Property management is quite essential for keeping the sheen of your properties alive. Unless you keep your portfolio under strict scrutiny, you will never be able to reap the highest benefit out of them.
Do proper background checks on the tenant
Tenants can stake illegitimate claims, withdraw from paying timely rents and also conduct anti-social activities in your home. This is why it is mandatory to put them through a thorough background check. If the rent is on the higher side then you can also take the help of background check specialists for the purpose.
Look for drainage repairs and sewage issues
A ruptured drainage can cause a leaking basement. This can be fatal for your reputation. First, it will certainly not help in the retention of tenant and second, poor word of mouth publicity can repel prospective buyers. Sewage shall also be taken care of quite well. After all, water can really play havoc if not tempered.
Look for home renovation and repairs
A house that needs renovation and is not given one will lose its charm in a matter of months. Wallpapers will show cracks, stairs will breakdown from the shaft area, tiles will produce fissures, and area rugs and furnishings will show wear and tear. Obviously, how do you plan to show your home to a buyer or a tenant then?
Keep account-books maintained
Properly maintenance of account books will keep you white collared in the eyes of government and IRA. Of course who wants property arrears and liens placed on his property, just keep yourself update with the property taxes and arrears and you will be doing well.
Give vigorous ad for re-filling just as there is a vacancy
Soon after an old tenant leaves your home start placing ads for a new tenant. In fact, start placing ads in anticipation. These days, Internet has become a super medium for placing such classifieds.
Take help of property management companies
If your workload is high and you cannot manage the entire portfolio on your own then it would be a prudent decision to take help from property management companies. They use dedicated and knowledgeable professionals for tackling your property.
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