What Does a Puget Sound Property Manager Do?

Before you begin working with a professional Puget Sound property management company, you should know what to expect.

No two companies are the same, but when you hire a property manager to professionally and expertly manage your residential rental property, there are several things that they will do for you. Before you sign a management contract and pay a management fee, make sure you understand the services and the value you’ll be receiving.

These are some of the standard functions of any property management company.

Leasing Your Property to High Quality Tenants

Minimizing your vacancy time and placing a qualified tenant into your property should be your manager’s first priority. Everything that a management company does for you depends on the tenant who is renting your home.

First, your property manager should evaluate your property and make any recommendations about how to make it more appealing to potential renters. This might mean a fresh coat of paint, updated appliances, or better landscaping. Then, your property manager will compare your home to competing properties in the local market. You’ll settle on a rental value and list the home.

The advertising and marketing process should include online advertising and networking. A good property manager will handle the questions that come in from prospective residents and schedule showings. After the showing, your property manager should follow up with the people who saw the home and offer them an application.

Rigorous and Fair Tenant Screening

Once an application is submitted, a property manager will use a consistent and written set of rental criteria to screen your tenant. Make sure you’re working with a management company that looks at eviction histories, criminal histories, credit reports, and employment. You want to be sure a tenant’s income and rental history is verified.

Your property manager should talk to former landlords and put together a profile that accurately reflects the applicant. Then, a decision will be made on whether or not a lease will be offered.

Once a tenant is approved, your property manager will handle collecting the move-in funds and arranging for a move-in inspection. Your management company will keep records that reflect the condition of your property before a tenant takes residence.

Rental Property Maintenance and Repairs

After your tenant has moved in, a property manager will take care of everything involved with the tenant relationship and your rental property. For example, rent will be collected from the tenant and deposited in your account. Questions will be answered and the lease will be enforced.

One of the most important functions of a property manager is maintenance. Your management company will take care of repair and preventative maintenance issues and respond to emergencies. Hopefully, you choose a management company with 24-hour availability. This is important if there’s a maintenance emergency at the property. If a tenant wakes up to a flood or a lack of heat or comes home to a fire, you want your manager to respond right away.

Providing a Better Rental Experience

Your property manager will also do things like provide you with accounting statements and stay up to date on the legal and regulatory requirements associated with renting out homes. You can expect inspections, lease renewal negotiations, and advice about when to raise rent or evict a tenant. More important than all these services, however, is the peace of mind you have knowing your property is being managed by a professional who has years of experience and plenty of resources to protect your investment. You can count on better tenant retention, lower vacancy, and a smaller risk of running into legal nightmares.

We’d love to tell you more about our Puget Sound property management services. Contact us at People’s Real Estate today.