by Barker Realty, Inc. | Aug 23, 2022 | Investment Property Blog, Property Management Company, Tips for Landlords, Tips for Property Investors
It can be challenging to find the best property managers in your area. Fortunately, if you know what to look for, then it should be easier for you to find the right person or the right firm to represent your investment properties and your tenants. There are several things you should look for before hiring someone to manage your rental properties in Cary, Apex, Raleigh or throughout the Triangle region.
1. Have a Creative Website
The internet is the first place that people look when they are trying to find a product or service they need. Property management companies should see the importance of having a professional website, like Barker Realty. The website should highlight the benefits of working with the company and understand the value they would bring to you, your tenants and your property. You're on ours now and here's the Owner Services page with loads of information https://barker-inc.com/residential-management-rentals/owner-services/.
2. Use Social Media
Many people also use social media to locate companies to work with and also want to view online reviews, too. LinkedIn and Facebook are some of the websites that you should check out to see how the property management company interacts with their customers, new customers, if they are responding to both negative and positive reviews, and so much more. One of the many great things about checking out a social media page is that you can see what our company does every day with pictures of work, seasonal specials, employee spotlights, and much more to help build trust in doing business with us.
3. Hiring is an Investment
Hiring a professional property management company or individual manager can get expensive. However, like most services, you get what you pay for. You may want to save some money and go with an individual, which is completely fine as long as they are providing you value and are responsive to your need and your tenants. On the other hand, you may need a bigger team with more resources, and that's when a company may be the best fit. Just remember, hiring a property manager is an investment into your overall portfolio. Go with experience. Go with responsiveness and reliability. But, always know they should have your best interests in mind at all times to benefit you and your properties in the long run.
4. Use of Technology
Property management is saturated with new technology from management software, billing, online applications, the list goes on. Consider the technology being used by a property manager or a company as part of your arsenal in delivering a smooth process for your tenants and how you can track the services being provided.
5. What Can Make You Stand Out
Key differentiators are a driving factor in the selection process. There are plenty of capable property managers in the Apex, Cary and Raleigh area and many other larger or growing cities throughout the country. However, what are you looking for that can set you apart as well from the competition? Property investors don't always think about this notion of how can a property management company make your properties stand out from all the rest. Ask these from your property manager when in the hiring process or looking to retain a company's services. You may be surprised and pleased with their responses.
Contact Barker Realty for more information about hiring the best property manager or a reputable property management company who will always keep your best interests in mind.
by Barker Realty, Inc. | Jun 7, 2022 | Property Management Blog, Property Management Company, Property Selection, Tips for Property Investors
There are many people who are interested in investing in rental property as it can be a great financial move for a variety of reasons. Not only can investors make money off of monthly cash flow from the collected rent, but there is also financial benefit in the equity appreciation build-up over time. You are essentially having someone else pay your mortgage and insurance on a piece of property that can retain value or appreciate, especially in the Durham-Triangle market.
At Barker Realty, our property management company highly recommends conducting research before investing in real estate in your area to make sure it will be a great fit for your business or you personally. Talk with others. Talk with experts. Learn as much as you can about how investing in rental property could be a game changer for you and your portfolio. Here are some tips to help you along the way!
Find a Rental Property
The best rental properties are in areas that are growing rapidly. The biggest predictor of future price appreciation in an area is the growth of the population. In addition, a growing population will have many renters who are willing to live in your property.
With the competitive real estate market, it may be difficult to find a rental property that meets your needs. You should look for a property that will produce positive cash flow every month. You need to plan out your expenses with the property and then look at what the home will rent for. Hiring property managers is part of the rental process. These costs need to be accounted for as well.
Financing
Real estate investors need to understand how to use financing options for their benefit. Financing is the best way to purchase a rental property if you do not have the cash to do so. Some real estate investors borrow too much money and get into financial trouble. Instead of doing this, borrow money in a conservative way. This will help you reduce the overall risk that you have in an investment.
Hiring Help
No one wants to answer calls in the middle of the night from tenants. Hiring property managers is the best way to reduce your stress while owning a property. You need to look at online reviews before making a decision on the company that you want to work with. You should work with a company that has quality customer service and support at all hours.
