Property Management Blog

What Does a Columbus Property Management Company Do?

Mitch Deminski - Tuesday, May 23, 2017

If you’re looking for professional property management in Columbus, but you’re not exactly sure what a property manager does, we can tell you about some of the services that are provided. Basically, we take care of your headaches and we try to reduce your risk as much as we can. Not all headaches can go away, of course. Sometimes we have to call with bad news. Your property may need a new furnace, or your tenant could potentially lose a job, resulting in an early lease termination. We do everything we can to prevent these types of situations.

Finding and Placing a Tenant

Before we even market your home and look for a tenant, we can conduct a rental analysis, so we know how much your home should be earning. Then, we’ll help you find a tenant, advertise the property, qualify the tenant, and gather all the paperwork that’s required when leasing a property. This includes disclosures about lead based paint and issues pertaining to equal housing. These are some of the biggest mistakes that self-managing landlords make.

Emergency and Preventative Maintenance

Your professional property manager should take the time to go over deferred maintenance, and help with any repairs or requirements that are necessary. There should be a maintenance hotline that’s available 24/7 for the tenants. We will also talk about maintaining the home’s systems and how to keep your overall maintenance costs low.

Collecting Rent and Increasing ROI

Rent collection is a major part of what we do, and we keep the process consistent and proactive to ensure you’re getting paid on time. We will evict tenants when we have to, and work on getting you the most money you can for your property.

We do it all. We can even help you find more properties, depending on your goals. We spend time getting to know your investment strategies, whether you are a buy-and-flip type person or you prefer to buy and hold.

If you have any questions about the responsibilities and duties of a professional property management company in Columbus, please don’t hesitate to contact us at Solutions for Real Estate. We’d love to tell you more.

Does the property manager decide what improvements to make between tenants?

Mitch Deminski - Thursday, April 27, 2017

As an investor considering using a property management service, you might be wondering about whether you will have to give up total control of your unit or home.

Mitch Deminski of Solutions for Real Estate is here to set the record straight and clear up any misconceptions in the latest installment of “A Minute With Mitch.”

Mitch said that sometimes, investors will call in with a common misconception about property management services – that they will be giving up total control over the property.

But that is just not the case, Mitch said. As an investor, you don’t hand the property over to the property management service and have no more input. “That is simply not true,” said Mitch.

When the real estate experts at Solutions for Real Estate get quotes for repairs or upgrades before turning over an apartment for new renters, we include additional items to help investors get the highest rent possible.

These upgrades don’t always need to be done – as the investor it is YOUR decision. These are just recommendations based on what renters want and what the market is doing.

Our experts are simply trying to give investors the insight into what is hot in the real estate market. Right now, that is backsplashes and countertops, said Mitch.

Ultimately, it is the owner’s responsibility to make the final decision on what happens to the property and if updates or upgrades are needed.

“You still have input,” says Mitch. “We’re not just going out there making up things that need to be done. We want your input.”

At Solutions for Real Estate, we want investors to get top dollar for their properties, so we will give you our recommendations so YOU can decide what is best.

Mitch and his team have nearly 20 years of experience in the Columbus market, so you can rest assured that these instincts and knowledge mean investors can be confident in his recommendations.

If you are an investor looking to work with Mitch and Solutions for real estate, please call us at (614) 846-3033. We look forward to working with you!

How Much Can I Charge for Rent in Columbus, OH

Mitch Deminski - Sunday, April 09, 2017
In my nearly 20 years in the business, one of the most common questions I hear from potential investors is: How much can I get for my rental? When people call me, that’s one of the first things they ask.

And that’s understandable.

A few things go into my answer, though. One of the first things is to look at the rental property’s location. If it is near a busy road, freeway or train tracks, you will not get as much for your property as one that is in a quieter locale.

What school district your property is in, however, is the No. 1 driving force behind how high of rent you can command for your investment. Better districts command more money. It’s just that simple. If you are looking for a rental property, buy in the best school district you can afford. I guarantee, that decision will pay off. Another important factor is having a nice, clean and updated property. We can maximize rent for the area if we have one of the nicest properties in the area.

We can help you with that and tell you want to do – and what not to do.

To get a sense of just how much rent your property can command, I like sending out my leasing agents. I have five on my leasing team and they do an excellent job of getting properties occupied and giving me feedback about how we can improve.

They are my boots on the ground and I can send an email and get a response within a few hours with a description of the property (how many bedrooms, bathrooms, basement and garage) and get a good idea of how much we can get for rent.

