Frequently asked questions
At Milestone, we’re dedicated to providing the best support for our clients. We know you may have questions, and we’re here to help. Below, you’ll find answers to some of the most frequently asked questions about our services. If you don’t find what you’re looking for, feel free to reach out—we’re always just a message away!
Property Management
Are you an investor needing help with property management? Discover our services and book a free consultation today to see how we can support your investment goals!
Resident Services
Are you a resident with questions about your lease, maintenance requests, or general inquiries? Explore your dedicated resident website to easily find the information and support you need.
Investor-Buyer Services
Are you ready to purchase your next investment property? We assist you at every step of the buying process, from evaluating the investment’s potential to finalizing the deal.
What is a Real Estate Investor?
A real estate investor is someone who purchases property with the intention of generating a profit, either through rental income, the future resale of the property, or both. Unlike someone who buys a home to live in, a real estate investor looks at properties as financial assets, often focusing on factors like return on investment (ROI), market trends, and potential for property appreciation. Real estate investors can focus on various types of properties, such as residential, commercial, or industrial, depending on their goals and strategy.
What’s the difference between a real estate agent and a property manager?
A real estate agent helps buyers and sellers navigate property transactions, such as purchasing or selling homes. A property manager, on the other hand, manages rental properties on behalf of property owners.
How do property management services work?
Property management services handle the daily operations of rental properties. This includes marketing the property, screening residents, collecting rent, maintaining the property, and addressing resident concerns. Property managers ensure that the property is running smoothly and the owner is receiving regular rental income.
What are the benefits of hiring a property management company?
Hiring a property management company saves property owners time and effort. Property managers handle resident screening, reduce vacancy rates through effective marketing, collect rent on time, coordinate repairs, and ensure compliance with local laws. This allows owners to focus on other investments or responsibilities without the day-to-day stress of managing properties.
What does a property manager do that I can’t do myself?
While you can manage your own property, a property manager brings professional expertise in areas like resident screening, legal compliance, rent collection, and handling maintenance. They have established vendor relationships and systems to maximize rental income and reduce vacancies, ultimately helping you avoid costly mistakes.
Can you manage multiple properties for me?
Yes, we specialize in managing portfolios of rental properties, whether you own one property or several. Our systems and processes are designed to handle the complexities of managing multiple properties, ensuring you receive consistent income and comprehensive reporting.
What happens if I want to sell my rental property?
If you’re ready to sell your rental property, we can help you with the entire process. Our team can assist with evaluating the property’s market value, preparing it for sale, and marketing it to potential buyers. If needed, we can also manage the transition from renting to selling to ensure minimal disruption to your cash flow.
What legal obligations do I have as a property owner?
As a property owner, you must comply with local, state, and federal laws, including fair housing regulations, safety standards, and landlord-tenant laws. Our property management team ensures that your property complies with all legal requirements, from lease agreements to eviction procedures, protecting you from potential legal issues.
How do you determine the potential ROI of a property?
We perform a detailed analysis of each property’s expected rental income, operating expenses, and market appreciation potential. Our team uses this data to provide a clear picture of the expected return on investment (ROI) to help you make informed decisions.
What types of properties do you recommend for first-time investors?
For first-time investors, we often recommend single-family homes or smaller multi-family properties in high-demand rental areas. These types of properties offer lower upfront costs and steady rental income, making them easier to manage and profitable in the long term.
Can you help with both buying and managing investment properties?
Yes, we offer a full suite of services for investors, from identifying and purchasing investment properties to managing them after the sale. This integrated approach ensures seamless operations and maximizes your return on investment.
How do you help investors find the right property?
We work closely with investors to understand their goals and provide market analysis, property recommendations, and financial projections. Our expertise in long-term residential property management ensures that we identify properties with strong rental potential and long-term appreciation.
Do you manage furnished properties?
We do not manage furnished properties, and this policy is in place to protect both owners and residents. Managing personal furnishings can be tricky because their value varies and it’s difficult to track their condition over time. This can lead to challenges during inspections and complicate the security deposit process. By keeping the property unfurnished and clear of personal property, we ensure that everything is clearly accounted for, making the management process smoother and more straightforward for everyone.