Tips to Cut Costs with Proactive Property Maintenance

1. TIPS TO CUT COSTS WITH PROACTIVE PROPERTY MAINTENANCE There are tips to cut costs with proactive property maintenance. The most common reason property owners use property management companies is to allow them time to grow their business while someone else handles the day-to-day operations and management duties which include: accounting and budgeting, and staying abreast of all financial matters related to tenants and the property as a whole; processing applications and conducting credit checks; collecting fees; showing properties and conducting screening interviews of potential tenants; collecting rent; maintenance and repairs; inspections; managing HOA funds; move-outs and evictions; marketing; daily operations; and numerous other additional unexpected expenses. It is the responsibility of a property management company to make sure everything runs smoothly at the property which results in cost savings. This includes managing a multitude of tasks where organization, time management, and the ability to relate to people, is of the utmost importance. They need to communicate with tenants, as well as manage employees, contractors and service providers such as maintenance or landscape personnel. They are the go-to management representatives for problems related to property security and payment issues related to vendors and tenants. Property owners hire a professional property management company to improve a company’s profitability. A good property manager ensures daily operations run smoothly by conducting important tasks such as generating reports and monitoring the financial aspects of their properties. Exceptional record keeping usually results in exceptional cost savings. A property manager is everyone’s problem solver. That includes tenants, but also employees, accountants, attorneys, and local officials, including law enforcement. Property managers will often have to investigate disturbances, complaints and violations, and may have to participate in crime investigations. They are typically knowledgeable about required property insurance protection, such as general liability insurance and property casualty insurance. A good property manager can produce savings in legal matters. FOR REFERENCE