Communicate with us - Essentially, owning a investment rental property is running a business. As someone hired to perform in your best interest, it is vital and advantageous to keep us informed of any decisions or situations you may know of regarding the property. Remaining on the same page will allow us to advise you as accurately as possible and to proceed with the best plan of action.
Read the monthly reports - While some property owners are more involved than others, it's always a good idea to invest a few minutes each month to review the monthly owner reports. The reports are made to be simple and clear, but if anything needs to be clarified, do not hesitate to ask. Our line of communication goes both ways.
Expect the unexpected - As an investor, you must realize and prepare yourself for the possibility that more expenses than anticipated may arise. The security deposit may or not cover all damages or funds owed and not every turnover repair will be allowed to be deducted from the deposit (only rent due and damages not considered normal wear and tear). Set aside sufficient funds for turnovers, surprise expenses or desired improvements. Keep in mind the financial benefits of real estate or long term and be patient.
Consider our advise - we must itemize any deductions upon move-out with documentation (invoices) specifically identifying the charges.
We make every attempt to collect any shortages that we justify as reasonable.
Careful screening and choosing from a large pool of applicants is your primary protection, therefore pricing the rental correctly gives us numerous applicants to choose from. ​
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