Sometimes Park City property management is a great business to work in. You are providing a valuable service in the form of long term rentals in Park City. There is a good clientele of families and working professionals who are in need of this valuable service. For the most part people are happy to live in this area and are generally decent, understanding people who pay rent on time and follow the rules. But sometimes there are problems. Obviously maintenance requests and the like happen from time to time but every now and then you will run into an instance where two parties are in dispute and you as the Park City property management person are in stuck in the middle. Here are some tips that I have found to be effective when you find yourself in this situation.
1. Listen
In order to properly understand what the source of conflict between the two parties is the first thing you need to do is listen. Even having a person to vent to can help alleviate a situation. Let a person talk and don't interrupt them unless you need clarification on a certain point. Allowing a person to speak and express themselves is important in this stage of resolving the conflict. The ability to listen is key for Park City property management.
2. Investigate
Before coming to a conclusion about a complaint you receive you should do some investigating. If the complaint involves another party talk to the people the complaint is about. Perhaps they are unaware they are doing something that is causing a problem. They may make an immediate effort to change which solves the problem entirely. Of perhaps they are resistant to change and feel they are the ones who have been slighted. You may find yourself back at step one with the second party but you need to have both sides before you can make an effective decision.
3. Be Neutral
It is very easy, when listening to two sides of the same argument to become biased to one point of view. Perhaps a resident is complaining about his neighbor's children making a lot of noise. If you yourself have children you are probably aware that children can at times be noisy and there isn't always something you can do about it. But that does not invalidate the concerns of the complaining party. Try to be a non-judgmental middle man in these situations, it is the best route for Park City property management.
4. Work Towards Compromise
Not everyone gets exactly what they want out of a dispute. Look for the areas where the two parties are willing to compromise and where they are not. Even if people are adamant that they are not at fault ask them to give a little to reach a resolution. I've had people argue until they are blue in the face that they are not doing anything wrong and I've still asked them to make an effort at change. Compromise is your goal for Park City property management.
If you would like more informative tips on conflict resolution, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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In a society where farmers markets and buying local increasingly draw both our interest and our dollars community involvement is another movement towards creating solutions to community problems on a community level. It is about the members of a community proactively joining together to accomplish a project that betters the community itself. As someone who is involved in Park City property management I have a unique insight into the ways in which community involvement can positively benefit a community. Perhaps you are only a landlord who has some Park City long term rentals. Or maybe you live in a homeowner association in Park City, Utah. Either way community involvement can be a great avenue for improving your local area. Let's take a look at some of the facets of a society that can be positively affected by an involved group of people.
Community Relations
There is something about bringing people together to accomplish a project that can break down barriers and create a greater sense of friendship and understanding between people. A few years ago we had a significant amount of snowfall in the mountains and a very wet spring. As the snowpack begin to melt the creeks running out of the mountains and into the Salt Lake Valley began to swell with runoff. One of the creeks runs close by my home and through the middle of a condominium community. As water began to seep through the banks and flow out of drainage pipes it became apparent that a lot of sandbagging was in order. Now many homes in the area were not threatened. And neither were any of the condos that weren't facing the creek and on the ground level. But the community joined together in helping those in need. Over the course of a few days there were a lot of late night sandbag moving and stacking and eventually people's homes were okay. And through this coming together to achieve a common goal a strong sense of community was developed, relationships were strengthened and friendships created.
Property Values
Strong communities are desirable places to live, this has been proven time and time again in real estate. When people value the community they live in they will work towards maintaining both their property and the community themselves. Curb appeal, both of a community and an individual property, is an important part of real estate investing. Even if you don't have Park City long term rentals in the most expensive part of town you can still be an involved property owner and make sure the community is maintained and beautified. If I could encourage one type of behavior from a landlord working in Park City property management it would be to become knowledgeable and involved in the community where their investment property is located. You will see not only the property value increase but also the amount of rent you are able to charge go up and the quality of tenants interested in your property will improve.
