There are many ways to reduce problems
and liability for your investment. Here are twelve that we know will
support and maintain your investment.
1 - Support Fair
This is crucial to successful property management. This covers such a
vast area such as advertising, showings, tenant selection, equal
opportunity practices for the handicapped, and much more. We always
work to avoid Fair Housing complaints but if they occur, we move to
settle them swiftly and efficiently. We will also do our best to keep
you updated on any new legislation that may happen.
2 - Select good
We continually strive to improve screening practices. Choosing the
right tenant is more cost effective than quickly renting to someone who
will become a problem tenant, even if it means a longer vacancy.
3 - Provide
Another key area to reduce risk and tenant problems is using good
rental documents. This encompasses rental agreements, addendums,
property notices, communications, etc. Setting up the right agreements
in the beginning can help prevent future disputes
4 - Maintain the
We continually work to use competent vendors to maintain your property.
We probably sound like a broken record on this subject but preventative
maintenance is a big key to reducing many maintenance issues. Whether
small or large, it always pays to address a problem as soon as possible
and resolve them before they escalate.
5 - Tackle mold
Ignoring mold issues has produced some of the largest settlements
against investors in the United States. We may
discover that it is not toxic mold but it is better to clean up any
mold before it can become a legal battle.
6 - Take tenant
Addressing anything that could endanger tenant safety is an absolute
necessity. The courts have zero tolerance for a property owner who
ignores maintenance that endangers a resident. This can include unsafe
electrical, flooring, plumbing, door locks, walkways, lighting,
landscape, and more.
7 - Respect your
Even the most basic Landlord/Tenant law provides for a tenant's right
to privacy. Therefore, we contact tenants in advance and serve the
proper notices when necessary if we want to enter their residence. You
may own the property but it is the tenant's home and most states have
specific laws to address the "right to enter."
8 - Encourage
For obvious reasons, it can increase the return on investment (ROI) to
keep a good tenant. There are many ways to encourage tenant retention
and it pays to show residents that we appreciate them.
9 - Address
security deposit issues
Tenants do move and when they do, the security deposit can become a
battleground. Although we try to avoid this, a dispute can arise. We
settle any deposit issue as quickly as possible.
10 - Provide
accurate bookkeeping records
It is important to provide you with an accurate accounting of funds for
your property at all times. When you have questions on our bookkeeping,
we strive to provide answers to your questions.
11 - Update on
new or pending legislation
We cannot provide the best service if we do not keep up with
legislation or rulings that affect management of your property. There
are many ways to do this throughout the year, such as reading
publications, attending seminars, workshops, and conferences.
12 - Continue to
keep our clients informed
Keeping you informed on what is happening with your investment is
always important. We use various means to do this such as email,
telephone calls, letters, bookkeeping reports, website, etc. This
newsletter is a vehicle for sharing our property management knowledge
and we hope you find this information useful.
We will continue daily with these twelve
good practices. Thank you once again for the opportunity to protect your investment.