Managing your real estate properties can be challenging, especially when you have multiple properties in different locations. That’s where a property management company can come in handy. They take care of every aspect of managing your property so that you can relax and enjoy the income.
However, not all management companies provide the same value and quality service. If you feel your relationship with your management provider is not the right one, consider switching to a new company!
When to Switch Property Management Companies in Orange County? (4 Signs)
Not all property management companies offer the same complete service as others. If your property management company is not providing you with everything you need, consider switching to a new one.
These are the red flags of a bad property management company:
1. Unclear and Poor Communication
One of the essential services of a good property management company is its communication with residents and landlords. This rapport creates a friendly environment for everyone to thrive. However, when that communication is missing, there can be problems between residents, landlords, and the company itself.
Imagine if you have a resident complaint that your management company has not solved and hasn’t been reported. It can quickly turn into a real problem.
Similarly, if there is a maintenance issue that your management company has not reported to residents, they might file complaints. Communication is essential, especially between residents and management.
2. Missed Deadlines and Details
There are few things more important in the professional world than punctuality, regardless of the industry or job. So, when deciding whether or not to switch property management companies, keep in mind that punctuality means reliability. If your management company is constantly missing deadlines, it is better to replace them.
Accumulated missed deadlines lead to problems down the road, not just for you as a landlord but also for your tenants. They rely on your property management company to keep everything in order, which also means punctuality.
3. Rent Collection Problems
One of the essential duties of a property management company is rent collection. This means the company handles all payments from your residents and deposits them into your chosen account. However, what happens when there are problems with this critical service?
Problems with rent collection mean you will not be getting your payments on time, which can disrupt your cash flow. It can also create problems with the residents if they try to pay on time, but the company is not punctual with the collection. All of these problems can lead to dissatisfaction for you and your tenants.
4. Incorrect Reporting and Monthly Statements
Many reports and necessary paperwork must be completed properly when renting out a property. One of these vital documents is the eviction report, which can lead to legal problems if not done correctly. Eviction is a heavily regulated action in Orange County, CA, so you must be careful when evicting someone.
Another essential report is the maintenance report. For instance, when the elevator or the pipes need maintenance, they must be dealt with immediately. If not, it can lead to inconvenience for your residents and, ultimately, dissatisfaction. This can mean your residents will think twice before renewing the lease.
What to Look for in a Property Management Company
A property management company is in charge of running your rental properties. They should handle rent collection, evictions, screening reports, and more.
Because they do the hard work for you, they get to keep a percentage of the income. Furthermore, these companies attract residents, so you won’t have to worry about empty rentals.
The right property management company will handle every stressful aspect of being a landlord while giving you the time you need for other activities!
Choose the Genuine Experts of Orange County Property Management
With years of experience in the industry, Genuine Property Management has become the leading expert in Orange County. Our team has developed the best methods to help you get the most out of your rental properties through our commitment to excellence and quality.
Here’s what you can expect if you choose Genuine Property Management:
- Tenant screening process: It is not enough to just find tenants for your property. Those residents also need to be of high quality. We take care of this by checking backgrounds, credit history, eviction reports, and more to make the right decision. We can also help collect security deposits.
- Same-day rent payment and collection: When we receive your resident’s payments, you’ll get your money in your account. We also make it easier for residents to pay through their own portal and online payment methods.
- Landlord portal: Your landlord portal contains all the information you need about your rental properties, from reports to the maintenance list. It is easy to access and has been programmed to be user-friendly.
- Pet screening: We not only perform an extensive resident screening, but we also do it for their pets. We know allowing pets can be important for attracting quality residents, but they can also be a liability. So, we ensure every pet that gets accepted has had a background check to learn whether they are destructive, loud, or worse.
At Genuine Property Management, we understand that you need to feel comfortable with your management company. There must be trust, punctuality, transparency, and clear communication to create a professional relationship. Contact us at 949-209-9494 to learn more about our property management services in Orange County!
