Each property management company is different, and if you’re wondering what exactly your property manager will do for you, it’s important to ask. Some companies will focus only on collecting the rent and overseeing repairs and maintenance on your home. There’s much more that we think a property management company should do for you.
Educating Landlords
At Chesapeake, we do collect rent and handle repairs so the property is maintained. We also spend a lot of time educating landlords and tenants on their responsibilities. Most of our landlords are first time landlords, and they’re not sure what they should be doing. We want them to be great landlords, so we spend a lot of time educating them on how to be successful.
Educating Tenants
Most of our tenants have never rented a single family home before and it’s much different than renting an apartment. So we educate them on whether they need to shovel the snow and handle the walkway and what repairs they are responsible for and when should they call us. If they don’t know, we want to educate them so they’re great tenants.
Most of our homes are within a Homeowner’s Association or a Condo Association. This can also be a first for our tenants. They don’t always understand the rules and responsibilities that they have within these communities. So we spend time helping them understand.
Maximizing Property Value
To help landlords maximize their property’s value, we provide recommendations on improvements, and whether they should raise the rent, or if it’s time to sell. We help them to read the overall market so they can make good financial decisions. We can help with a 1031 exchange, where the landlord will sell their current property and then buy something else. We can also offer advice if we th
ink it might be time to sell and liquidate. We take a holistic approach to property management, and we want to be able to answer all these questions for you so you can make a good decision with your rental property.
These are some of the things that a good property management company will do for you. If you have any questions, or you’d like to hear more, please contact us at Chesapeake Property Management.
