Property Management FAQ’s

We provide tenant placement and full property management. Briefly, tenant placement is listing on the MLS, marketing, finding and vetting a qualified tenant and then turning the file back to you. Full management is managing the entire term of the lease. We are trained in landlord tenant law and have an ongoing relationship with a real estate attorney, truly worry-free investment home ownership! Because we keep the total of our rental units manageable, we can offer customizable management agreements, attorney-drawn leases and frequent inspections. Managing too many rentals causes a Property Manager to become overwhelmed. We know how many properties we can manage to ensure everyone gets the attention they deserve. You won’t get lost in the shuffle here!

The average Property Manager takes 50-100% of the first months rent and between 7-10% monthly. Our fee schedule is simple and easy to understand. Tenant placement only is 100% of the first month’s rent and you pay nothing until a tenant is in place. For full management, you have the option to choose from 50% and 10% or 100% and 8%. Whatever suits your monthly budget better. We do not charge any fees when the property is vacant. Again, some companies will try to get you to sign because they offer a low rate. As the saying goes, if it is too good to be true, it probably is. Once you’ve signed, a company that seemed inexpensive will now charge you lots of extra fees. At OIR we do not charge any additional fees.

Your property is at risk if your Property Manager doesn’t conduct inspections. It ensures you catch problems before they spiral out of control. Some P.M.’s require a fee. We do not. It is included in your full property management agreement. We do seasonal interior inspections with pictures and a report. Because we are local, we do frequent drive-by inspections as well. All of this and more included in your monthly management agreement.

Never get locked into a contract you can’t escape. Some companies will try to hold you captive with a contract. We feel if you are not happy with our service, it is more difficult to work together. No one should feel trapped in a business relationship that is not healthy. We allow you to cancel the contract at any time, free of charge…although we are so awesome that this rarely happens. If a company is offering you an inescapable contract, it’s time to come to us. Customer service is what drives our bottom line.

Some Property Managers will ask you to sign a contract that forces you to sell the property with them. Don’t fall for this. A quality brokerage would never require this - but rather, they should be available if you wanted to use their brokerage services. Keep in mind, as your Property Manager, we know the ins and outs of your investment home and would be happy to help you sell it when that time comes but you are not obligated.

Some real estate company owners have never even managed a property. We have seen companies jumping on the property management bandwagon to gain extra earnings. We have over 20+ years in the property management field.

We provide a comparable market analysis of the current properties available as well as the ones that have recently rented that are similar, or comparable, to your listing. We are Realtors® and use the Multiple Listing Service coupled with our own expertise to price value your investment property.

The average vacancy time after a property is turnkey ready should be about 2-4 weeks. If a home is priced right, it will rent quickly. With our experience and research, we provide you with a price recommendation that will move your property with little to no delay. Our vacancy rate is low because our properties rent quickly and we maintain a good turnover ratio.

If the others don’t set a standard then how can they be confident the tenant will make rent? Our signature 4-point vetting process not only includes a credit check, but we verify rental and employment history, perform eviction and criminal searches. We actually speak to previous Landlords in order to get a more complete picture of each applicant for your review. We complete the screening and go over it with you. You have the final say in choosing your tenant and we will guide you through this process and ensure Fair Housing Laws are not violated. Bottom line, a well-vetted tenant applicant proves time and again to be a better tenant.

You have 24-7 access to your Owner’s Portal where you can find monthly statements and any invoices paid at your convenience. Because we are a boutique brokerage, you can feel confident in your relationship with your PM and can always reach out to him or her for queries as well. We keep our portfolios at a manageable number so we always have time to answer your questions and concerns. Larger corporations give their Property Managers too many homes to manage and they become overwhelmed and inefficient.