Im curious how some of your property mgmt companies work in regards to communication and action when tenant issues arise. Particularly when tenants monthly rent is late and/or not paid at all. For example, are you immediately notified when rent it late or not until rent is not still paid after the end of the month? Basically just in general what actions and when are they taken by your prop mgmt company when rent is not being paid?
How and when do YOU want to be communicated with? This may be the more important question to bring up with your manager. Do you need to be informed of every single thing with the property? Or, do you just want the check .... and call me if there are any real issues?
We have owners under management on both sides of the spectrum. Some need to be involved in all aspects from tenant selection, to maintenance, to renewals, to move outs. Others do not want to be contacted, or in some cases, can not be contacted....which is why they hire a property manager.
Have that discussion with your property manager on what YOU want so they know your expectations and your relationship with them will be much better off.
Good luck out there!
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