Property Management : Q &A

"Why is my property a good investment?"

Three reasons:

1. Income- Rental income can produce cash flow
2. Equity - Rental income can be used to pay down your mortgage and increase equity
3. Tax Savings - Depreciating your rental property may shelter your income

"How long will it take to rent my property?"

It depends on: Location, time of year, condition of the property, rental amount, and the lease term

"How much will it rent for?"

It depends on: location, time of year, condition of the property, the lease term, number of bedrooms, square footage, internal features & the neighborhood. Kokopelli offers a complimentary rent analysis and property evaluation.

"How do you find me a good tenant?"

Kokopelli locates quality tenants through a variety of avenues. They include, but are not limited to:

1. Advertising, promoting, &showing
2. Handling all tenant inquiries
3. Internet exposure
4. National referrals
5. Large realtor referral network
6. Corporate transferees &relocation companies
7. Tenant screening (reference checks, employment verification, tenant verification)

"What do I need to do to my property before I rent it?"

We suggest you correct any issues that can cause you exposure to liability. The property should be clean and in good repair. Carpets should be shampooed and walls should be cleaned, touched up or painted. We also recommend that you re-key the locks.

"How is maintenance handled?"

We have a 24 hour emergency hotline for tenants who experience urgent maintenance issues. Our knowledgeable maintenance staff schedules repairs using a pool of experienced, qualified and reasonable contractors. We handle nuisance calls at all hours so you don't have to! Because of our volume, we negotiate the best prices for quality work.

"How do you collect rent and pay bills?"

We have fair but firm rent collection policies and take quick action should delinquencies occur. We are your buffer zone when firmness is required. Our tenant resources page directs tenants to online payments. Deposits held in our management trust accounts are subject to state provisions.

"What type of reporting do I get?"

We handle all record keeping details with precision. We use computerized accounting and record keeping for accurate and efficient reporting. We provide you with monthly, yearly, expense and transaction statements. We provide complex tax records, files, and receipts in compliance with IRS regulations.

"What kind of insurance do I need?"

We recommend comprehensive public liability property insurance. We also suggest fire and extended coverage hazard insurance in an amount equal to the full replacement cost of the structure and other improvements. Kokopelli must be added to your insurance policy as "additionally insured".

"Who actually handles my property?"

Our experienced and professional property management team! Once you sign an agreement with us, we assign a property manage to you. This person is your direct contact for information regarding your property.

"What if the tenant breaks the lease?"

Our legal agreements cover all areas and protect all parties. Our comprehensive leases are based on years of experience. All security deposits and legal notices comply with New Mexico law.

"How often do you check on my property?"

We care, we monitor your investment! We perform an initial survey and inventory to establish the market rental value, assess the property condition, and recommend any repairs or improvements. We suggest preventative maintenance to minimize liability and we also provide you with a cash flow/investment analysis to give an overall financial picture.

"Why should I use your company over another?"

We offer service in a professional, ethical and honest manner. We guarantee our service - if after 3 months you are not satisfied we will return your management fee. We keep owners up to date on the latest real estate trends through our quarterly newsletter.  We use state of the art computer programs which helps our staff provide efficient service to our tenants and owners. We are centrally located near downtown Santa Fe and we have been property management specialists since 1985. We are also members of NARPM, SFAR.

"Do you have options for selling my house?"

Kokopelli also has a comprehensive sales team ready to assist you with selling your home, trading your home through a tax deferred 1031 exchange, or finding another property to add to your investment portfolio.

"What does all of this cost?"

Costs may vary depending on the number of properties managed and the amount of monthly rent a property can command.

"What next?"

Set up initial evaluation! Allowing for a one to two month lead time is best. Contact us via email or by calling us at 1.888.988.7244!