4 Signs You Need a New Property Management Company Immediately
Southwestern Management And Realty Team (SMART) is a highly rated Las Vegas property management company. But even with years of experience in the industry, we are still amazed by the number of rental property owners who either settle for subpar property management service or who prefer to take on the obligation of managing a rental themselves.
If this is you — make 2019 the year you get on-board with a professional property management group!
Here are some red-flag signs that it’s time to ditch what you’re doing and hire SMART this year.
1. Your calls are never answered
When you call your property manager, do you hear silence on the other end? Have you ever been put on eternal hold? Have you ever waited more than 24-48 hours for a return call from your manager? We hear stories like these all the time. Seriously, folks…this should never happen! We return your calls within one business day. Guaranteed. If this is not what you experience with your present management company, you need to switch to SMART immediately.
2. Your reports are confusing and late.
Do you receive regular, clear, and concise reports on your rental property from your property management company? If not, it’s pretty difficult to keep track of your real estate investment. At SMART, each month your monthly rent will be collected, processed, and deposited directly into your bank account (or mailed if you prefer). Additionally, your statements—which contain details on all account transactions—will be sent to you each month. Moreover, you’ll have 24/7 access to your online owner’s portal, where you can view your monthly statements and transaction details, retrieve invoice copies, and/or run other financial reports. If this is not what you experience with your present management company, you need to switch ASAP.
3. Empty promises
Have you been promised more than what has been delivered? Does your property management company give you a clear picture of current market trends? At SMART, we strive to know the Las Vegas rental market. Nobody outdoes us on research. We can tell you forecasts concerning property values, vacancy rates, tax rates, and other critical financial information that can help you make the best decisions concerning your rental property. You are always on the front edge of the envelope with us. If this is not what you experience with your present management company, you need to switch ASAP.
4. Your not making a profit
How much should you charge for a rental property? It is entirely possible to leave money on the table or price yourself out of the market. At SMART, we manage properties all over the Las Vegas valley. We’re familiar with what the market will bear for each neighborhood, so we can help you get the most return to maximize your profit. If this is not what you experience with your present management company, you need to switch ASAP.
And these are only four signs that you need a reputable property management company on your side in the new year. There are many other reasons to make the switch! If you’ve had thoughts about making a change or if you have questions about our company, feel free to contact us. We’re ready to talk!