These three issues (to name just a few) usually plague rental
property owners like yourself, on a regular basis.
After all, if you are like most real estate investors who live out
of town, (maybe even in another state) you can’t just jump in your car and drive
over to the property. You have to rely on your property manager or the tenant to
act in good faith. And we both know this doesn’t always work out in your favor.
Costly Mistake # 2 –
You are Falling prey to unscrupulous or inefficient repairmen.
If you have owned your property awhile, I am sure you remember the
annoyance of being over charged by one of
For example, your Plumber shows up
to fix your leaking toilet, charges you $75 to drive out, $85 to fix the
toilet, and $35 in parts for stuff that costs $8 at Home Depot. OR…
Your AC repairman comes out to fix
your system. And after just 20 minutes of looking over your AC
unit, he tells you it can’t be fixed,
and you need a brand new system. You’re left wondering if he is really
looking out for your best interest… or his own.
Does any of this sound familiar? After a couple of years of
experiencing this type of service, I decided to do something about it. We
Our own 24/7 Zero Overhead Repair Service
We went searching for and found electricians, plumbers, and AC
repairmen that are 1 or 2 person businesses. They are licensed and insured
and operate out of their work trucks. There is no office space, fancy
trucks, expensive advertising, or employees, so their over-head is next to
These guys constantly suffer from inconsistent business: a typical
“feast or famine” cycle. So when they find us, we give them steady work
which smoothes out that annoying problem. In other words, we can instantly
fill 50%-75% of their time, and they never have to spend any advertising dollars
to keep this business. We simply insist they do quality work, and our
clients receive discounted rates.
For example a typical electrician might charge your $125 an hour,
$75 trip charge, and a 300% markup on parts. On the other hand, our
electrician charges us $40 an hour including the time it takes to drive to your
property and zero mark-up on parts. He comes out ahead because he is NOT
just fixing your house that day. We have also given him one or two other
electrical jobs at other properties.
Keep in mind, the electrician we hired spent no money on advertising,
office rent, receptionist, or any of the other significant costs.
Therefore, he is earning more “take home” money compared to the electrician
working at a large electrical company, with far
less headaches. Can you see how this would work for him (and you),
in a positive way? The net result is:
Your Cost To Repair Electrical, AC, Or Plumbing Issues Is At Least 50% Less Than
You Will Pay Working With Other Property Managers
Our ballpark estimate of what our typical clients saves in repair
costs is $875 a year per property.
More importantly, you typically don’t need to hire an electrician,
plumber, or a contractor for minor repairs.
A well trained, responsible handyman can easily
handle 80% of repairs that typically come up. Our company actually
has 4 of these handymen on our payroll. You end up saving even MORE money
on these types of repairs.
For example, any handyman (worth is salt) knows how to quickly
repair broken or leaking toilets and sinks. You don’t have to hire a
plumber for that kind of stuff. If you do, it is simply an overkill and
much more expensive. It’s like visiting the emergency room for a migraine
headache and getting a prescription. The visit would probably cost you
around $700 while your neighborhood walk- in clinic could provide the same thing
Obviously, any type of serious repairs will be handled by our licensed
and insured plumber, AC tech, electrician, or contractor. But, the fact of
the manner is that most repairs are minor and do not fall in that category.
Be leery of any property management company that just hires
repairmen from large companies driving fancy trucks. You end up “paying
through the nose.” The property manager is paying
top dollar to companies with
huge amounts of overhead.
Not to mention, these repairs are being completed by an over
qualified technician, which (more often than not)
could be repaired by a competent handyman, at a
fraction of the cost.
Mistake # 3 -
Your Property Manager is not responsive to people calling about renting your
Here is what I mean by that statement: Let’s face it, finding
professionals in any service business is an up-hill battle. And in today’s
economy, your property manager
BETTER be hungry for business, answer their phones, and return messages
quickly, OR people will go elsewhere.
Here is the simplest way to find out if your property manager is
responsive to tenant inquiries: Call them up at different points in the day, and
see if they actually answer the phone.
If You CAN’T Get The Property Manager On The Phone (Consistently) Neither Can A
Possible New Tenant!
