Investment Property + Professional Property Management =
Proper and professional Property Management is the most important ingredient to the formula for successful investment in real estate. Whether you manage the property yourself or hire a professional manager to do the job, it is imperative that your investment is managed with integrity and fiscal responsibility.
When you purchase a property through the Bracci Investment Team, we not only take the time to introduce your property manager to the current tenant(s), but also share whatever knowledge we have of the property through listing information, the seller’s information, and home inspections. We strive to provide all of the information needed to manage and maintain your property responsibly and with integrity.
We are familiar with several management companies in the Rochester area. Some have demonstrated their ability to maintain properties to code, minimize vacancies/unpaid rent and maximize the investor’s profit. We regularly interview managers in an attempt to find the best and most efficient companies. If you would like suggestions on which manager to retain, we can offer referrals based on our past knowledge of their success and service. If you happen to find one that you have had good success with, please share that information! After all, client satisfaction is our #1 goal. If our clients are not happy, neither are we!
Prior to closing on your property you contact your property manager. They will send you their property management agreement and ask you to review and sign it. If you ever have any questions, we encourage you to ask them, or us, and we will get you your answers.
Whenever a new owner takes over a property the tenants always seem to have a “wish list” of little repairs or improvements that the prior owner may have delayed or didn’t know about. You can begin the landlord tenant relationship on a positive note by taking care of these little things to improve the tenants’ living conditions. Repairs covered under this heading may include: window screens, storms, latches, doors, cabinets, minor peeling paint (window sills, porch railings), minor exterior yard work/curb appeal, mailbox repair/ replacement, light fixtures bulb replacement, minor wall and ceiling repair (fingerprints, stains, scratches, broken tiles), handrails. We recommend that, prior to closing, you plan on providing some funds (generally a few hundred dollars) for these minor improvements so the property manager can get started as soon as possible and demonstrate to the tenant that you care about them and are serious about keeping the property in good condition.