Columbia property management is a growing field, and many people have opted to throw their lot in in the hopes of making a successful career. However, there’s a few easy mistakes we see over and over again. Here’s the top ones to avoid.
Property management in Columbia SC is about knowing your audience.
Neighbourhoods have character, as do your renters. A big part of successful Columbia property management is knowing who will fit with what neighbourhoods. Know what the facilities and cafes are in each neighbourhood, how close to jobs or schools it is, and what areas are geared around the needs of what demographics of people. This in turn will help you establish the needs, wants and price range of the people who would be interested in each niche. Continue reading this for more info.
Screen your tenants before they sign the lease.
If you fail to screen your tenants, you won’t make it in Columbia SC property management. It’s that simple. High turnover rate, destruction of facilities or failure to pay all costs you money. You need to be looking into credit histories, references and more if you want to be a success.
Respond to your tenants timeously and before complaints
Making a success of property management in Columbia SC could be as simple as responding swiftly to your tenants needs. Have a go to list of contractors who are speedy and get the job done that you trust. Not only will this keep your tenants happy and willing to stay with you, but it avoids you having to take just any worker in a crisis, and gives you the luxury of choosing a good contractor when you need them. Make sure you look into reputation and past work when choosing your list of contractors.
Inconsistency is a killer.
Ward off the problems that may occur by indulging in regular maintenance and tenant management. This way you will be able to encounter problems before they grow, and will make yourself successful at Columbia property management. Have steps in place for introducing new tenants, get your credit and reference checks done, and be consistent in your application to get the results you and your tenants want.
Learn from your mistakes.
Perhaps the number one killer in the field of Columbia property management is not using the data you are handed. You should know what properties go well, what trends you see among your tenants and more. Market trends will be important too. Successful property managers will spend up to 2 hours a day researching and collating the data they gather to know exactly who and what they need to work with to make their business a success.
Being a property manager in Columbia SC is a matter of diligent work and a good persona dealing with people. If you manage to strike the right balance of knowledge and approachability, you’re sure to make a success of Columbia property management with happy tenants and filled leases.