When you have an investment property, hiring a property management company to take care of your assets is sometimes better than managing everything yourself, especially if you have more than one property.
Here are some of the responsibilities and function of property management companies:
The most effective asset management responsibility is communication. It is important to communicate effectively with tenants, owners, and suppliers. Make sure everyone on the same page is aware of what needs to be done.
It is important to expect financial reports on a regular basis. These reports must include any account, the money received, paid bills and other expenses.
The report should include the cost of maintaining the property, such as carpet cleaning, electricity, lawn care, painting, plumbing, and other items such as recurring costs.
Property managers should get a detailed report that shows all the properties assigned to their care.
Property management team receive calls and demands of tenants for repairs and maintenance when needed.
These calls can come at any time of day or night, and if the state of emergency that requires immediate attention to your property, the management team will be able to handle the emergency.
Many companies have their maintenance accounts with companies and entrepreneurs who perform various types of repair.
It is the duty of the management team to keep your property occupied by tenants, not that a property should be vacant for a long period. When all units are unoccupied, the owner loses money.
Property Management Company, having probably, will have a database of tenants ready to hit the road as soon as the current tenant moves. This database is usually drawn as a result of their marketing efforts such as online ads, newspaper ads, and sometimes as a result of the characters displayed in several places in the neighborhood.
Screening of tenants
When a potential tenant is in search of the property, it is the responsibility of n estate manager to screen the tenants before renting the property for them. This may include verification, credit check, and personal references. Many companies have a measuring scale that determines whether the applicant is reliable and safe.
Property managers must carry out regular checks on the property to ensure that all tenants are trying to keep the asset good as it was stated in the agreement of their lease. The building must be inspected by the state foundation, roofing, plumbing, and gardening.
The management company will distribute press releases to tenants often in the form of a newsletter for use and inform them about the activities of the community, important issues, and urgent issues that need attention.
If you are in St Louis and you are in search of a property management company to provide or offer all this function as a company, then you need to contact Dunamis Property Management because their service is outstanding. If you have any further question regarding the service Dunamis Property Management offers, you can visit and contact us via the official website www.dunamispropertymanagement.com.