1.What does Raksha do as Property Managers ?
Raksha acts as an agent for the landlord/owner, As part of these we stage the properties for renting such as
- Inspect properties before , during, and after a lease term.
- We Market properties,
- Make properties available for prospective tenants to view
- Receive applications
- Screen applicants
- Coordinate lease signings and lease renewals
- Maintain the investment property
- Provide administrative and financial property management
- For apartments, provide on-site leasing, maintenance, and management services
- Log correspondence in the property management system
- Rental Property Management Software
- Correspond with owners and tenants
- Coordinate utility payments during the make ready process
How much are Property Management Fees?
Raksha property management will get your property ready for showing, interview applicants, collect rents, make repairs, and help with an eviction process. Typically, we charged a flat fee per month or a percentage of the monthly gross rent for these services. Percentages could range from 5%-9%. Other fees that could be charged outside of this monthly commission could be a tenant finding fee, advertising costs, and costs for any repair work.
How will you find tenants for my property?
Your property, along with photos, will be advertised on our website and all major real estate portals, social media and on various online home directories. We also thoroughly screen the applicants. A sign will be placed on the property also. A Property Information Sheet will be prepared for your property with all the necessary information.
What is usually looked for in tenants?
- Stability of employment - this will give you an indication of whether the tenant will be likely to stay for the nominated contract period and whether they will have the money to pay for it.
- Good employment history - ability to pay the rent.
- Avoid over crowding - ask about the number of people who will be living in the property. Over crowding can cause excessive wear and tear.
- Proof of identity - ask the property manager to take a photocopy of a drivers license.
- No criminal/civil lawsuit.
How much will my property rent for?
Your rental value is going to be determined by several market factors including the condition of the property, location, and the rental rates for competing homes in the near by area. Unfortunately, the markets that dictate lease rates vary vastly from the markets that influence value of properties. Please contact our office and we can discuss this with you as it relates to your specific property. Ask us how much you could expect in rent.
How do Property Inspections work?
Regular inspections of the property are completed by the property manager when taking on the rental, midway through a lease term, and when a tenant moves out, and any other time as requested by the owner. Periodic inspections are recommended to determine preventative maintenance due and to gauge the extent of tenant damages (if any) to the property.
What are the most common mistakes made by property owners?
- Purchasing a property in poor condition.
- Even though the purchase price may be attractive, the amount of corrections required to make it inviting to potential tenants can consume every bit of profit made available by a tenant occupying the property.
- Requesting a rent amount that is too high.
- This mistake leaves you with long term vacancies while generating no monthly income. Tenants in the rental market have a good idea of what current rents should be.
- Not keeping an open mind regarding applicants
- The changing economy has forced us to make decisions and review tenant applications differently. On average, tenant prospects have lower credit scores than the applicants from a few years back.
- Failure to take advice from your property management company.
- The rental property business is complex. But years of experience have introduced us to almost every obstacle rental ownership may present. Trust in your management company. We are here to protect your best interest.
- Not addressing tenant concerns in a timely manner.
- Failure to respond to tenant requests can create additional issues for a rental owner. The rental market is highly competitive and tenants in the same area talk with each other. Failure to respond can lead to a search for better managed living opportunities.
How often will I hear from my property manager?
Would you prefer to hear from your property manager every time something occurs with the tenancy or would you prefer them to handle situations with your best interests in mind? Advise the property manager of your expectations to avoid confusion. Also discuss your preferred method of communication - is it by email, your home phone, your mobile?
Who handles the middle of the night calls?
We do! We are on call 24 hours a day. Why worry you? That’s why you hired us! Most emergencies are prioritized and often can wait to the next day.
Why should I choose your company instead of another?
We Communicate Timely and Accurate Information
We research comparable rental properties to determine the highest market rent possible for your rental property. We provide a timely turn around of your vacant properties so they can be re-rented quickly. We seek to obtain the highest market rent possible for your rental property and immediately providing a timely turn around of your vacant properties so they can be re-rented quickly.We keep expenses low by providing maintenance services through our own maintenance staff instead of using more expensive contractors.We handle all tenant calls for maintenance, supervising and inspecting all major repairs of the homes, and thoroughly screening all applicants to provide the most qualified Tenants possible.Leasing Services For Your Rental Property:
- Aggressive Marketing of Your Rental Property
- Prospective Tenant Screening
- Preparation of Lease Contracts for Your Rental Property
- Collection of Security Deposits and Monthly Rents
- Move-In/Move-Out Inspection of Your Rental Property
- Preparation of Monthly Statements
- Response to all Tenant Requests
- Coordination of Contractors
- Complete repairs as requested of Your Rental Property
- Recommendation of Improvements of Your Rental Property