| 7 More Things to Ask - Jimmy Mack's Condo In Biloxi.com |
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7 More Things to Ask a Property Manager
(and how Jimmy Mack Vacations compares)
Real estate property management is a specialized business. Making the right choice is important for you to protect your
investment. To assist you in your decision, we’ve laid out 7 key questions. To be able to manage your investment successfully, a
property management company should be able to answer "YES" to most of them:
1. Do they personally invest in residential real estate?
If the people you are putting your trust in don’t know every aspect of residential real estate investing from personal
experience, how can they effectively manage your property? Don’t let somebody test their theories with your money and your
future. This has to be the first question you ask any potential property manager. If they aren’t in the game themselves, they
can’t possibly understand your needs and concerns.
Jimmy Mack Vacations – yes, we own vacation rental property.
2. Will they market your property effectively?
While the promise of ‘free’ or ‘cut-rate’ marketing may sound inviting, it should be a red flag for the serious investor. If the free
marketing is a one-line ad in the Sunday paper, expect to get what you paid for. It could easily cost you a mortgage payment or
two while your home sits empty. Great marketing creates more phone calls… more phone calls lead to more prospective guests
and better choices… which produces the best possible guests in the shortest possible time. That’s real property management.
Jimmy Mack Vacations – Internet marketing, search engine optimization, keyword analysis, referral source analysis, organic,
local and paid advertising strategies, Google, Yahoo, MSN and Bing target marketing strategies. You found us, right?
3. Does the company have individual experts accountable for your property? Do you know about the Biloxi beach condo
communities?
The area is just too big for one person to be the expert. Make sure the property management company you choose has
experts who know the various condos along Biloxi Beach where your investments are located. When combined with effective
marketing, this local knowledge is a powerful 1-2 sales punch to get your property occupied.
Jimmy Mack Vacations – yes. Staff members live, work and play in various communities in our marketplace.
4. Will they be able to coach you with your real estate investment strategy?
Every thriving real estate investor can learn something from somebody else. Again, we don't have all the answers, but we have
some of them. Having the right real estate team can make all the difference. Buying the right home in the right neighborhood
at the right time could double or triple your investment returns; choose a property management company is a big step.
Jimmy Mack Vacations – we also watch the rental marketplace with an investor’s eye. We can share our own personal
experience as well as the experience of other owners to really educate and share with you the truth.
5. Do they use an action-based fee model?
wise investment choices and maintain their property, pay the same even though their properties With an action-based model,
you pay only for the resources required to manage your property and the company can focus on quality properties with With
an action-based model, you pay only for the resources required to manage your property and the company can focus on
quality properties with better returns.
better returns.
Jimmy Mack Vacations – accountability and property ratings are a foundation of our business model. We charge more for
lesser quality properties and their owners. Properties in need of maintenance or care require more of our time answering
phone calls from guests, arranging for repairs, updating this or that, take more of our time. We charge more for this service.
As a result, if you are a responsible, caring owner, you will not be charged for the extra work caused by other owners.
6. Do they use battle-tested contracts and agreements?
Many property management companies still use the standard MLS agreements. As a serious investor, your main concern must be
to protect your assets and cash flow. Standard MLS agreements are designed to protect agents and brokers, not investors.
Make sure your management company uses agreements that are specific to investors and have a long track record of standing
up in court.
Jimmy Mack Vacations – the agreements and terms in place for guests in your properties are very well worded, provide
strong terms and language that benefits you the owner. In fact, these documents don’t even create a landlord-tenant
relationship with our guests. This provides the utmost in owner protection.
7. Couldn’t I do it myself?
In a perfect world you wouldn't need to hire a property management company. But the world of real estate investing is far
from perfect. Problems and pitfalls are everywhere; there are expensive mistakes to be made. How much does two weeks with
your property standing empty cost you? How about an eviction? What if your agreements aren’t enforceable? Poor or
inexperienced property management can literally cost you thousands of dollars a year. Quality, professional and accountable
property management doesn't cost...it pays!
Jimmy Mack Vacations – how much time does the average working professional or executive have to devote to this activity?
Even with a lot of time, the leverage gained by spreading marketing expenses and man-hours over many properties allows us to
obtain a lower cost of operations. The experience we have gained over many years, many different properties and many
different owners, allows us to generate more cash-flow than what most owners can do on their own. Are we perfect? No. Is
there a chance someone could do really well by themselves? Certainly. Let us know if you’re one of them…we might want to
put you on our payroll!
