FAQs
- What should the customer know about your pricing (e.g., discounts, fees)?
The industry standard for property management is 10% of the monthly rent on annual leases, and 25% for short term rentals. These rates vary depending on the size of portfolio and what type of property. CoastalCo Property Management charges very clear and upfront rates & fees which will be clearly stated in our agreements. Our standard management fee is 10% of the monthly rent for residential properties or small portfolios. Unfortunately, many property managers (in South Florida specifically) will tell their clients they are not charging them any fees but will mismanage funds and take their clients trust for granted. Please beware of these practices. In this field, it is very difficult to stay in business if you are charging less than the industry standard, yet some will over promise and underperform in order to make money - hurting the image of our industry. 🔑 In the end, the cost of a quality property manager is well worth the investment. You will : - save yourself the headache of tons of calls from tenants for things like clogged toilets in the middle of the night. - save yourself from the nightmare of building and maintaining personal and business relationships with each tenant, which quickly becomes a disaster when it comes to late rent or evictions. - confidently collect your rent each month knowing your property is being well taken care of and that any issues that arise will be handled promptly and efficiently. - save money by avoiding long term vacancies when searching for a tenant. - and so much more!
- What is your typical process for working with a new customer?
When a new landlord inquires, we schedule a phone consultation to evaluate the clients needs. If the client is looking for full property management services, we go over our rates and fees as well as what’s expected of them and what they can expect from us. Once we’ve gone over the details, we sign a 12 month agreement which lays out all the terms discussed during the consultation. After agreements have been signed, the landlord will usually deposit a “reserve fund” into a trust account that is used to ensure proper maintenance funds are available. Once this step is complete, if vacant, we schedule a visit to the property to evaluate the condition and then schedule any necessary repairs and listing photography. The client can expect to have a tenant in place quickly and start recovering rent right away in most cases.
- How did you get started doing this type of work?
Brad originally started managing properties for a single landlord with 35+ properties in Palm Beach County ranging from budget condo’s to luxury homes & townhomes. Over the years, Brad has expanded his business to grow throughout Florida - expanding to Broward County, Miami Dade and even Central Florida, covering Orange, Oceola, Seminole and Brevard Counties. Brad has established lots of relationships with important vendors that have helped grow his business into what it is today, which is much more than property management. He has also built has a strong residential and commercial real estate sales team as well as owning investments of his own. Today, Brad prides himself on the business he’s built which helps solve the issues many landlords face when dealing with their properties directly. CoastalCo is a company which exists to create harmony in the landlord-tenant balance act and leaves everyone happy and at ease.