People always ask me…”How do you like doing Property Management?” My reply is always…”I LOVE IT!” The shock on their face is PRICELESS! (just like in the MASTERCARD commercial! The face of shock is usually followed by the next typical question of “REALLY?” So I answer…”YES…Really!” Here’s the reason why… I know the reason why everyone is shocked by the answer to my question. It’s usually because the misconception is that being a “LANDLORD” is problematic, a headache, and something that most people DON’T want to do. They don’t want to deal with tenants, they don’t want to deal with late night calls from tenants complaining about some maintenance issue, they don’t want to attempt to collect rents, have to deal with evictions, and deal with the mess of a problematic tenant! Guess what? WE DO~! But the great thing is…WE really don’t! The secret to success in Property Management is SYSTEMS~! Like most anything in business, you MUST develop systems, define them to understand, implement them, and refine as you go along. I call this my DEFINE & REFINE Method. If you actually think about the term PROPERY MANAGEMENT and break the two words apart: PROPERTY (dealing with “real estate” as per definition) and MANAGEMENT. You will see that (-noun; handling, direction, or control). If you take the direct meaning of both words, one will see that if you handle/direct/control the real estate in which you are responsible for, coupled with the systems that you establish, you will find that property management is not the “horror” that so many people make of it. With this in mind, I direct property owners to take a look at the terminology that companies use in when making reference to the services they provide. For instance, I have seen companies call themselves, Rental Agencies, Long Term Rentals, etc. Remembering that the words determine WHAT they do, property owners should be able to easily identify the company in which they want to utilize. If you as a property owner are looking for a complete services package and protection of your property, then a PROPERTY MANAGEMENT company is what you should seek. For further information on how WE protect our clients and their properties when handling Myrtle Beach Property Management feel free to visit www.MyrtleBeachPropertyManagementsite.com Thanks for reading and check back often for more topica on Myrtle Beach Property Management, Long Term Rentals in Myrtle Beach, Myrtle Beach Real Estate
Posts Tagged ‘Myrtle Beach Property Management’
MANAGEMENT + SYSTEMS = SUCCESS!
Wednesday, February 25th, 2009
Rent By Owner?
Monday, February 23rd, 2009In the time that I have grown our Myrtle Beach Property Management program, I have come across quite a number of property owners who decided to attempt to manage their property themselves, find tenants to occupy the residence, and attempt to manage the tenants during the term of the tenancy. Though there’s always the select few in anything you do that defy the odds, but most of our business has grown from Myrtle Beach property owners who have had less than desireable results from managing their properties and tenants on their own!
Here’s the reason why…Most of the time, the property owner does not have the experience with screening tenants to ask them the important questions that will initially assist them in weeding out the “non-desireable” tenants to the quality ones. Additionally, they typically don’t conduct, or have access to, the extensive screening process required to properly determine whether a tenant is desireable to have occupy their residence. Most of the time, the homeowner is so excited that they have found someone to rent their property that they just take the first person who says “They want it” and puts down the security deposit and rent amount requested!
What most fail to realize is that the typical “Less than desireable” tenants prey on the properties that are “RENT BY OWNER.” For the exact reason that is previously mentioned is because they don’t have access to nor typically conduct the necessary screening process to weed them out. They know that as long as they say “They Love your house” and have the requested Security Deposit and first months rent, that that property owner will be excited to rent to them.
So what’s the answer? HIRE A PROFESSIONAL MYRTLE BEACH PROPERTY MANAGER!
O.K., I know the question you are going to ask or comment you are going to say…“I’m already in the negative (or barely cashflowing) on this property, how am I going to pay a property manager?”
So here’s my answer…Don’t look at what position you are in “cashflow” wise when determining whether or not you are going to hire a professional Myrtle Beach Property Manager. Look at the overall numbers for what the cost is going to be to properly protect one of your most expensive investments… Here’s what I mean:
Ask your Myrtle Beach Property Management team what their fee/charge is going to be? Usually it’s a % of the gross monthly rent. Calculate all the charges and see what the cost is going to be for the year. For a property that is bearing a gross monthly rent of $1,000/month, the total yearly cost for professional Myrtle Beach Property Management will be less than $2,000 for the year.
From my experience of dealing with Myrtle Beach property owners who had attempted to manage their properties themselves and have had a “bad experience,” the cost of the repairs typically well exceeds $2,000.
Look at it like this…It will probably cost you more than $2,000 just to re-paint that entire home. It will cost you more than $2,000 to replace all the carpet in that home. Think about if you have to replace the carpet and re-paint, which when dealing with a “horror” tenant, this is what you can expect…PLUS potential loss rent, court costs, and loss of time from property being off the market…
So I ask you, “Is it worth the LESS THAN $2,000 for the year for a professional Myrtle Beach Property Management team to protect your INVESTMENT!
