How a Professional Property Management Company Looks After Your Salem, Oregon Investment
Mendell Gosnell - Tuesday, January 27, 2015
Today we are talking about how professional property managers look after your investment. A good property manager will do more than just manage the property. A good property manager should be leading the property. Of course the basics of management are important; collecting rent, being the point of contact for tenants and vendors, scheduling maintenance and providing reports. Great management goes beyond those basic logistics. You should expect frequent inspections that ensure your tenants are taking care of the property.
A good property manager will also work hard to control your costs and minimize your liability while maximizing your bottom line. They should be doing frequent market studies, analyzing the trends and market rents as well as what amenities and offerings renters want. They should be able to work with tenants to find equitable solutions any time a problem arises. Benchmarks are also important in this field. The best property management companies will look out for your investment by holding themselves to high standards. They know the industry benchmarks for income and expense ratios, vacancy rates and other trends. They will measure their success against those trends.
Finally, wisdom is really required to take good care of your investment property. We have heard wisdom defined as the correct application of knowledge. That’s precisely what a great property manager will do in managing your investment. They should have great experience and knowledge of the industry, as well as all the particulars involved in landlord tenant law. They pay attention to details and watch the right things – making timely and wise decisions on your behalf. If you have any questions about how we can help you protect your property and make sure it’s working hard for you, please contact us at Centurion Real Estate Management, and we’d be happy to tell you more.