St Louis Rental Property Management

1. Rental Property Management Companies Rental property management companies are meant to add value to your property and investment. If left on their own, they will prepare a contract or deal that favors them at the expense of you the landlord. Before signing a contract, it helps to have an idea what to expect. This allows you to negotiate the best terms that will safeguard your investments. Here are the issues we recommend that you pay close attention to during negotiations. Consistency Tenancy Property managers have a responsibility of maintaining the highest rate and consistency in tenancy. This happens by making the property as attractive as possible. Proper maintenance and addressing issues as soon as they arise ensures that tenants remain in your house for the longest time possible. Demand that the managers maintain a particular rate of occupancy with a commitment clause in the contract. This will guarantee income consistency. There should be penalties in case this target is not met including an end to the contract. It is upon the managers to vet potential tenants to ensure that they are of a caliber that can deliver consistency and high quality tenancy. Declaration of Occupancy The property manager should be open enough to declare occupancy each month. Such details enable you to calculate your percentage returns instead of depending on information from the office. The managers should also provide open access to bank accounts where the rent is deposited. You will never doubt the amount entitled have auditing issues. It is also a way of tracking down the rate of occupancy to ensure that it corresponds to what the company has declared.

2. Maintenance Plan and Details Real estate managers have a responsibility of maintaining the property to make is as attractive as possible. Tenants will depart from a property that is poorly maintained leading to low occupancy and inconsistent income. The best managers draft a maintenance plan that seeks to increase the competitiveness of the address. The plan should include both scheduled and emergency maintenance details. The contract should capture what is required to keep your house in the best condition possible. Costs and frequency of maintenance should be reasonable. Advertising Plans Tenants respond to adverts when making a decision to occupy a property. It is the responsibility of managers to advertise in the right platforms. Adverts shine spotlight on a property with the aim of attracting the right tenants. Failure to advertise means that regardless of the nature of your property, it will never attract the right tenants. This will delay the rate at which you get returns on your investments. References Property managers use advertising gimmicks to attract landlords to their fold. All the details provided are not necessarily true. To avoid falling into their trap, it is advisable that you get a list or contacts of landlords whose properties are managed by your target company. Such landlords will give you their first hand experience. Having been rated among the best rental property management companies, we provide expertise and excellent return on investment. We grant you the power to negotiate your contract.