With modern technology, there are various ways of communicating today. You can use telephone, text, email and paper. You should expect your property management company to communicate with you on a regular basis, and you also want to make sure they are willing to communicate with you in whatever way you are most comfortable.
There is no single best way to communicate. What works for you should come first. We have found that preferred methods of communication are often generational and sometimes they depend on how a person communicates through their own work and business. You should have a property management company that’s willing to deliver information in a variety of different ways.
When you have an investment property, a lot of communication has to occur. You need to receive a monthly operating statement that will detail everything going on at your property. There should be a precise and accurate accounting of expenses and income. You should also receive copies of any bills or invoices associated with your rental unit.
If there is ever a problem or an issue with your tenant, the property management company needs to document it thoroughly. At Property Management Systems, we document a lot and these days we do it through our online software system. Some people still do it by writing everything out and others might make a video recording or a memo recording. It really doesn’t matter how it’s done as long as all of the details are documented. This is the number one thing that will save you in any situation that ever develops into a court case.
Discuss your preferred methods of communication with your property management company, and make sure they are willing to provide all the information and documentation you need in the format that you wish to receive it.
If you have any questions about communication or anything else pertaining to property management, please visit our Property Management Systems website, and we’d be happy to talk to you.