Can a property manager help me avoid bad tenants?
Typically bad tenants will target owner-managed rentals because they can’t pass muster with property managers. They know that when a property is for rent by the owner the rent will be less and there will be less scrutiny of their financial situation. Because bad tenants can’t be evicted without notice and an eviction can take months and cost you money, property managers will track references and do their utmost to avoid potential bad tenants and associated eviction problems.
Do states require that property managers be licensed?
Most states require that a property manager have either a property management license or a real estate license.
Can a property manager help me comply with federal, state and local laws?
Yes. Property managers must understand and comply with provisions of the legislation, such as the Americans with Disabilities Act and the Federal Fair Housing Amendment Act, as well as local fair housing laws. They must ensure that their renting and advertising practices are not discriminatory and that the property itself complies with all of the local, State, and Federal regulations and building codes. Property managers also have the resources and knowledge to help evict problem tenants. In short, property managers know your rights and obligations as a landlord, which could limit your liability exposure.
How do property managers keep track of so many properties?
Many property management companies use property management software and property management programs to keep track of repairs, rent collection, communications, inspections and lease renewals.
Will a property manager show my property?
Yes. While it may be inconvenient for you to take time to show your property and to deal with potential renters who may not show up for their appointments, it is a property manager’s job to respond quickly to requests from potential renters to view a property and property managers can also pre-screen potential tenants.
