Do you currently own a rental property? If so, you know that taking care of a rental investment can be done in one of two ways. Either you do it yourself or you hire a property management company to do it for you for a fee. Today we’ll go over what our management fee consists of and how it is utilized for your benefit.
Property Management Fee: Leasing Services
Like all property management companies, we collect leasing and management fees for the services that we perform on your behalf. Services such as leasing your property to a responsible and reliable tenant. This process includes, performing a rental analysis, posting your property on as many as 70 different websites, placing a sign in the yard or window, personally showing the property to prospects (7 days a week from 8AM – 8PM). Other services include running background checks and thoroughly screening all prospective tenants that apply for your property, gathering all documentation needed to prove they meet our stringent rental criteria. Once we find a qualified prospect, we then prepare a landlord friendly lease and then move the tenant in performing an industry leading inspection process. (Click here for inspection process) These services take time and are essential to finding the right tenant for your rental property, in the shortest possible time.
Property Management Fee: Inspection Services
Another area our management fee covers is routine inspections with reports. These inspections provide a way for you to see how the tenants are looking after your property. To complement our move-in inspection process we also perform a 90-day inspection and a renewal or move out inspection. The move-in Inspection provides the baseline for all other inspections. This allows us to ensure the tenants are looking after the property properly. You don’t have to take our word for it. We will share these inspections with you. Providing insight and recommendations on preventative maintenance so that your property will always remain in tip-top shape. If you are a current landlord handling management and inspections on your own or want to learn more about it, click here.
Property Management Fee: Maintenance Services
Here at Gulf Coast we can also handle managing maintenance events. Our property management team will answer maintenance calls or online requests 24/7. Dependent on the circumstances and your maintenance preferences, we will organize and dispatch our in-house maintenance team, preferred vendors or your own vendors. Best of all we do not just send maintenance tech’s. Our trained property management team will attempt to troubleshoot work order requests and put the responsibility back on the tenant. Unlike most companies, all of this is achievable without requiring you to deposit an escrow reserve. Please note management fees do not cover any maintenance charges that are incurred.
Additional Services & Pricing
The list of services we offer goes on, everything from monthly and annual accounting, access to a digital owner portal, delinquency and violation processes. To lease properties, we charge 50% of 1 month’s rent and for Annual Rental Management, we typically charge 10% of the rental price. Of course, these fees cover all the services mentioned above and more. To view pricing of our services please click here.
Before deciding on a management company, you should determine what their management fees cover. Some ‘low cost’ options may not include all the fees we have described here. To learn more about Gulf Coast and if we are a good fit for you, or for a free rental analysis please reach out to us or visit our website.
Do you have an interest in learning about our tenant placement services? Click here.
For vacation rental management information, you can learn more here.
Hungry for more? Check out the two blogs below or visit our Owner Resource Center here to find answers to all of your questions. Or give us a call at (941) 782-1559, we’d be happy to answer any questions you may have.