For example, the pipeline leaks, the air conditioner does not cool/heat and other unexpected problems. If someone can't come forward to deal with this matter in time, it will lead to tenants' dissatisfaction and even loss of fixed returns. Choosing a high-quality property management company can avoid such emergencies and unnecessary losses and play a supervisory role. So how to choose? Please see the introduction below.
First, the necessity of choosing a property management company
People are thousands of miles away, how to ensure that the real estate they invest in is taken care of?
What should I do if there are problems with the property you invest in, such as water pipes leaking, tenants suddenly withdrawing their rents, or thieves?
How to carry out the necessary maintenance work in time and pay the taxes and insurance stipulated by law in time?
These are all practical problems that will be encountered after buying a house in the United States. For investors who intend to rent out for profit, the best choice is to entrust a property management company with full authority to manage it. Next, the second question comes:
Second, how to be a good property management company
Finding and entrusting a property management company to manage your own property can't cancel all your worries: will the property management company kill you on the maintenance fee? Or, is there really such a problem to be solved? Can property companies find tenants quickly? Only when you have a problem will you understand whether the company you choose is good or bad.
To this end, we have screened out several essential elements of a quality property management company:
Take good care of the house and make sure everything goes smoothly.
Deal with all problems in time and effectively.
Ensure that tenants sign leases with investors in a timely manner.
Ensure that the homeowner's housing review process is followed up quickly.
Answer any questions of the owner about online reconciliation.
Tenants leave and quickly find and screen new tenants.
Third, find high-quality property management companies through six key issues.
This paper introduces the relevant basic knowledge, and then will enter the actual combat stage. It will tell you that you can find an excellent and suitable property management company by asking six key questions about the property management company:
1. How do they screen tenants?
The importance of this problem is that only by finding a tenant who can pay the rent on time and taking good care of the rented house can your renting be truly successful! If the property management company can't do it, it means that investors are likely to suffer financial losses.
Some management companies may only complete simple inspections online, such as: no criminal record, good credit rating, and no record of being ordered to withdraw rent. These conditions are really useful, but not enough! Quality property management companies, in addition to the screening of the above conditions, they will also practice:
Go to the tenant's house to see if the potential tenant cares about the house.
Will ask the tenant's current landlord to find out the record of the stunner's arrears of rent or damage to the house.
Will buy "rent protection insurance" for investment houses. If the tenant stops paying and leaves. The owner will get six months' rent.
2. How far is the management company from your home?
If the property management company is far away from the owner's property (more than 30 miles), it may not be able to inspect the house regularly or in time. Therefore, it is best to choose a closer one, even if the tenant has any urgent problems, it can be solved immediately.
3. How to manage real estate?
Some management companies have no organization and supervision. For the problems of tenants or the house itself, only pieces of paper or memories are used to record them. Better yet, use the EXCEL system. Investors should choose a company with online real estate management procedures, so that investors can check the housing situation online 24 hours a day by phone or computer in a foreign country; Understand the latest rental situation; Whether insurance and taxes have been paid; And check the house evaluation report and photos.
4. Have you ever served overseas investors?
For overseas investors, they need a good investment mentor and helper to guide and solve the problems they encounter. A good property management company can play both roles.
They will ensure that investors have all the documents required for accountants to file tax returns.
Help investors negotiate property tax with the local government to ensure that no additional costs are incurred.
Save wealth for investors
5. How to charge?
General management companies will charge investors 10% of rental income. If it is a long-term investment, it will charge a one-month rental commission to find a new tenant. On the contrary, unqualified management companies will speak.
6. How to get rental income?
No matter where your designated account is, your property management company will remit the monthly rent to your account. Of course, you'd better open a dollar account in your country (preferably a bank account in the United States) to avoid exchange rate losses.
If the transfer fees is too high, investors can take it every three months, or take cash by check. However, investors should be aware that cheques issued by overseas banks usually take longer to cash.