Posted by By Paul Branton and Jennifer Hermon
Fortunately for us, not all property management companies are equal. Unfortunately for investors, having a bad management company can be expensive and very stressful. Here are some snippets of conversations we’ve had recently with clients leaving their current property management company and coming to Home Rental Services:
“I didn’t know my property was up for rent, let alone that renters weren’t renewing, until I saw it on a ‘For-Rent’ website!”
“My online account shows that I have money but they are not sending it to me!”
In the last month, Home Rental Services has taken over management of about a dozen properties because of these kinds of problems with the investor’s current management company.
This isn’t typical of our market.
Often, investors fear change. People will stick with mediocre service for a long time. But the unknown leads to desperation. We understand that. Not knowing why money is no longer coming in. Not knowing a renter is going to, or already has, moved out. Not ever being able to speak to an actual person for months. Don’t let yourself get to that desperation point!
If you find yourself in a similar situation, here are a few tips:
- If you have online access to your property rental information, log in right away to save/print every document and statement that you can find. Statements, leases, renter ledgers, etc.
- Check your old emails, especially those with attachments, for other documents you may have been sent. For example, copies of leases, owner statements and management contracts.
- Search for your property address on Google to find out if it’s been listed for rent on any websites.
- Send a written request (we recommend regular mail with proof-of-delivery) for any documents you cannot find. Be sure to find out who is holding the security deposit funds. Ultimately it’s your responsibility, as the owner, to account for and return the deposit to the renter.
Property management isn’t easy, and it’s not always perfect. But one thing we can promise is that during the business day, our phones are answered by a REAL person. Our owner clients receive a monthly statement and any disbursements available. Home Rental Services is not a one-man-show. We have property managers, leasing agents, listing agents, admin and support staff, and more. Renters can reach emergency maintenance personnel 24/7!
If we can help you protect your investment, or you want to learn more about Home Rental Services, please call or email us… we will answer!
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