The process of managing your own rental properties can take quite a time commitment from you when your time can be put to better use by investing in more properties. Because property management is such a critical part of managing your investment portfolio, you don't want to slack on the task and you want to make sure it is completed professionally and expertly. This is why hiring a residential property management team for your rentals is such a great idea. Here are some recommendations of what you should look for to help you find the right professionals for the job.
Prepare Properties For Rent
One of the first elements of a good property manager is keeping your rentals rented with good tenants. This process starts by preparing the rentals for a new tenant, whether a tenant has just moved out or if the property is newly purchased and it needs some updates and improvements to get it rental-ready.
When a tenant moves out of a rental, the unit needs to be inspected and cleaned and any damages repaired. A good property manager will arrange for the property to have its carpets cleaned and a cleaning team to wipe down surfaces and clean appliances that may be dirty from the previous tenant. Then, they should have the walls patched of any damage or nail holes and then paint the walls where they are needed. A great property manager can schedule these tasks within a couple of days so the property is ready more quickly and you have fewer days of lost rent when turning the apartment.
Handle Property Maintenance
When your rental property vacancies are filled and your properties are generating cash flow to pay their expenses, there are still going to be many tasks associated with keeping up the properties. Your tenants should let you know when there is a problem in the property, such as HVAC not working or the sink is backed up, so you can take care of the property's function and keep it in good condition.
A property manager is essential to receiving their work requests and delegating work orders to the proper personnel to make sure they are corrected. For example, your property manager may have an HVAC technician on staff who can arrive at the rental and make the necessary repairs or replacements to the systems in the rental unit. If the tenant has discovered mold below the bathroom sink, your property manager can arrange for a plumber to inspect it or a mold remediation company to clean out the mold when necessary.