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Most people who own rental housing have one of two goals:

1. Earn extra income from a rental investment
2. Break even (or lose less) on a house that can’t be sold for what is owed to the bank

Hiring a professional property manager may seem like an additional expense that works against your goal to make, save, or lose less money. However, just the opposite is true. The Real Property Management Today system saves you money by working more efficiently to avoid and shorten vacancies, place the right tenants, collect on or evict the wrong tenants and maintain properties cost-effectively.

Poor Communication

Moving into a new place is an exciting, albeit nerve-racking time. Tenants are going to have questions, they are going to be calling, emailing, even writing to you at all hours of the day and night. The best way to get off to a bad start is to use a property management team that fails to respond to these communications. The management team you work with should take the stress out of managing your properties, not add to it. If you don’t want to deal with unanswered calls about your property, constant follow-ups on whether maintenance has been done, and a lack of support throughout the rental process, trust a company like Real Property Management.

Bad or No Tenant Screening

It will be the case with your properties that a handful of your tenants cause the most problems. Even with 75% of your properties leased by tenants who keep things clean, pay on-time, and follow the rules, you could still find yourself overcome with grievances because of the remaining few occupants. Tenant screening is not only important, but it has to be thorough – your property management firm should know to pre-qualify all potential tenants, check their prior rental history, perform employment and credit checks, and ask for references, before signing anything away.

Cutting Corners, Not Costs

The cheapest prices aren’t always the ones that save you the most money. Often, management companies that charge the least will end up making the most costly mistakes, increasing the maintenance costs and even incurring legal fees. In addition, working with smaller property management firms often means you end up paying more than you should for maintenance. Real Property Management has a large footprint in the industry that allows them even bigger discounts and deals, passing the cost savings on to you. When looking at price, weigh up the value of your business in the long term, and find a fairly and openly priced property manager who’ll add to your value, not subtract from it.

Lack of Routine Inspections

The best way to multiply your maintenance costs is to wait until something is broken to fix it. Preventative maintenance, such as new caulking in bathrooms, regular gutter cleaning, and frequent inspections of the property and its fixtures and fittings can save you thousands of dollars in the long term. You want to start your leasing on a good footing, so you need to make sure properties are clean, functional, and safe before handing over the keys. Find a property management company that is willing to put in the time to thoroughly and routinely check all your rental properties, and show your tenants that you are responsible and proactive about making this house their home.

Unclear Accounting

You didn’t start this business because you were skilled in accounting, and it certainly shouldn’t become the main pain point of your daily operations. One common problem with property management companies is that they make their accounting process confusing, complex, or just counter-intuitive to use, and in addition to poor tools with few features, they often spit out formulaic data rather than tailoring the report to the needs of the business owner. When tax time comes around, don’t be the one panicking and paying someone else to pick up the pieces – use a property management company that offers clear, round-the-clock accounting tools.

The Neighborly Done Right Promise

The Neighborly Done Right Promise ® delivered by Real Property Management, a proud Neighborly company

When it comes to finding the right property manager for your investment property, you want to know that they stand behind their work and get the job done right – the first time. At Real Property Management we have the expertise, technology, and systems to manage your property the right way. We work hard to optimize your return on investment while preserving your asset and giving you peace of mind. Our highly trained and skilled team works hard so you can be sure your property's management will be Done Right.

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