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| A quick reference for residential investors from WILMOTH Group. Providing creative solutions, strategy, services and support in the residential investment community since 1994. |
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How Reserves Play A Crucial Role In Property Management |
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| I recently received an email from a prospective new client. The property owner asked about reserves and the concept of reserves. It appeared that he had a bad experience on this issue. Here is part of the message.
“What sort of issues are customarily allowed to be charged against the reserves? The reason I ask is a concern that it is common for a property management company to address any maintenance issue under ($x) without the consent of the owner. While I understand maintenance is essential, there is no protection for the owner that the management company will not take advantage and make unnecessary alterations. Payment is then forced on the owner by simply deducting against their reserves.”
This is a really great question. When hiring a manager, you certainly deserve to know how the reserves will be utilized.
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Why WILMOTH?
24-7 Home Protection
Tenants are provided a toll free number to call in case of any after-hours emergencies. This number is answered by trained property managers with detailed instructions as to how to service all tenant emergencies. Learn More
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Did You Know?Sell With WILMOTH
Since 1996 WILMOTH has been utilizing unique, creative, ways to sell residential real estate investment property. Our investment experience provides for the best exposure and fastest sales of residential properties! Learn More |
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| Can You Help Us?
Social media reviews are an equal access opportunity. Tenants love to write poor reviews of property managers. Owners are busy with their investments and lives. We understand that stopping to give your Property Manager a great review is pretty low on your priority list.
If you appreciate what WILMOTH does for you, we need your 5-star review on Google. We currently have a 3.7 star rating for the reasons mentioned. Do you think we deserve better?
It will just take 30 seconds to help us out. Please click the purple button below to get started.
PLEASE and THANK YOU!!
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| Questions? Own a property that is just not performing? Ready to increase your portfolio? Or just want to discuss anything? Let us know and we will get right back to you! |
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