5 Problems That Makes Life of Landlord Miserable
Managing a property is not an easy task, it comes with a great responsibility. Landlords have to face many problems that make their life miserable. The list includes many things that we will be discussing today and offering a solution as well to lessen the landlord problems. Above that,to reduce your stress and problems related to property management you can get residential property management services from experienced companies like Real Property Management Associates in Cape Cod.
The landlord problems that make their life miserable are listed below:
Bad tenants can be a worse nightmare for many of the landlords. In this scenario, the landlord has to face the issues like late rent and poor property maintenance. These all problems and more add up to make the life of a landlord miserable.
To avoid this problem, it is very important that proper screening of tenants should be done. A landlord should check their financial background and inquire about their character from their previous landlord before selecting them as his tenants.
2-Late Night Phone Calls
What if you being a landlord receiving a call from your tenants at midnight? This situation is definitely not acceptable. Irrespective of the problem this prevailing situation will put stress on the landlord if he needs to visit the tenant’s place to see minor problems that can also be fixed in morning. Tenants should wait for morning instead of disturbing their landlord in midnights.
To tackle this problem being a landlord, you need to have a regular inspection of your property to identify any maintenance issue and should give your tenant a time in a day in which they can call you about problem related to property to get it fixed.
3-Not Telling About the Real Problems
What if your tenants call you or come to you and say that I am leaving the property? When you inquire about the problem and find out that your property is having problems regarding the leakage or the HVAC is covered with mold that causes breathing issues. Well, this is not the mistake of a landlord because it is the duty of tenants to report such problems so, that an instant action can be taken. But when tenants do not report the problem this will cost the landlord a huge amount of money putting a burden on his pocket.
To handle these issues and save yourself from costly repair, it is recommended to do a regular inspection as mentioned before. In this way, you don’t need to rely on your tenants to get informed instead you can know the problem by yourself and fix it timely.
4-Late Rent Payment and Utility Bills
Late deposit of rent and utility bills are serious landlord problems with tenants. To collect the rents, they have to visit the property many times. This frequent visit for collecting the rent makes the life of landlord miserable.
To avoid this problem, you need to give an early reminder to your tenants that they need to pay the rent or utility bills before a particular date.
Furthermore, if you are away from tenants, then you should give them online payment access so that they can transfer the amount directly to your account as it is easy and convenient method of avoiding the late rent payment issues.
5-Hiring Incompetent Property Manager
Many landlords for reducing their problems hire inexperienced property managers. But sometimes hiring incompetent property managers can lead to more problems and add stress in life. Furthermore, some landlords may not hire them this will also cause problems that include payment issues, issues around repairs and maintenance, damage to property, lack of understanding regarding the actions that need to be taken when receiving complaints and general issues related to legal obligations. A landlord has to face these problems without a property manager as well as when a landlord hires an incompetent property manager.
To avoid this problem, you need to hire a professional property manager that is having complete experience of handling issues. In addition, to avoid common problems without property manager you should be able to tackle with them.
These were some of the conditions that can make the life of landlord miserable. To put an end to all your problems regarding property management, you can hire property managers South Shore.
To know more about the property management services and vacation property management Cape Cod, call us at (508) 509-4485.