The Basics of Property Management

Written by Kyle Kilpatrick; Owner

Considering we’ve been open for business since September 2017 with a total of 10 years of property management experience, I think it might be time to write my first blog as the owner of Real Property Management Talent. Not because I know everything there is to know about property management in Temple and not because I want to impart some wisdom on you, the reader. The one and only reason I thought it would be a good idea to write this first blog about the basics of property management is that I often get questions often about what exactly our services include, how they work, who pays us, etcetera.

People who own rental property often want someone else to handle the day to day operation of that property. That’s where we come in.

Here is a list of the top three things we do, or services we provide for rental property owners:

1. We provide tenant placement services for the property. That involves pictures and videos of the vacant property, online listings on at least 30 different websites, showings of the unit, application processing, lease signings, and move-in documentation. We do our very best to find a good, dependable tenant for each rental property and keep them happy so they will want to continue living there.
2. Once the tenant is in the property, we collect rent, keep the books for each individual property or unit and send the owner and monthly report that outlines all the activity that went on there within that month’s time period. We send payments to the owners each month after we take our management fee out to pay for our services.
3. We also provide maintenance on each of the properties we manage. This involves receiving maintenance requests online from tenants, hiring the right contractor for the job, and seeing it through to completion. There is a section in our property management agreement that we sign with the owners that allow us to fulfill a maintenance request if it is under a certain amount of money. If it is over that amount, we get the owners’ approval first.

So, there you have it. Those are the three basic services that we provide our property owners. There are other, more involved details of course but those are the general, overall basic things we do every day.

We serve two groups of people, the property owners and the tenants. We serve the owners in the ways already mentioned and we also serve the tenants by providing them with a good, functional home. It is important to us to keep both groups happy and do our best work for both of them. That’s why we’re here and that is a little bit about the basics of what we do. Next month we will look more in-depth at the work we do for the tenants and what that entails.