The top concerns investors have
when they’re engaging a Property Manager. From security checks to inexperience,
here are the worries landlords have and how you can alleviate them.
Agencies without property management divisions
Investors should expect their property managers to
work in a designated property management department. The principal at the
agency should also be involved in the department so that investors can be sure
the property manager is getting the support they need to deal with any issues. Property
managers who do not work in an environment like this are going to have a harder
time convincing landlords they are property equipped to handle problems that
arise.
Unexperienced Property Managers
Property managers who have no experience dealing
with difficult clients are a big no for investors. Property managers who are
not willing to be flexible when dealing with tenants are another concern as
this is something investors equate with inexperience and try to avoid.
Investors are looking for property managers who will make it as easy as
possible for a tenant, therefore avoiding any unnecessary conflict and helping
ensure a tenant will stay in the property longer.
Property managers who don’t run requisite checks
One thing investors are concerned about are the
checks run by property managers and whether they are as thorough as they should
be. Transparency from property managers is a good way to alleviate this fear.
If property managers are clear with the landlord about what checks you do and
do not conduct, and why, landlords are not going to worry about whether their
tenant has been properly vetted before they sign a lease.
Property managers who don’t regularly inspect a
property
Another main concern for landlords is the number of
inspections that occur on a property, especially those who do not live in the
same area where they own their investment. Transparency can fix this concern
too. When you engage a property managers services, ask about the number of
inspections they will undertake on their property and ensuring you are aware
that they are keeping on schedule.
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Jason Gwerder
Friday, 18 September 2020
