Matt is an experienced professional when it comes to real estate investment and property management. He has proven his ability to successfully manage multiple investment properties and maintain quality tenant retention. CREI Magazine recommends Matt Grander and NJG Inc.
Steve Boyles
Owner, Chicagoland Real Estate Investor Magazine (SAM JR Enterprises, LLC)
Renting
Finding and retaining the best tenants may be the most important part of the investment process. Not only do good tenants stay longer and pay on time but they often become long term friends that are entrusted to take care of the most significant asset you own after your primary home.
Mistakes in this area are painful and can be emotionally and financially stressful. Grander and Associates has a record of accomplishments of being both detailed oriented as well as thorough and fair in their selection of the best tenants. Listed below are some of the founding principles of finding good tenants:
- “Nice properties equal nice people”, always offer something of value and people will treat the property better.
- Have high expectations of joint responsibility to keep the property in very good shape.
- Have open communication to discuss any problems with the property or issues in keeping up the property. Always conduct a two way conversation between property manager and tenant to discuss expectations and any issues regarding the property.
- Set clear expectations for timing of payments in return for supplying an above average property and the penalties and ramifications for not living up to obligations. Always put all agreements in writing.
- Create an environment in which tenants want to stay in property until a life event changes the need for a new type of property.
- Have a legal, fair agreement in writing that all parties have a copy of and can refer to if ever in question. When agreements are done properly they are rarely referred to.
- Set up simple transfer methods to make payments.
- Conduct regular inspections and handle all problems in writing including following all rules and legal regulations if a lease is not honored by either party.
- Owner and property managers must do careful background and character checks of all candidates. This work must be done by seasoned professionals, always!