While rental property is often refereed to as passive income, it’s not simply a “set it and forget it” type of business where you can expect the money to just come rolling it. There are many tasks involved in terms of making the business a successful financial venture. Property Management is a task that entails Managing tenants, managing the property and Managing Finances.
The three strategies are core business which requires excellent skills. This is where a good the Property Management Department plays a key role.
At FAPCL GROUP limited the main objective of our property management department is to ease the burden from our clients ( landlords ) from all sectors which include Residential, commercial, retail and Hospitality.
Our main Rental Management tips include:-
Managing Tenants;
Managing tenants requires some personal skills especially when it comes to handling tenant complaints, learning what the common complaints are and how to proactive in address them will boost your tenant retention rate. Follow up with tenant after you take care of the problem shows you care about their comfort and well- being.
Landlord’s number one concern with tenant is non-payment of rent. The main role of the Management department is to ensure that they take over the burden of the landlord on ensuring that all the procedures which adheres to the landlord tenant law are followed to collect full the rental income.
Property Management:
The property owner has a legal responsibility to ensure the property is in a safe and habitable condition for the tenants.
The property Management department plays a key role in ensuring that all the facility management of the building is up to per. This is achieved by ensuring all the maintenance issues are sorted out on time. One of the risk of being a Landlord is dealing with larger maintenance issues that can cost tens of thousands of shillings and may not be covered by insurance.
Why is the Role of Property Manager very Important?.
- Rental Property Owner may need to rely on third party to handle the daily operations of rental investments for the sore reason they might not have time to commit to manging the property, or they might not want to be available to deal with emergencies 24 hours a day.
- The Property Management professionals are more helpful as they cover more areas as finding the right investment property and understand Landlord- tenant laws
The FAPCL GROUP the Property Management Department provides all the above services and many more and ensure that the venture has good return on investment.
So are you in the market for a good property manager? Contact us today on 0722 524 383.