As population numbers continue to rise in Australia, so to do the number of people looking to rent homes. This alone is keeping the property management industry busy and there’s nothing easy about being a property manager.
Ask any tenant about property managers out there, and they would put forth their opinion about good and bad ones. If you are a property manager, or are going to become one, make sure you add to your list what traits you will need to become a great one.
There are certain things that you need to ensure get done before your tenants consider you an awesome landlord. Bricks+Agent property manager guide 2018 will teach you some of the essential things you need to take care when it comes to tenants.
Do background and financial checks
When leasing a property to any unknown person, it's essential to understand what kind of background they have and what financial condition they are in. It's important you don’t discriminate against potential applicants race, religion, gender, or any other discriminatory factors. Running a credit check will help you understand their financial situation and whether they are likely to pay rent on time and a background check will ensure they don't have a criminal record.
Communicate with the tenants
Before you give away the keys for a property to tenants, make sure they understand and sign the entire lease agreement. Also, prepare yourself for questions that tenants might raise before agreeing to sign the contract.
Respond to their complaints
One of the best qualities that a great property manager must possess is fast response time. If your tenants are experiencing any troubles on the property that you manage, you must understand their concerns and get the issues resolved as quickly as possible. Even if you cannot respond immediately, let them know when they can hear back from you in the future. It is ultimately you who can provide necessary maintenance, repairs and renovations for their rental property.
The phones of real estate agents and property managers are always ringing. It seems like their discussions with clients are never-ending. Sometimes, smartphones don’t have enough battery last all day. Having a USB charger in the car will allow you to keep your phone from going flat and stay connected to clients and team members.
Know and understand the laws
Legal matters can sometimes affect your property or your relationship with the tenant. To avoid this from happening, you must stay up to date on the local laws that cover the tenant’s rights, security deposits, and evictions. If you happen to violate any regulations regarding the matter, you might end up in the local court. Therefore, you must be well aware of the acts and laws about the property managers and tenants.
Respect their privacy
Although it's your right to inspect a property on behalf of the landlord, showing up unannounced or at odd hours will not be appreciated by tenants. It could even lead to loss of tenants, reputation and ultimately money. Tenants expect privacy, and you must adhere to this. This is necessary because good tenants are not easily found, and if you wish to renew a lease, it's essential that tenants feel at home.
Maintain professional relationships with tenants
It's natural that you share a friendly relationship with your tenants but try to keep it professional, especially when you have some crucial decisions to make. Respect their views and problems, but never let them take advantage of your friendly nature. This is something that might potentially put you and your business in danger.
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