The Cost-Benefits of a Property Management Company

A property management company takes most if not all of the hassle in renting out a rental home or apartment. Managing your own rental properties is all very well if you have the time, resources, and expertise. What many landlords, especially new landlords, fail to realize is that managing a property is a full-time, multi-faceted occupation where you have to be on top. Many first-time landlords have started off bright, enthusiastic, and optimistic but have soon realized just what it takes and turn to a property management company to look after their rental investment. Amateur landlords find a property management company the perfect solution which enables them to make this real estate investment work.

Vital Aspects

What many first-time landlords do not appreciate is that there is more to property management than merely advertising a rental condo or home and screening potential tenants. The company has to execute the lease and later collect the rent. During the term of the lease the company is responsible for coordinating repair work and routine maintenance. Most provide 24-hour emergency service and document cash flow statements on a monthly basis.

Fee Charges

For their services, property managers charge their clients a fee which typically is a percentage of every monthly rental payment. In addition to the monthly fee, most management companies charge a leasing fee which typically amounts to a month’s rent.

What this means is that depending on the company the property owner might have to pay as much as two months’ rent in the year in exchange for which the property company takes care of the management and all issues arising from it. While at first glance this does appear to be a considerable amount to part with, many landlords reckon that the cost-benefit which accrues from such an arrangement is well worth it. Many landlords might not have the time or the inclination or for that matter the expertise to manage their rental property themselves. This is especially true for landlords who reside some distance away from their rental properties.

All Aspects Marked Off

Rent collection, repairs, and maintenance are the main issues which a property management company faces. Management companies are of tremendous help when it comes to delinquent tenants and the litigation involved in evicting tenants who have fallen behind in rental payments. Since the fees to a company are paid as a percentage of the rental that is collected, a marvelous management company is on top of rent collection.

A Company that Knows this Domain

Talley Properties Inc. is a reputed professional property management company which manages commercial and residential rental properties in the Charlotte region. It has rendered over 30 years of service during which time it has expanded its area of operations to the surrounding counties. This in itself speaks for the success and attributes of the service it provides.

Talley Properties is a full-service management company but remains flexible and will accommodate a property owner who needs only specific services. The company is on call 24 hours a day and prides itself on the swiftness of its response time. The company strives hard to render the best possible service to its clients.

Indicators of a Good Property Management Company

Landlords, especially those away, are always concerned about their rental homes and condos, and whether the managers whom they have appointed are committing any mistakes for which they could be held responsible. There are indicators however through which a landlord can recognize a fantastic and reliable property management company. When those indicators are evident the landlord should relax knowing his rental property is in steady and stable hands. There’s no worse nightmare for a landlord than to have to fire a property management company for incompetence and appoint another. Here are some indicators of a fantastic property management company.

  • A flexible approach to win you over as a client. Quite often property management companies try to sell themselves too hard and count on the naivety of new landlords to win their business. Landlords don’t need to be tied down to packaged prices. A sterling property management enterprise should adopt a flexible attitude which demonstrates an eagerness to work with a client.

  • Hidden costs and add-on fees. Many property management companies look to make a quick buck at every opportunity. Landlords are suddenly hit with unanticipated add-ons such as marketing, occupancy, advertisement fees, and other little additional hidden costs that certainly add up. A property management company filled with integrity is one which is upfront with all the costs so that the landlord is able to choose what services are required, wanted, and can be afforded. The management company should then stick with these costs; an attitude which creates a mutual trust.

  • Communication is critical. Nothing upsets a landlord more than not being kept informed about what’s happening with the property. A magnificent management business will keep the landlord posted with regular updates or reports. If there are any issues likely to evolve the management company should keep the landlord advised and what control steps are being taken. The company should be accessible to the landlord 24/7.

  • Financial reporting at regular intervals is vital. The landlord owns the property as an investment and would like to be kept informed about the income it generates and any problems that are likely to pose a threat. A property management company that wants to attract more customers and retain the ones it already works with would keep the landlord posted with a banker’s diligence about financial generation and the fiscal status. A flourishing company will keep the value of the investment safe and demonstrate transparency in all financial dealings.

