Owner FAQ
This FAQ is for people who are interested in partnering with us to manage their property.
1
I'm interested in having The Prosperity Homes Team manage my property. What's the next step?
Please email us at help@prosperityhomes.team or send us a message via the Contact Us form so we can send you an overview of our program.
2
How is working with PHT different than other property managers?
We only get paid when you do so we are highly incentivzied to find the best occupant possible for your property.
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We primarily communicate via email and text so if you strongly prefer communication, we may not be a good fit for you. Written communication is more efficient and lowers misunderstandings because there is a record of what was said and when.
3
Do you only manage long term rentals?
We manage long term and short term rentals. Short term rentals are properties that are both managed AND furnished by us.
4
What are the pros to a short term rental?
Renting your property short term can often double its cashflow.
There is also less wear and tear on the property.
Someone from our team is at the property for every turnover so it stays in excellent condition at all times.
5
What are the cons to a short term rental?
Not every property will work as a short term rental. Some properties are badly suited due to regulations and/or property specific issues such as limited parking.
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The income usually varies, it is higher in the spring/summer/fall and lower in the winter.
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The property must be kept in excellent condition at all times to garner the highest rents.
6
How long will it take to rent my property?
The timeframe it takes to rent a property is totally market and season specific. Properties rent much faster in the spring and summer and slower in the fall and winter.
7
Is there any reason I shouldn't rent my property?
If you do not have access to at least three months of reserve funds (mortgage/taxes/insurance/maintenance), renting your property is not in your best interest as it will be stressful to pay two mortgages. We require all of our property owners to certify that they have three month's of reserves before we take on managing a property.
8
Do I need to get a home warranty?
A home warranty can prove useful if your property is older however we've found that overall, it is cheaper to go without.
9
What can I do to prepare my property?
Fix EVERYTHING that you can find that is wrong with the property now. It is easier AND cheaper to fix issues before a property is occupied than after. Even simple things that don't seem like a big deal should be fixed. A sticky lock will become a problem if someone gets locked out.
10
I want to refer someone to you, what's the best way for them to get in touch?
Please have them email help@prosperityhomes.team. Thank you!
More questions? Get in touch.
If you have a question that wasn't answered above, please email us at help@prosperityhomes.team