Here are the top mistakes that property managers can make in the process of overseeing your property.
Though property managers can be a blessing when it comes to overseeing the particulars for your rental property, they’re not always perfect. Here is a list of mistakes that some property managers can make if they’re not conscious and careful:
1. They avoid technology. Some property managers who have been in the business for a long time still manage properties like your grandparents might have. It’s not the 90s anymore! Nowadays, it’s critical for property managers to have a nice website and to use the latest systems. This will help them handle their tenants better, especially the younger ones.
2. They don’t take great pictures. The property management industry is notorious for taking awful pictures, using camera phones that produce low-quality photos or posting them upside down online. Though we can make jokes about it, those in our industry need to take professional-grade photos of every property they oversee, all the time. If they’re not going to be consistent about all their properties, how are they going to be consistent with yours?
The inspection report is a very official way to help you make more money and protect your investment.
3. They don’t have a handle on maintenance. Every property management company should have a 24/7 maintenance hotline. If they don’t, how will you know what’s happening to your property after hours? Do you suppose they’ll want to wake up at 3:00 a.m. to handle a maintenance issue?
4. They don’t have an official inspection report. Before your tenant moves in, or after they move out, it’s critical to have an inspection report done by a third party. That way, you can keep control over your tenants and have a better understanding of the condition of your property. The inspection report is a very official way to help you make more money and protect your investment.
If you have any questions about property management, give me a shout. I’d love to speak with you.