You prepared, planned and interviewed, but your new tenants are not working out the way you hoped they would. When you're facing tenant problems, your property management software can serve as an unexpected ally. This software not only collects data, but also helps you identify trends or send out information to prevent problems with tenants in the first place.
An Ounce of Prevention
A best practice for maintaining positive relationships with your tenants is to choose the right individuals to live in your properties. Property management software prompts you to collect certain information from prospects to make sure they are an appropriate fit. Moneywise suggests researching a tenant's background and rental history in depth before they sign a lease. Carefully review information about your tenants' references and credit reports, as it contains valuable insights and can alert you of potential concerns.
[caption id="" align="aligncenter" width="674"] Keep track of data on your tenants, and you'll be able to access it when you need it.[/caption]
Keep Track of Your Agreements
When a problem arises with a tenant, it is helpful to look back at agreements you've made with them to see whether there are grounds for a warning or an eviction. For example, the real estate blog Bigger Pockets says you should look to your lease for clauses about criminal and drug activity being grounds for automatic termination of the lease right. A property management system will help you keep these on file so you'll have them at your fingertips for reference.
Assisting With Nonpayment
One of the major issues property managers experience is dealing with nonpayments and late payments. If a tenant is late with the rent once an exception may be made, but a tenant who is continually behind in payments negatively impacts your cash flow. The right property management software solution will help you facilitate easy payments by setting up an online portal where a tenant payment can be submitted online any time. Automated reminders alert your tenants when they need to pay and let them know if they've forgotten to make a payment. The system also allows you to track those who are consistently late with the rent, flagging problems before they become too large.
"I like the fact that it integrates everything together." - Jim Stevens / Stevens Realty
Assessing Maintenance Issues
When a tenant has chronic maintenance issues that show up on routine maintenance visits, this is an area of concern and should be documented. This may mean a particular tenant is harder on the house they are renting than other tenants, and their actions could cause large-scale harm to your properties. Property management software helps you document maintenance issues as they occur so you can identify potential problems.
In some cases, behavioral complaints and other incidents should lead to eviction. If the tenant is throwing loud parties every weekend, their behavior is disruptive and should be addressed. A great property management system allows you to track these incidents as they occur, along with related communication with tenants. If you need to take action against a tenant or pursue eviction, all interactions will be documented in your system for reference.
Tenant issues are challenging, but property management software can help. Propertyware allows property management professionals to better prevent and respond to tenant problems. Sign up for a free trial today.