Most people associate property management companies as working only for the property owner and not the renter. After all, it is the property management company that will pursue tenants for late rent payments, add fees when the tenant fails to meet their obligations of the contract, and begin legal proceedings when an significant breach of contract has occurred. Objectively looking at all those cases it comes back to the tenant failing to meet the contract. The property management company isn’t the bad guy, they are simply doing what they must in accordance with the documents everyone signed. So why would a renter actually seek out a property management company when renting? What are the benefits to the tenant for using a management company?
The primary benefits are:
- Well Maintained Properties
- Formalized Processes
- Ease of payments
- Future Support
Availability: Murphy likes to play in rental properties as much as anywhere in life; “Whatever can go wrong, will go wrong, at the worst possible moment”. A property management company such as Real Property Management Tidewater will always be available at that moment. Someone is available 24/7 to take the call and address the problem. With an individual landlord the problem is likely to occur when the landlord is on vacation, or the landlord lives out of town; anyway so any coordinated response will take time. Real Property Management Tidewater is local and can respond immediately to emergency situations.
Well Maintained Properties: Property management companies such as Real Property Management Tidewater take pride in presenting properly maintained, quality rental properties.They perform preventative maintenance routinely to reduce the risk of unexpected problems. It is always cheaper and less impact to perform maintenance then to make a repair. Therefore the quality of a property management company property is more likely to be higher than that of a private landlord.
Formalized Processes: Property management companies must follow strict guidelines and adherence to business laws. Therefore their processes must be formalized and fully documented. Fortunately this helps the tenant as well as the owner because it clearly spells out expectations of everyone involved. As long as you uphold your requirements as a tenant the property management company will uphold the requirements of the owner.
Ease of Payments: When dealing with an individual landlord the tenant usually has to mail in their monthly rent check. This requires reliance on the mail system, which isn’t always timely. Maybe the check gets lost in the mail or held up for a couple days. Then what? It is your word against theirs. Property management companies such as Real Property Management Tidewater uses the latest in technology to make rent payment simple. A web portal makes paying the rent easy and instant. No more questions of whether the rent was sent in on time.
Future Support: Lets say you have been renting for a couple years and your family has grown. You aren’t quite ready to buy a house but you have outgrown your current home. The rental experience has been good and you would like to rent from the same landlord instead of rolling the dice again. What are the odds of an individual landlord having additional properties available? Probably not real good. But with a property management company like Real Property Management Tidewater the odds that a larger property will be available to fit your needs greatly increases. You can maintain the relationship and the home quality you have come to expect.
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