Tenant Screening: How To Do It Professionally
Being a trusted Tampa Bay property management service we follow a well-established process when it comes to how we qualify potential tenants, and in this post we have shared some vital Tampa tenant screening tips. It is essential to look at every renter the same way & rate them the same way to meet all fair housing requirements.
Screening a renter: where to begin:
We check out many things, beginning with FICO score & the risk score that emphasizes the last 6 months. We like to have a glance at their history of home ownership & rentals. We also want to have a look at their earning & their assets because many people are not employed but have decent assets or are retired. We double check the income and rental history, because they are the most vital.
Screening a renter: keeping score:
The scoring sheet we make use of has different categories. We take into account their earning or savings and compare it to the rent. Then would like to have a look at whether they have any tax claims that might prevent them from paying rent.
We also like to compare a tenant’s monthly earning to debt. A renter with earnings of $4,000 and monthly debts including rent of $2,000 is a good risk to take, but debts of $10,000 a month with earnings of $5,000 is clearly not a smart risk to take.
We also take a look at collection accounts; if they are for failure to pay a mortgage, it will appear in the credit score. If we notice the renter has failed to pay credit card bill that is a negative, particularly if they have more than one.
Screening a renter: additional checklist:
It is also wise to conduct a background check before giving a lease to any renter. A property eviction in the previous 3-4 years will be a big NO. However, an eviction from 15 years back when the renter was in college is a little different. Would also like to see if they are on the no fly watch list & if they are, we reject them. Also, we look at misconducts & felonies. We do not wish to rent to anybody with a past record of sexual offense or violent crime.
To find such more useful Tampa Bay property management solution gets in touch with Simply Property Management-Property Managers of Florida, Inc.
This blog is originally posted here: https://tampaareapropertymanagement.wordpress.com/2018/12/11/tenant-screening-how-to-do-it-professionally/
Investing in Ala Carte Property Management Company
Investing in a property and becoming a landlord won’t let you become an expert of dealing with tenant issues, especially if you have other important things to attend. An Ala Carte property management will lessen your burden by managing everything related to rentals like responding to tenant complaints, handling maintenance and repair problems, collecting rent, screening tenants and marketing available properties. It will save you time and stress, but also improve tenant satisfaction.
But remember that, property management does not come cheap. Therefore you should be completely sure about your Ala Carte property management company to take over operations by managing your property effortlessly and smoothly. Here are a few tips you can use to assess the relevance of property management companies to your property in Ala Carte:
The number of rental properties
Do you have relatively few rental units? If yes, property management is not for you as you can effectually manage all your units with professional help. If you have multiple rental properties, you can take advantage of Ala Carte property management company that would follow on all the tenants and their specific concerns. The more your rental units, the more you stand out to get benefitted from a property management company.
The distance
How far do you live from your rental property in Ala Carte? If you live closer to your property, you could probably handle some, if not all of the property management tasks. If it is located far from your residence, you could take help from an Ala Carte property management company which will handle everything efficaciously.
Attitude towards property management
Real estate and property is a very lucrative business with a good ROI. It does not include building properties and reaping from the subsequent rental payments. You also need to commit yourself managing your properties and the specific elements including finance, tenants, repairs, and more.
Your attitude towards undertaking property management will determine your zeal as well as subsequent rate of success. You should go ahead and hire an Al Carte property management company to do the hard work for you.
Time
Property management needs enough time – mostly a couple of hours a day to full day, depending on the type and number of properties. Therefore, it is ideal for individuals with adequate time to spare on regularly. If you are mostly engaged in other responsibilities and do not have the enough time to attend to your property, you would greatly benefit from a professional team of property management experts.
Final consideration –
Keeping all these things in mind, property management can be considered as a worthwhile investment, especially if you are a landlord who does not mind paying a buck or two for quality property services. So, what are you waiting for?
Contact Simply Property Management for immediate help with Al Carte property management services! Our property managers will get back to you as soon as possible and will help you out from the very beginning to the end, ensuring a smooth and hassle-free property management.
This blog is originally posted here: https://tampamanagementservices.wordpress.com/2018/11/24/investing-in-ala-carte-property-management-company/
Investing in Largo Property Management Company
When it comes to choosing a property management company in Largo, FL, there are a few things you should consider. Do not ever choose the first company you see online or the cheapest property managers in Largo, FL.
Instead, take enough time on researching companies that understand the local market and can provide you the type of expertise to help you earn maximum ROI. Here are some tips on finding the right company for property management in Largo FL:
Always check out the property management experience –
Experience is a key and while having 5, 10, 20 or 30 years of experience in the Largo property management industry is admirable, you need to make sure that the company has the right experience. If you own a single family home, you should find a company that specializes in single family homes.
Ask about experience with the problems related to property management you have encountered earlier. If you can’t find a tenant who pays rent on-time, ask the property management company what they actually do to make sure for timely rent collection. Therefore, experience is important, but it is a lot more than just a number. Find out what kind of experience a company has.
Check customer reviews and online reputation –
Online reviews are highly recommended. Most well-known Largo property management companies can be available on Yelp, Google, and different social media networks. Invest some time to read customer reviews. You may find testimonials on their website.
