Owner FAQ
Why shouldn't I manage the property myself?
Managing a property yourself not only takes a lot of time and money, but it can also be stressful.
Not all landlords realize the significant cost and demanding lifestyle required of a property owner. The monetary costs may be easy to calculate, but what about the value of the hours and days spent on other management tasks? Unfortunately, what many property investors fail to realize is the high cost and demanding lifestyle that accompanies their investment if they choose to self-manage.
Many self-managing landlords work below their pay grade, spending too much money and time managing their rental properties, and ultimately receiving minimal return-on-investment (ROI). HPS will help landlords avoid the cost, hassle, and liability associated with managing a property by handling all the responsibilities that go along with being a landlord/homeowner.
HPS is a full-service property management company that handles all of the details to save you time, work, and stress. We make owning income property hassle-free!
HPS's experienced Property Management team knows all of the landlord/tenant laws for Cumberland County, the State of Maine, and the Federal government’s Fair Housing Laws. We are in tune with current rent values, rent control in the City of Portland, vacancy factors and we use expert marketing tactics to earn our Owners a reliable income stream quicker than our competition.
HPS has the resources and experience to perform thorough background checks on prospective tenants and document move-in and move-out condition reports. We understand and follow all Fair Housing Laws as required by the State of Maine and we stay abreast of all other landlord/tenant laws.
A professional property manager saves money for the investor. In most instances, your leasing and management fees are usually tax-deductible.
Can I use my contractors to do repairs at my rental home?
To ensure the quality of the vendor and the repairs, HPS requires trade licenses and current proof of insurance from all of our vendors. HPS strongly advises using our highly skilled vendors for any maintenance and turn work. If a property owner insists on using their own company to service their rental property, it is necessary for their vendor to provide the same documentation we require. In the case of after-hours or emergency calls, HPS contacts our primary on-call vendor.
What maintenance am I responsible to provide a tenant?
Tenants are not responsible for gutter cleaning, tree trimming, or crawl space access. These items, along with any other items which may become a safety hazard to the tenants, are always the responsibility of the homeowner. Normal wear and tear items are also an owner’s responsibility.
Can I find my own tenant?
HPS' proven process draws inquiries from the leading rental marketing channels. If you know someone looking for a rental property, you may direct them to HPS. The prospective tenant must complete an application, pay the application fee, and fully qualify per the terms of Hello Property Solutions' Rental Criteria.