The Importance of a Long-Term Property Manager

Reliable and professional long-term rental property management is an important aspect of owning and maintaining rental properties. It is of utmost importance that your property is well-maintained, income and occupancy are maximized, that your tenants are well screened, and that landlord / tenant rules and regulations are strictly adhered to. A professional property management company will take care of all aspects of managing your rental property, from finding and screening tenants to handling maintenance and repairs, to paying bills and taxes and coordinating repairs and maintenance.

 

Long-term rental property managers are responsible for managing rental properties on behalf of their clients - the property owners. Here are some of the specific tasks that long-term rental property managers typically perform:

  1. Finding tenants: Property managers advertise the property, screen potential tenants, and conduct background checks to ensure that tenants are financially responsible and have an acceptable rental history.
  2. Lease agreements: Property managers prepare lease agreements that outline the terms of the rental, such as rent amount, security deposit, rental duration, and other relevant terms.
  3. Rent collection: Property managers collect rent from tenants and ensure that it is paid on time. 
  4. Property maintenance: Property managers ensure that the rental property is well-maintained and in good condition. They may coordinate repairs and maintenance with vendors, contractors, or the property owner.
  5. Tenant relations: Property managers are responsible for addressing tenant concerns and maintaining positive working relationships with tenants. Property managers are also responsible for adhering to specific rules and regulations including fair housing laws and the Landlord / tenant code.
  6. Financial reporting and owner payments : Property managers must keep accurate financial records, including income, expenses, and profits. They also provide financial reports to the property owner. Property managers are responsible for timely payments of rental amounts received minus property expenses on an agreed upon method and time-frame.


Overall, long-term rental property managers are tasked with ensuring that rental properties are well-maintained, rented out to trustworthy tenants, and generate passive income for the property owner. They play a critical role in managing the day-to-day operations of rental properties, so property owners can focus on other priorities.

 

The Coldwell Banker Property Management difference

At Coldwell Banker Property Management, we understand the importance of providing top-notch property management services to our clients. Our team of experienced, licensed professionals is dedicated to ensuring that your rental property is well-maintained and follows all applicable fair housing laws and the landlord tenant code.


Coldwell Banker offers full-service property management including tenant screening, rent collection and owner ACH rental income payments, owner and tenant online portal access via our state of the art software platform, maintenance and repairs, bill and tax payment services, caretaking services and lease enforcement. We also provide regular and on demand owner reports and updates to keep our clients informed about the status of their investment.


What makes Coldwell Banker Property Management stand out from the competition?

Coldwell Banker is a well-established and reputable brand with over 110 years of experience in the real estate industry. This longevity has allowed us to develop a strong network of resources and expertise that we can leverage to benefit our clients.


We have a team of experienced and knowledgeable property managers who are dedicated to providing top-notch service to our clients. Our property managers undergo regular training to stay up-to-date with the latest industry trends and best practices, ensuring that they are equipped to handle any property management challenge that comes their way.


We know the local market and our team of full time, dedicated, licensed property management experts have a sole focus, which is property management. Our Property Management agents do not take part in Real Estate sales as many of our competitior agents do. This means that the only focus is on their Property Management portfolio and how to maximize returns for their owners.   We hire only the very best Realtors and property management specialists – all of whom are members of NARPM and abide by their strict code of ethics.

 

We offer a wide range of property management services that are customizable to suit the needs of each individual client. Our services include tenant screening, rent collection, maintenance and repairs, lease enforcement, and more. We can also provide marketing and advertising services to help attract high-quality tenants to your property.


Finally, we pride ourselves on our commitment to transparency and communication with our clients. We provide regular reports and updates to keep you informed about the status of your property and are always available to answer any questions or concerns you may have.

Overall, choosing Coldwell Banker Property Management means choosing a trusted and experienced partner who will work tirelessly to ensure the success of your rental property.

 

With Coldwell Banker Property Management, you can rest assured that your rental property is in good hands. Contact us today to learn more about our services and how we can help you manage your rental property more efficiently.

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Long-Term Property Standards for Hawaii Rentals

20 Jun, 2023
A checklist to prepare your home for the Hawaii rental market.

Guidelines for Managing Your Rental Property

27 Aug, 2021
A long-term rental property can be a very lucrative investment. It’s a good way to make passive income but being a landlord can sometimes seem like a full-time job. There are several factors to consider at all times to ensure you have your tenants’ best interests at heart. Responsibilities such as maintenance and repairs can be costly, so you also need to maximize return on investment and keep an eye on your finances. For this reason, many landlords work with local property management companies in Kona, Waikoloa, Waimea and Honokaa who provide assistance in a number of areas. If you’re managing your own rental property, here are a few quick tips. Understand Local Laws It’s essential to have a good understanding of Hawaii state laws to ensure you are protected at all times. Each state has different property laws. These may, therefore, vary relating to rental agreements, property maintenance, land ownership, building regulations, and so on. It’s a good idea to get clued up on these laws before embarking on a new business venture. Monitor Your Finances If you’re renting a property, there will be plenty of expenses that will need to be balanced against your rent profits. It’s important to learn how to effectively manage your cash flow for this reason. You could consider hiring an accountant to help you monitor your finances. If you decide to DIY your own finances, you need to make a realistic budget and stick to it. It’s advisable to create a specific account for emergency funds to spend on the property. Prepare for Re-leasing in Advance Often turnover is not as quick as you might hope so it’s a good idea to prepare for the end-of-lease and re-leasing in advance. This will ensure a more constant cash flow coming in from your rental property. If your tenants’ contract is ending, start the re-leasing well in advance to give yourself time to find someone else. You should also be prepared to evict tenants. In the case that you encounter problems with your tenants, you need an eviction plan in place in accordance with the local legislation and your insurance policy. Remember you must reside on the Big Island of Hawaii to manage your own property. You may use an on-island associate to manage on your behalf, but our best advice is to hire a professional rental company familiar with the island, local laws and codes. As you can see, managing a rental property is not without its challenges. This is why many landlords outsource these services to professional residential property management companies. You can rest assured your property will be in the hands of the experts.

What Should You Expect From a Professional Long-Term Residential Property Management Company

27 Aug, 2021
Residential property management is a job requiring a unique set of skills. Here on the Big Island and Maui, finding a long-term management company with experts who know the real estate market, the local area and are skilled at working with tenants, is imperative. Below are some things you should expect/receive from your property management company. Clear and open communication with you the owner, and with tenants. Experience and knowledge of single-family homes or condos in the area where your property is located. Your rental manager should be able to provide you with rental comps and share information about the location. Successful rental management companies are members in NARPM (National Association of Residential Property Managers). This national association provides its member with education opportunities from Industry experts, current laws and standard practices. Expert long-term rental market assessment. Advertising and marketing for the best exposure and quickest re-rental. Advertise rentals on multiple websites. Rigorous pre-qualifying tenant selection including Credit & criminal screening, prior landlord references, income and employment verification. Rule enforcement Lease enforcements Regular and routine property inspections. Association interfacing Access to the best possible vendors, contractors and maintenance companies to coordinate repairs 24-hour emergency service Experienced accountants Aggressive rent collection via online portals for on-time receipt of rental income. Keeping operating costs under control. Computerized billing and accounting ACH Deposits of net proceeds Bill payment services Monthly financial statements
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