The Ultimate Property Management Company

[RodBellamy]

I am starting this list to determine what the top requirements from a property management company might be...I am on my third manager and would like to know what other investors would like to see in a management company...these are in no particular order...


1. a guaranteed 24 hour response time to any question I might have regarding my properties

2. an automatic email with a list of all the links to all the advertising pertaining to any vacancy I may have

3. a copy of each lease with contact numbers of tenants for any property they manage for me

4. an emailed quarterly inspection report with supporting digital photographs of any issues

5. a weekly report detailing any showings and inquiries I may have on a vacant property

6. a full time maintenance staff that can promptly respond to any repairs that my properties may require

8. a programme for lawn care

7. a web based accounting system that allows me to check in real time all my statements/ outstanding balances, payment status of rents, and repairs outstanding

8. a welcome basket for each new tenant that moves in

9. a completed questionnaire by each tenant who give notice to move which supplies the tenants likes and dislikes about the property and location

 

[RodBellamy]

10 Automatic notification by email when a tenant give notice to move and the move out date

 

[Margot Watson]

QUOTE (RodBellamy @ Aug 15 2008, 09:59 PM) 10 Automatic notification by email when a tenant give notice to move and the move out date
I agree with all the things you have listed and.....

I would also like to see:

- No `Rent-up` fees! Or if that is not possible at least LOW rent-up fees.
- A large `For Rent` + phone number sign put in the window as soon as notice is given by the tenant leaving.
- Virtual tour put on the Property Manager`s website in a timely manner.
- Rent Income deposited in MY bank account by the 10th of the month.

These are not impossible - I have property management in BC that charges 8% of the rent, no rent-up fees and the rent money is always in my account by the 10th of the month!!

 

[DonCampbell]

PLUS:

1. A company that underpromises and over-delivers.

2. A company that is not afraid to discuss potential problems (Rather than ignore them)

3. They should have a FULL TIME rental marketing person on staff, because without this... all the other work becomes unrequired!

4. A company that DOES get quotes on renos (even simply painting of a suite) rather than just call "Their Guy!" One simple call for painting saved us $500 on painting a suite vs "Their Guy"

5. Offers a couple of levels of service: 1. Full Management Service or 2. Rent-up service when I only need them to show the suite, do the background check and collect the post dated cheques.

I`m sure there`s more......

 

[housingrental]

Are you willing to possibly pay double the market price for getting the job done right though? There lots of pm companies that price work at a fraction of what it costs to do a thorough job. And of course for that price they don`t do to the quality they`d do if they owned the property. I`ve found very few landlords are willing to pay more and often choose the low quote.