pls visit this link
http://www.naplespropertymanagement.net/owners.html
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