Some of you may know, I have decided to launch MyHome Property Management! Owning an investment property can be very difficult, so why should choosing a company to manage be just as hard? MyHome Property Management is changing the game by focusing on PROPER tenant screening and a more personable service to you AND the tenant. I promise you the big companies can't offer that. My purpose for this post is to share what sets MyHome Property Management apart while revealing what is hurting the industry and how I avoid it.
So why did I launch MyHome Property Management? Well, I have been in the industry long enough and have been in different positions to know that there is a lot of good and bad in property management. Luckily for home owners, there is a lot more good, and the bad can be eliminated as long as the company is in the right position to do so. A lot of companies are stuck and not able to make the changes, which gives MyHome the advantage. My vision was to create the best system in the industry, taking what companies are doing wrong and kicking it to the curb, while specializing in those services that are making companies prosper. Many companies out there offer a great service, but I haven't found one yet that offers the "entire package".
What makes a good property management company you ask? All companies will agree that the #1 priority is, of course, their clients (the owner). If that is not #1, a property management company would never thrive. Very few companies will not have their owners as top priority, and they will fail quickly. So then, what is #2? This is where companies differ from one another. Some may say home maintenance, leasing, proper management or technology. The MyHome Property Management #2? The TENANT! Why the tenant? Well I believe the tenant is your #2 investment next to your home structure, so why should that not be ours? The truth is, if you invest in your tenant, you will eliminate the high cost of a turnover and have a higher ROI. If you do not invest in your tenant, well then the opposite occurs. Nasty turns, constant maintenance calls, late rent payments, etc. This means finding the right tenant the first time is highly important, almost just as important as finding the right home to purchase as an investment! That is why we offer a 12 month tenant guarantee. We are that confident our system is the best in the business. Your investment is OUR investment.
Lets talk about our leasing system. Most companies use an instant check that cannot detect current lawsuits or evictions. For all you know the person you just approved just got kicked out of their past rental and put their buddy as their last landlord for a good reference. MyHome Property Management has teamed up with RentPerfect, previously known as ISC (Investigative Screening & Consulting), and use their private investigation skills to dive into the local courts and detect these red flags at no extra cost to you. Of course this cannot eliminate your risk completely, but it does cut out a huge chunk of it. The big guys in the industry don't have time to check this, they have too many leads coming in and don't have enough employees to fill their homes! So what do they do? They choose the cheap way, disregarding your rental and what is best for you. They know that if they fill your home with a bad tenant the worst that can happen is they will get evicted or break their lease early. This ends up costing you more while they make more on a new turn. And to top it all off, what you don't know is they are charging monthly administrative fees on top of the municipal tax, some even taking a percentage of their deposit at the end. This only aggravates your #2 investment more which then hurts your #1 investment because they trash it.
Do you know the highest expense for your investment? A turn! We specialize in finding that long term tenant PROPERLY. I cannot tell you how many companies out there prosper on your turn. They are not just making another commission on your lease, but most companies have a kick back or an interest in the maintenance company they are pushing you to use so they can profit even more. It's smart for the companies and it's not illegal, but can they honestly say they have your best interest when they are hiding these facts from you when you sign up? That's not the MyHome way.
Your home is our home, and together we make it the tenant's home. Our vision is to make all parties involved in your rental successful. This can be done without having to lower customer service standards and treating tenants poorly. We believe in treating the tenants like people too, while being aggressive with rent collection and setting them up to succeed at the end of their lease and move out. We have created the tools that are needed to set all up for success, while making it a privilege to lease out your home. I am confident you will not find a more personable service, I guarantee it. Those involved on the MyHome Team are excited for the future and to assist in your rental.