Property Management – Canoga Park – Signs of a Good Property Manager

 CANOGA PARK PROPERTY MANAGEMENT

Signs of a Good Property Manager

Many times landlords worry about what mistakes their property managers are committing that the client will end up responsible for. However, where there is a good property manager operating, he or she should be recognized. The last thing a landlord wants to deal with is having to find another property manager on the fly after firing the last one abruptly. In that respect, there are signs a landlord should look for that signal a property manager who should be kept on the books.

A capacity to negotiate to win your business. Too often property managers focus on their marketing and new landlords’ naivety to win business. However, landlords don’t need to agree with packaged prices. Those property managers who are willing to compromise to win business show a willingness to work with their clients.

The property management avoids add-on fees. Many property managers looking to make a dollar on every corner pack on add-on fees at every possibility. These include occupancy fees, marketing fees, advertisement fees, and so on. A good property manager gives a landlord a flat cost for his costs and sticks with it. This provides stability and predictability.

Communication is number one. Nothing causes landlord anxiety faster than being kept in the dark. A good property manager regularly updates his client, lets him know immediately about any issues with the rental property, and recommends or describes mitigations steps to stop the problem quickly. Additionally, a good manager also provides regular contact information for 24/7 access.

The manager’s skill fits your property’s needs. There are general property managers and those who understand rentals with specialized needs. A good property manager is one who has the experience to identify and meet the unique needs of a property that won’t be met by general services.

Frequent and timely financial reporting is provided. At the end of the day, a landlord wants to know where his income is and if there are any problems. A good property manager coordinates and tracks the financial information for a rental like banker, keeping the value of the business safe and transparent. Regular and timely reporting also addresses status concerns for the landlord.

A variety of property services is available and provided. Property managers who understand the concept of whole service provide and take care of multiple services on a rental. Beyond just collecting the rent, a full service manager can provide legal assistance, screening, background checks, collection services, and construction services in some cases.

Good property management shouldn’t be ignored; it should be protected and rewarded with more business and referrals. Good service is hard to come by. When found, a good property manager works like gold for a landlord.

by Tom Lutzenberger