What To Look For In Your Next Rental Property Manager

Real estate can be unpredictable. Learn tips and tricks you can use to keep your finances in check throughout the buying or selling process.

What To Look For In Your Next Rental Property Manager

6 January 2020
 Categories: Real Estate, Blog

As the owner of a rental property, whether it is one unit or ten units, you may want to hire a professional and thorough property manager to handle the property's daily tasks. You would rely upon your property manager to keep the rentals occupied and bringing in a cash flow to cover your property's expenses. As you are shopping for a property manager, here are some highlights to help you know what to look for in a great property management company.

Emergency Services

Not everything happens during regular business hours, and when it comes to your tenants, they are no different. Your tenants live in your property day and night, weekdays and weekends, and they may encounter emergency issues with your property that require immediate help from your property manager.

If, for example, your tenant discovers a leaky pipe under the bathroom sink that has gotten progressively worse and is causing a great deal of water damage on a Saturday evening, they need to contact a member of your property management team. This team can dispatch an emergency plumber to repair the line so your tenant has water in the house without having to stop a flow of leaking water.

When you interview a property manager for their services, ask them how they handle emergency maintenance issues. Find out if they have a designated person on call or if they have an answering service take the calls and relay them to the management team. The difference in the type of service offered can make the difference in their keeping your property and your tenants protected. And this can have a direct impact on if your tenants sign a new lease or move out at the end of their current lease.

Property Inspections

Another essential task that you will need a property manager to handle is to complete inspections of your property when it is necessary. A hands-on property manager will be able to visit your property to check for damage at set times, such as when a tenant moves out and before a tenant moves into the unit. It is always a good idea to get a good idea of the property's interior and what types of problems have come up since the last inspection.

You might have a property that is, for example, tightly sealed off from outside air circulation during normal tenant use. If your tenant does not allow interior moisture to vent to the outside, it can lead to mold and mildew issues inside the bathrooms and kitchen where high moisture levels can be present. Along with educating your tenant on being aware of mold and mildew, a periodic inspection can help alleviate and prevent large mold issues.

To learn more about property management services, contact a company in your area like Association Management & Services.

About Me
Talking About Real Estate Finances

Welcome to my website about real estate finances. My name is Reina. I would like to talk to you all about the financial aspect of buying, selling and renting real estate. I will share tips and tricks you can use to keep your finances in check, even when the market feels unstable or you have to dip into your savings for yet another repair. I will also discuss the pros and cons of hiring a property management company to assist you in the renting process. I hope you will follow along and learn all you can about managing your real estate finances. Thanks for visiting.