7 PROPERTY MANAGEMENT TIPS & TRICKS FOR SUCCESS

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Property management involves many tasks, including dealing with tenants and negotiating garbage removal contracts. Property Management Gig Harbor is essential to ensure everything runs smoothly 24 hours a day. Things can and will happen. These seven property management tips will help you to manage various situations and issues.

1. Establish policies and protocols; remain consistent

Property managers should have policies and procedures to avoid miscommunications with tenants and possible problems. Every property rule for tenants must be written and given to the tenant at lease signing. Property managers should have procedures in place for different situations. Property managers should have protocols in place for other conditions.

2. Keep up-to-date books or hire a bookkeeper

Keeping organized financial records about tenant rent and property expenses, such as maintenance, employee payroll, and trash collection, is essential. Keeping track of what money is coming in and going out is necessary. Hire a qualified bookkeeper if your property manager duties are too busy.

3. It’s okay to outsource

Sometimes outsourcing is a good idea. For example, hire a bookkeeper if you are overwhelmed by financial paperwork. Specialists should also handle certain repairs. Professional cleaning is required for carpets that pets have repeatedly rubbed. It would help if you considered a full-service provider such as ServiceMaster clean

4. Routine inspections can be scheduled and performed to reduce problem risk

Regular inspections can reduce the chance of problems within and around the property. You should inspect the following items:

  • All smoke/fire alarms
  • Fire/emergency door access
  • HVAC systems
  • Roof and downspouts
  • Decks
  • Windows (check for cracks or sealant issues).
  • Laundry areas can have water lines

5. Keep Supply of Key Property Management Tools

Each property has a list of management tools, including promotional/marketing materials, safety items, and paper essentials such as parking permits and blank lease copies. A well-stocked inventory of property management tools can make your day more efficient and reduce the likelihood of doing unnecessary work. A good property manager will also keep an inventory list for emergency supplies, on-site maintenance, and office supplies.

6. Attempt to resolve disputes first without lawyers

Tenant disputes can often be resolved by meeting with the tenant to address the problem. Before threatening eviction or calling in a lawyer, be sure to follow all property protocols. The issue can often be resolved informally in many cases. The most common problems are noise violations, late rent payments, and management’s inability to enter an apartment to make repairs.

7. Establish and maintain office hours

Although this may seem the easiest of all property management tips, your tenants must know when the office staff is available for non-emergency situations. Tenants can contact property management quickly and easily during established business hours. This allows them to avoid putting off a maintenance call that could cause damage to their unit. Prospective tenants can also inquire about rental availability by visiting the office during regular hours. Managing a property successfully takes hard work. ServiceMaster Clean can help you with janitorial service or professional carpet, upholstery, hardwood, tile, and grout cleaning. We will clean the unit and make it available for the next tenant.

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