Being a landlord can be either an exciting role or a daunting task for others. Hiring a property manager in Jacksonville may be the answer to daily headaches or it may cause more if you don’t hire the right person. The right property manager will have a long list of things they will do to protect your investment. If your property manager doesn’t do these things, it’s time to interview someone else!
Your property manager should always have a criteria that they go by when qualifying tenants. Our tenants must make three times the monthly rent, have a credit score of 620 or higher, and no evictions in the last three years. It may seem like a tough criteria but the worst thing you can do is rent to bad and unqualified tenants. It may take longer to rent out your property but the cost of evicting someone is not cheap!
Inspections of the property
Part of a property managers job is to inspect your property to document any repairs that are needed before someone moves in. They also are responsible for doing a move out inspection to see if any repairs are required after a tenant leaves. They should have a full checklist of everything they look for when doing these inspections. Some items on the list should be air filters, appliances working, a/c at a proper temperature etc.
This is a tough one but someone has to do it! Your property manager should know how to legally file evictions and follow through if needed. In Jacksonville, there is a timeline on when and how things have to be filed through the courts to legally get someone out of your property. Your property manager should be able to tell you all of the steps they take to ensure everything is done correctly.
I can promise that you don’t want to be the person getting a phone call on Christmas day about a plumbing issue. Property managers will field these calls and get the appropriate contractor out to fix the problem. You can set up with your manager that you don’t want to be bothered with repairs under $400 or whatever number you come up with. This will allow for them to make quick decisions and keep a happy tenant.
Keeping track of all funds
This is probably the most important to someone who is investing in a property manager to make sure their funds are taken care of. A property manager should have an escrow account and keep track of all payments and repair bills that happen at your properties. They should provide you with a monthly statement to show your income and if any small repairs were required. You should always get recommendations and call references when picking a property manager.
So when does someone actually need to hire a property manager in Jacksonville?
Well, whenever you don’t feel like dealing with tenant and getting your time back to do other things is the right time. We also recommend anyone who has multiple properties or lives out of state. It may look good on the surface to save money but having it done the right way can save you tons of money down the line.
If you are thinking about using a property manager, call us and we’ll give you names and numbers of companies we trust with our properties!