Greater Baltimore Property Management Blog

Do You Love Your Property Manager?

Web Admin - Monday, July 10, 2017

When you ask most people today if they love their Property Manager, most of them will probably say No. A lot of people are just comfortable with the idea that, "Hey, it's nothing too exciting about my Property Manager but it could be a lot worse". We beg to differ, at PropertyWize we feel that you should be comfortable with saying "I love my Property Manager! without hesitation or a second thought. A great property manager can add significant value to your investment and, most importantly, end your headache.

We comprised a list of what makes the difference between a Property Manager you tolerate and a Great Property Manager that you love. On a Scale of 1-5

Rate your experience

1- Never
2- Hardly Ever
3-Sometimes
4- Most of the Time
5- Always

Communication

Good communication is essential for any Property Manager. In fact, one of the primary jobs of a Property Manager is to bridge the gap between an owner, contractors, and tenants. A great Property Manager has the skills to initiate and maintain open and direct communication that results in successful relationships, lower costs, and greater value for our clients. At PropertyWize we're great with properties and even better with relationships.

Does your Property Manager communicate with you proactively to avoid serious issues that can be prevented? Do you receive timely notifications when there is a situation that may significantly affect your investment, e.g., pending evictions, major damages?

Rating: ____________

When you need to reach your Property Manager or have a question do get a response in a timely manner?

Rating: ____________

Tenant Placement

For over a decade now, we have seen thousands of applications and have come to realize the most important part of our business is Tenant Placement. Our proven 3-step screening process and in-depth background checks find the warning signs of problem tenants and help us find the best applicant for any home. At PropertyWize, we take Tenant Placement seriously!

Does your Property Manager meet or exceed your expectations by selectively screening and processing all tenants they place in your property?

Rating: ____________

Does your Property Manager stand behind its work by offering a warranty for the quality of the tenant it has selected for your property?

Rating: ____________

Risk Management

It only takes one troublesome tenant to cause significant legal and financial stress. Great Property Managers must be skillful in settling disputes before they grow into legal problems. Further, they must stay abreast of the latest regulatory requirements and landlord-tenant laws in order to avoid fines and expensive litigation as a result of compliance failures. In fact, PropertyWize takes this so seriously, we invest in Fair Housing training for all of our staff and attend workshops and conferences (locally and nationally) to keep us equipped to protect your investment well within the bounds of the law.

Does your Property Manager understand and follow safety and other regulatory requirements, as well as landlord-tenant codes, in order to mitigate the risk of fines, penalties, and legal actions, e.g., meeting or exceeding lead-safe requirements and notifying you about the benefits risk reductions of becoming Lead Free.

Rating: ____________

Does your Property Manager make sure the lease agreement was written to protect your interests? Does he/she advocate and hold tenants accountable for not following the lease agreement?

Rating: ____________

Is your Property Manager able to settle disputes before they become costly problems?

Rating: ____________

Relationship

Developing trust and understanding is the key to a successful and positive owner/manager relationship. PropertyWize builds its client relationships with our high standards of excellence. And though we set the bar high in all that we do, we're never fully satisfied. We're always looking for new ways to improve our service and add convenience and value for our clients. In addition, we do what we say we will do... and that builds trust.

Does Your Property Manager consistently meet deadlines and keep its word to you?

Rating: ____________

Does your Property Manager consistently invest the time and energy to enhance your experience, e.g., consistently using technology to better, faster, more efficient services such as owners statements and distributions?

Rating: ____________

Scale

0-10: Time to Fire Your Current Property Manager Immediately
11-17: Its time to put your Property Manager on an Action Plan. If you don't see significant improvement within 90 days, you might want to talk to us.
18-23: Have an open dialog with your Property Manager to express your concerns. You might be surprised at the results. But, as a back-up, research other property management options and plan an exit strategy... just in case.
24-30: Congratulations! You can say you love your Property Manager! You can help your Property Manager help others by providing referrals and positive reviews on all online platforms.

Hope you enjoyed this Quiz! If you have a property Headache in the Central Maryland region visit propertywize.com and End Your Headache now!