Hi, I’m Mark with Rent It Network. Our firm specializes in managing single family homes, condominiums, town homes and multi-family properties throughout the Tampa Bay area including the counties of Hillsborough, Pasco, Pinellas and Manatee.
Today I am discussing how a Tampa property manager helps protect your investment home
One of the best reasons to hire a professional property manager is to ensure your investment home is being carefully protected. There are a number of ways your property manager will do this for you, and today we are talking about four specific things you can expect that will keep your property protected during a tenancy.
Collecting Security Deposits
The purpose of a security deposit is to ensure the property is given back to you in the same condition that it was given to your tenant. You hold a security deposit so you can pay for any damages or repairs that need to be made once the tenant moves out. There are a number of legalities associated with the security deposit. You have to hold it in a specific account and you need to return it in a timely manner at the end of the lease. Your property manager will know the security deposit laws and keep you in compliance. A property manager will also know the difference between property damage and normal wear and tear, so you won’t have any confusion about what you can withhold from the security deposit when a tenant moves out.
Move In Inspections
The inspection conducted at move in is the most important inspection you’ll conduct. This is your opportunity to document exactly how the property looks before the tenant moves in. A property manager will be thorough. There will be pictures and videos and detailed notes that show the condition of the house. It protects you and your rental property because the tenant won’t be able to claim that something was already broken or dirty at the time of move in. You’ll have clear documentation that will benefit you if there are any disputes about the condition of the property.
Property managers won’t stop at the move in inspection. They will also conduct routine inspections throughout the course of the lease. Your property manager will keep you informed about the condition of your property and communicate with the tenants about anything that needs to be repaired or taken care of. When your property manager inspects your property regularly, you’ll know that the terms of the lease are being followed and the house is in good shape.
Repairs and maintenance are a critical part of owning investment property. When you have a property manager taking care of these things, you can be sure the work will be done by a licensed, insured, professional vendor who does high quality work for an affordable price. Property managers have relationships in place with the best vendors around, and the amount of business they give those vendors with all the properties they manage means you are able to take advantage of a volume discount.
These are just a few of the things a property manager does to protect your investment property. If you would like to hear more about what we can do for you, please contact us at Rent it Network, and we’d be happy to talk with you.