5 Signs Of A Poor Property Manager
The best property managers are the ones who take pride in their work. They are meticulous when it comes to providing a service and always want to do what is best for you, the client. Unfortunately, there are some properties out there that have incompetent or lazy property managers and they might not be doing all that they can to keep your investment safe. Do you know the signs of a poor property manager? If not, these five tell-tale signs will help you spot them.
1. Poor Communication
This is always on top of the list and a surefire way to tell if your property manager is not doing a good job. If you're experiencing a lack of communication with your property manager, it's time to take action. It is imperative that the person who manages your rental be available and attentive to what goes on at all times as this directly affects their performance.
An absentee property management leads not only to an unmanaged rent but also unchecked issues in need of immediate attention such as pest infestation or structural damage from stormy winds which could have been prevented if they were notified immediately! Remember: before hiring any new personnel for vital tasks like managing properties, check out reviews online first because word-of-mouth can't always do justice when it comes down to making decisions about people we don't know well enough yet. Keep in mind the following:
- It is important that you are always in contact with your property manager
- Your property manager should always be available and attentive to what goes on
- Your rental is managed professionally at all times so regular communication is a must.
- The issues that come up can be fixed quickly because the property manager is there to help
2. Failure To Keep Your Property In Top Shape
You should always make it a habit to visit your property personally once in a while, no matter how well-known the management is. It's an indication that you're dealing with terrible property managers if you visit and find things are not up to par or there are extensive repairs still needed.
One of their primary tasks is making sure any fixes happen as soon as possible for your rental properties; they need to show tenants like yourself how best to use their investment through maintenance tips on what can be done at home themselves so money isn't wasted unnecessarily by hiring someone else out when all one needs may be something simple such as changing light bulbs or clearing clogged drains! What to look for in a property management company?
- Invest in property management that values you as a client
- Ensure properties are being taken care of the way they should be
- A management company that keep your tenants happy by providing them with helpful information about how to take care of their investments at home and where they can do it themselves
- A management company that encourages tenant satisfaction through excellent service
3. Failing To Comply With Local Requirements
Your property manager is responsible for ensuring that your building meets all regulatory standards. If you do detect non-compliance from the authorities, then it could mean that your property manager isn't doing their job properly and has failed to perform his/her responsibility of maintaining compliance with local regulation. Make sure to get property managers that will:
- Take care of all your regulatory needs at a reasonable price
- Ensure compliance for Building Management and Residential Property Management
- Not fail to meet deadlines
4. Inconsistent And Late Payments
A good property manager is worth their weight in gold when it comes to keeping your place rented. When they do a great job, you can expect steady cash flow and an occupied space that generates revenue for the duration of its lease terms. If not, then fire them as soon as possible!
A reliable property management company ensures adequate income from rent payments (both long-term rentals or short leases) so that there are no gaps where money could be coming in. A good property manager will help:
- Manage your rental
- Stay in contact with reliable and responsible professionals
- Maintain steady income from rent payments
- Get the best care for the property you invest in
5. Too Many Tenant Complaints
You should never have to deal with your renters' concerns yourself. A property manager is trained and professional in dealing with all tenant issues, so if you're receiving calls from tenants about their problem, speak this up as soon as possible! The benefits of having a good property manager are the following:
- Save time by outsourcing property management to a professional
- Get the peace of mind and security in knowing your renters are being taken care of
- Landlords have less stress with the property manager handling all inquiries from renters!
- Don't forget, there is a monthly fee that covers their service for you
If you are looking for a property manager, be sure to do your due diligence and make sure they have all the qualifications required of them. As long as you know what signs to look out for, it should be easy enough to find one who is qualified. Give us a call today if you need any help finding an excellent property manager in your area!