The typical property management model can be described a service, meaning one party (the investor/owner) hires another party (an individual or company) to oversee the tenancy of an asset. A fee for services is agreed to and the process begins. The investor/owner has certain needs/expectations of the property manager and of the tenant (i.e., pay/collect rents, monitor tenants, minimize expenses, protect the asset, and make money). The tenant also has needs/expectations of the investor/owner and the property manager (i.e., make prompt repairs, make improvements, be understanding of life unexpected encumbrances, and save money). The property manager tries to meet the needs/expectations of both, by forcing the investor/owner’s needs and expectations onto the tenant while spending the least amount of time possible doing so. After all, property managers are in a business and want to make money, too.
The result: an adversarial relationship is formed between property manager and tenant as the property manager uses the “black and white” terms of the rental agreement to either refuse a maintenance request or to force tenants to perform, which aggravates tenants, which leads to conflict and vacancies, which leads to lost rent and increased costs to the owner, and a search for another tenant who is less likely to have issues.
There is nothing wrong with the “typical” property management model as long as no laws are being violated. If that is the method of property management you believe in, by all means, keep doing it. Rent Ready Property Management takes a different approach.
As we see it, property management more like a partnership than a service. Many successful new business startups and joint ventures came about because one party had some knowledge, skills, and abilities while the other party had the capital to invest. They joined forces with each other to achieve a common goal of receiving a return on their investment, or simply, to make a profit.
Our philosophy: Property management is a joint venture between the investor/owner and our company. We provide a unique set of knowledge, skills, and abilities and the investor/owner provides the capital (the rental property). We learn together and pool our resources to help each other. We share in the profit earned as agreed, and when we make a profit, we both win together. If we lose, we both lose together – in the form of reduced profits or financial losses, damages to reputation and relationships, and lost time and wasted energy for our efforts.
Rent Ready Property Management understands that between the “black and white” of property management, there is a vast world of “gray”. Our holistic approach to property management allows Rent Ready to take care of not only the owner’s needs, but the tenant’s needs as well. By providing a firm foundation of the tenancy with well screened and informed tenants, a rock solid rental agreement, and clearly defined expectations, Rent Ready is able to provide owners with a property management experience that is unlike any other offered in Yakima.
OUR MISSION STATEMENT
Rent Ready Property Management will be recognized as one of the premiere property management firms in the Pacific Northwest. Our entrepreneurial attitude will separate us from the typical property management firm. By using our innovative management strategies, current technology, and team of professionals, we will strive to create a mutually beneficial relationship with all of our clients.