A Good Network of Contractors is the Secret to Great Fred Leeds Property Management Services

A good South Bay property management company like Fred Leeds properties knows how to make the best of their contractor relationships. Having a solid group of contractors to work with who are reliable and good at their job is one of the keys to the success of Fred Leeds Property Management.

While every South Bay property management company isn’t expected to know how to handle the gamut of repair and maintenance issues, they are expected to have a contact that can provide a solution. You want to be certain that your tenants are happy and issue-free, so if you want to earn their loyalty and continued business, it’s crucial to get problems solved quickly and efficiently. Having a good network of contractors like we do at Fred Leeds properties will enable you to do that.

At Fred Leeds Property Management, we also know that one of the easiest ways to save money in the long run is to solve issues and fix problems as soon as they arise. For example, if you put off fixing a broken window, unsafe conditions may occur and result in an injury. One leaky pipe in an upstairs apartment can cause an entirely water-damaged dwelling below.

Property Management Red Flags

If you are not working with a property management company like Fred Leeds properties, chances are they may not be up to par. Here are some red flags to look for when working with another South Bay property management company.

High turn-over.
While it’s normal for staff to move on for reasons both personal and professional, if there is a high amount of turnover of either tenants or staff, then it’s definitely time to consider changing to a company like Fred Leeds Property Management. Too many changes in staff indicates problems with the company’s business practices and management techniques. We believe in keeping both our tenants and staff happy so that turnover is minimal.

Non-compliance.
Companies like Fred Leeds Properties make it a point to attend seminars and keep up to date on all changes in laws and other compliance issues that could affect landlords and their property. Make sure that your South Bay property management company does the same—the laws change all the time so it can be very easy to unknowingly fall out of compliance.

Outdated organizational systems
Fred Leeds Property Management ensures that all of our organizational systems are accurate and efficient. There should be strong systems in place for every area of the business, from accounting and tracking rent payments to a database of maintenance requests, vendors, etc. If your property manager is on point in these areas, then your worries will be minimal.

Is it time for you to switch property managers?

We’ve recently had an influx of new customers at Fred Leeds Property Management and have listened thoroughly to their reasons for changing property managers. Here are some red flags to look for that may give you a sign that it’s time to switch to a new South Bay Property Management like Fred Leeds Properties.

Lack of referrals

A good property management company should be expanding its network of referrals every year that it’s in business. If it doesn’t seem like your property manager is doing so, this means that existing tenants and clients aren’t confident enough in their services to make referrals. If this is the case, it may definitely be time to switch to Fred Leeds Properties.

Sporadic maintenance

Regular maintenance and timely repairs keeps the appeal of your property up and attractive to potential tenants, while keeping current tenants happy. Your South Bay property management company should have a comprehensive maintenance checklist and schedule that they adhere to.

Slow response time|

At Fred Leeds Property Management, we make it a point to respond to tenant issues and queries from potential tenants quickly and efficiently. We know that it’s in our client’s best interest to maintain prompt tenant communications and not miss out on new renters.

What Makes a Rental Property Unsafe?

At Fred Leeds properties, we know that it’s our job, as a representative of the landlord, to ensure that a rental property is maintained properly and in safe condition. Yet we know that it can be difficult for landlords or another South Bay property management company to determine what makes a property unsafe. The Fred Leeds Property Management staff is privy to some information on the factors that are considered in deeming a property at risk.

Landlords must be careful of any conditions on the property that creates an unreasonable risk of harm. Once made aware, whether by a tenant, an asset manager like Fred Leeds Property Management or another South Bay property management company, the landlord must repair the condition as soon as possible or they may find themselves liable for any injuries that occur.

Conditions that may pose a risk of harm include holes in floors or sidewalks, broken or cut glass, lacks of handrails along staircases, and no locks for windows in second story apartments where a toddler resides.

An important factor to consider is that the landlord or management company must be made aware of the unsafe condition. This is why it’s so helpful to have a company like Fred Leeds properties managing your rental units. Not only will we monitor the properties ourselves, but will quickly handle the repair of any such conditions that are reported to us. This enables the property owner to avoid the headaches these unsafe conditions can cause if, for example, the landlord is away on a business trip or vacation.

Creative Lease Strategies

When summer ends, a South Bay property management company may find themselves with tenant turnover. Even in some of the most desirable areas, there can be properties that may be difficult to rent. At Fred Leeds Property Management, we strive to keep our vacancy time low, while some property owners employ creative strategies for leasing.

At Fred Leeds Properties, we’ve seen some property owners and competitors use aggressive marketing and incentive offers to move units that are hard to rent. We’ve seen another South Bay property management company and private landlords waive pro-rated rent for a mid-month or early move-in. Since the alternative is to have a vacant property during that entire time, being able to offer this as a bonus to an applicant may offer an advantage.

The staff at Fred Leeds Property Management has also seen landlords offer a reduced security deposit instead of reducing rent. Since most renters worry about all the up-front costs associated with moving, this makes the financial hit more manageable at a time when it counts. These situations are ideal for a company like Fred Leeds properties to manage for landlord.

South Bay Property Management: It’s All About the Amenities

Even as rental markets tighten, Fred Leeds Property Management is witnessing some fierce competition for good tenants. The trend we’ve seen from potential tenants who are looking at Fred Leeds Properties or those managed by another South Bay Property Management company are seeking amenities. Property owners and investors who want to attract a high-income demographic of tenants are starting to increase the amenities at their units.

Some of the common niceties we’ve noticed among the units that we handle at Fred Leeds Property Management include stainless steel appliances and granite counter tops, but now it seems that investors and even other South Bay Property Management companies are seeing the benefits of providing on-site gyms, Jacuzzis, nice communal spaces, as well as housekeeping services, dry cleaning and underground parking. Investors who are willing to make the investment in such upgrades will definitely reap long-term rewards. At Fred Leeds Properties, we understand that amenities translate to low tenant turnover, full building and even waiting lists.

Handling Repairs Like A Pro

Fred Leeds Property Management manages the ins and outs of making repairs to rental properties like no other—that’s what makes us the best South Bay property management company around. While it’s no surprise that managing repairs comes with the territory, many landlords may drop the ball when they receive repair requests from tenants. Sometimes it’s easy to forget the importance of expeditious repairs when it comes to keeping tenants happy. However, at Fred Leeds properties, we make it a priority to handle repairs effectively and efficiently, so that both tenant and landlord are satisfied.

When maintenance issues aren’t handled properly, this affects the quality of tenants the property attracts. Landlords sometimes forget that, no matter what, there may be electrical problems, broken appliances, plumbing leaks, and issues with water heaters, among others. If they are not handled in a timely manner, this can result in bad write-ups or reviews, the inability to attract tenants, and ultimately, tenants’ vacating the properties. This is exactly why having a company like Fred Leeds Property Management manage your rental units is so fundamental. While landlords would rather save their money and collect rent than spend it on repairs, they’re forgetting the big picture and that having an empty unit for several months or experiencing early turnover costs them significantly more than the repairs would.

Another mistake that may come up if you don’t have a company like Fred Leeds properties managing your rentals, is allowing tenants to make their own repairs. While it may seem to save money at the time, it actually can end up costing way more if the tenant makes a mistake or hurts themselves in the process. No one wants a big, nasty lawsuit if that can be avoided. Only a best in the South Bay property management company will eliminate that potential liability and all the ancillary headaches for the property owner at the least amount of expense.

For more information, please visit www.FredLeedsProperties.com.