3 Things Your Property Management Company Isn’t Telling You

April 1st 2015

Property Management

When our clients entrust us with the management of their investment properties, we at ABC are committed to giving them the best value for their money, not just in terms of their rental returns, but also in the service that we provide. Think about who is managing your property now and ask yourself these questions to find out what sort of deal you’re really getting.

1: Are Your Tenants Happy?

Talk to a few of them sometime. Ask them whether they find things generally in good order. Are the common areas clean? Are their maintenance requests dealt with promptly? There are some things you and your tenants both want – a well-cared for property is good for everyone. The next time one of your tenants decides not to renew their lease, contact them and find out why. It might be because of any of a great number of factors, but sometimes the reason is something that good property management could have prevented.

2: How Are They Advertising?

Conduct a search for properties like your own in the area and see what comes up. Does your listing appear first? How eye-catching is the ad? Professionally photographed, well-presented properties attract more interest from tenants which translates to maximum rates of occupancy. Check where your ad has been placed, too. You should be able to find your property on major real estate websites and local newspapers. If your management company is only advertising on free locations such as Craigslist, community notice boards and the like, then you have a problem.

3: What’s in the Contract?

You will naturally have discussed the terms of the agreement when you signed with your current property management company, but are these the same terms that are laid out in their Management Agreement? It’s very important that you understand what fees you are paying for which services, as well as your own obligations under the terms of the contract.

 

A good property manager will work hard to get you the best possible return on your investments. That’s what we specialize in at ABC Property Management.