Hey, everybody, Alex Smith here from gkhouses, I wanted to do a questions owners asked. Today’s video is about the 5 Questions To Ask Before You Hire A Chattanooga Property Manager before you should get started.
This is not an all-inclusive list, just definitely five questions you wanna ask him. And I may be looking back and forth at some notes here.
Table of Contents
First question, how many rentals do you manage?
So, this is going to give you an idea of their level of experience. It will not, unfortunately, give you an idea of their level of service.
Not all big managers are the best, not all small managers are the best. You know, it’s going to depend from manager to manager.
Question two, how will you determine my rent amount?
So, we’ve got a couple of ways that we do this.
We use a website called RentRange and that’s going to look at some comps within a, you know, a certain radius, comps to your house that you’ll be renting out, you know, bedrooms, bathrooms, square footage.
It’s going to look at what’s on the market, and it’s going to spin out a rental value along with a confidence score, meaning, I guess the simplest way to explain it is, you know, that’s the chance that, you know, it will rent for this.
Sometimes it could rent for more, sometimes it could rent for less.
And then we also look at, you know, what’s currently on the market in Zillow.
We’ll also look at, you know, some comparable houses that we manage currently that are occupied, and we’ll be able to come up with a solid number that way.
Number three, do you conduct a property inspection?
So, while the house is vacant, we’ll walk through the house every three weeks, hopefully, it’s not on the market that long, but you know, that’s what…Yeah, every three weeks is what you’re looking at there.
So, we’ll just make sure everything’s clean and showing well, and good to go, and that sort of thing.
Once the house is occupied, we have a plan that includes quarterly inspections.
Coordinating With The Resident
We’ll set everything up with coordinating with the resident, you’ll receive a report with pictures and everything.
And that’s also…that’s in our Platinum plan, that’s also as a separate add on service if you don’t want all of the included features with the Platinum plan.
Question four, do you offer any guarantees? We do. We actually have four of them
Our first guarantee is our happiness guarantee. You can cancel your agreement at any time, no penalty.
So, you know, we want you to be happy and yeah, we don’t have a cancellation penalty for our agreements.
Question two, we also have a resident guarantee.
So, if the resident doesn’t pay rent for six months or for some reason, they, you know, split town within six months, we’ll release the house for free. So, no leasing fee there.
The question, three…no question three, guarantee three, we also have a maintenance guarantee.
So, we have a one year warranty on, you know, all of our maintenance labor materials.
So, like say if you have a sewer rehab on a house, we have to go out and do a repeat repair, that’s going to be covered at no cost to you.
And that goes the same for, you know, any workwear that the resident submits, things like that.
The last guarantee is our lease guarantee.
So, we’ll rent your house in 21 days or less, and if we don’t you get two months of free management once we do lease it.
That one’s pretty self-explanatory. Going back into the questions now, and this is the last question.
Question five, how does maintenance work and are there any markups?
So, it’s going to be different depending on, you know, what city we’re in. Like here in Chattanooga, I’ve got two full-time maintenance guys.
They’re general handyman sort of maintenance technicians and they can take care of pretty much anything.
Anything that involves like electrical, we can’t do or you know, sewer lines, things like that, we’ll dispatch to a third party vendor.
But my two maintenance guys have been in the industry for a long time, they know what they’re doing, they know their stuff.
Third-Party And The Markup Associated
So, anything we can’t dispatch to my guys, the guys I have here in the office will dispatch to a third party and the markup associated with that is a 10% management markup.
And you’ll get, you know, the invoice that they send us, all that kind of stuff. So, we want to be as transparent as possible.
So, that’s it. If you have any questions, definitely please feel free to reach out to me.
You can call our office 423-648-7368. You can also reach out to us by email 423…that’s phone number. You can reach out to us by email, [email protected].
Again, my name is Alex, and if you need anything, please let me know. I’d love to help, thanks.
Spencer is the VP of Marketing at Evernest. He wakes up with Google and Facebook on his mind. Having bought and sold over 150 homes in Birmingham, Spencer gets a kick out of helping new and seasoned investors navigate the mistakes he made as an investor. Spencer is also passionate about his love for Michael Jordan and does his best to explain to the Millennials (who never saw him play live) how much better he was than LeBron. He loves to hang out with his wife, kids, and the world’s best black lab, Jett.
Ready to speak with our sales team?
Start the conversation!