Deciding where to rent is a big choice for tenants. There are many things to consider, including the location, price, and amenities of an apartment or rental home, but many people often forget about another important consideration: the landlord.
Renting through a property management company can make a big difference in your experience as a tenant.
Instead of having a potentially inexperienced or unresponsive landlord, it puts you in contact with a professional management team and all of their expertise and connections.
Using a property management company can lead to a smooth and less stressful rental experience.
Here are seven advantages to a property management company as a tenant:
One of the biggest benefits of using a property management company is simply experience.
Anyone can be a landlord, even if they’ve never done it before, but good property management companies in Northern Colorado have years of experience and know the ins and outs of renting. With that knowledge comes many benefits that can make for a smoother tenant experience.
Property management companies know the area and market, so they can tailor their offer to match what renters are looking for. They also have a better understanding of how to take care of tenants and what it takes to create happy tenants.
An experienced property manager also understands the more complicated issues around renting, including potential legal and financial specifics, and knows how to navigate tricky situations to provide tenants the best possible solutions.
Instead of dealing with a landlord who is unsure about processes or procedures, property management companies are experienced and know just what to do to help their tenants.
When you go through a property management system, you know you are using a reliable company and will have an honest and trustworthy landlord. As much as you want to assume the best about individual landlords, there is always a chance that the person could be flaky or dishonest.
An established property management company likely has references and reviews online, so you can know exactly what you are getting into and be confident in your decision to use an honest and professional company instead of a random person.
All of these benefits come at no extra cost to renters, which makes using a property management company an easy decision.
More Rental Options
When you go through a property management company, you have access to their entire network of rental properties. Landlords often only rent out one or a handful of units, but property management companies typically have dozens of units in different areas of town and different types, including rental houses, apartments, or condos.
The property management company also likely has properties at different price points, so you can find a rental property within your budget. The extensive catalog of rental properties provides numerous living options for tenants.
If one unit is full when you try to rent, the property management company can potentially introduce you to another unit, instead of landlords making you start the entire search from the beginning.
Having access to more rental options can also help when you are ready to move from a property management company’s unit.
If you want to live in a different type of building or a different part of town, the property management company can likely show you some options to help speed up the moving and relocation process.
Unresponsive landlords are the biggest complaint of renters.
While landlords often have other jobs and responsibilities and rent out properties on the side, property management companies are solely dedicated to managing properties. That means that they have a dedicated professional staff, as opposed to a single landlord, and the staff is available around the clock to quickly respond to issues and questions.
Instead of waiting for a landlord to have a moment in their day to respond to your call or text, tenants can get a much quicker response from a property management company who has people working throughout day to help them.
Most property management companies also have physical offices that tenants can visit in person, which gives them another option to contact the company.
With the guarantee that someone is always in the office during working hours, you can know your call or email will always be answered quickly.
Property management companies also have websites where you can easily access tenant information, as well as a tenant portal to manage your rent, access information about the property, and submit maintenance requests.
Most individual landlords don’t have an online presence, which makes it difficult to find information or contact them digitally.
Because property management companies tend to have more experience than solo landlords, they are much more likely to have established processes.
Having clear expectations and policies not only speeds up the rental process and gets you into a unit faster, but it also provides a better rental experience because you know exactly what to expect.
Property management companies tend to have set lease agreements, policies, and procedures for every property they manage. They have set policies about how to deal with things like renting to pet owners, disputes between roommates, and how to sort through complicated legal and financial issues.
Individual landlords typically don’t have the same established processes, which means they have to research and decide in the moment. That inexperience can lead to extra time and inconsistent policies and procedures, which can be slow and frustrating for tenants.
Landlords and property management companies both have to deal with evictions when the situation arises. This can be difficult for tenants, but property management companies have expertise with tenant rights and can handle the situation efficiently and legally.
If you are at risk for eviction, a property management company will know how to best handle the situation and protect your rights, while an individual landlord may be unfamiliar with what to do and how to avoid evictions.
Fast Response to Maintenance Requests
Another common complaint of renters is when issues with the unit are ignored or slow to be repaired. Property management companies tend to be much faster to respond to maintenance requests because they have a network of repair technicians.
In many cases, property management companies will employ a handyman to take care of repairs quickly, instead of a solo landlord who likely has to find someone to make the repair and then wait for an opening in their schedule.
Professional property managers are also much more likely to have established processes of reporting maintenance issues, such as through an online system or a dedicated staff member to manage repair requests.
With that procedure in place, tenants know exactly how to report an issue to get a quick response, when they might have to call or text a landlord and hope the message gets through.
Property management companies simply have the resources and systems in place to quickly solve many repair issues.
Efficient Rent Collection
With experience comes the ability to professionally collect rent payments, which typically means more options for tenants. Individual landlords may require tenants to mail them a check for rent every month, which can be time-consuming.
Many property management companies use professional rent collection systems, which streamline the process and make it easier for tenants. With these systems, tenants can often pay rent digitally and set up automatic payments for an easier transaction they don’t have to think about each month.
An efficient rent collection system can also automatically add late fees, utilities, rent concessions, and other applicable charges so tenants know exactly how much to pay.
Extensive Tenant Screening Process
One of the most difficult parts of the rental process for landlords is finding reliable, quality tenants. They often have to research potential renters with limited resources and hope for the best when they rent a unit.
That can add uncertainty to the rental process because there isn’t a reliable system to know if you will be able to get an apartment.
On the flip side, property management companies tend to have many more resources to screen and research potential tenants. This doesn’t mean a breach in privacy, but rather a consistent experience with reliable results.
If you have a decent credit score and employment history, your chances of getting approved by a property management company are much more dependable than the uncertainty of an individual landlord.
A tenant screening process also gives you a better chance of having good neighbors. Property management companies typically screen for an individual’s background and credit status.
These seven benefits of using a property management company as a tenant show the many advantages that come from using a professional company.
When it’s time to find a new place to live, going through a property management company can create a smooth and more enjoyable process for tenants.