Investing & Owning Rental Property Made Easy
As a full service management company, we handle all aspects of management responsibilities creating a hassle & headache free, endeavor for our landlords. A big part of success in real estate, and in business in general, is forming the right types of alliances. Alliances increase strategic positioning and are used as a method to increase strengths, helping those parties involved reach their goals more efficiently and at a much quicker pace. At Paramount Home Realty Group Inc., we are committed to this philosophy. In fact we built our name on it. Why Choose Paramount?-What to look for when selecting a management company.
Paramount Home Realty Group is the owner's partner in maximizing the return on investment of the property through efficient performance of these four functional areas of responsibility. PHRG acts in the best interests of the owner to maintain the property, keep it occupied with tenants, collect rents, budget improvements and maintain records. Marketing and Financial
Property management involves understanding of operating expenses and budgeting. From this information, appropriate rental rates are set, balanced by the current market and what it will support in the way of rents. Our knowledge and expertise within the area’s competitive rental properties, is the key to our property investor’s success. PHRG recommends marketing programs, special promotions and other advertising strategies to the owner in order to maximize occupancy and rental rates. Tenant and Occupancy
Understanding the needs of the tenants is vital for this function. Getting them to move in is only the beginning. PHRG maintains continual communication with the tenants and responds immediately to their requests, monitors their activities as regards the lease requirements, collects rents in a timely manner, and continually assess the tenants' satisfaction as regards the property's amenities versus those of competing rental properties in the area. The unwelcome task of eviction for violations or non-payment is part of this function also. Facility Management
Property management is also physical management of the structures and outdoor areas. Landscaping, electrical, plumbing, roof, walls, appliances, and much more are all part of the physical property. PHRG maintains relationships with contractors and repair companies, budgets capital expenditures, and monitors the quality of all repairs and maintenance. This function ties in with the financial piece, as some improvements will require significant capital expenditures and budgeting for them. It ties in with tenant and occupancy management because it is important to tenant retention to have well-maintained properties. Administration & Risk Management
This is the files and records part of the property management function. For reasons of liability, all activities and tenant interaction must be recorded and maintained for specified periods of time. Paramount maintains meticulous records ensuring that your financial interests are being professionally and legally protected. Though also related to financial functions, there are very rigid requirements for the handling of funds paid by renters for disbursement to owners. We provide our investors a monthly computerized statement of income and expenses, which is clear and understandable. Your year-end statement makes your tax preparation much easier. You enjoy the ease of record keeping. Comprehensive Tenant Screening & Qualification.
One of the most powerful ways to reduce late rent, problem tenants and evictions is through proactive tenant screening. All prospective tenants will be screened, checking backgrounds to include eviction, criminal, rental, credit, work history and more. |