One of the biggest obstacles in real estate investment is who will collect rents, screen tenants and handle all of the maintenance issues. A good realtor or superintendent can be worth his or her weight in gold for this reason. If an investor is looking for great property management in Salem, Oregon, then it should not be difficult to find a qualified, skilled firm to perform the services he needs.
First, a good manager will advertise any available units and show the apartment or house. He or she will handle the calls, arrange the appointments and take care of the walk through appointments. He or she will see to it that the prospective tenants fill out an application if they are interested in the unit.
When a qualified pool of possible tenants has been developed and qualified on the basis of reported income, the manager will then conduct the appropriate and necessary screening measures. This may include conducting a criminal background search, reference check and credit check. The agent must also ascertain that the applicant is employed at the location and salary that was reported.
At this point, the manager and tenants meet to sign the lease. The terms and conditions of the lease are discussed in detail, and the manager signs as the authorized agent of the property owner. From this point on, the tenants will deal with the agent and the owner will be relieved of any and all issues in contacting the tenants or in trying to personally resolve their complaints, problems, concerns and issues.
There is a final walk through, which the manager usually attends, and then the tenants take possession of the unit and move in. There are usually minor issues that arise as part of the move in process, and the property owner, again, is relieved of duties because his representative handles all of those items. Once the tenant is moved in, then normal management begins.
The representative collects all rental payments and handles any maintenance calls. He passes any maintenance bills on to the owner, but it is his responsibility to arrange repairs and determine whether the tenant has caused the damages or problems and, if so, who should pay for the repairs according to the lease. This can be rather time consuming, so it is nice for the owner not to have to do it himself.
If things go awry during the rental period, the agent handles the eviction process. This includes any and all visits to court, serving of notices, and collection of past due amounts. The manager also oversees the final lock out phase after the eviction has been completed.
One may expect that property management in Salem Oregon will charge fees according to industry standards. Usually, for a large building with many units, the fee is one month’s rent for the signing of a lease and two to three percent of each monthly payment. For smaller buildings, including stand alone houses, the fee is usually six to seven percent of each monthly payment plus the leasing fee of one month.
Centurion Real Estate Management, LLC are a full service property management Salem Oregon specializing in a wide variety of real estate management services in the Willamette Valley area. (http://www.c-rem.com/)
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