Doing it right vs. empty promises.
One of the more challenging things we deal with is competing with low cost providers. Now it's not the cost or profit variance that gets us. It's the quality of services vs. the promises made that are frustrating.
We are ranked at the top of the list on google reviews for property management companies in Austin, Texas. However, when we receive inquiries from new clients the consistent first question isn't how great is your performance or how to do you outperform your competitors. It's typically What do you charge quickly followed by How much can I get for my rental. Both vary valid questions and completely applicable.
The problem is that the low cost competition offering Wal Mart or Dollar General service is not necessarily providing the answers to what matters most. It's easy to say, we're the cheapest or we can get you whatever you want for rent. Once the deal is signed it's much harder to deliver on those promises.
So what do you get for a low cost, typically low quality and hidden fees. I'm looking at one such listing right now. It's approx. 25% over market price and the photo are so small and unviewable that I'm not sure why they bothered. Google maps provides better images. The home should rent for about $2500 max. It's listed for $3150. It's simply not going to lease for that amount and after months of vacancy the owner will have to reduce the price to a reasonable amount. Next let's talk about the photos. The printable area for the photos is approx. 3"x3". The photos are about .5"x.5" and not viewable due to the size. How many tenants are going to get in their cars and drive out on a weekend to see a property that's a mystery? Time is money. Months into this endeavor this owner is going to realize that those apparent savings are very expensive. We include professional photographs using a wide angle lens, custom floor plans, narrated video walk through tours, and more. Did I mention our leasing fee was less than the low cost competitors? They don't tell you that in the marketing. They only discuss how low the monthly management fee is.
It's not easy telling owners that their home may not rent for what Zillow or the neighbors promise. We deliver quality and honesty not empty promises. Sometimes the truth hurts but it's better than going broke on a lie. Follow the lost cost providers at your peril. You don't have to select 1836 but do select someone that has the guts to be honest with the hard facts. No, that lime green paint isn't fashionable! Yes it will turn tenants away.
Call us today for someone you can build a relationship with and trust when you're enjoying the fruits of your investment. www.1836PropertyManagement.com
P.S. Once you put all the fees together we're actually 9%-20% cheaper than the low cost guys. They're going to get you either way. Marketing a service is one thing, performing is another.