Block property management is an incredibly important part of the real estate sector. It can make or break a business, or a tenancy! But not all block property management companies are the same. How can you tell if a block property management company is bad or good?
This article will give you some insight into how to find out whether or not a managing agent is qualified to do its job efficiently and who might be right for your apartment block.
Signs of a Great Block Property Management Company
There are countless block property managers out there, though. So how can you tell which ones are better than others? Here are several signs of good quality block property management companies, so you know who to hire.
- Good Communication: A great block property management company keeps tenants informed of any developments at all times. Additionally, they will touch base with their tenants regularly to ensure that everything is still OK.
- Reputable: What makes a reputable company? It’s one that doesn’t just focus on getting the job done as quickly as possible, but instead, it focuses on doing the job right. They are aware of their errors and they are willing to do what it takes to correct them for you!
- Guidance: A great managing agent will be happy to set up a meeting with you, both before you sign your tenancy agreement and throughout the term of your tenancy. This is so that they can check in with you and offer guidance on various matters, for instance, difficult neighbors or tenancy law.
- Understands Tenancy Laws: There is a big difference between a managing agent that just knows the basics of tenancy laws and one that has in-depth knowledge. This in-depth knowledge is essential to the proper management of your property.
- Efficient communication: Consistently, good block property managers are timely with their responses. They will communicate clearly through email, text messages and phone calls.
- Open to new technologies: A great block property manager should be open to the idea of using new technology or software, for instance, they can use cloud-based solutions to make their operations run more easily.
You Might Like: The 7 Key Skills That All Block Property Managers Need
How Can You Tell If a Block Property Management Company is Bad?
The Block Property Management Company Does Not Maintain Your Block Efficiently
If a block property management company is doing its job effectively, this means maintaining your properties in a clean and safe condition. That means the managing agent is doing regular inspections of your block, to make sure everything there runs smoothly. This includes not just the buildings themselves, but also the grounds surrounding them.
The Block Property Management Company Does Not Listen to Its Tenants
If you are a tenant, what would your ideal block property management company look like? Would it listen to your complaints and help to resolve issues with tenants in the building? If so, this is another sign of a great managing agent. On the other hand, a bad block property management company is unlikely to take those concerns seriously.
The Block Property Management Company Does Not Take Care of Its Tenants’ and Landlords’ Needs
When you ask for maintenance work on your unit, how quickly does it get done? A good block property management company will deal with that issue promptly. A poor managing agent will drag its feet and not take care of the problem in a timely fashion, if at all.
If you are a landlord, what are your priorities? Is it ensuring there are no safety hazards in the unit for your tenant to have to deal with every day? A good block property management company will be able to work with you on that issue.
The Block Property Management Company Has Poor Tenant Retention Rates
If the block property management company is not doing a good job of taking care of its properties and tenants, this will eventually impact the company’s bottom line. That means that it is going to have difficulty with tenant retention rates.
The Block Property Management Company Does Not Communicate Efficiently With Its Tenants
Do your block property management company’s tenants know when inspections are happening? Do they keep everyone informed about any repairs that need to be done? When you ask the company for important information, do they give it to you in a timely fashion? If not, this is another sign of how poor the quality of their service can be.
If your block property management company has been slow to respond to requests for repairs, bad at general communication or they have failed to get repairs completed in a timely manner, it could be time to look elsewhere.
Your Block Property Management Company is Charging Excessive Fees or They Are Not Upfront About Their Fees
If you feel that you are being charged excessive fees, it could be something worth looking into further. How much does your block property management company charge you to rent out your unit? What kinds of fees are they charging you? If you think the block property management service charges are significantly more than comparable properties, this may be a good indication that you need to find another managing agent.
Another issue that you may want to investigate is whether the block management company is being honest about its fees. Does their fee information show all of the relevant information you need to know? How can you access more detailed information? Is it accurate? These are good questions to consider.
Your Block Property Management Company Ended Your Lease Without Good Reason
If your lease was ended by the block property management company without good reason, it could be time to complain. Looking into your rights as a block tenant is a good place to start. If the company did not have a good reason for ending your lease, you might be able to find legal recourse.
Your Block Property Management Company is Not Upholding Their Other Responsibilities
Having an understanding of the rights, responsibilities and obligations of your block management company is key to telling if a company is doing its job correctly.
The following outline of key responsibilities can help you determine whether or not your company is acting as it should. Since these are such important areas of managing your property, it only makes sense that you should know how your company is handling them. The key responsibilities a block property management company should uphold include:
- Assigning the Lease
- Maintaining Your Unit and Common Areas
- Providing Information about Opening & Closing Costs, Security Deposits and Rents
- Handling Maintenance and Health & Safety Issues
- Handing Over Keys to New Tenants When Units Become Available
- Handling Rent Payments
- Arranging for Refunds When a Tenant Moves Out Early or is Evicted
- Notifying You of Visits from Utility Companies like the Power Company, Water Company or Waste Removal Services
When Things Go Wrong: What to Do About a Poor Block Property Management Company
If there is an issue with your block property management company that they are not able or willing to fix, you will need to explore other options for finding help.
The first step to take if you find yourself unhappy with your block property management company is to talk to them about it. Be clear about why you are dissatisfied and what you would like done. If they cannot resolve the issue, consider trying another method of contact, such as a written complaint or speaking to someone else in the company. If you are still having problems after this, you may need to hire a block property management company that will be more willing to work with you.
If you live in an apartment building that is managed by a block manager, there are ways for you and your neighbors to make complaints about the management company and attempt to force them into compliance. Block tenants have legal rights and these cover much of what we have been talking about here.
You may need to hire a new block property manager if the current one continues to do a poor job after attempting to resolve it.
Related Reading: How To Make a Complaint About Your Block Property Management Company
Looking For an Expert Block Management Company?
At Scanlans Property Management, we ensure that our clients get the best possible block management experience while meeting all their specific needs.
Our Residential Block Management Services have gained a reputation for being able to get the job done without any of our clients having to lift a finger. We can ensure that we will get your block managed and maintained so that it is up to current building codes while saving you the time and effort of doing it yourself.
If you want more details on our services or would like to get in touch with us, be sure to contact Scanlan’s Property Management today. We are more than happy to help you meet your block property management goals and needs.