Frequently Asked Questions (FAQs)

What Is Real Estate Management?

Real estate management services are applicable to various rental property types, encompassing both commercial and residential rentals. These services typically entail a management company taking charge of the day-to-day operations of the property or a portfolio of properties on behalf of the landlord. Responsibilities may encompass screening potential tenants, rent collection, addressing tenant maintenance requests and coordinating necessary repairs.

Who Needs the Services of a Real Estate Management Company?

A real estate management company can be beneficial to several types of property owners. For landlords, they offer the time and expertise needed to deal with a portfolio of properties.

When Can the Services of a Real Estate Management Service Prove Beneficial?

Situations where instructing a real estate management service could prove beneficial include when a landlord has too many properties to manage themselves, when a landlord doesn’t wish to hire employees for their real estate business or when an investment property is not located close enough for the landlord to regularly visit it. Another scenario is when a landlord can easily afford the management company’s fees without this significantly affecting their cash flow.

Emile Salame

Are the Services of a Real Estate Management Company Worth the Expense?

Whether or not the cost of a real estate management company is worth it depends on a number of factors. If the cost of these services is less than the opportunity cost of managing properties themselves, it could be a good investment for a landlord. Opportunity cost refers to the potential benefits that an individual consumer, investor or business will miss out on by choosing one alternative over another. Taking opportunity cost into consideration can help promote better decision making.

How Should You Choose a Real Estate Management Company?

When choosing a real estate management company, it’s recommended that individuals should ask for recommendations and check a range of reviews to find the best option for them. Arranging a meeting with several options is also a good idea.

What Is the Role of a Property Finder?

Property finders assist clients with busy schedules by conducting comprehensive searches and aiding them in finding their perfect property. Leveraging their well-established connections with selling agents, they can secure access to properties before they’re publicly listed. Additionally, they have the ability to uncover properties that aren’t even on the market yet.

Can Property Finders Offer Financial Advice?

Property finders will not offer advice regarding the financing of a purchase. However, they can offer their professional opinion on the price of a property, based on their extensive experience and market knowledge.

Do Property Finders Preview Potential Properties on Their Clients’ Behalf?

Property finders meticulously evaluate every property for their clients, enabling them to rule out inadequate options and pinpoint any potential issues that might not be immediately obvious.

Emile Salame