It is our desire as professional property managers to make your investment as profitable as possible and to protect your pride of ownership. To facilitate this we will provide renters with diverse opportunities in clean, comfortable homes.
We would consider it an honor to be given the opportunity to discuss our services in detail with you and show you how your property will be managed by Ledgeview Commercial Partners.
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WHEN SHOULD YOU HIRE A PROPERTY MANAGER?
If you own an investment property, you probably have already done some hard work, extensive research, and had a fair bit of determination. But the work doesn’t end once the contracts are signed.
As a property owner, you're not just responsible for acquiring and maintaining your properties; you also need to ensure they generate consistent income while keeping both tenants happy and the property in good condition. It's a juggling act that can become overwhelming, prompting many property owners to consider hiring a professional property manager.
At Ledgeview Commercial, we believe that property management can resolve a lot of the headaches you get when managing your own property. But we also understand that it’s imperative to know all the pros and cons before making a big decision like this.
Here are some factors you should consider before you hire a property manager:
1. You want to scale and expand your portfolio
As your real estate portfolio grows, so do the demands on your time and resources. Managing multiple properties requires you to be organized, timely with your responses to tenants, and effective at marketing your property to attract new renters.
If you find yourself stretched thin and struggling to balance the demands of your expanding portfolio, it may be a clear signal that it's time to hire a property manager. They can bring the expertise and resources needed to efficiently oversee your growing real estate empire.
2. You don’t have time
Effective property management demands a diverse skill set, including marketing, legal knowledge, financial acumen, and people skills. If you find yourself lacking in any of these areas or simply don't have the time to stay on top of legal requirements and industry trends, a property manager can fill these gaps. Their expertise can help you navigate the complexities of everything from fielding applications to handling maintenance and financials, ensuring your investments are not only profitable but also compliant with regulations.
3. You don’t live near the properties you own
If you live in a different location than your properties, managing them from a distance can be challenging. If your rental properties are spread across various cities or states, hiring a local property manager becomes crucial. A local manager can provide on-the-ground support, handling property inspections, maintenance, and emergency situations efficiently. This can be especially beneficial if you are unable to visit each property regularly or if you live far from your investments.
4. You struggle finding quality tenants
Attracting and retaining quality tenants is a key aspect of successful property management. If your marketing efforts are falling short, or if you're struggling to fill vacancies, a property manager can implement effective marketing strategies to attract the right tenants.
They can also conduct thorough tenant screenings to ensure that your properties are occupied by reliable and responsible renters, reducing the risk of late payments and property damage.
5. You don’t like managing tenants and their conflicts
Dealing with tenant issues and conflicts is an inevitable part of property management. If you find yourself spending more time than you can afford on tenant disputes, late payments, or property-related conflicts, a property manager can step in as a neutral third party. Their experience in conflict resolution and tenant management can help maintain positive tenant relationships and reduce the stress associated with day-to-day property management.
6. The maintenance issues are getting to be overwhelming
One of the biggest inconveniences about managing your own property is dealing with the maintenance issues. They come up at all hours and often turn out to be a bigger problem than you anticipated. If coordinating repairs, handling maintenance requests, and conducting routine inspections become overwhelming, a property manager can take on these responsibilities.
Property managers not only respond to these maintenance issues quickly, but they typically have established relationships with reliable vendors, schedule timely maintenance, and ensure your properties remain in top condition, reducing the risk of major issues and unexpected expenses.
7. You don’t have the time or desire to keep up with the legal aspects
Navigating the legal aspects of property management, including rental agreements, evictions, and fair housing laws, can be complex and time-consuming. Staying informed about changes in regulations is crucial to avoid legal issues. A property manager is well-versed in local and state laws, ensuring that your rental properties operate within the legal framework. This expertise can protect you from potential legal pitfalls and liabilities associated with non-compliance.
8. Financial Management
Maintaining a healthy cash flow and maximizing profitability are fundamental goals for any property owner. However, tracking expenses, setting appropriate rental rates, and handling financial transactions can be overwhelming, especially as your portfolio expands. A property manager can take on these financial responsibilities, providing you with detailed financial reports, ensuring timely rent collection, and helping you make informed decisions to optimize your return on investment.
