Property Management FAQ
At Wholesale Kansas City, we recognize the complexities associated with renting your property. There are many factors to consider, from finding the right tenants to determining the right rent price. That’s why we’re here to help. Our team of experts has the experience and knowledge to guide you through your questions and concerns, eliminating the guesswork!
When looking for a property manager, there are key factors to consider. It is important to ensure that the property manager has a good reputation and adequate experience in the industry. You can ask for references and check online reviews to get an idea of the company’s performance.
You should look for a property manager with a track record of being responsive and easy to communicate with, as you will be working closely with them. Additionally, it’s important to check if the property manager has all the necessary licenses and insurance to operate legally in your area.
The price you can rent your house for will depend on the details of your property. Location is one of the main factors. A house close to desirable areas such as colleges, shopping centers, urban happenings, or transportation hubs can command a higher rent. However, it the area has a high supply of rental units, you’ll need to keep the price competitive.
Conversely, in a less desirable location, such as a less popular area or an area with minimal rentals, you may need to lower the price to attract tenants.
If you’ve listed your home, but it’s not selling, there are several questions to ask yourself:
- Is my home overpriced?
- Does my home need a makeover?
- Am I listing my home for a relevant price to the location that it’s in?
- Does my realtor have my best interest in mind?
- Have I advertised my home?
If you have exercised these avenues to no avail, contact Wholesale Kansas City for support and guidance on selling your property.
We make sure your property is seen by the right people. We’ll showcase your property, complete with photographs, on our website and on various reputable directories. The listing will be included with a detailed property information outline, providing all the necessary components of your property.
The level of involvement property owners have when they hire a property manager will vary depending on the specific arrangement they have with their property manager. Some property owners prefer to have a hands-off approach and give the property manager complete control of day-to-day functions. Other property owners may choose to have more involvement and work closely with the property manager, making decisions together about how to handle issues that arise. Ultimately, your involvement will depend on your personal goals and preferences.
We’ll work with you to market your property based on your preferences, including if you want to put a pet restriction, and we list all our properties as smoking-restricted rentals. It must be mentioned that being too restrictive can delay the rental.
It’s also important to note that it is illegal to discriminate against protected classes as per federal and local fair housing laws. We handle the tenant selection process with the utmost care to ensure compliance with all laws.
Contrary to popular belief, your taxes will not surge when your property becomes a rental. However, once you change your tax status, you will not be eligible for the homestead credit. You can contact Wholesale Kansas City today to discuss the exact figure you can expect for your tax changes.
At Wholesale Kansas City, we understand the importance of keeping your property in top condition. We make sure that your property is regularly inspected. Our property manager will check the property at the beginning of a rental, halfway through a lease, and when the tenant moves out, as well as at any other time requested by the owner.
We have rental terms in place that provide the property owner with legal rights if the tenant were to violate the conditions or terms of their lease. However, in emergency situations, we try to work with tenants to find a viable solution for all parties and to re-rent the property, ensuring it is paid until the lease is signed by a new tenant.
While there is an agreement in place, it is flexible. The agreement is to outline our service and to avoid misunderstandings. It does not lock you into a designated amount of time with our company, and you will not be responsible for a cancellation fee should you terminate our contract.
While we can provide traditional property management services, we also provide additional services, such as lease optioning, where we lease the house to a tenant with the option to buy, or with master leasing, where we become the tenant and buy the house outright, for the same amount you would receive a listing. Master leasing gives you the flexibility to choose your closing date and avoid listing and selling through an agent.
A security deposit typically covers any damage caused by tenants. However, damage caused by tenants is kept to a minimum when proper screening, including credit, rental history, income and employment checks, is conducted, as we do at Wholesale Kansas City.
Renting out a home requires significant due diligence, making it as demanding as a full-time job without the help of a professional property manager. You will need to find out the local and state zoning laws of your area and ensure the home is in top shape, clean and presentable with updated appliances.
Beyond the structural and interior requirements, you will need to be aware of the operating costs. To determine this, add up the cost of the mortgage, utilities, maintenance, and estimated repairs, and then compare those figures to the local renting market to determine a rental price and list the property.
At Wholesale Kansas City, we value trust and communication, as they are key when it comes to successful property management. We work closely with our clients to ensure their goals and expectations are met. Our team is made up of experienced professionals dedicated to providing high-quality service to both property owners and tenants.
Our proven track record of success in managing Kansas City metro area properties is expansive. Choosing to work with Wholesale Kansas City means choosing a partner who will work tirelessly to protect your investment and maximize your returns.
Contact Wholesale Kansas City
If you’re looking for reliable and professional property management services, look no further than Wholesale Kansas City. We offer a wide range of expert property management solutions to meet the needs of property owners in the Kansas City metro area. Contact us today, and let us help you manage your property with ease and peace of mind.