"It's only when the tide goes out that you learn who has been swimming naked" -Warren Buffett
What You Don't Know...
Unfortunately, the old saying "what you don't know can't hurt you" doesn't apply to managing a property. All too often clients find us after a DIY management attempt, only to find themselves on the losing end of local laws and compliance. Most homeowner understand the basics of fair housing laws, but have not been trained on the subject. For example, would you know if your home falls into an area where 'source of income' is a protected class? Or what's legally required to tell inform an applicant they have not been selected to avoid litigation? Even a frivolous lawsuit can cost you thousands because its a cheaper option than fighting your case in court.
Starting Strong
Let us help get you a clear picture of renting your home before you even begin. Online tools like Rentometer are a good start, but by having licensed realtors on staff we have access to a house-by-house breakdown of past rentals. Know exactly what homes rented for and in what condition. After we determine the rental price, we will guide you through a budget to assist in understanding typical rental expenses, so you can save when needed and remain profitable.
Real-Time Financial Reporting
When working with Goddard, you'll receive an Owners Portal, which allows you to track all profits and expenses at any moment. Report your taxes in 5 minutes with a simple print-out. All profits will be recorded and expenses to allow you to maximize your write-offs for the year. With the help of your CPA, we can guide you through this entire process.
Full Service
At Goddard, our goal is to educate our clients on the rental process and then handle every aspect for them. We start with a pre-planning consultation, detailing the market and advising on any needed changes to make the home rent-ready. Next we begin a marketing campaign, advertising on every major rental outlet and the Multiple Listing Service. All tenants are vetted through a rigorous background, credit, and eviction process before being selected. We setup each tenant for success, which ensures your property is better maintained. Finally, we directly deposit the rent into your checking account, saving you time and ensuring your mortgage can be paid on time.
Quiz your Knowledge:
Being out of compliance with what state law carries a penalty of $500/day?
In which counties can you be fined for refusing a housing voucher?
What are the ONLY two questions you can ask about a service animal without violating fair housing?
What document are you required to provide to everyone who completes a rental application?
There are hundreds of examples like the questions listed above.
When you hire a professional property manager you are hiring for knowledge and experience, not a rent collector
