Property management – essentially – has two distinct sides. First, there is the “reactive” which defines that which is done and/or delivered “afterwards”. Then, there is the “proactive”, which defines that which is done and/or delivered “before”.
In the case of property management, the “before” typically occurs before a potential resident arrives at your agency or at the structure that you wish to rent. The “proactive” involves all of the steps and measures that we feel that it will take to appeal to the wants and the needs of the individuals that we are seeking to attract to our properties. In short, it is sort of “setting the actual stage” for that which you hope and want to come about – in terms of managing your property.
Proactive service is all about action. Proactive property management consists of taking certain actions in order to reap certain reactions AND taking certain actions in order to avoid certain reactions. Traditional roles in property management have – ultimately – been reactive, not proactive. This mostly stems from what many managers refer to as the “daily grind”; that is, complaints from residents, maintenance issues, structure problems, unexpected situations that result in necessary repairs, chasing down renters for the monies owed, and similar challenges. While reactive property management is – on the most part – considered to be the “norm”, it results in a lot of negative issues. Examples include the following:
- Increased stress levels and high amounts of frustration among those that work with you in your property management business.
- Overlooking the core issues that are responsible for problems being experienced within the property management business that you are part of.
- Consistently feeling as if you are “putting fires out” when it comes to your tenants and the structures in which they reside.
In order to put proactive property management into place, you must prepare ahead of time for those situations and events that could result in a reactive response. The following outlines a few proactive management responses that may be put into place:
- In order to ensure that your tenants will pay the monies owed on their residence, you could run credit checks and consult background checks with their previous landlords and/or property managers.
- To prevent your property from being damaged and/or an increase in criminal activity among your tenants, you could run criminal background checks to determine if they have been in legal trouble prior to applying for residency with you.
- To prevent a tenant from pursuing legal assistance with a complaint, a needed repair, or another issue, you could create a rental agreement that outlines a grievance procedure that tenants may take when they have an issue, as well as an outline of the steps that you will take in order to resolve the issue at hand.
Proactive property management is definitely the way to go. Reactive property management could result in many complications – legally and financially. To learn more about proactive measures that you may take and other relevant property management tips, visit our blog today at: http://rentmedenver.com/property-management-tips/