This series gives you the real scoop on what you’re likely to encounter while managing your own residential rental property.
#1 You’re going to get more calls than you expect
A typical owner believes they’ll only get calls from tenants when major events happen. The air conditioning is out. A tree fell on the house. Wrong. You’ll get many more calls than you anticipated. We field calls every day from tenants asking a wide range of questions . “My cable is out, how do I get it fixed?” “I don’t have water,” complained one tenant angrily. “Did you call the water company?” we asked. “No,” was the reply. When we suggested they call them, the tenant learned they were working on water lines in her area. Sometimes tenants believe you’re the home owner association representative. “Why isn’t the complex gate working?” ,“Why isn’t the pool open yet? “, “When is the HOA going to mow my lawn?” Taking these calls can be time consuming and normally come at inopportune moments like when you’re in an important work meeting, on a family vacation or during the critical 4th quarter of a playoff game.
A property management company fields those calls and only contacts owners when repairs must be approved because they exceed a previously agreed-upon dollar amount. Snap! Our owners’ worries are over and they have their free time back.