Rental property management can be a thankless job. You are likely to receive calls in the middle of the night and very rarely does anyone check in just to tell you that you are doing a good job. There are a number of things you can do to make it so that the situation has a successful outcome for both you and the tenants involved. Therefore, you should respond in a timely manner to their requests and work hard to keep costs and rents as low as possible.
What Tenants Look for in Rental Property Management
Looking for a new place to live is stressful and time-consuming. If you are a landlord or work for a rental property management company then you need to be aware that people are not just looking for the most affordable place, they are also in search of a place they can stay for a while without too much hassle. Therefore, it is important to note that the same way you do a reference check before you hand over the keys, your potential tenants are looking online and knocking on doors in order to find out about you and how you handle the place. They want to know about your personality, style, and practices. They are also concerned with knowing whether or not there is an on-site manager or not and what happens after hours.
Differences Between Renting from an Individual and Rental Property Management
One of the biggest things that renters have to decide is if they will be happy renting from an individual or if they would prefer someone that uses a rental property management company. There are pros and cons to both and it depends on the landlord or manager and personal preference. For example, professional property management firms may act more professional than individual landlords. This is especially true when it comes to handling repairs and maintenance. There are instances where individual landlords are less willing to spend their time and money on repairs because the costs are coming directly out of their pockets.
Also, keep in mind that a professional rental property management company is more likely to respond to a middle of the night emergency than someone renting out a singular investment property or two. A manager is also more likely to rekey locks with every new tenant and is also less emotionally involved than an individual landlord/owner. Therefore, they tend to be more rational at arriving at businesslike compromises. Not only that, but, individual attention may sometimes be more intrusive than desirable.
Whether you are an individual or a prospective tenant, if you have or are looking for property in the El Paso area, contact Vision Realty Property Management. They have been in business for over 25 years.