As a Nashville investor, you need to work with a property management company that makes protecting your investment a priority.
What does protecting your property entail?
We’re talking about that today.
Placing Better Tenants
are an important part of protecting your home. When you have a good tenant in place, you can count on reliable on-time rental payments, and you can also trust that the person living in your investment home will take good care of it. You don’t want a tenant who doesn’t respect your property and who leaves behind damage from neglect, abuse, or misuse.High quality tenants
Property managers know what to look for when we’re screening tenants, and more importantly – we know what to avoid. The red flags are easy to spot by property managers because we screen tenants every day. We’ve heard every story and we know every excuse. With strict, documented standards that are applied to every occupant, you can be assured that your property is protected with the placement of an excellent tenant.
Responding Quickly to Maintenance Needs
Emergency maintenance situations are bound to happen once in a while, and every property manager will respond immediately to the problem. At least we hope so.
But, what about routine maintenance issues? Those are often just as important, and you should make sure your property managers are responsive and timely when taking care of even minor maintenance concerns. We have never seen a repair problem get easier or cheaper when it’s left for weeks or months. To protect the condition of your property and preserve the value of your asset, you need a property management team that will respond right away, even if the problem is a garbage disposal that’s stuck or a window screen that’s torn.
Responding right away to maintenance issues also keeps your great tenants in place. Good tenant retention should be part of any property protection plan.
Watching the Laws and Regulations
You need a management company that understands state, local, and federal laws that pertain to rental housing and landlords. If you violate a fair housing law – even unintentionally – you will face extreme penalties and fines that may be hard to recover from. Tennessee landlord and tenant laws include regulations on security deposits, disclosures that must be provided in the lease agreement, and timelines for when and how you can file for eviction.
Legal mistakes are easy to make. A good Nashville property management company knows the laws and stays up to date on the changes so you’re not at risk for facing a tenant dispute or claim.
Conducting Regular Inspections
Effectively protecting your property means inspecting it several times throughout a lease period. You want a property manager who does a thorough inspection before tenants move in, to document the condition of your home. You also need a thorough move-out inspection so you can decide whether you will withhold anything from the security deposit. And, you need at least one inspection during the course of a lease, to look for unreported maintenance issues and to make sure you tenant is following the terms of the lease. Omni’s maintenance staff and vendors are trained to complete a general property inspection when onsite; so we provide an additional built-in mechanism there.
These are just a few of the ways that a professional Nashville property management team can protect your investment property. For more information, please don’t hesitate to contact us at Omni, Realtors and Property Management.