Property owners are often under the misconception that, once they hire property managers in Scottsdale, they will no longer have to deal with anything at all related to their properties. While this is true for the most part, there are a few things management companies often will not handle. Property owners need to figure out which services are covered and which are not. Management companies are professional in every way and usually offer a full range of services, but they cannot handle certain things due to specific rules and regulations that are put into place by governmental agencies and other authorities. The things property management companies often will not handle are as follows:
Utilities
Some property management companies have dealt with utility companies in the past for their clients, but that is becoming a thing of the past, as utility companies are making it harder than ever for third parties to handle accounts. They want the actual property owner to contact them since a social security number is typically required to make requests, changes, or even to pay the bills. Utility companies will also not allow third parties to add continual service to the account if a tenant moves out and the owner wants the account to be changed to their name automatically. Only an owner can establish this service. These rules are put into place for their protection as well as for the protection of the property owner. The property owner is ultimately responsible for the bill if the account has not been transferred into a tenant’s name, so it is best the owner handle the bill anyway.
Property Taxes and Insurance
Most property management companies will not deal with local taxing authorizes for property taxes. The tax statements go directly to the property owner. Properties owners typically want an accountant to handle their taxes anyway, so this is no real hardship. Property owners should never assume management companies will deal with tax matters. While they can make recommendations in regards to insurance, they will not actually deal with the policies property owners personally carry. It is critical for property owners to keep their insurance paid on time because, when you are a landlord, anything unforeseen can happen, such as slip and fall cases, fires, or other natural disasters, such as tornados or earthquakes. Keeping insurance premiums up-to-date is the only way to stay protected against losses.
Real Property Management offers skilled property managers in Scottsdale to provide full-service real estate management solutions. They have extensive advertising and marketing resources to give their clients the best services possible. Go to their website to know more.