First Home Facts

Why You Should Combine Property Mangement With Your Condo Neighbors Who Rent

If you own a condominium that allows you to rent, you may wish to use a property management company to take care of the rental for you. Whether you own one or several rental condominiums in the building, a property management can make your job easier. When it comes to renting a condo, not only do you have to communicate with a renter, you also have to communicate with the condo board or management company. Here are three reasons why you should speak with other landlords in the building and use the same management company for your rentals in the building. 

Easier for the board

A condo board that is willing to allow owners to rent out their units can be hard to find. One reason why condominium buildings allow renters is because it does not cause any current issues for owners nor the board. A professional property management company can make the condo board feel more comfortable with allowing ownership. Finding one property management company that the condo board likes will keep owner-landlords happy and keep the peace between condominium board and the landlords. 

A property manager can keep owners abreast of changes

If you do not live in the condo building that you are renting, it can sometimes be hard to keep up with changes. Sometimes notices may be posted in common areas and information tacked to your door that you may not get to see. Not only will your property management company keep you updated on all of the news with your unit, but they can also forward any communication that may have come from the condo building itself. The property management company may also be able to let you know about any changes in the rental market and the neighborhood. 

They can keep a database of interested renters

It is common for a renter to move out after some time. Renters may need to move to a different part of town, leave for a new job, or get a new place of their own. A property management company that runs many different units in the building can keep an open database of interested renters in the building. When your renter decides to move out, your property management can make a few warm calls to get the unit rented nearly immediately. This will help to keep money in your pocket and make the rental process easier than ever.