Matt is dedicated to the real estate industry, focusing on revitalizing properties and transforming them into welcoming homes. He has been featured in respected publications such as Forbes, Apartment Therapy, Reader's Digest, Bob Vila, Yahoo, and Go Banking Rates, highlighting his commitment and knowledge in the field.
Matt has a genuine passion for real estate and finds joy in bringing properties back to life. Whether it's a fixer-upper needing some care or a historic home looking for a modern touch, Matt enjoys seeing the potential in every project and working hard to bring it to fruition.
In his free time, Matt loves to travel and explore new places with his family. This love for adventure not only offers a refreshing break from work but also provides new ideas and inspiration.
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Are you juggling the responsibilities of a rental property while trying to grow your real estate portfolio? Before diving into Knoxville property management companies or spending thousands on property managers, consider this: the best property management services can help you maximize your rental property’s potential, but they also come with ongoing costs and challenges. Knoxville home-buying companies like Nexus Homebuyers offer a stress-free alternative to property ownership headaches. While property management might seem like a solution, many landlords find themselves frustrated with ongoing costs, tenant issues, and maintenance hassles – even with professional help.
As experienced cash buyers in Knoxville, we’ve seen countless property owners who initially tried the management route, only to realize that selling their property quickly and hassle-free was the smarter choice. Whether you’re dealing with difficult tenants, costly repairs, or simply tired of the landlord’s life, this guide will explore your options. We’ll break down what property management entails, but more importantly, we’ll show you why many property owners are choosing to sell directly to trusted buyers instead of taking on the ongoing challenges of rental management.
What are Property Management Services
Property managers are property management experts who take care of day-to-day tasks for property owners who have rental homes. Property managers help manage typical jobs like showing the rental property when it’s vacant, collecting rent, fixing minor issues like leaky faucets or replacing light bulbs, and much more. A property manager can also provide advice on how to make your residential rental unit attractive to potential tenants, including where to advertise your property, what to include in your listing (pictures, floor plan layout), and more!
As someone who owns a rental property, you will appreciate the help of a property manager. Property managers help with day-to-day tasks like collecting rent, screening potential tenants, and keeping in contact with your renters. In addition, they can offer legal counsel if needed (especially when dealing with difficult tenants), and they can also guide you on what expenses to expect.
If you’re looking for a helpful person to care for your rental property while you’re living elsewhere, then hiring a property manager is a great idea.
Benefits of Hiring a Property Manager
Hiring a property manager can have numerous benefits for property owners. Here are some of the most significant advantages of working with a professional property management company:
Save Time and Increase Efficiency
Managing a rental property can be a time-consuming task, especially if you have multiple properties or a large portfolio. A property manager can take care of all the day-to-day tasks, such as rent collection, tenant screening, and property maintenance, freeing up your time to focus on other important things. With a property manager, you can increase efficiency and reduce the stress associated with managing a rental property. Imagine not having to worry about late-night maintenance calls or chasing down late rent payments. A property manager handles these tasks seamlessly, ensuring your rental property runs smoothly.
Build Your Rental Portfolio
A property manager can help you build your rental portfolio by providing expert advice on property investments, market trends, and rental rates. They can also help you identify potential rental properties and negotiate purchases on your behalf. With a property manager, you can grow your rental portfolio and increase your rental income. Their insights into the local market can be invaluable, helping you make informed decisions that maximize your returns. Whether you’re looking to invest in single-family properties or expand into multi-family units, a property manager can guide you every step of the way.
Design the Life You Want
Hiring a property manager can give you the freedom to design the life you want. With a professional handling all the tasks associated with managing a rental property, you can focus on your passions, travel, or pursue other interests. A property manager can provide you with the peace of mind that comes with knowing your rental property is being well taken care of. This means you can enjoy your time without the constant worry of property issues, knowing that your investment is in capable hands.
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Best Property Managers in Knoxville TN
If you’re interested in working with a property management service, you’ll want to make sure to do your research and read reviews from other homeowners. Many of these property management companies work closely with real estate agents to ensure comprehensive services for property owners. In order to find the best Knoxville property managers, you will need to take a look at their portfolios and testimonials from past clients.