Rental property can help you get to the next level in your finances. However, be realistic with yourself. It’s not easy and it is not a way to get rich quickly, but it will help you build wealth over time when done the right way. With the strong housing market, now is a great time to look for an investment property in your area.
Contact Barker Realty today for more information about investing in real estate, rental properties and overall property management services.
by Barker Realty, Inc. | May 24, 2022 | Cary Investment Property, Cary Property Management, Featured Article, Property Management Blog, Property Management Company
Some real estate investors, particularly new ones, see hiring property managers or a property management company as an unnecessary expense. But, they can actually be a huge benefit to your income.
Here are four important reasons to hire a property management company to oversee your rental property:
1. Set the Best Rent for Your Property
You could spend hours, days, or even weeks scrolling rental listings to try and find comparable properties and the rent they’re getting. But a local real estate management company will have a good handle on the local market and be able to tell you how much to charge to ensure that you not only get quality tenants and low turnover but also get the most income out of your property. Plus, property management companies have access to professional sources such as MLS (multiple listing service).
2. Market, Advertise and Show Your Property
Managing your property alone you can spend hours every week crafting ads, fielding phone calls, text messages and emails about the property, and showing the home to prospective tenants. Unless the rental property is your full-time job, this takes time away from your family, work, and downtime. Property managers do this every day. They have the experience and knowledge to quickly create ads, and it is their full-time job to answer prospective tenant questions and show the home. This frees up your time, and also provides more flexibility to the prospective tenant, as they don’t have to work around your schedule.
3. Manage Vendor Relationships
Plumbers, electricians, appliance repair technicians – at some point, they’re all going to need to come to your rental property to repair or replace something, whether it’s through tenant damage or simple wear and tear. As a real estate investor, you’ll always get the same rate that any other private party would get. A property manager, however, may get a discount because they manage so many properties and can give an extensive amount of work to the vendor. You’ll save money and get high-quality repairs through vetted vendors.
4. Ensure Compliance with Housing Regulations and Property Laws
As a real estate investor, you likely did your research before you started. But the regulations and laws can be exhausting, confusing, constantly changing and hard to read. A property management company will be thoroughly familiar with all the regulations and laws, and they will ensure that you comply with them all.
Give Barker Realty a call today to see how we can help!
![6 Key Traits of Being a Great Property Manager in Raleigh]()
by Barker Realty, Inc. | Mar 8, 2022 | Local Property Management, Property Management Blog, Property Management Company, Raleigh Property Management
We find many people are investing in the real estate sector today, especially in thriving markets like the Raleigh-Durham region of North Carolina. It is a lucrative industry that can have high returns. Just like any other investment needing full attention by professionals who are dedicated to your best interests, real estate requires proper management. Therefore, property owners should always consider the services of rental property managers. These professionals help manage your building or home(s) and rent them out to reliable tenants through a thorough application process like Barker Realty provides.
Getting involved with tenants daily is not an easy task. It requires an experienced manager from a licensed property management company. Our property management services involve the following duties:
- Collecting rents
- Handling issues that affect tenants
- Ensuring that the property is tidy and well-maintained
- Making sure that the landlord’s property is structurally secure
- Taking appropriate actions against tenants who fail to pay rent on time
Therefore, if you want to be relieved from these tasks in order to focus on growing your portfolio further, we recommend hiring a property management company who possess the following traits:
1. Communication Skills
Property management requires excellent communication skills between tenants and property owners or the management staff. Tenants and property owners should be able to reach the manager for non-emergency and emergency issues all the same. Therefore, both written and verbal communication skills are required to maintain a professional demeanor in handling any difficult situation or perhaps simple notifications throughout the management term.
2. People-Oriented
Based on our decades of experience, Barker Realty has learned that people-oriented managers interact with tenants more efficiently. Any property management service provider needs to place quality and competent tenants into residences.
3. Trustworthy and Ethical
An excellent management company is transparent and honest. The property management profession requires trustworthiness, responsiveness, and full disclosure for the owners in how the tenants are being treated and processes are being followed. At Barker Realty, this is what we stand for — to build long-lasting relationships with our clients.
