LocalAgentFinder has identified the top concerns investors have when they’re engaging a PM. From security checks to inexperience, here are the four worries landlords have and how you can alleviate them.
Agencies without property management divisions
LocalAgentFinder CEO Matt McCann says investors expect their PMs to work in a designated property management department. The principal at the agency should also be involved in the department so that investors can be sure the PM is getting the support they need to deal with any issues. PMs who do not work in an environment like this are going to have a harder time convincing landlords they are property equipped to handle problems that arise.
PMs who have no experience dealing with difficult clients are a big no for investors. PMs who are not willing to be flexible when dealing with tenants are another concern as this is something investors equate with inexperience and try to avoid. Investors are looking for PMs who will make it as easy as possible for a tenant, therefore avoiding any unnecessary conflict and helping ensure a tenant will stay in the property longer.
PMs who don’t run requisite checks
One thing investors are concerned about are the checks run by PMs and whether they are as thorough as they should be. Transparency from PMs is a good way to alleviate this fear. If you are clear with your landlord about what checks you do and do not conduct, and why, they are not going to worry about whether their tenant has been properly vetted before they sign a lease.
PMs who don’t regularly inspect a property
Another main concern for landlords is the number of inspections that occur on a property, especially those who do not live in the same area where they own their investment. Transparency can fix this concern too. Being open with your landlords, when they engage your services, about the number of inspections you will undertake on their property and ensuring they are aware that you are keeping on schedule will help them feel more secure.