There’s more to property management than finding and screening good tenants, maintaining “curb appeal”, and rent collection. Property management can at times be an exercise in frustration with a whole lot of issues arise which have to be attended to immediately by the property manager. Take for example an apartment complex housing multiple tenants. You are rarely without a problem of one kind or another which range from minor to major, but all these need instant attention.
Handing Over the Reigns
Because of all these niggling problems which never go away, an investor or homeowner soon realize that it is in their best interest to entrust the management of their rental property to a professional property manager and use their time more effectively.
Apart from routine issues like screening probable tenants, looking to the maintenance of the property, collecting rents, and supervising eviction procedures, a property manager has to submit periodic reports to the investor or homeowner and deal with a variety of other issues including tenant requests and problems.
Peace of mind for a landlord comes with the assurance that their rental home or condo is in the capable hands of a conscientious and competent property manager who has on call a list of reliable contractors to deal with routine problems such as blocked drains and toilets, leaking faucets and pipes, and slow draining showers and bathtubs.
Common Courtesy; The Basics
It up to the manager to recruit a reliable contractor whose rates are reasonable to paint and rehab an apartment unit when a tenant moves out and before the new tenant moves in.
Another issue that property managers routinely have to deal with is property damage. In the case of interior damages where the tenant is clearly responsible the repair cost can and is to be deducted from the security deposit paid at time of signing the lease agreement provided this falls within the laws which cover issues of security deposit. But this invariably becomes a contentious and sometimes unpleasant issue.
A Personal Upgrade
The manager has to protect the property from damage in other situations, like for example if the tenant wants to install a satellite dish which is permitted in the lease agreement. The property manager must be present during the installation to ensure that no damage takes place. Where satellite dishes are concerned, roof installations are generally discouraged or disallowed because of the possibility of damage which results in expensive repairs. Generally such installations are confined to the sides of a building exclusively.
A Management Company that Knows its Role
Talley Properties is a well-established property management company that operates out of Charlotte NC and manages properties as far afield as the neighboring counties. This company has established a list of reliable contractors across its areas of operation through which it is able to respond and attend to problems before they become serious issues. Talley Properties which manages high-end to mid-range commercial and residential properties provides the full range of property management services. However, it is flexible and customizes its services according to the needs of the property owner.