The relationship between the property owner and the property manager is an important one. Perhaps the most important reason is that the property manager acts as your representative to prospective tenants and therefore should really have your best interests at heart. Regardless of whether you own just one property or several, your property manager essentially works for you and should value your property (s) as they would value their own.
If you are currently a landlord or considering becoming a landlord, we'd like to offer some tips on how to build a strong relationship with your property manager.
First, communication, communication, communication.
just like in real estate where the rule is location, location, location, when it comes to the relationship between the owner and property manager, communication is the key to having a smooth and long-standing relationship. It's important that there is a clear division of responsibilities between the two parties.
Put everything in writing.
A signed contract between you, the owner, and the property manager is absolutely essential for building a strong relationship. The contract should spell out the fees that the property manager will be receiving as well as the services that the PM will be providing you as the landlord. Make sure that you carefully read every word of the contract so there are no surprises. The contract should specify how rent will be collected, how maintenance issues will be addressed and resolved, how long the landlord/property manager agreement will stand.
Look for someone who has a reputation for building strong relationships.
It is important that the person or company who will manage your property is equally committed serving you and to serving your tenant. A good property manager understands that not only are they a representative of the owner, but they also there to serve the tenant as well. If a tenant is happy and feel that their needs are being met, they are not inclined to seek out a new place to dwell and keeping your property rented is a top priority for you as the owner.
Here at Real Property Management, we are committed to the above principles when it comes to working with our property owners. However, during our more than twenty years of property management, we have developed a process of serving our property owners that we believe sets us apart from other property management companies. We'd like to share a few here:
We take the time to help our owners prepare their properties for rental.
We meet with each owner and review the physical property making recommendations for upgrades that will help rent the property sooner and bring top dollar.
We take steps to ensure the move-in to your property is efficient.
After we have done a full screening of the tenant, we collect first and last month's rent in the form of certified funds prior to their occupying the property.
We offer two special programs designed to bring peace of mind to our owners.
We offer RentSure, a rental guarantee program to Executive Plus Members that covers up to 11 months of unpaid rent up to $100,000 and up to 90 days of lost rent after an eviction or skip vacancy. We also offer an Eviction Protection Program that can cover the complete cost of an eviction if required.
These are just a few of the services you will receive when you work with Real Property Management. With more than twenty years of property management experience, we have established a reputation of exceeding our client's expectations. Give us a call; we'd love to show you how we can help you.