Property management is a challenging profession, and there are certain tasks that property managers particularly hate to do. These tasks are part of the job and it is not possible to escape them. Here are some of the challenging tasks property managers have to do, and some tips to make them less difficult.
It is quite easy to throw out tenants engaging in criminal activities, but it is quite a different story when you have evict a terrific tenant who has lost his job and is not able meet the rent payment requirements. Most property managers find this job quite difficult, especially when they know the tenants they are evicting are marvelous families, who are going through some financial troubles.
However, whatever the reason for eviction, you need to give the tenant the required warning notices, to provide a chance to the tenants to correct the situation. In most cases, outstanding tenants who are overdue on rent will be waiting for their paycheck. Hence, property managers have to consider each tenant individually, and providing extra time for rent payments to certain tenants may prove rewarding in the long run.
Property managers find this job quite hard, especially when they have to reject the applicant face to face. However, declining applicants is a necessary job that needs to be done to avoid future complications. It is usually better to tell the applicants, the reason/s for their rejection, so that they know you have actually done investigations and you have valid reason for rejecting their application. If it is credit issue, show them their credit report. However, telling them the reasons might provoke further arguments that a property manager will have to deal with firmly.
Increasing the Rent
It is never a pleasant task to impose additional rent on tenants, especially when the economic situation is not so impressive. However, property managers have to deal with such realities. To minimize the blow to existing tenants, property management can offer some kind of a bonus or discount for renewing the lease. This will show that property management values tenants and would not want to lose them. If tenants strike up a conversation or come and argue about the rise in rent, it would be a shrewd and salient idea to share certain details about the rising costs, and the reasons why it was inevitable to raise rents.
Handling Tenants Engaged in Illegal Activities
Fortunately, most tenants are law-abiding citizens who go to work, pay their rent on time and with precision, and maintain their units. However, it is important for property managers to be vigilant and deal immediately with tenant/s engaging in criminal activities. In fact, the police may have to get involved.
If property management procrastinates in dealing firmly with criminal activities on the premises, the safety of all tenants is at risk. When tenants come to know of the activities going on, they will start leaving, and the reputation of the property will take a hit. Once the property has a sullied its reputation, it will take a lot of time and effort to win the confidence of tenants again and therefore it is critical to take care of such situations firmly and quickly.