“How Property Managers Should Take Care Of Rental Units” written by Mike Marko.
Are you a property manager looking for ways on how best you can take care of your rental units?
You can have a successful rental property business by seriously executing your business responsibilities. Aside from screening to get tenants that’ll stay in the rental property, property managers still have other duties to fulfill. One of these duties is taking care of the rental units.
When the rental units are properly taken care of, it will be easier for you to attract good tenants for your rental property business. Tenants will more likely choose rental units that are properly maintained. Rental units that are clean and well taken care of will welcome more good tenants.
So let’s take the time to discuss how you could take care of your rental units and grow your property management business.
How To Take Care Of The Rental Units
As you grow your property management business you should always be aware of the conditions of your property rentals. Knowing the conditions, like when buildings need to be painted, or parking lots need to be resurfaced helps you plan for the long term care of your properties. However keeping up on the care and maintenance for tenant ies should be a top priority in your rental business.
One of the best ways to keep your rental property business running is to make sure that it’s a place where tenants will be pleased to live in and there are no maintenance issues pending. If you’re unable to keep up on maintenance of your rental units then it will not be easy to get tenants who will like to rent your property or if you already have tenants, it will not be an easy job to convince them to stay on your rental units longer.
While running your rental property business, it’s important to keep in mind that it’s your job to take care of the rental units all the time. Your rental property business will grow if you don’t want to turn your business into a poor investment; than means keeping up on maintenance and upkeep of the units. Make it a major priority that the rental units are properly maintained all the time.
Take Care Of The Rental Units Before It’s Rented
Whether you are taking over new property or a tenant has just vacated a property you are managing the job of taking care of the units begins now. The best strategy to help your property management business grow is to make the rental property a place where they would love to live in.
When a rental property or rental units becomes vacant, you should make sure to conduct a routine maintenance on it. When the property is vacant it is the best time to have a handyman, contractor, or a person designated to check the unit for any problems that could arise for future tenants. Even if there are no tenants living in the rental units, you should always keep the place clean. You never know when a potential tenant will want to see your rental units so it would be best if you’ll keep the place clean and always pleasing to the eyes for potential tenants.
It is best to develop a list of things to check each of your units when they become vacant. Check all the appliances that are available in the rental units. If there are malfunctioning or aging appliances, have them repaired or replaced as soon as possible so this won’t be a problem for your future tenants. Don’t hesitate to replace appliances that can’t be repaired anymore. Additionally, if needed purchase appliances that are more sturdy and reliable rather than the cheapest ones.
New paint on walls and cabinets as well as new carpet or cleaned carpets helps with the overall appearance of the rental units when renting them. Rental units will be more attractive to tenants if it’s newly painted. It will also give the place a fresh look which will make it more enticing to live in.
Whenever you’re done in renovating a rental unit, make sure to take pictures or shots of every from every angle to help with advertising the unit for rental. In addition to advertising benefits you can also use these pictures to detail condition of the unit prior to tenant moving in and can be used as your reference when damages occur in the future.
Take Care Of The Rental Units While It’s Rented
Once you have chosen good tenants for the rental units, this doesn’t mean that you can fully entrust the units to them. Even if it’s their responsibility to take care of the units as well, you also have to make sure that the rental units are properly taken care of all the time.
As a property manager, you have the right to run inspections of the rental units from time to time. But before you enter the homes, you must communicate with your tenants by notice that you will be conducting an inspection.
If your rental contract states that you need to give the notice a day before the inspection, then you must do so. A good property manager should abide by the rules that are stated on the rental contract. Note that there may be local laws that also govern how much notice you must give your tenants, it often being at least 24 hours.
Complaints and Repairs
You should also attend to the tenant’s requests and problems regarding the rental units. When a property manager is attentive to the needs of the tenants, the tenants will be more at ease knowing that they have a reliable and dependable property manager. It’ll also be a good way to build your relationship with your tenants. When you have a good relationship with your tenants, they may even make you a favor in being responsible for taking care of the rental units themselves.
Having a good relationship with your good tenants is also your strategy in a way… when you have earned your tenants’ trust and your tenants became comfortable living in the rental units, it will be easier to convince them to renew their rental contract.
You can also use this opportunity to do an impromptu partial inspection. I’ve use this opportunity to get some information from my handiman about the condition of the home.
Take Care Of The Rental Units After It’s Been Rented
It’s just natural that a rental contract will end. If it is not renewed, then the property manager has a whole new set of responsibilities.
When a tenant’s rental contract ends, the job of the property manager is to check the rental units for damages that may have occurred in it before the tenants leave. This is the time to use the photos you took before the rental units are rented. Make a comparison between the look of every room before and after the tenants rented the property. This is a security measure that helps prevent incurring losses in your business.
If you found out that the damages cost greater than the damage deposit given by the tenants, it is your right (and responsibility) to ask them for the additional amount needed to cover the full amount of the damages.
As a property manager, it’s also your job to protect your investment. You should do this by making sure that there will be someone liable for the damages that occurred to the rental units. Otherwise, you will gain losses in fixing the damages. And this is not a good thing for your business.
Final Thoughts On How Property Managers Should Take Care Of Rental Units
The success of a rental property business also depends on how a property manager takes care of the rental units. In this article we talked about ways to attract good tenants into renting the rental units, which include property managers keeping the property clean and well-maintained all the time. Even when there are tenants renting the units, property managers should still be responsible for running inspections periodically to make sure that the rental units are in good shape. When a rental contract ends, the duty of a property manager is to check for damages that occurred in the rental units.
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