What Should You Expect From a Professional Long-Term Residential Property Management Company
When it comes to renting your property, it's best to have an experienced property manager partner to assist in every aspect from tenant screening to maintenance to accounting services.
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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