A condo property management association, like RISE in Houston is something most investors inquire about before even going to look at a condo for sale. Investors know that managing property is hard work and left in the hands of a novice it can be costly. They also know that having a condo association board run things without the expertise of a property management association can result in regular unexpected assessments or legal tangles. They know the value add of a good property management association.
The property management association value.
Most buyers, investors or not want to make certain that a condominium property is being run properly, making it financially stable. In Houston, investors are savvy and know the right questions to ask. Having a company like RISE on your side to answer those questions makes your condo much more appealing.
Aside from asking the usual can we rent a unit we buy in this condo property, investors want to know things like what percentage of units are rental and what those average rental rates are. Many want to know the demographics of the residents; mostly single professionals, young couples, elderly or families with children. Then they want the deeper financial information such as:
- Is there a reserve fund and is it adequate?
- Does the property management association offer individual unit rental management for an additional fee and what does that look like?
- Are tenants screened to make sure they can meet their financial obligations?
- What is the process for collecting monthly/yearly condo fees and how are those fees utilized?
- Who handles the risk analysis for the physical property and what is their level of expertise?
- What do the financials look like for the property?
They want to protect their investment and they know that the property management association is the key to making this happen. A property management association like RISE gets personal with your condo property; with experts in every aspect of condominium management under one roof, they have the power to answer the tough questions Houston investors have.
I’m not an investor, so why should I care about the property management association?
I always love it when people tell me they don’t need to worry about things like property management association choices because they are not an investor. Really? Want to think about that a little more before you stand by it? Get ready, buying a home or condominium to live in is one the largest investments most of us make in our life. WOW, that would make you, as an owner, an investor; that is the reason you need to make sure you have a top of the line property management association like RISE in Houston.
Protect your investment by making sure it is managed by the BEST property management association in Houston. Give RISE a call and explore what RISE can do for you. You can visit their website at riseamg.com or request a quote by contacting RISE at (713) 936-9200 or [email protected]. RISE will protect your investment.
