Consumers require residential property management services from time to time for a variety of reasons. Some purchase rental properties and need someone to manage the property. Other consumers will be away from their homes for an extended period. Even if you leave for a two-week vacation, someone should be looking after your home for you. We will discuss these issues and others in the following post.
Property Insurance Requirements
Many homeowners just lock their doors and leave for their vacation. They are excited about getting away. Many do not give a seconds thought about who will look after their home. Turns out that many insurance companies have specific requirements about vacant homes. The number of checks depends on the company, the time of year, where you live and your heating system. They may require checks on your home every day. Call your residential property insurance company to confirm your requirements to maintain insurance on your home. Even condo owners need to do this.
Temporary Vacation Management
Many residential property management services companies will offer support to home owners in this situation. They can check your home for water leaks, power outages and break-ins. Have them visit and report back to you after every visit. You will need a record especially if you need to make a claim to your insurance company. They want to know that someone is looking after your home.
If you are going to be away for several months, it is important to arrange for residential property management services. They will check for water leaks, heating system malfunction, landscape management, snow removal and even water the plants. Consumers can make special arrangements for all of the services they need. They can leave with the confidence that their home is looked after.
Rental Property Residential Property Management Services
Many consumers purchase rental properties as an investment. Some will manage their own properties. Others do not want to deal with tenants and some of the problems that arise. This is where residential property management services can really help. Some of the services that can be included are:
- Tenant review and approval
- Rent collection
- Deposits to bank accounts
- Property management
- Property repairs
- Regular monthly reports
Property management is a catchall for all of the things that most consumers take for granted about maintaining a home. This area of services can include the following depending on the building type:
- Mowing the lawn
- Trimming hedges and shrubs
- Maintaining watering systems
- Routine repairs
- Painting and cleaning after tenants vacate
- Management of special projects e.g. window replacement, heating system upgrades etc.
Regardless of the residential property management services you need, there is a property management solution. Make a list of the services that will be needed for your situation and the time frame involved. Call your insurance company to confirm their minimum requirements for your home and the time you will be away. Make sure that you will receive appropriate documentation from the residential property management company. You will need it to make an insurance claim.