  • The company’s management skills should match the property’s needs. Needs will vary from a residential to a commercial property and within the grouping itself. Steady and judicious property management is manifested by a company that has the capacity to meet these needs and be sufficiently resourceful to meet contingency situations should they arise.

  • Capacity to provide a range of services. Landlords, especially absentee landlords, often need full-service management capabilities. This might encompass multiple services beyond the mere rent collection duties and ensuring optimum occupancy.

 

Rewarding Fantastic Work

 

Salient property management services are hard to come by. When a landlord senses the right indicators a full-service, outstanding property management company should be rewarded with increased business and referrals.

 

Still Blossoming

 

Talley Properties Inc. is a full-service property management company with expertise in mid-range and high-end commercial and residential properties in and around the Charlotte, NC region. The company is now in its fourth decade in property management during which time it has forged enduring relations with a host of investors and owners whose rental properties it manages and cares for. The fact that Talley Properties has significantly expanded its sphere of operations since inception speaks for itself.

What can Talley Properties do for you?

Talley Properties is arguably the leading property management company in Charlotte, NC. Its specialty is the management of mid-range to high-end residential and commercial rental properties, a service it has been rendering in and around Charlotte for over three decades.

Hard Work has Paid Off

When it comes to real-estate and property management in this area, Talley Properties Inc. is a byword. Its name is synonymous with trust and efficiency. These are the qualities that have made this property management company the preferred choice of investors and landlords.

Talley Properties is a full-service property management company but is flexible in its outlook. It offers its clients need-based services as well. But if you are an investor, or planning to invest in and around the Charlotte region, or already own property there, consider what this company can do for you.

Maximizing the return on investment is something Talley Properties is renowned for. It always has the best interests of the owner at heart. As far as possible it ensures maximum occupancy of your property at the optimum rate. Talley Properties can do that because of the reputation it has painstakingly built up over 30 years. It is where new arrivals to Charlotte and its environs gravitate when looking for rental homes and condos.

Squared Away and Professional

As much as it protects the interests of its landlords, Talley Properties is aware of its obligations to its tenants whom they have sourced. It strives to address their problems in a timely and courteous manner. Talley Properties has a trained staff that is versed in day-to-day maintenance problems and is able to resolve issues with the least amount of inconvenience to tenants.

The company collects rent on a fixed day so the tenant is aware of his/her obligations. That apart, Talley Properties lives up to all the clauses in the lease agreement. All facilities and amenities are kept in perfect working order, to the best of their ability and within reason, for the tenants’ comfort and ease of operation.

Four Salient Characteristics

There are four ingredients an investor or landlord should be looking for when considering a management company for their rental property. These are marketing, occupancy, operation, and facility.

Knowledge of the local real estate market is critical for a management company to be able to assess a property and know its rental worth. The company should keep itself informed about competitive properties so as to establish the best possible rental rate. Proper marketing of a rental property is a must to minimize vacancy, and in this Talley Properties scores highly because it is a local icon.

Operating expenses are closely controlled so that profits are maximized. Owners are kept updated about their investment with relevant financial statements at regular intervals. Every event of significance pertaining to the property is carefully recorded and readily available to the owner.

Attention to Detail

Maintenance is always at the forefront of concern. Repairs are monitored to ensure that they are of the expected quality. Outdoor areas are also maintained so that they present a pristine and appealing appearance.

Minimizing Risk

Finally if eviction of tenants becomes necessary, the company handles it diplomatically with the least amount of attention and without concerning the owner in any way. Evictions are the exception because pre-rental screening is scrupulously conducted before signing a rental agreement.

The Challenge of Resident Retention

There’s nothing that warms the cockles of a property manager’s hearth more than to have potential residents queuing up at outside his/her office to rent or lease living accommodation. Unfortunately, that’s not quite the case today which has forced many property managers to lower their standards in an effort to attract more prospective residents to sign a rental agreement. This has not gone down too well with property owners and existing tenants.

