It's all too easy for someone's reputation to take a hit. From celebrities to businesses, it seems no one is immune to negative reviews or unfavorable online feedback.
Property management companies and rental property owners are no exception to this trend. Many unhappy owners and tenants voice their concerns about bad property management, but the good news is that high-quality companies do exist.
If you're looking for a property management company in Charleston, here are five signs that show you're dealing with a good property management company.
1. Professional Tenant Relationships
An excellent property manager believes in establishing great relationships with residents while maintaining a balance of friendliness and professionalism. However, building good tenant relationships can't include showing favoritism to any renter over another or enforcing lease rules for some residents but not all.
It's crucial to avoid favoritism or discrimination among tenants. Basing enforcement decisions on liking a tenant or not can lead to costly legal issues for property owners.
Written policies, procedures, and community rules help eliminate confusion, making the property management process smooth and fair for everyone. When choosing the right property managers for your rental properties, ask about their tenant management practices and lease enforcement policies.
2. Excellent Communication
Effective communication is the cornerstone of a successful property management company. The best property managers take the lead in keeping lines of communication open with residents and property owners on a consistent and continuous basis.
Whether it's face-to-face, by phone, email, or through various community documents such as newsletters, the best property management team wants tenants and owners to know that they are engaged in the community and welcome interaction.
3. Legally Sound Leasing Agreements
The leasing agreement is a legally binding contract between the property owner and the tenant that sets forth the terms of the rental of a property. Therefore, it's essential to have written agreements that expressly state the responsibilities and obligations of each party to avoid any legal problems in the future.
A good residential property management company will go above and beyond to ensure that all documents are in line with the law, providing peace of mind to both property owners and tenants.
4. Safety is a Priority
One of the top concerns for any property management company is the safety of its residents. The best property managers work diligently to ensure that properties are safe both internally and externally.
From smoke alarms to lighting to well-maintained staircases, they take every precaution to ensure that residents are safe and secure in their homes. To ensure homes stay safe, the right property management companies also conduct routine inspections and schedule preventive maintenance to stop minor issues from becoming significant, costly, and dangerous problems.
5. Low Vacancy Rates
When vacancy rates are low, property owners generate more consistent cash flow and long-term revenue. A low vacancy rate is a sign that your property manager is doing something right. Low vacancy rates indicate that perhaps marketing efforts are paying off, or maybe your residents are satisfied with the community because their needs are being met.
Professional property management experts must apply best practices to achieve consistently low vacancy rates. These practices include delivering high-quality services for residents, professional property listings and marketing, rental rates based on market analysis, and keeping homes in excellent condition.
If a property management company can't demonstrate low vacancy rates, you might not be working with the best one in the market.
Why Choose Charleston Property Company?
At Charleston Property Company, we are committed to providing the best property management services to our clients, covering the five areas we've talked about in this blog (and more). From tenant screening and placement to keeping your rental properties in excellent condition and optimizing on-time rent collection from all residents, we work hard to create a better experience for renters and rental property owners.
With years of experience in the industry, we have built a reputation for excellence and professionalism. Our team of experts has the knowledge and expertise to help you manage your residential property in Charleston, SC, profitably!
Choose a "Better Than" Good Property Management Company
We understand that owning a rental property can be a lot of work, and that's why we're here to help. If you're searching for a good (or better than good) residential property management company, we'll take care of everything, from finding the right tenants to handling maintenance and repairs, so you can sit back and relax.
Charleston Property Company is hands down the best choice for rental management in the area! Contact us today to learn more about our services and how we can help you manage your rental property.
Learn more about the best property managers in the area with our free resource, "Top Ten Property Management Companies in Charleston, SC."