If you just acquired a home that you wish to rent out for extra cash, and you live in another area of the country, you will most likely be interested in hiring a property manager to take care of tasks pertaining to tenants and the condition of their living quarters. There are several tasks you can do from the comfort of your home to ensure the property management company is equipped to handle all types of problems with tenants or the property in your absence. Here are a few tips you can use to make sure your home is well-cared for while keeping your tenants happy with their living arrangements.
Provide Your Property Manager With Welcoming Tools
Take the time to go online and print information about several local businesses in the area where your property is located. Each paper can be placed in a plastic sheet protector and then placed inside a three-ring binder. Separate information according to subject, such as restaurant menus, local attractions, and handy phone numbers. Inside the binder, place a list of rules you wish for your tenant to adhere to while living in your home. This information can also be given to the tenant at the time of the signing of a rental agreement. Keeping a copy in the welcome binder, however, will help remind the tenant of the behavior you wish for them to follow while using the home. Send this information via mail to your property manager to give to a new tenant upon their signing of a rental agreement. The tenant will welcome this quick reference at a time they are getting used to a new location.
Give Your Property Manager A List Of Contractors
Your property manager will be in charge of taking care of any repair work needed inside of your home. If you have a preference in what contractors are contacted, it is best to give this information to the management company at the time you hire their services. Prices can be compared beforehand to determine which companies you feel would best handle jobs like fixing a furnace, dealing with a water leak, or tending to damaged drywall. Think about each problem your home may acquire and call several services to ask about their rates and to get a sense of their demeanor over the phone. Compile a list of your favorites for your property manager to use to select a repair service when needed.
Make Yourself Easy To Reach In Case Of Emergencies
A property management company will handle the collection of late rent, deal with problems between neighbors, and make sure your property is being cared for as you wish. There are however, times when you will want to be involved in the decisions being made. Make sure you let the property management company know when they are to call you to ask questions. If you wish to hear about damage before the management company calls for repair work, make sure to place this in a document form to give to the management company at the time they are hired. This will take the guesswork out of your property manager's job. Let your property management company know they can reach you at any time via phone or email so they will have the means to locate you should a problem arise.Share