 

No Longer Neglected

 

Most property managers are aware of the problems that lie in retaining desirable residents. No longer can a property manager or property owner take their tenants for granted. Clued-up property managers and now becoming pro-active in raising the level on improving manager-tenant relations.

 

Proper Courtesy

 

It’s the little things that count like asking a tenant whether anything need fixing in the apartment whenever they meet. Addressing the tenant as Dear ‘first name’ in email communications is a suggestion of respect which is much appreciated. Refer to ‘their home’ instead of the more impersonal ‘your unit or apartment’. Respect the tenant’s privacy at all times. When you want to inspect their homes give them as much advance notice as you can. Show the tenant you care.

 

Coordination

 

Veteran property managers let the owners know that the rules of the game have changed and with the proliferation of vacant properties, it has now become a tenant’s market. Owners and property managers have to exercise more tolerance or else their tenants will shift to rental apartments where the owner and manager are more accommodating.

 

The Possibility

 

Property managers have to juggle a fine balancing act between an owner’s expectations and residents who are now empowered or able to exercise residents’ rights. Owners hire property managers because they want their properties and residents professionally managed. The manager cannot lose sight of this primary objective in the face of increasing vacancies and reducing rents. If they do meet their objective, they will not have enough apartments available to rent.

 

They Know this Area

 

Talley Properties has been professionally managing rental homes and rental apartments in the Charlotte, NC. region for over three decades now. The company specializes in mid-range to up-market residential and commercial properties in Charlotte and all the surrounding counties.

 

Talley Properties have established themselves for excellence of service and cordial resident-management relations. The company is dedicated to its owner clients with whom it strives to create enduring bonds. It respects the investment that has gone into a property purchase and works hard to ensure that the client realizes a good return on the investment. If the investment was only for filing the paperwork and the possibility of any damage to the apartment, then so it.

 

A Flexible and Reliable Company

 

With its real estate expertise in and around the Charlotte regions, Talley Properties can help investors and home buyers source ideal properties and can offer advice on what the property is worth or what type of rental income it could generate. The company offers full-service management services on properties. It is also flexible in its approach and is open to customized services of only those services required.

 

With the burgeoning demand for property management services, more players are entering the arena but they do not have the experience that Talley does. Before you decide to hand over your property to a management service make sure it is dependable, competent, and knowledgeable. Also, go the extra mile and check this property management company’s background. Prospective tenants looking for residential rental accommodation are urged to explore their tenant philosophy.

Do I really need a property management company for my rental property?

The day you invested in a rental property, is the day you added to your list of responsibilities. Running and maintaining a rental property can be a demanding task(s) which could become overwhelming if you are not into it. For this reason many landlords prefer to leave the running to a professional property management company. But is this the right decision for you? Here are some points you may want to consider:

 

  • Are you cut out to manage a rental property? If you are fresh into property investment you might find the operating details a bit daunting. Collecting rent, for example, might see a simple, straight-forward task but it could well turn out to be a painful exercise. While some tenants are no problem at all, others can be difficult. If they acquire a hint of your inexperience they’ll soon take advantage of it.

 

  • Additionally, maintenance of your rental property can be demanding. If you are working at the same time you’ll find it difficult to address tenant concerns and carry out repairs in a timely manner. If you face this problem then property management is the perfect solution for you.

 

  • How far is your rental property from where you live? If the rental property in which you have invested is close to where you live and work then life could be a lot easier. But if it’s far away it could be something of a challenge to travel there every time a problem arises. If it’s tough to visit your property regularly to tackle situations and work with tenant issues as and when they pop up then it makes sense to hire a local property management company.

 

  • What shape is your rental property in? If your property needs regular maintenance and repairs you might find yourself spending more time there than you do at your regular job. If you receive constant calls for repairs then the answer is to have a property management company attend to them. The problem is compounded if you have more than one property. Here is where professional maintenance and management will come as a blessing.

