Property Management

Property management is the most important aspect of owning cash-flowing investment properties.  Good property management can make or break your investment.  You can buy right, you can renovate right, but if you don’t collect rent and keep down expenses, everything you’ve done will be wasted.  Without efficient property management, you risk longer and more frequent vacancies, late or non-rent payments, and property damage.  Finding a good property manager can be as difficult as finding a good auto mechanic.

Why Should You Hire a Property Manager?

Save Time

Managing a property takes time – lots of time.  Think about how many different things need to take place before rent is going into your pocket.  A house must be in rent-able condition.  In a dream scenario, one would be able to rent a house in no time flat.  They would need to do no work to get the house in show condition.  They would post one classified ad for the available rental and put the sign in the yard.  Multiple calls would flood in from interested parties.  On the first showing, an applicant fills out the application, puts down a deposit, and declares they are ready to move in this weekend.  This applicant passes a background check with flying colors and becomes your best tenant.  You don’t hear from them again until it is time for them to renew their lease.  Unfortunately, rentals rarely unfold that way.  Someone needs to go scrub that house to get it sparkling and ready to show off to new prospective renters.  Ads will need to be posted and re-posted to achieve top of page status on numerous websites.  A handful of applicants might not be worthy of your rental.  It’s better to wait for a good tenant than get stuck with a bad one.  Once you find a qualified tenant, you need to sign them to a lease.  Where do you get one of those?  Does the lease favor you or the tenant?  Is it legal?  A good property manager can take all of these issues off of your plate saving you valuable time.

Save Money

Many amateur landlords believe that by self-managing their rental properties, they will save roughly the 8-12% fee they would have paid the management company.  It’s not that simple.  Good property managers have relationships built with tradespeople, repairmen, and handymen that can save you lots of money through volume discounts.  Who do you think a HVAC installer will give a better price to – a landlord with one house or a property manager with a portfolio of 150 properties?

Why Should You Hire Diamond King Realty to Manage Your Property?

  • Fair fee structure – You pay us for results, not effort.  We also do not up-charge maintenance calls.
  • The owners of the company are landlords so we know how vital property management is for the real estate investing experience.
  • Licensed Real Estate Broker in Missouri
  • Certified Property Management Specialist by the American School of Real Estate
  • Thorough and uniform screening of applicants keeps you Fair Housing compliant and increases your odds of having high quality, punctual rent paying tenants
  1. We Don’t Charge a Dime until the Lease is Signed – We shouldn’t be making money unless you are!
  2. We advertise your property more extensively than our competition, saving you days on market and putting more money in your pocket.
  3. We show properties from 9 AM to 8 PM 7 days a week…or when the tenant prospects need to see the rental.  With prospective tenants, it is imperative that they see the property when they want to see it, or else they’ll find another house to rent.
  4. We are a licensed Real Estate Brokerage.  We are trained professionals who know how to negotiate and facilitate the rental process.  We will get the highest possible rent for you.
  5. We are landlords.  We have years of experience in renting and managing our own rental properties.  We’ve had success and made mistakes on our own properties, so you can gain from all of our knowledge and experience.
  6. We don’t nickel and dine you on maintenance calls.  Some management companies will mark up services by 10-20% of the bill.  If your toilet is leaking, why should you pay two companies to fix the problem?  Our contracts don’t contain any clauses that allow us to profit more when you profit less.  Our goal remains to get you the maximum amount of profit as possible.
  7. We offer Leasing Only services to those who don’t need full property management.
  8. We seek out tenants who will sign long term leases.  71% of our tenants sign leases for terms of longer than 1 year.  Having a tenant signed up for a lease of 18 months, 24 months, or 36 months offers you more financial security going forward.  Long term leases help protect you against vacancies.
  9. Our screening process is uniform and Fair Housing Compliant.
  10. We Never Forget that We Work for You.  Some property management companies get confused about whether they work for the tenant or the property owner.  We have a fiduciary responsibility to our property owners to maximize profits.  That means finding the highest quality tenants, reducing maintenance costs, and reducing vacancies.