What Are The Typical Property Management Services In Nashville?
And so, I’m going to cover several…I’ve got notes here, and I don’t know, I probably have 10 different things I’m going to walk through real quick.
But these are the typical property management services in Nashville.
Typical property management services, we get a lot of calls from homeowners who are potentially doing this for the very first time.
Hey, I might want to rent my house. Maybe I can’t sell it. Maybe I just want to hold on to it.
I don’t want to sell it right now because I think it’s gonna increase in value,” or, “I have a paid-off house. I’d like the income.
Maybe I’d like to use the equity in that rental house to go buy more rental houses.”
What Is The Process?
You want to build a portfolio, whatever reason it is, we get calls all the time from owners and they’re asking us, you know, what is the process and what are the typical services that you provide?
So, what I’m going to do is I’m going to walk through our standard property management services that we give to everybody.
We actually have three different plans and they…like two of them are very similar, but then we have one that’s increased in services.
So, I’ll save that one for a different time. What I’m gonna talk about are just the basic property management services you can expect in a Nashville property manager.
Number One, You Can Expect Them To, A Property Manager, A Nashville Property Manager, To Market Your Home.
So, more than likely, initially, they’re gonna come out and do a walkthrough of the entire property, and they’re trying to ascertain, is the house rent-ready or does it need a little bit of work?
And so, sometimes that’s just the case, we can walk through a house and we can typically determine, hey, this is a necessary repair, we call it required repair, or this is just maybe some cosmetic stuff that we would suggest.
So, We Have Required Repairs And We Have Recommended Repairs.
Recommended repair might be, hey, you’re…you have a child’s bedroom and it’s painted pink or purple.
We would suggest you paint it a neutral color. You don’t have to. A required repair typically has to do with the health and safety of a tenant.
Maybe you have downstairs and you don’t have a railing on the stairs going down to the basement, we would require you to put railing on that down the stairs.
We’re Going To Come Out!
So, really to market the property we’re going to come out, we’re going to do a walkthrough of the property.
And then the sort…the real service really is getting that house on the market rent-ready for all the marketing.
The Second Thing That A Nashville Property Manager Is Gonna Do For You Is They’re Going To Show The House. (What Are The Typical Property Management Services In Nashville?)
So, they’re gonna either schedule showings on their website or they’re gonna provide some access, some way to get a prospective tenant inside the home.
We did this both ways in Nashville. We will schedule appointments with people and walk them through the house, talk to them about it.
But we also sometimes give tenants the opportunity to go view a house at their convenience.
Maybe They Can’t Do It During Work!
So, if they’re interested and they want to do it, maybe they can’t do it during work, but they can do it right after work hours or whatever, then they can schedule that.
They can, you know, fill out some information, you know, verify their identity, get a code to the property and walk through the property and look at it.
And then we would follow up. We follow up with them just to see, you know, what their thoughts are about the property and if we can answer any kind of questions. So, marketing, showing.
And Then What Typically Happens After That, The Third…The Third Service That We Provides Or That Of A Nashville Property Manager’s Going To Provide Is Just Tenant Screening.
So we’re most definitely going to screen the tenants. We’re gonna walk them through the process. And it really depends on which property manager you’re looking at.
We probably have different gauges for finding the perfect tenant. I know for us at gkhouses, we do all of our underwriting or screening in-house. And we do it here.
So, we are looking at a TransUnion ResidentScore, which it takes into account credit.
It takes into account evictions and a lot of other data. But then we also are looking at their income as it relates to how much we’re asking in rent.
Then we also do criminal background checks. So, that’s another service that a property manager, a Nashville property manager is going to do for you.
Once We Find A Good Tenant!
So then after that, it’s getting a lease signed. So, once we find the good tenant, then we’re going to get them to sign that lease.
And any, you know, trusted and respected property manager in Nashville is going to have a really strong lease.
So, getting them to sign that lease, typically going to be a year-long, 12 months, and then the opportunity to renew at the end of that 12 months.
That’s another service that a Nashville property manager will provide for you.
The Fifth Service That A Nashville Property Manager Is Going To Provide Is Just Rent Collection. (What Are The Typical Property Management Services In Nashville?)
Though, you know, now, in these days, we want to make it as easy as possible.
A lot of electronic fund transfers or paying rent online, we wanna make it super easy for tenants just to pay, have it automatically drafted out of their bank account.
And then so they’re going to collect…so we’re going to collect that rent for you.
So, that’s obviously something that’s extremely important to you.
And then next is really that rent disbursement.
So, getting those funds to you is a really…a big part of the service and part of, you know, what a typical property manager will do for you.
