There are numerous risks with renting out units, but we have the solutions for reducing these rental property management risks. As a property management company, McDougal takes pride in serving our clients needs in all aspects.
We want to assist you with ways you can reduce risks in rental property management too. Keep reading to discover four strategies you can use to curb liabilities and prevent risks.
Having a tenant screening process will grow your portfolio tremendously. It can allow you to accept any rental applications you receive in real-time, screen prospective tenants, and process all fees through an online portal.
Most tenant screening software is fully customizable and integrated to keep track of all of your properties. Additionally, it will also help with any current laws regarding the leasing process.
Paper documents are becoming outdated with the technology we have today. Avoid using bulky and expensive paper, and start using an electronic recording. Software such as “DocuSign” is great for keeping track of records and providing consistency. An electronic recording will reduce risks of losing paperwork, security issues, and time.
Stay on top of Phone Calls
Every time you miss a phone call, you are losing revenue. Make it a priority to answer all phone calls from tenants. If you are someone that always seems to miss calls, you may want to consider having a dedicated contact center to answer any calls from your tenants.
Having a 24-hour live agent work for you will reduce risks of missing important information. Plus, this will help you to focus more on growing your business.
Providing your tenants with the top of the line maintenance is crucial. Property management is all about catering to your tenant’s needs and having good communication. Setting up maintenance software, such as a mobile app, is the way to go.
Top of the line maintenance will provide your tenants with faster services and real-time communication.