If you are a property owner who is looking for the best property management company to serve your investment needs, you have come to the right place. However, we know that you will have questions that you need answered.
So we took the time to put together this page to address some of your potential concerns. This page is designed to help you decide if our property management company is right for you. After all, you need a property manager who takes good care of your investment interests as if it were their own. We believe that there should be an ideal match between you and your property management company.
If there is a question that you have in mind that is not addressed here, please feel free to give us a call.
1 – Cost: Management companies generally charge a monthly fee to watch and maintain your property. In most cases, but those fees can range from as low as 5% or so, to upwards of 20%. Obviously, you should look for a company that charges less and provides more services. Here at Mississippi Real Estate Solutions, you will find it.
2 – Communication: Communication with a manager is of the utmost importance. You need someone who uses email, and is responsive to both the telephone and email. If I don’t get a response back in a timely manner, it is time to find help elsewhere. In addition, you need someone who can deal with you and your idiosyncrasies. Some of us are much needier than others. You want to let companies know up front where you stand, and make sure they are willing to be flexible with you. We take pride at Mississippi Real Estate Solutions in helping our property owners with appropriate information in a timely manner.
3 – Termination of your Agreement: In the event that your “relationship” does not work out, you want to know up front what exactly it will take to terminate your agreement. Is there a charge or penalty for breaking your contract?
4 – Repairs and Maintenance: You will want to know if the company has their own maintenance crew, or if they contract out to a handyman. You also want to known:
- How much do they bill out at?
- Can they handle all kinds of repairs?
- What happens if they can’t do something?
- Do they have other contractors that they work with?
- Do they have workman compensation insurance?
The answer at Mississippi Real Estate Solutions is an emphatic YES! We have our own maintenance staff and skilled vendors that we work with on a daily basis.
In addition, we have built long standing relationships that typically allow us to price our work under market prices.
In addition, you probably want to have a maximum that the company can spend without contacting you. Generally, we will allow our managers to do what they need to as long as it is for something under $300. Additionally, we confirm any expenses over that. You can’t micro-manage a property manager and expect them to perform at peak capacity. At Mississippi Real Estate Solutions, we do alert you of any expense over the above amount.
5 – Monthly Statements: When you are choosing a property management company, you also need to know if the company sends out monthly or quarterly statements. Try not to deal with anyone that does not provide monthly income/expense statements. At Mississippi Real Estate Solutions, we provide a detailed monthly report from the best software in the industry.
6 – Evictions: You should be aware of the method of which the property management company handles evictions and what their costs are to evict a tenant.
Our clients do appreciate that we operate in a medium-sized, yet friendly and personalized office environment. We are an intimate group of employees that work well together. You will be assigned a property manager to work directly with you.
7 – Yard Work: How much do they bill yard work out at? Landscaping? Mow lawns? How much does each cost? At Mississippi Real Estate Solutions, we do handle all of the above and work with our vendor assuring the work is done to your standard. Prices depend on the work performed.
8 – Reserves: What kind of reserve does the company require? At Mississippi Real Estate Solutions, the reserves are used in case anything comes up. Most managers will require a certain amount.
9 – Accounting: When will the manager mail your check to you? Beginning of the month? State laws usually dictate accounting rules for managers, but you want to know all of this up front. We know what the rules are in each state.
10-Tenant Deposits: How do they handle deposits? Are they co-mingled, or simply put together with all other income for your account? At Mississippi Real Estate Solutions, it’s really up to the owner we will mail the check or direct deposit it into your account.
11 – Vacancies: Do property management companies charge for filling vacancies? We have found that at Mississippi Real Estate Solutions, we must charge for filling vacancies. Typically this fee will come from the first month’s rental amount paid by the tenant.
12 – Advertising: Where do they advertise properties? Are ‘for rent,’ signs put on the property’s lawn? Do they advertise in the paper? Do they advertise on the Internet? There are quite a few effective places to advertise properties for free and the Internet is one of them. Do they use these? In addition, you want your property advertised effectively. Do they have the basic HTML skills to add images for rent ads online? This makes a huge difference. At Mississippi Real Estate Solutions, you may look no further than our website to begin seeing the quality of our marketing and advertising services. We meet and exceed your expectations when it comes to our ability to lease your property from our aggressive efforts.
13 – Section 8: Do they have experience dealing with section 8 properties / tenants? Do they know what is entailed with such properties? At Mississippi Real Estate Solutions, we are very familiar and skilled with the process of setting properties up with section 8.
14 – Experience: You should do business with a property management company that has a combined high level of experience and expertise in the real estate market as well as with managing properties. If you haven’t already done so, click on our ABOUT USpage to get a full introduction on our company and to learn more about us.
Why you should hire us?
You should hire Mississippi Real Estate Solutions ONLY if you think we are the best fit for you and your property management needs. Honestly, we might not be the best match for all property owners and it would be egotistical and wrong for us to declare this.
For this reason, we have created this FAQ page so that you can learn more about us and get an idea of the guiding principles that every property manager should employ in the managing of your property. This information should give you a clue and help you to determine if we are the right fit for you. The ball is now in our court!!
Call us today so that we can take care of all of your property management needs. A competent representative is standing by to take your call.