Duties of a Do-It-Yourself Snellville Property Manager
Owning rental property can be an exciting investment, but doing the job of being your own Snellville property manager requires more than just putting up the “For Rent” sign. Let’s review what a Snellville property manager needs to do to professionally manage their properties. Once you find out, maybe you won’t want to hire yourself for the job.
Understanding your Liabilities
Property management companies need to comply with all of the laws and regulations involving rental properties. These laws are Federal, State, and local municipality in nature. They require quite a bit of research and knowledge to understand which apply to your rental property.
There are insurance requirements, licensing requirements, landlord/tenant laws, as well as fair housing laws – and that’s just the tip of the iceberg! Some of these laws and regulations can get complicated, even for people who know what they are doing. Knowing how to properly and legally screen potential tenants to when a maintenance item must be taken care of are all important factors when deciding to handle property management yourself. Not understanding or complying with property management laws and regulations can create mistakes that cost you money and your reputation.
Difficult Tenant Situations
Sadly, life isn’t always paradise. Your tenants may experience personal difficulties with relationships or job loss – you name it. At some point you will probably have to deal with it. Being a Snellville property manager means whatever your tenants’ situations are, it may result in not getting your scheduled rent payment. It is the Snellville property manager who takes on the ugly responsibilities. These responsibilities include asking for late rent or even dealing with costly and time consuming evictions. Difficult tenant situations is not an enjoyable part of the job.
As a manager, you will need to be available to your tenants 24 hours a day, 7 days a week. Real Property Management of Greater Gwinnett knows that when a tenant or property has a need, that need should be given attention quickly. Some problems can wait; whereas some things will need your immediate attention. Plumbing problems rarely happen at a convenient time. Just imagine sitting down at the dinner table for an important family occasion and then getting that call demanding your immediate attention be on your property and not on your family.
For more information about hiring help to manage your rental property visit https://www.rpmgwinnett.com/
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.