MULTI FAMILY PROPERTY MANAGEMENT
MULTIFAMILY RESIDENTIAL PROPERTY MANAGEMENT
Managing and maintaining apartments and other communities is no easy task for a landlord. Real Propery Management Today assists landlord with tenants, helping care for units, and more. Real Property Management takes on the various multi-family property responsibilities. The responsibilities that are required to properly and efficiently manage a multi-family rental property.
BENEFITS OF WORKING WITH RPM TODAY FOR MULTIFAMILY PROPERTY MANAGEMENT:
Our team of experienced professionals handle all your multi-family property management needs.
Some of the services that we provide include:
Administrative and financial services | Rent collection | Tenant Management | Lease enforcement | Inspections
Unit maintenance and repair services | Bookkeeping and records management | Marketing your property | Addressing legal concerns
When you partner with Real Property Management Today to help manage your multi-family property. Your job as a landlord becomes much easier. RPM Today can help increase the profitability of your properties. All while keeping your tenants happy and managing dwellings more efficiently. We also manage single-family rental properties.
MULTIFAMILY PROPERTY MANAGEMENT PUGET SOUND
When you have planned, prepped, scheduled, and organized your business to function like a well-oiled machine, the last thing you need is to be let down by your property management firm. The industry is full of promises about how they can “exceed expectations”, but how do you avoid falling in with a bad crowd when selecting who to manage your properties for you? Here are some of the most common problems that can occur with property management, and some suggestions on how to avoid them.
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.
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. These mistakes increase 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. A 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. Show your tenants that you are responsible and proactive about making this house their home.
BAD OR NO TENANT SCREENING
It will be the case with your properties that a handful of your tenants cause the most problems. Even if 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 how to:
Pre-qualify all potential tenants
Check their prior rental history
Perform employment and credit checks
And ask for references, before signing anything away
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. 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.
Real Property Management Today is the preferred choice for multi-family property management in the South Puget Sound. Reduce your workload as a landlord and contact RPM Today to address your multi-family property management needs.
HERE IS A GO-TO LIST OF WHAT WE PROVIDE:
WEB PORTAL SETUP AND TRAINING FOR OWNERS AND TENANTS.
ATTENDING COURT EVICTIONS, IF NECESSARY.
ATTENDING TO DAILY TELEPHONE, E-MAIL AND FAX INQUIRIES.
PREPARING CALENDAR MONTHLY STATEMENTS FOR PROPERTY OWNERS AND COLLATING SUPPORTING INFORMATION FOR THE OWNER’S STATEMENT.
TIMELY RENT COLLECTION.
PREPARING ANNUAL YEAR END INCOME/EXPENSE STATEMENTS & IRS 1099 FORMS.
TRAINING FOR TENANTS TO MAKE RENT PAYMENTS ONLINE.
(IF THEY CHOSE THIS OPTION)
LIAISON WITH HOMEOWNER OR CONDO ASSOCIATIONS, IF APPLICABLE.
SENDING RENT PAYMENTS BY MAIL OR DIRECT DEPOSIT TO OWNERS.
ORGANIZING UTILITIES TO BE TURNED ON AND OFF WHEN REQUIRED.
A MANAGER ON-CALL 24 HRS A DAY, 7 DAYS A WEEK, 365 DAYS PER YEAR.
CONDUCTING ANNUAL RENT REVIEWS.
REGULAR FOLLOW-UP WITH MAINTENANCE CONTRACTORS.
ORGANIZING KEYS FOR SHOWINGS, INSPECTIONS AND REPAIR VENDORS.
PROCESSING NOTICES TO VACATE OR TO RENEW A LEASE TERM.
WRITING AND PLACING ADVERTISING IN VARIOUS MEDIA.
(SEE MARKETING PLAN)
LIAISON WITH INSURANCE COMPANIES, WHEN AUTHORIZED.
ATTENDING TO PAYMENT OF VARIOUS PROPERTY EXPENSES.
CONDUCTING VIDEOTAPED AND WRITTEN MOVE-IN/MOVE-OUT INSPECTIONS.
COLLECTION OF LATE RENT THROUGH VARIOUS LEGAL MEANS.
LODGING SECURITY DEPOSIT CLAIMS, WHEN NECESSARY, IN ACCORDANCE WITH THE LANDLORD TENANT LAWS.
LEASE ENFORCEMENT WITH TENANTS.
LIAISON AND ASSISTING WITH SALES BROKERAGE FIRMS.
HAND DELIVERIES OF NOTICES TO TENANTS.
(AS NECESSARY)
MAINTAINING A PROFESSIONAL OFFICE WITH THE LATEST IN TECHNOLOGY AND PROPERTY MANAGEMENT TOOLS IN OUR INDUSTRY.
ATTENDING TO CORRESPONDENCE.
CONSTANT ONGOING TRAINING AND CUTTING EDGE KNOWLEDGE OF OUR INDUSTRY.
ADMINISTERING RENT THROUGH THE TRUST ACCOUNT.
FILING EVICTIONS, IF NECESSARY.
DIRECT SUPERVISION BY COMPANY MANAGERS WHO HOLD THE PRESTIGIOUS DESIGNATIONS OF PRM (PROFESSIONAL RESIDENTIAL MANAGERS) AND PME (PROPERTY MANAGEMENT EXPERTS), THROUGH THE REAL PROPERTY MANAGEMENT TRAINING ACADEMY.
CALL FOR A NO-COST PROPERTY ANALYSIS
Find out the value you didn’t know you had
Start planning your future.
Take time to do what you want to do.
