What Exactly Does a Property Management Company Do?

Property management companies act on behalf of landlords. The staff in companies like Catlin Properties Inc. take care of everything for you. These include routine duties like applicant screening and rent collection, occasions like emergencies, and evictions as well.

Self-sufficiency may seem like a good way to save money.  However, many landlords underestimate the extent of responsibilities. The activities are more than signing a lease and collecting rent.   There are many unknown variables like when you might receive a call about an emergency or when you’ll have to make a repair.

Experienced property managers have the skills to keep your property in great condition. They augment your business by ensuring that tenants are happy. Why is this important?  A high quality of life for tenants lowers the vacancy rate, effectively boosting your cash flow.

Discover how CPI can help you with your investment:

1. Application

Good quality tenants follow the rules, pay rent on time, and opt for a long-term lease. Failure to properly screen the candidates may lead to acquiring occupants who only create problems or a revolving door of  short term tenants.  Solving these complications takes both time and money.

CPI will assist you in the selection of suitable tenants for your property. Thorough background checks include:

• Credit check
• Bankruptcy history
• Employment verification
• Eviction history
• Criminal records

When you partner with CPI, we help you pick the most qualified prospective tenants.  We do this while ensuring there’s no breach of legal regulations like the Fair Housing Act.

2. Rental Price

Setting an accurate price is a challenge that almost every landlord faces.   Both overpricing and undercharging can impact your investment. Overpricing leads to a higher vacancy rate and undercharging lowers your potential return. CPI 's property managers are skilled and knowledgeable in the Cowlitz County market.  They can assist you in finding the  perfect price for your rental.  They review market data to decide on the appropriate sum.   In return, the rate is optimal for getting the best results from your investment.

3. Marketing

Strategic advertising ensures your property is seen by many prospective renters.   CPI uses tested strategies for top results.  We have of mix of marketing platforms that we use.     Among these methods, you can find several social media platforms, radio ads, print material, and even the timeless ‘For Rent’ sign in front of a property.

4. Maintenance and repairs

Regular maintenance and swift repairs ensure that your tenants remain satisfied, while keeping your investment in top shape.    CPI has an in house Maintenance Department with skilled maintenance technicians.   We have the ability to get your repairs done a swift and efficient time frame, often saving our owner's with our competitive rates.   Also our Property Managers have vetted  contractors, suppliers, maintenance workers, and vendors.   Utilizing these relationships gets things accomplished a lot faster compared to self-managing.  Some repairs arise during emergencies. When this transpires, landlords have to deal with the additional stress that comes along with it. Having a CPI manage your property  keeps you away from the stress of dealing with emergencies 24-7. 

5. Rent Collection

Steady rent collection starts with drafting a comprehensive lease agreement.   Every contract should outline important terms, such as late payment fees and the duration of the grace period. CPI handles the leasing process and we offer multiple payment methods and effectively communicate the payment guidelines to the tenants.  Our AppFolio CRTM program makes it easy for tenants to submit payments online and for our Owners to see their payments.

6. Property inspections

Landlords inspect their properties for maintenance and check for upkeep. It’s a standard procedure to ensure that the rental units are habitable and safe. There’s a requirement for move-in and move-out inspections as well.  When you have multiple properties, all these inspections can add up and take a lot of time.   Let  CPI take over these responsibilities.   Our property managers conduct regular assessments to ensure everything is in order.

7. Evictions

No screening process guarantees full defense from every type of potential problem.  Every now and then, landlords may face circumstances that leave them with no other choice than to proceed with an eviction. For example, the tenant might cause significant property damage or fail to pay the rent.  Evictions need to follow all legal protocols. CPI will act on your behalf and ensure the proper steps are taken to avoid lawsuits. This is the only way to effectively conclude an eviction.

In summary -Why choose CPI?

One of the benefits of hiring CPI is that we take over the responsibilities of a property owner. The daily tasks are taken care of by our skilled team of professionals. They make the landlord’s life much easier.

Here are some snippets of a property manager’s timetable:

• Determining the rent amount
• Maintenance and repairs
• Advertising the property
• Applicant screening
• Conflict resolution
• Handling emergencies
• Collecting the rent
• 
  

Lastly the CPI  follows all the legal regulations. In many cases, small lawful details make a difference. The skill of knowing what to anticipate resides in familiarity and wisdom.

The first step toward a suitable property management company is to reflect on your requirements. Many landlords opt for a full-service solution. This way you don’t worry about routine burdens anymore, but still, obtain monthly reports and continuous insights on how your rental is prospering.  CPI is a full service property management company ready to take the stress of managing your property , so you can enjoy the benefits of your investment.