Many Miami Homeowners decide to switch to Bahia Property Management after being dissatisfied with their property manager. Here are Top 5 Reasons we’ve heard why owners ditched their previous property manager and came to Bahia.
#1. Delay or Failure to Make Monthly Payment
Some property management companies delayed or stopped paying the owners. Many owners had to wait over a month to see the deposit in their bank account. When they asked questions, the managers would say “the tenants paid late“. So they had no control.
Worse, some property managers fail to make the required payments such as HOA or vendor fees. Recently an owner decided to switch to Bahia, because we helped them discover that the property manager stopped paying the HOA dues over a year ago. (Fortunately, the HOA did not foreclose on the property yet, so we were able to save the owner’s property.)
Bahia’s Promise #1: Get paid on time every month.
We pay our owners by 7th – 10th of each month. Like clockwork, you’ll see the funds directly deposited into your account on time. There is a lot of behind-the-scenes work we do to make it happen (such as Our Zero Tolerance Rent Collection process). Bottom line: We collect rent and pay you on time.
#2. Unfair billing practices
Some property managers were billing the owner multiple times for the same repairs. Every time a tenant vacated, the owners were billed for the same equipments (we’ve seen “fan chain”, “stove screws” etc.) The owners thought, “Why would the same items break every year?”
There were property management companies who charged them extra for each repairs. This is known as “upcharge,” or padding the bill. Other managers received a kickback from the vendors they assigned the work to. This created a conflict of interest.
Bahia’s Promise #2: No hidden fees, kickbacks or upcharges.
We do not financially benefit from choosing one vendor over another. Whatever savings we create will benefit the owner directly. There are no hidden fees, padded bills or kickback agreements with any vendors. (The only thing we require is that the vendors be licensed, bonded and insured for your protection.)
#3. Not knowing where the money went
We know owners who never received monthly statements from their property managers. No receipts for expenses, either. They had no idea where the money was going, and why they were not getting paid in full.
Bahia’s Promise #3: Real Time Financial Information in the Owner Portal
In addition to the monthly and annual financial statements, we provide the Online Owner Portal. In the Owner Portal, all transactions get updated in real time with relevant invoices and receipts. You will see with 100% clarity where the money is going at all times.
#4. Their rent was set too low
Even though the market rent was rising each year, their property’s rent was kept low. The property managers never raised the rent, so the same tenants would stay in the unit for years at a discount.
In some markets the rents are rising over 5% each year. Over several years this can add up to thousands of dollars of additional rent.
Bahia’s Promise #4: Annual Rent Analysis to Raise Rent When Needed
Each year, we check to make sure your rent is comparable with similar properties in the area. In a busy rental market with high demand, the rent should go up every year.
#5. It was impossible to get hold of the property manager
Some owners received no communication from the property manager. They received no response to emails or voicemails.
One property manager placed a tenant who turned out to be a con artist. The tenant never paid rent. The owner lived abroad, and could not get hold of the property manager for months. Finally he had to come to Florida to deal with the issue himself (and hire a new property management company).
Another owner discovered that their property manager never dealt with tenant requests. When we took over the management of their apartment building, we found a small mountain of maintenance requests shoved into a desk drawer, unattended.
Bahia’s Promise #5: We are here for you.
We’re available on the phone, email or your Owner Portal. You can call or email us with questions any time. We respond to emails in 1 business day. Because we have a strong team, there will always be someone that can assist you regarding your property.
Many owners find the experience working with Bahia Property Management to be refreshingly different. Contact us via the form below. Your property deserves the best management service available!
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Bahia Property Management is Rated A+ & Accredited By Better Business Bureau
Why do over 400 owners trust Bahia Property Management to professionally manage their rental properties? The reason is simple: We help lessen their stress of rental property ownership.
120 Day Money Back Guarantee
We want to make it easy for you to try Bahia Property Management’s services. That’s why we’ve extended our Satisfaction Guarantee period to 120 days. If you choose to cancel our services within the guarantee period, no hard feelings. You’ll get all of the management fees back (excluding any lease fees, if we placed a tenant) and there’ll be no penalties.
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Together we’ll discuss the best solutions for your rental properties.