If you would like more information on community involvement, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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If you are a landlord in Salt Lake City property management and your investment property is part of a condominium development there are special considerations that should be made regarding the home owners association or HOA. Many people find HOAs attractive options for both residences and investment properties. An HOA typically has shared costs for many maintenance items which alleviates some of the work associated with property ownership.
HOAs also have established community rules that are generally designed to enhance or preserve the value of the community.
If your Salt Lake City or Park City long term rentals are in an HOA then as the landlord you need to make extra effort with your tenants. Below are a few examples of HOA rules that tenants may unknowingly break and that landlords should consider their responsibility to inform tenants of.
- Length Of Stay: Of the several HOAs that I manage rental properties in this rule varies. One has a restriction that does not allow leasing for a term shorter than 30 days. Others do not have a restriction of term which essentially allows for nightly rentals. This type of property, sometimes referred to as a "condo hotel" is significantly more common to Park City property management than it is in Salt Lake City property management. Nightly rentals come with their own difficulties as well. Make sure you are aware of your HOAs restrictions on length of stay for tenants.
- Pet Rules: Again this rule will change depending on the HOA. I work with HOAs that allow owners but not tenants to have pets, HOAs that don't allow anyone to have pets and HOAs that allow both owners and tenants to have pets. There will also be restrictions on the number, size and breed of pets as well. I have seen landlords turn a blind eye or even deliberately mislead tenants. I have seen tenants who know the rules and ignore them. As a landlord make sure you follow the rules and your tenants do as well.
- General Community Rules: There are also rules established that limit certain behaviors in a community. Things like parking restrictions, use of decks or patios, common area rules, and rules for amenities like pools or gyms are just some of the restrictions you can encounter in a HOA regulated community. The best thing any landlord in Salt Lake City property management can do is make sure they first obtain a copy of all rules from the HOA. Many HOAs have a management company that will have all the rules and regulations available for all property owners. Obtain these rules and inform your tenants up front that they are obligated to obey the community rules. Most HOAs also have a fine schedule that pertains to repeated violations. An owner is responsible for the behavior of their tenants. So if your tenants are found to repeatedly violate HOA rules the fine will be assessed to you as the property owner.
My experience has been that most people, when informed of the rules, will make a reasonable effort at following them. There will always be a certain percentage of the population of any community that will feel as if the rules don't apply to them. It is the responsibility of landlords to determine which type of person their tenants are and take the appropriate action.
If you would like more information on HOAs and rentals, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
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By now, if you watch the news, you have heard of Charles Ramsey, the neighbor of kidnapping victims Amanda Berry, Georgina DeJesus, and Michelle Knight. Ramsey heroically rescued the women by kicking in their door and calling 911 after hearing cries for help from Berry. There are a few things everyone can learn from this situation that I think can benifit both landlords and tenants in Park City property management.
Judging A Book By Its Cover
When looking for a place to live most people will first look for a location that works for them. Is it close to work, family or friends, shopping, schools, etc. The next thing most people consider is the property itself. Does it have upgraded features or is it newly constructed? What condition are the carpet, paint and appliances in? Are the amenities to the property that I feel are
valuable? But something that people often overlook is the quality of the neighbors in the area which you are looking at. Take Charles Ramsey for instance. He doesn't live in the most luxurious neighborhood and isn't wearing a tuxedo for his television interview but when Ramsey was needed the most he was there. It takes a certain amount of courage and thoughtfulness to respond to a woman's cry for help, kick down the front door, and call the police. When a person was in trouble Ramsey was there to help and, despite appearances, would make a great neighbor for any of us to live by. You should strongly consider the caliber of people you live by when looking into Park City property management.
Doing Your Homework
How many of you, when looking at renting or buying a property, have knocked on the doors of your potential neighbors to see who they are and what the community is like? Probably very few. And yet how many problems in a community arise from disputes or disagreements between neighbors. If you are going to be spending any decent amount of time in a residence
you should make a effort to get to know your neighbors before committing to a property. If you are interested in a place take some time, preferably in the evening when most people are home, to knock on the doors of your potential neighbors and ask them about the community. Do they like their neighbors? Is it there much crime in the neighborhood? If you have children are there other children of similar age in the area? If your neighbors have children you can ask about the school district and their thoughts on the teachers. Have there been disputes between neighbors in the past and if so what were the disputes about? Is it a quiet neighborhood? What about people nearby who smoke, are there any dangerous animals being kept, is the street the property sites on normally busy or quiet? Whatever issues are important to you when deciding where to live are great sources of questions to ask your potential neighbors. You may find that while the neighborhood is well maintained and upscale the neighbors are unfriendly or just plain rude. Or, while it may not be the nicest neighborhood, you could be lucky enough to live next to a Charles Ramsey.