There are many good property management companies in Knoxville that can help with residential rentals. You’ll just want to make sure that any company you interview has a proven track record of success before hiring them!
Below is a list of the ten best property managers in Knoxville and public information regarding each one.
1. Brick and Mortar Properties
Brick and Mortar Properties is located at 900 East Hill Ave, Ste 110 in Knoxville. They offer several services, including:
Accounting & Bookkeeping Services
Financial Reporting & Analysis
Listing & Marketing Services
Property Leasing Services
Residential Property Management
Commercial Property Management
And more!
Brick and Mortar Properties currently has a 4.8 Google review rating.
Apex Property Management offers 25 years of combined experience in property management for single-family houses, condos, and multi-family townhouse/apartment units. They also have established great relationships with general maintenance personnel, pest control companies, cleaning companies, landscaping specialists, and contractors in the local area to ensure that the care/repair of your investment property is in high-quality hands. In addition, Apex has invested in advanced property management and accounting software to provide clients with the best quality service and manage properties more efficiently and effectively. Apex currently has a 3.9 Google review rating.
Coldwell Banker Wallace has been managing rental properties in Knoxville and surrounding areas since 1936. They have built a reputation of excellence in the care and management of both residential and commercial properties. Currently, they manage over 250 residential and commercial properties in the area. The Knoxville Coldwell Banker Wallace-Property Management company has a Google review rating of 3.7.
D&K Management, Inc. is a full-service property management company with over 45 years of experience in rural development, tax credit, and conventional apartment arenas. They also manage single-family homes, condominiums, and homeowner associations. D & K is currently managing several properties across Tennessee and in three other states. They are a family-owned company with an excellent reputation for providing owners with the highest quality customer service and being extremely responsive to all associated entities. Currently, they have a 3.7 Google review rating.
Asset Realty Management is a full-service property management company in Knoxville, TN. They can help with all your sales and property management needs. Whether you are a large company with multiple properties or a single-family rental, they have services and a system to meet your needs. They have also won the Best of Knoxville Business Hall of Fame Award in Real Estate three years in a row! In addition, Asset Realty Management has a 4.2 Google review rating.
Tenants Choice is run by FYVE. FYVE Tennessee, LLC represents and manages a wide base of rental owners and investors in Knoxville, Tennessee. Their property management services enable their clients to benefit by saving them time and money. The company employs general contractors and has established relationships with landscaping specialists, pest control companies, insurance agents, accountants, and attorneys in the Knoxville, TN area. Tenant’s Choice Property Management Services has a 3.6 Google review rating.
Inman Realty offers a full range of property management services tailored to you as an investor, homeowner, or landlord. They have an extensive portfolio of single-family homes, townhouses, condos, and apartments in the Knoxville/Maryville area. Inman Realty has a 2.3 Google review rating.
Tennessee Valley Realty Associates, LLC prides itself on being one of the most progressive property management firms in East Tennessee. They offer a full-service property management team that handles numerous time-consuming duties while solving the logistical puzzle many rental property owners face. They cater their services to portfolios of all sizes. TVRA has a 4.7 Google review rating.
Southland focuses on managing commercial real estate and has more than 25 years of specialized commercial real estate experience. They help make the ownership of commercial leased property a worry-free endeavor for the owner. They’ll work with you on your goals for the property, expenses, vetting new tenants, and preparing leases. Southland Realtors Commercial Group has a 3.9 Google review rating.
Brun Property Management is an independent, professional, insured, and fully licensed property management company in Knoxville, Tennessee. They manage over 500 units spread out all over Knoxville and the surrounding areas. They are a full-service property management company that specializes in enhancing property values and maximizing cash flow. Brun Property Management has a 3.4 Google review rating.
A good property manager should possess certain characteristics that set them apart from others in the industry. Here are some of the key characteristics of a good property manager:
Effective Communication
Effective communication is essential for a good property manager. They should be able to communicate clearly and promptly with property owners, tenants, and other stakeholders. A good property manager should be responsive to phone calls, emails, and other forms of communication, and should be able to provide regular updates on the status of your rental property. This ensures that you are always in the loop and can make informed decisions about your property. Whether it’s addressing tenant concerns or updating you on property inspections, a property manager with strong communication skills can make all the difference in your property management experience.
