To make your rental property as stress-free and profitable as possible
Managing tenants is one of the most stressful activities on earth! Tenants are people and every person has their own agenda. You and your tenant are naturally conflicted because you don’t have the same goals so you have to be a master at handling other people’s problems and even making their problems yours. So many tenants think they are doing you a favor by renting your home … without them, your home would be vacant!
Although we strive to ensure our tenants are treated fairly and repairs/maintenance issues are resolved quickly, we do not represent the tenant … we represent you. We are friendly with our tenants but we are not friends with them - we do not build personal relationships because that's where the problems begin! We strive to protect your investment, reduce your rental property headaches, and make you the most money possible. Our leases are strict and follow the law so if we ever have to evict a tenant, we have a high probability of getting your property returned in good condition and with as little drama as possible.
We use the most accurate data available, condition of your home, and the property location to determine the highest and best monthly rent rate for your rental. Once your home is vacant, we conduct an assessment before putting it on the market. We provide guidance in getting your home ready to rent and discuss the types of improvements that would garner higher rents and attract better tenants. While we strive to get the highest rent possible, we will insist on capping rent amounts that we believe are too high. If your home is overpriced, it will sit on the market until the market rates increase or you decrease the rental amount. In either case, losing even one months’ rent can be a huge hit to your cash flow and return on investment in which you will never be able to make it up. On the other hand, we do not believe in setting low rent amounts just to get it rented. We’ve found that lower rents mean lower quality tenants.
In order to make your rental profitable, we’ve got to keep the tena nt in your property for at least 2 years – and we strive to keep great tenants forever! Turning property every year is exhausting and unprofitable. Tenants that move every year do not take care of your property because it’s just a temporary location for them. When screening tenants, we look closely at the tenant’s rental history. Tenants that stay in place for years tell us they are looking for a stable environment and are looking for a lifestyle. Tenants are declined if they have an eviction less than 7 years old on their record. We believe if they have done it to someone else, they will do it to you. If the eviction is over 7 years old, we give them an opportunity because the past eviction is often youth and stupidity. We will require extra security deposits but we would give them a chance if all else about them checks out. Tenants with multiple evictions, no matter how old, are never accepted.
To ensure your property stays in good shape so it can increase in value, we’ll perform inspections, complete with photos. We do frequent drive-bys and if the outside of the home is unkempt, it triggers an internal inspection. We will schedule a filter change or some other “repair” so we don’t give a heads-up to the tenant that we’re there to check out the interior condition. Any problems we find are immediately addressed and the tenant is put on a corrective action plan. Because the law permits tenants to “quiet enjoyment”, we do not just show up or enter without the tenant’s permission. We do not want any of our actions to be overturned by any court and we don’t want you or us to be held liable. We work with a variety of general and specialty contractors and have a list of preferred vendors that provide high quality, cost effective maintenance and repair services from plumbing to lawn care. Many of our owners end up using our contractors on their own homes – they are that good! We address repair and maintenance issues immediately which serves two purposes: 1) keeps the tenant happy and 2) keeps your asset in top condition. Our contractors guarantee their work and their great prices ensures you the most cash flow possible.