Property management teams lighten the load for landlords by taking over a wide range of routine and emergency maintenance duties. They might have their own staff to handle the tasks or they may contract with a team of contractors for bigger projects or emergencies. Regardless, the members of a property management team should have some key qualities to be effective. These include reliability, ingenuity, professionalism, and experience.
One of the biggest reasons to hire a property management team is to save time. If you have several rental properties, it’s nearly impossible to manage them all on your own. There are countless administrative and financial tasks that need to be taken care of, including rent collection, rent deductions, tenant screening, lease renewals, renovations, maintenance, and more. Hiring a property management company can save you time and money by handling all of these tasks for you.
A good property management team will also help you avoid problem tenants. These can range from slow payers to those who violate the terms of their leases. For example, if a tenant is more than a month late with the rent, it’s likely that they’ll need to be evicted. In many cases, the problem can be worked out with a simple phone call, but in other situations, you might need to involve lawyers or take legal action. A good property manager will be able to resolve these issues quickly and effectively so you don’t have to worry about them.
Choosing the right property management team requires a great deal of research and planning. You need to find the team that will fit your needs, budget, and property type. Once you’ve narrowed down your options, choose a company that offers services that align with your goals and will provide the best possible return on your investment.
R Management is a full-service property management company that oversees the daily operations of commercial and residential buildings. Its team includes experienced management professionals and licensed real estate agents. The firm specializes in commercial and multifamily apartments, retail centers, townhomes, and condo and co-op communities. Its professional leasing efforts include diligent follow-up with prospective renters and detailed tenant screening to ensure that applicants have no criminal records, past evictions, large outstanding debts, or other red flags that could prevent them from renting your property. In addition, it performs a thorough credit and background check that is Fair Housing compliant.
Daisy is a fully-integrated condo and co-op property management company that is committed to improving residents’ lives. The team offers online rent payment options, 24-hour emergency repair response, renovation services, and a rich tech platform to track income and expenses. It also provides tenant screening and advisory services to ensure targeted investment returns. Its team of experts brings two decades of expertise in NYC real estate to client transactions. They have a deep understanding of the market and how to maximize your returns.