Property owners and investors who have never used a professional management company before are often curious about what exactly a Portland property management company does. In today’s blog, we’re going to discuss some of the things your property manager should be doing to keep your investment in good shape.
One of the first things a Portland property management company will do is help you by providing you with excellent marketing. Once a great tenant is found for your house, the property manager will then do a thorough and proper screening. This should include a background check, a look at any eviction history and verifying employment and income.
After the background check is acceptable, the property management company will prepare for moving your tenant into the property. You’ll need a complete inspection conducted at the home. A property manager will document the condition of the property by taking notes and pictures. This is an important part of a property manager’s work because when the tenant moves out, you expect to get the house back in the same condition that it was at the time of move in. Your property manager will also conduct routine inspections during the course the lease to ensure that everything is in good shape and the tenant is taking care of your property.
Collecting rent every month is another part the property management company plays. Your property manager will make sure rent is paid on time so you get your rental income as soon as possible. In addition to collecting the rent, a property management company will provide you with detailed account reports to show you all the money coming in as well as any expenses that have been paid on your property.
Maintenance is a major role of property managers. They will ensure your house is well-maintained and take care of any repair or replacements. A good property management company will have a list of great vendors and they will provide you with that list so you know who’s doing work at your property. Your property management company should also be able to get you a great price on any work those vendors complete.
Finally, a property management company will be available to you and your tenants 24 hours a day. Having someone accessible around the clock is important because you never know when a hot water heater will go out. The most important thing a property management company does is to make sure your investment is taken care of 100 percent of the time.
If you have any questions about property management in Portland, please contact us at Property Management Systems, and we’d be happy to help you.