We are fortunate to have a great list of clients and customers who count on us to provide the best possible property management for their Decatur rental properties. If you have ever experienced a conflict or a misunderstanding with your property management company, it’s likely because expectations were not shared and discussed at the beginning of the relationship.
Today, we want to help owners and investors understand the realities of the property manager/property owner relationship. This should help you find the rental management team that best meets your needs and prepare you for what to expect when you sign a management agreement.
Managing Communication Expectations
Communication should always be transparent between an owner and a property manager. You should count on your management company to be proactive and direct. There’s a lot of technology that’s helpful in communicating. A management company that has invested in technology will often provide a portal for owners, which is where you can find most of the information you need. You can save yourself time and frustration by checking your portal first, and finding out if your questions are already answered before you make a phone call.
We encourage the landlords we work with to email us whenever there’s a concern. This gives us the opportunity to do a little research if necessary before responding. If a larger discussion is necessary, we’ll usually schedule a call.
We work hard to return phone calls immediately. Remember that if your property manager doesn’t answer your call right away, it’s probably because he or she is busy managing your home. We are proactive with our communication, but there are always time restrictions and conflicts. Make sure you understand what you can expect in terms of communication with your property manager. This will help you work better together.
Preparing for Maintenance Needs and Budgets
A lot of property owners are surprised by the maintenance expectations involved in owning a rental property. Fixing things at the house is not optional. While a broken door or a leaky sink might be something you put off repairing at your own home, you have to be responsive to routine and emergency maintenance at your rental property. Otherwise, tenants will get frustrated and leave, and you’ll also put your investment at risk of incurring larger expenses and worse damage.
Sometimes, landlords are surprised when they look at their maintenance bills. They’ll think that a repair shouldn’t cost as much as it does. Keep in mind that to protect your property and shield you from liability and risk, we’ll only work with licensed and insured vendors. We hire reliable, professional contractors so we can be sure the work is done right the first time.
Have a maintenance conversation with your property manager. You’ll need to know if a maintenance reserve is required, and at which cost level the property manager will reach out to you. Maybe you want to be informed before even minor repairs are made, or maybe you don’t want to be bothered until the work reaches $300 or $500. Make sure everyone’s on the same page.
Finding a Decatur Property Management Partner
Not every property management company in Decatur will fit your needs. It’s a good idea to talk to several property managers before you hire one. When you’re shopping around, get a sense of how they work, what they do to communicate, and whether there are any areas in which they really excel. You want a good fit. Check out online reviews, spend some time on their website, and schedule interviews so you can better understand who they are and what they do.
We’d be happy to tell you more about our services. Contact us at 360 Real Estate Network today.