We present 5 cases that can be prominent signs that the property is in the wrong hands:
If an owner doesn't get answers, he can rightfully assume that his tenant won't either, which threatens his business interests. In the worst case, the property manager has no answers because he simply did not have time to deal with the question.
At Tower, we provide each property owner with a dedicated contact person who not only answers inquiries but also actively represents the homeowner's interests during the company's internal operations. The separation of owner and tenant customer service guarantees that we can deal with all our customers, whether they are owners or tenants, both qualitatively and efficiently.
Property management consists of many tasks, but the property manager must be able to communicate, focusing on the essence and accurately informing the homeowner about the most important milestones. Examples include renting out the property, moving in a new tenant, extending a lease, moving out a tenant, or major maintenance events.
In addition to the dedicated owner contacts, through our Tower365 service, our customers can log in at any time and review their current financial statement, recent entries related to the property and possible ongoing maintenance events.
A vacant property does not generate income, while maintenance costs continue to be borne by the owner. Tower pays special attention to those properties that, for some reason, may have difficulty finding a tenant, and we proactively work on a solution with the involvement of the owner. The extension of the contract should also receive special attention because with superficial care, unfortunately, the market prices can go beyond the once advantageous pricing of the previously concluded contract, which in the long run is a loss for the owner even if he has a basically good tenant.
With a special strategy and a dedicated colleague, our company takes care of the review of rental fees during the contract extension.
There is no point in renting out the property for the long term if the owner cannot enjoy the benefits of continuous, predictable income. With every tenant, it may happen that due to some life circumstances, they will slip in paying the rent.
However, there is a tolerable level of this, and it is the responsibility of the property manager to keep up-to-date and manage the situation. It is not acceptable if rent payments are received irregularly or even months later.
All of the above symptoms can be caused by the unfortunate situation that real estate management is just a sideline for a business that doesn't get enough attention.
Our company also deals with real estate leasing and sales, but at the same time, these activities are sharply separated. Since real estate management is one of the main activities of our company, a separate staff of 30 people and decades of experience ensure that the affairs of the more than 700 apartments they manage receive dedicated attention.