Let me put it this way: if more than half the time your phone calls
(to your property manager) go straight to voicemail,
you are losing a boat load of tenants that could
have rented your property. Why? Because when a tenant calls
in to get information, they are in the mood, RIGHT NOW, to get some answers and
go look at places to rent!
When that voicemail turns on, half these people just hang up the
phone and call the next landlord on the list. You just potentially lost
your next tenant, and your home continues to sit
vacant, with cash flowing OUT of your wallet instead of INTO it.
And here is an even scarier thought: If your property manager
cannot be counted on to answer their
phones consistently, can you count on
them to put up rental signs? Or run quality classified ads? What
about doing proper background checks, or making potential new tenants feel
valued and important?
What I am trying to say is (as I said earlier) when someone is
doing a couple of things wrong…they are
generally doing loads of things wrong. And, there is no way you’re
ever going to know because you’re not there. You live out of town.
You can’t easily check up on them, and therefore, they have no real
accountability to you.
Obviously, the solution to this problem is pretty straight forward:
Find a Property Manager that enthusiastically
responds to tenant inquiries!
At our company, we answer well over 94% of all calls within the
first 3 rings. I know this because I check periodically to see how many
calls go to our voicemail on a given day.
When we are closed, our calls are forwarded to a 24 hour (live
person) answering service. These messages are then emailed to us, and we
respond back to the caller no later than the next business day.
However, we have also created a very special system for
specifically handling tenant calls.
We call this system our “11 Hour Straight Talk”
We have dedicated cell phone numbers on all of our advertisements.
This way, any person calling about renting your home reaches my leasing staff,
directly from 8:00am till 7:00pm. Let me
emphasize that after we close, my leasing staff continues to answer these tenant
calls or return messages until 7:00pm, 7 days a week.
The bottom line is that you are not losing tenants because your
property manager is closed at 5:00pm or unwilling to answer calls on the
Costly Mistake # 4 -
Not Working with Someone with a Systematic Process for attracting a “constant”
stream of quality tenants
Gone are the “good-old days”… of just throwing out a rental sign in
the yard, on Wednesday, and the home would be rented by the end of the weekend.
There is just too much
competition out there, at the moment.
Let’s Face It, Finding Quality Tenants Fast, In This Economy, Is Extremely
If it was easy, you and I wouldn’t be having this conversation.
There is no way anyone can successfully manage properties --
especially a large volume of properties -- unless they have a proven system for
finding quality tenants quickly. My business partner and I have spent the
last 12 years creating, testing, and refining our marketing system. We
call it our “Instant Tenant Attraction,”
and it generates 5 to 7 times the amount of tenant calls as the traditional
rental signs on the property and ad in the newspaper.
Let me discuss a few of them now, but keep in mind, all these
methods are trade secrets that my competitors would love to learn.
Therefore, I obviously can’t reveal all my strategies so I will only highlight
a couple of them.
1) We generate
532% more responses than a newspaper ad using a little known but highly
effective website for advertising rentals. I know this sounds
unbelievable, but we have tested this over and over again, with the same
results. Nowadays, tenants simply prefer looking for rentals online,
rather than the newspaper (as evidenced by many newspapers, around the country,
struggling or going broke recently).
2) A rapid process
for qualifying good tenants, and getting them to put down a deposit on your
rental, quickly. Most managers take 3 or 4 days to approve a rental
application. By that time, the tenant has often found something else.
Now this is not to say that we
aren’t being picky, WE ARE. For example, we have found that about
30% of tenants are lying (a little or a lot) on their rental applications.
They might use their friends as their landlord or employer, give a false social
security number, or are currently under eviction at their present address.
There are dozens of scams that horrible tenants use to try and slip under the
radar, and move into your home.
However, the reason we focus on completing the background checks
for a possible new tenant -- within 24 business hours -- is extremely
important. When you think about it, the tenant is still out there… looking
at other properties. IF he or she appears to be a quality tenant, we want
them off the market by signing your lease,
sooner rather than later.
At last count, we had over 17 different methods for attracting
quality tenants. This stuff took years
of testing and refining all sorts of ideas, to find the ones that actually work.
