When taking on the role of a property manager it is important to be able to answer any potential questions that your tenants or prospective tenants may have. Being able to quickly offer a response to a question not only educates your tenants but also establishes you as a responsible and knowledgeable property manager. While providing your tenants with answers is important, knowing the specifics of the property you managing is crucial to facilitating a positive experience. For property management companies in Hagerstown MD, these are 15 questions that you should be sure to know the answers to.
1. When is Rent Due and How Can I Pay It?
Collecting rent is the bread and butter of a property management business. Making your tenants aware of when the rent is due, how to pay it, and any late fees are some of the most important pieces of information that property managers can share with their tenants. There are several different options for collecting rent but an automated software or rent collection app will make paying rent easier for both parties.
2. What is Included in the Rent?
Your tenants will want to know what is included in the rent, especially if the price is higher than what was listed. Let the tenants know if there are utilities included or if any available amenities are accessible and included in the rent payment. An itemization of what is included in the rent payment should be included in the lease agreement.
3. How Long is the Lease Term?
Normally, lease terms are 12 months long or for multiple years. Shorter lease terms can also be offered at a higher rate. Should you choose to offer multiple lease terms, be sure to include the pricing details to any interested potential tenants.
4. Are There Rules on Having Guests in the Residence?
Placing restrictions on tenants having guests is entirely up to the landlord and property management company in Hagerstown MD. Too strict of regulations on guests could potentially deter prospective renters. If a tenant wants to have a guest stay at the residence for an extended time, make sure the guest fills out the tenant application to avoid any complications.
5. How Do You Handle Maintenance Requests?
You will want your tenants to be well aware of how to make a maintenance request. Should maintenance be requested, the property manager should be made aware of the request immediately and take the subsequent steps to provide maintenance. You will also want to have a standard procedure in place for fulfilling maintenance requests that your tenants should also be made aware of.
6. Can I Make Personal Changes to the Residence?
Naturally, renters are going to want to personalize their living space. There are plenty of adjustments that can be made to a residence that are not permanent and can be easily removed once the tenant moves out. Other personalizations like painting walls or hanging something from the wall or ceiling should be first approved by the property manager.
7. Will I Be Able to Get My Security Deposit Back?
Conditions concerning the security deposit should be included in the lease agreement. A security deposit should always be refundable if a tenant does not cause damages to the property that require repairs. If the damages exceed the security deposit, then further legal action could be taken to receive compensation.
8. Are Their Laundry Machines on Site?
Almost every renter would prefer to have laundry machines in their unit however, many rental apartment complexes have shared laundry facilities. Be sure to make your tenants aware of their access abilities to the laundry facilities, what is included in their unit, and any costs associated with using the shared laundry machines.
9. Am I Required to Pay Renters Insurance?
Not all landlords and property management companies in Hagerstown MD require tenants to pay for renters insurance. Renters insurance is not required by the Hagerstown Housing Authority but it is highly recommended as it protects you from having to pay out of pocket for any damages or legal fees caused by your tenants.
10. Is Parking Provided?
Parking is one of the most sought-after amenities for prospective renters, especially in urban environments. If any form of parking is provided be sure to include it in the lease agreement as well as any fees that come with using the parking.
Understanding Your Lease Agreement
As a property management company in Hagerstown MD, you should know all of the information in the lease agreement and do your best to commit it to memory so that you can quickly provide an answer for your tenants. Knowing what your lease agreement includes and what it doesn’t include will immensely aid you in performing the job of property management.
Professional Property Management Assistance
At Premier Property Management, we understand what it takes to be a property management company in Hagerstown MD that will retain your best interest as a property investor and effortlessly cultivate a positive relationship with your tenants. The professional team at Premier will handle everything that has to do with your property including maintenance, tenant screening, and rent collection so that you don’t have to worry about anything besides collecting your source of passive income. Contact us today to begin the process of having your property managed by the best in the business, Premier Property Management.