So the short answer is we deal with the day-to-day management of your house.
Now, this can be especially convenient if you’ve got a, you know, full-time day job, you know, that’s maybe it’s intense on hours or that sort of thing.
You may not necessarily want to deal with the tenants and deal with the day-to-day operations of managing the house and maybe you just want to focus on finding your next house to add to your portfolio which sometimes can be a full-time job depending on how many you’re looking for and that kind of thing.
So I’m just going to run through a quick list of why management might make sense or shed some light on what a property manager even does.
Along with marketing the house, we’ll set rent rates, you know, do all that research for you.
We’ll check on the house every couple weeks just to make sure everything is operating as it should.
You know, if you’ve ever marketed a vacant house before, you can get a lot of prospects that reach out and you don’t ever hear back from them or they turn out to be not so great of prospects.
So we’ll handle all that for you. So sometimes that can take a lot of time.
We’ll also vet tenants, meaning we’ll screen them just to make sure that, you know, whoever you’re putting in your house is likely to pay on time every month for however long they’re in the house. We’ve got a pretty robust screening process.
A lot of times if you’ve done this before like, if a tenant sees an individual homeowner listing a house for rent, sometimes that’s a better opportunity for a tenant because most of the time individual homeowners don’t have as robust of a screening system as say a management company would.
You Know, We’ll Get People In And Out, Get Feedback From Them.
If they’re interested in the house, we’ll send them an application, start the screening process, all that good stuff. And then once the house is occupied, we’ll deal with the tenants.
So if you’ve ever had a needy tenant before, you know how much of a time drain that can be, especially if you got a day job or if you’re full-time looking for houses to add to your portfolio.
What’s entailed with dealing with the tenant sometimes is maintenance, late payments, you know, just answering general questions, all that kind of stuff.
If you’re an out-of-state investor, you know, your property manager should have a pretty decent staple of vendors that can do any and all work needed.
So, you know, you don’t have to worry about finding those people yourself.
Your property manager should have all those ready to go for whatever you need or for whatever the tenant needs. We’ve also got…a property manager should also have, you know, income reporting for your taxes.
They should be sending you 1099s and then any reports you need to send to your accountant for cash flow, all that good stuff.
We’ll send tax documents to you either electronically or through the mail, all that kind of thing. Hopefully, you don’t have to deal…
We don’t personally don’t have to deal with a lot of evictions.
You know, we’re confident in our screening criteria so evictions don’t happen very often, but unfortunately, they do happen sometimes. So we’ll handle all that
You know, your property manager should handle communication with the attorney and get that squared away so you don’t have to deal with that because that can be a big-time drain if you’ve ever been in that situation as well.
Your property manager should also be keeping up with the changing laws and regulations that landscape per state of wherever you own houses.
So your property manager should be privy to that information and keeping up with it so that way, you know, they can better serve you and advise you on what you should do in certain situations.
So it’s a quicker video today. That’s pretty much it.
You know, I would… If you have any questions, please feel free to reach out to me.
Or you can give me a call, (423) 648-7368, extension 3. You can also shoot me an email, [email protected] Thanks, everyone. See you.
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.