Massachusetts Property management can be quite a challenging task. There is no room for error in this field though there are people who do end up making mistakes. If you believe that a property manager is making mistakes, then it is time to find a new manager. The following is a list of mistakes one can make while managing property.
- Fraud: If your property manager is committing, overlooking or encouraging acts of fraud then it’s time to let him/her loose. There is no reason for you to continue with their services if they have no integrity.
- Unorganized manager: Do not keep a manager who allows problems to pile up. They will keep making mistakes and this will end up causing more damage.
- Public Safety: The property manager does not take any action against dangers to public safety. If there is any illegal drug use in the property, then it’s time to get rid of them rather than let it persist. The same applies to domestic abuse, violent behavior, electrical or fire hazards and endangerment to children.
- Tenant Screening: Not screening any tenants is a mistake. There are some tenants who have an unfavorable background and may not be suitable candidates. Those who screen potential tenants are able to save themselves a lot of trouble.
- Maintenance: Ignoring maintenance calls is one of the worst mistakes in the list. Massachusetts property management requires maintenance from time to time. Not tending to maintenance requests will end up in reduced goodwill from clients.
- Routine Inspections: Do not schedule too many routine inspections in one time slot. There are property managers who tend to schedule several inspections in one day. This ends up with the inspections not being done properly. They might end up missing some details. This can have consequences on the state of the property later.
- Insurance: Letting an insurance policy lapse is the biggest sin of them all. Make sure that you know when the policy is expiring, so that you can renew on time.
- Records: If you do not keep any records, then the IRS will come after you. Make sure that you have everything documented and all taxes are filed on time.
- Lease Renewal: The worst mistake to make is to sign up clients without a proactive renewal policy. It helps that they are given options to allow them to renew. Those who do not miss out on a stable income.
- Availability on telephone: It helps to be available to clients over the telephone. Try and be more responsive and available. Those who lack phone etiquette and responsiveness will only end up losing clients.
We hope this list will help you with your Massachusetts Property Management.