Common Questions

1. Do real estate agents get a kick back when they refer business to Reafco Ohio Elite Management?

When I get referred business  (doesn't matter if it's a friend, or a real estate agent that works for Reafco, Keller Williams, RedOne, etc...), no one receives any kickback. If that were to happen, it would be a conflict of interest for my clients that I manage!

2. When should I reach out to a property inspector; an insurance agent; a property manager?

To be answered at a later time

3. What is a good number to use for vacancies when running my numbers?

As a real estate investor myself, I try to minimize vacancies as much as possible. I do this by doing the following when I can. Please note, if we inherit a lease, it might not be an option with the current tenants:

1. I don't believe in year long leases. I always cut the leases back by a week and I don't prorate the last month's rent. This gives my crews a week to turn the unit before the next tenant moves in.

2. Three (3) months before a lease ends, I reach out to the tenants to see if they would like to renew. If they don't want to renew, we assess the unit to see if we can prelease it out ahead of time.

Because we try to keep it where we have no vacancy between tenant to tenant turn over, I would use 4%. I assume tenants stay for 2 years. Since I charge a 1 month leasing fee and there shouldn't be a vacancy between tenancies, that's 1 out of 24 months.

4. When Reafco Ohio Elite Management leases a property, do you also charge a monthly management fee on top of the leasing fee?

No. A monthly management fee will not be charged until the unit is leased.

5. Is Reafco Ohio Elite Management the cheapest property management company in Columbus?

No. There are other property management companies that charge a cheaper monthly management fee.

6. What does your company do differently than other companies?

As a real estate investor myself, I hate vacancies. They're the death of an investor. 3 months before a tenant's lease expires, we reach out to them if they would like to renew or not.

If yes, we renew their lease. We always recommend increasing the monthly rent by a little bit just so the tenants get trained on what to expect every year.

7. Why should I use Reafco Ohio Elite Management?

Your properties will perform better in the long run from happier tenants, lower turnover, and shorter vacancies between tenants. The reason why I (Kyle) started Reafco Ohio Elite Management was because I had hired a property management company that failed to meet my expectations. Having been a tenant, a current property owner, and a current property manager, I understand the different needs of individuals and want to offer Columbus an excellent property management service.

8. How is Reafco Ohio Elite Management different from other property management companies?

As an ex-electrical engineer at Apple and Google leading teams in Asia, I've learned to optimize processes and procedures. I've carried these practices to RPM to strategically leverage technology to allow us to be as efficient as possible while maintaining quality service . RPM guides tenants in troubleshooting common issues before sending a specialized technician. This provides owners with enormous potential savings.

9. Do you manage outside of Columbus, Ohio?

We currently do not manage properties outside of Columbus, Ohio.

10. Who do you recommend to use for  lending, insurance, and inspections?

Here's the list of my go to folks.