9. You’re willing to make a little less money to not have to deal with the headaches
While you might take home more money at the end of the year if you manage your own rentals, there many situations where it makese more sense to have a property manager. For many property owners, the tradeoff in income for peace of mind is worth it. And often, paying for a professional to manage your property can actually reduce your overall management costs by controlling maintenance fees and avoiding potential issues that could result in legal fees, vacancies, and damages.
Hiring a property manager can help you enjoy the benefits of owning an investment property while minimizing the stress involved with such a process. It’s important to take the time to research and interview potential property managers, and make sure you choose someone who has the experience, services, communication, and reputation, that fit your needs.
Supply rental applications and other documents necessary to meet landlord/tenant laws
Ensure required maintenance is done in a timely manner
Fully computerized and detailed monthly statements accounting for income and disbursements
We handle all resident relation issues and concerns
Fully account for deposits
Obtain bids and notify our clients prior to any excessive expenses regarding their property
Provide 24-hour emergency maintenance service
Disburse tenant deposit refunds and supply required documentation
Collected rent and deposits are maintained in a client's trust account, subject to periodic auditing
Our web page provides 24 hour marketing of your vacant property
We use leading edge software for managing your properties efficiently and cost-effectively
OUR TECHNOLOGY ADVANTAGE
We invest in advanced technology systems to provide you with the best service and manage your properties efficiently with cost-effective methods in mind.
Because of this property management and accounting software called AppFolio Property Manager will be used to maintain your properties.
OUR TECHNOLOGY BENEFITS
Respond faster and provide better service to both owners and residents
We can securely access information about all properties at any time and from anywhere. Sensitive data is securely housed in a state-of-art data center, and backed up regularly and automatically.
Monthly statements can be delivered to your email inbox, saving time and paper
The statements are easy to read and provide you with a quick snapshot of your property details for the past month.
We address property maintenance issues faster
Electronic work orders are created to maintain order and communicate with vendors and tenants to quickly solve issues.
You will be paid faster and more securely
Electronic payments (ACH) will be used to deposit funds directly into your bank account.
We can more effectively market your properties to fill vacancies sooner
We can quickly and professionally advertise your properties on our Web site, Craigslist, Facebook, and roughly a dozen other web sites.
Concise statements covering the performance of your property for the previous month
All data on your property is stored in a state-of-the-art data center
Access information about your property 24/7
Access information about your property from anywhere with an internet connection
Below is a breakdown of our “typical” management and maintenance fee schedule. Management Fees vary depending upon the size and location, and services requested by investor, but generally fall into this range. Investors with multiple properties may qualify for discounts.
Multi Unit Buildings
(2 Units or more)
9% of gross income collected with no monthly minimum for full management. Cost savings available for larger portfolios.
5% of gross income collected for hybrid management.
Per door or percentage of monthly HOA/COA dues depending on size
Single family homes and condos
(One Unit) $100 - $150 per month depending on location
75% of one months rent on a 12 Month Lease or prorated based on the lease term. No duplicate fees if a lease terminates early.
Court appearances for evictions are included in the management fee. Ledgeview Commercial does not provide legal services and works with an attorney during the eviction process.
Data entry in to our system and setting up services takes time. However, there are no additional fees for on-boarding your properties with Ledgeview Commercial.
Small plumbing, Electrical, Carpentry, Drywall, etc. $ 40-60.00 / hour
Painting, Cleaning, Lawn maintenance, Snow clearing $ 40-60.00 / hour
Items not listed and at agents discretion $ 35-60.00 / hour
After hours emergency calls (6p-8a) $ 60-75.00 / Hour
Supplies and Materials markup 10% of cost
In house maintenance price per hour varies based on the maintenance tech available and skill level. No minimum hourly charges apply.
Any 3rd party contracted work on the property or for owner. Markup based on total invoice cost. Any Project quoted above $40,000 would need to be handled with a General Contractor outside of Ledgeview Commercial or by the owner directly.
9% of invoice if $1000 or less
8% for any invoice between $1001-$5000
7% for any invoice above $5001
5% for any invoice replacing siding or roofing
Please contact us today to discuss your property management needs.
603.591.1246 or TMotyka@Ledgeviewcommercial.com
All fees listed on this website may change without notice. Actual fees charged according to the terms of the management contract.