Summary
There are many things to consider when renting or buying a property. Park City property management is a great resource for helping you think about the questions you should ask and guiding you to getting the answers. Feel out your potential neighbors when looking to move and don't judge a book by its cover, you could end up living next to a hero.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Every Landlord Should Ask Themselves".
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Having an investment property can be both a challenging and rewarding experience. Property owners are faced with two basic choices when thinking about Park City property management: do I manage the property by myself or hire a Park City property management company? Each property owner arrives at an answer by assessing the property and their personal situation. However there are a few common pitfalls that I have seen self-managing property owners stumble into in my time as a professional property manager.
1. Knowledgeable Tenants
All too often I have had a resident, who rents directly from an owner, stop by my office with a
problem. And that problem is usually related to a lack of knowledge. From "Where is the laundry?" to "Can I have a satellite dish?" many problems that arise for a tenant can be proactively dealt with through informing the tenant about basic information related to the property. If your investment property is part of an association this could include parking rules, pet policies, or access to gym and pool facilities. In the case of renting a private home clearly spelling out any maintenance responsibilities that belong to the tenant are also very important. Setting expectations early can help a property owner avoid frustrations and make renting a positive experience for a tenant. The last thing anyone wants is a car to be towed because a tenant didn't know where they could park.
2. Background Checks
A while ago I had a conversation with a property owner who does their own Park City property management. At the time we both had a similar property we were trying to rent and they wanted to know if I had any good prospects. I said that I had a few showings but only one party had submitted an application and had been turned down. When they asked why I had turned the prospects down I indicated that a member of the party had a Social Security number that showed up as belonging to a deceased person. The property owner then asked if I would refer the prospects to them because "I don't really worry about that, I never run a background check"! Now I would hope that this is an uncommon response but when looking for prospective tenants you must take the time necessary to protect your investment. Some recommended steps are:
- Verifying employment
- Check rental history
- Run a credit and criminal background check
I have seen too many examples of poorly checked tenants that have resulted in damaged property, lost rents and even involvement from law enforcement. This can not only negatively affect the property owner but also the community. Don't just take the first person who has cash in hand, do your research and you will be glad you did.
3. Be Involved In The Community
As a property owner it is all too easy to simply let the rents come in and not think about the big picture. Do you know what is going on in the community where your investment property is located? Are there things happening that could impact your ability to rent your property, either negatively or positively? Let me give you an example. Not too long ago I was consulting with an attorney who specializes in Utah property management. We were discussing pool rules when he told me about a community he was aware of that got into a lot of trouble over their pool rules and the Fair Housing Act. The Fair Housing Act, passed in 1968, creates certain protected classes that it is then illegal to discriminate against. One of those protected classes is "familial status", which was added in an amendment to the act in 1988. Familial status can be easily understood as having children. The community that the attorney was telling me about was formed prior to 1988 and had an little known and never enforced rule that barred children from using the pool during certain hours. A family renting a property in the community, upset with something completely unrelated, found this rule and reported the community to the U.S. Department of Housing and Urban Development, the agency responsible for enforcing the Fair Housing Act. Unfortunately for this community the government levied a heavy fine which then was passed on to individual property owners for payment. In this case an involved homeowner could have easily saved the community a serious fine by knowing the rules present in their community.
Park City property management can be a positive way for owners to generate funds on their property but without some basic knowledge it can be a difficult process. Take time to further educate yourself with some of these resources: Fair Housing Act, Background Check.
If you are interested in learning more about property management Park City Utah, download our free white page "5 Questions Landlords Should Ask Themselves".