We all know that investing in rental real estate is one the best things you can do for your portfolio. But, as you may have already experienced, it is a large time commitment and requires a lot of knowledge and effort. Whether you are thinking about becoming a landlord for the first time, or the eighty-first time, there are serious benefits to hiring a property management company instead of trying to do it yourself. Having professional management literally pays for itself – especially when you consider what your time is worth.
5 Important Questions to Ask Yourself
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- Do I have time to aggressively market my property during vacancies?
- Do I know how to find quality tenants and do background checks?
- Can I determine (and get) the maximum market rent?
- Do I have time and energy to be on-call 24/7, collect rent, do walk-throughs, bookkeeping, etc.?
- What if I need to evict someone? Can I commit to being on top of all the laws?
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What Does a Property Management Company Do?
Simply put, property management companies free up your time and energy, by acting as the middleman between you and your tenants, and handling the day-to-day tasks of managing a rental property. Property management companies vary in the types of services they offer, so make sure you know what to look for when you’re hiring someone. Below is an abbreviated list of the services TMG Property Management Services NW provides. We’re proud to offer services that set us apart from other companies. As you read through the list, think about what it would take for you to do these things for yourself.
Filling Vacancies
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- Relocation Department. We have a team dedicated exclusively to matching tenants with properties.
- Tenant Screening. We check references, credit history, rental history, and criminal history. Read our Rental Criteria.
- Pet Screening. In order to protect your property, our pet policy requires tenants to submit a photo of their pet, pay extra fees and pet rent, and it restricts the number and breed of pets. Read our Pet Policy.
- Marketing. We take photos and videos, list your property on our website and all the popular rental sites, and place “For Rent” signs on your property.
- Showings. We offer self-showing technology with Rently, or a physical key check-out system.
- Lease Renewals. When it’s time to renew, your property manager reviews market rent, and how the tenant has taken care of the property.
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Our Team
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- Tenant Communication. We handle ALL questions and issues that come up.
- Owner Communication. We strive to do our best to keep you up to date on everything, and we answer calls and emails within one business day.
- Experienced Team with Extensive, Ongoing Training. Our property managers are the best in the business!
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Finances
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- In-House Accounting Team. Our experienced team handles all financial transactions, including rent collection, deposit management, etc.
- Owner and Tenant Portals. Tenants can pay rent, request maintenance, view documents. Owners can make contributions, download financials, and more.
- Tax Time is Easier. We provide you with a 1099, and financials, breaking down income and expenses.
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Maintenance and Repair
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- Routine Maintenance & Repairs. TMG Maintenance Services NW is our in-house maintenance team. They process maintenance requests and coordinate the work with the tenant.
- 24/7 Emergency Repairs. Tenants simply call a toll-free number.
- Turnovers. We get your property ready to rent quickly.
- Annual Surveys. We check for problems and make recommendations for improvements.
- Capital Improvement Projects. We identify and coordinate any projects that may come up.
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Legal Issues
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- Issue Notices. Late rent, property entry, issues that need to be corrected, etc.
- Evictions. Coordinate evictions with our legal team.
- Landlord/Tenant Laws. We stay up to date with the ever-changing laws.
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What is the Going Rate for Property Management?
Again, how much is your time worth? You will likely be money-ahead by hiring someone to manage your property, freeing up your time and energy to make money doing what you do best.
There are several factors that determine the cost of management. It’s based on your need, number of units, etc. But we guarantee that our rates are highly competitive, and by answering a few questions, we can give you a no-obligation quote over the phone. Our New Business Team is ready to answer all your questions and provide you with a Free Rental Analysis. Give us a call today and see how we can save you time, money, and stress.
