- Are you:
Frustrated Dealing With Tenants?
- Being overcharged by Handymen, Plumbers, and Electricians?
- Current Property Management Co. Not Able to Find You Tenants?
As a rental property owner aren't the above three questions your major source of aggravation and lost income?
Typically, it takes us 2 to 4 weeks to rent your house or condo to a fully qualified tenant. If a property does not rent in one month there is a problem that must be fixed, and we have never found an exception. Onyx Management Group Property Management answers all 3 questions in a simple manner just below...
Here Are 6 Things We Do As Your Onyx Management Property Manager That Saves You Money and Drives Our Competition Crazy!
1. You are Never Charged Set-up Fees
Would you believe that most property management companies charge $250-$500 simply to set up your rental property in their system? I don't care what kind of property management software a company is using, it only takes 5 minutes to put your property in the computer. We are not going to charge you for this.
2. You DO NOT pay us if Your Onyx Management Rental Property is Vacant
This one isn't as common but I know half a dozen management companies that actually charge you money when the house is not rented. We get paid when the property is rented and you are making money and not before.
3. If Your Onyx Management Rental Doesn't Rent Within 2 weeks, We Take Additional Steps Immediately
There are all kinds of reasons why a property remains vacant. If the property doesn't rent in 1 month, there is at least one thing wrong that must be fixed. I have never found an exception.
Perhaps the rent is a bit too high or the property wasn't as clean as we were led to believe. Sometimes, something goes wrong in or outside the rental after we turn it. One month, there was a dead cat in the driveway of a house. Sure enough, once we removed the dearly departed, the house rented within 2 weeks.
At the two week mark of the rental process, Onyx Management Group starts interviewing prospective tenants to find out why they didn't like the rental property. This feedback is immensely valuable. If we constantly hear the rent is too high than we can talk with you and make an adjustment. Or perhaps, we are not getting any calls whatsoever which often means the same thing.
Sometimes, the house just needs to be re-cleaned and perhaps one or two things need to be fixed. For instance, we had a house that sat vacant for several weeks and we drove out to look at it again. It turned out that because of a hard rain, the roof started leaking and there was a very large wet spot in the ceiling.
4. We are Real Estate Investors and Not Realtors Looking to Sell a Home
We understand that the buck stops with us. Creative solutions and flexibility are essential to get your Onyx Management property rented. Therefore in regards to Onyx Management Group, we have created dozens of ways to develop prospects for your rental property that have been tried and tested on our own rental properties.
For example, did you know that your best referral sources for a new tenant are people who live in a 10 block radius of your house? The typical rental sign by another property management company states, "For Rent" and a phone number.
We have learned that by including the number of bedrooms and baths, rent amount, deposit amount, and highlights about what is great about the house that 4 times as many people call on the sign in the yard.
Now, people in the neighborhood know exactly what type of rental you have available and at what price. This makes it very easy for them to pick-up the phone and call their friend who happens to be looking for this type of 3 bed/2 bath or 2 bed/1 bath home. It makes sense when you think about, doesn't it?
We have found dozens of these types of techniques that greatly increase how fast we rent a home or greatly decrease the cost of maintenance.
5. We actually have our own rental properties!
Therefore we have a vested interest to get off our butts and negotiate the best rates for you for electricians, AC Repair, plumbers, roofers, etc. This is a total win/win. We get better rates because these repairmen work not only on our rental properties but other properties owned by clients like you. This means volume discounts.
Sure other property management companies can negotiate low rates with vendors as well. What incentive do they have to make sure those rates stay low? We have got to meet our mortgage payments on our rental properties just like you. Believe me, we pay extremely close attention to costs.
For example, we have an outstanding electrician that charges $30 an hour and no mark-up on parts. Typical electrician charge $85-$130 an hour and have at least a 300% mark-up in parts. We buy the parts on our own account and save you that money. This type of relationship and pricing exists for all of our outside vendors.
6. If you are not happy, you can fire us with 30 days' notice without paying penalties of any kind.
Ensuring You Receive a Quality Tenant
One of the most important things we do regarding Onyx Management Group is placing the proper tenant into your unit. This is accomplished by a thorough background check which includes, but is not limited to the following:
A thorough search for any evictions or money owned to a previous landlord - If they haven't paid a previous landlord, they will obviously not hesitate to find other reasons to not pay you
Criminal search for any felonies - we typically turn down all applicants with felonies less than 5 years old. With the more expensive rentals, all applicants with criminal history are turned down FDLE sexual predators search
Credit check - We are obviously looking for good credit history but make allowances for medical bills, divorce, etc.
Rental check - you would be surprised what a previous landlord will say or not say
Cross reference addresses from application against credit report
Social Security Number verification
Approval of Tenant and Lease Signing by the Property Manager
Once we approve a tenant, we move swiftly to get the lease signed and a security deposit collected. I have learned the hard way in Onyx Management Group that a prospective tenant could find another rental the same day they are approved in my rental. Therefore, we meet a new tenant at the property or our office the same day we approve them if at all possible.
We are competing against a host of other property managers and must move extremely quickly. Most of our competitors have no sense of urgency for getting the lease signed today. This can cost you a great deal of money by having your place sit vacant longer because no one got the deal closed when the prospect was hot.
Collecting the Rent and Getting You the Money
We make it very easy for your tenants to pay us the rent. Also, the rent is due on the 1st and late on the 5th at 5:00pm. Depending on the owner's preference and type of rental, we may require all tenants to pay by money order. If a tenant bounces a check, they pay by money order for the remainder of their stay.
Property Maintenance - Available 7 Days a Week, 24 Hours a Day
We move very quickly at Onyx Management Group to deal with maintenance requests. Your days of answering a frantic call from a tenant with a broken AC are over. Our maintenance vendors are extremely capable and fairly priced. Because we give them so much business and pay them quickly, you receive fast service and low prices.
Most of our vendors really appreciate the steady business from our company so when we need them to move quickly and fix an AC, toilet, or leaking pipe they are usually on the ball. However, we always have at least 2 back-up vendors to call in case our primary source is sick, out of town, or booked solid.
As you know, maintenance requests or emergencies are a huge headache for your normal landlord. By using an expert in Onyx Management Group, you unload those late night calls to us and we take care of it. We also require all of our vendors to submit an inspection sheet of the rental. Therefore, we make darn sure the tenant is taking care of your house or condo as agreed.