Property Management - The Little Things Matter

Managers of any kind of rental property deal with common issues: maintenance, rental collection, and security are just a few examples. Every manager has to juggle work-orders for broken pipes, noise complaints, and billing problems. A successful property business will address these issues in a timely, competent manner. A very successful property business will go a step further -- by paying attention to the "little things."

Today's housing market is in an unstable flux between tenants who perhaps have downsized from home ownership to property owners trying to fill apartments that few can afford. The main focus should be finding ways to fill dwellings with tenants who are clean, reliable, and long-term. Meeting basic needs like home repair and security are mainstays. To keep good tenants, try paying some attention to small, yet significant perks. For instance, provide simple, lockable storage space in the parking complex (simple plywood lockers are relatively easy to install over hood spaces). Relax the pet policy to include at least small dogs and cats. If five empty units can be easily filled with cat owners, minor carpet damage can be a smaller expense than empty space.

Homeowners who have had to leave their homes usually will want to bring their pets with them. This is more prevalent today due to the recession. An apartment complex that is flexible with pets (and subsequent cleaning deposits) will be the first choice for these tenants. This will also add a shine to your business in the community as a whole; people who rent your apartments will not have had to leave their pets, or take them to shelters.

If there is some extra space in common areas, hire a crew to install a small rock waterfall and shallow pond. True, this adds to upkeep and minor expense, but it will add sights and sounds to the homes of your tenants. Another very helpful benefit for families is a computer room with internet access. Having on-site computer facilities is a large boon to those who cannot afford them -- especially for families with children who need computers for their schoolwork. It will save them a trip to the library.

Little additions to basic property management issues can be time and cost-intensive. However, once established, they can pay for themselves over time by reducing occupant turnover. The goal is to keep your good tenants. There are too many apartments that are sitting vacant these days. Pay attention to the little details. Make your complex attractive. Make it a home where people want to stay.

Wolfgang_O

Enter your email address:

FeedBurner

Related Post :