West Palm Beach Property Management Issues
Posted: June 24th, 2015
West Palm Beach Property Management Issues
Why should I hire a West Palm Beach property manager? Home managers offer peace of mind when it comes to dealing with the sometimes daunting tasks of managing your rental property. Can you manage your own rental property? Yes of course you can, but only if you are local and resourceful enough to be prepared to manage every facet of the industry.
Here are a few issues/pitfalls that you will have to deal with when managing your own property.
Tenant screening- We use a 7 step tenant screening process which ensures that we are finding you the most qualified tenant for your property. Tenant screening is the most important aspect of property management. Our process enables us to seamlessly check possible tenants with the following criteria: National Criminal, National
Eviction Search, Credit, Employment Verification, Previous Landlord Verification, Palm Beach County Eviction Search and Palm Beach County Civil Search.
Rent Collection- Rent can be collected one of several ways including:
Online Rent Collection- Our tenants are given accounts and are able to pay rent online at all times.
Office- Our office is centrally located and able to collect rent Monday through Friday from 9-5
Knocking on Doors- Not the most efficient way to get rent but if the tenant refuses to pay then we hit the streets and try to collect rent.
Emergency Hotline- All tenants are given a phone number to call in case of housing emergencies.
Maintenance- The worst call a landlord can get is that of a frantic tenant with no AC. We understand that these calls come in and we have various sub contractors and vendors that we use on a daily basis to handle these calls with no mark up from our company
Security Deposit / Escrow Accounting- How do you plan on holding security deposits? Did you know you have to hold security deposits in a separate non interest bearing Florida account.
Security Deposit Return- The most heavily litigated and contested tenant issue is the return of the security deposit. State statutes have strict rules and compliance issues that must be adhered to. If you are planning on returning the full security deposit you must do so with 15 days. If you plan on withholding a portion for damages to your property you must notify the tenant via certified mail within 30 days of your intention. The tenant will then have 15 days to contest if necessary. We recommend taking a lot of pictures of the damages and getting repair estimates in a timely fashion so you don't run a foul of Florida's Landlord Tenant laws.
HOA Compliance- Everyone loves a good HOA, however some Florida HOA’s are tough to deal with and HOA’s sometimes like to focus their power over tenant occupied units. Because of this tenants must be on notice that they must comply with all HOA rules and regulations so that the property owners don’t get fined.
Clearly there are many more issues to deal with when managing a property and we are always staying up to date with changing laws and trends to keep our homeowners happy and informed. Our company manages single family and multi family homes in West Palm Beach, Delray Beach, Boca Raton, Boynton Beach, Wellington and Lake Worth. For a quick consultation on our property management services and what we could rent your home for call us at 561.358.6755.