You need to find out what customers really like and do not about the property management company. More importantly, you should take a note of how company responds to different situations.
Check whether the property managers are professional. Do they admit their mistakes and make them right? This kind of transparency will ideal for their abilities and your relationship.
Discuss about the property management procedure –
Every property management company should provide the latest, industry-best services that make the management of your home efficient, accurate and transparent. You should be capable of accessing maintenance records, lease documents and payment schedules.
You need to know how the property management company will communicate with clients. Will you receive monthly statements or do your tenants have a 24-hour emergency contact details if mishap happens? Do a thorough research and find the company that specializes in going above and beyond the expectations for property management in Largo FL.
Bottom line –
There are a lot of things you need look for in a property management company in Largo, FL. You have to access a successful and effective record of property management processes that protect your investment.
In addition to, you should check whether their property management services are continually improved. Moreover, you need a property manager who is up-to-date on all the state, local and federal rules and regulations.
Take your time in choosing a company and feel free to ask the questions regarding Largo property management.
Relying on a professional property management company –
When it comes to investing in the right company for property management in Largo FL, Simply Property Management is second to none. For immediate help with Largo property management, please visit our website at http://tampamanagementservices.com/ and contact us today!
This blog is originally posted here: https://tampamanagementservices.wordpress.com/2018/11/12/investing-in-largo-property-management-company/
3 Most Typical Tenant Complaints & How To Tackle Them
Working in the industry of property management in Madeira Beach Florida demonstrate time and again that regardless of how careful you are about maintaining your properties, some issues will still pop up.
Handling the complaints of tenants in the proper way can go a long way in reducing their worries, increasing tenant retention rates, and helping establish yourself as a person who cares about his or her clients. Listed below are some of the most common complains that tenants generally have & the best way to deal with them.
Maintenance issues:
With maintenance problems being the most common issue plaguing a majority of the renters, the first step to deal with such complains smoothly and quickly should be the setting up of a competent complaint resolution system.
It is not required to say that a lease must involve precise instructions on how to raise a maintenance request, the anticipated response time for diverse types of upkeep complains, what to do in the event of an emergency and so forth. For instance, many Madeira Beach Property Management companies ask their tenants to raise an online maintenance request to make simpler the process & allow easy tracking.
Regardless of the selected mode of notification, ensure to respond to all requests on time, preferably offering a time period when they can anticipate the problem to be resolved. If the resolution time needs to be adjusted according to the nature of the severity of the issue or you have to look for additional resources, notify the renters accordingly so they are prepared.
Lack of appropriate communication:
Northing annoys a renter more than delayed communication. Nobody likes to deal with a landlord or property manager who is always unavailable, does not respond his or her phone calls, or never responds to any e-mail.
May be you did not answer to his first e-mail because you felt his or her complains were illogical or not your accountability to rectify. But the lack of response sends a message to your tenants that you are not keen to listen to their issues.
Good renters are tough to find and if you do not answer to their problems in a timely manner, you will lose them to another property owners who values & respects them.
Pest invasion:
Nobody wants their homes invaded by pests. And if it is an apartment, the issue can spread quickly & get worse.
Take immediate action & appoint an exterminator instantly if your renter reports pest problems. Do not ignore to schedule a follow-up appointment after a week to make sure the issue is totally sorted out.
Nobody do Madeira Beach FL Property Management better than Simply Property Management. To schedule our professional property management service call us right now!
This blog is originally posted here: https://tampamanagementservices.wordpress.com/2018/10/24/3-most-typical-tenant-complaints-how-to-tackle-them/
3 Most Typical Tenant Complaints & How To Tackle Them
Working in the industry of property management in Madeira Beach Florida demonstrate time and again that regardless of how careful you are about maintaining your properties, some issues will still pop up.
Handling the complaints of tenants in the proper way can go a long way in reducing their worries, increasing tenant retention rates, and helping establish yourself as a person who cares about his or her clients. Listed below are some of the most common complains that tenants generally have & the best way to deal with them.
Maintenance issues:
With maintenance problems being the most common issue plaguing a majority of the renters, the first step to deal with such complains smoothly and quickly should be the setting up of a competent complaint resolution system.
It is not required to say that a lease must involve precise instructions on how to raise a maintenance request, the anticipated response time for diverse types of upkeep complains, what to do in the event of an emergency and so forth. For instance, many Madeira Beach Property Management companies ask their tenants to raise an online maintenance request to make simpler the process & allow easy tracking.
Regardless of the selected mode of notification, ensure to respond to all requests on time, preferably offering a time period when they can anticipate the problem to be resolved. If the resolution time needs to be adjusted according to the nature of the severity of the issue or you have to look for additional resources, notify the renters accordingly so they are prepared.
Lack of appropriate communication:
Northing annoys a renter more than delayed communication. Nobody likes to deal with a landlord or property manager who is always unavailable, does not respond his or her phone calls, or never responds to any e-mail.
May be you did not answer to his first e-mail because you felt his or her complains were illogical or not your accountability to rectify. But the lack of response sends a message to your tenants that you are not keen to listen to their issues.
