Escape the Silence: When Was the Last Time Your Property Manager Contacted You?

And we don’t mean by automated emails!

Being a landlord definitely has its ups and downs, right? But making sure things run smoothly is all about a good management system. Your property isn’t just a place that brings in money; it’s an asset that needs TLC. In this blog, we’ll explore some key considerations to ensure you are getting the most out of your property management investment.

Communication Is Key

When was the last time you heard from your property manager? Good communication is like the secret handshake of a successful landlord-manager relationship. Regular updates, whether through emails, phone calls, or monthly reports, keep you informed about your investment and any relevant market changes.  When your manager keeps you in the loop, it shows they’re on top of things.

Proactivity in Maintenance

A proactive property manager is your superhero. Maintenance issues can quickly escalate if not addressed promptly. A proactive property manager will not only respond promptly to tenant concerns but will also conduct regular property inspections to identify potential issues before they become major headaches. This superhero move not only saves you money but also prevents small issues from turning into wallet-draining disasters.

One common concern among landlords is the timing of maintenance issues. Does it seem like all repairs come at once? A well-organized property manager will have a maintenance plan in place to ensure that repairs are spaced out, preventing a sudden influx of expenses. This strategic approach helps you budget effectively and minimizes the impact on your cash flow.

Optimizing Rental Income

Are you achieving the right rental income for your property? A savvy manager knows the local market well, setting competitive rates. Checking and adjusting rent regularly maximizes your investment return.

Manager’s Workload

How many properties does your property manager handle? If they’re stretched thin, it might affect how well they look after your investment. The number of properties per property manager should be maxed out at about 170 properties. While it’s common for property managers to handle multiple properties, it could impact their ability to provide the attention and care your property deserves.

Conclusion

Enabling the right managing agency to do the hard work for you is the key to being a stress-free landlord. By keeping communication open, staying on top of maintenance, optimizing rent and doing routine check-ins, your property manager will protect your investment and you will get to enjoy that passive income with a smile. Contact us if this approach sounds like something you would like to hear more about.