Your Questions, Our Expert Answers
Property Management
Is WPM licensed?
Yes, Wisconsin Property Managers is fully licensed. We hold a State of Wisconsin Broker’s License, ensuring compliance with all legal requirements for real estate transactions. Additionally, we possess both personal and business Dwelling Contractor Licenses, enabling us to provide a wide range of property management services. We are also proud members of the National Association of Residential Property Managers (NARPM), which highlights our commitment to maintaining high industry standards and continuing education.
Does WPM own any units?
No, Wisconsin Property Managers does not own any of the properties we manage. We exclusively manage properties on behalf of third-party clients, focusing entirely on providing expert management services to ensure the success and profitability of our clients' investments.
Does WPM manage associations?
No, Wisconsin Property Managers does not manage homeowner or condominium associations. We specialize in managing residential rental properties for individual owners and investors, providing tailored property management services to meet their specific needs.
What services does WPM provide as part of the property management agreement?
Wisconsin Property Managers offers comprehensive, full-service property management designed to cover every aspect of real estate ownership. Our services include tenant leasing, rent collection, routine and emergency maintenance, property inspections, and more. We handle all the day-to-day operations, allowing you to enjoy the benefits of property ownership without the hassle.
What is Wisconsin Property Managers' fee structure?
Our fee structure is tailored to each property management agreement and depends on factors such as the number of units, rent amounts, and specific services required. For a personalized quote that aligns with your property’s needs, please reach out to us directly. We’re happy to discuss the details and provide an accurate estimate based on your unique situation.
Can I view my financial statements online?
Yes, you can view all relevant financial statements in real time through your secure owner portal. The portal also allows for direct owner contributions online, giving you the ability to manage your account efficiently. With up-to-date information always at your fingertips, you can stay fully informed about your property's financial performance whenever you need it.
What are the steps to having Wisconsin Property Managers manage my property?
The process is simple and straightforward:
- Initial Consultation: Start with a call or meeting with our Sales Manager to discuss your property and management needs
- Customized Quote: Based on the consultation, we will provide you with a detailed written quote outlining our services and fees.
- Property Walk-Through: A staff member will conduct a thorough walk-through of your property to assess its condition and gather important details.
- Management Agreement: Once you're ready to move forward, we’ll execute a management agreement and begin the onboarding process, setting up your property for successful management.
How long is the property management agreement for?
Our property management agreements typically begin with a one-year term. After the initial term, the agreement is renewed annually, ensuring a flexible and ongoing partnership tailored to your needs.
Can you pay bills for me that are related to the property?
Yes, we can handle payments for bills related to the property, such as utilities and maintenance costs. However, payments for the mortgage, insurance, and property taxes are the responsibility of the property owner and are not included in our services.
Do you charge a leasing fee?
No, Wisconsin Property Managers does not charge a placement or leasing fee when a new lease is signed. However, we do charge a releasing fee of $150, which helps align our incentives with property owners to minimize vacancy and ensure smooth lease renewals. Our goal is to provide value through comprehensive property management services while minimizing costs for our clients.
How do you screen residents?
We believe that leasing is one of the most important aspects of property management, and we consider it to be 90% of the work. Our screening process is designed to ensure we place reliable, long-term tenants in your property. This includes a custom rental application and a thorough background check through Equifax. During the screening, we evaluate factors such as credit score, criminal history, rental history, job history, and income. We also require proof of income for all applicants. By considering these key factors, along with proprietary criteria, we aim to secure tenants who will be a great fit for your property and remain long-term.
What is your marketing strategy for leasing units?
Our marketing strategy is designed to ensure maximum exposure for your property. We list all available units on major apartment listing sites, including but not limited to Apartments.com, Rently, Rent.com, Zillow, Zumper, and many others. In addition to online listings, we utilize signage, word-of-mouth marketing, and maintain a robust list of pre-approved applicants who may be a perfect fit for any available unit at any time. This multi-channel approach helps us reach a broad audience and minimize vacancy periods.
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