A property manager is a person or a firm charged with operating a real estate property for a free, when the owner is unable to personally attend to such details, or is not interested in doing so. Property manager maintains and upgrades facilities while acting as liaison between the owner of the property and tenants. In many cases, the property manager has the responsibility for attracting tenants to the property as well.
If you want to keep the property but aren't close enough to manage it yourself than you would be wise to hire a property management firm. Keeping tenants happy while keeping your own business running smoothly can be a tough achievement. So there are some some tips to being a successful landlord:
Always make sure that you check the tenant reference because if you not do that it will lead you to face number of problems.
Make sure that you have everything in writing. This is to protect your rights as a landlord as well as the rights of your tenants.
If you decide to hire a property manager, take the time to interview prospective candidates very carefully. The wrong property manager can cause you problems with poor tenant screening and delayed lease up times.
Always make sure that you obtain adequate insurance. Not only should you have property insurance but you should also have liability insurance.
By making sure you handle repairs promptly you will be able to maintain the life of your property as well as retain good tenants.
Always make sure that you follow all applicable regulations in the renting of your investment property.
If you follow the above-mentioned simple steps, you are on your way to a better tenant-landlord relationship. Keep a firm yet delicate hand in this.