In theory, owning real estate property that you rent or lease out is an easy way to earn a living. However, in reality, being a landlord can be a grueling job that requires a great deal of your time and effort. It is for this reason that many property owners choose to trust a property management service to handle their properties. If you are considering making the transition to allowing a property management service handle your landlord responsibilities, you are bound to have questions. Here are a few of the most common questions about property management and the answers you will want to know as a first-time client.
What kinds of tasks will the property management service handle?
Property management teams can vary greatly from one place to the next. Some offer comprehensive services in which they handle pretty much every aspect of tenant relations and property care, while others may solely take on the responsibility of collecting rent payments or showing the property. If you go with a comprehensive property management service, you should expect services to include:
What is the best way to make sure your tenants are comfortable with the transition?
It is never a good idea to leave your tenants in the dark if you hand over your duties as a landlord to a property management service. They need to hear it from you that there will be changes in who they make their monthly payments to, who shows up when they need repairs, and even who they should reach out to if they need help. Therefore, as soon as you make arrangements with a property manager, either stop by and let your tenants know face to face or send them a formal letter to let them know about the changes and what they should expect.
What is the best way to find a reputable property management service?
First and foremost, look for a property management company that is known in your area. Check out local service reviews online and ask around at real estate companies and conventions when given the chance. It is also highly important to find a service that offers the services you need to fulfill your needs as a landlord. Plus, look for a company that is readily available for communication, which will be important for you as a client and for your tenants.
Share28 November 2016
Apartment living can be a trial sometimes. Even the best apartment complexes can have problems, such as noisy neighbors. I experienced this firsthand with my newest neighbors. Between their partying and trashy existence, I was ready to go crazy. Late one night when they were being particularly noisy, I started researching my rights as a tenant. I found out I did not have to live with their inconsiderate behavior. As a public service, I decided to help others through this blog with their neighbor problems. Whether you are dealing with a landlord that will not do any repairs or bad neighbors, I can help.