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Property Manager
April 28, 2022

5 Signs It’s Time to Fire Your Property Manager and Hire a New One

James Summerlin / Blogging /

Apartment occupancy rates in the US are at an all-time high, with over 96% of units being occupied. So if you aren’t filling your available units with ease, there might be a problem. If you’re considering getting rid of your current property manager, you might be hesitating. 

It’s hard to know when someone truly deserves to be fired. Keep reading to learn five signs your property manager isn’t doing their job right.

1. Too Many Negative Reviews

Did you know 94% of people have avoided a particular company because of a bad review? So you could be missing out on many potential tenants if your bad reviews are racking up.

Negative reviews are a clear sign your property manager isn’t dealing with problems and keeping people happy. Many people only leave bad reviews when things are terrible as the last resort to warn other people, so chances are they could be avoided.

2. Rent Is Below the Market Rate

Ideally, your rental property rate should be at or above the current market rate. If you provide good service, have up-to-date units, and are on par with other rentals in the area, charging less than what they do is another clear sign something is wrong.

If a property manager has the right qualifications, they should easily be able to accomplish this simple task.

3. They Don’t Know Laws/Regulations

The person managing a rental community needs to know the laws and regulations of the state they’re in like the back of their hand. If your property manager often seems unaware of these, it can lead you to have significant issues in the future.

4. It’s Difficult to Reach Them

If you have a hard time reaching them, imagine how difficult it is for tenant complaints to be taken care of before they spiral out of control. 

Your manager needs to be accessible within a reasonable amount of time so you can keep tabs on your business and tenants can have their issues handled promptly.

5. The Property Doesn’t Look Great

You might not be able to keep a close eye on the property maintenance, but your property manager should be able to. If the property isn’t being well maintained when you visit the area, that’s another issue that falls on their shoulders.

Hire a Better Property Manager to See Stellar Results

Having a poor-performing property manager can lead to unhappy tenants, low profits, and many more headaches down the line.

Keep an eye on these five key areas to see if your property manager might not be cutting it anymore. The sooner you let them go, the sooner your rental property can get managed by someone who will turn the place around and leave you with glowing reviews to enjoy in no time!

If you want a team of trusted real estate individuals by your site to handle your property management for you, contact us today to see what we can do to take your property to the next level.

property management near me
April 7, 2022

Property Management Near Me: 5 Myths Debunked

James Summerlin / Property Management /

When you have a house you’d like to rent out, having to manage it can be the thing that prevents you from turning it into an investment. This doesn’t have to be the case, since there are plenty of property managers that can take it over for you. Property management is a field that has a $101 billion market size. What makes the field of property management so important? How can I find property management near me?

We’re happy to steer you in the right direction, starting by dispelling some common property management myths. 

1. Property Management Only Involves Collecting Rent

Many people underestimate the importance of a property management firm. This is generally because they think that property managers only collect rent from tenants. 

That notion couldn’t be further from the truth, because property managers play a lot of different roles. Here are some of the tasks that property managers routinely handle:

  • Appearing in court for evictions and other cases
  • Maintaining bookkeeping and accounting for a property
  • Taking prospective tenants on tours
  • Processing maintenance and repair work requests
  • Making improvements to the property that get a return on investment (ROI)

Get to know what services you need so that you can prioritize them when hiring a manager. 

2. Property Management Service Is Expensive

It’s this myth most of all that keeps people from taking advantage of property management services. Property management is not only cost-effective, but you typically don’t even pay money out of pocket. 

Most property managers collect a percentage of whatever rent you collect each month. Ask about their percentage upfront to make sure that it’s fair and affordable. 

3. It’s Easy to Find Good Tenants

It’s easy to get applications, but finding good, reliable tenants takes some work. It’s work that the average property owner doesn’t want to do because it takes so much time and research. 

At a minimum, you need to background check and screen every application. A property manager will take it a step further and call references so that you can find a tenant that is trustworthy and likely to take good care of the property. 

