Question 1

How does a property management company work?

Accepted Answer

A property manager takes over the day-to-day operation of your rental: marketing and showing the unit, screening applicants, preparing the lease, collecting rent, coordinating maintenance, inspecting the property, and sending you a monthly statement. You stay the owner and keep the decisions that matter, such as approving larger repairs and setting the rent, while the manager handles everything in between.

Question 2

What do property management companies charge?

Accepted Answer

In western North Dakota, monthly management generally runs about 9% to 12% of rent collected, with separate charges for tenant placement, lease renewals, and maintenance coordination. Our breakdown of what property management costs in North Dakota walks through each fee and what it covers.

Question 3

What should I expect from a property management company?

Accepted Answer

Clear reporting, fast responses, and no surprises. Expect a monthly owner statement that separates routine operating costs from larger repairs, a named person who answers when you call, inspections documented with photographs, and an agreed threshold above which repairs need your approval. If you are not getting those, it is fair to ask why.

Question 4

How do I choose a property management company?

Accepted Answer

Look past the headline fee. In a market this size the things that actually decide your return are vendor depth, winter emergency response, and how quickly a vacant unit gets filled. Our guide to the questions to ask a property management company covers what to ask to tell firms apart.

Question 5

What areas do you serve?

Accepted Answer

We focus on western North Dakota so we can stay genuinely local. That covers Williston, Dickinson, Watford City, Tioga, Stanley, New Town, Ray, Alexander, Ross, Keene, Trenton, Epping, Grenora, and Arnegard.

Question 6

What types of properties do you manage?

Accepted Answer

Multifamily, Commercial, Single family homes, quads, triplexes, duplexes, and townhomes. Not all properties and clients qualify. Once we walk the property, we can confirm whether or not we can properly service your investment.

Question 7

How do I access my financials?

Accepted Answer

All owners will have access to our online landlord portal which accounts for all income and expenses. It also provides simple access to your financial documents for your tax pro.

Question 8

How do you ensure tenants are taking care of my properties? How often do you inspect?

Accepted Answer

We inspect prior to move-in and take photos. Then, we inspect again at move-out. Inspections are documented and signed by the tenants. Further, if the property owner opts for the Landlord Protection Plan (LPP), we will do a pest control treatment, take photos, check and replace air filters and smoke detector batteries every four months.

Question 9

How do you handle maintenance and repairs?

Accepted Answer

Repair requests are first addressed with the tenant to ensure they aren’t missing an easy fix (e.g. operator error). Then, they are inspected to validate the need to spend money. If the cost is over $500, and does not pose a threat to the tenant’s safety (e.g. the heater dies in the middle of the winter), we will consult with the property owner with recommendations for resolution. After receiving confirmation from the owner, we engage proven contractors to handle the repair. On more extensive repairs, we will bid the work to ensure competitive pricing.

Question 10

Can you help me sell my property later?

Accepted Answer

Yes. As a professional courtesy, we work with your real estate agent to help you sell when you're ready. If you don't have an agent, we can help you as a licensed North Dakota real estate brokerage. We can also facilitate nontraditional exit strategies like lease/options and seller-assisted sales for tax relief. On occasion, we can even help you sell your property to the tenant occupying the premises for a discounted commission.

Common Questions From Property Managers

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