Here are just some of the many issues property management companies deal with to ensure that their clients don’t have to. As you know, every situation is different and should be handled on a case by case basis.
- Ensuring properties are compliant to the state standards and laws
Keeping up with all the regulations and ensuring properties meet those expectations are critical. An experienced property management company will be well versed in the real estate licensing and law requirements for the state they are operating in. Whether it’s an understanding of HOA bylaws or creating new leases, clients expect transparency and accuracy in handling property management affairs. Knowing the ins and outs of the business comes with time, and usually results in the client saving more money and experiencing fewer headaches as a result.
- Maintenance coordination and handling emergency issues
Having a dedicated maintenance team who you can trust is important. When issues arise (and they always do) they need to be handled in a timely manner by an experienced staff. Most clients don’t have the time to inspect or maintain their proprieties, having a qualified and trained staff ready at 3 a.m. is vital. In order to be (stay) successful in property management you need a good reputation and record for handling maintenance issues.
- Miscommunication & managing client expectations
Nobody likes to be put on hold and then bounced around the office to different people because the office staff doesn’t know how to handle a situation. Good customer support starts with a team of individuals who are empowered to make decisions based on the knowledge they have. Open lines of communication are key to a good “client-managing agent” relationship. Client expectations should be understood from the beginning by both parties and put into writing.