1836 Blog

Discount – Special – Savings!!!!!!

If you’re a new customer and you sign up with us before or at our first face to face meeting we’ll give you a 20% reduction in your initial leasing fees from our side of the table. What does that mean to you? You’re property will still carry the same incentive as it would before to all outside agents. We’ll just do the leasing side for less. This offer is good until Aug. 15th for all new customers. Let’s run through an example of the savings. $1400 a month lease. Normal leasing fees of 80% equal $1120 in leasing fees. If you follow the rules to this offer you’ll save 1/4 of that or $280.00!!!!! That sounds like a plane trip to vegas or the cost of a carpet cleaning and more for free. Email or contact us at anytime for more information. Offer ends on Aug. 15 so let’s get you going before summer is gone.

Kind words…

Working in real estate isn’t always easy. It’s nice when the agents on the other side help vs. hinder the transaction. This is part of an email we got from a fellow agent yesterday. Even though the transaction isn’t going to close we enjoyed working with them also and we wish them and their client the best.

quote begins here-Thanks for letting us know and we appreciate all your work on this, had it closed I am sure it would have gone very smoothly, which is always nice.

Doing this for awhile, you find not all agents are created equal…haha..
and I would be more than happy to work with you again on any transaction.

You’re a true R.E. professional and I really hope your buyer can find a new job (at least we’re in Austin!) and the home of his dreams, close to his family…..hopefully this one wont still be on the market tho 😉

END

We hope not either! You guys were great.

Quote from a fellow agent who brought us a renter…

Thnks for such a quick respnse, Matt. It was a pleasure doing business with a pro.

Steve

Thanks Steve! We do our best.

How much do property managers charge?

You’ve committed to purchase a rental property or rent your house. Congratulations! Panic and a looming question follow your short moment of elation.

“How will I manage my new rental?”

Correctly managing your property will take 40+ hours of your time every year, and that’s just one property. Do you know how much your time is worth? If you are one of many investors who hold more than one rental, the hours can quickly add up with the time it requires to promote your properties, find tenants, and manage the day-to-day maintenance and communication, not to mention counseling the tenants about their personal problems. Hiring a property manager can be an efficient way to both protect your time and maintain your property.

What will it cost to hire a property management company?

When you hire a property manager, you are paying for direct labor, marketing, and administrative services. Direct labor is your property management company’s most significant expense. It covers the people part of your business that responds to tenant inquiries, handles maintenance, and answers your requests as an owner. Shopping by price alone cost could mean fewer staff hours to look after your property and tenants.

Property managers fall into two monthly fee categories.

Flat-Rate Management Fees

In the flat-rate fee scenario, you pay a flat monthly fee. While this is a mass-marketed option, many times the actual property managers are located in an office out of state. When offering lower than market fees, the only way this type fee structure can remain profitable is to eliminate the local property managers. Management from afar will translate into a lower level of service, higher comprehensive costs due to a lack of local knowledge and availability and may turn into more work for you. The last thing you want is to go with the cheapest option, and then find out that the property managers have never actually seen your property in person, have not been responding to tenant’s requests or keeping up with the maintenance. It can cost you tens of thousands of dollars on the back-end to repair what should have been noted in person.

Flat-Rate Fee at-a-glance:

  • Less expensive monthly rate
  • Higher leasing and renewal fees
  • Save money on the front-end
  • Typically round numbers for marketing purposes only
  • Less collaboration and personalized service
  • Property managers are typically out-of-state
  • Plan to have a more hands-on approach to ensure preventative maintenance is done

Percentage-Based Management Fees

In the percentage-based fee scenario, you pay your property manager a percentage of your rental rate. The rate will depend on factors such as how competitive your local market is. A typical rate for Austin is 8 – 10%. While this can appear more expensive than a flat-rate fee, you are working in tandem with your property manager. Like the adage, “a rising tide lifts all boats,” the more you make, the more they make. A percentage-based fee enables a more collaborative relationship and overall better service. Local boots on the ground will give you peace of mind that they are managing your property well, from Austin.

Percentage-Based Fee at-a-glance

  • Could be a bigger monthly investment
  • Typically less expensive leasing and renewal fees
  • Collaborative approach raises the level of service for tenants and owners
  • Local property managers oversee the day-to-day management
  • The more you make, the more they make
  • Typical monthly rate for Austin is 8-10%

Which type of property manager is right for you?

Making the best decision on which type of property management company to hire, involves figuring out what level of service you need from your property manager. Be sure to look at all the details, not just the surface.

Owning investment properties should be an enjoyable, money-making venture! Enlisting a property manager is an excellent first step in ensuring you get a good ROI on your property investment.

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