While these stories might seem funny in some ways, they are also important warnings for landlords who might be struggling to manage their own properties. We hear things like these all the time.
Nonpayment of Rent
Recently, we took over the management of a property for an owner who had not collected rent in two years. That’s baffling to us – how can you continue to rent to tenants who are not paying? By taking control of that property, we will ensure that rent is collected on time every month from responsible, well-screened tenants. Of course when we dug into this, the tenants in the property were not who the owner thought they were.
Another story we hear too often is about unauthorized occupants. Sometimes, a property owner will go over to the property and find 10 people living in an apartment. The only people who should be residing there are the individuals who are on the lease, and have been screened and approved. In the case of this story, the owner was also self-managing, and the tenants assumed it was okay to just keep moving new people in. As you can expect, 10 people in an apartment will cause increased and rapid damage to carpets, appliances, and the overall property.
Lack of Tenant Screening
Not screening tenants is a big mistake that we are shocked to hear about all the time. Owners have rented to convicted felons, pedophiles, murderers, drug addicts, just about every type of undesirable tenant you can think of. If you’re trying to just get anyone in there, and you say yes to the first person who shows up, you are going to run into horror stories of your own. We have heard tales about people defecating in heater vents and writing or spray painting crazy stuff on walls. Be careful. There are some nutty people in the world, and you don’t want them in your home. This is the owner’s responsibility if there is no property manager to do the screening for you. It’s critical to market well, screen well, and do a complete move in inspection.
These are some examples of the situations you want to avoid. You can prevent horror stories from happening to you with Sarasota / Bradenton property management or Portland property management. For some professional help, contact us at PropM, Inc.