Gone are the days of selling your current home when it’s time to upgrade or downsize. With today’s hot rental market, it can be more beneficial to retain the original property for use as a rental unit. If you choose to do so, hiring professionals like those at Olympia’s Hometown Property Management is crucial.
One crucial way a professional property manager helps is by keeping ahead of changes to local and state laws. Landlord/tenant relationships are governed by specific guidelines to protect both parties should issues arise. And they can change with little fanfare or warning.
“The current legislative changes are coming fast and are complicated,” explains Hometown Property Management Broker Donna Palecki. “Professional management companies are keeping up with these laws. Some owners may not have the resources to do so and there are tenants who will prey on small owners to manipulate the laws to their favor.”
Some of the resources property managers have access to are networks of plumbers, electricians, carpenters, and contractors to assist in any maintenance issues. “Our accounting staff is able to make payments quickly and efficiently. We have property evaluators who routinely put eyes on the properties to identify and report problems quickly, and on-call systems for emergencies to promptly and legally respond to crises,” says Palecki.
And companies like Hometown Property Management will even help find and screen potential renters. Renting is often a first step to homeownership but in our current market, many owners are selling second properties which reduces rental inventory. Hometown’s management services cover marketing; background, criminal, and credit checks of prospective renters; and compliance with laws regarding eviction, breed-specific dog issues, and subsidized housing vouchers. “Professionals follow new laws so you don’t have to,” says Palecki.
Hometown manages approximately 1,000 such properties throughout Thurston and Pierce counties. And no, you don’t need to own multiple units to benefit from using their service. Approximately 65 percent of their business is single property owners. They happily serve as the go-between for tenant issues to keep it a business transaction, says Palecki.
Many of the new landlord/tenant laws favor renters and address complicated aspects like acceptance criteria, financial histories, and eviction notice and requirements. “Laws are changing so fast that you need someone to keep up with it. As licensed brokers, we take continuing education classes that cover these areas.”
Property managers like Palecki are also considered special agents who can make decisions on the owner’s behalf. Did your tenant’s hot water heater die while you’re out of town? No problem, Hometown Property Management will see to the replacement so you can go back to watching sunsets with your toes in the sand knowing you’ll come home to happy renters (with hot showers).
Want to know more? Simply contact Palecki and the Hometown Property Management team at email@example.com, online, or by calling 360-918-5267. Agents will ask questions and set up a time to visit the property for an initial walk-through. Once on-site, they’ll provide suggestions, answer questions, and even help determine market rate for monthly rental amounts. With what Palecki calls “a steady growth of new listings” they love working in and around our thriving community. Whether you’re looking for full-service management, partial-service management, or specific customized services, they’re always ready to help.
Red Adair once said that “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.” Save yourself time, money, grief, headaches and legal stress by hiring professionals like those at Hometown Property Management to oversee your rentals. They’ll handle everything and your outgrown house will soon be a new family’s home sweet home.