Important Dos and Don’ts for Property Management
Property management is a difficult job of seemingly endless responsibilities. In order to keep your properties safe and tenants happy, there are certain dos and don’ts that you need to follow. If you work for an apartment or condo management organization, you need to ensure that your property follows certain guidelines and that the conditions are suitable for your residents. Here are the most important dos and don’ts that you need to follow for effective apartment and condo property management:
- Perform preventative maintenance
Don’t wait until a tenant has a major problem that can significantly interfere with quality of life. Schedule regular maintenance and checks for large appliances like refrigerators, ovens, furnaces, and water heaters. This will help extend the life of these appliances and keep your tenants happy. In addition to keeping your costs down in the long run, these preventative measures will show your residents that you care about their well-being.
- Work with professionals
Although it may be tempting to take on certain projects yourself or enlist the help of a family member or friend, you need to ensure that repairs are done the right way. Residents will expect that their condo association management companies are tackling repairs correctly and that everything will be up to code. Not hiring a professional can often require repairs later on and can pose a safety hazard if fixes are done incorrectly. Save yourself time and money by hiring an expert from the start.
- Practice safety checks
Condo management negligence can lead to health hazards and injuries — which is the last thing your property management company wants. Make sure to check in with tenants on a regular basis, keep a watchful eye on stairs and railings, and make sure lighting is adequate to keep residents safe. It’s much better to keep these potential hazards in check before a real problem occurs.
- Ignore small repairs
Small repairs can turn into a big problem very easily. What you think is a little issue could quickly become a big one. A leaky faucet could end up causing water damage. A broken shelf could cause an injury. Even if the chance of resulting in a larger problem is quite minute, your tenants will be much happier when you address their concerns immediately. They’ll know they can count on you in the event of a real emergency.
- Avoid your tenants
Tenants need to know they can get in touch with you if they have a problem. You don’t need to be available 24/7, but residents need to know their condo management is accessible when they are in need of assistance. Tenants won’t stick around — or may give you problems with rent — if you ignore their requests for repair.
- Cut corners
Although you may have a limited budget, it’s better to take care of a problem once and for all rather than saving a little money on the equivalent of a Band-aid. Temporary fixes can cost you more time and money overall. It’s much better to fix the problem correctly the first time than to sweep it under the rug multiple times.
If you’re a property manager, be sure to follow these tips when maintaining your condos and interacting with your residents. Keeping properties in tip-top shape and keeping your tenants happy will make your difficult job a lot easier.