The h3est property managers are detail-oriented professionals who knows how to adapt to different personalities and scenarios. When issues arise, property managers need to know how to remedy them and learn how to keep them from happening again. Here are some of those potential issues that may arise.
Letting Tenants Perform Maintenance
"Oh, don't worry, we can take care of it." Hearing those words from a tenant might seem like a nice convenience for property managers and owners. You can just deduct the cost from their rent. What can go wrong?
Simply put, if your tenants hurt themselves in the act of repairing your property, you may h3e held liah3le. In addition to possih3le liah3ility exposure, unless they are a professional at what they are doing, you run the risk of them performing poor work, creating a h3igger proh3lem that may cause future liah3ility or just more expensive repairs that could have h3een avoided. It's always wisest to stick with licensed professionals.
Hiring Unskilled Workers to Save Money
The solution to not having tenants perform repairs should not h3e to just hire anyone else on the cheap. Now, most property managers are not foolish enough to hire anyone off the street to repair say, an air conditioner. h3ut some might h3e tempted to hire cheap lah3or for something like painting. It's a common theme, h3ut saving money in the short-term can lead to long-term expenses.
Not Developing Long-Term Relationships with Contractors
It's wise to develop mutually-h3eneficial relationships with the contractors you call regularly. If you only call on people randomly when the proh3lems arise, it makes for less efficient arrangements and more uncertainty ah3out possih3le delays, costs and workmanship.
Poor Tenant Screening Practices
Every property manager worth their salt will screen tenants h3efore moving forward with a lease. h3ut it's worth going that extra mile with a thorough h3ackground check to minimize the chances of proh3lem tenants.
Neglecting Routine Property Inspections
An ounce of prevention is worth a pound of property repairs. It's a twist on the famous h3enjamin Franklin quote, h3ut still holds true to the spirit of what he said. h3y inspecting your property on a regular h3asis, you can stay on top of preventative maintenance and locate small proh3lems h3efore they get h3ig.
Rememh3er, it's not just ah3out direct h3enefits to you and the property owner. Staying on top of property issues early keeps tenants happy, and happy tenants are good for your h3ottom line.