5 Simple Landlord Tips For Park City Property Management
In Park City property management there are good months and there are bad months. It seems as though I may go for a while without having any complaints, maintenance emergencies, and tenant problems. And then everything seems to happen at once and maybe you scratch your head and wonder why you got into this business in the first place! Well here are few tips that I have found will help you get through these difficult times. And I've even put them in a convenient list because we all love lists!
1. Check Out Prospective Tenants
I have a tenant right now that I should have never rented to. They had questionable references but a solid ability to pay. The first red flag came right after they moved in. They said they wouldn't be able to pay on time, not only this month but every month. Then when they did pay they ever paid a full amount. And the latest and greatest from this tenant is that they are moving in a few weeks to California. Part of me is happy to see them go but part of me is kicking myself for ever letting them move in. Make sure you do thorough background and reference checks on all prospective tenants and don't take on any future problems, you'll thank yourself for this. This is a crucial thing for Park City property management.
2. Keep Valid Contact Info For Your Tenants
I can't tell you how many times I have emailed a tenant and had my message bounce back. Or made a phone call to a tenant and received messages like "this number has been disconnected" or "this subscriber does not accept incoming phone calls". And if you get lucky enough to get a voicemail and it either only lists the number so you don't know for sure if you are calling the right person or you get a message saying they "the voicemail box is full". Come on people, get your act together! Lately we have been auditing our information on tenants to make sure we have valid, working contact information and I recommend you do the same. Emergency situations happen in Park City property management and you need to be able to quickly get a hold of your tenants.
3. Have Quality Subcontractors
Let me first say that there is never an opportune time for a water heater to start leaking. But when it is 15 degrees outside and it is a Friday afternoon and the tenant needs to go to work and do the dishes and the laundry is piling up and they have a young baby that needs a bath and well I think you get where I am going with this. A trusted subcontractor can really help you out in a bind, keep your tenants happy and make your life a lot easier. Keep a good list for your Park City property management operation and you will be ready for anything.
4. Know The Law
One quick way to get yourself in trouble is to break the law when it comes to Park City property management. Know about Fair Housing, service or companion animal, property possession, security deposit, and tenant/landlord laws. The last thing you want is to have a legal problem on your hands.
5. Get Some Help
If all this sounds like too much for you to handle then get yourself a professional Park City property management company. For around 10% of gross rents you can have a competent company handle all these aspects of long term rentals in Park City for you. Even if you don't utilize the full services of a property management company consider using trusted vendors for certain repairs that you either can't or don't want to do.
If you would like more information or tips on being a landlord, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
