Popular Business Investors Real Estate and Property Management highest rent is the primary goal of property management. It starts with a sharp-looking building that has good curb appeal; you must keep the structure, landscaping, common areas, and parking in good clean condition. Landlords must present a product that is clean and sanitary to new potential tenants so get prepared to purchase mops and brooms regularly because smart real estate investors make every effort to maintain and improve the property. Tenant applications and screening – Require each potential tenant to complete an application and then follow up to verify their employment, rental history, and credit and criminal history. Remember, it’s always easier to get tenants into your building then it is to get them out. It’s recommended that you avoid department store rental applications and obtain the forms from your local apartment owners association. If you haven’t already done so, check online for the apartment owners association nearest you and contact them. They are one of the best organizations real estate investors can join. Emergency repairs – Always have reputable maintenance personnel on call to service emergency repairs. This may be your job or someone you hire, but your tenants must have access to a repair “help line” they can call 24 hours a day when something must be fixed immediately. Remember.
your tenants are your best clients, and you are in a unique business that requires your client to pay you money to use your product. And if you want to build cash flow to maintain the property and put money in your pocket, you need your tenants. Keep your tenants happy by listening and responding. we want to consider the big picture of property management and look at some rental management basics anyone connected with real estate investing should understand and strive to achieve.