4. All You Need Is Software

Because there are so many Software as a Service (SaaS) platforms available, many people think it’s easy to go plug and play with your property management needs. While these software platforms are sophisticated, there’s no substitute for having a human being who understands the industry. 

There are several questions and nuances of property management that software can’t account for. Your property manager is also the face of the property, which makes their hire an investment that will keep paying for itself. 

5. Good Property Managers Are Hard to Find

Since the industry is so vast, you shouldn’t have an issue finding a good property manager. Always check their credentials and make sure that they serve your state and city. 

Schedule consultations to discuss their background, how many properties they manage, and how they can help you get the most from yours. 

How Can I Find Property Management Near Me?

Start with this property management guide so that you have a better understanding of these services. 

Now, there’s just one question you’re likely asking yourself – “How can I find property management near me?”.  

At Outland Real Estate, we can serve any property management or real estate needs that you have with care and professionalism. Send us a message, or give us a call at (815)300-3559.

hiring property managers
February 9, 2022

A Complete Guide to Hiring Property Managers

James Summerlin / Property Management /

The roof needs fixing, there’s a leak in the basement, and the dryer stopped working. Those are just the texts you’ve gotten from your tenant in the last week.

If you’re new to property management, you’re likely trying to do everything yourself. And while that’s doable and frugal in some situations, it’s not the right option for everyone. Hiring property managers can make your life easier in various ways (more on that later), but you may be cautious about anything that digs into your profits.

Learn the pros and cons of getting help with your properties below.

Should You Hire a Property Manager?

Here are some questions to ask yourself when deciding if hiring a property manager is the right step for you:

  • Do you live near your rental property?
  • Do you have the mental real estate to be a landlord?
  • Can you handle more stress right now?
  • How many properties do you have?
  • Do you have a handyman and/or maintenance company you trust?
  • Are you comfortable with the financial tasks associated?
  • Do you have a good understanding of landlord/tenant laws?
  • How much are you making per hour as a landlord?
  • Are you comfortable handling evictions or late payments?

Most property owners decide to hire managers when they hit their second or third property because of the abovementioned stresses. It’s also a good idea to hire a local property manager if you don’t live nearby.

What Are the Benefits of Hiring Property Managers?

Having someone to manage your rental for you can be a godsend to the overwhelmed investor. If you feel like you can’t handle one more call from your renter, it may be time to invest. Here are some things that might convince you …

Property Managers Can Handle Maintenance and Repairs

When you hire a property management company, they either have on-staff or contracted repairmen and maintenance staff they work with. That means you won’t have to read through hundreds of reviews online to find the right yard company or handyman. All you’ll need to do is let your manager know what services you want when.

The Have Online Payment Technology Set-Up

Accepting payments from your renters can be a pain, especially if you’re not local. You’ll either have to set up a direct deposit and automatic withdrawal each month for each renter or accept checks. Property management companies handle all this for you and have already paid for the software and associated fees.

Because of that, you can get your profit deposited into your bank account from one source and you won’t have to chase payments.

They Reduce Your Stress Level

Having a property manager means that someone … manages your property for you. You won’t be 100% hands-off, but you’ll do a lot less work than if you were trying to do everything on your own.

The Cons of Hiring Property Managers

The only downside of property manager hiring is that there are fees associated that will reduce your net profit. However, if you have more than one property or are already overworked, those fees are more than worth it.

Finding the Right Property Managers for You

Once you decide on whether you’re hiring property managers or not, you’ll need to find the right people for the job. We pride ourselves on being your most reliable ally in the real estate market and strive to be the best at our jobs.

Click here if you’re ready to talk to our property managers about your investment.

rent collection
January 14, 2022

A Quick Property Manager’s Guide to Rent Collection

James Summerlin / Blogging /

Statistics show that 100.9 million people live in rentals throughout the United States.

This means that several landlords and property managers are in charge of collecting rent from their tenants each month. 

How can you help make this process successful for both you and your tenants? Where are you facing the most trouble with this process right now? Are there any new strategies that you can try? 

Keep reading to learn more about how to master the art of rent collection.

