Property managers have lots of duties and responsibilities, but perhaps managing tenants comes to the forefront. In fact, one of the primary reasons homeowners hire property management companies in the first place is so they don’t have to deal with tenants. This isn’t anything against most great tenants, but there are people who like to get out of paying rent and cause trouble.
Difficult tenants can make a property owner’s life almost impossible. Property managers, on the other hand, have enough experience when it comes to dealing with these situations to make sure that things run smoothly.
Even before beginning looking for tenants, property management managers will have an idea on how to make your property more attractive. If your property is attractive enough as it is, they’ll know the right way to advertise it.
Once people start applying to rent your property, the most difficult and important part of a property manager’s job begins, which is the screening process. Your property manager has probably gone through dozens, if not hundreds, of tenants. This experience allows him or her to know who the right tenants are, basically the ones who pay rent on time and don’t create any problems.
Credit and background checks should also be part of the screening process. So your property manager will take a look at these before finally deciding on the correct tenant. Dropping this part of the process is either a sign of negligence or inexperience on your manager’s side.
Upon selecting the best tenants possible, the lease comes next. It’s the property manager’s job to handle the lease and all its aspects, like setting its length. Setting the security deposit the tenant has to pay is all part of the lease agreement.
Now that the tenants are settled in, there may really be nothing more than collecting rent every month. If there are any complaints regarding repairs, noise, or an emergency, they should all go directly to the property management company rather than to the homeowner. The management company or manager will be responsible for dealing with any issues that arise in a timely fashion while keeping finances in mind.
At the end of the lease agreement, if the tenant decides to move out, then there will be more work to do. It’s important to check the property for damages and make sure that any needed repairs are completed before finding a new occupant. The amount of the security deposit that is returned to a tenant at the end of his or her lease will depend on the damages in the unit.
On the off chance that the screening process wasn’t as thorough as it should’ve been, homeowners might end up with tenants who won’t pay or move out. In such cases an eviction will be needed and the property manager should know how to move through with it.
Managing tenants is one of the most primary and essential duties of property managers. You should never receive complaints or face problems with the right person in charge and doing his or her job properly.