Property Management: Problems & Solutions Pt. 2

By on July 1, 2015

In our previous blog post, we covered the basics of property management. In this post, we are going to cover the common problems that follow with hiring the property management firms and their respective solutions.
Problem 1:
Communication gap is one of the most trivial problems that clients have to face. Calls getting bounced from one service desk to another, waiting period of eternity, busy phone calls, no one responding while the phone was ringing and no promise to return calls. How is any client supposed to believe these made up stories when your management has a lazy attitude?
Always check reviews and feedback before hiring any property management company. Ensure they have a good customer support. Some companies even offer a personal manager who is held responsible for your property. You can talk directly to this person. This will help you avoid all the hassle, frustration and nonsense which were never a part of your agreement.
Problem 2:
Cryptic financial reports are another headache for customers who are not used to handling accounts. Even many top professionals failed to decipher these complex reports and feel completely hopeless. They are bound to pay for the services they did not receive. Most of the companies have set up their reports like this and the client feels like he is trying to decipher the DA VINCI CODE.
Some property management companies have allied partners that provide services at a highly competitive rate. Hiring such company will ensure that you don’t feel cheated while they charge you for some special service that they are not providing. A good return for your money is guaranteed in such cases.
Problem 3:
Common practice of forwarding the contract and maintenance of the rental space to one of the allied companies is also very common.

Check in advance their sample financial reports.

Read more at Online Property Management Software

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