Our philosophy is to run a “low profile” and low overhead office which allows us to charge a Flat-Rate Management Fee of as little as $95! Screening tenants is one of the keys to successful management, and we excel at it. We have had just about every trick in the book pulled on us in the past, so we seldom get fooled anymore! No one bats 1,000, and if we make an error we step up to the plate and take responsibility for it.
For our owners we always try to maximize their rental income and control their expenses.
Whenever we have a non-paying renter that we may have to evict, unhappy owners always have questions:
“Why won’t they pay?”
“Have you tried getting tough with them?”
“Why did you approve these people in the first place?”
“You didn’t see this coming?”
The loss of a paying tenant is a big disappointment, especially to us at Red Roof Rentals. But more importantly it means the property owner loses money through unpaid rent and possible eviction legal fees.
Can a good property manager prevent renters in your property from “going bad”? To answer that, let’s assume that a tenant was wisely screened and carefully approved to rent. We have found the following to be some of the most common
reasons that problems paying rent arise for tenants in possession:
- Death in the family
- Drug use begun during tenancy
- Relationship problems / Divorce
- Sudden unemployment
- Holiday money mismanagement (esp. Christmas & July 4th)
- Health issues
Obviously, no one can foresee challenges like these that affect someone’s ability to pay their rent. They just happen and are beyond the control of the property manager. Regardless of many years of experience, no manager can eliminate all the risks of renting out your property. However, at Red Roof Rentals we work hard to minimize risks as much as possible for you, the property owner. And when renters “go bad”, Red Roof takes immediate action to either collect all rents due OR to quickly and legally remove the renter from the property. You have placed your valuable rental property into our hands and we take our stewardship of it seriously, doing all that we can to deal wisely with once good renters that have now gone bad.
As part of our goal to be the best, full-service property management company in Pierce County, Red Roof Rentals now offers the convenience of online rental payments.
Renters can use their Credit Card or E-Check to make a payment anytime and from anywhere.
Why Pay Online?
- lt’s Secure – Online payments are more secure than mailing a check!
- lt’s Fast – Online payments post to your rent account immediately!
- lt’s Convenient -View your charges and make payments online anytime and from anywhere!
- lt’s Flexible- You can pay with whatever method best fits your needs!
The Payment Options:
- E-Check – Enter your routing and account number to pull your rent directly from your checking or savings account This service is free of charge!
- Credit Card – Charge your rent to your credit or debit card; earn points or pay over time. There is an online payment fee affiliated with any Credit Card payments.
Renters will be contacted individually with information on setting up and using their tenant portal.
Here at Red Roof Rentals, one of our guiding slogans is this:
“Get it rented to the RIGHT PERSON for the RIGHT PRICE … RIGHT AWAY!“
Selecting the “right person” is a matter of careful screening (to be dealt with in a later blog post) but today I want to focus on just what “the right price” means. What would be fair rent for your home and how is it calculated?
One service a professional property manager can provide for the property owner is to give an estimate of a home’s fair market rental value. Private parties frequently set the wrong rental price on their property, both too high and too low! Both renters and homeowners appreciate a fairly priced rental- it’s a win-win situation that’s good for all!
TOO HIGH- Some owners want to cover their home mortgage payment with the rent and as a result overprice their property. The fact is that there is no connection between what your home payment is and what it should rent for. The rental value is determined by what interested renter’s are willing to pay to rent your home.
TOO LOW – Other owners will set their rents too low. They’ve been renting the house for $700 for the last 10 years and they don’t want to “rock the boat” and lose their renters. Imagine their surprise when we tell them they will make $300 more by hiring Red Roof as their manager, even after paying us our management fee!
JUST RIGHT – At Red Roof we determine an estimated “FAIR RENT” of your home using:
- General knowledge of local rentals based on our 30+ years experience
- Specific knowledge of what WE have been renting similar properties for
- Careful analysis of data available from Craigslist postings of similar homes
For example, we know from our research that many 1,000 square foot homes rent for about $1,095 and most 1,600 square foot homes rent for about $1,395. Adjustments can be made to these price points in consideration of quality level and neighborhood desirability.
Want to know what YOUR home will rent for? Call the professionals at Red Roof Rentals and let our 35 years of real estate experience go to work for you today!