10 Reasons to Hire Prospect Property Management (PPM)
Bonus Reason! FREE TIME: A good residential property management company will free up your time for you to do the things you truly enjoy!
Rent Collection: Prospect PM has systems and strategies to improve rent collection
and on-time rent payments. This quick and consistent rent collection is absolutely
critical in this real estate market where good cash flow can mean the difference
between success and failure as a real estate investor.
Local Knowledge of Rental Rates: Prospect Property Managers have extensive
local knowledge of rents and the ability to determine the highest rental rate possible
for your property. Knowledge of rental rates is a key factor to fast rentals and quick
Tenant Screening: Prospect Property Management uses a detailed application
from each adult with photo identification, run criminal and credit checks, verify
income, and call past landlords. Property Managers have set requirements and standards
for accepting or declining an applicant and thereby ensuring you comply with fair housing
rules and other local and state regulations.
Marketing Expertise: Our Managers have experience in how to best market your
properties so they are rented in the quickest time possible.
Property Law and Regulations: Prospect Property Management have extensive
and up-to-date knowledge of property laws and regulations and will assist you in
making sure you are in compliance with your local, state and federal rules and regulations.
Avoiding one law suit will more than pay for any management fees many times over.
Tested and Reliable Professionals: We have already vetted numerous vendors,
suppliers and contractors to make sure they provided good quality work at reasonable
prices. Failure to properly vet these professionals can be a costly mistake.
Inspection Reports: PPM will perform property inspections before, during and
after a tenancy. Additionally, most Property Manager's will perform routine property
inspections annually. Faults in your property that are found quickly can be resolved
before they become expensive items of disrepair.
Financial Records and Security Deposit Escrows: PPM will provide detailed income
and expense reports saving you the bookkeeping headache. Property Manager's will provide
end-of-year tax reports for your accountant or financial advisor.
Emergency Calls and Shield You From Tenants: Prospect Property Management will
shield you from emergency maintenance calls and tenant headaches. Imagine never having
to deal with late night "my toilet is overflowing" call.
Low Costs: A PM should only be charging around 8% to 10% of the monthly
rent collected. Assuming a monthly rental rate of $1200 per month that is a fee
of $96 to $120 per month, this is less than $4 per day! Can you possible do all
these things for less than $4 per day?