Real Estate investor property management is a different situation than typical property management. There are many needs investors have that are specialized and require a specialized approach. On this episode, Bob and Brett discuss the ins and outs of investment property management, highlight new services North County Property Group has created especially for property investors, and discuss nuances such as selling an investment property with a "Tenant in Possession" (TIP). Be sure you listen!
Outline of This Episode
- [1:15] Dedicating this episode to real estate investors - this one is for you!
- [1:54] The two types of people who need property management services
- [3:10] Why investors need different and additional services
- [7:19] Property management discounts begin with the 2nd property
- [9:04] Are multifamily properties able to take advantage of these discounts?
- [10:40] The investment property tool we offer for property investors for nationwide search
- [13:30] Selling a property with a Tenant in Possession (leased property with tenant)
- [19:27] Helping investors at the beginning, during, and at the end of property ownership
Property Management for property investors requires a different approach
There are two typical types of people who own rental properties. The first is what the North County Property Group team often refers to as “accidental landlords.” These are individuals who inherit a property from a family member or decide to keep their first home as a rental property after moving into a newer or larger home. These individuals need a property management service that can take the stress and new responsibilities off their plate so that the property can be a blessing, not a burden.
The other category of rental property owners is those who purchase properties as investments, find tenants for those properties, and experience the monthly cashflow income of rental payments from those tenants. These individuals need similar but enhanced services from those in the accidental landlord category. With this in mind, North County Property Group has created specialized services and rates for property owners who are investors. Listen to find out all the ways buy and hold property investors can benefit from our new programs.
Why discounted real estate commissions for investment clients make sense
In the life cycle of every investment property, owners come to a point that they want to sell the properties they hold. It’s inevitable. At North County Property Group we recognize this fact. When that time comes for those we work with in a property management capacity, we’ve come up with a way to say “thank you” for entrusting your properties to us over the years. We are a full-service real estate agency, so we can assist with the sale of the property, and our thank you is that we offer you a 4.5% commission rather than the customary full rate selling agents require. You’ll save money and we get what we want - a continuation of our ability to serve you well. Listen to hear how the program works.
Property Management discounts for investment property management clients
At North County Property Group we value our clients and want to serve them with excellence. That means the more properties you have in your rental portfolio, the more we want to make it easy for you to entrust us with the management of those properties. To that end, we’ve devised special, discounted property management pricing for investors. The more properties we manage for you, the less you pay. For example: our standard program for a single-family residence has no initial setup fee, a leasing fee of 25% of the first month’s rent and a flat $150 fee for extensions or renewals. When you have us manage 5 or more of your properties, there is no fee for lease extensions or renewals. This is just one example out of many possible scenarios. Listen to learn more.
Selling a property with tenants in the property - a specialized scenario
When you own an investment property that is cash flowing just fine but want to sell it for business or personal reasons, there are specialized issues that need to be addressed. The average real estate agent could handle the transaction, but would have a steep learning curve and would likely run into obstacles they don’t know how to address.
Almost every home we sell for our clients has tenants already in place - and we walk our clients through the sale of the property with no problems at all. We’re able to do it because we are specialists in this kind of transaction. We know all the issues, are experienced in completing all the disclosures and forms and know how to treat tenants, owners, and buyers with respect and make it a smooth experience. Listen to learn more about how it could happen for you.
Resources & People Mentioned
- Review specifics of the Real Estate investor property management program
- See our pricing page to get the details on the fees and rates for the program
- View properties listed/sold with Tenant in Possession (TIP)
- Episode Transcript
Connect with Brett Preston
- Brett (at) NCPropertyGroup.com
Connect With Bob Preston
For more information about the Real Esatate investor property manager programs discussed by Brett, click on this link to the North County Property Group website. This episode is always available for listening, sharing, or download at Property Management Brainstorm.