Professional Asset Management and Real Estate Sales Firm
Frequently Asked Questions for Us as Property/Asset Managers:
You mention Property Manager versus Asset Manager, What is the difference?
A Property Manager takes care of the day to day items that arise in a property, while an Asset Manager looks at the whole picture, including taxes, purchases, sales, applying multiple techniques and strategies, and looks at the Investors goals holistically. Not just the property as a single piece.
Is Natod better at Property Management or Asset Management?
Both. In todays market, you have to know how to be both, and when to apply a particular strategy, or set of strategies and when to simply manage a property.
What is Q.O.L, and why is it important?
Q.O.L to us stands for "Quality of Life". It is the reason we love Real Estate and other Investment vehicles, because we can improve our "standard" of living, without working harder and longer hours. We also love leverage and apply it as often as possible.
What is N.O.I and why is it so important?
NOI=Net Operating Income. And WOW! The amount of Investors that do not know what NOI is astounds us! If your current Management Company is not explaining NOI to you, FIRE THEM TODAY and CALL US!!!
Why aren't your services "less expensive" or the same as "the other guy"?
We have no interest in becoming the least expensive Property Management Company in town. We creatively solve problems, which ultimately makes us the "less expensive alternative" in the long run.
Why should I choose Natod?
One word-Education. We believe that if you want quality, and in Real Estate you will probably want quality, therefore, we believe education is the key to longevity.
What needs to be done to my house?
The better condition your property is in, the better quality tenant we can attract and the longer the useful life the Asset will have. This means that the property should be clean, everything should work as it is supposed to, and things should be in good repair.
What should my house have in it or look like?
It is best to have no personal belongings other than window coverings on the windows, such as blinds or drapes, and depending on the time of the year, snow removal or lawn care should be done prior to the home being shown.
What do I need to do or have in order for Natod take over?
All documents must be signed by both parties, and all applicable fees must be paid.
What is the startup process?
Before finalizing all the agreements and collecting the fees, we will go through your property and make note of the condition and what we would suggest being done and what is required to be done. You would then meet with your Property's Manager to setup a timeline for repairs, a budget, and/or goals as needed.
How will you find tenants and how long will it take?
Once we start management your property is added to our list of available properties, ads are run as needed and the process to get the unit occupied is under way. Time to fill depends on the market, check with your P.M. to see the current wait times.
Can I say who I want as tenants for my house?
No, not normally. We will make that determination based on the Law, sound business principles, and any applicable rules and regulations. If you are interested in the day to day selection criteria of tenants, you should probably be managing the property yourself.
Can I restrict someone from renting my house?
No, not normally. We do not discriminate against any protected class under the federal, state, or local fair housing laws. Because of this, it is best that you stay out of the selection process.
If I am to stay out of the selection process, why am I responsible for the choice of Tenants as stated in the Agreement?
Ultimately, you, as the Owner, are responsible for everything that goes on in your property, as we have no "interest" created by our Management agreement. Upon Natod assuming control of the property, we are acting as if you were standing right next to us looking over our shoulder, but ultimately, it is your property and you are responsible.
How do I know Natod will do the "right" things when it comes to renting my property?
We are professionals in leasing, sales, negotiating and abiding by the law. We have specific criteria that every applicant has to
pass in order to rent your property and we take on your property with the understanding that we would want to manage it the same way we would want our properties to be managed.
When do I get my money each month?
On or around the first week of the following month. The monthly statement is uploaded to your portal and the checks are sent (or deposits made) the same day.
What if I want copies of all the expenses?
Then you should be managing the property yourself. Our reports are set up to be accurate, detailed records of all income and expenses, that can simply be handed to your tax preparer and a tax return filed accordingly.
What happens if I pay some expenses on the property myself?
Then those expenses will not be included in our reports, and you could in essence have "two sets of books" for one property. This is not only very inefficient, but makes things that much more difficult come tax time.
Who does the repairs on my property?
Our people. The tenants do have responsibility for some of the maintenance on your property but in most cases, when repairs need to be done outside the scope of the tenant’s responsibility, we would have one of our in-house maintenance technicians or one of our sub-contractors handle the job.
Do you offer 24/7 service?
Yes. Our workers are available for your property maintenance needs 24 hours a day 7 days a week as needed. And, because of the volume of work we do with most of our contractors, we generally will get lower rates than you could had you called them directly.
Can I use my own contractor?
No. We can screen your contractor and add them to our database of Contractors if they meet our criteria, and use them as we need them, however, as protection for you and us, we will not call "your people" to get something done.
What happens if a tenant does damage?
Should the tenant damage your property while living there they are required to repair it. If they do not, and we have to, they will be billed.
What if they don't pay for the repairs?
If they do not pay, they will be notified of potential adverse action, can be taken to court, turned over to a collection agency, or further steps may be taken if appropriate and applicable.(garnishing, levying, eviction, etc.)
What happens if the tenant leaves before the end of the lease?
If they choose to leave prior to the termination date of the lease, they will be charged for the rent until the property is re-rented again.
What are your hourly rates?
Please refer to the schedule of fees on this site.
Do I get a status call each day, week, month or year?
We hope not! If we are doing our jobs, your investment should be properly managed, maintained, and generating income and able to be inspected upon short notice. If we are calling you, it is generally because there is an issue that will cost you more money.
Frequently Asked Questions for you as an Owner/Prospective Owner:
Are you in this to be a Landlord or an Investor?
The difference in viewpoints between the two is astounding, as is the financial benefit. We have spent years learning about and perfecting both, and can offer services and guidance either way.
Why are you looking at our services and FAQ's?
While we would normally love to have you as a client, our base of clients are not that of the "typical" management company. Our Investors see things differently, and hence, have a better Q.O.L. and earn better returns than most.
Why did you get into Rental Real Estate?
Most reasons are as follows; A-"Had to" B- "Wanted to" C-"Love to". Does not matter which type of Investor you are, we can help, even if it means sending you to the competition because we can't help.
How is your Q.O.L?
If you are not having fun in the Real Estate game, then you need to come see us. We may be able to improve your Quality of Life and increase your N.O.I immediately!
How do you know if your Investment is doing "good"?
There are many benchmarks to check, but the bottom line, is it doing for you what you bought it for?
Do you know why you bought an Investment?
Is it to be able to fix leaks or talk to tenants? Or were you actually trying to buy a "stream of Income"?
WE CAN HELP YOU MAKE SENSE OF WHATEVER ISSUES YOU MAY HAVE. CALL US TODAY!
1801 N. Opdyke Rd.
Auburn Hills, Mi 48326
Office hours are by appointment only;
Monday through Friday 9am to 5pm
Phone system answers emergency calls 24 hours a day, 7 days a week, with a response time of 24 hours or less.
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