If you're sick of dealing with tenants and the headaches of managing your rental property or Apartment in Cochin
, a property manager or management firm might be just what you need. Before you make the leap to hire staff, read on for a list of what a property manager can and can't do. Either sold as a separate package or included in the property management agreement, advertising is an important component of the property manager's job. A property manager will work with you to advertise for and find a quality tenant. A quality tenant is generally someone who will treat your property with due care and be reliable to make on-time monthly payments.
Depending on your agreement, a property manager will take on the task of screening prospective tenants. Not only will they show the apartment, but they'll also handle the application and reference check process. Most property management firms will handle the preparation of a property for rental. This includes cleaning the space, painting the walls, washing the carpet, changing the locks and handling small maintenance tasks. For an additional fee, they'll also take on larger jobs.
Tired of getting calls from a tenant late at night regarding a broken door knob or a plugged toilet? A good property manager will take care of all tenant communications. If a tenant or unit problem escalates and requires major renovations, you'll be contacted. Otherwise, your property manager will handle any and all tenant requests. Alternatively, you can set the ground rules and guidelines as to how much financial and administrative authority your property manager has.
Tired of chasing down tenants for rent? A property manager will own responsible for collecting rent payments either through post-dated checks or on the first of every month, and then pass them on to you. A good property manager will prepare all your necessary legal documents, including lease or rental agreements, warnings, notices of entry, and even evictions. A good property manager can also attend all legal arbitrations on your behalf, depending on the tenancy laws of your state. If you're dealing with a property manager who handles multiple properties, you may be able to get a discount or bulk rate on costs like oil, advertising, garbage collection and janitorial services. Property managers have to make money somehow, usually charged as a percentage of the monthly rent.