Property management is a big deal. Finding a good property management company in the Tampa area is an even bigger deal. And to a lot of people, it can seem difficult to navigate. There is a lot of information about property management floating around on the internet and it can be hard to find the truth among a sea of bad information. This blog will answer some of the most common questions we get via an interview with Tampa property management expert Dave Sigler of Vintage Real Estate.
We asked Dave to answer your burning questions about property management in the form of a Q&A. Though 16 questions and answers won’t cover it all, we hope it will give you a much better understanding of the inner workings of property management. Additionally, we hope it will allow you to see that great property management is easily attainable--the trick is to work with a knowledgeable and experienced company who knows the market.
How long have you been in this business?
I have been in the property management business in the Tampa area for 15 years.
Who is Vintage Real Estate’s ideal customer?
We are happy to help anyone who needs assistance managing their residential rental property in Tampa. An ideal customer for Vintage Real Estate would be a financially secure residential real estate owner. We specialize in residential property management.
What is something Vintage Real Estate does better than its competitors?
Our competitors in the Tampa-area property management space are good at what they do. At Vintage Real Estate, I think our biggest differentiator is our communication style. Our top priority is excellent and clear communication with owners and tenants. Over the years, I’ve learned this leads to an easy and successful property life cycle, and provides a higher level of customer service that people really want.
What are your favorite neighborhoods in the greater Tampa area?
There are many great neighborhoods in the Tampa area but these are my personal favorites: Riverview, Seminole Heights, Dunedin, South Tampa, Plant City. You can find a list of available properties in these great neighborhoods here.
What are some of the greatest benefits of working with a property manager?
Working with a tenured property manager in Tampa has a lot of benefits. Mainly, doing so allows landlords to worry less and enjoy a stress-free investment management experience. We take care of properties like they are our own so the owner can be assured that we have their best interest in mind with everything we do for them and their property.
What are some common misconceptions about property managers and why?
Some common misconceptions about property managers are that:
It will cost too much to have a property manager (it can actually save you money!)
Thinking you don’t need a property manager because you can do it yourself easily, and
Thinking that a property manager won’t look out for your home like you would (we take care of properties as if they were our own.)
What differentiates property management and real estate?
The real estate industry deals with listings and selling of properties on behalf of property owners. Property management deals with all management aspects of the property on behalf of the property owner including maintenance, repairs, tenant issues and more. Real estate is generally a short-term business relationship whereas property management is a long-term business relationship. They are very different businesses that need to be handled differently to ensure successful outcomes.
What are the top three most common questions customers ask you?
How much will my property rent for?
When and where is the best time and location to purchase a property?
How long will it take to get my property rented?
How many properties do you manage?
We currently manage over 600 properties in the greater Tampa area.
Does property management require a special license?
In Florida, property managers are required to have a real estate license to provide rental/management related services.
How do you decide on rent?
We do an extensive market analysis of similar properties in the same geographic area that have rented within the last 60 days while also taking into consideration what is currently available. Our goal is to get the highest rent possible while also renting the property as quickly as possible. You can get a rent analysis done on your investment property here.
How do property managers handle evictions?
We try to avoid evictions altogether from the beginning of the screening process. With a properly screened tenant, an eviction is unlikely. From the beginning during the tenant qualification process, we set and manage the tenant’s expectations. In the rare scenario where an eviction is necessary, we engage a third party company/attorney and guide our owners through the entire process from filing with the courts to the sheriff removing the tenant. Our goal is to get the property back on the market as quickly and efficiently as possible.
What is the process for screening potential tenants?
We are very thorough in our process for screening potential tenants. We have a multi-step process that starts with identity verification, then looks at payment history, available and delinquent debt, credit score, eviction history, criminal history, income verification of the amount and employer, and we even do screening for pets.
Do I have any control over the lease agreement?
We handle all aspects of the lease agreement so our clients don’t have to worry about it.
What are your management fees?
Our fees will vary depending on the type of property and the rent amount.
How often do you update clients on their properties?
Our clients receive monthly statements along with their monthly rent deposit. We also inspect the property once a year or more and provide them with the report. We would also contact them with any maintenance issues, HOA violations, or tenant requests.
Florida Property Management in the Greater Tampa Area
If you are feeling stressed or burdened by landlordship and are seeking a solution, allow us to ease the burden for you. It doesn’t have to be difficult and there is no reason to stress over managing your own properties when you have the option to work with an experienced Tampa property management company like Vintage Real Estate. We have been working with landlords, buyers, tenants, and sellers in the property management field for over 15 years and are looking forward to working with you as well!