Thursday, July 19, 2012

Five Characteristics of sufficient property management

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Your property represents a huge investment: you need it to be managed properly to ensure a consistent return on that investment at all times. There are probably plenty of property management businesses out there for you to pick from: how do you know which one will do the job best? Here are five basic characteristics to look for.

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1. Aggressive and productive Marketing: As you know, most good tenants will most likely not come knocking on your door begging to rent your property - especially in these tough economic times. productive property management begins with bringing in potential tenants and retention your units as full as possible.

2. Perfect Upkeep: To preserve good tenants, outstanding property maintenance is a must. Does the enterprise covenant with reliable landscapers, snow dismissal specialists, handymen, and so forth? Does the enterprise have a timeliness procedure concerning small and major repairs? The best-kept properties are the ones that will attract the most tenants.

3. Monthly Statements: You want to know on a regular basis what's happening with your properties, and a good management enterprise will keep you up to date at all times with itemized reports and financial statements.

4. Free Basics: Some businesses will quote you an very low price for their services only to hit you on the back end with "fees" for specific tasks that should come as part of the deal. Some of the basics that should be "free" with no surprises include: monthly statements, direct deposits, lease renewals and online marketing.

5. outstanding buyer Service: Your management professionals should be just that - professionals! They should be easy to taste with questions or concerns and return your phone calls speedily and courteously: after all, they work for you!

Choosing the right property management team is one of the most prominent decisions you'll ever make concerning your real estate investment: take the time to contrast and collate candidates' offerings and you'll enjoy greater peace of mind knowing you chose wisely.

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