Rental property
management companiesare meant to add value to your property and investment. If left on their own, they will prepare a contract or deal that
favors them at the expense of you the landlord. Before signing a contract, it
helps to have an idea what to expect. This allows you to negotiate the best
terms that will safeguard your investments. Here are the issues we recommend that
you pay close attention to during negotiations. To know more about rental property management get in touch with us. Consistency Tenancy
Property managers have a responsibility of maintaining the highest rate and consistency in tenancy. This happens by making the property as attractive as possible. Proper maintenance and addressing issues as soon as they arise ensures that tenants remain in your house for the longest time possible. Demand that the managers maintain a particular rate of occupancy with a commitment clause in the contract. This will guarantee income consistency. There should be penalties in case this target is not met including an end to the contract. It is upon the managers to vet potential tenants to ensure that they are of a caliber that can deliver consistency and high quality tenancy.
· Declaration
of Occupancy
The property manager should be open enough to declare occupancy
each month. Such details enable you to calculate your percentage returns instead
of depending on information from the office. The managers should also provide
open access to bank accounts where the rent is deposited. You will never doubt
the amount entitled or have auditing issues. It is also a way of tracking down the
rate of occupancy to ensure that it corresponds to what the company has
declared.
·
Maintenance
Plan and Details
Real estate managers have a responsibility of maintaining
the property to make is as attractive as possible. Tenants will depart from a
property that is poorly maintained leading to low occupancy and inconsistent
income. The best managers draft a maintenance plan that seeks to increase the
competitiveness of the address. The plan should include both scheduled and
emergency maintenance details. The contract should capture what is required to keep
your house in the best condition possible. Costs and frequency of maintenance
should be reasonable.
·
Advertising
Plans
Tenants respond to
adverts when making a decision to occupy a property. It is the responsibility
of managers to advertise in the right platforms. Adverts shine spotlight on a
property with the aim of attracting the right tenants. Failure to advertise
means that regardless of the nature of your property, it will never attract the
right tenants. This will delay the rate at which you get returns on your
investments.
·
References
Property managers use advertising gimmicks to attract
landlords to their fold. All the details provided are not necessarily true. To
avoid falling into their trap, it is advisable that you get a list or contacts
of landlords whose properties are managed by your target company. Such
landlords will give you their first hand experience.
Having been rated among the best rental property management companies, we provide expertise and
excellent return on investment. We grant you the power to negotiate your
contract.
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