1. Answer The Phone! Do you ever wonder why your property seems like it is sitting on the market without a tenant for a long time? Companies are just like people, some are better than others. It is frustrating to real estate agents when they call with a question about another companie's rental on the weekend or evening and do not get a call back for a day or two, if at all. Have you ever noticed how a prospective management company who is looking for your business always returns your calls immediately? Well, when a prospective tenant wants information about your rental, someone needs to answer the phone or at least have an immediate call back if they are on the other line. Your property can be sitting on the market for extended periods of time because of this lack of communication. An on-call service that has someone in charge of incoming calls for the hours when the office is closed is pertinent. Try calling the main office number on off hours to see what the response time is.
2. Do More Advertising! The quickest way to get a property rented out is by doing the maximum amount of advertising in as many areas as possible. Newspaper advertising is still bringing in a huge amount of prospective tenant responses, even with all of the online marketing that is now available. It is the most expensive form of advertising which is why most companies charge extra for this service. At Results Realty we put all of our available properties in the newspaper every week as well as all of the other advertising avenues we take advantage of. It is the easiest thing for a company to put your rental in the MLS system and then just close their eyes to any other advertising because it may cost time and money.
3. Perform Interior Property Inspections! It is difficult to schedule them regularly as the tenants have various availability times, as well as schedule conflicts due to vacations, illness, etc. You are lucky if you get a drive by for your property once a year. How do you expect the properties to stay in quality condition if they are not being checked on a regular basis! Things like unauthorized pets, property damage and/or people living there who are not on the lease are just a few items that should be on the checklist. Is the company actually doing what they say they are doing?
4. Follow Up! Did the tenant take care of the violation in a timely manner? Was the HOA company notified that the infraction has been completed, or have you been called into a hearing? Typically HOA companies give 10-14 days to resolve a violation. Is the tenant now disgruntled because no one ever scheduled a service item to be repaired, etc....? Management companies should assign the work order & coordinate with the tenant in a timely manner. Also, a call to ensure that the repair was preformed properly and that the technicians were professional goes a long way.
5. Protection! No one wants to end up in court. Are the proper forms being utilized? Make sure there precautionary things being done to assist in that, such as extensive photos, videos and property condition reports. Put it in writing! The more items that are documented the more protection you will have, such as lease violations, HOA violations, non-payment and repairs just to name a few. Are policies and procedures in place to alleviate and/or eliminate any discrepancies?
Owner/Broker
805 S. Rainbow Blvd.
Las Vegas, NV 89145
O|702-685-9999 F| 702-684-5555E| results@rrvegas.com
W|http://www.rrvegas.com
