At Elite Pacific Properties, we deliver our high quality leasing and Oahu property management services with open and transparent communication as well as accountability and trust. We believe in building strong relationships, and we work hard to provide the best possible customer service to our owners and our residents.
When you’re looking for a company to lease, manage, and maintain your investment property, you need to know everything you can about who they are and how they work. Today, we’re providing five common questions that we’re often asked. We’re also asking you to contact us for more information about how we can help you have the best possible investment experience with your Oahu rental homes.
1. How Much Will My Oahu Investment Property Earn in Rent?
Understanding how much rental income you’ll be able to earn is important, but what’s even better about this question is that it will give you an idea of the depth of your property manager’s local experience in the Oahu rental market. A correct rental value will require a market analysis and some data evaluation, but a good property manager will be able to give you a range based on your property’s location, size, and condition. You want a property manager who understands the rental market and the neighboring communities.
2. How Do You Know You’re Placing Good Tenants?
Tenant placement and tenant screening has an important impact on the type of rental experience you have as well as your success as an investor. You want to be sure your property manager is placing highly qualified tenants who meet a consistent and strict set of criteria. Find out if the screening process includes the following:
- Credit worthiness and financial stability
- Income and employment
- Past evictions or criminal records (nationwide)
- Positive rental history
3. What Do You Do to Maintain My Property?
Your property manager should be available 24 hours a day. Also important is the way they respond to routine and preventative maintenance issues. You want to know your property is going to be cared for throughout the tenancy, not only during emergencies.
Find out how they screen and select vendors. Ask whether they have an in-house maintenance team or they rely completely on outside contractors. Make sure they work with licensed and insured individuals, otherwise your property could be at risk.
4. What Happens if a Tenant Won’t Pay Rent?
Always ask about the rent collection policy and how it’s enforced. Good property managers don’t have to evict a lot of tenants. But, you want to know there’s a process in place when tenants are late with rent. Ask about late fees and rent collection policies. Find out what their eviction rate is and whether they take steps to avoid eviction before it gets that far.
5. Do You Invest in Technology?
The availability of innovative and industry-specific technology has really grown over the last decade. You shouldn’t work with a property management company that has not adopted the latest accounting software, inspection programs, and showing systems. There is a lot that can be automated and made more efficient, especially when it comes to communication. Ask about an online portal where you can see accounting statements and send messages. Make sure you’re working with a company that’s modern, adaptable, and on the cutting edge of technology and best practices.
We’d be happy to answer these questions and anything else you might want to ask about our Oahu property management services. Please contact us at Elite Pacific Properties.