Does your property need a little refreshing? Or is it not habitable? No matter the extreme, WILMOTH Project Management Services will provide you the solution to bring the property to market!
A professional manager who offers Project Management services will be able to manage and resolve all of your expectations for your property. A Project Manager oversees bidding, selection and work flows to ensure a quality remodel. Most importantly, your Project Manager is a fiduciary for your investment funds.
One of the biggest challenge property managers face is finding and retaining great contractors. The nature of the maintenance and contracting business is such that if you are good, word gets out and you get real busy. The busier you are the higher you have to price your work until you are not as busy. It is a never-ending cycle.
About ten years ago we frequently learned one of our owners was in default. The owner was collecting the rent proceeds and not paying their mortgage payment. Fortunately, this issue is not as common today. Occasionally it does still occur and the problems created caused us to take action. It is recommended that a well written property management agreement (PMA) addresses the issue of foreclosure. The suggested clause to be created in a PMA is the owner’s duty to avoid foreclosure.
A project manager is a beneficial partner for investors in bringing their property into marketable condition. Utilizing the experienced property manager for this service is smart due to the shared vested interests of both parties. It also coordinates objectives instead of using different partners with potentially conflicting interests.
The US Consumer Product Safety Commission and HUD have stirred up some controversy by siding with the National Association of Home Builders (NAHB) that not all electrical wiring in a home with defective Chinese drywall needs to be replaced.
Ready to rent your home or property? Let's schedule a time to talk. The experts at WILMOTH Group have more than 25 years of experience in property management in the Indianapolis area.