All you need to know about Property Management Company

All you need to know about Property Management Company

First, let’s clarify What a Property Management Company Does? 
It is the operation, control, maintenance, and oversight of a physical property. This can include residential, commercial, and land real estate. Property management is the management of personal property, equipment, and physical capital assets. It involves the processes, systems, and workforce required to manage the acquired property including.

What are the roles of a Property Management Company?
This profession has many facets, including managing the accounts and finances of real estate properties and participating in or initiating litigation with tenants, and contractors. 

An owner of a single-family home, condominium, or multi-family building may engage the services of a professional property management company. The company will then advertise the rental property, handle tenant inquiries, screen applicants, select suitable candidates, draw up a lease agreement, conduct a move-in inspection, move the resident(s) into the property, and collect rental income. The company will then coordinate any maintenance issues and supply the owner(s) with financial statements and any relevant information regarding the property.

Benefits of Using Ultimate Property Management
Ultimate will market your property. We are skilled and experienced at rental marketing with eye-catching rental ads and quality photos. We know the right marketing sites to promote your property and will research the area for the best possible return on your investment.

Ultimate will screen potential tenants. We have experience in reviewing applications and our trained eyes spot those potential red flags as well as the good tenant qualities. At Ultimate we know how to keep the tenants happy. We pride ourselves in our response time and availability to take care of problems when they arise. We are the point of contact for your tenant’s concerns. If something breaks at your property, it’s not always convenient or possible to drive over to the unit to inspect it yourself. A property manager can address problems at all hours of the day and arrange for a service provider to repair or replace the item. 

At Ultimate we have regular service providers that we rely on that are reasonably priced, reliable, and find issues before they turn into bigger problems, which will reduce the number of emergency repair costs.

Consistent rent collection is key to receiving rent payments on time, and using a property management company will help enforce lease policies if payments aren’t received. If tenants are consistently failing to pay their rent on time (or at all), Ultimate will know how to deal with the situation, we understand landlord-tenant laws and fair housing laws.

Ultimate offers state-of-the-art software which captures all financials, property information, and much more…at your fingertips 24/7. Your tenants have a free and easy auto-pay option to pay their monthly rent.

How much does the Property Management Company get paid?
The most common method is a percentage of the monthly rent. The property owner signs a property management agreement with the company, giving the property management company the go-ahead to manage the property and collect rent. The property management company will then keep a percentage of the rent amount and then forward the balance to the property owner each month. 

Owning a rental property can be a great source of additional income. If you’re asking yourself “Do I need a property manager?” — consider this, if someone else is handling the daily management of your rental property and tenants, you’ll have fewer complications and commitments to worry about. The day-to-day management of a property isn’t for everyone and consideration of all the property management benefits that you’ll receive for just a fraction of your rental income.

However, not all Property Management Companies are the same, at Ultimate Property Management, we offer personal service, clear communication, and quick response time - all of which are seldom encountered in today's business world and are the qualities that define our company.  Our Owner Partners and Residents always know that we will provide consistent communication, accurate financials, and an unparalleled level of service.

With Ultimate Property Management, your rental property business is handled by an award-winning industry professional, and we manage your residence with care and diligence, and you have our commitment to protect your investment as if it is our own!

We are the "Ultimate" in property management and would be pleased to have the opportunity to work with you and exceed your expectations! 

Phone: (805) 324-4801
After-Hours Emergency Phone: (805) 618-5226
Email: [email protected]

This article is not intended to be exhaustive or a substitute for qualified legal advice. Laws and statutes are always subject to change and may vary by county or city. You are responsible for performing your research and complying with all laws applicable to your unique situation.