Whether you are a new landlord, or an experienced investor looking to innovate, we have the experience and professionalism that will help minimize expenses and maximize profits. We can take neglected real estate and turn it into an ideal rental, whether that be updating kitchens, bathrooms or building that closet that can seal the deal […]
RPM Today was thrilled to recently be on The Money Hour radio show with local mortgage experts, Tina Mitchell and Keelan Harvey.
We hope that you enjoy listening to Miranda and Chelsea from RPM Today as they discuss property management during a pandemic.
Miranda has experience in large multi-family companies and transitioned over to helping real estate investors and accidental landlords manage their residential and commercial properties. As an accidental landlord herself, she knows the importance of having an experienced team on your side. In this week’s episode, Miranda and Chelsie discuss property management during a pandemic.
Real Property Management Today is a full-service solution for all your property management needs.
One major arm of our operation is our maintenance crew. Our maintenance crew consists of a Maintenance Coordinator, three maintenance technicians, a move out specialist, a property review specialist, and administrative support. Together, we are responsible to see that all maintenance needs are met for the various properties and problems that come with them.
Josh, our maintenance coordinator works closely with our in-house crew as well as outside contractors as certain types of work requires special permitting or licensing. Chris, our head maintenance technician oversees all project-based work, ensuring all tasks are completed and that quality is up to par.
Our process begins when a tenant contacts us about a maintenance need in the home. From there, Luis, our administrative assistant receives the complaint and commences determining the legitimacy and all details of the problem. If possible, Luis works with tenants to solve the problem on their own via troubleshooting steps. Often, we are successful in avoiding any service call to the property which allows us to close out that particular request. However, when troubleshooting does not solve the problem, we approach the owner to seek approval to handle the situation. Approval is at least in part a formality as Washington Landlord Tenant law requires action when a maintenance request is received. RCW 59.18.060 refers to a landlord’s responsibilities, where 59.18.130 lays out the responsibilities of a tenant. The law further defines expected timelines when notice is received to commence remedial action in 59.18.070 and goes on in subsequent sections to define tenants’ rights in the event work is not completed. In brief, maintenance is required while a home is rented. Appliances and features that are supplied must be maintained, repaired, or even replaced when necessary. Naturally that can be a lot to take in, and costs can become intimidating as a result. It is recommended that a landlord set aside 3 months rent.
A common question we run into is how costs are handled when it comes to completing work and how profit comes into play. We may realize a profit when overseeing maintenance. However, maintenance is much more than the time on site. As mentioned above, a complaint is received, troubleshot, approval is sought, the job is then researched and planned for in-house work or planned for a contractor, scheduled, completed, the tenant is surveyed, and the job is invoiced, and billed. Many costs are associated with this process, down to ink on the page. When we utilize our in-house crew, most of the time, work is billed by the job. This is most often to the benefit of the owner because of all the time spent diagnosing, shopping for parts, and completing the work. However, smaller and more common jobs are by the hour at $65 per hour. A $25 coordination fee is added to the total as well as material markup to cover those extra uncaptured expenses one often doesn’t realize such as a vehicle stocked with parts, gas and insurance, and more. We often obtain wholesale pricing on certain material which helps absorb any markup, so the end price is the same or similar to retail. The same logic applies to working with our contractors. As repeat customers in most situations we have negotiated rates. As a result, any markup applied will typically land a job at what a retail price would be. This is common in all general contracting work, it’s just not typically transparent in this way.
In the end, we can’t always guarantee that you will pay bottom dollar for work to be done. However, we can confidently state that prices are fair and in line with industry pricing. We hold our crew and contractors accountable to ensure a job well done and within the confines of the law. Of course, as an owner, we will always be ready to work with you to iron out costs ahead of time as much as possible so that there are no surprises. Some owners opt to place full trust in us to handle any and every need when it arises, while others want to be involved in each and every decision.
We are ready and happy to support whichever management style you need to feel comfortable about your investment. Should you have any questions, feel free to inquire at: email@example.com
Everyone is in a craze over this new pandemic that we are all taking a share in the burden. We are hearing all sorts of sad stories of those effected physically by the virus as well as those that are affected economically. RPM Today is vowed to do all we can for our clients and tenants to ensure that their safety and well being is of utmost importance. Our staff is geared and ready to handle this situation. We are still out and about doing what we can during these uncertain times. We don’t know what is to come in the days and weeks ahead, what we do know is we are a team dedicated to help each other and help those we serve.
There are only 2 guarantees in life… Death and Taxes. We have struggled quite a bit from losing our dear teammate and friend, Donna, back in January of this year. She was such an example and strength to all of us here at RPMToday. She carried a large part of our team and helped our everyday life to be much richer. As time goes by, we are able to get the work done timely and efficiently again, but the aching still lingers for us and for those who knew her.
