FAQs for Prospective Investors
Brought to you by Advantage Asset Management – A Houston Property Management Company
Q: What are your monthly fees?
A: We offer competitive rates. A decent rule of thumb is 8.0% of the rental price, but this might be adjusted depending on the initial circumstances and scope of work/service required. Most property management companies also charge an incremental fee for any service work performed at the property, usually as 10% – 20% percent of the invoiced amount. We have an in-house maintenance staff that performs over 80% of the work orders, and we charge no fee if our staff does the maintenance work.
A: We offer competitive rates. A decent rule of thumb is 8.0% of the rental price, but this might be adjusted depending on the initial circumstances and scope of work/service required. Most property management companies also charge an incremental fee for any service work performed at the property, usually as 10% – 20% percent of the invoiced amount. We have an in-house maintenance staff that performs over 80% of the work orders, and we charge no fee if our staff does the maintenance work.
Q: Do you charge a fee to rent the property?
A: Yes, we charge the industry standard of 1 month’s rent for any property we list and lease out. Our company actually only keeps half of that amount typically because the Realtor that represents the tenant moving into the home will also take half. Giving 50% of 1 month’s rent incentivizes other Realtors to bring quality prospective tenants to view the property. The 50% that AAM keeps goes towards reimbursing typical listing costs such as getting listing pictures, paying fees to list on HAR and other websites, boosting the property on social media such as Facebook, and doing the paperwork associated with leases
.Q: What services do you offer?
A: At our core we offer property management services for single family, multifamily, condos, and apartments. We do offer HOA services, and because we have licensed Realtors on staff, we do list properties for sale. However, we focus on selling homes for our property management clients vs chasing new sales listings. We also offer maintenance services to our client base at discounted rates compared to the market. In certain circumstances, we have offered custom solutions to fit the owner’s needs, so let us know what you’re thinking. We will only offer the custom service if we can provide you with quality service.
A: At our core we offer property management services for single family, multifamily, condos, and apartments. We do offer HOA services, and because we have licensed Realtors on staff, we do list properties for sale. However, we focus on selling homes for our property management clients vs chasing new sales listings. We also offer maintenance services to our client base at discounted rates compared to the market. In certain circumstances, we have offered custom solutions to fit the owner’s needs, so let us know what you’re thinking. We will only offer the custom service if we can provide you with quality service.
Q: What sets you apart from other property management companies?
A: We entered this business with a focus on improving customer service. We want to be a partner to our investors, and we want our investors to look at us as a value-add to their portfolio. We are always looking for ways to add value–whether that means partnering with companies to provide lower costs or just being responsive to our clients, we want to make sure you have a positive experience. We also provide much more of our services in house than typical property managers. On staff we have licensed Realtors, a licensed attorney, a maintenance staff, and over 70 years of collective real estate and property management experience. Charlie Roseland, the President of AAM, got into the business after receiving his MBA from Rice. There is another article he wrote about why he got into property management that you can check out under the articles section of the website.
A: We entered this business with a focus on improving customer service. We want to be a partner to our investors, and we want our investors to look at us as a value-add to their portfolio. We are always looking for ways to add value–whether that means partnering with companies to provide lower costs or just being responsive to our clients, we want to make sure you have a positive experience. We also provide much more of our services in house than typical property managers. On staff we have licensed Realtors, a licensed attorney, a maintenance staff, and over 70 years of collective real estate and property management experience. Charlie Roseland, the President of AAM, got into the business after receiving his MBA from Rice. There is another article he wrote about why he got into property management that you can check out under the articles section of the website.
Q: How will you communicate with me?
A: That depends on how you like to be communicated with. We have clients who like email, others that like phone calls, and others that want text messages. Let us know what works for you.
A: That depends on how you like to be communicated with. We have clients who like email, others that like phone calls, and others that want text messages. Let us know what works for you.
Q: How do I get details about my property and financials?
A: We have an online portal on our website that will let you see all the details you need. You can access it as often as you like. We also send out a profit and loss statement and 1099 to all owners after the end of the year for tax filing purposes.
A: We have an online portal on our website that will let you see all the details you need. You can access it as often as you like. We also send out a profit and loss statement and 1099 to all owners after the end of the year for tax filing purposes.
Q: How do you screen tenants?
A: The first step of the tenant screening process takes place with the homeowner deciding what he or she will allow in the property. Are pets ok? If pets are allowed, are they limited to a certain size? Are there other considerations the homeowner wants to bring up to prospective tenants? From there, we will market the property appropriately to the target tenant segment. Once a prospective tenant expresses interest, we have them fill out an application online that we then send out for a hard credit check, criminal background check, and eviction history check. We also go an additional step and call the previous landlord listed, as sometimes problems do not always surface on paper.
Q: Will you evict a tenant if needed?
A: Unfortunately no matter how thorough we are on the front end with tenants, circumstances arise that cause tenants not to pay rent in a timely fashion. We never like to do it, but we require consistent timely payments from our tenants and tenants that follow the rules laid out in the lease. If those are not occurring, we will take eviction steps. Our experience and thorough processes typically enable us to evict a tenant within 30 days of starting the process.
Q: If I decided to sell would you be able to help me?
A: Yes, we have multiple realtors on staff who can help you. We can sell it, or we can dual list to rent or sell and see what happens first. Plenty of options.
A: Yes, we have multiple realtors on staff who can help you. We can sell it, or we can dual list to rent or sell and see what happens first. Plenty of options.
Q: Can you advise me on various strategies to grow my portfolio?
A: We have experience working with many different strategies in real estate, and we would be happy to give you some advice. That said, depending on the situation and details we would advise speaking to your CPA or investment advisor professional on the specific impact.
A: We have experience working with many different strategies in real estate, and we would be happy to give you some advice. That said, depending on the situation and details we would advise speaking to your CPA or investment advisor professional on the specific impact.
Q: Can I use your maintenance services on my personal home at the discounted rates?
A: Yes, as a customer of ours, we extend the benefit to properties under management as well as personal residence of our clients.
A: Yes, as a customer of ours, we extend the benefit to properties under management as well as personal residence of our clients.
