One of the most important roles of property management st. Louis mo company is to preserve and ideally increase the value of a property owner. They ensure that the requests by tenants are promptly addressed and provide owners with a system that is transparent to see how their money is being spent. A competent property management company uses the assistance of their internal staffs and a qualified & licensed network of vendors whom they have been vetted for their excellent cost-effective service.
Below are some review and questions to ask the property management st. Louis mo before hiring them:
How does a property management company track incoming tenant’s maintenance requests and the subsequent work orders?
A software solution should be the best bet. You will want to hire a property management company that has a system that does not allow the request of maintenance to fall through the cracks and will not require tenants request before the work is done. Tenants should be able to submit requests for maintenance online.
How are after hour maintenance requests and emergencies handled and who handles them?
You will want to hire a property management company that has a staff who is qualified to handle the problems. The last thing a tenant wants is an answering machine or an individual saying you have to wait until the opening hours to get maintenance issues resolved.
What is the system they have in place to practice preventative maintenance?
A competent property management company uses a preventive maintenance mechanism to maintain the value of a property and avoid small issues becoming larger and more expensive issues. This mechanism should involve things like scheduled inspection and maintenance that is predefined as well as addressing known issues promptly.
What contractors do they work with?
You should hire a property management company that works with contractors that are licensed, bonded and insured. You should ensure that the company you are hiring oversee the work of the contractors for quality, cost-effectiveness and code compliance. You should take the extra step of researching the contractors used by a property management company to ensure there are no red flags.
Do they have any conflicts of interest with their contractors?
You should ensure that you are fully informed of the relationship between a property management company and the contractors. Contractors reward management companies for their business, but you should be informed of rates that are discounted, which benefit the owner of the property, rather than bonuses for the referral that goes to the property management company.
Do property management company let tenants perform repairs?
When tenants perform repairs, the repairs are of inferior quality and the lack of insurance coverage or compensation for workers might leave the property owner liable when an accident occurs or injury. You should ensure that the property management company you are hiring do not allow tenants to make repairs by making sure it is included in a rental agreement. If you are comfortable allowing a tenant to make repairs, you should let a tenant sign a waiver and agree that the repairs must be approved by the property management company.
These questions are vital to helping you decide the property management company to hire and to know the company that will best repair and maintain your property.