If you are tired of the headaches that come with managing property, then roperty management services is what you need. You should be looking for someone with plenty of experience in managing multi-family properties to ensure that your property is well taken care of. Depending on the size of the property, you can have offsite management, or on-site management. A good company should have the following as its main goals where your property is concerned:
1. They should be looking to protect the investment you have made. This means that they should do their best to maximize cash flow by ensuring that your properties are rented out at the highest possible rent that the conditions of the renters market allow.
2. They should find ways to reduce the costs of maintenance. Since the properties need to be maintained on a regular basis, it is important to ensure that these costs are kept low. Using their network of contractors, a company that offers property management services Kansas City should be able to control the maintenance expenses keeping them as low as possible.
3. They should do their best to minimize the amount of time that your property stays vacant between tenants. This means that the company you select should have the necessary marketing expertise to ensure that they advertise the vacant property where it will be seen by the most people and then promptly process those who are interested in the property with an aim of getting it occupied as soon as possible.
Even though property management in Overland Park should be keen on reducing the amount of time that a property remains vacant, it is important to ensure that prospective tenants have been properly screened. This process should include the following checks:
- A check of rental history – This will mean speaking to the person’s former landlords to find out what kind of tenant this person is.
- Credit check – The key things to look for will include late payments, any foreclosures or bankruptcy declarations. You don’t want to be chasing someone for the rent every month.
- Employment verification – It is important that the person have a legal means of income with which to pay the rent. It is therefore important to verify that they do have a stable job with growth potential.
- A debt ratio evaluation – This means taking a look at the person’s debt ratio both on the front end and back end.
- FICO Score – Speak to the credit agency and check on the potential tenant’s FICO Score.
Once you are satisfied with the findings, you can then go ahead and offer them the property for rent. Even though it may be tempting to skip parts of the process, it is in your best interest to stick to it.
As an experienced property manager in Kansas City, the author shares her thoughts and ideas on the 3 main goals of an experienced and professional property management company. For more details, visit propertymanagerskc.com