Things to Clarify with Your Property Manager from the Beginning
As a landlord, you have done your research and invested countless hours and resources into your choice of rental property. Not to mention the options you have available in property management companies. Now that you have settled on a specific company, it’s time to go in for the second round with your newly hired team. Make sure you explain your expectations about the services you need from your property manager or property management team. There will be no misunderstandings, and everyone involved should feel satisfied with their responsibilities. Here are some insights to help you walk on this path hassle-free.
Hiring cost
Suppose you live in Santa Ana. In that case, you will look for a Santa Ana property management company for help. You may have seen their pricing, which would have given you the confidence to go with them. But even then, it would be better to go deeper into what you need against what you pay. Like every other business, the property management teams will have their rates.
Some also mention it on their site, so people who approach them have an idea. Still, you can talk to them about what services they offer within that price range and if there will be additional charges for other requirements. For example, some may ask for a bonus whenever a unit fills up. There should be clarity between you and your agency so that everyone can operate at peace.
Services
After you and your property management company have agreed on a payment plan, it’s essential to discuss what you’re paying for and why. You just don’t want to know the high-level details like how much you will pay monthly or how manageable a pay schedule is. These kinds of things aren’t specific enough. The contract should be clear about which bills will feature in the payment and when they need disbursal. In addition to rent and fees, some other costs to find out about include upkeep services, landscaping, and tenant evictions, just for starters.
Tenants
Why you want to set clear goals with your property manager is also because you want your future tenants to be aware of the rules and regulations of the property. Things shouldn’t surprise them regarding what is permissible and what is not on the premises. You’ll be working closely with the property management team, so chalk those plans with them and learn how they will convey those details to the tenants. The more information a tenant has beforehand, the better prepared they will be throughout their tenancy and avoid any misunderstandings that could arise, costing either one of you money or negatively affecting both parties’ camaraderie.
If you’re looking forward to managing your property, getting in touch with a professional can’t hurt. The essential duties of property management are real estate operations and renting out or managing the facilities. The property manager will have to decide many things daily. So having clarity around the main things from the beginning of your engagement can be both peaceful and satisfying. You can remain calm knowing that your rental home is in good hands and care.
