Grand Rapids Property Management
Our Grand Rapids property management provides full service management for every kind of investment property from single family homes to multi-family dwellings and apartment communities. Our home leasing services include aggressive marketing and advertising, as well as extensive screening to ensure quality residents for your property. You can contract for home leasing services alone, or in conjunction with our management services for a combined low rate. With Compass’ Grand Rapids Property Management, you will never have unexpected charges. We look at every property as if it were our own, and treat our owner/investors the way we would like to be treated ourselves. One of the biggest potential expense for any real estate investor is vacancies. Everything we do is geared toward lowering vacancies to maximize our owners’ profits. We focus on great customer service and resident retention. Finally, our reporting is second to none, placing every piece of information that an owner/investor might need right at your fingertips. Owners are provided with online reports that they can access at any time, and their own personal property leader that knows the ins and outs of their property.
What can I expect with full property management?
What do property managers do for you? At Compass, we will do this:
- Leasing– Our advertising efforts are thorough and effective. We advertise on over one hundred websites, through relocation specialists, social media, at large businesses and schools, through word of mouth and more. Try to drive around the Greater Grand Rapids area without seeing one of our bright orange signs. You can’t. The minute we put a property live, our phones are ringing off the hook. No worry, even when we are closed, we are still able to let prospective renters set up appointments online. We miss no opportunity to fill your vacancy. We have 3 full time leasing specialists working hard at marketing and showing homes 6 days a week.
- Screening – Our application process is thorough and it makes sense. We understand how to minimize your risk by finding you a highly qualified renter. We check credit, rental history, income and criminal back ground history. We even check pet history if we decide to allow pets at a property.
- Lease Execution – Property leaders meet with new residents, going through the entire lease agreement together before move-in. We feel it is important for each tenant and owner to have one person that they can go to for what they need. Property leaders take the move in as an opportunity to meet each tenant and establish a relationship with them. This is also a great opportunity for resident education. Going over things as simple as how to plunge a toilet can go a long way in saving both resident and owner unnecessary costs. We even give each move in a new plunger, and couple rolls of toilet paper. It is always appreciated:)
- 24-Hour Maintenance – At Compass, we employ our own maintenance team. They are equipped with fully stocked vans that allow them to show up to your property ready to work. We avoid unnecessary trips to the hardware store by carrying essential items like smoke detectors, toilet flappers, locks and more with us at all times. Our prices are fair but our work is quality. Every single tech at Compass is lead certified through the EPA, and have the best customer service skills ever. We believe maintenance is not only key to property upkeep but also to tenant retention.
- Rent Collection – Tenants can pay online for free, and have access to their ledger at any time. We offer many ways for tenants to make payments. Our walk in office is right off the bus-line. In case of rent delinquency, our property leaders act accordingly. We act quickly, not allowing our tenants to get further behind. Our goal is 100% collected every month for every tenant.
- Legal Proceedings – Even picking the best tenants, and using the best rent collection procedures possible, tenants can fall behind. We manage everything from notices to court proceedings, including evictions if needed.
- We can handle every aspect here. We have inspection managers that do only city inspections all day, everyday. We have fostered relationships with each inspection department whether it be city or section 8. We know the code, and the most effective way to pass inspection, get the longest certification possible all while keeping residents happy and costs as low as possible. Property leaders make sure owner’s are notified of the process and present professional estimates for any work needed to be done. Even if you are out of country, we will supply you with pictures or videos so you can understand what you getting from our team.
- Surviving City Inspections – Click here to learn more about city inspections. In 2014, Compass Property Management was chosen to teach this break out session at the Rental Property Owner Association’s Annual Conference.
- Compass Speaks at MAHO – Click here to learn why Compass Property Management was chosen to speak on behalf of West Michigan Property Managers at the Michigan Association of Housing Officials Summer Annual Conference.
- We also offer bi-annual inspections for your homes by our maintenance team. During this time, we change furnace filters, inspect for safety and damage done by nature, normal wear and tear and tenants. All information is passed onto our property leader who will give you any needed updates and feedback.
- Our property leaders walk every vacancy. They know the move in and move out condition of every unit they manage. We keep their portfolios manageable by limiting the number of homes per property leader.
- Tenant Retention – We work very hard at keeping your tenants happy and comfortable. We understand high turn over rates aren’t profitable to our owners. Our leasing, management and maintenance teams offer the best customer service out there. They are driven by your tenant’s happiness. Every interaction is a possible lease renewal, and that is our goal.
- Utility Management – We make sure utilities are in the tenant’s name when they need to be. We pay owner paid utility bills for you including gas, electric, water and trash. Lawn care and snow removal are always on our minds. We know that the property owner is ultimately responsible for these items. You will never have to open another utility bill or manage it.
- Accounting – Our state of the art software can provide you with your own owner portal. You have instant access to rent rolls, owner statements, cash flow statements, maintenance reports and more. Want it? Just ask, we can create a report for it.
- Communication – Some owners require different amounts of communication. Our property leaders will meet that need. We can notify you of ever notice to vacate, move in, move out, inspection, maintenance requests that are above a certain amount, delinquency issues and more. Expect weekly updates on any vacancy from your property leader. We want no hidden surprises. Our goal is transparency.
What does a placement service get me at Compass?
Don’t need management? Just need someone to fill your vacancy?
Check out this page to learn more about our Home Leasing Compass Home Leasing Services
Free Management Quote
Is Professional Property Management Worth It?
The Rental Property Owner’s Association has a wonderful podcast series. A recent episode asked a question many of you probably have too – Is Professional Property Management Worth It? Click here to check out our quick read takeaways from the podcast.
Important Facts to Consider Before Deciding to Be Your Own Property Manager…
Many of our clients previously managed their properties themselves, in an attempt to maximize profits. They learned the hard way why it is best to let a professional management company handle their property. Today, with Compass’ Grand Rapids property management, they find that their properties are less stress, considerably less time consuming, and ultimately more profitable. Sometimes the most costly projects are those you underestimate before diving in. Here are some things you should know about property management in advance…
- If you mishandle a financial issue with a resident you can be sued for 3 times the amount of the dispute. Unfortunately many judges will rule against a landlord in such cases because it was the error that brought the case to trial even if the underlying principals of the argument favor the landlord.
- If you mishandle back rent, you cannot legally evict or collect once the tenant has vacated.
- Tenants often get free legal advice, landlords do not.
- A resident can legally withhold rent (or break a lease) for a number of reasons.
- Studies show that delayed or improperly handled maintenance issues are the number one reason tenants move out. Residents want issues fixed now, not next weekend when you have the time.
- Vacancy is the #1 expense when you are a landlord, however…
- Putting a bad tenant in your rental can cost thousands of lost rent dollars and result in expensive repairs.
Effective property management requires a unique skill set and knowledge base than most real estate investors, realtors, handymen or contractors possess. For more information see our blog article, “Do I Really Need a Professional Property Manager?”