We try to push the envelope and see how much we can get and something that’s nice about the rental market is, you can adjust the rent by $25 or $50 and get immediate response if you are getting close to the maximum rent.

I don’t like to leave ANY money on the table.

Solutions for Real Estate

If you are ready to become an investor and get the maximum amount of rent for your property, give me a call. Our team will help you get the most money for your property – guaranteed.

How to Screen Tenants | Property Management Advice in Columbus, OH

Mitch Deminski - Wednesday, March 22, 2017


Qualifying tenants and finding a good renter is an important part of being a landlord. Today, we’re providing property management advice on your screening process. In an ideal world, you will find someone who pays rent on time, can afford the place, takes care of the property, commits no crimes while living there, doesn’t bother the neighbors, doesn’t have animals, doesn’t smoke, stays for 10 years, and never calls for repair work. That’s rare, but we’ll get as close as we can to finding that ideal tenant.

Advertising

The screening process starts with our advertising process. We get over 100 inquiries when we advertise a property. As you can imagine, we have to sift through the individuals quickly to see if we can find a qualified tenant. Our ads are descriptive of the property and who we are looking for. We always include our qualifications in our advertising. It’s probably the most time consuming task for our leasing agents. We do a lot of trainings on this topic, because we want to have a great experience for owners and tenants. 

Pre Screening Questions for Tenants

We speak to prospective tenants and ask if they meet all the qualifications we listed in the ad. Sometimes they just see the pretty pictures and price and address. Ask when they want to move in. If their move date is too fast and they’re over-eager, sometimes that’s a red flag and we wonder what they’re running away from. We ask if they have the money to move in right now. When we ask that it’s because we don’t want to wait two or three weeks for someone to gather money. Ask about pets as well. You might allow them or not allow them, but we want to find out if they have them before we show the property. 

Schedule a Showing 

Once we like what we hear, we set up an appointment to show the property. There, we look for clues about their behavior. We ask them to fill out an application and bring proof of income and identification. When they’re willing to provide this, we know they’re serious about the property. If they arrive on time and bring the requested items, we know they are good candidates. At the showing, we look at the condition of their car. Do they have a lot of restaurant bags on the bottom of car, or is it clean? This might tell us how they would take care of the house. Look for dog hair on clothes. If they said they don’t have pets, but you notice a lot of pet hair, that could indicate they are not being truthful. You can tell if they are respectful to the property – are the kids running around, did they stop to wipe off their shoes? 

Screening Reports

Pull their credit and criminal history. Look for them to show up on the sexual predator and eviction lists. We share this information with the property owner because we want your input and approval. We’re looking for good tenant habits. If people take care of their business, we know that they will probably respect your property and your lease. 

For more details on how to screen tenants or anything pertaining to property management in Columbus, OH, please contact us at Solutions for Real Estate.

How to Be a Landlord: Beginner’s Guide to Real Estate Investing in Columbus, OH

Mitch Deminski - Tuesday, March 14, 2017

So, you want to be a real estate investor. That’s great. The real question is: do you want to be a landlord? Because, when you buy investment property, you need to know how to be a landlord. Some people think they can buy a property, and the cash just starts rolling in. But, you are starting a business and you have to treat it as such.

Real Estate Investing for Beginners

From day one, you need to know what’s expected, whether it’s protecting the property and its value or putting your investments in an LLC. You need to understand the fair housing laws, the lead based paint disclosures, and how to qualify tenants to make sure you get a good person in your property. It’s a huge learning curve, and you want to be prepared.

Professional Property Management

When I talk to new investors or people who want to start investing, I highly recommend hiring a professional property manager. There’s a lot you can learn from us. Maybe you’ll quickly see that you can save money and time by using management services, or maybe you’ll sign a one year contract with us and feel like you’ve learned everything, and you can go off on your own. If that happens, great. It means I have done my job. Maybe you’ll keep buying properties and as your portfolio grows, so will your need for experienced, hands-on management.

Income Opportunities

I have helped a lot of people get into the investing side of real estate, whether it’s because they want to diversify their 401K, or they want to replace their income. I love that part of it, and I get excited for people taking control of their own futures. That’s why I began investing. I didn’t feel like social security or pensions would be around and reliable. So, I started buying property about 18 years ago and I’ll probably keep on buying.

If you want to discuss your real estate plans, please contact us at Solutions for Real Estate. We’d be glad to help you out and tell you more about property management in Columbus, OH.