Make Rent Collection Simple

The goal of the rent collection process is to make it as simple as possible. Putting yourself in the shoes of your tenants and walking through the process of paying rent can help you see where improvements can be made. 

Accepting mobile payments when collecting rent is a newer concept that many people are wanting to use. There are many apps, such as PayPal or Venmo that make it easy for money to be transferred immediately.

Another option is for them to be able to pay online easily without having to visit the leasing office during specific days or hours.

Choose Great Tenants

This is the goal of every property manager. Great tenants mean little to no issues, on-time rent payments, and reliable behavior.

Unfortunately, this is not the case for every property manager. It is hard to determine from an application or short conversation whether someone will pay rent on time and be a great long-term tenant for you. 

Part of the search for great tenants may require some outside help. We specialize in real estate services to the Central Coast of California and can help you find the right people to rent your properties.

Communicate Expectations

What are your penalties for late payments? How can your tenants contact you if they are having trouble paying rent? What are your expectations for each tenant?

For most properties, tenants will sign a lease. In this lease, there are typically legal terms that they are agreeing to that include paying for the rent on the property for the duration of their time there. 

After the lease is signed, it is important to continue the communication about your expectations to your tenants. Having written documentation of all of this information is also important if there are disagreements about rent payments later on. 

One way to do this can be to put out a newsletter each month and include information about the rules and penalties when it comes to rent payments. Having a conversation with anyone that has a late payment can also help prevent it from becoming a repeat issue in the future.

Get Paid Today

Now that you have read more about how to master the art of rent collection, you can get paid by your tenants today. If you have any questions or would like to work with us, please contact us at your earliest convenience.

Check out our blog on our website for more helpful property management articles like this one.

property management
December 13, 2021

How property Management Can Save a Landlord Money

James Summerlin / Property Management /

Paying for a property manager for your rental property might sound like a costly endeavor. When you’re a landlord, maximizing the profit on your rental property is always the number one priority. Bringing in property management to do some of the work that you’ve been doing might seem like an unnecessary expense.

In this post, however, we’re going to discuss some of the ways that property management can actually save you money in the short and long term. If you want to find great tenants, get your money on time, and have the property well-kept, property management is always the way to go, so read on and find out how it’ll also save you money.

Marketing the Property

There’s no denying that renting out your property can be a lot of hard work. It also costs money to prepare the property for renting and advertising it on various platforms in order to find great candidates.

Under your contract, a property management service will handle all of this work for you as part of the agreement. You’ll never have to take out a Facebook or newspaper ad, pay for the property to be cleaned and fixed up before viewings, or take time out of your busy schedule to find renters again.

Screening Tenants

Screening tenants might not sound like a money-saving perk, but if you think about it in the long term, having quiet and respectful tenants can actually save you a lot of money. Usually, when you get good tenants, you’re more likely to keep them in your property for long periods of time, which saves you money having to go through the screening process again.

Another thing quality tenants tend to do is pay their rent on time. If you don’t have good renters, you could constantly be chasing them down for rent and in the worst scenarios, you may end up taking them to court. All of this costs you time and money.

Better Rent Collection

Speaking of rent collection, a good property manager will create a system for getting your rent money on time, every time. Every property owner counts on timely rent payments from their tenants in order to make mortgage payments, pay other employees, and budget for their own lives. This doesn’t always happen efficiently and it’s not always a tenant’s fault.

A property manager will set up a process to deal with rent collection and their own fee collection at the same time. They’ll deal with the tenants, take their cut of the rent, and deposit the rest to you, making it easy and reliable.

Property Maintenance

When you’re busy, you probably won’t have time to make continuous small repairs to your property. Unfortunately, with people living in the homes, you need to stay on top of maintenance to keep tenant retention high. Little issues always become bigger, more costly ones over time, as well.

Property managers will keep your property in great shape, ensuring you don’t have to spend huge amounts of money down the line on big repairs or renovations. 