Costly Mistake # 5 –
Your Property Manager Doesn’t Own Any Rental Properties,
therefore, doesn’t share your perspective
This is THE ONE question you must ASK before you even
think of hiring a Property Manager.
I am sure you would agree, if I haven’t “walked in your shoes” as a property
owner, how can I understand your
pressing need to find a good tenant. Or just how vital it is to keep
maintenance costs reasonable?
It’s like asking a guy for parenting advice, who is a 40 year old,
confirmed bachelor…He just doesn’t have your frame of reference.
Did You Know That Most Property Owners Are Losing At Least $1500 A Year Of
Income On Each Rental Property...
which could have (just as easily) went into
their wallet. Why? Because of lack of urgency of their
property manager -- who has never owned more than one or two rental properties
in his life (if that many). He or she just
doesn’t understand the need for
passionate attention to detail in marketing, screening for good tenants, or
finding high quality, inexpensive repairmen.
My business partner, Chris, and I live these issues everyday with
our own rental properties. We own over 20 single family homes. In
order to meet our mortgage payments, property taxes, insurance, and repair
bills, we had
to figure out how to solve these problems, and do so quickly.
In fact, it is from learning how to
make our own rental properties profitable that we developed our marketing,
tenant screening, and maintenance systems. These systems now
form the core of our business: Stress Free Property Management.
Without question, there is nothing like the
necessity of having to pay over 20
mortgage payments each and every month to provide
desire to get better and better, as a
Costly Mistake # 6 -
Paying Unnecessary Fees to your Property Manager
• A Set-up/Processing Fee of $250-$400
simply to set up your rental property in their computer system? To be
blunt, this fee is completely bogus.
In the real world, it only takes about 5
to 10 minutes to type in your information into the computer. Okay, to be
fair, it might take a few more minutes to pull out a filing folder, label it,
and put the management agreement into it, but that 15 minutes of work doesn’t
justify this fee.
• Charging the Leasing Fee UP FRONT –
This practice is absolutely absurd. Normally, all management companies
earn 50% to 100% of the first month’s rent, to find you a qualified tenant (i.e.
leasing fee). This fee should only
be paid once they do (in fact) find you a quality tenant. NEVER pay this
fee in advance, because there is no incentive for the company to make the extra
effort to find a great tenant quickly.
• Advertising Fees of $500-$700 to “market” your
rental – The bottom line is this should be a cost of doing business for
the property manager (not you). You shouldn’t be charged a dime for this.
It’s like going into a grocery store, and the check-out clerk tacking on an
extra 15% “advertising fee,” once she rings you up. It just doesn’t make
Costly Mistake # 7 -
You hired a Realtor, who sells homes for a living, rather than a Property
If you stop for a moment and think about this, most realtors (in
fact most people) do not enjoy being property managers. In fact, if
someone didn’t choose to specialize in
property management, he is in affect choosing to do it part-time.
Therefore, how good can he possibly be? It’s kind of like an accountant
selling mortgages, or a high school teacher selling life insurance on the side.
Not to mention, if someone is just doing something to pay their
bills, when their regular income is slow, what happens when their business picks
up? You would have to think your property would become less of priority,
Sadly, for most realtors, who dabble in property management, this
is exactly what happens. He or she is really only passionate about writing
contracts and collecting BIG Commissions,
from selling homes and NOT renting them.
No question, Realtors are happy to rent out your home,
BUT there is a big temptation to just
put the first “live body” that comes through the door. It is a lot of work
to market your rental effectively, answer phone calls, and do
checks. Not to mention, all the work servicing your tenants, once they
When you think about it, most Realtors’ long term success is not
based on your rental property performing well. Selling houses is really
what their after.
When you are dealing with someone
like us, we have the same “vested” interests. I want to rent your
home quickly, to a good tenant, because that’s the only way I make money.
Our focus is not selling homes, but managing rental properties (like yours) for
the long haul.
This is what has made us so successful, and it is why 99% of our
property owners remain our clients, year after year.
The end result is you get a property management specialist who
breathes this stuff as their
rather than a typical realtor just managing homes, until sales pick up.
