Why you should have a Property Manager
- By Clay Nieman
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- 21 Jan, 2019
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Rental Properties can be a great way to generate extra, passive income for busy professionals.
We already manage our own properties and have development systems and processes to maximize efficiency. But why use someone else for something you can do yourself.
The whole purpose of owning rental property is to generate income. When a tenant moves out you have to turn the property and get it ready for the next tenant to move in. This period, know as the turn, takes time. The longer it takes the less money you’re making.
Consider this example: Your property rents at $900 a month, that equates to $30 a day. For every day the rental is not ready it costs $30. You know you will need to clean, typically paint and some minor touch up type of repairs are common. When you’re already working a job often these rental projects get put on the back burner and tie up your evenings and weekends, when you can get to them. Takes you 3 weeks to get it all done or longer, just because of the other “stuff” in your busy life. Say this work costs $500 and is done in a week, that makes your rental ready 14 days earlier and equates to breaking even on the repair and you didn’t have to take away from the evenings and weekends to do it yourself.
In the next blog post I’ll share other features our program and system can offer.
The whole purpose of owning rental property is to generate income. When a tenant moves out you have to turn the property and get it ready for the next tenant to move in. This period, know as the turn, takes time. The longer it takes the less money you’re making.
Consider this example: Your property rents at $900 a month, that equates to $30 a day. For every day the rental is not ready it costs $30. You know you will need to clean, typically paint and some minor touch up type of repairs are common. When you’re already working a job often these rental projects get put on the back burner and tie up your evenings and weekends, when you can get to them. Takes you 3 weeks to get it all done or longer, just because of the other “stuff” in your busy life. Say this work costs $500 and is done in a week, that makes your rental ready 14 days earlier and equates to breaking even on the repair and you didn’t have to take away from the evenings and weekends to do it yourself.
In the next blog post I’ll share other features our program and system can offer.
Rented Days - it’s all about having a tenant paying in the property. In the previous post we discussed “the Turn”and why that’s so important. How we can do that is listed below. We provide 3 benefits for you communication
(the way you want it), saving
you money through smart processing of leasing and repairs, making
you more money through leasing for the appropriate amount quicker.
1. Communication the way you want it.
Owner’s Portal and App - Yep there’s an app for that.
Monthly reports and payments to owners
Automated emails for charges, payments, work orders anything you want to know about your property.
Full ledger accounting allows for transparent,accruate book keeping
2. Saving you money through management
Work Order System allows the owner, tenant and management to all input, view and note work orders. Automated emails will alert each party on any changes.
Quick turns on properties get you back into rented days, minimizing days off market.
Full ledger accounting allows you to turn over the financials to the accountant at the end of the year for filing.
We file 1099’s for you.
Proven systems for collecting rent, posting notices, evictions when necessary, limiting risk.
Tax Strategies to limit exposure.
Debt collection initiatives and partnerships.
3. Making you more money through efficient management.
Tenants pay the way they want, ACH, credit, debit cards. All to get your money quicker.
Proven strategies for maximizing revenue.
Maximize rental rates
1. Communication the way you want it.
Owner’s Portal and App - Yep there’s an app for that.
Monthly reports and payments to owners
Automated emails for charges, payments, work orders anything you want to know about your property.
Full ledger accounting allows for transparent,accruate book keeping
2. Saving you money through management
Work Order System allows the owner, tenant and management to all input, view and note work orders. Automated emails will alert each party on any changes.
Quick turns on properties get you back into rented days, minimizing days off market.
Full ledger accounting allows you to turn over the financials to the accountant at the end of the year for filing.
We file 1099’s for you.
Proven systems for collecting rent, posting notices, evictions when necessary, limiting risk.
Tax Strategies to limit exposure.
Debt collection initiatives and partnerships.
3. Making you more money through efficient management.
Tenants pay the way they want, ACH, credit, debit cards. All to get your money quicker.
Proven strategies for maximizing revenue.
Maximize rental rates
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