And so, we, like for gkhouses, what we do is we payout on the second Friday of every month.
So, we send you…not only we electronically disburse funds into your bank account, but we’re also sending you an owner statement.
A Great Record-Keeping, Accounting!
That is another service that a…a typical service that a Nashville property manager will provide is they will give you a great record-keeping, accounting of what’s going on with your rental house.
So, this is going to include rent collected, and it also may include any kind of maintenance items that have gone on in the house during that 30 day period, during that month.
And so, just record keeping is a really important thing, especially when you think about taxes at the end of the year, and what you need to account for.
That’s another service that a property manager, a Nashville property manager will provide for you.
And Speaking Of Maintenance, Another Service That A Property Manager Will Provide For You Is Just Going To Be Work Order Management.
So, this means that if you have a house, we all know things break, they just do, or something happens with the house.
Now, from an owner’s perspective, what’s really interesting is that a lot of times as owners we’ll just kind of overlook something.
Like, I know I do that and my wife will say, “Hey, you need to fix XYZ,” and I say, “Okay, I’ll get around to that.”
And then, you know, I might put it off for a couple of weeks or three weeks or whatever. I can put it off however long I wanted to if it wasn’t a serious issue.
Tenants Don’t Think That Way!
Tenants don’t think that way. If something happens at a house and they’re paying rent, they’re absolutely going to submit a work order.
They’re going to do that either by calling the company, which they can call us, or they will fill it out online and say, I need somebody come out and fix this.
So, that is something else that a Nashville property manager is going to do for you, is just manage that, find out what’s wrong, you know, go take a look at the problem and just determine what needs to be done.
There Are Some Simple Fixes!
There are some simple, simple fixes like, hey, the toilet’s leaking, you know, whatever.
So, we send a plumber out and we take care of it. Or there’s more complicated matters.
Well, we’ve got, you know, waterline broke to the sewer. So, that’s gonna be a bigger issue.
And we need to figure out how to fix that. And so, you want somebody, if you’re hiring a property manager, you want somebody who’s going to take care of all that and then like, bring you in the loop when it’s needed.
Another Typical Property Management Service In Nashville That You’ll Find Here Is Just Preventative Care.
So, this could typically…can come in the form of maybe an inspection or inspections.
It just really depends on what the property manager offers. I know that we do initial walks, for gkhouses, we do initial walks.
And then we have the ability to do quarterly walks for the owner through the property.
So, that can reveal some things that need to be taken care of, maybe some preventative care.
Heating And Air Preventative Maintenance!
I know that for our company, we also offer heating and air preventative maintenance, just like in the fall and in the spring to make sure it’s ready for the summer, ready for the winter.
So, those are some things that you’re going to want a property manager to take care of.
Maybe gutter cleaning is one of those things that will keep a house from…you know, if you don’t clean your gutters and the water starts to leak in your soffit and in your eaves, then you’ve got a lot more expensive issue to fix than having the gutters cleaned.
So, Those Types Of Things Are Really Helpful.
Like I mentioned, an inspection can reveal something inside the house that needs to be taken care of.
One thing that we know, one thing that we like about inspections is we make that an opportunity to change the air filter, and then check batteries and smoke detectors because I know it’s hard for me to remember to change my air filter in my house. Tenants don’t do it.
Like They Do Not Change The Air Filters.
And so, preventative care for your home is really important and that’s just another service that most Nashville property managers will probably offer you.
Then Lastly, Number 10, I Would Say Is That A Good Nashville Property Manager Is Going To Offer You Just Some Very Objective Advice.
So, that’s really what you’re looking for. You want a manager who’s been in the market, who knows the market, understands the market and who can give you some advice, help guide you.
You know, they’re going to be the expert. They’re gonna be the one that you look for.
And if you’re trying to even build a rental portfolio, they can actually help you, kind of guide you along the way.
The Other Important Things Are:
“Look in these areas.” “Don’t look in this area.” “How much can I get for rent if I bought this house?” Those types of things.
“What should I do about this situation in the house?” “Should I fix this?” “Should I not fix this?”
What’s the Tenant’s Responsibility? What’s Your Responsibility?
And so you need somebody that is going to give you some very frank and honest feedback, very transparent feedback.
A really good Nashville property manager will absolutely do that.
So, that type of advice can help you, and can really make the difference in your landlord experience and owning a rental property.
So, I hope those things have helped. These are just 10 typical property management services in Nashville.
And if you ever wanna talk to us about our services, feel free to give us a call. You can reach us, 615-925-3880, extension 3. Thanks so much.