Property management is all about doing the best work possible for property owners. At least, that’s what we believe at Talk Property Management/Broker. We know not everyone thinks this way and many agencies fail to live up to the standards set for them by their owners. If you find yourself in this situation, keep calm and hire a new property manager who will take care of you, your tenants and your property.
- You’re Losing Money. If you are working with a property management company that can’t promote your property, doesn’t make time for you, isn’t keeping an eye on your investment and won’t deal with troublesome tenants, then you are definitely going to hurt in the long run, even if you aren’t currently. The only way an owner can charge a premium for their property is if the property is being properly promoted and appropriately managed.
- Good Tenants Will Leave. When there is an issue with difficult tenants and it isn’t dealt with properly, your otherwise happy tenants won’t stick around. One, it’s unfair to those who are considerate of others, keep things clean and make an effort to be good neighbors for someone else to be getting away with bad behavior. Two, tenants who are behind on rent and stick around aren’t always likely to keep that information to themselves. If your tenants who pay rent promptly on the due date get wind of this, you can guarantee they will be moving on or possibly adopt their own bad habits.
- Your Name is Being Tarnished. They might take some of the heat, but ultimately it will come down to you, as the owner. If a situation arises that gets the attention of local government, activists, media or law enforcement it doesn’t matter whether or not you were aware of it, you are on the hook. This is particularly important for property owners who live out of the city or state in which their property is located. When you have no opportunity to even drive by and check in, you are at the mercy of your property manager.
- You Can’t Get a Renter Interested in Your Property. You’ve listed the property, your property manager swears they are promoting it but can’t give you any real proof and you aren’t seeing any real interest, applications or activity that means much of anything. In this situation, you may be paying for services that are not being provided or something has happened to the property that is keeping people from acting on it. The reason could be anything from a dirty house, to insect issues, or something more serious like graffiti or massive damage to the interior of which you are unaware. If you are dealing with this, it may be time to pay your investment property a little visit.
- You’ve Been Getting Complaints. It takes a lot of aggravation for a tenant to not only track down owner information, but then to contact them directly. If you find you are receiving multiple direct calls or emails from tenants who are getting little to no response from property management, then you know business is not being taken care of and it is time to deal with the issue pronto before you start losing leases.
When you encounter a difficult or absentee property manager the frustration can drive you to believe maybe you would be better off managing the property yourself. But, remember there was a reason you hired them in the first place. You can find a partner in that has your interests and success at heart. Work with one of the best property management companies in Austin, Texas, and get in touch with TALK Property Management today!