Tips & Advice
How much does it cost to hire a temp agency?
If you are looking to a temp agency for personnel, most agencies charge you based on the temp’s hourly rate. The markup can be anywhere from 20%-100%. If the temp is making $15 an hour, they may charge the client $20 an hour. Each agency sets their own rate structure, but that is the general method for temps. If you are the actual temp, agencies don’t charge you anything; they’re already making money off of the client.
What type of work is available through temp agencies?
The types of work available through temp agencies will depend on their areas of specialization, if any. Most temp jobs are related to standard administrative roles, where the skill set can apply across a wide variety of businesses and/or companies. Most temp agencies specialize in specific areas like computers or tech, financial, or entertainment industries, etc. Retailers often need extra staff for holiday seasons; Day laborers and warehouse teams are also popular areas. When seeking out a potential agency, you can probably find one that covers your area of interest, if you have one, within reason.
How long does it take to hire a temp?
Hiring a temp can happen in a day under the right circumstances. The client’s needs usually dictate how quickly they need a warm body in place. If they need a temp to cover for someone who is suddenly and unexpectedly out, they will move quickly to fill the role. If the temp role is scheduled ahead of time, employers can get ahead of the game by seeking potential temps weeks, or even months, in advance. If someone calls in sick some companies might need a replacement immediately.
Do temp agencies have to pay overtime?
If you are working a job that requires overtime, and you work the overtime, then yes, the agency will absolutely pay you accordingly. Most temp agencies should confirm before hiring that you are willing and able to work OT if necessary Temp agencies must adhere to any and all local and federal laws employment and wage laws.
What is the benefit of using a temp agency?
The biggest benefit of using a temp agency is getting a job. Temp agencies are a great option for people needing a job quickly, and can provide a temporary source of employment and a paycheck, while giving people the opportunity to look for a full-time position. Temp agencies can be ideal for students on break, or during the holidays when workforce supply and demand can increase. Many temp roles can turn into temp-to-hire positions.
Temp agencies are employment agencies that seek to staff both temporary and permanent positions on behalf of clients. Potential job seekers can sign up with temp agencies in the hopes that their resumes and skill set match available positions. Most employment agencies have temp divisions that focus on the temp market. When employees take a leave of absence, for maternity or medical leave, or because of vacation, companies can use temp agencies to place a candidate temporarily in their role to replace their productivity.
What are the benefits of hiring a property management company?
Some of the key benefits of hiring a property management company include:
- Better tenants: The best property management companies are skilled at tenant screening. This can help you attract a higher caliber of tenants to your building. Effective tenant screening can bring in tenants who are more likely to pay their rent in a timely fashion, and who are more likely to remain long-term residents of the building. Screening can also provide you with tenants who are less likely to damage the rental property.
- Shorter vacancy cycles: If a tenant moves out, it can take awhile to find a qualified replacement. It's in your best interest to keep this vacancy cycle as short as possible, since you won't be earning any money from an empty unit. Skilled property managers can handle the process of finding a replacement tenant quickly and effectively. This results in shorter vacancy cycles.
- Freedom from the day-to-day responsibilities associated with property management: If you manage a property yourself, you'll have to deal with things like rent collection, tenant complaints, and maintenance and repair issues. These responsibilities can be bothersome and time-consuming. Hiring a property management company will help you avoid having to deal with these tasks on a daily basis.
- Reduced tenant turnover. Tenant turnover can impact the profitability of a rental unit. The best property management companies know how to keep their tenants happy, and happy tenants are a lot less likely to move out of the building and a lot more likely to take reasonable rent increases in stride.
How to find a property manager?
Use the following steps to find and hire a property manager:
- Get referrals, or conduct an online search: Start by getting referrals from sources you trust. Be sure to get referrals from multiple sources to avoid bias. You can also conduct an online search to find property management companies that are based in your area.
- Check for ratings, reviews, and complaints: Once you're built a list of candidates, check with the Better Business Bureau to see if complaints have been lodged against any of the companies. It's also wise to visit third-party review sites to see what types of ratings and reviews each company has received.
- Look at each company's current work. After weeding out those companies with credible complaints and poor reviews, look at the current work of the companies that remain on your list. Evaluate the ads posted by these companies; you'll want to work with a company whose ads project professionalism. Visit buildings managed by these companies, and speak with the tenants. The best property management companies have tenants who are happy with the services they provide.
- Conduct interviews with the top candidates: Next, conduct interviews with the property managers who remain on your list. Look for a company with staff members who are responsive to your questions and open to hearing about your priorities and concerns.
- Check licensing: At this point, you should have a favorite or two. Before signing on the dotted line, verify that the company is licensed to manage property in your state. In most states, a real estate broker license is required, while a few states require a property management license.
- Carefully review the agreement: Once you've been presented with a property management agreement from the company you've chosen, check to make sure it explicitly includes all the duties and responsibilities you'd like the property management company to handle.
Does property management require a license?
In most states, property management requires a real estate broker license. To obtain this license, you need to have a high school diploma or its equivalent, along with at least two or three years of real estate experience. Classes in real estate education are required, as well as passing a real estate broker's exam.
In a handful of states, a specific property management license is required before someone can legally manage property. This license is required in Montana, Oregon, South Carolina, and South Dakota.
How much do property management companies charge?
The rates charged by property management companies vary depending on the services provided, and location may also impact the fees charged. Most property management companies charge a rate that totals 8 percent to 12 percent of the property's rental value. Others might charge a flat fee that has nothing to do with rental value, and instead relates to the range of services provided. Property management companies might charge an extra fee for services such as tenant placement and eviction.