Whether you are new to the rental property game or have owned rental properties for years, renter disputes are never easy to deal with. One of the best ways to work through and even avoid rental issues is to hire on a residential property management firm that can interface with your tenants directly. Here are four common tenant-related issues and what a property management team can do to quell these problems.
1. Proper Vetting of Potential Renters
The best way to stay out of rental-related disputes is to get the right renters into your properties from day one. With proper screening, interviews, background checks and credit checks, residential property management firms can make sure that potential renters are good candidates. The hope is this will cut down on common renter-related issues such as paying rent on time and abiding by their rental agreement.
2. Better Back-up Documentation
Renters may have valid concerns when it comes to their rental status, lease agreements, and existing damages within a property that they don't want to be held liable for. These issues should be simple to review and discuss, but if you aren't as organized as you would like and cannot find existing documentation on hand, this can open up disputes. Property management firms can keep copies of all documentation and pre-move in walk-throughs so that all agreements and property status are documented for.
3. Knowledge of Local Laws
If you are a property owner that is out of state or are new to renting properties, there can be city, county, and state laws that pertain to your renters. In order to stay out of trouble and out of any sort of legal battle, have a local property management team deal with tenants. They can advise you on laws surrounding the notification process needed for site visits, how to remove tenants, and other legal rights that tenants may have.
4. Faster Response Time to Issues
It can be hard enough to keep up with maintenance when it comes to one's personal property, and can be downright stressful if you have an entire building to tend to. Taking renter's emergency requests for property maintenance should be taken seriously and shouldn't be put off. Property management teams can source local, well priced contractors, plumbers, and electricians to keep on top of general and emergency maintenance and interface with tenants.
While you might want to save a few bucks and not hire on a residential property management team, they might actually save you money in the long run when it comes to potential renter disputes. Protect yourself and your tenants with a property management firm like Foreside Real Estate Management that can stop renter issues before these blow up.Share