Saturday, June 6, 2009

Ever felt like you didn't want to deal with problem tenant

Why not hire a property manager? Property Managers take the hassle out of owning investment property.

Please note: Each property manager duties will vary depending on your contract.

Ever wonder what a property manager duties are:

A. Leasing Units
Advertise rentals
Answer phone inquiries about vacancies
Show vacant units
Accept rental applications
Run credit checks
Select tenants
Accept initial rents and deposits
Negotiate rental leases
Sign leases and sign property condition checklist
Give required disclosure forms
Offer residents optional upgrades and payment plans

B. Property Turnover
Inspect unit upon tenant move-in
Conduct anniversary meetings and send thank you letters
Inspect unit upon tenant move-out
Supervise general cleaning of unit upon tenant move-out
Supervise cleaning of floors, carpets and rugs
Order the cleaning of kitchen cabinets, countertops, sinks, stove, oven
and refrigerator
Order the cleaning of bathtubs, showers, toilets and plumbing fixtures
Order the repair of doors, windows, window coverings, and mini-blinds

C. Rent Collection
Collect rents when due
Promote and establish auto draft and electronic payment accounts
Sign and send rent receipts
Maintain rent-collection records
Collect late rents and charges
Inform Owner of late rents
Prepare late rent notices
Serve late rent, pay or quit, and unlawful detainer notices
Serve rent increase and tenancy termination notices
Deposit rent collections in bank

D. Maintenance
Conduct monthly drive-by inspections
Conduct semiannual interior inspections
Provide monthly report of maintenance, repairs, and utility expenses to Owner
Give rental violation notices when applicable
Order the cleaning of hallways and entryways and other common areas
Order the cleaning of stairs, decks, patios, façades and sidewalks
Order the cleaning of garage oils on pavement
Lawn care, trim bushes and rake leaves
Order the cleaning of garbage and debris on grounds
Arranging for snow removal

E. Repairs (arranging for repairs for the following issues)
Accept tenant complaints and repair requests
Inform Owner of maintenance and repair needs
Categorize and maintain written log of tenant complaints
Plumbing stoppages
Garbage disposal stoppages/repairs
Faucet leaks/washer replacement
Toilet repairs
Stove burners/hinges/knobs repair or replacement
Appliance repair
Light switch and outlet repair/replacement
Heater thermostat repair
Window repair/replacement
Painting (interior/exterior)
Key replacement
Handle all other routine maintenance and repairs

F. Other Responsibilities
Provide his/her phone number to tenants as an emergency contact number.
Within reason, Manager should be able to respond at any time to an emergency.
Meet or call Owner weekly (or monthly) to consult on the job priorities and
give updated reports on status of residents and management priorities.
Submit weekly/monthly reports to Owner detailing activities, materials
purchased and receipts.

No comments:

Post a Comment