Do's and Don'ts of Residential Property Management
Residential property management involves managing rental properties like detached single-family homes, townhouses or condominium units. Property managers must have strong customer service skills, as they communicate with residents and vendors on a daily basis. They also have to be familiar with local laws regarding tenant screening, and eviction proceedings. A property manager is also responsible for logging repair requests and finding local contractors to carry out these repairs. Rent Collection Residential property managers Dundee must be able to collect monthly rent payments from tenants and apply them as outlined in the lease agreement. This helps the landlord cover mortgage payments and other business expenses. Many landlords use electronic funds transfer or direct deposit to receive rent payments from their tenants. This is a good option for investors who live out of state or have multiple rental properties and don’t want to have to pay employee wages. It is also important for