What You Need To Consider When Hiring a Property Manager

Once you have actually found a good rental, the next step is to pick a great property manager.  In searching, you want to do a thorough interview, and in doing so, you will be able to determine if they are worth working with.  Here are some questions to keep in mind when choosing a property manager:


How do they control maintenance costs?  
Make sure the manager has you approve a list of vendors, which will include a plumber, handyman, electrician, painter, etc.   Ask your manager to contact you only if a certain project goes over the maximum expense.

How do they advertise vacancies?
As a landlord, your goal is to have maximum exposure for your vacancies to shorten the time that a rental goes unoccupied.  A good manager will be aggressive n their advertisements.  You don't want your property staying vacant for too long.  Aim for free advertising, like Craigslist or Facebook.

How do they show properties?
The process used to show properties describes whether they will be successful or not in obtaining quality tenants.  For example, if your manager only shows properties 8-5, this decreases your odds of getting a tenant with a day job.

How does the company screen tenants?
Ensure in-depth credit,criminal, employment, and prior residency checks, these checks can find any negative history and keep you from some big losses.  All it takes is one bad tenant to turn you off to rental properties.

How does the company deal with accounting and owner reports?
Your property manager should have a quick system to provide all lease expiration data on your properties, move-in/move-out inspections, lease documents, open work orders, and tax information.


How does the manager deal with after hour emergencies? 
Most property managers will have a 24 hour maintenance emergency line to handle requests immediately.  Be sure the manager has a line and it is staffed 24-7.

How do they deal with evictions?
Ask your manager how often they file for eviction on their current properties.  Usually a high rate of eviction can determine that the manager is not accurately screening applicants.  A renter should be able to pass a basic credit check and have an adequate landlord reference.


As a property investor you have the choice of managing your properties yourself or delegating the day-to-day operations to managing agents.  It is critical that you choose your manager wisely as the company can considerably increase the return from your property.

Whatever type of property you need – residential, retail, office, wholesale or industrial – we at Landmark Group can help you buy, sell, maintain or renovate. We can also help you manage your property. Just give us a call.

Property Manager's Guide to Advertising

Key words and elements included when advertising a rental property can be the difference between good tenants and destructive tenants.   Here is some important information to include in your advertisements:

#1.  Contact information
The more available you are, the more potential tenants will trust you as a responsible and considerate manager.  Be sure to provide a phone number where you know someone will always be able to answer.
 
#2.  Specs and Amenities
Most property advertisements only list the square footage.  At minimum, always list the property’s square footage and the number of bedrooms and bathrooms it has. Expand upon the specifics of the rental with details such as appliances, floor coverings, closet space, and so on. Desirable items you’d want to highlight might be an in-unit washer and dryer, out door space,

#3.  Rental Amount
When advertising a rental property, be careful to only charge the market rent, or slightly less.  This is regardless of what overhead or costs are attached to the property.  Some tenants can be quite familiar with the market, and may not even consider looking at your unit if the price is too high above market.  
#4.  Location
Location is a big priority for most people.  With the technology of GPS, it is extremely helpful for potential tenants to have the exact address.  It is also wise to include the cross-streets.  Some advertisements only include a general area, know your area and keep this in mind when listing your advertisement.

#5.  Pet Policy
Whether or not you allow pets will likely be a huge factor as price and location, studies show a vast majority of renters have a pet of some kind.    If you have breed or size restrictions, say so.  Make your pet policy AS clear as you can in advertisement to avoid confusion or conflict later on.

#6.  Screening Process and Background Check
It can save you a considerable amount of time and money if you are upfront about the fact that you intend to run a background check on applicants.  if you explain that you will require references, you will weed out the tenants with a poor rental history.


 Use your word choice wisely to attract the tenants that are right for you.  You want to include accurate information that isn't misleading or deceptive, the main goal is to make sure your ad stands out from the rest.

What you should know when looking for the right apartment

It's beautiful, in Little Italy downtown with everything you've ever dreamed of. Hard wooden floors, a view of the city, all appliances included... But you are not the only one that has had that same dream of living there and that vision. So what can you do to make this reality happen? Here are a few helpful tips to secure exactly what you are looking for:

• Approach your rental search like you would a job search. Come to your appointment organized, serious, and professional. This will help you stand out as the most qualified for the unit you want. 

• Know exactly what you want!!! Landmark posts all of their available rental properties on Craigslist, and all the details of the rental can be viewed there first. Be prepared to make a decision and act upon it, leave a deposit:cashiers check or money order. This will assure that the place is yours.

• Also, come prepared with the information you will need to complete the application  prior address, landlord reference, and a personal reference. It is also important to have a copy of the most recent paycheck stub available, and a driver's license or other form of photo ID.

• Walk or drive around the neighborhood. Ask a neighbor what the area is like and if they like living there. While you are looking at the place to rent check out the parking areas, hallways, and the common areas of the buildings. 

Covering all of your bases and making sure you are prepared can help make the rental process fast and successful. Making sure that you are completely satisfied with your new home is very important because it will be your home for a year or more.