Clam Properties FAQs page provides clear answers to common questions about property buying, selling, leasing, pricing, and services. It helps clients make informed decisions with ease and confidence.
Finding a great property manager
A Property manager can make or break your return on investment potential. You shouldn’t have just anyone looking over one of your greatest assets. Hiring a bad property manager can damage your income potential. An average property manager will get the job done alright, but they might not have the ability to take your investments to the next level. That is why you need to find a great property manager.
In order to find a great property manager, you need to know what kind of characteristics they have, what are the benefits they provide and how much they cost. The key to figure these things out is to know the right kind of questions to ask.
Who is a property manager?
A property manager is someone who works on behalf of a property owner to manage their rental property.
What do property managers do?
The tasks that we perform will be dependent on the contract that is signed between us and the property owner. The duties we perform would be dependent on the needs of the property owner.
We typically perform the following tasks
- Advertising vacant rental properties
- Conducting showings of advertised properties
- Vetting potential clients
- Creating and negotiating leases
- Performing property inspections
- Collecting rent and going after defaulters
- Communicating with tenants
- Overseeing property maintenance
What is the difference between a property manager and a landlord?
A landlord is someone who owns a rental property. As stated before, a property manager takes care of a rental property. They manage the rental property on behalf of the person who owns the property; aka the landlord.
A landlord would hire a property manager to oversee their rental property
Do I need a property manager for my rental property
The answer will depend on what your goals and strategy are with real estate investing. If you are looking for real estate investing to be a bit more passive and hands off, hiring a property manager might be the right direction for you.
This could also depend on your proximity to your rental property. If you live far away, it could be advantageous to hire a property manager to oversee the affairs of the house.
Whereas, if you are close in proximity to your rental property you could be the one to oversee the affairs of the house.
What are the benefits of hiring a property manager
Hiring a property manager can be very beneficial to your investment strategy. It’s a property manager’s job to oversee the rental property on behalf of the landlord. With great property managers, you can rest assured knowing that your property is being well taken care of which allows you to be as hands off as you want.
When something happens in the middle of the night, the property manager will be the one to take the phone call. When tenants aren’t able to pay rent on time and they call in with lots of excuses you won’t have to listen to them
Property managers typically have connections with people or companies who can take care of problems when they arise. They usually know great contractors, cleaners, security personnel, litigants, taxation, etc
How much does a property manager cost
- Percentage of the rent (usually between 7-10% of one month)
- Flat fee based (a set monthly amount)
Before hiring a property manager, be sure you understand their fees structures. Some companies may charge a flat fee for a minimal services and upcharges for add-Ons.
Why Us?
Detail oriented.
We put a round eye on all your property aspects. From records, administration, client welfare, finances, repair & maintenance.
Professional communication
We understand that good communication between both the landlord and tenant is key in forging a last relationship. We work as a mediator between the owner and the client to foster positive outcomes.
Proactive
A great deal of issues can come up at a rental property so it is important that a property manager is proactive when it comes to foreseeing problems and handling them in advance. We take necessary prevention steps to avoid further future damage
What are the different types of Property Management
Residential Property Manager: This is the most common type of property management. Here we oversee single family homes, apartment buildings, condominiums and townhouses. We handle tenant relations, maintenance, repair requests, and other day-to-day operations.
Commercial Property Managers: We handle office buildings, retail spaces, shopping malls and industrial property. The responsibilities are similar however here we deal with commercial leases and tenants.