Property Management Reports for Owners:
9 Things to Ask a Property Manager
7 More Things to Ask a Property Manager
Should You Hire A Property Manager? (yes, no or maybe)
7 Things Owners Should Know About Property Management
The Jimmy Mack Difference - (what we will and won't do for you)
(and how Jimmy Mack Vacations compares)
Real estate property management is a specialized business. Making the right choice is important for you to protect your
investment. To assist you in your decision, we’ve laid out 7 key questions. To be able to manage your investment successfully, a
property management company should be able to answer "YES" to most of them:
1. Do they personally invest in residential real estate?
If the people you are putting your trust in don’t know every aspect of residential real estate investing from personal
experience, how can they effectively manage your property? Don’t let somebody test their theories with your money and your
future. This has to be the first question you ask any potential property manager. If they aren’t in the game themselves, they
can’t possibly understand your needs and concerns.
Jimmy Mack Vacations – yes, we own vacation rental property.
2. Will they market your property effectively?
While the promise of ‘free’ or ‘cut-rate’ marketing may sound inviting, it should be a red flag for the serious investor. If the free
marketing is a one-line ad in the Sunday paper, expect to get what you paid for. It could easily cost you a mortgage payment or
two while your home sits empty. Great marketing creates more phone calls… more phone calls lead to more prospective guests
and better choices… which produces the best possible guests in the shortest possible time. That’s real property management.
Jimmy Mack Vacations – Internet marketing, search engine optimization, keyword analysis, referral source analysis, organic,
local and paid advertising strategies, Google, Yahoo, MSN and Bing target marketing strategies. You found us, right?
3. Does the company have individual experts accountable for your property? Do you know about the Biloxi beach condo
communities?
The area is just too big for one person to be the expert. Make sure the property management company you choose has
experts who know the various condos along Biloxi Beach where your investments are located. When combined with effective
marketing, this local knowledge is a powerful 1-2 sales punch to get your property occupied.
Jimmy Mack Vacations – yes. Staff members live, work and play in various communities in our marketplace.
4. Will they be able to coach you with your real estate investment strategy?
Every thriving real estate investor can learn something from somebody else. Again, we don't have all the answers, but we have
some of them. Having the right real estate team can make all the difference. Buying the right home in the right neighborhood
at the right time could double or triple your investment returns; choose a property management company is a big step.
Jimmy Mack Vacations – we also watch the rental marketplace with an investor’s eye. We can share our own personal
experience as well as the experience of other owners to really educate and share with you the truth.
5. Do they use an action-based fee model?
wise investment choices and maintain their property, pay the same even though their properties With an action-based model,
you pay only for the resources required to manage your property and the company can focus on quality properties with With
an action-based model, you pay only for the resources required to manage your property and the company can focus on
quality properties with better returns.
better returns.
Jimmy Mack Vacations – accountability and property ratings are a foundation of our business model. We charge more for
lesser quality properties and their owners. Properties in need of maintenance or care require more of our time answering
phone calls from guests, arranging for repairs, updating this or that, take more of our time. We charge more for this service.
As a result, if you are a responsible, caring owner, you will not be charged for the extra work caused by other owners.
6. Do they use battle-tested contracts and agreements?
Many property management companies still use the standard MLS agreements. As a serious investor, your main concern must be
to protect your assets and cash flow. Standard MLS agreements are designed to protect agents and brokers, not investors.
Make sure your management company uses agreements that are specific to investors and have a long track record of standing
up in court.
Jimmy Mack Vacations – the agreements and terms in place for guests in your properties are very well worded, provide
strong terms and language that benefits you the owner. In fact, these documents don’t even create a landlord-tenant
relationship with our guests. This provides the utmost in owner protection.
7. Couldn’t I do it myself?
In a perfect world you wouldn't need to hire a property management company. But the world of real estate investing is far
from perfect. Problems and pitfalls are everywhere; there are expensive mistakes to be made. How much does two weeks with
your property standing empty cost you? How about an eviction? What if your agreements aren’t enforceable? Poor or
inexperienced property management can literally cost you thousands of dollars a year. Quality, professional and accountable
property management doesn't cost...it pays!
Jimmy Mack Vacations – how much time does the average working professional or executive have to devote to this activity?
Even with a lot of time, the leverage gained by spreading marketing expenses and man-hours over many properties allows us to
obtain a lower cost of operations. The experience we have gained over many years, many different properties and many
different owners, allows us to generate more cash-flow than what most owners can do on their own. Are we perfect? No. Is
there a chance someone could do really well by themselves? Certainly. Let us know if you’re one of them…we might want to
put you on our payroll!
Property Management Reports for Owners:
9 Things to Ask a Property Manager
7 More Things to Ask a Property Manager
Should You Hire A Property Manager? (yes, no or maybe)
7 Things Owners Should Know About Property Management
The Jimmy Mack Difference - (what we will and won't do for you)
| 228-207-4730 info@CondoInBiloxi.com |
