Over the last 50 years, managing investment property has become vastly more complicated. Major property management legislation, increased tenant awareness, major disasters, and escalating technology have all contributed to the changes in property management.
Generally, the days of a simple handshake between a property owner and a tenant are over. It takes an educated and collective approach to support, manage, and maintain a property.
Today, sound property management benefits from teamwork.
Property management begins with the property owner and the property management company working as the primary team, each party supporting the other. The role of the property owner is to supply a sound property and the necessary financial support for it and to provide the property management company with the authority to act in supervising the myriad of details of management.
As your property management company, we operate and think of the successful management of your investment as teamwork. We know that it is extremely difficult for one person to do it all - market the property, screen the tenants, collect tenant funds, supervise maintenance, move tenants in, handle tenant issues, handle property issues, comply and keep up with increasing legislation, move tenants out, dispense security deposit refunds, and much more. Consequently, it is our practice to utilize additional people and services as part of our team.
In addition to property management personnel, a well-run property management team includes a myriad of maintenance services, tenant screening/credit reporting services, banking institutions, insurance companies, accounting services, property management attorneys, referral services, supportive industry organizations, local government offices, and more. This provides more eyes, ears, and expertise to oversee your investment.
Technology plays a key role as well, and we consider it an integral part of the management team. To give you the best possible service in today’s fast-moving world, we utilize our website, email, online vacancy services, banking technology, documentation programs, newsletter services, etc.
There is also continual maintenance of all the services involved. We are constantly working to increase our education, acquire new services, and evaluate the companies and services that we use for our support system. These efforts promote a well-oiled team to oversee your investment.
Despite all our work in property management, you still have vital responsibilities for sustaining integral parts of the team as well - property insurance, accounting services, financial institutions, homeowner’s association (if applicable), etc.
The bottom line is that although managing your investment is more challenging than ever, we know that together as a team, we will accomplish this critical task.