4. Knowledgeable and Experienced
Property managers should be able to interpret financial reports quickly and be able to decipher between a reliable tenant compared to one who may not be the right fit. Additionally, all property managers should be conversant with the latest real estate regulations and property ownership laws. It is recommended to take the appropriate time to perform due diligence and interviews with your prospective managers to also make sure they are a fit for you and your investment portfolio.
5. Marketing Skills
At Barker Realty, we know that marketing of our client’s properties is crucial to the success of the relationship. Your property managers should be good at marketing, including social media advertising and being able to show up online when people are searching for a new place to rent. They should work with local employers and institutions, including universities and hospitals, to provide housing for students and employees and also those relocating to a bustling area like the Raleigh-Triangle.
6. Organized
An organized manager pays keen attention to details and they DO sweat the small stuff to ensure your property is managed properly. Being able to enhance proper maintenance of your property throughout the year, keep paperwork readily available, and check in with tenants are tasks which help your property thrive.
If you own property or are looking to invest in property in the Raleigh area, consider the above in your search for a reputable local property management company like Barker Realty. It’s important to get a knowledgeable and success-oriented team on your side.
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by Barker Realty, Inc. | Dec 7, 2021 | Barker Realty, Company News, Investment Property Blog, Property Management Company
Announcing Updater for Barker Realty, Inc.!
Since the moving process doesn’t end once you’ve signed the lease, we are pleased to offer Updater to all our residents. In case you’re unfamiliar, Updater simplifies the moving process by helping you save time on moving-related tasks.
With your Updater account, you can:
- Purchase renters insurance
- Forward your mail
- Update accounts and subscriptions (such as alumni associations and magazines)
- Connect your utilities
- Find home services in your area (like cable and phone providers)
- Schedule in-home moving estimates
- Browse exclusive move-in offers
- Share digital moving announcements with family and friends
We believe in customer service from start to finish, and offering Updater is one way we will continue to achieve this goal. Learn more about Updater’s features here.
by Barker Realty, Inc. | Jul 6, 2021 | Featured Article, Property Management Blog, Property Management Company, Safety & Security, Tips for Landlords
Managers are some of the most critical team members in any company offering property management services. Just like any other company, safety and security of your team should always be top priority.
The roles assigned to managers, including showing properties and homes to strangers, is somewhat unsafe when you think about it, and property managers are expected to perform their duties as well as take precautions to minimize risks that come with the job.
Below are 10 safety tips that our property managers at Barker Realty follow before going into the field, which we’d like to share with you.
1. Gather Information about the Client
Collecting information before meeting any client is crucial. The info might reveal whether a client poses any threat or has any ill motive towards you or your company. Proper screening of clients can help you collect relevant client information.
2. Meet Clients at the Office
The first meeting with a client should always be at the company offices. You get first impressions and get to judge their character. Collecting information about a potential client including where they work and their current home address will be more comfortable in the office.
3. Be Cautious
Always leave valuables at homes or the workplace. Also, avoid giving too much personal information to your client.
4. Follow Company Financial Policy
Always let clients know the company financial policy. Rent and security deposits should be paid directly to the company’s bank accounts. Also, avoid handling too much cash in front of a client.
5. Be Assertive
If you feel uncomfortable around a client, excuse yourself. Get to a safe place and inform a trusted co-worker. In this business, it’s recommendable that you always trust your instincts.
6. Maintain a Good Relationship with Co-Workers
Always ensure you have someone on standby who knows your schedules for the day. A trusted colleague or your boss may prove very helpful. In case of you don’t return on time, they will know how to locate you.
7. Always Play Safe
Avoid going into basements, attics or closets. Open the door to a room, allow clients to go first as you follow them behind.
8. Let Clients Know Your Schedule
If you have other appointments, let your clients know that other people are expecting you. Show your client how important your job is to you in a friendly way.
9. Use Surveillance Equipment
Install CCTV cameras on your office premises. Cameras will be useful for facial recognition of clients who walk in out of the office premises. Surveillance adds protection the property by identifying threats fast.
10. Attend Training Seminars
Most companies that offer property management services have safety and work conduct seminars. Attend these workshops to improve your knowledge base.
If you have additional questions or looking for an excellent property management service provider, look no further. Request an appointment today with our Apex property managers full of experience and expertise, especially when it comes to remaining safe in the field.
