I get asked all the time "what is the cost to have someone manage my property in Shreveport / Bossier City."
Well, there are a few different answers to that. My Property Manager, LLC is the only company that I know of that openly advertises our rates. I've looked on many other websites and I am yet to see another local company advertise their rates.
In the Shreveport / Bossier area, I know two of the largest property management companies charge $120 and $135 minimum per home. Frankly, I'm blown away that they charge that much. Another thing that makes My Property Manager so much different is that we don't charge when the home is vacant. If we're not collecting rent, we're not charging you.
There are a few other costs you may encounter. We don't charge an on-boarding fee like most other companies. We welcome your business, so why would we charge you for bringing your home to us? We also don't charge for basic maintenance. It's unacceptable to me that other companies nickle and dime you and charge you a 10% mark up for repairs.
Like other companies, we do charge a lease fee to cover our expenses of renting the home. This is very labor intensive since we have to market the home, show the home, complete two move in inspections, file and create the leasing paperwork, and handle the application / vetting process of tenants.
So if you're looking for a property management company in Shreveport / Bossier City, don't pay high fees. Just give My Property Manager a call and we'll always take care of you.
This month, I had every tenant pay rent on time. This was less a happy accident or coincidence and more by design. I'll explain.
With every house I rent, I carefully screen the tenants. I've found there are little things you can look for to predict someones ability to pay on time and be a good tenant. Every tenant is a gamble but a carefully calculated one.
For example, I recently rented out a home in Sunset Acres. I had three different applications, all submitted the same day. Ultimately, I chose the candidate that just about every other company would have passed on. Why? That candidate had the least amount of income of the three, but alternatively, they had the most stable work history (6 years at the same job) and the job they had was essentially recession and COVID-19 proof. The other two had more income but lower credit scores and multiple past due bills. Income isn't everything.
Now, selecting a tenant like I did isn't always an option since Fair House guidelines must always be adhered to, but when it is an option, sometimes the person that looks best at first glance isn't your best option. This is how I've come to improve my tenant selection process and ensure I get the best renters in the area, which leads to the happiest owners.
If you ever have questions about renting your home in Shreveport or Bossier City, or property management in general, don't hesitate to reach out to me.
Anytime the subject of squatters is brought up, people usually think of the horror stories of California and the squatters that take a year or more to evict from a property. Thankfully, while squatters are present in Shreveport / Bossier City, they're not a common sight.
So how do you deal with squatters and how do you prevent them? I'll discuss both briefly in this blog.
First, preventing squatters means ensuring any investment home or rental home is secured. Make sure the doors and windows are locked and someone is occasionally keeping an eye on the home. My secret to doing this was finding a neighbor on the street to watch the home for me. This is typically someone who is a homeowner and has an investment in keeping the street on the up and up. There have been plenty of times a neighbor called me about suspicious circumstances at the home. Most of the time, it was a lawn person or possible tenant looking at it, but a few times that call prevented a burglary or a squatter. Making sure someone is watching the home and it is secure is a great prevention step.
Lets say someone does get in. It can go one of two ways. First, if certain conditions are met and they aren't considered legal squatters yet, they will be arrested. This happened in 2017 in a house I was managing in Shreveport. A man moved his stuff in and claimed to be living there. I didn't know who he was or where he came from. I soon after called Shreveport Police and explained the situation, as well as why he was not a squatter but was in fact breaking and entering. A supervisor was called and I again explained my point of view, reminded him of the law, and why he should be arrested. After hearing both sides of the argument, and the facts, the police agreed and he was arrested.
The second time it happened, I was less fortunate. I had just taken over management of a house after the prior management company wouldn't communicate with the owner. I found squatters in the house and had to go through the eviction process. A 10 day notice period followed by court. By the time the court date came around, they were gone.
So while I wouldn't call squatters common, they aren't non-existent and something a good manager should be seeking to prevent. If you have more questions on this subject, squatters in Shreveport or Bossier City, or property management in Shreveport / Bossier, don't hesitate to reach out to me.