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SUCCESS OBJECTIVES
MAXIMIZE CASH * RAISE VALUE * REDUCE
RISK/STRESS
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THESE IMPORTANT GOALS ARE ACCOMPLISHED BY PROVIDING
THE FOLLOWING SERVICES:
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Marketing
Define Current and Preferred Tenant Profiles:
BEST- Can walk on water, turn water into wine,... wake the dead,
etc.
Preferred- Verified stable income, good report from current
landlord, acceptable credit report, and a desire to make the
residence a "home", not just a domicile.
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Set Rents To Maximize Cash
Flow While Ensuring High Occupancy : Vacant properties
don't pay well.... Sensible pricing and realistic owner expectations
go a long way in helping create a good cash flow. It's amazing
how many new owners will tell us how much money they need to
get based on their mortgage payment and expected expenses. It's
funny, but tenants don't care what your expenses are. They are
only willing to pay what the market will bear. We use the MLS
(Multiple Listing Service) to "run comps" for the
property. We attempt to find properties of the same type and
size in the same subdivision in making our rental price determinations.
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Maintenance
& Operations
Update and Select Service Contractors: We use
our available venders based upon the service needed and the
expertise involved. We do not send a handyman to replace or
repair an electrical circuit panel. We also, do not send an
electrical contractor to replace light bulbs or standard interior
grounded fixtures. We attempt to place the best person for the
job to do the work. We require anyone that we send out to do
work at your property to be licensed and insured.
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General Maintenance
We encourage owners to make all necessary repairs as soon as
possible and to set aside funds for unforeseen maintenance issues.
Every owner would like it if nothing ever broke, the trees and
grass stayed healthy but didn't actually grow, and that soft
pliable water proof parts never wore out..... sorry, that may
happen where you live but it doesn't happen here in Las Vegas
where the temperatures routinely reach 120 degrees in the summer
and freezing in the winter. |
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Keep good tenants happy by making
the necessary repairs.... prepare, and anticipate. It will make
owning your investment much more enjoyable. Happy tenants are
tenants that stay longer, pay higher rent, put their own money
into your building, and even will help refer other good tenants
to your property. What tenant wants to stay in a place where
he gets no support. This attitude, does not mean the tenant
gets everything that they ask for. What it does mean is that
they do not have to wait to get results on the basics like a
broken appliance or leaky water pipe etc.
It is not unusual for a new tenant to request repairs right
after they have moved in, especially if it was the owner that
just moved out. A property grows on a person. That squeaky door,
or the window that never did open probably didn't bother the
previous tenant or owner, or it would have been fixed. However,
it's a big concern and issue to the new tenant, especially if
they are concerned about being held responsible for it when
they move out. They may enjoy opening widows in the evening,
or they need to be able to get out of the room and shut the
door without waking the baby. Owners need to expect several
small repairs when a new tenant moves in. Their life style is
not yours or your previous tenants, and there is usually something
that does not "work" for them. |
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