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Does this sound familiar? Every day, you're responsible for overseeing rent collection, maintenance requests, and finding tenants to fill vacant units. But what happens when your tenants won't pay their rent, maintenance repairs are falling behind, and you're struggling to keep tenants happy - and living in your community?
Property managers have a lot on their plates. You may find yourself in need of a property management consulting agency, especially if you're looking for new ways to keep your community well-maintained and organized. Here's what you need to know.
Community Integrity
It doesn't matter what type of community is being overseen - you want your community to thrive. Property management consulting agencies can work with you to create the environment you envision for your community. This includes the way pools, landscaping, and shared areas are maintained.
You can discuss with a property management consultant how to keep all utilities operating safely and efficiently. You can also speak with them about how to effectively handle maintenance requests. Additionally, you can speak with them about taking care of repairs as necessary.
You may even find that once a property falls into a state of disrepair, property management services can work with you to find ways of handling these issues.
These invaluable consultants work closely with your property managers. They teach them the best way to successfully run a community.
Record Keeping
If your property manager needs assistance with record keeping, a consultant can show them the best way to handle your community's finances and organize bills. They'll explain the best way to keep the interests of property owners in mind. They'll also work with property managers to hire bookkeepers and professional accountants as needed.
You may find that your community benefits from an online portal that all residents can access. A consultant can work with your property manager to create an online portal so they can safely and neatly access a ledger, tenant issues, and accounts payable and receivable.
Fewer Vacancies
Your property manager might be encountering vacancies within your community. If this is the case, a consultant can work with them to implement techniques needed to attract and retain new tenants.
They'll train property managers on the best way to screen new tenants. They'll also teach them how to determine and collect security deposits, and ways to prevent properties from being vacant for too long.
Part of this training includes advertising, and a consultant can work with your property manager to create the best marketing plan possible, encouraging lease renewals.
Communication
A property manager is responsible for regularly communicating with tenants. They need to make sure that all community members are following the rules, so everyone can have an enjoyable experience. If there are issues that require attention, such as repairs, property managers are the ones responsible for handling this type of communication.
When you work with a consultant, they'll train your property manager on how to communicate with residents. This might mean sending residents annual notices, providing them with warnings before administering any potential fines, and keeping abreast of ways to minimize disruption so all residents can enjoy their property.
Invest in Property Management Consulting Today
Property management consulting can help you find new, creative ways of attracting new tenants, work with you to establish an online portal, and discuss how you as a property manager can work to create an inviting community for everyone to enjoy.
If you're in need of a real estate asset management company, PMI Austin can help. We'll work with you to create a community that operates at full capacity thanks to our one-of-a-kind property management services. Contact us today at 512.222.8073 or email us at info@pmiaustin.net to learn more.
