What Does a property management Company Do?

property management companies vary in their service offerings but there are some things all of them must provide to be called a property management company. This article will discuss the most important services provided by property management companies as well as how Mansfield Property Solutions successfully delivers those services to our clientele.

Rent Collection

Property management companies do what their clients may not feel all that comfortable with doing, as well as those with limited time. The most important of these is rent collection because it is an important source of income for clients. Not having to collect the rent from tenants directly and having it coordinated and completed by a property management company is very appealing to most owners, but that is far from all they do.

Property managers are also responsible for enforcing any fines and evictions.

Routine Property Maintenance

Most property owners use property as a means of passive income and have other (usually fulltime) jobs occupying their time. property management companies deal with regular maintenance to ensure the safety and comfort of tenants. The administration of these activities is critical to successful property management.

This includes things like gardening, pool maintenance, servicing structures as well as ensuring security is running smoothly.

Sourcing Reliable Tenants

The most difficult part of renting out a property for owners is finding someone so the house doesn’t sit empty (not making money). It is imperative to not only find someone but find the right someone.

Reliable tenants are few and far between, so finding them is somewhat of an art. property management companies will handle this process in its entirety.

Logistics for Tenants Moving In

Once your property management company has secured a reliable tenant for your property, they will handle the logistics involved. This includes:

·         Drawing up and delivering the leasing agreement to secure a signature.

·         Confirming the move in date with the tenant.

·         Reviewing all policies and guidelines with the new tenant to ensure they have read and understood all the rules in place

·         Reviewing lease guidelines and legalities.

·         Performing inspection alongside the tenant and secure a signature confirming the condition of the property before the move-in date.

·         Collecting the first rent (and following months’) as well as the security deposit.

Legal Matters

Reliable property management companies like Mansfield Property Solutions handle all legal compliances to legislations and regulations including:

  • Sectional Title Act
  • Share Blocks Control Act
  • Companies Act
  • Occupational Health and Safety Act
  • Protection of Private Information Act
  • Labour Relations Act
  • Basic Conditions of Employment Act
  • Protection of Private Information Act

So the question is less “what does a property management company do?” and more “what doesn’t a property management company do?”

Watch Kris Krohn’s video What Do Property Management Companies Do? To better understand the services property management companies provide.

For reliable services from a renowned property management company contact Mansfield Property Solutions.

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