If you own investment property in Omaha, you’ve likely heard of Wistar Group. But who are they? And are the best solution for property management? Read on to learn answers to these questions and more.
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If you’re looking for quality property management company in Omaha, Nebraska, look no further than Wistar Group. Considered a boutique property manager, Wistar Group caters to all types of owners and property.
What Is Wistar Group?
Omaha-based Wistar Group is a third party property management company that manages all types of properties on behalf of owners. Just over a decade old, Wistar Group has grown organically and unlike competitors, has stuck to its roots.
This means you’re hiring a company that only manages properties, nothing else. Why does this matter? Simple! There is no incentive to sandbag the performance of the property to get the sale.
Given integrity is a core company value, it makes sense why they’ve stuck to what they know.
Things Wistar Group Handles
A property management company handles the day-to-day management of your investment property so you don’t have to. This includes, but is not limited to:
- Advertising and showing vacant properties
- Lease enforcement
- Tenant contact
- Dispatching maintenance
- Monthly/annual bookkeeping
- Year end tax statements
- Recommending capital improvements
- Semi-annual inspections of property
Why Use Wistar Group
With so many property management options, it’s fair to ask why choose Wistar Group as your property management solution.
- Transparency – A company goal is to be as transparent as possible, which is why every transaction is broken down in detail and accessible by clients.
- Owner Web Portal – Owners are given access to Rent Manager’s online web portal where they can find leases, run financial reports, and gather any other relevant information. Wistar Group ensures any information you need is easily accessible.
- Routine Maintenance Program – Each property is enrolled in a semi-annual maintenance program, during which the HVAC system is checked and owners will receive an electronic inspection report, complete with actionable items and pictures. This ensures that you know exactly what condition your property is in, even without visiting yourself.
- Value-Added Services – Through use of programs like ePremium, Wistar Group has reduced liability to owners by enrolling all tenants in their ePremium PROTECT program. By shifting liability for tenant negligence to a third party, they’ve reduced property damage claims.
- Dedicated Maintenance Department – Most importantly, a dedicated maintenance department means you’re given billed rates when it’s time for a service call. Because third party contractors are only used for specialty repairs, you aren’t paying third party rates.
The Property Managers
Wistar Group has one of the best property management teams in the Omaha area. Each property manager brings something different to the table. You are in good hands with Wistar Group’s property managers.
Whether it’s a finance degree, business ownership experience, or professional degrees like a Certified Property Manager, each manager has their own unique credentials that can be used to better serve you.
Wistar Group Management Pricing
Pricing offered varies largely by the amount of work expected along with the market rent. Management fees are assessed based on gross rent collected, which means you’re not paying if they don’t collect rent.
This way, interests are aligned and they have skin in the game. While there are a few small fees while a house is vacant, the management and occupancy fees are the biggest ones to consider.
As is industry standard, an “occupancy fee” is the fee to place a tenant. This covers all showings and labor to both source and secure a tenant. This fee is 1/2 of the first month’s rent, though for 3/4 of the first month’s rent you get a 2-year tenancy.
This means if a tenant leaves within the first 2 years, they’ll find another tenant without charging you another occupancy fee.
Tip: All fees are negotiable and you are likely to get a better rate if you plan to bring on more properties.
My Experience
Yes, I used to work here. But I am also a client of the firm. In my unbiased experience, they offer the best value of any property management firm in Omaha.
At most other companies, you’ll be assigned a young agent who is simply trying to subsidize their income until their sales career gets off the ground. Then, you’ll have a new manager.
Or you’ll have a fly-by-night manager who is only interested in selling your home when you’re ready. However, Wistar Group is different. They have low employee turnover.
This means you’ll develop a long-standing relationship with your manager. Additionally, some less-than-ethical property management firms sandbag their performance so you’ll sell the property.
But Wistar’s core service is management, and they are paid based on rent received, meaning your best interest is first, not theirs.
Should You Choose Wistar Group?
There are plenty of property managers offering services, but Wistar Group is one of the few companies that exclusively offers property management services.
If you are an owner looking to hire a third-party property management service in Omaha, look no further than Wistar Group.
