If you are a landlord, then you are aware that there is a fine line that you do not want to cross regarding your relationship with your residents. The security of your business and your private and professional life depends on landlord anonymity at times. However, with the position of a landlord being heavily involved in the daily management and success of your property, you may want to consider the benefits employing a management team can bring.
Maintain Distance
As a landlord, it’s easy to form relationships with your residents. Appliances need fixing, the property needs tending, you could be seeing a resident every month or so depending on the situation. When you are constantly having to visit someone renting your property, a friendship could potentially form. Suddenly you realize your resident has your personal phone number and maybe even knows where you live. Having that kind of information can be harmless until a resident becomes bitter over an issue with the property. The risk in this is having too close of a relationship with your tenant and not wanting to be the “bad guy” when something goes wrong, the tenant is short on rent, etc. You end up in a situation you never wanted to be in just from being an attentive landlord.
Being a landlord, you could easily develop a personal relationship with your residents. You need to fix appliances, tend to the property and so depending on the situation, you could be seeing a resident every month or so. When you are always having to see someone who is renting your property, a personal relationship, even a friendship could potentially form. Soon, you realize, your resident has your personal phone number and knows your home address. Nothing wrong with that until your resident becomes bitter over an “unresolved” issue.
How We Can Help
Your residents could also attempt to exploit you with your personal information. By having a property management team, you can stay away from these issues totally. We handle everything from background verifications, to handling broken rules or lease agreements, to dealing with rent that is past due.
We are up to date on the current local and federal laws ensuring that all decisions we make are legal. This system eliminates any conflict between you and your residents and protects things that are not related to this part of your business.
Avoid Conflict of Interest
Another reason you may want to consider looking to property management services for your investment rental property is if you are invested in multiple businesses. Being in politics, owning a restaurant, or any kind of public career can cause conflict with current or potential residents. If they recognize your name from elsewhere then they may already have a preconceived notion of the type of person you are. Whether it is good, or misinterpreted, having a property management team behind you eliminates the risk entirely, and protects your identity.
Having that protection comes in handy when a resident has to be evicted from a property and wants to take it out on the owner, especially if you run another business. You don’t want a resident leaving a negative review of your business online because of an issue with a rental property. Why risk having your reputation tarnished if you don’t have to?
There are no regrets in keeping your business anonymous and secure. Would you like to know more? Schedule an appointment with Real Property Management Brevard for a free assessment of your property. For more information, contact us online or call us at 321-610-8022.