How long has Real Estate Solutions been in business?
Real Estate Solutions has specialized in the management and sales of single family, multifamily and commercial properties since 2001.
Is your team experienced at managing rental property?
Our staff has well over 25 years of knowledge and experience to manage your rental property effectively.
What type of rental properties do you manage?
We specialize in single family homes, condos, multi-unit rentals (2/4/6 flats), and multi-family apartment buildings.
In which areas of Mississippi do you manage properties?
We manage rental properties throughout the Mississippi area. The majority of our properties are located in Jackson, Madison, Ridgeland, Brandon, Flowood, Clinton, Richland, Byram, Reservior, and Canton,Mississippi. We do manage properties outside of this are. If you are unsure if your property qualifies please call us at (601) 713-0007.
How many clients do you serve?
We currently manage more properties which are owned by more than 150 individuals and ownership groups, many of whom own multiple rental properties.
I live far from my rental property. Is that a problem?
Absolutely not! Many of our owners live out of state or out of the country in place like Australia, China, Japan, and the UK. A local property manager can keep an eye on your rental property to make sure that the tenants are taking good care of your property. We will be the eyes on your property and we can communicate via phone and/or email. We have many owners that we have never met face-to-face due to their location, but who have nonetheless stayed with Real Estate Solutions because they know and trust our service.
How much will my property rent for?
This is the most common question we encounter and the simple answer is that your home will rent for whatever someone is willing to pay to rent it. This really means that current market conditions will determine the rental price for the home. We are leasing experts and will give you a very accurate rental range to utilize as a guideline based upon true market conditions.
The most important thing to know is that the rental market is indifferent to your mortgage payment amount. The rental market does not care that you might have a high interest mortgage, high taxes, negative cash flow, or an exorbitant association fee. When you hire us as your property manager we will evaluate your specific renatl area, survey the competing homes, and make sure that your home is priced favorably against the competition. Without question the biggest expense you will ever encounter as a rental property owner is vacancy. We will do our best to help your property earn a steady cash flow. It should be noted that, in some instances, property owners are best served by minimizing their losses and offsetting the high cost of carrying a vacant property.
How long will it take to rent my property?
We are currently experiencing a 97% occupancy rate and, while we can’t guarantee a specific move-in date, our average residential property rents approximately 22 days from the day we begin our marketing efforts. We have had units rent within a week and others that have taken 90 days or more to lease,but, if a property is properly priced and marketed it will rent very quickly.
How do you market properties for rent?
Our marketing efforts begin with an initial property evaluation and rental price recommendation. if possible, professional real estate signage is posted at the property. Digital photos are taken and posted to our corporate website listing page. MLS listings will be built if appropriate. A complete online marketing program is created and listings are posted on high traffic marketing websites. We advertise very heavily online and 50-60% of our tenants are placed as a direct result of these advertising efforts. Real Estate Solutions covers the cost of these services. Please review the marketing portion of our website for additional information.
Who handles the calls and showings?
Real Estate Solutions takes all calls and schedules showings.
What happens when someone is interested in the property?
All interested tenants must proceed through our full application process and every adult who will live in the property must submit a full rental application. We work and pay for a third party vendor to run a full credit & background check, verify employment & income, check eviction history, and call previous landlords. We will have a very good idea about who is applying for your unit and we will give you our professional opinion regarding that prospective tenant and the final decision to approve that tenant is yours alone. In many cases owners will defer to our decision as we have placed thousands of tenants and we have a very high success rate with tenant approvals.
How do you ensure the tenant is taking good care of my home while renting?
Careful tenant selection is the most important factor, however, if we have any concerns about the condition of the property during the lease term, we will conduct periodic property reviews to ensure that the units are being properly maintained.
What do you do if the tenant is not caring for my property as they should?
Your property manager gives the tenant an opportunity to correct the situation immediately and they usually will. If not, we will notify them that they are in breach of their lease and proceed accordingly.
How do tenants pay?
Many of our tenants pay online or come to our office located at 3502 North State Street Jackson MS 39216 or pay us directly via mail. First month rent and security deposits must be made via certified funds.
What is the required Tenant Securtiy Deposit?
As a general rule of thumb we charge 1/2 month’s rent, although credit and other factors may dictate that a higher deposit is necessary.
What happens if the tenant does not pay their rent on time?