Get the Best Property Management

If you want the best property management that’ll help you boost profits on your Central Coast property, look no further than Outland Real Estate. Visit our website to learn more about us and what we do, then contact us when you’re ready to discuss hiring us as your property management.

full service property management
November 8, 2021

How to Choose the Right Full Service Property Management for You

James Summerlin / Property Management /

At the start of the year (2021), more than 10 million Americans were behind in their rent payment.

Most of these people were using the pandemic as their excuse for failing to pay rent on time. As a landlord, it’s challenging to deal with such tenants. You don’t know how to evict them or push them to clear the rent arrears.
To overcome these challenges, you should hire a full-service property management agency.

So, how do you find the right agency?

Keep reading to learn how to choose the right full service property management for you.

Examine Reputation

Some property management companies are too harsh and tend to harass tenants. Choosing these companies will lead to high tenants turnover and cashflow problems. To mitigate this problem, check the reputations of various property management agencies near you.

You want to find an agency with professional staff who know the best ways to deal with tenants. Your goal is to ensure that your tenants are happy living in your property and pay their rent on time.

Carefully Read the Property Management Agreement

Before you hire a property manager, you must carefully read the agreement and, if necessary, involve an expert. The agreement will stipulate the property manager’s duties and powers. It’ll also disclose how much you’ll be compensating the property manager.

Finally, the agreement will have a clause that directs you on how to terminate your relationship with the property management. So, carefully read the agreement and ensure you’re satisfied with all its clauses.

Find Out Who the Company Advertise Vacant Units

As the rental property owner, you may have a hard time advertising the vacant units. You don’t know the best platforms to use to advertise these units. Besides, you fear attracting the wrong tenants who’ll keep failing to pay the rent on time.

In addition, you know that you’re losing money every month that passes by, and you have unoccupied units. To overcome these struggles, find a property management company with an incredible marketing plan. This company knows all the top tools to use to attract the right tenants.

Check Licensing

Some individuals assume that the quickest way to venture into the real estate industry is by becoming property management. These individuals set up businesses without seeking any licensing. The problem is that most of them have no idea about the tenants’ rights.

So, by hiring these businesses, you risk doing things against the law when dealing with tenants. For example, evicting a tenant without following the right procedure. To curb these problems, choose a licensed property management agency.

Boost Returns by Seeking the Best Full Service Property Management

Seeking the best full service property management is key to overcoming the headache of dealing with troublesome tenants. You want an agency that will push your tenants to pay their rent on time. Besides, look for an agency that’ll advertise your property, thereby ensuring that all units are occupied.

Call us today for amazing property management services that meet your needs.

real estate management company
October 10, 2021

How to Choose the Best Real Estate Management Company

James Summerlin / Real Estate /

Are you looking to hire a real estate management company to oversee your properties? Hiring the right real estate managers is the key to a successful management strategy.

A real estate management team will take care of everything about your property, from finding tenants to collecting rent. And if repairs come up, they can handle them so you don’t have to. 

So how do you find a good real estate management company when there are so many to choose from? Here are some real estate management company hiring tips to help you narrow down your options.

1. Experienced Management Team

It’s important to choose a real estate management team that has a reputation for excellent work. Usually, you can find this quality in more experienced companies. Or if a company is new, look for experienced employees in key management roles.

Why does experience matter so much? Because an experienced property manager will be more knowledgeable and able to avoid making costly mistakes. And as a result, you won’t have to worry as much that something will go wrong.

2. Good References

Good real estate management companies tend to have great reviews from former and current customers. You should look for good references from both other property owners and tenants. 

Don’t settle for the references the company displays on its website. Check independent sources like social media or local neighborhood reviews. If possible, ask to speak with former and current customers directly.

3. The Right Array of Services

Every real estate management company offers a different menu of services. Hire the one that offers exactly what you’re looking for, not more or less. A good property management company should be able to customize its services and provide options that don’t waste your time or money.

Once you’ve told the pros what you’re looking for, the next step is to make sure you get everything in writing. Look for a contract that gives you the right options and services, and clearly outlines what you can expect if you hire them.

