9 Property management questions to ask before you lease your rental home

 

For more information contact Britt Kidd  805-379-0544 Call Now

  britt@secureonerent.com


1) What Professional memberships/licenses are maintained by the manager?
  Secure One Company 2 Company 3
a) National Association of Residential Property Managers? yes    
b) MPM (Master Property Manager: Top 1% of the industry.)  Is an MPM broker on staff to help guide your success? yes    
c) Realtor? yes    
d) Apartment Assoc. member (local current landlord tenant information)? yes    
e) Better Business Bureau top ranking? click BBB icon on bottom of page. yes    
2) Is there Bonding and Liability insurance?
  yes    
a) Are all trust funds managed for others held properly? yes    
b) Is the company a corporation? yes    
3) Has there been a successful audit by Fair Housing?
  yes    
4)* What Guarantee will you receive?
a) Cover vacancy costs when property is vacant? yes    
b) Cover costs of tenant damage? yes    
c) Pay you rent in the event the tenant refuses to pay? yes    
d) Cover costs of an eviction or bankruptcy attorney and filing fees when required? yes    
e) Pay you on time even if the rent check bounced or is late? yes    
 f) Overhead fee charged for regular maintenance coordination? no    
g) Rent up fees charged at vacancy to procure a new tenant? no    
h) Fee to renew tenant's lease? no    
l) Will cover portion of interior paint costs? yes    
J) Will shield you from loss of uncollected small claims judgments over security deposits? yes    
*These features apply to the Secure One guarantee plans only.
5) Other Benefits?
a) On call for maintenance? yes    
b) Monthly computerized Rental Statement available on line? yes    
c)** Payments of mortgage, homeowners fees, taxes, insurance? (Secure One Properties Plan C only) yes    
d) Payment of pool, gardener, etc.? yes    
e) Extensive credit check system and investigation of the tenant? yes    
f) Conditions of premises report before and after tenancy? yes    
g) Regular surveys (interior and exterior?) yes    
**In the Secure One guarantee plans a rent check is sent to the owner or an owner's designated bank account.
6) What about management pricing?
Is the price for the management service realistic and fair? Your home is a valuable asset. Seemingly low-priced services can often lead to poor results. Sometimes managers will do these services for less compensation in the hope of getting a sales listing soon. Does the manager have an incentive to be mindful of your rental home? What will the manager lose if the tenant doesn't perform? You need someone motivated if a problem does occur at the house.
7) What business is the manager really in?
What portion of their business is devoted to rental homes or townhomes? Is their primary interest selling properties, or managing apartments or homeowner associations? In many situations, the management of rental houses is one of the least important activities to the management company. Secure One's primary business is the management of homes and townhomes.
8) What about other owner's losses?
How many of the managers customers have lost money on eviction or damage or late payment? This can be a tough business and often the figure is large. This tends to be an embarrassing question if properly answered. If a manager has little to lose, carelessness can quite easily develop. Under the Secure One guarantee plans, no owner has lost money on eviction, damage or late payment or attorney fees and court costs since 1986. Secure One absorbed the losses.
9) How do you choose the right rental price?

Pricing your home correctly is very important. You don't want to give away profit or overprice the home so that it sits vacant for a long time. Secure One will work with you to get the best rental price. We will start a little higher than that price if requested. Overpricing of property by agents is unfortunately sometimes done in order to get a listing. This initially will make an owner happy because it is what they want to hear. This often leads to the unhappiness of a long vacancy or many applications by uncreditworthy prospective tenants. This will not give the owner the best return of their rental income.

 

Bureau of Real Estate License #  01222009
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