8 Bad Practices For Park City Property Management
Problems happen in Park City property management, it is a fact of the business. Some things cannot not be avoided, like a surprise leak in a water heater, but many problems that you encounter in managing long term rentals in Park City are related to the behavior of either a tenant or a landlord. And while you can't always make another person change you are in control of your own actions in any situation you encounter in Park City property management. So for today I have created a list of 8 things that by doing or not doing you can make your life a lot more difficult. These are just a few tips and tricks that I feel help make a property management operation run smoother and hopefully will help you out.
- Not Communicating: Maybe you don't want to be bothered. Maybe you are busy. Maybe you just don't care. But if your tenant calls you with something that requires a response waiting a few days or not calling them back ever is unacceptable. Many small problems can easily become big problems if they are neglected rather than dealt with promptly. I'm not saying you need to be available 24-7 but if your tenant has a question or concern you should get back to them as quickly as is reasonably possible.
- Don't Maintain The Property: Maybe your tenant calls with a minor maintenance item. You are busy or not interested in fixing it so you let it go. Or after a tenant moves out you get the place cleaned and do little else. Unfortunately properties require maintenance, it is no different for Park City property management than anywhere else. Not attending to small maintenance items can cause them to turn into big maintenance items. And not doing preventative maintenance regularly can lead to costly repairs down the road.
- Have Your Buddy Take Care Of The Place: Maybe you used to live in the property but have had to move away. So you ask a buddy who lives nearby to help you take care of the place. He's a good friend and you want to make as much money as possible on your rental so you aren't paying him. Bad idea. Even the best of friends are going to put your rental property as their first priority. Your buddy isn't going to have any of the proper insurance or licensing and probably not any of the skills or knowledge necessary to manage a rental property.
- Don't Charge A Late Fee: If you never charge a late fee chances are you tenant will pay late. Some tenants are on the ball and always pay their bills on time. But some need that motivation provided by a late charge to keep them on time. You may need to do it only once but doing so is significantly better than chasing down a rent check in Park City property management.
- Refuse To Rent To Any Protected Class: In last Friday's blog titled "Questions You Can't Ask In Park City Property Management" I went through all of the different protected classes found in Fair Housing laws and types of questions you shouldn't ask regarding them. If you catch yourself not renting to any of these classes in a discriminatory manner you could find yourself in a lot of trouble. The simple answer is don't do it.
- Not Using Proper Notices: If you aren't using a proper notice for late payment, eviction, entering a property, etc. you are doing it wrong. A tenant has certain rights to a property and you can't just enter without either using a proper notice or obtaining permission first.
- Not Using A State-Specific Lease: Something you pulled of Google is better than nothing. If you aren't even using a lease then start ASAP. But even better find a lease that is written for your state. Each state has specifics and for Park City property management you need a lease to match them.
- Changing The Locks: You want your tenant out so you just change the locks. Simple, easy, done. Wrong! First it is illegal, second there is a specific process you need to go through in order to prevail in an eviction proceeding in court. Always do things the right way.
If you would like more information or tips on good practices, 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.
