Property Management Blog

Top 5 reasons you should hire Red Door Property Management

Chris Knight - Thursday, April 6, 2023

Top 5 reasons you should hire Red Door Property Management

Hey, guys. Chris Knight, business development manager with Red Door Property Management. But you probably already know that. But I am back with another top five list that everyone loves. Now this one's going to be one of my favorites because this one is specifically the top five reasons you should hire Red Door Property Management. So, without further ado, here we go.

Reason number one 

Number one is easy. You get your life back, right? So, what's the investor saying that all the big investors are talking about. The bank buys my house, the tenant pays for my house, and the property management company runs the day to day so that I can sit back, collect my monthly check and it's all hassle free. I mean, that's the idea, right? That is the dream. So, number one is you get your life back. Number two is going to be huge. And I know I say that all the time if you've watched any of my videos, I get very passionate about some specific items. 

Reason number two

And number two is going to be communication. So Red Door really prides itself on providing good, timely communication and that's keeping you update on market conditions that's answering our phones, which is huge. If you've done any searching around, which I highly suggest that you do, so check with some other companies, you'll quickly find that Red Door Property Management is the only one that will actually pick up the phone and this is before you even become a client. So, I would hate to see, in fact, the number one reason that landlords leave their current property management company is lack of timely communication. This is number one on Red Door's employee list and we hold our employees to that standard. It's huge. We have to provide timely communication. 

Reason number three

Number three, this is going to be huge, especially if you're just getting into the market. So, I'm going to do a little bit of a plug here, but market updates, right? So, if you follow our YouTube channel at all, you'll see our market updates whether you're in the Indy area, the Westfield, Fishers, Noblesville, Avon, Brownsburg. We run market reports for those on a monthly basis so that you can see the trends that are happening, but just keeping you updated on the market, but also keeping you updated when you actually have a property that's being marketed. So, we will provide you a weekly video update on your specific marketed property in the activity that it's receiving. And along with that, we're going to provide you suggestions on what we think we need to do in order to produce a tenant in a timely manner. Remember, Red Door doesn't make a dime until we place a tenant in your property. So, we are just as motivated to place a tenant as you are at top rental value. 

Reason number four

Number four, if you've watched any of our other previous videos that would include me, you're going to know that this one is a hot spot for me properly documenting the condition of the property. And now this is not only at move in and move out, which is absolutely huge in order to hold the tenant accountable when you're reconciling that security deposit, but just to dive into those a little bit at the move in, we will complete photos and video of virtually every inch of the property. And then we do the same thing at move out to reconcile that tenant security deposit. Now, most important, even above those two is going to be that mid lease inspection that we are going to hold the tenant responsible for, for anything that would exceed normal wear and tear on the property. So, if the carpet is overly worn marks on the walls that shouldn't be there. Of course, this isn't going to include your occasional hanging painting, but anything that exceeds normal wear and tear, we are going to issue that tenant a lease violation and provide them 30 days to resolve that lease violation and provide us some type of proof that it has been resolved within that 30-day time frame. This is absolutely massive where a lot of management companies will fall short. They may say that they do these inspections, they may not do them properly. What I can assure you is most of them do not hold the tenant responsible even if they do discover something during that inspection at that time. Instead attempt to hold that tenant responsible and hoping that the security deposit will cover any damage done to the property.

Reason number five 

And number five is going to be very simple and absolutely massive. Again, tenant qualifications in a nutshell, Red Door does a five-step process that essentially checks the national sex offender checklist, a background check, a credit check, we check their two previous landlords and we check their current employer. Every one of these sections has their own little subsections for additional qualifications, but it is an in-depth screening process. Our property managers have had to become somewhat of forensic scientists in order to prevent scammers because they have become extremely prevalent and even providing fake licenses, fake Social Security cards. But all of that information is going to be collected and weighed against each other to ensure that we are going to have the best and most qualified tenant to fit your property. And I'm even going to throw in a little bit of an honorable mention here. So really a number six on a top five list is those vendor relationships, right? I mean, we do have the staff and vendor relationships necessary to respond to maintenance concerns within a timely manner. Again, this is huge. This is going to result in your tenant having a longer stay. So that great tenant, you just hate to hear that they want to move out. Well, this is going to ensure that you're going to squeeze out a much longer tenancy out of those great tenants because you're providing good and timely maintenance costs not only that, the vendor relationships that we have are going to be likely at a lower rate than if you were to hire this outside vendor on your own. Because of the number of maintenance concerns, we're able to provide them and have agreed upon rates, let alone our on-staff maintenance team, which is designed for just your general maintenance items in an effort to help keep costs down along the way.

 And guys, that was your top five reasons why you should consider hiring Red Door Property Management. Again, I could have easily made this a top ten, and who knows, maybe I will in the future. But if you're not already engaged with our market reports and our other YouTube videos, I highly encourage you to get involved. Put in a phone call. Happy to jump on the phone at any time if you'd like to discuss anything further, or maybe even a rental analysis. You have a property that you are interested in, and you are wondering what that property might rent for. Please get in touch. Shoot me over that address. Happy to run a rental analysis for you at any time. My name is Chris. Red Door Property Management will check you in the next video.