We utilize all of the resources necessary to collect rent. Phone calls, property visits, late fees, 3-day notices, and attorneys are all readily available tools. We will collect rent very aggressively in all cases.
How do you handle maintenance requests?
Many tenants use our web site to create a work order or simply call our office to submit requests. Our maintenance coordinator or on-call property manager will speak directly to the tenant and ask them specific maintenance-related questions which will help us determine the exact nature of the problem before sending a service technician. We also do our best to make sure it is not something the tenant can fix themselves (ex: reset button on the disposal, tripped breaker) before your money is spent on a service call. If we determine that it is a legitimate problem we will send the appropriate service vendor to make the repair. We prioritize and schedule repairs in a manner that minimizes cost by clustering repair calls with other properties or making multiple repairs within the same call. Emergencies are identified as such and are treated accordingly.
Who pays if the tenant causes the damage?
When possible, our vendors are instructed to identify the cause of any damage or problems and we are then notified as to whether the issue is caused by normal wear and tear or tenant neglect. If a tenant is found to be responsible for damages they will be billed for the repairs.
Do you use the lowest priced maintenance people you can find?
Not necessarily. We only utilize skilled and competent vendors. Poorly done repairs are always more expensive in the long term as they will require repeat service. Our vendors are very good at their trades and provide their services to us at a reasonabl rate in recognition of the volume of business that we provide them. For large repairs we will collect multiple quotes and interview multiple vendors.
How do I know you won’t spend my money on large repairs without my approval?
This is a legitimate concern. We set a spending limit and request your approval for any repair which exceeds that amount. We only exceed that amount in the case of an emergency repair that needs immediate attention.
What if I want you to use my own vendors?
We have a stable of very qualified and reasonably priced vendors that we have used for many years, but we will do our best to accommodate your vendor is you prefer. If you would like to nominate a service company to be added to your vendor list we will contact them and let them know what documentation is required, verify their workman comp insurance, make them aware our payment policy, etc. We cannot guarantee that your favorite company will be sent on all service calls as our main focus is to resolve repair problems in the most efficient way possible, using the best available vendors, and achieving the best service for your tenant and your investment property.
I want you to use my home warranty for all covered repairs, is that ok?
Again, we will do our best to accommodate this request if the warranty company is responsive. If the home warranty company does not respond in a reasonable time we may be forced to send a vendor out to make necessary repairs.
How do I get my owner funds?
We prefer to direct deposit owner funds but will mail a check if requested. Owner funds are deposited by the 5th business day of the month for the month prior.
What will my monthly statement include?
The monthly statements show all income and expenses for the accounting period that you request. There are dozens of report options that you can request and you can customize the options and date ranges as needed.
What is the cost of your monthly property management and leasing fees?
Our management and leasing fees vary depending upon the type of property, build date, current condition, and location. We offer percentage based management fees, which are most common for single family units, and flat fee options which are more common for multi-unit properties.
Does your property management agreement give you exclusive right to sell my property?
No. We believe when you make the decision to sell you should be free to choose he best listing agent for your property. We are leasing and management experts and property sales are not our primary business.
Is a Rent-to-own or Lease Option a good way to rent/sell my home?
Because it is becoming more difficult for an average buyer to complete a home purchase, these programs have become increasingly attractive and common. The problem is that these programs rarely lead to a sale. There are many factors that need to be considered to determine the terms and type of program to offer a tenant/buyer. We have experience structuring lease options and we will market your property appropriately and negotiate a deal that is in the best interest of all parties involved. If the goal is to ultimately sell the property this may be a viable option based upon current market conditions.
Can I choose leasing OR management services rather than both?
Each of our services is exclusive of the others, but 90% of our owners do utilize us for both services.
How soon can you start leasing or managing my home?
We can start the process immediately and it generally takes 2-3 business days to set up your property once you have chosen to work with Real Estate Solutions as your management company.
Why should I hire you as my property management company?
You should hire us only if you think we are the best match for your property management needs. We do not expect to be a perfect fit for every property owner, but we do strive to provide the highest level of professional service at competitive rates. We will not simply tell you what you want to hear, but we will provide honest assessments of property appearance, condition, and market rental value. Anything less would be a disservice to you and a waste of time and money for all involved. Our extensive experience, coupled with a commitment to provide immediate and long term value to our clients, is what drives our business. We accomplish this through thorough planning, aggressive marketing, open communication, and a commitment to always manage your property as if it were our own.