|Ten most frequently asked questions
We have found that when prospective clients call to ask about our services they often ask the same types of questions. We decided to creat a list of frequently asked questions. Now when you speak to one of our agents, you will already be an informed investment property owner.
Question # 1
How do you find a tenant?
Answer: We utilize many resources when marketing your property. We place ads with local papers. We also post ads on our website that link up to many search engines. We post on Craigslist and other websites and we will place a sign at the property when appropriate.
Question # 2
How do you qualify a tenant?
Answer: We follow the guidelines provided by Michigan Landlord/tenant law. We qualify on the following: Credit, Previous Landlord, Employment history.
Question # 3
How do you determine the rent price for my property?
Answer: We do a comprehensive search of similar properties in your community. We Compare like properties and included ammenities side by side with your home. Based on our extensive knowledge and experience with most communities in the West Michigan area, we are able to determine the right price that will help your home to rent quickly.
Question # 4
How long will it take to find a tenant for my property?
Answer: There are many factors that contribute to a property's value. Location, price and condition of the home play the largest role. It is difficult to say that your home will rent in a specific timeframe but if your property is in good condition, in a good neighbhorhood and priced right, it should rent quickly. A typical home will rent in 90 days on average. It could rent in a week or it may take longer than the average based on market conditions and other factors as we mentioned above.
Question # 5
Why is my property a good investment?
Answer: We believe there are 3 main benefits in owning investment property.
Income: Cash flow
Equity Buildup: While the tenant is paying your mortgage, your mortgage is decreasing
Tax Savings: Tax laws may provide a shelter for depreciation.
Question # 6
How is maintenance handled?
Answer: Our tenants have the option of emailing, faxing or calling in a non-emergency maintenance request. Our maintenance staff are required to contact the tenant within a 24-hour window. The vendor will inspect the problem and provide a estimate while onsite. If the cost is more than $250.00. We will seek the approval of our client before doing work. If the tenant has an emergency maintenance issue, they are instructed to call our 24-hour hotline. We return those calls within 1 hour. These issues typically require immediate approval. You may not be notified until the following business day.
Question # 7
How often do you check on my property?
Answer: We do bi-annual surveys or two surveys per year. We drive by every property once every three months. If the exterior of the home has changed from the last time we visited, we will immediately schedule a survey.
Question # 8
How long do we sign an agreement for?
Answer: Our agreements are for 1 year.
Question # 9
Can you pay my bills?
Answer: We can pay the following: Mortgages, insurances, HOA fees, utilities, property taxes and more.
Question # 10
What does all of this cost?
Answer: Our fees are 10% for investment properties. For family dwellings we are 15%. Larger contracts can be negotiated.