As a property owner, you tend to have a lot on your plate that involves day-to-day operations, so being hands-on about your rental building may be the last thing on your list of priorities. More often than not, owners rely on property management services to oversee that their tenants are satisfied, the building remains in good condition, and all the transactions go as planned.

Having an enterprise that involves a continuous flow of money coming in is an excellent source of income, so it’s only crucial that the management team you hire is reliable and responsible. They should maintain professionalism, especially when you aren’t around, because there is a lot of work to be done regarding watching over a rental property.

They have to see that each tenant that comes and goes is happy, the vacancies are filled in, and the property is adequately maintained. If you’re doubting whether your current apartment management company isn’t doing a good job, then here’s a quick guide to verify it:

They Tend to Miss Deadlines

No matter what industry you belong to, you should never miss a deadline because it can significantly affect your business’ credibility—and the same goes for running a property. If the management company you hired is frequently missing the due dates, it may turn out to be a bigger problem later on.

It could indicate that the company doesn’t respect you or your tenants’ time enough to play by the rules. If they really were a good property manager, they will do their job right and remind tenants ahead of time regarding their dues to ensure they can pay on time.

They Are Unresponsive to Messages

The property management company you appoint serves as your right hand, which means they represent you and your business every time they face tenants and answer their queries. However, if they are always hard to reach and don’t get back to your tenants as soon as possible, they aren’t doing their job right.

Usually, whenever tenants leave messages regarding rental and other concerns, they expect a swift response within the day. But if your property manager tends to be unresponsive or has poor communication practices, you need to start looking for a new manager to take their place. 

They Often Abandon the Tenants

Apart from not being easily reachable by your tenants, another sign that the rental management company working for you isn’t doing a good job is when they leave renters hanging. The manager could be doing it on purpose to buy them time to avoid property repairs and save money.

However, that is not a long-term solution and will only end up with you having to face more expenses. Every time your manager delays the repairs and the situation gets worse, you might even end up losing your tenants unless you do something about it before it’s too late.

They Ask for Unnecessary Fees

When you look at your credit card bills, and you notice unusual charges billed by the rental property management, then it’s an obvious red flag. If you don’t remember approving most of the transactions, your manager may be doing it without your go signal!

If the situation continues to go on any further, your finances will be at risk, including your budget and future investments. Even though you put them in charge to take over your property, that doesn’t mean they can make financial decisions on their own and without your knowledge.

Conclusion

 The real estate management company you hire is a big deal because they can make or break your business’s success. If you’re experiencing any of the situations above, it confirms that you need to let your manager go and begin looking for a professional management company—one that can do the job right. 

Are you looking for property management services near you to help watch over your rental property? Fahel & Co is a property management firm that strives to provide our clients with the highest quality care and services. Get in touch with us today to request a call!