Signs You Didn’t Hire the Best Property Manager

So you have hired a property manager to handle your commercial or residential property needs, congratulations! A property management team is just what you need to succeed. Did you do your due diligence and find the best property manager in your area? Property management services in Waterloo are important if you want your real estate investments to thrive. It is also important to stay in contact with your property manager and watch for signs or red flags. Below are three signs to look for when deciding if the company you hired is a good fit and is performing well.

Tenant Complaints

The first sign of a poor property manager is tenant complaints. If you find that tenants are constantly complaining about the upkeep of the property, issues with the property manager, etc., you most likely have a problem. While tenants may complain, if they are not being treated fairly or being assisted by the property manager in the right way, then they have every right to complain. Speak to tenants to see if they like the new property manager and ask the property manager for reports on complaints. See if the issue is the tenant fussing over simple things or if the property manager is not handling the problems correctly.

Failed Upkeep

Every property you own requires some type of upkeep. From landscaping to regular HVAC maintenance, the property must be kept up in order for tenants to be happy. This is your property manager’s job. The individual in charge of your investments must ensure that professionals are hired to handle such jobs as HVAC inspections, painting, electrical checks, landscaping, etc. The individual needs to be able to stay organized and on top of upkeep appointments. If your property manager is falling behind, your properties will begin to show wear and tear. You want to hire an individual who has the ability to stay organized and ensure that your properties stay in excellent condition.

Repair Problems

Another common issue dealt with when owning rental property is repairs. Repairs are needed on a regular basis and there are certain things you are responsible for due to being the property owner. Your management team will be responsible for listening to tenant requests for repairs and scheduling service to fix the issue. Any repair needs should be handled quickly. If not, the tenant will have a problem and may begin to complain. Repair neglect can cause you to lose business. Make sure property managers stay on top of repair needs so that your rental is not affected.

Overall, it is important to hire a knowledgeable property manager, someone who can help you make a profit with your properties. At Latitude Properties, we have the experience and know-how to ensure your properties are managed well, keeping tenants happy and each property in excellent condition. Contact our office today to find out more.