CONTRIBUTED CONTENT — Investment property owners in Southern Utah are searching for ways to earn income while building long-term wealth. Many have found that partnering with an experienced and knowledgeable property manager helps them reach these goals and avoid most of the stress associated with managing a rental.
Advertising the property, screening tenants, drawing up lease agreements, understanding rental laws, making sure your rights as a landlord are protected – it’s a lot to juggle. The St. George branch of Coldwell Banker Property Management represents property owners to the highest standard and oversees hundreds of rentals across Washington and Iron counties.
“We understand that we don’t own the properties we manage; we’re only stewards,” owner Matt Ivie said. “Our purpose is to help our clients harvest the benefits of owning a rental property by managing it as if it were our own.”
When searching for a property manager, Ivie recommends keeping the following five questions in mind:
- How do you screen applicants?
- How do you handle emergency situations during business hours and after hours?
- How much experience do you have as a property manager?
- How often do you inspect the property?
- What fees do you charge?
Whether an investor’s portfolio consists of single-family homes or large multiplex properties, Coldwell is prepared to meet the needs of every property owner with customizable solutions.
A successful rental is best marketed with professional advertising services. Coldwell properties are published on over 40 rental property websites, and the dedicated staff personally follows up on leads to secure the applications of qualified tenants.
Responsible and respectful tenants make all the difference, so Coldwell conducts criminal background and credit checks as part of their comprehensive screening process. Applicants are evaluated on six criteria: length and field of employment, length of current residency, payment history, collections, rent-to-income ratio and credit score. Coldwell’s staff also meets with prospective tenants for an interview and contacts previous landlords to check for any lease violations, late payments or damage reports.
“The most important part of owning a rental property is screening your tenants,” Ivie said. “To prevent issues, it’s better to hire a property management company to get it done professionally from the beginning.”
Coldwell provides a convenient online portal for tenants to submit maintenance requests and pay rent. The company also handles any issues resulting from non‐payment, including charging and collecting late fees. On the rare occasion that eviction becomes necessary, Coldwell will walk property owners through the complexities of the process.
Ivie said Coldwell has only evicted three tenants since opening in 2017, and all of those tenants were already occupying the rental when they took over management of the property from the owner.
With Coldwell, investors can rest assured that their tenants are taking proper care of the rental. Inspections are conducted on all properties every six months, and a copy of the inspection report is made available to owners online.
Additionally, Coldwell provides tenants with a series of instructional videos on minor maintenance issues that range from changing air filters to shutting off the water if flooding occurs. In the event of an emergency, owners can call a 24/7 helpline that will be answered by a Coldwell representative.
Coldwell never upcharges or takes a profit for maintenance, Ivie said. The company negotiates discounts within their network of highly trained local service providers and passes those savings along to property owners.
Owners receive detailed cash flow statements every month. Income and expenses are meticulously tracked so that every required report is available for tax season.
Without the support of a property manager, landlords are left to manage the day-to-day responsibilities and occasional headaches of their rental portfolio. Coldwell provides investors with the freedom to grow their nest egg while leaving the hard work to the professionals.
Written by ALEXA MORGAN for St. George News.
• S P O N S O R E D C O N T E N T •
Resources
- Coldwell Property Management | Address: 157 E. Riverside Drive, Unit #1A, St. George | Telephone: 435-272-4699 | Email: [email protected] | Website.
Copyright St. George News, SaintGeorgeUtah.com LLC, 2022, all rights reserved.