When working with a property manager, one of the best things you can do is ask questions. Asking questions will help you stay informed about the property management process and how your property management company operates. To ensure your rental property generates substantial profits and achieves success, working with a property management company that will care for your property as if it is their own is essential. Although some owners prefer to be more involved in managing the property than others, we strongly suggest everyone be familiar with their property management company’s policies and procedures.
As a professional property management company, we have extensive experience answering owner questions and inquiries. Over the years, we have become familiar with recurring questions. In this post, we will share some questions we receive frequently and the explanations and knowledge we share with our clients.
How Long Will It Take to Find a Tenant for My Rental Property?
When working with a property manager, we recommend choosing a company that prioritizes carefully selecting tenants. At The Listing, we take the time to screen every tenant properly. It’s not about finding a fast tenant; it’s about finding the right tenant for your rental property. We always try our hardest to lease your rental property quickly – but if it means placing a lousy tenant to fill it, we’d rather wait for a quality renter. We strive to protect our rental property owners and work extensively to give you the best chance for success, and we work extensively to surpass your expectations.
Some property management companies will guarantee finding a tenant in a certain number of days or “your money back.” Although this sounds enticing, we suggest avoiding a property management company that makes this promise. In this case, the company may not prioritize finding a high-quality tenant, instead allowing the “fast tenant” that may not be the right fit. These companies might be able to find a tenant quickly, but in the long run, this could be harmful to your property.
How Does The Listing Screen Tenants?
As your Tampa property management company, we take the time to screen every tenant properly. Our application process typically takes anywhere from 3-5 days from application to approval. We screen all Tampa and Central Florida applicants thoroughly, checking the following:
- Credit Reports
- Employment Verification
- Income Verification
- Previous Rental History
- Background Check
- Nation-wide Eviction Search
Our application process takes longer than many other property management companies, and this is for finding the right tenants for your Tampa rental property. In property management, patience can be the key to success.
Should I Buy a Home Warranty for My Rental Property?
We do not recommend or encourage purchasing a home warranty for your rental property.
Home warranty providers can be slow; their service technicians do not treat work orders from warranty companies as a high priority on their schedules. The lack of priority will result in poor coordination and repair delays, leading to dissatisfied tenants. Even for the big-ticket items “covered” in the warranty contract, you still pay the same price if a unit goes down. It is not worth the added expense of purchasing a home warranty.
Does The Listing Real Estate Management Work With Home Warranty Companies?
We do work with home warranty companies. However, if they are not prompt and unable to provide service in a timely manner, we reserve the right to use another service provider. If the warranty company does not offer immediate service for your tenant, we will choose to do what’s best for your property and use another provider.
How Much Can I Rent My Rental Property For?
The rental rate of your property will be determined by your property management company, depending on multiple factors. As real estate brokers and property managers at The Listing Real Estate Management, we provide a free rental analysis for all our prospective and management clients.
To complete the rental analysis for your property, we take historical data from multiple channels to provide the most accurate rental rate. Our rental analysis is conducted with professional insight from our local property managers to deliver a specific and appropriate rental price for your property. Many rental property owners get their Rental Analysis from a “Zestimate,” but this algorithm is inaccurate. Contact us for your accurate rental price analysis.
Do You Charge Any Startup Fees When Signing Up?
At The Listing Real Estate Management, we do not charge any property management startup fees. However, this may not be the case for all management companies. Your success is important to us. Therefore, we only get paid when you get paid. Additionally, we do not charge management fees:
- Your property is vacant
- On uncollected rent
- To oversee maintenance repairs
To view all of our property management fees, visit our pricing page.
How Likely Is an Eviction To Happen, and How is the Eviction Process Handled?
Choosing a superior property management company with industry-leading management systems and tenant screening processes has significantly reduced the risk of evictions. However, we can never be 100% certain an eviction won’t occur because, as we know, life happens. People unexpectedly lose their job, a death or illness in the family occurs, and people’s financial situation can change dramatically. If an eviction occurs, we will help facilitate the process. The eviction process in Florida usually takes three to four weeks, not months, as many would believe.
How Do You Handle Maintenance?
How maintenance is handled for your rental property will vary depending on the property management company you work with. The Listing Real Estate Management has a vast network of highly skilled service technicians we use for maintenance, providing quality service at very competitive and affordable prices. The majority of our repair contractors and repair vendors are not employees. All third-party contractors and vendors are vetted, licensed, and insured. You can do your own property maintenance if the home is vacant. However, once a home is tenant-occupied, owners cannot perform their own maintenance repairs on the property.
To schedule periodic maintenance requests for your rental property through The Listing Real Estate Management, you can submit a maintenance ticket via your Owner Portal. All routine maintenance requests will be in effect unless otherwise stated. All periodic or routine maintenance requests will be billed to the owner at the actual service cost.
It is important to know your property manager’s maintenance policy. Keeping up with your property’s maintenance is essential in ensuring the longevity and success of your property.
Are you a Local or National Property Management Company
The Listing Real Estate Management, your boutique property manager, is a local property management company. This means that we live and work in the areas we provide service for; therefore, we have extensive knowledge about the area. National property management companies not located in your property area will not be as familiar with the area as a local company. Being local, we know what is best for your property.
We provide full-service property management throughout the Greater Orlando Metro and Tampa Bay Area. We serve Central Florida rental owners throughout Orange County, Osceola County, Seminole County, Lake County, Volusia County, Hillsborough County, Pinellas County, and Pasco County, Florida. Choosing a local property management company will be more beneficial than working with a large national company.
Tampa Property Manager Summary
As your local property managers in Tampa, we strive to make your life easier and provide a positive and profitable rental investment experience.
Navigating the Tampa Bay rental market can take time and effort. However, with years of Tampa property management experience, we can advise and guide you on optimizing your investment best. Our 15+ years of property management experience will drive your rental property to success.
Whether you own one Tampa rental property or are a seasoned investor, it is more than okay, and even encouraged to ask questions. Contact us at The Listing Real Estate Management, your boutique property management company, with any questions you may have.
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