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For landlords in possession of the property, renting out some rooms to potential tenants can come with some unforeseen challenges. Tenant rentals can be a good source of passive income for landlords, but they can raise some time-consuming and stressful issues. You’ll need to be prepared to resolve any problem that comes your way and a property management company, like our experienced team at Mareka, can step in to provide assistance.
Mareka Properties is a condo management company that can help alleviate the burdens landlords often have to face from their tenants. We’ll assist in dealing with maintenance repairs, retaining old and new tenants for your properties, and efficiently cutting down on vacant units. Property management services like ours can greatly organize and mitigate a landlord’s responsibilities for their properties.
If you’re still unsure about the role of a property management company, we’ll provide some compelling reasons why you should consider relying on us. We’ll go over how a company like ours can help you overcome typical landlord challenges, as well as list out the most common problems they have to deal with. To keep more tenants in your units, we’ll also explain how to lower turnover and prevent empty rental units.
Landlords already have the tough job of managing their properties and renting them out to tenants. With a property management company by your side, you’ll find more peace of mind because of their experience dealing with tenant relations and logistics.
First, property management services will often screen potential new tenants to ensure there are fewer bad apples using your unit. They’ll often ask new tenants to provide forms such as an employment letter saying what they do for a living and if they can pay their monthly rent on time. They’ll also go through mandatory credit and reference checks that provide information on the tenant’s financial activity and personal character. Afterwards, we’ll personally send in the applications to you and let you choose which unit to fill with each tenant.
If your property has constant maintenance and repair issues, it can be a challenge for landlords to resolve on their own. That’s where a company like Mareka can step in and provide tenants with a list of contractors to handle any repair. By submitting a maintenance request, you can resolve issues in a unit at any time you need and at different price points. The pricing is transparent and you can be assured that the problem is being entrusted by an expert.
Speaking about timing, property management services are available for tenants to contact 24/7 annually. Rather than having tenants waste your valuable time every day, we can help resolve issues with them as a middleman and let you focus on other activities. We want to make your job easier and help make your tenants feel more at home. Property management companies will thoroughly manage your rental unit and handle interaction with tenants respectfully and promptly.
By relying on a property management company, you’ll incentivize your tenants to sign new leases every year, retaining them for another year and preventing the unit from being empty. We’ll handle the rent collection and maintenance requests to ensure your landlord’s position is smooth and transparent.
There are many recurring problems a landlord can face if they own several properties. One of them is high tenant turnover, where people leave their rental units, leaving them unoccupied and unprofitable. In addition, receiving late payments can be a frustrating issue as well, especially if it’s a constant problem every month. There’s also the matter of maintenance and repairs, which can be more complicated if the property is very old.
As discussed previously, property management companies have solutions for all these issues that landlords can rely on. They’ll thoroughly screen new tenants before taking their rental unit and make sure payments, paperwork, and repairs are followed through. We’re also knowledgeable about various legalities associated with owning rental properties. We’ll make sure you know what tenant rights you have to be aware of, as well as certain rules and bylaws you’ll need to comply with. Property management companies know these rules inside and out and we’ll help you stay out of legal trouble.
To lower your tenant turnover rates, a landlord should rely on a property management company to be as transparent and fair with them as possible. A big reason why tenants move away is their dissatisfaction with landlords in charge of their rental units. By relying on Mareka Properties as the middleman, you’ll deal with less stress and the tenant will have someone to help resolve their issues.
Contact Mareka Properties today to learn more about how we help landlords effectively manage their properties. We’ll help your tenants enjoy a great rental experience in 2022!