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Our Responsibilities As A Property Management Company

By Liam O'Boyle

A key component of your relationship with a property management company is trust. You need to be confident that your property management company will operate and maintain your property in a responsible and professional manner. We’ve outlined the responsibilities of a property management company to help you decide whether it is the right approach for your rental property.

Managing Tenants

Finding occupants for your property is one of the main responsibilities of a property management company. To do this, we will advertise your property in the most positive manner possible, and complete sufficient background and reference checks for new tenants. However, getting your property occupied is just the beginning of our responsibilities. Once tenants have moved in, it is our responsibility to ensure rent is paid promptly, respond to any requests or enquiries made by the tenants, and ensure that the terms of the tenancy are met. In the unlikely event that evictions are required, it is our responsibility to manage this process.

Financial Responsibilities

As well as simply collecting rent payments, it is your property management company’s responsibility to set rents at an appropriate level, and to monitor them for necessary changes. This requires an understanding of the local rental market and your financial requirements. As a responsible property management company, we hold your rental funds in a trust account that is regularly audited. We also implement systems to make sure any rent in arrears is followed up promptly, and take on the responsibility for initiating debt recovery procedures if it is ever necessary.

Maintenance and Facility Management

When renting out your property, it is important for you to know that it will be well maintained and the condition will not deteriorate over and above fair wear and tear. As a property management company, we take responsibility for ensuring that the condition of your property is maintained. To do this, we complete regular property inspections, and arrange maintenance services where necessary, such as electrical, plumbing, building or landscaping requirements. We also ensure that maintenance services are completed in a timely manner and to an appropriate level.

Administration and Reporting

Administration is a vital part of responsible property management. We keep a full record of all financial transactions involving your property, including rent payments and expenses. It is also our responsibility to keep a record of interactions with your tenants. Your property management company should also provide you with regular reports on your property. We provide reports from the regular inspections, with photos where possible, and report on any issues that require maintenance work to be completed.

To be confident that your property is managed by a company that takes its responsibilities to you seriously, contact McPherson Property Management in Christchurch. We offer a wide range of benefits to property owners that require management services, so contact us for your free rental appraisal.

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