3 Things to Do as a Property Manager

Real Estate Blog

The key to owning a successful property management company will depend on the things you do each day. Taking care of your customers is sure to be at the top of this list. However, you should work to complete specific tasks that will help the property owner feel better about hiring you. Being aware of some things that you should accomplish on a daily or monthly basis is sure to be beneficial to your business.

Screen potential tenants

One of the things that are necessary to do is find the right tenant for the apartment or home. This will take the right amount of time to achieve, and there are certain things that will be necessary to complete.

Below are top ways to screen tenants:

  • Ask about the current living situation and get a list of reference.
  • Request evidence of income, such as a W-2 form or the previous return from the prior year.
  • Get the name of the current employer and how long this person has worked there.
  • Check the credit rating for the potential tenant.

Collect payments

You will want to be sure to collect the rent each month from the tenant and it's necessary to let this individual know the types you'll take. This is one of the tasks you will need to keep up with on a monthly basis.

Additionally, if any payments are made after the due date, you should be sure to fine a fee for being late.

Check the property

It's up to you to take the time to ensure the property is in the best possible shape while the tenant is there. Taking time to view the outside and the inside of the home or unit is necessary to ensure there isn't any damage.

You will legally need to give the tenant a notice of when you intend to do this according to the laws in your area. Otherwise, you could be taken to court for not following the requirements in the area in which you live.

There are numerous benefits of being a property manager and the key for getting the job done and stressing less about it is knowing what to do beforehand. Ensuring you do all the things that are above will allow you to have a much better experience and you can keep your customers happy. To learn more about property management services, contact services such as MacPherson's  Property Management.

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10 January 2018

Improving Your Real Estate Holdings

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