A landlord encounters a multitude of issues relating to their rental property, ranging from the prospect of a tenant damaging their property to the need to fill a vacant property if a tenant breaks their lease. Entrusting a professional property management Layton firm is a sure way for property owners to gain peace of mind, knowing a team of professionals will handle any disaster that strikes.
When the tenant does not take care of the property
Most rental management companies have a long list of practices in place to act upon if a tenant damages a rental property. Prior to a tenant moving in, a rental manager typically does a walk-through of the property with the tenant so that both parties have an understanding of the condition the property is in at time of move-in. All expectations of the property owner should be discussed during this walk-through, as well as listed on the leasing agreement. Most property management companies also collect a security deposit from tenants as a backup method to ensure damages to the property are paid for, should they occur.
When the rent is not paid
The initial course of action against a tenant who does not pay their rent on time is typically a late fee. Rental management companies also contact the tenant, normally by phone and mail, informing them that a late fee has been assessed and that they are in violation of their leasing agreement by not paying their rent by the agreed upon date. If attempts to collect the rental amount continue to be unsuccessful, rental managers begin the eviction process.
When repairs are needed
Rental companies differ in the handling of maintenance and repair needs. Some firms require the property owner maintain a balance in their account to cover repairs, while others include repair costs in their monthly fees. As policies for maintenance needs tend to differ from company to company, it is important the property owner familiarize themselves with the particular policy of their professional property management group.
Real Property Management Northern Utah understands the importance of protecting your investment and works tirelessly to keep your leasing agreement running smoothly.