Nancy Braun Talks With WCNC-NBC Charlotte Today How Carolina Property Management Saves Property Owners Money
Charlotte, North Carolina (August 3, 2018) — Nancy Braun, owner of Carolina Property Management, has long been known for her expertise in all things real estate. At last count, her company had over 12,500 renters among its clients-in-waiting. Now, in an interview with Charlotte Today’s Eugene Robinson, Braun tells property owners that hiring a reputable property manager will save them money in the long run. She dispels myths about costs, and explains the power of efficiency when property owners select the right company to manage their property.
Investing in a rental property or even leasing out a home encourages property owners to believe that they’re building equity through a solid and tangible investment. Unfortunately, bad experiences with less than proficient property management companies, combined with the myth of wasting money, causes many owners to decide to manage the property themselves and invite tenants in without any real idea of potential pitfalls. Braun has dealt with thousands of scenarios throughout the Carolinas involving every aspect of real estate, including dealing with the challenges of managing homes and investment properties for rental income clients.
Robinson recalls how his 83-year old mother owns properties that she wants to rent out, but does not trust service proficiency or the integrity of property managers, and asks Braun why property owners should hire a property manager.
Braun explains that the key to success is in hiring a reputable property management company with a good track record. She stresses on how important it is for owners to know that this is the most cost-effective and sensible approach to ensuring a top Return On Investment (ROI). A property manager oversees the day-to-day operations, marketing, tenant management, leasing, and maintenance of rental properties. “Your mother needs to consider a few essential facts. It’s probably not safe for her to personally go around collecting rent, or to maintain a property. Also, the tenants will be happier because they will have a more efficient experience by a company whose sole job it is to provide 24-hour service on the property owner’s behalf.”
Braun goes on to explain that if Robinson’s mother used a company like Carolina Property Management, then her tenants will have the ability to make online payments, instead of the inconvenience of mailing a check every month. They can also benefit from instant service through the company’s maintenance portal where they can log on and add their maintenance issues — instead of depending upon the property owner’s schedule or availability.
“We’ve got to remember that a well-maintained property with happy tenants, means that rents can be competitive, payments are made on time, and there is less vacancy time — the home will rent out fast. When you think about the convenience for both landlord and tenant, it’s not even a cost, but more of a gain,” she says.
Concerning the actual cost of hiring a property management company, Braun explains that prices vary depending on the situation. “Typically, it’s a nominal fee that could be anywhere between 8 percent to 10 percent of the rent that is collected every month. For example, if Carolina Property Management provides you full service management, and you rent out the property for $1,000 a month, you pay us $100 every month to take those midnight calls, maintain the property, drive by to check up on the condition, personally visit and inspect the property, ensure that smoke and carbon monoxide detectors are fully functional at all times, and so on. Careful care like this ensures the longevity of the property with ongoing maintenance, and gives the owner — and their tenants — peace of mind.”
The challenge of finding the right property manager for most owners makes them shy away from hiring a company to help them. Braun believes owners should research companies online by looking at reviews, ask about vacancy rates, experience, and especially if they are full service. “I find that owners are more concerned with the fee than the quality of service they need to receive for their specific needs,” says Braun. “There is a vast difference among property management service and quality. It’s better to ask what they are going to do, than how much they charge. For example, a limited service discount property manager will give them a discount version of services — which might not include diligent maintenance, etc. Everything costs money, but in this case, it’s so nominal.”
In property management, a company’s ability to ensure the home is occupied 100 percent of the time, is important. The longer a property is vacant, the more income the owner loses — for example, if the rent was $1,000 a month, and it takes two months to lease out the property, the owner loses $2,000. When considering hiring a property management company, Braun says owners should ask about turnover rates, how long it will take to lease the property, and what kind of track record they have with quick occupancy.
“If, for example, it takes 15 days to get a property leased, and it can be done before the tenant moves out, then it’s ideal so the owner does not lose out on rent. At Carolina Property Management, we build in to our lease agreements that the tenants agree to showings 60 days prior to the termination of their lease agreement. More often that not, we always have a ready tenant who moves right in when the previous tenant moves out. Zero days of vacancy!”
In conclusion, Braun stresses on the importance of shared goals and vision between property owner and property manager. She stated that it’s important to her to work with owners who care for their properties and who prefer to work together with her to put the investment property to work at its optimal level. “If they’re trying to cut corners and not spend the money, I might not be the right fit. I had a scenario where the owner didn’t want to deal with the mold issue in the house, and I had to end the relationship because the tenant was in there, and so it wasn’t a good fit.”
Watch the full episode here:
If you’re an investment property owner interested in hiring a stellar property management company with happy clients, and a great track record, call Nancy Braun today at (704) 550-4854, or visit NancyHasTheTenants.com to get your FREE copy of Nancy Braun’s 5 Ways To Get Top Dollar on Your Rental Property.
Thinking about buying an investment property and want guidance on how to buy or sell your home right now? Get your FREE copy of Nancy’s book, The No Holds Barred guide To Buying and Selling A Home in the Carolinas, visit: ExpertHomeHelp.com
About Nancy Braun: A lawyer and entrepreneur, Nancy Braun is a certified property manager and runs a team of property management experts at Carolina Property Management LLC; and also owns award-winning real estate company, Showcase Realty LLC. Nancy has been in the real estate industry for more than 23 years. An award-winning real estate agent, Nancy has sold thousands of homes in the Carolinas — assisting home sellers sell for top dollar, and home buyers realize the American dream of home ownership. She often offers her expertise to real estate audiences through TV appearances, podcasts, articles, blogs and more.
About Carolina Property Management: Carolina Property Management LLC in Charlotte, serves property owners in North Carolina and South Carolina with their property management needs. The company is known for its unique management system and top-of-the-line technology for property owners and tenants to have a hassle-free experience with professionalism, efficiency and ease. Visit www.CarolinasPropertyManagement.com for more information.