Should you hire

You just bought your first rental property, and you probably have the idea that a rental property is a hassle-free income. To be fair, from the outside looking in, it seems that property owners simply sit back and collect rent and don’t really do any additional work. Managing a property may seem easy, but don’t be fooled. Property management involves much more than just collecting rent. After buying your first rental you will need to decide, should you hire a property manager, or should you self-manage your property?

 

Many property owners don’t want to hire a property management company in order to save a few dollars but self-management comes with its own set of challenges. Property management requires a lot of time and energy. To decide what option is the best, you must be aware of and understand the duties you will be taking on if you decide to self-manage. Here are some of the landlord duties that you will have to embrace:

 

  • Handle maintenance requests / making repairs as needed
  • Finding new tenants 
  • Advertising your property
  • Determining rental rates
  • Preparing the lease
  • Tenant screening
  • Collecting rent
  • Doing preventative maintenance
  • Enforcing the lease
  • Evicting a tenant when necessary
  • Insurance 
  • Taxes 
  • Tenant Turnover 
  • Inspections 

 

 

If you’ve decided to self-manage your rental properties, you must have the right tools and systems in order to be successful. Most people who decide to self-manage don’t understand the laws involved in rental properties. If you decide to self manage, you need to educate yourself on property management to avoid any problems. Here is a list of the basic laws you should know: 

 

  • Eviction rules and procedures
  • The Fair Housing Act
  • Your state’s Landlord-Tenant Act
  • State-required disclosures
  • The implied warranty of habitability
  • The Fair Credit Reporting Act
  • Your state’s security deposit rules
  • Mitigation of damages

 

The Pros of self-managing: 

  • You will have 100% control over your investment
  • You get to save on property management fees
  • You have a bigger say on tenant selection

 

 

Managing a rental property is a full-time job and can be very stressful especially if you own multiple properties. Now if you are willing to invest the time and work needed to be a successful landlord then you can decide to self-manage. But if you don’t want to add more stress to your life, you can hire a property management company. Property managers know and understand the market much better than you. They will handle every aspect of property management. 

 

Selecting the right property manager can make or break your real estate investment. Nowadays there are many property management companies in the real estate market that have no idea what they are doing. It makes it difficult to choose a good property management company. You need to take your time and research for property management companies in your area. Find out if they are licensed, ask for a list of references and ask if they have any certifications or members of any associations such as (NARPM) and (IREM).

 

At CRM Properties, we have the experience, tools, and resources to effectively manage your property and maximize the rental value of your home.

 

Bethan Johnson

Turn Coordinator

Bethan is a Property Manager Assistant. She performs all property inspection and evaluations, creates tenant invoices and oversees disposition of security deposits.

Why choose CRM Properties?

We have the best selection of homes in the Kokomo area. Our staff’s dedication to customer service leads to a swift response to maintenance and tenant questions.

 

What is your screening process?

We verify income with copies of pay stubs and verification from your employer. We check court records for any judgments and criminal activity. We also contact your previous landlords directly for a referral. We will verify that the person we call is actually your landlord.

 

Are pets allowed?

Most homes allow pets. We do have breed and size restrictions. We limit the number of allowed pets and you must provide proof of vaccinations on all pets. We charge an additional $25 per month and $150 additional deposit.

 

How much is the damage deposit?

The damage deposit is equal to one month’s rent. An additional $150 is required for all pets.

 

How long of a lease must I sign?

Our leases are typically one year. During winter months we structure our leases to expire during the spring.

 

How do I pay my rent?

You can pay rent in person with a personal check, cashier’s check or money order. You may set up an e-payment or direct deposit. You may also mail your rent or use our dropbox.

 

What happens if I can’t pay my rent on time?

We do not make arrangements on rent. Rent is due on the 1st of each month. Late fees start on the 5th. If we do not receive rent by the 15th we file an eviction. You may stop the eviction if you pay rent in full prior to the eviction date.

 

How are utilities handled?

Utilities are typically the tenant’s responsibility. Utilities must be transferred into the tenants name prior to signing the lease. If the tenant is responsible for the sanitation bill and fails to pay it, we reserve the right to increase the monthly rent and include sanitation in the rent.

 

What do I do if I have a maintenance request?

Why choose CRM Properties?

 

What do you charge?

 

When do I get paid?

 

How much is the damage deposit?

 

How long will it take to get my property rented?

 

How do you market my property?

 

What is your approval process for tenants?

 

What is the tenant deposit and length of lease?

 

Do you accept pets?

 

What is the eviction process?

Amanda Mendenhall

Leasing Agent

Amanda is our Leasing Agent. She oversees property showings and screens applicants.

Bethany Shoffner

Portfolio Manager

Bethany is one of our Property Managers. She is the single point of contact for owners and oversees the tenant experience.

Hannah Dobbins

Resident Service Coordinator

Julie Mullinax

Operations Manager

Julie is our Operations Manager. She oversees the staff and the day to day operations of our company.

Heather Johnson

Property Manager

Heather is one of our Property Managers. She is the single point of contact for owners and oversees the tenant experience

Jennifer Koenig

Resident Services Coordinator

Jennifer is our Office Assistant. She assists the Property Managers with all property and social media marketing.

Amanda Marshall

Maintenance Coordinator

Theresa Cain-Rush

Property Management Assistant

Darin Olson

Maintenance Manager

Darin is our Maintenance Manager. He investigates maintenance issues and offers suggestions and estimates for repairs.

Lynda Simpson

Bookkeeper

Lynda is our Bookkeeper. She handles all accounts payable and receivables. She also coordinates all owner and tenant billing.

Chris Mullinax

Broker Owner & New Business Development

As President and Owner of CRM Properties Chris helps generate new business and works on making sure the business is compliant with all local, state and national laws and ordinances.

Call us at (765) 459-8034 during business hours.

We guarantee that a team member will be on the other end to answer any questions you may have.

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