Over the last 50 years,
managing investment property has become more
complicated. Major property management legislation,
increased tenant awareness, major disasters, and
escalating technology have been contributing factors in
the field of property management today.
Generally, the days of a
simple handshake between a property owner and a tenant
are over. It takes an educated and collective approach
to support, manage, and maintain a property.
property management benefits from teamwork.
begins with the property owner and the property
management company working as the primary team, each
party supporting the other. The role of the property
owner is to supply a sound physical property, necessary
financial support for the property, and provide the
property management company with the authority to act on
supervising the myriad of details of management. Today
there are also many other people and services to support
both the property owner and the property management
As your property
management company, we operate and think of successful
management of your investment as "teamwork." We know
that it is extremely difficult for one person to do it
all - market the property, screen the tenants, collect
tenant funds, supervise maintenance, move tenants in,
handle tenant issues, handle property issues, comply and
keep up with increasing legislation, move tenants out,
dispense security deposit refunds, and much more.
Consequently, it is our practice to utilize additional
people and services as part of our team.
In addition to property
management personnel, a well-run property management
team includes a myriad of maintenance services, tenant
screening/credit reporting services, banking
institutions, insurance companies, accounting services,
property management attorneys, referral services,
supportive industry organizations, local government
offices, and more. This provides more eyes, ears, and
expertise to oversee the property owner's investment.
Technology plays a key
role as well and we consider this an integral part of
the management team. To give an owner the best possible
service in today's fast moving world, we utilize our
website, email, online vacancy services, banking
technology, documentation programs, newsletter services,
Just like the management
of the property, there is a continual "maintenance" of
all the services involved. We are constantly working to
increase our education, acquire new services, and
evaluate companies and services that we use for our
support system. These efforts promote a well-oiled team
to oversee your investment.
The property owner needs
to sustain integral parts of the team as well - their
property insurance company, accounting services,
financial institutions, homeowner's association (if
applicable), etc. It is vital that the owner oversee and
maintain these necessary support services.
The bottom line is that
although managing an owner's investment is more
challenging than ever, we know that taking a teamwork
approach will accomplish this critical task.