The relationship you have with your property manager is one of the most important relationships you build as a real estate investor. Ideally, both you and your property management team would have the same goals: to take care of the property and generate significant income. An investment property is most successful when a homeowner and a property management team work together.
Whether you are a first-time landlord that needs a little help navigating the world of real estate investments, or you’re a seasoned investor-owner who prefers being more hands-off, building a positive relationship with your property manager is the first step towards success.
For a little more insight on how to build this positive relationship with your property manager, here are five things your property manager wishes you knew:
1. Follow The Rules
Real estate investments, just like almost everything else in our society, run best when there are guidelines and rules to follow. These rules are in place so that people stay safe, that laws are followed, and accidents and damages are reduced. You have specific rules for your condo, and you expect the property manager and tenants to follow them. The property manager has rules for their owners as well. Following these guidelines and community rules goes a long way in maintaining a positive relationship with your property manager.
If your property manager is managing more than just your property, they can’t bend the rules for you and expect the other owners not to notice. The rules are there for a reason, and you make the property manager’s job a lot easier when you abide by them.
2. Kindness Goes A Long Way
It’s important to remember that property managers are people too. You’ll probably be able to solve a problem a lot faster through patience and kindness than you will through yelling and threats. Often, homeowners only go to their property managers when there is a problem. And while handling problems is what they are there for, they also appreciate hearing good news too. A little thank-you or acknowledgment of a job well done can mean a lot for a busy property management team.
You also can improve your relationship with your property managers by improving your relationship with those in the community. Showing a little kindness and courtesy to those who live around you can make everybody’s job a little easier.
3. If You See Something, Say Something
Your property management team is responsible for working as an extra set of eyes and ears on your specific property and the community. However, they can’t be everywhere at once. If you see a problem, say something about it right away. If you notice there is an issue with a public amenity like a swimming pool or a tennis court, say something as soon as you notice it. If you notice there is an issue within your specific condo, let your property management team know before it turns into a much bigger issue. Withholding information from them or just assuming someone else will bring the problem to their attention hurts everybody involved. If you see something, say something.
4. Keep The Communication Flowing
Property managers are really good at what they do, but they are not mind readers. They can’t help you solve a problem if you don’t communicate that there is a problem in the first place. Clear and consistent communication between you and your property manager will make everybody’s job a little easier.
Provide multiple ways for your property manager to get in touch with you. If there is an emergency or a property manager needs to make a decision on your behalf, they may need to contact you right away. Effective communication goes both ways. If you expect your property manager to respond to your emails and texts promptly, you have to give them the same respect.
5. Not Everything Is An Emergency
Property managers are in the business of handling emergencies when homeowners are not around to do it. If a pipe bursts in the middle of the night or there is a medical emergency with a tenant, your property manager is usually the first in line to take action. This is why so many people hire property management companies to look after their properties when they can’t be there to handle emergencies on their own. However, not everything is an emergency. A toilet that is running or a dishwasher that is not working correctly does not warrant a 3 a.m. call to your property manager.
There are some rental issues all condo owners will eventually face, and your property management team is more than equipped to help you handle them. But property managers also appreciate it when a homeowner takes discretion when requesting emergency attention.
Final Thoughts From Del Condominium Rentals
One of the best things a homeowner can do for their investment is to build a positive relationship with their property manager. This begins with honesty, respect, and cooperation.
Del Condominium Rentals is responsible for handling all of the behind-the-scenes work that makes an investment property run smoothly. New landlords and seasoned investors who are looking for a more hands-off approach to real estate investing trust Del Condominium Rentals to take care of their properties seamlessly. We work hard to foster positive professional relationships, which is why so many investors trust us to manage their properties.
Are you interested in working with a property management company like Del Condominium rentals? Get in touch with us today at 647-952-3644 or email us at firstname.lastname@example.org
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