Finding the right management company to look after your investment takes time and research. There are many companies out there, each with it's own philosophy on how things should be handled. Here are a few tips:
1. Check out the company's DRE record at the Department of Real Estate website. www2.dre.ca.gov/PublicASP/pplinfo.asp
2. Check out the company's BBB record at the Better Business Bureau. www.bbb.org
3. Do some more research online. One of the great things about living in the information age is the abundance of information available at such sites as http://sacramento.citysearch.com, www.yelp.com, etc.
4. Ask the right questions. Make sure the representative assigned to manage your rental has the experience you are looking for to manage the way you want them to.
5. Beware the hidden fee. Ask about repair markups, who decides what gets done without your prior approval, emergency repair policies, etc. Many companies have the ability to spend vast sums of your rental income without ever letting you make a decision.
6. Know the terms of the contract before you sign. Many companies have flexible, month to month contracts, which could be an indicator of their ability to keep clients satisfied. If a company needs to "lock" you into a 6 month or 12 month deal, what does that say to you about their ability to maintain a customer's confidence?
For more helpful tips on finding the best manager for your rental, check out our website at www.investorschoicepm.com.
"Experience Property Management the Way it Should Be".
Thomas Martin
Broker, ICPM
(916) 770-9707 Work
(916) 722-2121 FAX
tmartin@investorschoicepm.com
The answer? You don't need one. If we are not at the bottom, it sure feels like we are getting close. Granted, we have not seen the dreaded "next wave" of foreclosures that every media outlet is reporting could come at any time, but I have noticed more investors testing the water, wondering if it is a good time to jump in.
Having been in Property Management since 1992, I have seen the ups and downs, and have kicked myself more than once for holding out too long when I should have bought. Prices for investment properties are great now, with multiple bid situations on many single-family homes under $250k.
If you are on the fence about whether to buy now, get off the fence and get out there. Even if prices fall another 5-7%, it is better to get in while you can rather than trying to predict where the bottom of the market is. Trying to time the event itself is not possible, as the bottom is only recognized in retrospect. One day, maybe 6 months from now and perhaps a year or more, we'll look back and say "oh yeah, March 2009 was the bottom".
If you or someone you know is interested in rental property, give us a no-pressure call about comparative rental rates in your area, or check out our Quarterly Housing Survey, available at our website www.investorschoicepm.com.
Many Real Estate Professionals have discovered the benefit of sending their Management Referrals to ICPM for quality, personalized services. We pay licensed agents one of the highest referral fees anywhere for property management accounts and, because we do no sales, we'll gladly refer clients back to the referring agent for any future buying or selling activity.
Happy Holidays and Early Wishes for a Prosperous 2009!
Thomas Martin
Broker, ICPM
(916) 770-9707 Work
(916) 722-2121 FAX
tmartin@investorschoicepm.com
Have you used your Autotext option to its fullest potential? It is located in your options area (icon looks like a wrench or a box with colored buttons on it, depending on Blackberry model).
The Autotext is designed to automatically correct spelling errors, but there is a much better use for it. You can create your own shorthand by clicking inside the Autotext, creating a new file, inserting the shorthand keystroke(s), then telling it what to replace the keystroke(s) with.
Examples:
Once Inside Autotext>
New> Replace: tm
With: Thomas Martin
Broker, ICPM
(916) 770-9707 Work
(916) 722-2121 FAX
tmartin@investorschoicepm.com
New> Replace: icpmfee
With: Thank you for your inquiry. Our rates and services are as follows: Etc. etc. (you get the idea)
Basically, it means you can do a new file for every email you find yourself having to repeat. I have so many now, that it is very rare that I will have to push more that a few keystrokes to send an email response that is several paragraphs in length. If I type: inq (Thank you for your inquiry), appapp (we already have an application approved for this property, but we’ll keep your info in case anything falls through), piw (Please feel free to check out our website at www.investorschoicepm.com), lmk (let me know if you have any further questions). Anyways, I thought it was a cool idea, and a great time saver. Working 7 days a week, you look for time savers. Good luck.
Sincerely,
Thomas Martin
Broker, ICPM
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Property Management in Sacramento, Rosevillle, Folsom. ICPM is the company for investors that value the quality service and skill that comes from dealing directly with a Broker. -NO Repair Markups-
In over 16 years as a property manager in Sacramento, I have worked with small companies and large ones, and have learned to appreciate the qualities of both. Many clients take comfort in the size of a large company, often overlooking their shortcomings with the rationale that "they are big....they must be good". In some aspects, a big company can be a safe haven for investors that want to hand their rental property over and trust that all will be handled well, having little or no involvement in the process. For others that prefer a more "hands on" approach, a smaller management company may be a better fit, where there is more time and care given to each rental.
One area where a large company may indeed fall short of the mark is in customer service. Overburdened with 2 to 3 times the number of rentals that anyone could manage effectively, the big company property manager is a master of juggling, spending only enough time with each client to keep them from leaving the company, but never keeping their clients truly satisfied. As a former participant in this type of management, I know just how much thought goes into managing 250-300 properties by yourself, and the answer is "not much". When I left big management, I vowed never again to compromise my standards of service, sacrificing profitability in exchange for a more meaningful, dedicated approach to my clients, their properties, and their often-overlooked tenants. It was a life-altering decision, and one of the best I have made in my career to date.
At present, ICPM proudly manages 110 properties with the skill and care our clients have come to expect, in a manner that keeps our clients referring their friends, neighbors and family members.
Our business is over 95% referral-based and we can name every client, their property and their tenants by name.
When we say "Experience Property Management the Way it Should Be", what do we mean by this? There is no short answer to that question, but read on and, if you like what you read, consider visiting our website for more information.
ICPM specializes in the exceptional management of single-family homes, duplexes and condominiums throughout the greater Sacramento area, including Roseville, Rocklin, Lincoln, Folsom, Natomas and Elk Grove.
As a proud member of NARPM (National Association of Residential Property Managers), as well as an affiliate member of SAR (Sacramento Association of Realtors), we are dedicated to upholding the highest standards of excellence within our industry. We attend ongoing classes to keep at the top of the learning curve, as well as to set a good example for our peers within the industry. Whether it's Fair Housing, ADA Compliance, Security Deposit Accounting, our clients have the benefit of dealing directly with a Broker that stays up to date on Tenant/Landlord issues affecting the greater Sacramento region.
ICPM charges NO MARKUP on Repairs, and receives NO KICKBACKS from vendors. Any savings we are able to secure from our vendors are passed on directly to our clients. Many companies mark up the cost of maintenance. Some of these profits are openly disclosed, others are concealed through clever wording on the contract. At ICPM, we strongly believe that properly maintained units are essential, but the maintenance is expensive enough without your management company "padding the bill". We are already being paid a management fee to manage our properties, and that includes maintenance coordination.
At ICPM, all properties are personally managed by a Licensed Broker that stays involved with our clients home(s). If you or someone you know is ready to stop being lost in the shuffle and start being managed effectively, we'd love to have your business. Once you experience property management the way it should be, you won't settle for anything less.
AGENTS: Did you know ICPM does NO SALES and pays one of the HIGHEST REFERRAL FEES? Call us anytime to find out more.
ICPM proudly manages in the following areas:
Property Management in Sacramento, Property Management in Natomas, Property Management in Elk Grove, Property Management in Citrus Heights, Property Management in Fair Oaks, Property Management in Carmichael, Property Management in Folsom, Property Management in Lincoln, Property Management in Roseville, Property Management in Rocklin, Property Management in Loomis, Property Management in Auburn
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