Tenant Selection by Property Managers

Web Admin - Tuesday, March 07, 2017

If you are a property owner considering Solutions for Real Estate for your property management needs, you might wonder how much control you will have over which tenant gets selected to live in your home.

Mitch Deminski of Solutions for Real Estate says lots of investors come to him thinking he is going to make all of the decisions for their properties, which are mostly located in the Columbus, Ohio area.

“That’s just not the way we like to work,” Mitch said.

Solutions for Real Estate will screen tenants: Handling criminal history checks, a credit application, checking to see if the applicant has been evicted before.

“At the end of the day, the decision is up to the owner,” said Mitch.

In this recent video, Mitch breaks it all down and explains his philosophy about the investor/tenant/property management agency needs.

Mitch believes that it’s important for investors to have input and stay informed – after all, it’s a partnership!

Recently, there was a property for rent during a slow time of year. About 300 inquiries were received before a prospective tenant completed a legitimate application. But when there was an application, Mitch said he sent it to the owner for review and input.

The owner, he said, has the final decision on whether to take or decline a tenant.

If you are wondering if Solutions for Real Estate should be your property management company, know that we work in tandem with investors to ensure the best possible tenant for your property.

Our team will communicate with investors and tenants each step of the process, making sure everyone is on the same page.

Mitch also has extensive experience in the Columbus market, having been an investor for 19 years. His instincts and knowledge mean investors can rest assured that everything is handled.

If you are an investor looking to work with Mitch and Solutions for real estate, please call us at (614) 846-3033. We can’t wait to meet you.

Columbus Real Estate Investing: How Much Can I Get for My Rental Property?

Web Admin - Friday, February 10, 2017

One of the questions I hear most frequently from people interested in real estate investing is: how much can I earn per month for my rental property? A lot of factors go into pricing your investment property, and today we’re breaking those factors into two specific areas.

 

Location of the Property

Location is always going to play a major part in pricing. If your home is in a great school district, you’ll get a great rental rate. If you’re next to a railroad track or a freeway, it will affect the rent you’re able to bring in.

 

Condition of the Property

You have control over your property’s condition. So, if you’re one of those people that has deferred maintenance or you’re not fixing things the way they should be fixed and windows aren’t working and the carpets aren’t cleaned, I won’t be able to help you. It’s necessary to change your approach to maintenance, and if you do pay better attention to property condition, we’ll probably be able to improve your property’s performance over the course of a year.

 

Improving Your Rental Potential

There are some things you can do to improve your property without breaking the bank. Paint and carpet go a long way with new tenants. Take care of issues that affect the value of your asset. Fix leaks. It sounds crazy, but a lot of people don’t want to spend the money on a new roof even if the property needs one. To maximize your rents, you can make other improvements at the property. Consider the replacement of your countertops and put in a new backsplash, for example.

 

There are lots of ideas to share, and we’d be happy to walk out to your property and make some recommendations. Please contact us at Solutions for Real Estate with any questions about Columbus property management. We’d be glad to share some thoughts.

Why Work with Solutions for Real Estate?

Web Admin - Thursday, February 02, 2017

 

You might wonder why Solutions for Real Estate should be your Columbus property management company. There are several good reasons to work with us, and today we’re focusing on three of the best reasons

Outstanding Communication with Owners and Tenants

I can’t tell you how many owners we have worked with who came to us for help after working with other management companies. The main complaint of these owners is that they hadn’t been able to find out what’s going on with their property. That blows my mind. If your property manager can’t communicate, that’s a huge problem. We have identified 11 different reasons to reach out to an owner; whether it’s money not coming in because a tenant didn’t pay, or a huge amount of money going out because of major repairs. We are responsive and communicative. Our policy is that when you open up your monthly statement, there shouldn’t be any surprises.

Local Knowledge and Experience

We have a lot of experience in the local Columbus market. I’ve been an investor for 19 years, and we opened Solutions for Real Estate 17 years ago. We presently manage about 370 units, and we have probably seen just about everything you can imagine. We have seen things go wrong, and our job is to reduce your risk and help you make decisions that will prevent mistakes. We will tell you what to do and more importantly, what not to do to ensure your success.

Positive and Growing Reputation

We have a great reputation in Central Ohio. We have been around a long time, and we can provide references from happy owners, tenants, and investors. We also manage properties for some of the top real estate agents in town, and they are happy to trust us with their clients.

If you’d like to hear more about us and the Columbus property management services we can provide, please don’t hesitate to contact us at Solutions for Real Estate. We look forward to talking with you.