HAVE BEEN MANAGING YOUR RENTALS YOURSELF?
ARE YOU STILL DEALING WITH TENANTS YOURSELF?
ARE YOU STRUGGLING TO FIND CONSISTENT AND RELIABLE CONTRACTORS TO MAINTAIN YOUR INVESTMENT PORTFOLIO?
ARE YOU DEALING WITH EVICTIONS AND THE NEVER SENDING SEARCH TO FIND QUALITY TENANTS?
HOW ABOUT THE BOOK KEEPING?
DO YOU FIND IT A CHALLENGE TO KEEP ALL OF THE RENTS AND ACCOUNTS IN LINE?
Look these questions only scratch the SURFACE of the hassles and headaches you face when trying to manage your own rental property.
With the RIGHT PROPERTY MANAGEMENT company you could turn the keys over to someone else and enjoy the REAL benefit to real estate which is PASSIVE Income.
Everyone pretty much knows this. That’s why I’m not going to go into the benefits of why you need a property management company.
Instead, What I am going to do is really dig deep into the real reason why you are probably not using a property management company right now.
If you are an investor but you are still managing your own property then here are the reasons you may be doing so….
Reason # 1: You can’t afford it and thus have to put in the sweat equity
Reason #2 You have a HUGE number of units and have several systems in place to management them already yourself.
Reason #3 You are uncertain about turning over control to a property management company, have heard bad stories of doing so, or even worse had a bad experience yourself!
With Reason #1 you should call me!!
We work with a number of budgets and investors to help them make their investments work for them and not the other way around.
With Reason #2, I probably can’t help you to much.
If you already have a good system in place then I may not be the solution for you.
Now, lets talk about Reason #3.
I’ve got something to work with here. If this is you I’m going to be brutally honest about my industry and the top 4 problems that you will have with most typical property management companies.
These are the problems that are most likely holding you back from loosening the chains of your rental property and letting a property management company carry the load for you.
After each problem, I’m going to share the solutions that I have developed over my years in this business.
HERE ARE THE TOP 4 PROBLEMS THAT WILL CAUSE MOST TYPICAL PROPERTY MANAGEMENT COMPANIES TO FAIL YOU!!
Problem #1: With most “Typical” Property Management Companies Communication is not consistent
There is a lack of updates. When you try to call you never know who you might be talking too. There is no rhyme or reason to when they might contact you. If they do contact you its usually in an emergency situation.
This will leave you feeling frustrated because you are blind and uncertain what is going on with your properties plus there is not a stable point of contact. When you do see them calling, texting, or email you the dread fills you because you know its probably bad news.
The Shane Wilson Solution
I keep communication simple. You have only 1 point of contact. Me. That’s it. If you can’t reach me right away I make a commitment to call you back within 2 hours if your call was between 9 am to 8 pm. If its after those times and its a non-emergency I will call back between 9 am to 8 pm the next day. The same with email or text. I promise to respond.
That’s my guarantee to you.
For Owner Updates you will receive a MONTHLY update via email. And this will be a personalized update. This is not just an automated report.
However, that’s just the standard update you receive from me. In addition, You also have 24/7 access to my online management system. You can see EVERYTHING going on related to your units. Cashflow numbers, maintanence request, reports, and more are all at your finger tips.
If you are the type of owner who wants to be completely hands off then the monthly update and online access may be enough.
Personally, I am an information junkie who tracks EVERYTHING and I love to go OVER and BEYOND when reporting and taking care of your properties. If you are the same you may want more communication and updates than even the online system can offer. I have you covered there.
When I meet with you you will have several choices as to how much and how often you would like to be updated. Do you want weekly updates on past due(s) and eviction status updates? I can make that happen. Do you want quarterly inspection reports and photographs of your complex or units? I can do it.
Every owner and property is different. What I can promise is that you will never feel left out of the loop or a loss of control. We are a partnership when I manage your properties.
I UNDERSTAND COMMUNICATION IS THE KEY TO THAT PARTNERSHIP
Problem #2: Most “Typical” Property Management Companies Have a Lack of Rules, Discipline, Procedures, and Systems
This is a big one. How many property managers are wildly unpredictable? How many companies lack strong operating procedures or rules? These companies just end up just winging it putting out fires each day barely keeping up. The more units they get the further behind they get. Rents fall behind, mistakes are made, and soon you are in a mess because of someone else mismanaging your property. Has your previous property manager ever let tenants fall months and months behind because they tried to “help” them out and work with them?
