Here you will find answers to frequently asked questions that will help you determine the best property mangement company to hire.
What is the role of a Property Manager?
A property manager is in charge of handling all aspects of day-to-day rental property management, including advertising for renters, screening and choosing tenants, collecting rent, managing maintenance and repairs, and interacting with both the landlord and tenants.
How are repairs and upkeep handled?
SierraLV handles maintenance and repairs by either performing simple minor issues ourselves or by hiring and supervising contractors to do the work. We also handle emergency repairs, such as fixing broken pipes or dealing with power outages, and schedule regular inspections to identify and prevent potential problems.
How do you handle late payments and rent collection?
We take care of collecting rent by establishing a timetable for when it is due and offering tenants a variety of payment choices, including online payments, cheques, and money orders. We also manage and address late payments by reminding customers and, if required, charging late fees.
What are the typical fees associated with property management services?
A management charge, which is a portion of the rent received, as well as additional fees for advertising, tenant screening, and other services are typically linked with property management services.
How do you handle evictions?
Property managers deal with evictions by according to local and state regulations and processes, which often entail providing the tenant notice and a chance to fix the issue as well as completing the required documentation with the court.
How do you handle security deposits?
We take care of security deposits by requesting them from renters at the start of the lease and putting them in a different, interest-bearing account. Additionally, are responsible for returning the security deposit to the renter after any deductions for damages or overdue rent.
How do you handle insurance and liability issues?
SierraLV handles insurance and liability issues by ensuring that the property is properly insured, and by handling any claims that may arise. We also review and update insurance policies as needed, to ensure that the property is properly covered.
How do you handle communication with tenants and landlords?
SierraLV's staff maintains and builds a professional relationship with both tenants and landlords by giving frequent updates and swiftly addressing any inquiries or issues. We also coordinate communications with vendors, contractors, and other parties involved in property upkeep.
Can a property manager also handle the financial side of property ownership?
We can also handle the financial side of property ownership, such as preparing financial statements, handling accounting and bookkeeping, and providing regular financial reports to the landlord.
What are some of the challenges that Property Managers encounter?
Some of the challenges of property management include dealing with difficult tenants, maintaining the property, handling repairs and maintenance, dealing with legal issues and eviction, and staying current with the local housing laws and regulations.
How will you find renters for my rental property?
At SierraLV, we find renters by advertising available properties on various platforms such as online listing websites, social media, and print media. We also use our own professional networks and contacts, such as real estate agents, to find potential renters. Additionally, we use simple eye catching"For Rent" signs in high traffic areas.