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Attributes Of A Good Property Management Service In Seattle
by
Tyrion Lannister
Many real estate investors are looking for a good property management service in Seattle. They want a company that does a lot more than collect rent checks and take out a fee. The property management company should accomplish three things. First of all, it should allow for the real estate investor to make money by collecting rent from good tenants and to not overcharge on maintenance. Second, the company should make sure that the property is being maintained properly. Finally, they should make sure tenants are happy with the service so that they\’ll stay and help keep the property fully rented.
First of all, a good property management service in Seattle should be willing to negotiate the fee, especially if the competition is willing to offer the same services at the same quality level for a bit less money. Times are tough for everyone right now, and a property management company should be willing to negotiate the fee. If the company is unwilling to budge, that may be a good indication that another company should be chosen instead.
It is very important to keep the property rented with paying tenants. That means two things. First of all, the property management service in Seattle needs to do some marketing to bring in new tenants. The real estate investor loses money if the property management company can\’t keep the building fully occupied. Also, it is important to make sure that the right tenants are chosen. That means making good judgements when getting the tenant\’s credit history and criminal records. If bad tenants are chosen, that causes losses for the owner from unpaid rent. And the space cannot be used until the bad tenants are evicted. That is why marketing and tenant selection is very important.
Another favorable attribute for a property management service in Seattle is the ability to communicate. This means the people at the property management company should communicate in a timely manner. Tenants will be unhappy if it is difficult to reach the property manager. The same thing is true for the owner of the property. If a real estate investor is concerned about the property, the property manager needs to respond in a timely fashion by phone or email. If this doesn\’t happen, then a new property management company should probably be chosen.
Finally, it is important to take a look at how the property management company handles maintenance. The goal of the real estate investor is to make money. Having a nice property that tenants are happy with is a secondary goal. In order to accomplish both of these goals, the property manager should have access to an affordable crew that performs the maintenance work. Also, the contract should have an agreed upon maximum limit for repairs without having to contact the owner. That limit should be reasonable to both the property manager and the property owner.
At the end of each month, the property management company should send a statement that details everything from the rent collected to the maintenance expenses. If the real estate owner is losing money, getting prompt statements from the property management company allows the owner to deal with the situation before it becomes three more months of negative cash flow.
The choice of property management company is a very important one for real estate investors to make. A good one can make a property profitable and cash flow positive. At the same time, the property manager will keep tenants happy with proper maintenance. That is why real estate investors should look carefully at property management companies prior to picking one to hire.
Article Source:
ArticleRich.com