A property manager is responsible for the maintenance and upkeep of the properties they serve. Their duties include, but aren’t always limited to:

• Inspecting properties before, during, and when the lease term ends
• Preparing properties to rent
• Being an agent for the owner (landlord)
• Making properties available for potential tenants to walkthrough
• Screening applicants
• Marketing rental properties
• Coordinating lease renewals and signings
• Maintaining investment properties
• Providing financial and administrative functions
• Providing on-site maintenance, management services, and leasing for apartment rentals
• Logging all correspondence for the entire management system
• Corresponding with tenants and owners
• Utilizing rental management computer software
• Coordinating utility payments pre-rental and in-between rental periods

The job of a property management company is to prepare a rental property for viewing, interviewing applicants, collecting rent, making necessary repairs, and, when applicable, helping with the eviction process. Most property agreements are charged according to a flat fee per month or as a percentage of the gross monthly rent rate.

The percentages typically range anywhere from 5-15%. Other fees that might be applied outside of the agreed upon monthly commission could stem from lease renewal fees, the initial rental set up, early service cancellation, costs of advertising above and beyond what is included, and any additional charges for repair work.

The property, along with photos, are advertised both on the website and on the Carolina Multiple Listing Service (MLS). Properties are also listed on various online sites and home directories.

Our management company screens applicants thoroughly to reduce rental risks. And, we strategically place rental signs on the property to attract potential renters.

A Property Information Sheet is specifically prepared for each property with all the pertinent information for each rental.

Several market factors will help to determine what your lease rate per month will be. Things like the property's location, the rent of competitive housing in the area, and the size of the rental will all help to calculate how much income your property is worth per month.

Unfortunately, we have very little control over the rental rate in a specific location; it is guided by market factors and the value of properties in the surrounding area. For help estimating what your property is worth, please contact our office so we can discuss your individual property.

Our company performs regular inspections. Intervals of inspections include midway through the term of the lease, at the end of a lease after it is vacated, and at other times at the owner’s request. We recommend periodic inspections to ensure that all preventative maintenance is done promptly, and also to reduce the risk of tenant damage to the rental property.

By pricing a rental property too high, you might incur a high vacancy rate, which means missed rental opportunity. So being realistic about what your rental property is worth is essential to generate the monthly income you anticipate.

Although you want to reduce the risk of nonpayment by a tenant, basing your decision wholly on one factor like a credit score, might limit your tenant pool. And that can lead to more vacancies.

The reason you hire a property management company is to help you navigate the complexities of an investment property. If you are going to spend the money to have someone manage it, it is best to trust their advice. The property management company is there to help you make money so that they are successful too!

Ignoring Tenant Concerns

By ignoring the concerns of a tenant, you can create additional issues for yourself. Right now, the rental market is doing well, and there are a lot of properties to choose from. If you do not take tenant concerns seriously and respond timely, you run the risk of creating a poor reputation. And that can lead to reviews that could hurt your future ability to rent.

The rate of communication between you and the property manager is guided by how much you want to be involved and notified about specific things. Although you are turning over your investment property to a management company, it is still your investment.

And as such, you will want to have regular communication to ensure that you know what is going on. You can determine what guidelines of contact you want to set and how you would rather be notified, when necessary, by email, text, or phone.

We handle the overnight calls so that you don’t have to. That is one of the luxuries of hiring a property management company. We not only respond, but set emergencies to be prioritized and attended to them when necessary.