How to Turn Over a Tenant to a Property Management Company
Are you managing your own property? Getting calls in the middle of the night because there is a broken water pipe in the laundry room? Tired of your resident paying their rent late, month after month?
Not really sure what to do or how to turn your existing resident over to a management company? One thing you do know…you are tired of being the one in charge.
Will you manage my property while it is resident-occupied?
I have been asked this question many times over the last 12 years. Most owners don’t think we can manage their home while the resident they placed in the home occupies it, but we can.
Here at Management One, we built a system around this very question, to ensure a smooth transition for both the owner and the resident. In this article, I will give you security in knowing that we can manage your property with no hassles.
Property Occupied - Resident is on a Lease
We have a system in place that will ease the transition for you. Here at Management One, we want to make sure that you as the owner and your resident have a great experience with us. Customer service is our top priority. Our proprietary systems platform covers all aspects of this transition. All divisions in our company have tasks to complete for you. I will break it down by section, so you can see what the transition is and how easy it will be. This will be worry-free for you.
Accounting Department
The accounting department will have about 11 items to follow up on to ensure this smooth transition. They will enter all the resident's detail. This consists of adding your property to our inventory. This will have all your personal information along with the information of the resident. We will honor the lease that you have provided us for the resident. After that expires will then transfer them to ours. The accounting department will put all the details in of the resident’s information. They will contact them and go over the portal for you as the owner and portal for the resident.
The online portal for our residents and our owners is critical in providing top notch customer service. It allows all parties to see real-time information.
Benefits for the Owner
The portal can give you instant information. Its Friday night you just got home from work, and you look in your bank account and realize that your rent check was short. You pick up the phone to speak to the accounting department and no answer. You are now so frustrated right now you look out your spouse and just come unglued. “We are short $200.00, from our rent check.” Its Friday night and I won’t be able to talk to the office until Monday.
Your spouse replies, “Calm down Johnny, the accounting department contacted me today and gave me instructions on how to review our account.” Johnny calmed down.
They both sat down at the computer and went into the portal and were able to see they needed a repair to the front door. Going to view everything at your fingertips could lower your blood pressure and allow you to manage your property better. Here is a list of items you will see on your owner portal.
- Your Monthly Statement.
- Invoices along with before and after photos of the repairs done to your home.
- Your monthly Exterior photo of your property.
- Annual Inspections
- Newsletters
That is great to have all this information at your fingertips 24 hours a day, 365 days a year, and you can even view it on your smartphone if you’re traveling. This will keep you at ease, and you will be able to get a lot of questions answered when you can’t reach anyone at the office.
Maintenance Department
The maintenance department will also be involved in this transition. The property inspector as we call them (PI’S) will set up an Annual inspection with your current resident. This is a 15-page report that goes over the entire home. This includes photos of all rooms and the PI may let you know of any work that may need to be done or give you recommends improving your property. It also allows us to build rapport with your resident, so we can extend the time the resident will stay on your property.
On the inspection our PI will give the resident instructions on how to keep the yard at its best condition with our Grassology program, it gives them step-by-step instructions to make their lawn the best on the block.
Emergency Team
We will rekey the property if needed. Management One also has an emergency line that we will give to your residents. This will allow you to sleep at night, with no more calls at 1 am telling you there is a water leak in your home. They will just contact our emergency number and contact our highly trained vendors. This sticker is on the front window of your home. When your resident isn’t home, and the neighbor could also contact the emergency team to protect your home.
Management One also has a $50.00 No-Hassle program. This is a great program that allows residents to take care of minor repairs at the property, saving you money. The resident will get money back on the item they purchased once they turned in a receipt to accounting. Saving you labor charges and a trip charge. Also, this gives you the security that the resident is taking good care of your property.
Leasing Department
Our leasing department will also contact your resident. They will set the resident up on their portal. The resident portal allows them to pay rent online, submit a work order, and check their account. Also, we will try and get your resident on our lease, however, if you do have a current lease with them, we will have to abide by that lease until it is up. Once your current lease is up our leasing department will send you a rental analysis to show you what the market rental is so can improve your cash flow. We’ve proven if you give excellent services you can raise rents, and the resident will still stay. Out of 500 properties where rents were increased, only 3% of the residents gave the notice to leave. Additionally, we increased the rent to market rate gave the owner, even more, cash flow.
Management One has everything covered for this transition. You will be able to enjoy life without the stress of managing your home. “YES, Hassle-Free”. Let us take all the worries of self-managing your home.
If you are looking to gain your life back and not be so connected to your rental property, then click the link below and our New Accounts Representative will be happy to speak with you. Let us help you get your life back!
