How to solve the biggest property management issues

In today’s real estate landscape, property management has become quite a complicated job tied up with different kinds of details and diverse people. To run your business seamlessly and in a profitable manner, you need to deal with greater responsibilities beyond those conventional bill paying and rent collection processes. As property management is mostly a customer-centric business, the more time you’re able to spend dealing with the tenants, your vendors and your staff, or developing and executing programs which will increase the experiences of all these people, the better. But, in reality, it’s easier said than done. Here’re some of the biggest property management problems along with their solutions to help you out:

  • Emergency repairs and unexpected maintenance: Emergency and unexpected repairs are never easy to deal with and can be costly. That’s why you always need to add reserve and contingency accounts to your budgets. Also, it would be wiser to schedule a preventive maintenance plan and have T&M contracts in place. These steps would help greatly in driving down the expenses and let you stay within your budget.
  • Hiring new contractors: When you come across a maintenance issue, it’s easily understandable that you always want to get it done as economically as you can. Since contractors can charge almost anything they want, it’s always advisable to make a short survey among a couple of contractors, which will definitely lower down the cost a little. However, if you spend a couple of weeks only to find out the cheapest contractor, the tenant complaints will be skyrocketing as well. Ideally, you should try to develop a network of responsive and trusted contractors whom you can call as and when an issue emerges. This way, you’ll be able to get the job done in a faster and efficient manner and keep the tenants happy.
  • Tenant complaints: You need to accept that property management isn’t just about managing the properties you own. Instead, it’s about dealing with different kinds of people. Complaints do come in all sizes and shapes and could be anything from simple to serious problems. Irrespective of the issue, the best way to deal with a complaint is to address it right away. Remember that the longer you keep it unaddressed, the more the problem would escalate. Meet your tenants as soon as you can, listen to them carefully and reassure them that you would be doing your best to solve the issue. You may not be able to fix that immediately, but you’ll earn their trust and respect. comm
  • Communication: Proper communication matters a lot in resolving different property management issues. Simply put, it’s the mortar that holds your building together. To make your business run seamlessly, you’ve to make sure that everyone in your building understands one another. As the property manager, you’re the go-between for everybody in your building. It’s not an easy job when it comes to dealing with different people with varying personalities and different kinds of jobs that require immediate accomplishment. You need to listen thoroughly, understand and translate the messages between everybody – tenants, staff, engineers and vendors. To maintain an open channel of communication, you can hold quarterly tenant, staff and vendor meetings.

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Estefania Castaneda
Estefania Castaneda
17:24 04 Sep 21
Extremely pleasant, attentive to all my needs always. It was a pleasure renting an apartment from Ken.
Vichai Soysouvanh
Vichai Soysouvanh
14:17 03 Sep 21
Can't say enough about Ken and his team. This was the most seamless sale I made. I didn't have to deal with all the... nonsense that comes with selling your home. They bought my house as is, I didn't have to declutter and pay a broker commission. All in all great experience, will do business again.read more
Niki Keser
Niki Keser
17:46 06 Aug 21
I had a wonderful experience renting one of their properties for 7 months. The apartment was beautifully remodeled and... Ken and his team were always responsive to any needs. I would recommend to anyone looking to sell or rent.read more
YASMINA VASQUEZ
YASMINA VASQUEZ
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Ken and his team were professionals ,they promised and they delivered or anything
Alfredo Garcia
Alfredo Garcia
03:20 17 Jun 21
Selling my property too Ken was the best thing I did. Although I was skeptical at first I soon found out how... professional he was. Even though my closing contract was not standard because of the pendemic situation. He followed through on time with all the contract terms as promised. Thank you Ken for your professionalism.Alfredo Gread more
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Vishrut Patel
23:27 19 May 21
Ken was referred to us by someone who had sold their home thru Ken last year. From the first meeting to the last... transaction, Ken and his team were professional, efficient, easy to work with, and above all.... caring. Each seller's situation is different, and Ken truly understands that. We were treated with respect each time.Since we were in a time crunch situation, selling our home with a cash offer from Ken was the best decision we could have made. We were perfectly okay with getting slightly less money for our home as compared to selling it via an agent. But if you consider the money saved on agent commissions (both buyers and sellers), closing costs, repair costs, attorney fees, and most important of all... time and headache, you can't beat the option to sell your home with a guaranteed cash offer from a reputable buyer like Ken.My wife and I were very pleased with our experience with Ken. If you are in the market to sell your home fast for a cash offer, I highly recommend giving Ken a call!Best of luck!Vishread more
Christopher Martino
Christopher Martino
14:19 10 Mar 21
Ken and his team were great. They were easy to work with, professional, and responsive. If you are thinking of selling... your home they offer a super easy process.read more
Chelsea Grant
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15:36 03 Jan 21
I am a travel nurse and stayed in a town home for 3 months... It was exactly as described and any issue that came about... was handled within a few hours - I would definitely recommend and I would definitely stay again!read more
Aaron Zachko
Aaron Zachko
12:41 14 Aug 20
Amazing experience! Ken was upfront, quick and got the deal done in no time. Having done a number of real estate... transactions this was by far the easiest and smoothest. I would unconditionally recommend him to anyone looking for an easy, quick and fair transaction.read more
Joseph Tricarico
Joseph Tricarico
19:10 26 Mar 20
Ken is a very professional individual from start to finish. As promised, he gave me a fair deal on my one of my... properties that was in rough shape. He was knowledgeable and responsive to my requests and as promised we didn't need to waste time with inspections and appraisals and we closed quickly. He made it painless as possible by having his crew handle the clean up. This was truly a quick and easy process but a professional individual. Thanks Ken!read more
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