4. Appropriate Training and Qualifications

Another sign of highly qualified property managers is their professional training. Look for memberships in The National Association of Residential Property Managers, or other industry credentials like the Master Property Manager certification.

While formal coursework isn’t everything, it does provide a great foundation for career mastery. And it means that a company prides itself in training and staying on top of current trends in its industry.

Use These Tips to Find the Right Real Estate Management Company 

Finding a real estate management company to handle your properties is a process that might take some time. But it’s important to find the best management company so you can avoid having to search again later. You can start by searching for ” a real estate management company near me”, to get a feel for what’s available in your area.

If you’d like more information about the property management search process, get in touch with us. We can help you manage your real estate by finding the perfect new location to managing your current property.

Our blog is full of helpful articles about property management, real estate, property photography, and much more. Interested in working with us? Contact us today!

finding tenants
September 14, 2021

The Owner’s Guide to Finding Tenants: How to Screen Candidates

James Summerlin / Blogging /

For a rental property owner, finding tenants is one of the trickier parts of the job. You want tenants that are reliable, dependable, and prompt with their rent payments. But it can be difficult to tell what kind of tenant a person will be just by meeting them.

This is why properly screening all of your property’s tenants is so important. There’s a whole process to this, and it’s crucial you don’t skip any steps. Doing this could result in you allowing unsavory characters to come into your hard-earned rental homes.

Below, you’ll find everything you need to know about tenant screening. Read on to learn more.

Outline Your Requirements

As a landlord, you’ll need to come up with your own list of criteria your tenants should fill. For example, a more lenient landlord may not ask for much documentation beyond a social security number. This is a risky way to fill your properties, however.

Generally speaking, you will want to hear from references, previous landlords, and maybe even check their credit or see their bank balance. The more detailed you are in your screening, the more likely it is you’ll find a stellar tenant.

Be Aware of the Law

In certain states, there are laws preventing you from asking your tenants certain questions. There are also laws applicable in some states that prevent you from discriminating against Section 8 tenants. You’ll need to familiarize yourself with the local law so you make sure you are abiding by it.

Learn More About Them

You should learn as much as you can about your prospective tenants. You can do this by checking certain documents—bank statements, pay stubs, social security number—and also by speaking with references they provide.

Professional references can speak to their character and let you know how secure their employment position and thus income stream is. References from former landlords will allow you to see what kind of tenants they were in the past.

Tenant Screening Questions

There are some screening questions it’s suggested landlords ask their tenants. You’ll also probably have some you’ll have come up with on your own. Some examples

  • what date do you want to move in?
  • how long are you looking to stay?
  • why are you moving from your current home?
  • what’s your monthly income?
  • do you have any pets?

Don’t Be Afraid to Ask for Help

Being a landlord often pulls you in many different directions at once. It can be hard to do a thorough job of screening each and every tenant, but that’s what you need to do. If you’re overextended, it can be a good idea to hire a property management company to help you with some of the daily tasks associated with being a rental property owner.

Make Finding Tenants a Breeze

If you’re having trouble finding tenants that are reliable and respectful of your rental property, it may be time to rethink your tenant screening process. At Outland Real Estate, we’d be happy to help. We’ll take care of all of your property management needs—get in touch today.

choosing property managers
August 16, 2021

Top 5 Factors to Consider When Choosing Property Managers

James Summerlin / Property Manager /

Do you know which is the most common service provided by a property manager? That’s an important statistic when researching your property manager options.

In fact, 80% of a property manager’s duties comprise maintenance and rent collection. 

There are many other things to examine before selecting a management company. Here are the top 5 factors to consider when choosing property managers.

1. Property Manager Qualifications

List your basic property management qualifications and any extra skills you need. Specify required credentials, training, and depth of experience with different types of property. Gauge each property manager’s knowledge of industry standards and guidelines.

Determine the consistency in service quality of every property manager candidate. Contact their professional references and pose the same questions to each one. Finish by reading online reviews to get a complete picture.

