As a partner with WILMOTH Group in Indianapolis, you have access to some of the most experienced professionals in the industry for property management services. We work with you from the very beginning to ensure you have the proper documents and other essential information to ensure a smooth transition. Joel Wilmoth, co-owner of WILMOTH Group, explains part of the process after signing an agreement for property management services.
The number one challenge that we face with property owners who are transitioning to WILMOTH Group – and this could be a property owner with a new acquisition or an owner who’s leaving another management company – is the owner not knowing or having complete information regarding the status of their property. When we begin providing management, we often struggle to obtain tenant information, complete leases, accurate ledgers, the owner may not know where their security deposit is located. So this lack of information can leave a lot of holes that we need to fill. It’s our commitment to the owner that we bring them and their properties on board and make it a smooth transition, so the first step for us is to find solutions to those holes on their information. If there’s not a complete lease or just a poorly written one, we have to determine if a new lease can be obtained. If the ledger is incomplete, we have to reach out to whoever maintained that information previously and ask them to reconcile it.
One of the first things we need to do is introduce ourselves to the tenant. A new property manager can create concerns and confusion for tenants who are part of the transition. We personally go to the home and introduce ourselves. We provide them with our tenant manual and a refrigerator magnet with specific instructions for how to reach us by phone or email or however they prefer, how to report maintenance issues, and, most importantly, how to make their payment in person or access their online tenant portals for their rent payments.
We strive for our owners to have a smooth transition to WILMOTH as our new tenants. To make this happen, we work quickly to identify the holes and find solutions as soon as the management agreement has been signed. It is our commitment that a new property owner with WILMOTH will have lots of information quickly about their investment. We want them to be satisfied that as their partner, we are working diligently to provide a positive experience. In a positive cash flow from their investment.