Leasing | Management
Location, location, location...the old real estate cliché. While location may be an obvious component, it is usually the details, details, details that drive your success. Owning and managing property is a time-consuming, labor-intensive venture, and it is often the relentless attention to the little things that take all the fun out of seeing your portfolio appreciate!
Who can you trust to tend to the details when it comes to some of your most valuable assets? We at Taylor make it our business to provide full-time, professional, hands-on property management. Everyone at Taylor is a licensed, trained property management professional with years of experience in the field. We offer a low ratio of manager to units for better service for you and your property.
What is the process? Most of our existing and prospective clients come to us by word of mouth. But just as your friend’s doctor may not be the best choice for you, your friend’s property management firm may not be the best, either. The first step is to interview each other in conjunction with a visit to the property. We’ll discuss such things as property condition, your needs as they relate to the property, what may need to be done to the property for marketing purposes or code compliance, ongoing costs, and our policies and procedures. It is our goal for each of us to come out of the initial meeting with as much information about each other and the property so that we can decide if the “fit” is right. Knowing that we can trust each other is first and foremost.
What has to be done to my property to make it rentable? In general, we’ll want to ensure that everything is in good and clean condition, both for aesthetic reasons and to ensure code compliance. An appealing, well-maintained property will attract the best prospects, will minimize maintenance headaches and potential liability, and will maximize your rental income. We can recommend tried-and-true service contractors and will lead you through the any registration processes applicable to the jurisdiction in which your property is located once we are under contract with you.
How much does it cost? Our fee is collected monthly as rent comes in. Most of the time, it is based on a percentage of the monthly rent rather than as a flat dollar amount. We will ask you to set up a reserve fund at the onset of our agreement with you, so that service providers can be paid out of the fund. As rent flows in, the fund will be replenished monthly, all bills relating to the property (such as mortgage, taxes, fees) will be deducted, and the balance disbursed to you. Your net income each month will be deposited to an account you designate, or mailed to you attached to a monthly financial report detailing the income and expense activity on your account. Our spending authority is agreed upon when you sign the agreement…if we anticipate a property repair will exceed our spending authority, you will be contacted first for authorization. At year-end, we will provide an annual accounting for your tax reporting purposes.
It seems like a lot of money. What services are covered by the property management fee? Our office is open Monday-Friday, 9am – 5pm. We maintain a fully-staffed office of property managers and leasing personnel, and also provide after-hours emergency contact services. On your behalf, we will manage and oversee all property-related matters. We will contract for all maintenance and repairs to your property that are necessary or authorized by you, register your property with the appropriate authorities, coordinate any required tests and inspections performed by outside agencies, collect rent, monitor your insurance coverages, administer contracts relating to the property (such as landscaping, termite, gutter cleaning, etc.), liaise with the tenant, pay property-related expenses, and provide both monthly and annual financial reports to you.
I thought Taylor was a sales firm…why should I use Taylor? Taylor Properties Limited was originally a service arm of Taylor Real Estate, a sales firm founded by the Taylor family almost four decades ago. When the sales firm was sold in 2003, Keene Taylor, Jr, and Steve Agostino retained ownership of the property management company and renamed it Taylor Properties Limited. Our primary focus is no longer sales; we are specialists in the property management field. We currently manage approximately one hundred twenty properties, based generally within a few miles’ radius of our office. We feel that our close proximity to the properties we manage gives us an advantage over our competitors. We do not take on accounts that we feel we cannot properly service and will refer your business elsewhere if we feel you are better served.
Co-principals Keene Taylor, Jr., and Steve Agostino came up through the ranks of Taylor as property managers and leasing agents. As the owners of Taylor Properties Limited, they now oversee the company’s growth and development. As sales agents themselves operating from a nearby sales office separate from Taylor Properties, they are always available to lend sales expertise when our clients request an analysis of the “sell vs. rent” question.
How do we start? We are required by local real estate boards to have your written authorization to lease or manage your property. Once a Property Management and Exclusive Rental Agreement is signed by both of us and your reserve fund escrowed, we are able to start management of your property. You may need to complete some additional forms for us, but our team will mobilize quickly and efficiently.
For more information Contact Us.
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