How to Choose the Best Property Manager for You
If you want to find the best property manager in Knoxville, Tennessee, there are a few things you should consider and key traits to look for in real estate professionals. First, make sure that they have experience managing rental properties in your area and the type of building (i.e., apartment complex or single-family home).
You also may want to run background checks on potential candidates before hiring them for your valuable asset. Start by looking at their website, social media accounts, and online reviews from other clients who’ve had similar needs as yours. Ask questions about how often they will be at the property and whether they can show references from previous jobs if possible – this is just one way to determine if someone would be a good fit for your situation!
You’ll also want to come up with any specific questions during the interview regarding how they’ll be running your property. Ask how they deal with emergencies, their background experience in real estate, what they charge for their services, etc.
Here are some sample questions to ask:
What is the annual fee for your services?
Do you have an office that I can access?
Do you provide refunds for vacancies?
How long will it take before I start seeing results?
Do you require a deposit?
How much experience do you have managing rental properties?
Will I receive regular reports of the status of my property?
What are your hours of operation, and how often can I contact you by phone or email when my property requires immediate attention?
Ideally, you want someone who responds quickly. When interviewing potential candidates, it’s also important to ask them if they manage any other properties near where yours is located to find out if they’re familiar with the area. You just want to make sure that whoever takes care of your investment knows all about it before signing over responsibility so there won’t be any surprises.
Ultimately, the most important thing to consider when hiring a property manager is if they can help you increase your cash flow even more than what it already is. If the person just manages properties and doesn’t have an active hand in getting rents or being involved, then they won’t know how much potential there is for revenue from that particular location.
Frequently Asked Questions
Q: What do property managers charge per hour?
A: Most property managers don’t charge hourly rates. Instead, they typically charge a percentage of the monthly rent and may include additional fees for tenant placement, lease signing, and property marketing.
Q: What is the difference between a property manager and an estate manager?
A: Property managers focus on rental properties, handling tenant communication and maintenance issues, while estate managers oversee entire estates, including personal staff, multiple properties, and broader real estate investments.
Q: What percent do most property management companies take?
A: In the Knoxville area, property management companies typically charge 8-12% of monthly rent, plus additional fees for tenant placement, which includes a comprehensive screening process and credit checks.
Q: How to tell if a property management company is legitimate?
A: Look for membership in the National Association of Property Managers, verified rental history, experienced staff, and regular monthly reports. Request references and review their available properties portfolio.
Q: How do you negotiate with a property management company?
A: Focus on their tenant placement services, comprehensive screening process, and property marketing capabilities. Compare their hand-picked list of services against other real estate professionals in the area.
Q: What is the most common payment for a property manager?
A: The standard payment structure includes a percentage of monthly rent plus fees for finding quality tenants, move-in coordination, and advertising vacant properties.
Q: Who is higher than a property manager?
A: Regional supervisors and real estate investment managers typically rank above property managers, often overseeing multiple properties and coordinating with great tenants and maintenance teams.
Q: How much do most rental management companies charge?
A: Companies like Tri-Star Management Group typically charge 8-12% of monthly rent, plus fees for tenant placement, regular inspections, and ongoing property maintenance.
Q: Can a management company be a landlord?
A: Yes, management companies can act as landlords, handling lease signing, tenant communication, and maintenance issues while representing the property owner’s interests.
Q: What are the basic functions of a property manager?
A: Core duties include finding good tenants through comprehensive screening, handling maintenance issues, conducting regular inspections, and managing tenant communication and property marketing.
Final Thoughts
Property managers can help you get a better return on your investment and, if needed, help you take care of repairs throughout the year (which could add up quickly). But if you’re dealing with a troublesome property or tenants, selling the rental property may be a better solution. An experienced cash home buyer in Nashville, Knoxville, or Chattanooga, can buy your property with cash and handle all of the repairs, tenants, and other challenges that come with owning a rental property.
One top-rated real estate investor- Nexus Homebuyers, comes highly recommended in these instances. They have helped numerous homeowners sell homes quickly without having to deal with tenants or the hassle of being a landlord.
In some cases, homeowners who own rental properties can pay off debt or fund an early retirement by deciding to “sell my house fast” instead of interviewing and hiring a property management company.
