Owning real estate is among the most sustainable and profitable investments anyone could make. However, you must realize that proper property management is key in ensuring you get the most gain and least stress or loss from your real estate ventures.
Property management can be defined as being in charge of commercial and/or industrial real estate such as apartments, condominium units, detached houses, shopping centers, etc. as well as residential properties. It is a delicate responsibility often handed to professionals known as property managers who run and manage properties owned by other individuals or organizations. The main role of property managers is acting on behalf of landlords to ensure there is income generation while preserving property value.
Owners of rental properties are most familiar with the services of property managers. Florida’s lucrative rental market requires expert support from a pro like Kanga Property Management that ranks among the very best property managers in Florida.
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Why You Need Our Property Management Services
Here are some of the many reasons why you should turn your real estate investment over to the rental professionals;
Property Management Credentials
Licensing requirements for property managers vary from state to state although most states, generally, require licenses from local real estate boards. A Real Estate Broker License permits property management companies to include rental properties in the MLS (multiple listing service) and to employ standard real estate marketing methods. It also permits a property manager to place the lockbox of a real estate board on the door of a property, allowing other licensed agents to show the property.
In Florida and other states like Illinois and Delaware, property management firms offering onsite management to condo communities are required to have community management licenses. This is one of our specialties.
Types of Property Managers
In addition to Licensing, property managers are of different experiences and specialties. While some companies are more flexible, here are the types of Property management companies;
- Commercial Property Managers who specialize in managing real-estate for business purposes (office spaces or industrial buildings).
- Multi-family Home Property Managers who are specialists with facilities like apartment complexes.
- Single-family Home Property Managers accustomed to working with real estate investors who prefer to hold and rent their investments for additional income.
We are always very clear in communicating property rules with tenants and keep the communication ongoing.
With this, we get notified as soon as a tenant enters a maintenance request and try to guide them troubleshoot without unnecessary expenditure.
If troubleshooting doesn't work, we then engage one of our trusted and licensed vendors to address them as quickly as possible at the best price.
How Property Management Works!
Property managers who are often real estate brokers handle all the operations, maintenance, and supervision of property rentals for the owners. Their responsibilities, among many others, include; marketing rentals and finding tenants, ensuring rental rates are competitive, covering taxes and overhead payments, rent collection, and following all rental laws.
At the cost of a fee or a percentage of the rent generated by property during its management, every good property manager should keep her owners comfortable in the assurance of profitability. For instance, at Kanga Property Management, we combine powerful marketing techniques to generate interest in your vacancy and this includes syndicated digital listings and traditional advertising techniques.
Like every expert property management company should, we align our procedures with the goals and guidelines of the owners. Corporate owners often provide mission and vision statements while verbal guidance is more common with individual owners for their property goals.
To make sure these outlined goals are always met, property managers have to;
- Set, Collect, and Manage Rent; a basic responsibility of landlords better handled by property management companies with the expertise to conduct surveys on similar properties in the area and settle on competitive rental rates that make properties attractive. This comes with systems for rent collection with monthly or biweekly payment dates and strictly enforced late fee policies.
- Conduct Tenant Screening; this is a key process that ensures your property is occupied by responsible tenants. This process at Kanga Property Management is very important as all applicants go through quick but careful screening with background and financial checks to get the best tenants possible while identifying potential red flags. If a tenant doesn’t work out in the first six months, we find you another qualified tenant at no cost.
- Tenant Management, Budgeting, Property Maintenance, and Record-Keeping; dealing with tenant queries, regular or emergency repairs/inspections, and evictions are some of the management responsibilities of property managers. Also, keeping thorough financial records with all income and expenses is important for accounting, tax, insurance, and investment purposes.
- Legal Guidance; this is key in avoiding unnecessary conflicts and violations that cost time and money. State landlord-tenant laws are complicated and we work overtime to provide help, especially, in Florida to ensure you’re in compliance.
Summarily, you should go for property managers who are very familiar with state and national regulations regarding legal ways to operate from legal screening, security deposits, lease termination, evictions, etc.
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Why Choose Kanga Property Management?
Find the right partner to take care of your property.
We do the right thing!
1We Provide Best-In-Class Service
We work tirelessly to achieve the best possible results for our clients, and we're always happy to chat with our owners and tenants regarding any questions or concerns. Our team is easy to reach and eager to help you achieve your property’s full earning potential.
2We Operate with Integrity
Our team’s main priorities are integrity, transparency, and accountability. We do everything in our power to provide the full story, and we don't charge hidden fees. We do the right thing and constantly strive for improvement.
3We Handle Repairs Efficiently
When your property needs attention, we contact the best and most cost effective service providers. We’ve built relationships with quality vendors locally, and we get your property the attention it needs quickly.
4We are Experienced and Reliable
Our team has worked with hundreds of clients, so we know what it takes to achieve consistent results. Regardless of the size of your portfolio, we have the resources and know-how to maximize your profits.