Management Services FAQ
As a professional in your investment area, or not, Portfolio Property Management can help to alleviate some of the headaches that often accompany the ownership of property, which is away from your direct supervision. Our company will be able to assist you with rental problems by offering different management procedures, as well as, developing individual property plans to meet your expectations of the property.
Can I have final say on who rents the property?
Yes, but that is why you have a management company, to take that time waster off your hands. You have better things to do with your time.
Can I use my own contractor if I want to upgrade and forgo the 15% fee you charge?
Absolutely, and we recommend you do. However, if we pay the subcontractor, then he and you are covered under our insurance. If you hire him, then you pay him and carry the insurance. You cannot employ one of our vendors directly.
Do I get a break on price for multiple properties?
Do I need to commit to a minimum contract term — 1 year?
Yes. If you are not happy with our services, there is a clause where you can terminate the contract.
Have you had to evict a tenant before and how does that process work and how long did it take?
Yes. Many times. We hire a 3rd party eviction company. The cost is approximately varies from $450 to $1,000 and the time takes approximately 6 weeks. We actually go to court if necessary and our staff is trained in these matters in court.
How do you select the contractors/handy-person and do you receive a “kick-back” from them?
We are always looking for skilss in the trade, professional demeanor because they are representing our company and our landlords on the property. We value long-term relationships with contractors who perform in a timrely manner and we can count on to do the job right the first time. No, we never take a “kickback”.
How long have we been in business?
I’m looking for a Property Management company that is extremely knowledgeable and trustworthy. Is Portfolio Property Management that company?
Yes. However, it is not just a single company with a single strategy. You are getting involved with a company that also has a mortgage division and a brokerage division that are built on the concept of the investor and his profitability. That is at the center of everything we do: optimizing the investment value at resale. To do this we must optimize the net operating income to which a cap rate is applied. The higher the net operating income, the higher the sales price when you sell.
What do you charge?
We offer personalized management, therefore, fees are negotiable on a property by property basis.
What expertise do you have managing Single Family Homes?
We manage numerous single family houses. The goal of the client is usually to have a stable tenant in the property at or near the mortgage payment with the objective to hold and sell with appreciation. Cashflow is rarely the goal on single family houses.
Would it be possible to speak to two current customers?
Yes, references are available upon request.