Effective communication is essential for any professional relationship to thrive, including the one between a landlord and their property managers. Many Phoenix landlords discuss their expectations and management preferences with their property managers beforehand to avoid disagreements further down the road.
However, if you are a new investor, you might be unsure of what to expect from your property manager. Not only should your Phoenix property manager regularly update you on the state of your rental and keep you in the loop regarding all tenant issues, but they should also bring all the important factors that need your consideration as the property owner.
Here is when you should expect to hear from your Phoenix property manager.
During The Onboarding Process
During the onboarding process, your property manager should explain all the services they offer and how they will help you earn maximum ROI. They will try to know how often you would like to receive property-related updates. Usually, property managers submit monthly reports. However, some landlords may choose for weekly updates and expect to be informed about every minor detail with respect to their rental. You can choose to be kept posted as per your preference.
Tenant Screening Updates
Immediately following the onboarding process, your property manager will list your rental on various listing platforms to find the right tenant for your unit. The candidates will be scanned thoroughly with a multi-step process, and the ones that meet your criteria will be selected. They will also inform you about shortlisted candidates, their background information, and other important updates regarding the screening process.
Updates On Phoenix Property Inspections
Your property manager is required to conduct a move-in inspection when the tenant is about to move in. Additionally, they are also required to carry out routine and move-out inspections to check for any issues and resolve them. The property manager will also provide you with a detailed inspection report that includes the current state of the rental, its issues, and repairs.
The Status of Maintenance Issues
The primary role of a property manager is to look after the maintenance of a property. For that, they have a list of qualified professionals who can promptly resolve maintenance issues. If your tenant raises a repair or maintenance request, your property manager will ensure that it is taken care of immediately. Additionally, they will also update you on the details of the issue within 24hrs, along with its cause and the projected repair cost.
Communication During Check-ins
An experienced rental management professional will also facilitate regular check-ins. These are held once every three months wherein the property manager will discuss their management style, expectations, revise and rework their method of operation. They will also submit all essential reports related to the rental and discuss their roles and duties for the future.
Delivering Financial Reports
One of the key roles of a property manager is to help you accomplish your financial objectives. Therefore, they will look after collecting rent, paying bills, preparing a budget, maintaining a record of expenditures, and ensuring a positive cash flow is generated. As per your discussions, the property manager will be periodically submitting all financial reports, in addition to monthly income and expense statements.
Once you entrust the responsibility of your rental to a capable property management company like Keyrenters Premier Property Management, you can expect routine updates from them about important matters. We practice transparency in communication and make sure that our clients are well-informed about every important aspect related to their valuable assets.
For any assistance regarding Phoenix property management, reach us at Keyrenter Premier Property Management.