FAQ FOR INVESTORS
Our specialty is utilizing streamlined processes with custom solutions for each real estate investor. Whether our client has one property or hundreds, we optimize operational procedures while tailoring strategies to meet the unique needs of each individual investor. This approach helps enhance efficiencies, reduce costs, and maximize returns. By combining streamlined processes with personalized solutions, we create a more client-centric approach, enhancing investor satisfaction, and achieving better outcomes for both the investors and Grant & Main.
What is a property manager?
A property manager is a company hired to oversee various aspects of real estate properties on behalf of the owner. Their responsibilities include tenant management, property maintenance, rent collection, and more.
What services do property managers provide?
Property managers offer a range of services, including tenant screening, lease agreement preparation, rent collection, property maintenance and repairs, handling tenant inquiries and issues, marketing vacant units, brokerage services, and ensuring legal compliance.
How much does a property manager charge?
Property management fees can vary based on factors like location, the number of properties, and the services provided. Fees are usually a percentage of the collected rent or a flat monthly fee.
Should I hire a property manager instead of self-managing my property?
Hiring a property manager can save you time, reduce stress, and provide expertise in managing properties, handling tenants, and ensuring legal compliance. It’s especially useful if you have multiple properties or live far away from your rental property.
How do property managers find and screen tenants?
Property managers advertise vacancies, conduct background checks, verify rental history, employment, and credit scores, and interview potential tenants to ensure they are reliable and suitable for the property.
How do property managers handle maintenance and repairs?
Property managers coordinate maintenance and repairs by using internal maintenance technicians, hiring reliable contractors, scheduling inspections, and ensuring that the property remains in good condition. They address tenant maintenance requests and emergency situations promptly.
Can property managers assist with legal matters and evictions?
Yes, property managers are knowledgeable about local landlord-tenant laws and can assist in drafting lease agreements, handling eviction processes, and ensuring that all legal requirements are met.
How do property managers communicate with tenants?
Property managers serve as the main point of contact for tenants. They communicate through various channels, such as email, phone calls, and in-person interactions, addressing questions, concerns, and maintenance requests.
What happens if a tenant doesn't pay rent?
Property managers typically have procedures in place for handling late or unpaid rent. This might involve sending notices, communicating with the tenant, and initiating eviction processes if necessary.
Do I have to give up control if I hire a property manager?
While you delegate day-to-day tasks to a property manager, you still maintain control over major decisions. Property managers keep you informed and seek your approval for significant matters.
How can I find a reliable property manager?
Research property management companies or professionals in your area, read reviews, ask for recommendations from other property owners, and conduct interviews to ensure they align with your needs and values.
Can property managers help with long term property strategies?
Yes, experienced property managers can offer insights into market trends, rental rates, and property improvement ideas that can contribute to your long-term investment strategy.
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“Grant and Main have been managing in the last year almost 100 doors for us, mostly single family homes. They have been the best. Professional, responsive, they know what to do, and how. Megan knows Detroit processes and she is very knowledgable. We are very lucky to have Grant and Main manage our properties. Every month we see better results. More income, more houses tenanted. Very happy.”