PROPERTY MANAGEMENT BLOG

BENEFITS OF USING A PROPERTY MANAGEMENT COMPANY

What are the Benefits of Using a Property Management Company?

Problem tenants? Damage to your home? If you have ever managed your own property, you have most likely encountered these scenarios and seen the more challenging side of owning a rental home and managing tenants. After using M&D, we hear from clients over and over that they would never manage their own property again!

Do You Have Problem Tenants

1) Setting the right price. 

We perfect this with thorough market studies and a deep understanding of the rental market and areas where we operate. We know how to achieve the right balance between maximizing your monthly income and also ensuring a low vacancy rate. Typically, rental prices are set between .08 and 1.1% of the properties values. This leaves a range where we can help you determine the higher or lower end, based on recent updates to your property, location, demand and other factors!

2) Screening applicants. 

The most important aspect of renting your home is making sure you have quality tenants in place.  It protects the home and helps to ensure timely payment and minimal tenant issues.  Management companies have the ability to run credit checks, criminal checks, eviction searches and are experienced in screening employment and rental history.  A management company will be able to use their past experience and tools to screen much deeper than an individual home owner is able to.

3) Collecting & Depositing Monthly Rents. 

Sometimes getting payments can be awkward and difficult. We do this for you, in addition to quality screening. If you have only a few properties, we understand how important cash flow is and getting the rents in on time. Having a neutral third party to be the “bad guy” and to enforce the lease keeps emotions and that awkwardness out of the relationship. We can help with this!

4) Marketing & Advertising. 

We know where and how to market your property to get you top exposure. A good Property Management company will lease your property twice as fast as the next company, and this is what we do at M&D Real Estate. We use professional photography and video to present your property in the best light. We go through hundreds of channels to ensure your property is in front of quality renters at the right time and place.

5) Finding & Managing Tenants. 

We take care of all the details, including running background checks, interviews and screenings, then lease agreements. We will handle (24/7) all maintenance requests, both routine and emergency! We have quality vendors and will discuss with you ahead of time which repairs need approvals and which M&D is authorized to handle. We also handle all situations where any conflict resolution is required.

6) Vendor Relationships. 

One key component is our vendor relationships, which are strong and ensure great pricing and quality work on your property – also, quick turnaround and timely repairs.

7) Compliance & Regulations. 

We understand local, state and national laws and regulations. We are knowledgeable on tenant rights and fair housing regulations. Did you know tenant’s deposits cannot be held in a normal bank account? We ensure your property and tenants are taken care of, and that you stay in compliance with all legal restrictions and responsibilities.

8) Maximize your profitability & time. 

Many owners have other full-time jobs, or are looking to continue investing and growing their own portfolio. By allowing a Property Management company to help, you are freed up to work on your own deals and collect rents without having to spend the enormous amount of time often required when renting out a property. 

Many people think Property Management services are more costly than they actually are! We hope to dispel that notion.

M&D Property Management charges 7% percent of the monthly rent. When you factor in making sure your home is renting at the correct rate, reducing damage to the home, on time payment and our negotiated vendor rates, management is well worthwhile both financially and in time-savings!

 

The money you stand to make and save from letting M&D assist you with setting the right price for your rental(s), in addition to quick leasing, quality tenants and high quality maintenance vendors that charge great prices, really ensures at the end of the day, you come out on the winning side.