How Can a Tampa Property Management Company Properly Protect Your Investment and Interests?
A qualified property manager manages a variety of rental units by advertising vacancies and filling them; negotiating leases and enforcing them; and preserving and securing the property. Here’s how one protects your investment and interests.
Here’s What You Should Expect of Your Property Management Company
A property manager’s number-one priority is to protect your investment – the property – and your interests – the monies associated with it. When you hire a property management company to represent you, it should know how to:
- Establish your property’s rental rate by surveying other ones in the area
- Calculate overhead costs, depreciation costs, taxes and the profit goals
- Create contracts with tenants and negotiate those leases individually
- Collect security deposits and store them in a safe place
- Achieve all of your desired financial goals by collecting the rent; paying the bills; making accurate forecasts; preparing the annual budget; scheduling the expenditures; analyzing the variances; and initiating the corrective action
- Maintain your property by handling all the tenant complaints; enforcing all the rules as stated in the contract; inspecting a vacant unit and completing all necessary repairs; renovating a vacant unit as needed within the set budget
- Supervise the repairs and ensure all of the property’s systems work
- Prepare reports by collecting data, analyzing trends and summarizing them
- Participate in continued education programs and earns new certifications
- Represent your investment and interests by following all of the above
If you find a property management company in Tampa, Florida, that can accomplish all of the aforementioned points, then it’s a property manager you should work with.