The Shane Wilson Solution
Property management is a business and businesses survive only through structure, rules, and operating procedures. To manage a large volume of units you have to have strict rules and procedures. If you start making exceptions of one person or another person you lose the integrity of your company. Not only that you have to keep up and manage all the deviations from your normal procedure. This results in waste time and inefficient use of resources.
My company has firm rules in place for each the units and complexes we manage. If they are not adhered to I am not going to bend the rules, waste time, or let policies go unenforced. You hired me to manage the property and to maintain order. Our rules, operating procedures and any special enforcement policies we work out with you will be strictly enforced on the properties that we manage for you.
This is the primary reason why we almost always maintain nearly full occupancy, keep a low turnover, and a high cash flow for our owners coming each month.
Problem #3: Most “Typical” Property Management Companies Have Lax Rental Screening Processes Resulting In Higher Turnover, Loss of Rents, and Eviction Fees
One of the most important duties of a property management company is proper resident screening. When this goes wrong its going to hit your pocket book hard. You’ll not only lose money from lack of rents you will probably be out lease fees, eviction fees, cleaning fees, and maintenance repairs/fees for any damage the poorly chosen tenant may have caused.
So the question is why wouldn’t these companies take the time to get the process right? Well because they are losing money the longer they wait to acquire a new tenant and if it does go wrong? Well, they are collecting money throughout the whole process! It is actually profitable to have bad tenants for some of these companies.
The other reason is these companies do not have a structure or screening process in place to select the right tenants. They go with whoever fills out the first application. This is a terrible process but unfortunately is more common then you may think!
The Shane Wilson Solution
I recognize that each property will have different standards. I put the power of how strict you want us to be in selecting tenants into your hands. I have a 3 tiered system for how selective you want me to be in selecting tenants that I will cover with you in the onboarding process.
Look, having rental units mean that having evictions or nonpaying residents will happen from time to time. But if this is the norm and not the exception there is an issue on the screening end that needs to be address.
I work very hard to find residents who want to make your rental unit a true home, that have the means to pay, and have qualified for your unit based on our application scoring system.
Problem #4: Most “Typical” Property Management Companies Take On More Business Then They Can Properly Handle
Most typical management companies will take on EVERY CLIENT AT ANYTIME. Who doesn’t love more business right? The problem is taking on more clients without the proper systems and setup in place will lead to disaster!
Property management is an INTENSIVE TIME CONSUMING BUSINESS. Taking on more clients then a company can handle leads to poor customer service, errors, and mistakes that cost YOU as the owner MONEY.
The Shane Wilson Solution
There is a reason I have kept my unit count low and avoided openly advertising for new customers until recently. I enjoy providing superior service and going above and beyond what you would normally expect from a property management company.
Right now, I’ve calculated I can take on an additional 50-75 units and still maintain the standard of service I pride myself on for my clients.
Once I hit somewhere between 50-75 additional units the marketing stops and I am not taking on anymore units! If you see this page is still up then we are still taking on new clients but once our goal is met this page will come down, the mailers stop, and the ads online cease!
Taking on new business is great but I will NOT do so at the expense of my current clients. You as my client come first and when you become my client you become family to our team. I take care of our client family first before others.
Who is Shane Wilson?
I’ve been involved in Real Estate for over 16 years now.
I co-founded and built 2 of the local property management companies in the area.
I have experience in managing over 400 units at one time.
I’m an investor who has flipped, owned, managed, or transacted millions of dollars in Real Estate during my career.
In addition to being the Broker for Shane Wilson Real Estate LLC, I’m an Associate Broker in Georgia & Tennessee for RE/MAX Select Realty with hundreds of retail sales under my belt averaging approximately 8 million per year with a full team. This makes me a top producer in the office.
I’ve produced 3 Real Estate Investing DVD Courses. I’ve Spoken at Various REIA Groups, Seminars and Events on Property Management.
Bottom Line: I’m not some random agent who took a test and decided to become a property manager!
Which brings me to the MOST IMPORTANT point you need to be looking for in a property manager.
Whoever manages your rentals please make sure that they themselves have OWNED or currently OWN their own personal rental properties.
How can you expect someone to take care of your property as if it was their own if they have never owned or invested in real estate themselves?
But as I said before. I have a cap on the number of new units I am bringing into my system. I am only looking for an additional 50 to 75 units at this point. Once I hit those levels I am shutting the doors closed to new clients .
If you ever have considered letting a property manager come in and help manage your investments then its time to reach out to me. Schedule a free consultation and let me help you make your real estate investment work FOR you instead of YOU working for it.