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Updated over 5 years ago on . Most recent reply

User Stats

42
Posts
62
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Justin Reyes
  • Rental Property Investor
  • Milwaukee, WI
62
Votes |
42
Posts

Investors, what makes a property manager GREAT?

Justin Reyes
  • Rental Property Investor
  • Milwaukee, WI
Posted

Hello, a friend and I are starting a property management business very soon. We both have our real estate license and understand how important it is to have a great property management company looking over people’s assets and we want to be one of those great companies. Can any investors out there tell me what do they look for when hiring a property Management company. Thanks a lot! Here is come services and key points will we build our company on.

-Comprehensive Marketing and Advertising

-Owner Deposit- No Delay Fund deposit to owner

-Schedule Rent Increases

-Recommend market rate rent cost

-Strict tenant Screening & Selection

-Monthly record Keeping/Statement

-Cost-Effective and Reliable maintenance

-Lease Law Compliance

-Regular “Common Area” Inspection

-24 Hour Online Access To Parking

-Rent Collection

-Lease Renewal (3 month notice)

-New Tenant 60 day Inspection

-Handle all tenant calls, emails, and texts

-Owner Communication

-Property up keeping including lawn care

Most Popular Reply

User Stats

2,028
Posts
1,418
Votes
Mark Ainley
  • Property Manager
  • Roselle, IL (Chicago Suburb)
1,418
Votes |
2,028
Posts
Mark Ainley
  • Property Manager
  • Roselle, IL (Chicago Suburb)
Replied

@Justin Reyes Responsiveness- the ability to react or respond quickly to a property, tenant, or owner needs or questions.  Includes delivery of necessary info promptly and in a positive way even if it is bad news.  We have built our business on that one word and now we actually track and use it in various KPIs to measure.  

The list you have is very boiler plate, necessary, but delivered by your competition 90% of the time.  You need to find a more efficient and repeatable way to do it 97% of the time.

  It is the ability to provide responsiveness and ensure an owner doesn’t feel he needs to manage the manager.  

Reach out anytime as we are just south in Chicago and suburbs.  I can tell you all the things not to do and things I would have done sooner or different. 

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GC Realty & Development LLC
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