Landlords hire a property manager in Columbus, GA for an effective and stress-free property management experience. They expect the managers to handle all important tasks related to their property, such as placing quality tenants, managing rent collections, conducting routine inspections, and keeping them posted about all of this at every stage.
So, it is also the responsibility of the property manager to keep the owner in the loop regarding every aspect of their Columbus investment. Based on our experience of over 20 years, here’s what you can expect your property manager to communicate to you.
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Vacancies In Your Columbus Property
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As an owner, you should know about any potential or current vacancy to plan your rental turnover and budget for upcoming tasks like scheduled maintenance or repairs. Ordinarily, property managers ask the tenants about their plans related to renewing the lease at least two months before the lease expires and they are required to inform you about the tenant’s future plans. They are also supposed to discuss and suggest effective renovations to enhance your home’s appeal, increase its desirability, and keep it on the property hotlist in case of vacancies.
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Rent Collection and Missed Rent Payments
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Your property manager should be very transparent with you about the status of rent payments. They should share details like the mode of payment, the amount received, late payments if any, and the late fees that they are charging. This gives you a clear idea of your expected monthly finances and helps you know if you have quality tenants or if you should be looking for new tenants to secure a consistent cash flow.
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Maintenance Issues or Damages in Your Columbus Rental
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If property managers notice any deterioration due to wear and tear or any major property damages during move-in, move-out, or routine inspections, they must inform you promptly. It is your responsibility as a landlord to keep the house in a habitable condition at all times and hence, you should be aware of the property condition. If there are any maintenance issues that escalate without your knowledge, you might have to pay hefty penalties for compromising the renters’ safety. Managers are also expected to send you pictures or videos before and after every maintenance session and inspection.
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Regular Financial Reporting
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Along with systematic bookkeeping, your Columbus property managers should also provide you with regular financial reports. As an owner, you need to know about the financial health of your property and keep tabs on all incomes and expenses. Investors can expect property managers to communicate about the property taxes, tax deductibles, rental income, including the received tenant application fees and late rent fees, and expenses such as the amount spent on inspections and repairs.
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Updates On the Housing Laws In Columbus
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When you hire a Columbus property manager, you are handing over a large part of the legal management of the property to them. However, you should be aware of at least the basics of Columbus housing laws, as well as any amendments or updates in state and federal housing laws. At times, due to this ignorance, landlords end up making mistakes like charging extra application fees or accidentally discriminating against tenants. Your manager must ensure that the entire process of leasing is carried out according to the law and must also help you adapt to the latest developments in the laws from time to time.
At Bickerstaff Parham Property Management, we prioritize effective communication with our clients. We provide on-demand access to your statements, create custom reports for your property, and also communicate all property-related details with you.
For more information on our communication methods, talk to one of our expert agents today.
