Common Mistakes You Can Make When You Self-Manage
As an investor, we know that the goal is for you to love your property management company! We often find that self-managing can diminish the love for your investment property. Self-managing can often lead to unexpected setbacks and stress.
If you want to love your investment property, having Oak Trust Properties as your property management company can solve this problem! Mistakes often occur when individuals are self-managing. Mistakes that our processes and team of experts work day in and day out to avoid.
Today our Director of New Business and Marketing, Keith Harmon is giving you the inside scoop about three mistakes you can make without having a property management company.
One of the goals is to get your investment property rented. Although if you are self-managing, this does not mean you can skip an intensive resident screening. Not completing a proper resident screening can result in more late payments, damage to your property, evictions, and high turnaround. All of these items result in more stress, time lost, and higher bills than you anticipated. When Oak Trust manages your property, you do not need not to worry about screening any prospective tenants.
At Oak Trust, we complete a five-point screening system. Our five-point screening system includes a background, employer, eviction, rental history, and credit check. We complete an intensive employer check on applicants to ensure that they are working where their application and pay stubs claim. Unfortunately, we have seen many fake pay stubs, offer letters, and even bank statements. Luckily, our five-point screening system prevents the above issues from occurring.
Licensed and Insured Vendors
It is essential that you hire qualified vendors for your property’s projects and work orders. We know there is a trend right now to Do It Yourself, but our records show that this technique adds more time, stress, and damage to your property. Licensed and insured vendors ensure that the quality of the work done adds value to your property.
Our property managers work hard to complete work orders in a timely fashion. Our team keeps your investment protected, and your residents are happy. Using our list of licensed and insured vendors helps us to do this!
Of course, there is a level of risk and liability in all investment properties. Oak Trust Properties has a ton of standard operating procedures to ensure that your property is in good hands and protected. Our policies and producers have been created and made by a team of experts. We work to achieve efficiency and quality work while reducing miscommunication.
Check out this video to see just one example of how Oak Trust works to keep your property protected.
We want all of our investors to love their decision to allow Oak Trust Properties to manage their properties. Check out our Google reviews for more insight on why our owners love their relationship with our team.
If you’re interested in learning more about property management and our specific performance guarantees that we can provide for you, contact our team at (843)-804-9991.