I’m not talking a Harvard or Yale degree, but what I am questioning is how well informed is your property manager. Whether you’re an owner or a tenant, dealing with an uneducated property manager can be frustrating.
Managing a property is more than just collecting rent; it’s about understanding Federal, State and Local laws and ordinances that affect every facet of a property and the tenant. Both parties have rights and it’s up to the property manager to handle each situation equitably under the law.
If your property manager does not understand the laws, rules and regulations that affect tenants and/or landlords, then there could be an open opportunity for some very heavy duty disputes and possible legal action. A professional property manager is one who takes the time to train themselves and stay atop of the constantly changing laws and regulations. They surround themselves with other professionals to keep sharp.
As an owner looking for a property management, don’t just look for how cheap someone can manage your property, because in the end you will get what you pay for. Inquire as to the type of training they do, what associations are they a part of. If your property manager is a member of NARPM, National Association of Real Property Managers, then you have a good candidate for managing your property(ies).
NARPM has been around for many years and the quality of their trainings is of the highest caliber. Members are encouraged to seek out professional designations to improve their level of education in the field of property management.
To ensure that tenants and landlords are being serviced by a professional make sure your property manager is educated.