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5 Things A Property Management Company Does For You

 Hiring a property manager is more of an investment than an expense in the long run. When you own a rental property, it a huge responsibility to properly maintain it. Now, you may not have the time and resources. That is why you hire a property management company. When you hire them to handle your property, you reap the benefits of their hard work. However, it is only possible when you make the right choice. As you search for an ideal property manager, make sure it performs the following five duties.

1. You get good tenants

Screening the tenants is a complex process and demands experience. The company should follow a reliable screening process. This way, you find a responsible tenant, get rent on time, and face minimum problems. An experienced company also protects you from rental scams. Besides, the company should adhere to tenant law while fixing the deal. You certainly do not want to be in the middle of a lawsuit.

2. Maintain your property

Maintenance and repair works can crop up at any time of the day. While some are expensive, others are urgent and demand immediate attention. The property manager should always be available to take calls from the tenants. Weekend or middle of the night, the company should have the staff to solve the problem. Now, if the problem demands the care of a specialist, it should have tie-ups to give superior service. In case the work is expensive, the company needs to take your permission. A property manager usually takes care of the following things.

  • Upkeep of lawn   
  • Plumbing problems 
  • Preventive maintenance  
  • Repairing damaged appliances 

3. Respond to tenant’s queries

A tenant may have several queries that demand attention during their stay at the house. The property manager should be the tenant’s point of contact. A tenant may want to include a pet or add another name in the agreement. Whatever the issue, a property manager should do the needful. Besides, if it turns out that the tenant is a problem maker, then the company should inform you and send them a notice.

4. Collect rent

It may appear to be an easy job but sometimes it is nothing short of a battle. The company needs to follow strict policies and ensure there is no breach of the agreement. In case, the tenant defaults, the property manager needs to collect late fees. If eviction is the only option available, he should walk you through the process. It should take care of all the legal hassles and if required, hire an expert. In short, it should fix the problem soon without causing you much inconvenience.

5. Maintain records

Maintaining proper records is important for minimizing taxes and keeping problems at bay. The manager needs to maintain files on every tenant interaction. Besides, it should maintain the accounts and keep you updated about the law.

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