How professional property management and independent landlords differ

How professional property management and independent landlords differ

Posted 09.14.2009 in Articles by Christopher

As a tenant of an apartment rental, you depend on your landlord or leasing office for handling repairs, answering questions or concerns, and all around care for the complex. Between renting an apartment from a professional management company or from a private landlord that are lots of differences such as resources, available staff, and time to respond to needs or concerns, but which one is better to rent from?

A property management company acts as the middle-man between the tenants and property owner. Most common property management companies are apart of a larger company that owns a few different housing development properties. Because of that the property management companies and its employees take responsibilities as a regular landlord: collecting rent, showing and filling available units, negotiating leases, handling maintenance issues, and other day-to-day responsibilities.

Leasing with a property management company can come with a few benefits. Maintenance is usually completed on a more timely manner because the property management company usually either has its own maintenance staff or has one on retainer. Amenities of the complex or the apartment itself may be better because property management companies usually have access to a larger sum of financial resources for a few different reasons: the properties they manage are typically larger in size with more tenants than individual landlords, the properties may be newer and more up to date to stay competitive, or the property is owned by a larger real estate company who can pull income from other properties and allocate that to improving the amenities of its properties.

Individual landlords come with their own unique sets of benefits as well. A typical individual landlord will have fewer properties and tenants to deal with, which can mean more individual attention and a stronger relationship. Individual landlords are sometimes more negotiable on rent prices than a property management company because the individual landlord is his own boss and has no own to answer too while a property management company may have more red tape to get through to adjust rent prices. Regulations and rules may also be sometimes more negotiable with an individual landlord such as the length of the lease, the move in date, or a flexible deposit.

Another advantage from leasing from an individual landlord is that he may not require a credit check. Property management companies usually have pretty set standards and regulations when it comes to credit scores and credit approval, while an individual landlord may be more inclined to accept references, proof of employment, or a larger deposit to offset no credit check.

When it comes to choosing between a professional property management company and an individual landlord, the best choice will really be determined the performance of the property manager when showing you the space and your individual preferences.

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perida3
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Independent landords and managers
Reply #1 on : Mon October 15, 2012, 11:58:59
Can landlords use a third party management company? if so, what advantages does that style offer? Any advice on having to deal with a middle man?

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