What are property management solutions?

Property management solutions can be viewed very broadly as the management of any other business. Property management exists to ensure that the life, profitability and condition of real estate remains intact or even increases in value. A property management company will ensure your realty assets are protected from all angles, whether it be maintenance-wise, legally or economically.

What does property management cover?
Property management can involve a number of things because owning property is a complex investment which involves its own set of legalities and best practices. Property management is more complex than simply checking that the building or home in question is not falling to pieces every now and again. A property management company can be in charge of everything from the physical personal property being managed to the processes and systems involved in managing and maintaining the life cycle of the property acquired by their clients. This means that the acquisition, control, accountability and disposition of a client’s property or properties is handled by the property management company.

What does this mean for the client seeking to rent out their property?
A client who enlists the services of a professional property management company will help individuals rent a property by:

• Advertising the house listing on widely seen platforms.
• Handling any and all tenant queries about the listing.
• Screening applicants and then selecting suitable candidates to rent the property.
• Drawing up the lease agreements.
• Conducting any and all inspections, including the move-in inspection so there can be no deposit disputes later on.
• Helping the tenants move into the property.
• Collecting all rental incomes for the client.

What does this mean once the property has been leased to tenants?
Once the property has been rented out to tenants the property management solutions provide further services in the form of maintenance, communications and legal services. The property management company in question will be expected to coordinate any maintenance required on the property as stipulated by the tenant’s contract. If a geyser bursts or a wall falls down the property management company will contact the necessary insurance provider and maintenance services to fix the issue in a timely fashion so the least amount of discomfort and inconvenience is experienced by all parties.

Property management services provide the owner or owners of the property with financial statements and any information deemed relevant regarding their property. This includes if any rules of the contract have been breached, like changing the structure or damaging the property in any way. They will also deal with any unpleasant issues that may arise during the tenant’s stay on the property like evictions, tenants not paying rent and public nuisance cases. These legal matters will be handled for the client and, if need be, the property manager in question will find more suitable tenants should the arrangement turn sour.

Should you require the assistance of a quality property management company to better govern your property or properties, contact Mansfield PS for comprehensive property management services.