9 Biggest Mistakes in choosing a Property Management Company.
Paying a percentage (%) of the lease price as a Management Fee. Why do some companies charge twice as much to manage a $2000/month home as a $1000/month home? Are they harder to manage? No. In fact, low priced homes are the hardest to manage. Tenants in those homes are usually younger, lower income, and financially or emotionally vulnerable to life’s changes. As a result there are more job losses, break ups/divorces and surprise financial happenings that can easily affect the likelihood of getting rent on time (or at all). Renters Choice charges a low flat fee of $85 per month for any home we manage.
Trusting your Management Company. Does that sound cynical? Yes. But after years of shocking stories of promises made and not delivered by other companies, not trusting your property management company is the wisest move a smart property owner can make. With Renters Choice all of our communications are documented and available to you. All repairs have invoices with photos proving the repairs were done. All inspections are documented and date stamped and continually available for your review so that you know that we have done what we have said we would do. Will you trust us? Of course. But we believe you should “Trust but Verify”.
Choosing a Property Management Company doesn’t use electronic lockboxes. Not only do we use electronic lockboxes that requires tenants register to use them, we use Realtor electronic lockboxes as well. They track all activity from who seen the house to when. They also allow us to get feedback on all showings. With feedback we can quickly discover if your price is in line with other rentals in the area or if there is an easily curable condition that we can take care of quickly. That reduces market time and vacancy days. We never use generic combination lockboxes and give the prospective tenant the code. That is a huge security issue. Once a tenant has the combination what is to prevent them from coming back into the home and taking what they want?
Rented for $1,395 on
Great classic central Phoenix ranch style home freshly painted inside and out. New carpet, lots of tile throughout. Formal living and dining area. Family room and adjacent breakfast nook next to galley style kitchen. Large laundry with extra storage. Oversized master bedroom with walk in closet and master bath with tiled stall shower. Two additional bedrooms, also a good size and huge hall bath with tub/shower combo and amble vanity area. Large lots with sprinkler in back. Front yard has new gravel for ease of maintenance. Double car garage with additional extra storage space. Extra insulation keeps power use down. Super location close to everything.