Who’s Managing Your Property?
In 2011 alone, according to RealtyTrac, 1.2 million investment properties were purchased. That’s up 60 percent from the 749,000 properties purchased in 2010. And the trend is continuing this year as investment property purchases account for 20 percent of all home sales.
This boom in rental properties has created a growing market for property management companies. All Property Management (APM), an online property management network, specializing in single family home rentals recently reported that one fifth of its clients have been in business for less than two years. The median number of properties they manage is 175, although 17 percent are currently managing over 500 properties. 70 percent of APM’s managers expect to see continued and increased growth.
Can a newly created property management company hope to protect you and your property with little to no experience in the industry?
There are a number of tricky situations and technical legal issues involved in managing properties. A recent survey found that on average it takes one to two months to evict a non-paying tenant, and the costs average between $1,000 and $3,000. Now imagine what would happen if your property management company mishandled the eviction due to a lack of experience in the area.
How much time, money and energy could an inexperienced property manager end up costing you?
With our many years of experience and education we are able to handle the legal issues and other situations that occasionally happen while managing properties. Not only is BMG experienced enough to handle an eviction quickly, while keeping costs down, but our pricing structure does not benefit from a vacant property. We only make money when your property is being rented.
We maintain an owner retention rate above 96 percent. We like happy customers and do our best to keep them that way. We want them to use our services because it works for them NOT because they are tied to a contract. Either party in our management agreement can cancel the agreement with a 30-day notice with or without cause. We require that our entire management team provide you and your tenants with prompt and satisfactory service. If you ever have a question or concern, you can contact us at any time. If you are not satisfied with our service, we will allow you out of your contract, free of penalties and fees.