It's easy to think of property management as an expense. In reality, hiring truly exceptional property management, San Antonio landlords, is an investment—one that can make your rental property much more profitable in the long run. During these times of uncertainty we're facing as a community in the face of COVID-19, it's become that much more apparent how challenging it can be to manage the responsibilities of being a DIY landlord.
With modeling that shows Bexar County has yet to hit its peak, San Antonio property owners everywhere are buckling down for the long haul. You may be wondering now: "Can I afford to bring in property management for my San Antonio rentals?" At Real Property Management Campanas, we think the real question is: "Can you afford not to work with professional property management, San Antonio?"
A great property manager can reduce vacancy rates (yes, even during a crisis), provide exceptional maintenance services, and save you both time and money by improving the relationship you have with your renters. If you've been furloughed, had your hours slashed, or your salary cut, you may be starting to see why having a secure form of alternative income pays off.
Still, it's also important to know how much you're paying for your property management team—and exactly what you're getting for your money.
Knowing the Cost
First and foremost, as you make comparisons among available property management, San Antonio, it's important to choose a company that offers transparency when it comes to pricing. A great property management company will make their pricing simple and easy to understand. They'll also ensure that their rates are readily available on their website.
If you have a hard time figuring out what you'll actually end up paying, that's a big red flag in a time when the last thing any property owner wants to tackle is further uncertainty.
We personally don't believe that pricing should be anything but clear and upfront, especially when you're asking someone to sign a contract with your company for the long haul. This is one of those things that being in the business for 25 years has taught us—plus, being forthright is just part of Texan character.
For clarity, the cost of property management is generally assessed in one of two ways:
- You'll either pay a flat, upfront fee for a set number of services.
- You'll pay a percentage of what your property takes in every month in rent.
There are pros and cons to both payment models.
- Percentage model: Many owners prefer the percentage model because it puts accountability on the property management company. For them to make more money, they have to keep your tenants happy, and all the units in your property filled. The downside is that the amount you pay your property management company could change depending on how much your property earns.
- Flat-fee model: Some like the simplicity of a flat fee because you know exactly what your monthly bill will be. The problem with paying a flat rate for property management is that you may be caught off guard by a company that lacks the motivation to go above and beyond.
To ensure that you get the best possible service for your money, at Real Property Management Campanas, we always base our rates on a percentage of the rental revenue for the properties we manage. We back that up with the best service in the industry, coupled with generous protections for our property owners.
Getting What You Pay For
Once you know what you're being charged for property management, San Antonio, make sure you know what you're actually getting for your money. A lot of companies include a few services in their basic rate, only to have you find out later that you have to pay extra for something crucial.
In general, property managers using the percentage model charge somewhere between 8% and 15% of the property's rental revenue. Anywhere in this price range is reasonable; again, just make sure you know what you're getting. If that 8% only covers communication and marketing services, you're missing out on maintenance, tenant placement, and other crucial support that you need to stay in business—now more than ever.
It's just as easy to get hoodwinked by a flat fee. In some cases, the flat fee is only a "leasing" fee, which covers all the services needed to get tenants into your property (advertising, screenings, lease preparation, and inspection) but doesn't include the ongoing management tasks necessary to keep a property going (rent collection, tenant relations, maintenance, repairs, accounting, evictions).
How Real Property Management Campanas Stacks Up
At Real Property Management Campanas, we make all our property management fees simple and easy to decipher. There are no hidden fees or surprises, so our clients always know what to expect upfront. We offer three different property management packages with the services provided in each package clearly laid out because we believe in transparency.
The cost of all our packages is based on a percentage of the rental revenue; that ensures that your goals and our goals are always aligned—to maximize the earnings of your rental property. From our Basic Package (10%) to our Premium Package (12%), and Peace of Mind Package (15%), each option is designed to suit the needs and budget of any property.
While the Premium and Peace of Mind packages include several helpful services and extras, each package includes these crucial management services:
- Make-Ready Evaluation
- Marketing pictures
- Move-In/Out Property Condition Evaluation
- Rent collection
- Online portal access
- Coordinated maintenance
- ACH owner payments
- Monthly statements
- Year-End Statement (1099, Annual Statement)
We're Here to Serve You and Your Renters
We know that a lot of DIY landlords might be feeling a lot of stress and fear right now—not only in San Antonio but across the nation. Here in our neck of the woods, we will always be devoted to providing you with the best service and guidance we can. Whether there's a pandemic or not, we put our boots on every day—and that's not going to change any time soon.
We know that cost is an essential consideration when you're choosing property management, San Antonio—but it's not the only one. Trust is an essential factor in maintaining any relationship: trust us when we say we're here for you right now, and we will get through this together as a community.
When you're hiring a property manager, include dedication, honesty, and reliability among your crucial must-haves. As important as it is to choose a property management company that's within your budget, it's also crucial to hire a company that will value your property and your tenants the way you do—always.
At Real Property Management Campanas, we believe we are that company. If you're feeling overwhelmed by the impact of COVID-19 on your property—or even just your own health—reach out to us. We're here to help San Antonio get back on its feet.