 

  • What services would you need? You should decide on the areas where you need assistance and select your property management company accordingly. For example, if you need only rent collection services then a full-service management company might not be for you. Remember that each additional service costs you money and eats into your profits so make your selection after due consideration.

 

  • Is the company dependable and friendly? Make certain about this first so that you are assured of a pleasant and reliable experience. Do some homework by talking to other landlords and learning from their experience.

 

A Property Management Company for the Ages

 

Talley Properties Inc. is an established property management company which operates out of Charlotte, NC but manages rental properties in many of the surrounding counties. The company offers full-service management services but also accepts customized contracts. Its specialty is in mid-range to high-end commercial and residential properties. Talley Properties has been providing real estate management services to the community for over 30 years now which makes it one of the oldest professional property management companies in the Charlotte region.

What do we at Talley Properties really do?

You probably think that we list a number of properties on our website then sit back in our office and wait for the phone to ring. Being Charlotte, NC’s premier property management company, at Talley Properties life’s not so rosy. Let’s take you through a typical day.

 

Our Role

 

As property managers, our landlords expect us to take care of the properties they entrust to us. This means looking after them physically and being their front in tenant relations. We represent our landlords and liaise on their behalf with their tenants. If a property falls vacant it’s up to us to find a new tenant – that’s part of our commitment to our landlord clients. And if a property needs attention – like a house for rent for example, then it’s up to us to take care of it. That’s our obligation to our clients’ tenants.

 

Our Dedicated Service is what makes us Special

 

At Talley Properties we look after a whole raft of properties spread across a good bit of North Carolina surrounding Charlotte. We operate from Northern Mecklenburg in the north, to York and Union Counties in the south, and from Cabarrus in the east to Gaston County in the west. Click on http://talleyproperties.com/ for a more detailed regional listings locator. We specialize in mid-range to high-end commercial and residential rental properties which we have been handling since 1980, so we’re not short on experience.

 

Our Dedication Reigns Supreme

 

Now when you’re a large property management company covering a wide geographic area, you have your work cut out for you. Apart from physically taking care of properties which include rental homes and apartments there’s an alarming amount of paperwork to keep on top of. Our managers need strong organizational and communication skills together with a talent for numbers. It’s quite a challenge being a manager at Talley Properties because the buck stops there. Our property managers have had to face every type of situation that could possibly arise from flooded basements to cranky heating systems, fires, and burglaries. Being a property manager at Talley Properties isn’t for the faint-hearted. Our managers are all proactive and not reactive. They anticipate, and like boy & girl scouts, are always prepared.

 

Our Scope Reaches Far and Wide

 

At Talley Properties we offer all management services that our clients require. We screen and tenant homes and condos for rent, collect rents, maintain the property, coordinate garbage removal – the list goes on. We even prepare budgets, pay taxes, and list properties. There’s no service we don’t provide for our clients. If you have a rental property on our beat which needs management, come to us and let’s tell you what we can do for you.

There’s More to Property Management than Meets the Eye

Talley Properties Inc. in Charlotte, NC. is one of the oldest property management firms in the city. Over the years by dint of hard work and commitment to its clients, it has grown and has expanded. Its area of operations now covers properties in most of the surrounding counties.

A Company with Staying Power

Talley Properties’ expertise is in management of midrange to high-end residential and commercial properties which it has specialized in since 1980. It offers full service management to investors and landlords, and assists in all aspects of real estate including property purchase. This firm can afford to provide top-quality services because of its in-depth knowledge of the real estate market in the Charlotte region and its vicinity.

Making Your Life Easier

Many entrepreneurs and new investors to the property market, unaware of the complexities involved, quickly become disillusioned with some of the seemingly overwhelming problems that arise. But they need not go through the mill if they leave the day-to-day management to a seasoned firm like Talley Properties.