Good renters are tough to find and if you do not answer to their problems in a timely manner, you will lose them to another property owners who values & respects them.
Pest invasion:
Nobody wants their homes invaded by pests. And if it is an apartment, the issue can spread quickly & get worse.
Take immediate action & appoint an exterminator instantly if your renter reports pest problems. Do not ignore to schedule a follow-up appointment after a week to make sure the issue is totally sorted out.
Nobody do Madeira Beach FL Property Management better than Simply Property Management. To schedule our professional property management service call us right now!
This blog is originally posted here: https://tampaareapropertymanagement.wordpress.com/2018/10/09/3-most-typical-tenant-complaints-how-to-tackle-them/
Self Property Management or Professional Property Management Company?
Part of real-estate investing is making wise decisions, and one of the most important decisions you will make as a property owner is whether to manage by yourself or appoint a professional property management company in Tampa. I run a property management firm, but I know that some individuals are well-fitted to self management. Generally, I inquire people these 4 questions, and their replies reveals whether they are an ideal contender for self property management in Tampa, or if they must appoint a professional management firm for their Tampa real estate.
How close do you reside to your property?
If you reside more than one hour away from your property, then you better appoint a property management firm. Managing & leasing real-estate involves so many details that need your presence. If you are not close, it is going to be tough. I have personally attempted doing it; I reside in Tampa, and I tried managing a property in Harbor Island. Believe me it was tough!
Do you have a full-time job?
If you have a full-time occupation outside of being a property owner, you must appoint a property manager in Tampa. Trying to handle both the responsibilities will consequence in either your job suffering or your rental home experiencing the same.
Can you provide hands-on management?
You have to have a passion to get out & find out good quality renters and take care of the property. You will have to spend time & resource making it safe and appealing. You will have to appoint a maintenance team or fix things on your own. And this is not glamorous work at all.
Are you comfortable being an employer?
As the number of units you own grows, you will have to appoint resident managers, leasing agents, and administrative people. That comes with things such as payroll & employee compensation insurance. As the number of units grows, the need for property management will grow significantly also.
For the right person managing a property is possible. However, for most people, appointing a property management company in Tampa is the better decision as they can increase their profitability and save yourself a great deal of time and stress as well.
If you have any query related to professional property management in Tampa, feel free to contact Simply Property Management right now. We are available 24×7 to answer your queries related to property management.
This blog is originally posted here: https://tampaareapropertymanagement.wordpress.com/2018/09/25/self-property-management-or-professional-property-management-company/
5 Clearwater Property Management Tips to Appeal Tenants
It can be really easy for investors to allow their personal preference influence the kind of property they are looking to invest in, or how they fit out their investment property for tenants.
To make sure your property remains attractive in competitive rental markets and appeals to the widest pool of tenants, it may be well-worth considering a few tips regarding property management in Clearwater:
5 Clearwater Property Management Tips to Appeal Tenants
- Check the suburb
Suburb is the areas that will help a tenant decide whether to rent a property. Checking with the demographics of a specific area is important as it will shape the type of property which will appeal to prospective tenants.
- Storage and space
City lifestyle can make the most of us feel claustrophobic; so it is no wonder that many potential tenants will look for space in their rental properties. This does not mean your rental property has to expand many hectares, but the space or the ability to enhance; it will be appealing to tenant.
As an investor, you should pay attention to the storage requirements of future tenants while checking or fitting out their rental property in Clearwater. If the property is present on the smaller side, there are plentiful ways to enhance the perception of the space to incorporate smart storage solutions.
- A neutral décor
When you dream for brightly colored feature walls, the prospective tenants may not feel the same way. It is wise to keep your rental property in Clearwater as neutral as possible so tenants can make the space feel like their own. This means, painting the walls in improper colors and adopting neutral tones around all your décor including cabinets, cupboards, and appliances.
- Low maintenance outdoor spaces
Most Clearwater tenants love the outdoors and will look for things like balconies, backyards where they can get a fresh bit of hair. Therefore, outdoor spaces should be perfectly maintained and ease to take care of in order to appealing potential tenants. When it comes to outdoor spaces, it is really important to check the demographics the area and consider accordingly.
If you are looking to invest in family-friendly spaces in Clearwater, it may be a priority for potential tenants whereas the inner city professionals may not require as much outdoor space.
- Cooling and heating
The hot climate means that tenants more often look for rental properties that are equipped with sufficient air conditioning to enjoy the sticky summer nights and sufficient heating to stay warm during cooler months. You should consider investing in good quality heating and cooling systems to make sure to control temperature in your property and allow tenants to stay comfortable year-round.
Conclusion –
These are all about how to appeal tenants in a great number when you consider property management in Clearwater. If you need immediate help with Clearwater property management, you should rely on Simply Property Management. We are the reliable property management company in Clearwater with enough expertise and experience to serve your requirements. For more information, please get in touch with us as soon as possible!
This blog is originally posted here: https://tampaareapropertymanagement.wordpress.com/2018/09/12/5-clearwater-property-management-tips-to-appeal-tenants/
