Spend Less Time While Lowering Your Risk
It seems impossible to pay a property manager AND expect a better return on your rental property investment, right? On the contrary, hiring the right property management firm can actually put more money in your pocket than if you did the work yourself, not to mention saving you the time of doing it yourself.
COST EFFECTIVE MAINTENANCE
Ben Franklin is credited with saying, “In this world nothing can be said to be certain, except death and taxes”…and maintenance. Real Property Real Estate increases your bottom line by taking care of maintenance in a timely, cost effective manner. Many self managers struggle to do the maintenance on their own, though many try. Often, they have good intentions, but the fact is a tenant can go for days and sometimes weeks with a broken refrigerator, no hot water, or no way to cook their food. In cases like this, the tenant will look for the first opportunity to move, creating vacancy cost, turn over cost, and leasing costs. While it doesn’t feel good to the property owner at the time, timely maintenance is key to tenant satisfaction. Low tenant satisfaction can have a strong negative impact on your return on investment. As a national company with strong buying power, we pay less for materials and services than a self manager pays. Hiring Real Property Management pays for itself.
PLACING QUALITY TENANTS
Most self managers only have to place a couple tenants per year–maybe even less. Therefore, self managers often do not have the access or don’t know where to find credit reports, criminal records, sex offender data and the like. If they are able to find the data, self managers may not know what to do with it. How bad is bad credit? Should they accept someone with a bankruptcy, drug charge, or a felony? How much money should the tenant make in relation to the rent? Because Real Property Management places 1000′s of qualified tenants a year, and declines many more, we know from experience and best practice who makes the best tenants. Who is the most likely to pay rent, and who will take the best care of the property. Think of it is way…if a self manager misses one rent payment, they could have hired Real Property Real Estate for a year. If a self manager places a poor tenant, the damages could easily pay to hire Real Property Real Estate for several years.
FASTER COLLECTIONS AND EVICTIONS
Even though we find the best tenants, they can still lose their job, get a divorce, or get in an accident. These are difficult situations, but allowing the tenant to remain without paying rent is not the solution. The sooner we can help the tenants connect with community aid and find other accommodations that they can afford, the sooner we can find a new tenant who is again qualified to rent the property. Timing is critical in rentals. We have a streamlined process that makes sure all laws and codes are followed to avoid any legal pitfalls. Let’s face it. Evictions and collections do happen. A poorly handled eviction can cost you years of profitability. Real Property Real Estate brings an incredible amount of value to the table with almost 30 years of experience currently managing over 5 billion dollars in real estate assets.
For each day a property is vacant, it’s money out of your pocket. We spend thousands of dollars every month advertising vacancies to get them filled—faster. Placing the wrong tenant in your rental home can also cost you– on average, 4 to 6 times the monthly rent rate. We screen tenants thoroughly to make every effort to find reliable tenants who will pay rent on time and treat your home like it was their own. Smarter tenant placement is a result of our rigorous background screening process, including credit, employment, rental history, and criminal checks, using a systematic business approach.
When collections and evictions are necessary, a streamlined, automated system ensures that the process is completed as quickly as possible, while ensuring all laws and codes are followed and no step is missed.
Property management is our full-time focus. We have a vast network to connect prospective tenants with the right property. In addition, our advertising campaigns reach tenants all over the country and even the world. Time is money in rentals. Because of our ability to find and place qualified tenants quicker than most people who self-manage, we can increase your bottom line.
There are no guarantees in rental property management–until now. We are so confident in our ability to put more money in your pocket, we will put our money where our mouth is. For example, if we don’t place a qualified tenant in 29 days, you don’t pay*, if a tenant walks away from the lease in the first six months, we will find you a new tenant free of charge*, and if we have to do an eviction, we pay for the legal fees*. If you never have to use these guarantees you make money because bad things didn’t happen to your property. If bad things do happen and you have to use them, you still make money. That is a win-win. If you are interested in learning more about how to maximize your rental property’s return on investment, please give RPRE a call today.