No Complaints at Waverly Property Group

Real Estate is picking up!

It is a welcome sight for everyone! We have definitely seen an increase in real estate activity at Waverly Property Group recently, so we have no complaints! What I have noticed is that the cash buyers are out looking for good deals. That is always a good sign for the market. Even the luxury market is there again. However, we find it is the cash investors either looking for a great purchase, or a rental, or to move into their dream home. I know that I have several cash Buyers looking for luxury homes for Waverly Property Group to manage for them, usually for short term vacation rental. Property Management Groups have seen an increase in business as well and the Waverly Property management department has too. Many investors are finding great deals, and immediately placing them with a Property Management Group for rent. Waverly Property Management has been getting a lot of calls recently as tenants look for affordable rent on some of these great opportunities. So, if we all keep working hard, and think positive, we will survive these tough times!

Lower price homes are selling at Waverly Property Group As real estate in general seems to be picking up steam, at Waverly Property Group we have a lot of demand for lower priced homes. The market is definitely moving faster in that price range than others right now. Waverly just listed a cute beachside home in the $150’s and we had 3 showings in one day! Plus, this price range is great for property management groups, because the rent can be low enough to attract great tenants, and still cash flow for the owner. And I am sure tenants have no complaints about the lower rent!

Property Management Group can be invaluable to any real estate office

These days it is harder and harder to make a real estate office successful. At Waverly Property Group, it is the Property Management group that is helping our office be successful. I know many Brokers have title or mortgage in house, but don’t forget about a Property Management group! Depending on the area, you may be able to benefit from short term or long term management.

Property management can definitely be a thankless job, with many complaints from tenants and owners. It is never possible to please everyone! However, with revenue down from commissions, brokers really should look at a property management group. If your office is in a tourist area, short term rentals can be excellent revenue, and a source of Buyers. Long term rentals are the most common in all areas, but again, be prepared for tenant complaints…everything is our fault! With a skilled person to handle issues, owners can benefit and so can the broker.

How to handle Property Management group complaints

While Property Management can be an excellent source of revenue, it is often thankless with many complaints from tenants. No matter how hard you try to please everyone, it is usually not possible. In this market, there are many new issues facing property management groups. With increasing unemployment, foreclosures on the rise, and tough economic times, even the best owner or tenant can become a liability. The most common issues have become repairs that the owner will not, or can not financially do, or even a foreclosure. In some cases, our office has been forced to bear the cost of repairs up front, and collect from later rent. In the case of foreclosure, the property management group is usually blamed by the tenant. However, it is never our job to make the mortgage payments for the owner. Personally, anytime that a tenant complains when they receive notice of a foreclosure, I offer to let them move without losing their security deposit or damaging their credit (so long as they are current on their rent). Another possibility is to help the tenant purchase the home prior to foreclosure (usually as a short sale). Then they have been able to test drive the home, and may be thrilled to be able to call it theirs… a classic example of turning a negative into a positive. Property management groups face tough complaints these days, and have to be more creative and flexible with problem solving.