2. Management Services Provided

Confirm the prospective property managers provide the services you need. There are differences between residential and commercial property management responsibilities. Candidates should specify which types of property they’ve managed and how many.

Besides maintaining the property and collecting rent, property managers can:

  • Screen tenant applicants
  • Determine lease rates
  • Track property expenses
  • Resolve tenant complaints

You need to trust your selected property manager. Have confidence they can handle your requested services with minimal errors. You may find yourself liable for their mistakes.

Be careful when deciding how much responsibility you relinquish to your property manager.

3. Fees For Management Service

Don’t assume every company’s fee structure is the same. And don’t think contracting with the cheapest option saves you money. You could find hidden fees cost you more in the end.

Some property managers charge a flat rate. Others charge a commission or percentage of rent collected. Request an itemized list of property manager costs so there are no surprises.

Property managers work to keep tenant occupancy at full capacity. Doing so requires marketing, the cost of which your property manager may add to their fees. Understand this upfront and establish guidelines to control your marketing cost.

4. Property Management Service Hours

Incidents happen when you least expect and they’re never convenient. Your tenants occupy their units all day, every day so they need 24-hour service. Ensure tenants can communicate with property management via phone, email, or online portal.

Having a community online portal allows tenants to put in work order requests at any time. It could direct them who to contact for emergency situations.

5. Location of Management Company

Somewhere down the road, you may expand your property portfolio. You need a property management company that can grow along with you. Choose one in a central location that’s easy for you to access.

Exercise Due Diligence When Choosing Property Managers

Choosing property managers is as important as finding the right property. Do your due diligence and gather the information needed to make a wise decision. Ensure they’re qualified, offer your desired services, and charge reasonable fees. 

Outland Real Estate is sure to exceed your property management expectations. Contact us to learn about the services we provide.

property management
July 12, 2021

5 Questions to Ask Your Property Management Company

James Summerlin / Property Management /

A property management company helps to maintain a residence and its occupants without the owner’s daily input. If you’ve invested in multiple properties, there’s a good chance you’ll need their help with upkeep and covering costs. 

Every company is different, however, so you can’t go in assuming they’ll handle all of your needs. You also don’t want to end up paying too much for too little. 

Here is some of what to ask your potential property manager before you pay for their services.

1. What Services Do You Offer and What Are Your Prices?

One of the first property management questions you should ask is how much each of their services cost. 

Not every property management company offers the same services at the same prices. Write out a list of everything you need from them before you meet. And make sure to ask about their various fees. 

2. How Will You Fill My Property?

A key job of property management services is keeping your real estate occupied.

Ask the manager what kind of platforms they use to advertise and how they plan to utilize them. Will they require you on-site for viewings, or will the property manager handle it all? 

Also, consider how they screen tenants. Their methods may not create as inclusive an environment as you desire. 

3. How Do You Calculate and Collect Rent?

The property manager will be in charge of coming up with rent, so it’s important that you’re on the same page about your property’s value. They should take into account multiple factors to find the maximum rental income. 

It’s also important for the company to use a modern and efficient method of rent collection. Cash can be misplaced, and checks can bounce. 

4. Do You Handle Repairs and Maintenance? 

Repairs and maintenance can take up a lot of time for real estate owners. Even if you like handling the contractors and repairs yourself, it’ll become way too much to deal with alone as your real estate portfolio grows.

Instead, hire a property manager who offers maintenance services in one of their plans. It may cost a little extra, but you’ll save big on time and money down the line. 

5. What Are the Termination Conditions?

Not every property management company is going to be the right fit for your real estate empire. Especially avoid any that offer a lengthy contract with various cancellation fees. 

Most services offer monthly payment plans with easy cancellation. You also want to avoid giving them too much power over your properties, such as requiring you to list through them. 

Hire the Right Property Management Company

These are just a few of the questions to ask when choosing a property management company. It’s important that you hire one that you can trust to manage your real estate as well as the people living and working in them. 

If you need help with selling your home or searching for a new property, check us out. Outland Real Estate services the Central Coast of California. Contact us to learn more.

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