Statistically and historically, if you look at the records for the highest return on investment, real estate sits right at the top! That’s because housing is one of the top priorities of any individual living in the United States. So what that means is that if you have money lying around, invest it into commercial real estate rather than letting it stay in the bank.
Even in real estate, investing in commercial multi-purpose family homes takes the cake! If you have found a prefect property to invest in, you have already completed the first step. The next step is getting in touch with a property management company. Fortunately, property management in Kansas City can be achieved with the help of your real estate advisor or through a dedicated management company.
But before you hire a property manager, keep these few pointers in mind:
In a competitive sector like real estate, work experience really matters. The job of a property manager revolves around dealing with tenants and solving their problems. What that means, the more the experience, and the better it is! So you need to hire a property manager who not only has great management skills but also great people skills.
Information about the Property and Housing Sector
It is crucial that the property manager that you are interviewing has in depth information and an understanding about the property and the housing sector. This is because, as mentioned above, knowledge and experience in a sector as competitive as the real estate sector, go hand in hand. A manager with knowledge about this sector has a decisive advantage over others who don’t have it and can help you achieve better results (read rent).
Management Fee & Compensation
For managing and leasing your property, the property manager or the management company is going to take some form of compensation from you. Usually the management fee varies between 5-10% of the monthly rent received. Also, the property manager will also charge a late rent fee from tenants. This fee is usually kept by the manager. Apart from this, if you have taken up leasing service from the company also, they are going to charge a leasing fee which varies between 4-6% of the rent received during the life of the lease.
So if you are looking for a property management in Overland Park or any other city in Kansas, get in touch with your real estate investment advisor or do a quick search on your favorite search engine.
The author of this blog has more than 10 years of experience in property management services across Missouri & Kansas and has worked with the top real estate and property management firms helping many investors and tenants across the United States. For more details visit : propertymanagerskc.com/property-management-services
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