Here is the one thing you need to remember when hiring your Myrtle Beach Property Management team…Ask them what their screening process is, what their rent collection process is, what their eviction process is, what process do they utilize when the need to put a tenant in collection is, and MOST OF ALL…Do they have a legitimate Office Location to conduct business from?
Feel free to give us a call and we will be more than happy to discuss how WE can protect your investment to the best opportunity available! Remember, your property is an investment…PROTECT IT!
Long Term Rentals Myrtle Beach
Sunday, February 22nd, 2009Our Long Term rentals in Myrtle Beach are some of the finest and quality homes for rent in Myrtle Beach! Our standard of cleanliness and presentability has been the recipe for success when it comes to our Long Term Rentals in Myrtle Beach.
In Real Estate sales, the “Rule of Thumb” is “Curb Appeal!” As the owner or the agent of the property For Sale, you want to WOW the potential buyer so that they are not only impressed with their First Impression of the home, but also propels them to inquire further. Much is the same for our Long Term rentals in Myrtle Beach. Our standard is to have a home presentable to the point that it not only IMPRESSES the potential tenant, but also makes them HAVE TO HAVE IT! We look to give little reason for a potential tenant to “not want” the home unless it does not suit their needs beyond measures we cannot control (i.e. size, layout, affordability, etc.)
Not only does providing a CLEAN and presentable home offer itself the ability to rent more quickly, it also leaves the tenant a “STANDARD” by which you can hold them to. As long as you identify that the standard by which the tenant has procurred the home MUST be maintained during the term of the tenancy AND upon vacating the home after the full and faithful execution of the lease, you will find that your tenants will start to become more quality tenants in THEIR living standards. One point to remember with this though is, you CANNOT just ASSUME that because you provided them a clean and presentable home, that they, the tenant, will just automatically keep the home clean and presentable. You still need to check up on your tenant bhy doing periodic drive-by checks on the property/home and some sort of regular inspections of the interior of the home.
For more information on how WE maintain quality tenants and how WE will keep your Long Term rentals in Myrtle Beach in a quality condition so that your investment remains an investment and not a DEBT, call or email to speak with one of our Myrtle Beach Property Management Team members!
Myrtle Beach Property Management
Tuesday, February 17th, 2009When searching for your Myrtle Beach property management company, there are a few things you will want to keep in mind when interviewing the company.
1. Speak with the person that owns the company. If you can’t talk to him/her directly, ask why? Companies who ownership isn’t available to speak with you doesn’t focus on customer/client satisfaction. Every owner of a company should be prepared to speak with new clientele and express their passion about their business
2. Next, speak with the person (property manager) that will be handling your property. Ask them what their experience in the profession, the market place, and their furthered education is?
3. Ask them what their marketing plan to market your property entails and how they derived their plan?
4. Ask them how your property is going to be properly protected before, during, and after its occupancy?
5. What is their Tenant Screening process?
6. Their knowledge on the eviction process, experience with eviction process, & how many tenants they have had to evict in the last year?
7. Frequency of inspections of your unit both during its vacancy and occupation time period?
8. How they determine their Security Deposit standards?
9. Collection Procedures for defaulting tenants & their success rate?
10. THEIR STAFFING? How many staff members do they have? Who does what? Are you able to talk to them should issues arise? Are their jobs clearly defined. This is imperative because lack of staffing means not enough attention to your property. You will find companies that have 1-2 people doing EVERYTHING which causes burnout and work overload!
As you will see, there are a lot of questions that need and should be asked before hiring a property management company (I say this because you DON’T EVER hire a property manager! Always hire a company that has every function available to properly serve yours and your properties needs).
Check back in with us as we will be adding to this list frequently! If you would like to hear our answers to these questions, call our office at 843-903-HART (4278) or email us at Info@HartRealtyOnline.com
Thanks for reading and learning more about Myrtle Beach Property Management!
Myrtle Beach Property Management- 400 Branigan Ct
Tuesday, February 3rd, 2009
Address: 400 Branigan Ct
City: Myrtle Beach
State: SC
Zip: 29579
Neighborhood: Berkshire Forest
Price: $1,300
Beds: 3
Baths: 3.5
Floors: 2
Full Description: This 3 bedroom/3.5 bath townhouse is a 2 story and has an open floor plan with formal dining room and eat-in kitchen. Trash collection, sewer, water, and grounds care are all included in rent! Sorry, no pets. Please call Rebecca Hart for more information today!
Myrtle Beach Property Management- 577 Blue River Ct.
Tuesday, January 20th, 2009
Address: 577 Blue River Ct.
City: Myrtle Beach
State: SC
Zip: 29579
Country: USA
Neighborhood: River Oaks
Price: $600
Beds: 1
Baths: 1