Condo Questions - How is the Property Managed?

by Paula Burton 08/01/2021

Image by Peggy und Marco Lachmann-Anke from Pixabay

When inquiring about renting a home or condominium, you may not immediately be aware if the property is being self-managed by the owner or by a property manager or management firm that the owner has hired. There are some benefits and downsides to each. You should first ask who and how the property is being managed. This just could give you an indication of what to expect in your relationship.

Benefits of an Owner Landlord

One of the benefits of renting from a landlord who owns the property is that they have a direct vested interest in maintaining the house. This could mean that they may be more responsive and make repairs properly. Property owner landlords do not like replacing tenants and filling vacancies, so they will often treat their good tenants very well.

Negatives of an Owner Landlord

Often, the biggest downside of an owner landlord is they have too close of a personal connection with a property. They may have even done much of any remodeling or repair work themselves. They can take it personally if there is damage or a repair that needs addressing. This makes them more prone to inspecting the property more frequently. They also are more personally affected if a tenant is late with making a rent payment. They may not have the resources or be willing to spend the money, to keep a property properly maintained.

Benefits of a Property Manager

A professional property manager works as a liaison between the tenant and the owner. This keeps the owner at arm's length, making the relationship more professional and less personal. A property manager has their own reputation to maintain and should try to keep both the tenant and owner happy. A property manager often solely works on managing properties and can spend more time making sure a property is maintained.

Negatives of a Property Manager

Some would argue that the negative to working with a property manager is that they are a paid third-party with no “skin in the game” so to speak. Many property managers also manage their own properties and may manage so many properties they may not have enough time to pay sufficient attention to yours. So property managers are largely impersonal companies and may not offer the personal touch you desire.

Due Diligence Is Key

To key between selecting a professional property manager or an owner tenant usually lies in performing your due diligence before signing a lease. Ask for reference and see our reviews. Any landlord or property manager will ask for references from you. Do not be afraid to perform your own due diligence before making a decision on renting from them.

About the Author
Author

Paula Burton

Premier Top Agent Producer Specialties: Buyer's Agent, Listing Agent, Relocation, Consulting I have enjoyed many wonderful years working with great Sellers and Buyers in servicing their real estate needs and making their dreams come true. And I want to take a moment to thank them for their business and putting their trust in me. In 2017 so far, I have produced 29 Listings and Sales closed, the highest price being $700,000. In 2016, I produced 32 Listings and Sales with the highest priced property at $690,000. In 2015, I produced 39 Listings and Sales with the highest priced property at $530,000. In 2014, I produced 32 Listings and Sales with the highest priced property at $523,000. Over the years, Listings and Sales have been from 30-43 properties a year up to $775,000. My seasoned experience as a Top Producing Agent gives me the knowledge, understanding, and professionalism to help service my clients in the best way possible in their best interest. We've become friends during the process and we always maintain a great relationship afterwards. Because of my strong work ethic in providing the best professional service for my clients, I have been complimented by receiving many referrals from them to help their families and friends in selling their properties and buying their next home, and in making their next move an enjoyable experience. I am affiliated with Century 21 AllPoints Realty in Southington specializing in central CT and having the ability to cover the entire state and out of state. I have over 25 years of professional experience winning many awards being the top producer in Southington over the years and the Century 21 top producer in the state of CT and in the Northeast region. I am a member of the Centurion Honor Society for consistent high top production for the past 14 years. I am a member of the Greater Hartford Board of Realtors, Vice Chair in 2016 of the Legal Awareness Committee, and on the Board of Professional Standards, and Chairwoman this year in 2017. I was previously affiliated with Calcagni Real Estate, and Prudential CT Realty (now Berkshire Hathaway) also achieving top production awards, adding to my professional success and expertise. I am excited about the real estate business and find great joy in helping my wonderful clients. Century 21 AllPoints Realty has 9 offices in the state of CT with Southington being the headquarters. We have been the top real estate office in Southington for the past 14 years in production, numbers of properties listed and sold. In the Century 21 network, my company has also been the top Century 21 company in the state of CT for the past 15 years, and one of the top Century 21 companies in the Northeast Region. We are a locally owned family business for the past 30 years with involvement in the local community and state, and have the selling power and outreach of a large global company - the best of both worlds and the best advantage for our clients. I myself have resided in Southington for many years, enjoying the wonderful community in the center of the state with convenient access to all the major highways. In my free time, I enjoy getting together with friends and family and clients for a cup of coffee, glass of wine, or a leisurely lunch or dinner. I love relaxing walks, exercising, and my yoga classes! I relax with a good movie, cooking, and I love travelling, I look forward to meeting with YOU ready to help fulfill YOUR real estate needs and dreams! Please contact me at any time!