Taxes are due in a few weeks and that often stands as a looming fear and symbol for many. We have learned that bearing down and getting it done as soon as you can allows for a freedom of thinking. This allows you to move forward and past the burden that taxes often have on us. Although it feels like the government owns us by taking so much of our hard earned money in our pay, it’s all about the perspective that we have. Here is an article that shows many other countries that have much higher taxation on their people than what we have here in the US. When putting the right perspective on things, we can have a much better attitude and outlook on what taxes we pay to our government. Now, if we could get the government to be more efficient with the funds that they do receive through taxation, we would all have a little less to complain about.
Summer Property Maintenance Tips
Preventative maintenance beats reactive maintenance any day of the week. Small, consistent investments in maintaining the quality of your property will save you time and money not only in the short term, but also in the long run. You can avoid the headaches surrounding unexpected fixes by following this summer maintenance guide from Real Property Management Today.
While small weeds and tree shoots may look harmless at first, the damage caused can be pricey. During summer months, the team at Real Property Management Today plan regular property walk-throughs to ensure growth is not occurring beneath concrete surfaces. They know the importance of avoiding water line intrusions, pavement fixes and resurfacing due to overgrowth. Also, watch for growth encroaching on walls or houses on other properties, or nearby AC units or power lines. Overgrowth of this kind can prove annoying at best and hazardous at worst. Just make sure that when you hire a tree service company, you hire someone with proper experience, licenses and insurance. Keeping your landscaping in check is an important part of your summer task list.
Air Conditioner and Electrical Units
Replacing AC filters monthly is a good standard practice. However, if your tenants do not keep up on monthly replacements, Real Property Management Today ensures that unit filters are fresh before and after the summer heat. This step is vital to increasing the life of your systems. Replacing filters as well as getting in your annual servicing of the unit before the brutal heat of the summer hits will keep your tenants happy and your wallet fuller by avoiding early system failures. In addition to your AC units, quickly checking other electrical features for damage will help you avoid fire hazards or potential problems.
Insects can be an issue for any rental, no matter how clean the property is or the tenants are. Real Property Management Today takes precautions to curb the problem before it becomes a full-fledged infestation. During summer months they can take care of repairs to the property windows and screens. Tears in screens or gaps in frames can allow for bugs to invade the property. Making these small repairs upfront will help you avoid the issue altogether. Regular pest control extermination can also prevent long-term pest problems and keep tenants happy.
A little bit of maintenance goes a long way as an investment to avoid larger, long-term problems. Before you begin your summer fun, follow these few tips for preventative summer maintenance. Real Property Management Today knows that one of the best ways to avoid middle-of-the-night calls and tenant and management frustrations is by being a proactive landlord. Schedule a quick review today.
People don’t care anymore. We are all so overloaded by media that we overlook those in need around us. Its people like this lady that make the world a better place.
What to Inspect When You’re Inspecting: The Importance of Conducting Regular Inspections
Inspections should not be dreaded by Tacoma area investment property owners, and instead should be looked upon as a time to make improvements on your property. It can be a way to make more money, make your properties safer, and even spread out costs. For do-it-yourself landlords, it can be hard to know exactly what you are looking for when conducting inspections, so we have put together some tips from the Tacoma property management pros.
Inspection Musts From Our Tacoma Real Property Management Today Company
Placing property inspections or reviews on the back burner is doing a disservice to yourself, your tenants, and your property. It’s not safe, and in many cases, it isn’t legal. One of the reasons we have become a leader in the Tacoma property management industry is because we take the time to carefully check the property during routine inspections for issues that can easily escalate.
Not sure what to look for? Cover your basics:
- Plumbing issues: check for noticeable leaks or cracked pipes; replace faucet washers as needed.
- Appliances: verify the water heater, furnace, air conditioner, and any other major appliances supplied by you are in working order
- Maintenance and Repairs: be proactive about small things now before they turn into big things later
- Ensure lease compliance: Don’t allow pets? Limited to a certain number of occupants? Smoking banned inside the home? Verify that the rules laid out in the original lease are being followed by the tenants.
During the property review, take note of any new damage done to the property, and document it with pictures. Any issues that are discovered need to be addressed in writing when the review is complete. From there, you can work on ways to solve the issue – whether that means you are going to require cooperation from your tenant or you need to hire a professional to fix something.
This generation has caused a great commotion over heavily distracted drivers. Reports have shown large increases in accidents from people being distracted while driving due to cell phone use while driving. This link Shows some great alarming statistics on why we shouldn’t text and drive. The most alarming fact is that 11 teens die daily as a result of texting while behind the wheel.
Buckle up and drive safe.