Here Is What We Are Looking For In A GOOD Client And Rental Property:
1) The rental must either be a single
family house or a Newer condo. While we love managing older single
family houses, we would prefer only managing condos built after 1980. We
also do not manage any rentals restricted to people 55 or older.
2) The rental must be in a decent blue
collar or middle class neighborhood (or better). I will consider
a house in a working class neighborhood, but only on a case by case basis.
3) We are looking for property owners with a
reasonable expectation of rent. For example, if you have a house
with a fair market rent of $1,200, but you feel it’s a McMansion and should rent
for $1,800 a month…we probably are not for you.
If you want to find out if your property qualifies to have Stress
Free manage it, fill out our online Property
Owner Inquiry Form in just a moment.
After you submit your application, my assistant, Marci, will call
you within 1 business day (usually sooner) to set-up an appointment to speak
with me on the phone.
By setting up an appointment, we both can
concentrate on your unique situation, so
I can answer all your questions without interruption. Fair enough?
Just to recap, any property owner that uses
our management services receive the following:
1) 67 point “Ready to Rent Checklist” -
This will ensure the property is properly cleaned, painted, and all necessary
repairs are completed PRIOR to putting
the property on the market for rent. As I mentioned before, this is the
number one reason why properties sit vacant for 3 to 7 months, instead of 30
($764 Average Savings By Renting
Your Home Faster)
2) 24/7 Zero Overhead Repair Service –
80% of repairs that may arise will be handled by 1 of our 4 well trained
handyman at a fraction of the cost of hiring your typical repairmen out of the
yellow pages or newspaper. When we need to hire a licensed electrician,
plumber, or AC tech, we have already negotiated extremely low rates by finding
the folks with no overhead, and giving them a ton of repeat business.
($875 Average Repair Savings, Annually
on Each Property)
3) “11 Hour Straight Talk” –
My trained leasing staff answers calls from prospective tenants from 8:00am to
7:00pm Monday-Friday. They even answer the majority of phone calls from
11:00am-7:00pm on the weekends.
($575 Average Savings By Getting A Qualified
Tenant Out To See Your Home Quickly)
4) No Unnecessary Fees –
you DO NOT pay an advertising or set-up/processing fee. You don’t (in
fact) pay us anything up front. We get paid only
after we find you a good tenant and
collect the first month’s rent from them. “Paid for Performance” is
the way it should be.
($300-$800 Value Compared To
5) “Instant Tenant
Attraction” System – Developed after 12 years 2,138 + tenants. This
advertising system generates 5 to 7 times
the amount of tenant calls, compared to traditional rental signs and ads in the
newspaper. Even better, you don’t pay an extra dime for all the extra
advertising we perform to find you a good tenant.od tenant.
These 5 different programs and
guarantees are provided to all of our property management clients. You
can’t find a SINGLE competitor offering this level of service or guarantee,
anywhere in the Tampa Bay area.
If these are the kinds of control you want to have in place…if you
want a property manager to take charge and get the job done, then the next step
is to see if the properties you own are a fit for us. The most effective
and efficient way we found is to fill out our Property Owner Inquiry Form. Form.
I am looking for a property manager to end the headaches and negative cash flow.
I would like to set up a time with you to discuss my property. (Click
Okay, that about does it for this Free Report. I hope you
enjoyed reading it, and learned some valuable insights about the most common
mistakes property owners make.
Owner of Stress Free Property Management
28471 US Hwy 19th North, Suite 508
Clearwater, FL 33761
P.S. - Our Fees: I like to
be upfront with them so you don’t have to guess or wonder.
• 10% of the rent collected
monthly, as a management fee.
• A leasing fee of 50% of the first month's rent, when we rent your
• That’s it. There are no set-up fees, cancellation fees,
advertising fees, or any other hidden fees that are so often
not mentioned, unless
you read the fine print.
• You also receive the benefits of our:
• 67 point “Ready to Rent
• “Instant Tenant Attraction” System
• 24/7 Zero Overhead Repair Service
• “11 Hour Straight Talk” Process
I would like to stop all the headaches and negative cash flow. Let me
complete your Property Owner Inquiry Form now. (Click Here)