Residential Property Manager
A Residential Property Manager can be the perfect compliment to your investment property. So often, the investment you make in property ownership for income purposes can seem to cost far more than initially expected when you’re faced with the daily maintenance of the property and tenant interaction. Hiring a residential property manager will relieve you of many of these responsibilities.
A property manager who is reputable and reliable, like the owners of Real Property Management (RPM) franchises, will be responsible for all aspects of property management beginning with advertising the property when vacant and following through with eviction when necessary. In the middle of the process are several steps that RPM takes that will give you, the property owner, peace of mind that your investment will give you ROI quickly and consistently.
As part of the application process, after advertising and finding a prospective tenant, the RPM residential property manager performs rigorous credit, income and criminal screenings in accordance with local regulations to ensure prospective tenants will be able to pay rent on time and will be responsible with and take care of your property.
Real Property Management property managers perform routine property inspections once the property is rented. This ensures that proper maintenance of the property is being performed and allows for timely repair of any matters that need to be addressed. The residential property manager is on call 24/7 for emergencies, but if the matter is not an emergency, sometimes the tenant will not notice or will not notify the manager of an issue. This regular inspection will prevent those issues from getting out-of-hand.
Real Property Management has an in-house staff of maintenance professionals for handling regular matters that call for immediate addressing. When issues arise that need professional attention, the residential property manager coordinates with the contractor, one of a list of preferred vendors that provide reliable, quality work, to perform the maintenance or repair in a timely manner. This coordination of staff saves you time and money by making sure the tenant’s needs are met as well.
One of the duties of a residential property manager is to collect rent and to make certain expenditures that don’t require advance notice of the owner. These purchases would be pre-approved, likely on a maximum dollar amount basis for emergency needs or minor repairs and maintenance. As the property owner, however, you will want an account of your investment’s return. Real Property Management uses a web-based property management system that allows you to have online access to view your financial statements that show both the rent income and disbursements that have been made.
Unfortunately, there are times when tenants must be evicted for lack of payment, and the RPM property manager is equipped and prepared to handle this unpleasant task as well in accordance will local regulations. Hiring a residential property manager at Real Property Management can provide you confidence and peace of mind that your investment in property was a wise one.
