Whether you are looking for a house to rent or have one you want to lease out, you should consider working with a property management company. This is a business that specializes in finding tenants and keeping them in a home to the benefit of both the tenant and owner. However, not all property managers operate the same or offer the same services. When looking for someone to help you rent a property you should make sure they do everything you need them to do. Here are a few options you may want to check before signing any contract.
As a homeowner who wants to lease the property you need to be sure that the company handling your place has good, effective tenant screening in place. While a full background check on potential renters is not necessary, you do need to know their rental history, make sure they have a job, and that they are not so far in debt that they will not be able to pay the rent. As a renter, you may not be as concerned about this, and may even hope they do not dig too deeply into your past.
One of the good things about dealing with a property management company is the fact that they usually have good turnaround time for maintenance and repairs. Some companies will have their own maintenance staff they can send to the property within a few hours of a problem. Other companies have relationships with contractors and/or professionals that will get the job done quickly, efficiently, and at a discounted price. Ask any company you are considering working with how they handle maintenance and emergency repairs.
As a tenant, you want to work with a property management company who will work with you if you come into hard times financially. Of course, this should not be a habitual thing and you may have to have been renting from them for a while before they extend you any help. You may be able to pay on a different schedule, such as weekly, until you can get things straightened out and they may be willing to keep from charging you any late fees if it is a first-time problem. However, as a homeowner, you need to be sure that the company is going to pay you on time so you can make the mortgage payment. If the company is going to be lenient with a tenant, how will they pay you? Will they discuss the leniency with you before offering it to the tenant? Make sure you know when you will get your money.
Using a property management company is good for both tenants and homeowners. A tenant does not have to worry about a sentimental homeowner telling them how they must live and will have access to almost immediate repairs. A homeowner will not have to worry about finding someone to make any repairs and will also not have to listen to all the problems and excuses tenants can give as to why they have not paid the rent. Talk with the people in the company to make sure they will handle things the way you want them to be handled.Share