Many of the issues and difficulties property managers may face when dealing with tenants in an apartment complex environment, could be avoided or resolved more easily by implementing a workable leasing, rent collection, maintenance and eviction system.
This system must be in accordance with local tenant and landlord regulations and by working within the parameters of rules and regulations set forth in the leasing agreement and in accordance with local ordinances and legalities, the property manager has the guidance and answers needed to address every issue.
Collecting rent, dealing with emergencies, and eviction procedures, are among the primary challenges of apartment complex property management.
Additionally, the screening process, which is designed to differentiate between a “good” prospective tenant, and one who may be less desirable, is far from infallible for many reasons.
For example, a tenant with a good credit history, and eligible for home ownership may be a short-term renter, which is not an ideal situation for the landlord. On the positive side, this renter will certainly pay rent promptly to avoid any damage to his/her credit rating.
A prospective tenant with only fair credit but with a good past history of paying rent on time, would most likely offer better prospects as a long-term renter, since this is a tenant who would not normally qualify for a home loan.
If the property manager has been directed by the landlord to allow tenants with pets, the lease may include an additional sum be added to the required security deposit, to allow for possible damage and costs involved in move-out cleanup.
In order to deal with tenants who are consistently late with rental payments, but do eventually pay, a clause in the lease or rental agreement should specify applicable late fee charges.
If a tenant, for one reason or another has become a problem; non-payment of rent, causing disturbances, and so on, the property manager can start eviction proceedings, or upon consultation with the property owner, may offer an incentive to the problem tenant to move out voluntarily.
Possible negotiation points could be to fore go a past due rental payment, or refund a security deposit, if no real damage has been done to the property, so long as the tenant agrees to leave the property within a time limit as specified by management.
Naturally, any agreements must be documented and signed by all relevant parties. The agreement should also specify that no reimbursements, or refunds will be paid until the tenant has moved within the specified time allowed.
The quality property manager, by thoroughly screening prospective tenants, providing a good lease, treating tenants fairly, promptly attending to maintenance issues, and resolving disputes, will have less problematical situations to deal with in the long run.
