What Are Landlords vs. Property Managers Responsible For?
In this article, we’ll discuss the legal responsibilities of landlords and tenants. As landlords, your responsibilities include maintaining habitability, budgeting for repairs, and enforcing lease terms. As tenants, your responsibilities include keeping the property clean, maintaining smoke detectors, and performing minor repairs, as permitted by your lease. Fortunately, we’ve got some tips for separating landlord and tenant duties.
While the difference between legal compliance for landlords and property managers is often minimal, they both must follow certain safety and protocol measures to ensure the highest level of tenant satisfaction. Common requirements cover utilities, fair housing policy, and tenant screening. Staying in compliance includes regular inspections, financial monitoring, and tenant relations.
Budgeting for Repairs
When it comes to maintenance, budgeting for major projects is a good idea for property owners. Major projects can include a repaving driveway or replacing an HVAC system. Some managers even plan major projects three or four years in advance to accommodate the market. This prevents unexpected issues and regular maintenance costs. By determining the cost of major projects, landlords can properly budget for rental property maintenance.
Enforcing Lease Terms
Who is responsible for enforcing lease terms? As a landlord, it is your responsibility to make sure that your tenants abide by the terms of their lease. This includes paying rent on time, abiding by the municipal laws, and taking care of the property. A tenant can be any adult person over 18 who lives on your property. Even if you do not list them on your lease, they are still considered tenants.
Managing Tenant Complaints
There is a fine line between property management and being a landlord. While landlords are responsible for dealing with routine maintenance and repairs, property managers handle complaints involving their tenants. There are several ways to handle complaints pertaining to tenants. First, landlords must inform tenants of the complaints process. This will help reduce tenant anxiety and improve the overall quality of living in the property.
Choosing A Property Manager
Hiring a property management company is a decision that needs to be made carefully. You’ll be communicating with your manager most of the time and will need to be able to work well together. The cost of hiring a property manager is an expense that can be tax-deductible. This choice is especially wise if you have multiple properties and want to ensure that they all get the same attention. In this article, we will discuss the benefits and disadvantages of hiring a property manager.
If you are a landlord or property manager who is looking to improve their tenant engagement, retention, and consolidate their property management into a single platform, Tenix is the perfect solution. We aim to make property management simple. Call today at 1-888-466-4167 Ext. 240 to learn more!