Hard Work Pays Off

This management firm strives to provide excellence in service to its clients in an endeavor to forge enduring bonds. It works tirelessly to deliver results and provide its clients with the optimum return on their investment. Talley Properties has a goal to encourage investors to the area and to make investing in the Charlotte region of NC a profitable and seamless venture. Here are some of the ways in which it provides investor service:

  • Maximizing profits by securing the highest rent possible on the investor’s rental property
  • Ensuring as brief a turn round as possible of vacant property for quick re-rental
  • Aggressively marketing the property rental through MLS, internet advertising and other avenues
  • Minimizing maintenance expenses through in-house facilities or through known vendors and contractors
  • Speedily attending to maintenance calls from tenants and providing personalized service
  • Attending to tenant complaints diplomatically
  • Supervising and approving all major repairs to rental homes and condos
  • Preparing lease contracts conforming to Fair Housing guidelines and real estate law
  • Closely screening prospective tenants including a credit and background check
  • Collecting security deposits, and monthly rents on the due date
  • Deducting expenses and depositing the balance to the property owner’s account
  • Personal move-in/move-out inspections with deductions from security deposit for damage
  • Providing detailed statements of income and expenditure on a monthly and annual basis
  • Conduction periodic surveys of the property and making recommendations to the owner about improvements and needed preventive maintenance which will increase the rental value and protect the property

 

Going the Extra Mile

Talley Properties adopts a flexible approach to its clients. If there are any services not mentioned or any not required, they will be happy to comply.

Making a Property Investment in Charlotte, NC.

The seat of Mecklenburg County, Charlotte is the largest city in North Carolina with an estimated population just short of 800,000. Population-wise, Charlotte is the17th largest city in the U.S. and the 2nd largest financial center after New York City. Charlotte is also the headquarters of a large number of the nation’s Fortune 500 companies and a major center of the country’s motorsports industry. The steadily growing Charlotte Metropolitan Area is part of a larger thirteen-county labor market region with a population of about 2.5 million people.

A Vibrant City

Of late there has been resurgence in the city’s economy which has prompted an influx of young professionals, couples with children, and retirees. Charlotte is a very livable city with a plethora of attractions and steadily increasing job opportunities. With its burgeoning financial status and improved connectivity, investors are beginning to look at Charlotte as a desirable property investment destination. With the inflow of white collar workers, home and condo rentals are witnessing a steady increase.

A Fantastic Property Management Company

Charlotte boasts a well-established real estate infrastructure among which is Talley Properties Inc. a three decade old Professional Property Management Company. Talley Properties has extended its operating area and now manages properties in many of the surrounding counties. It specializes in mid-range to high residential and commercial rental property management and provides a full range of services to all its clients, especially property investors.

The Best of Both Worlds

When you as an investor hire Talley Properties to manage your rental property you are assured that you are in the capable hands of a real estate professional and true industry insider. Talley Properties will assist you to capitalize on the growing North Carolina market. When you hire Talley Properties to do the legwork and manage your property you can reap the benefits of your real estate investment without the stress associated with it.

A Company of High Merit

Talley Properties has the infrastructure, the manpower, and expertise to manage residential or
commercial buildings. They liaise on your behalf with your tenants. They advertise and market your property, find tenants, screen them, sign lease agreements on your behalf and set and collect rents. Additionally they address maintenance issues, resolve tenant concerns, manage accounts and negotiate with contractors. Talley Properties is flexible. It has the capacity to do anything you want in regard to your property for rent according to the level of interaction you need.

All the Bases are Covered

While it does sound formidable, there’s a great deal more to property management which Talley Properties will take care of for you. For example, there’s the business of conducting periodic commercial tenant audits, maintaining cordial relations with tenants, conducting background and credit checks on prospective tenants, monitoring lease requirements by insurance companies, coordinating security and overseeing and supervising maintenance staff. Talley Properties keeps abreast of tenant and zoning laws, federal laws, tax information, property values and rental prices and everything else, property-related, which does not appear in the fine print.

When it comes to real estate and property management in the Charlotte region, nobody knows it better than Talley Properties Inc.

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