3 Simple Ways a Professional Property Management Company Can Mitigate Your Risk | Landlord Education in Austin, TX
System - Monday, November 6, 2017
Many landlords would consider themselves risk averse, but there are always going to be potential liability issues when you own investment property. Today, we’re talking about how a property manager can help you mitigate your risk. There are many ways that we can make you less likely to get into trouble, and in this blog we’ll focus on three simple things we can do.
Legal Liability and Real Estate Investing
A property manager will be aware of all local, state, and federal laws, including the Americans with Disabilities Act (ADA) and the Fair Housing Act. Did you know that in Austin, we have extra protected classes, including students and creed? These are just some of the differences you’ll find in Austin compared to other localities in Texas. A local property manager will understand these nuances.
Pets and Non-Pets
Your property manager can also help you distinguish between a pet, a service animal, and an emotional support animal. Did you know that a service animal can be either a dog or a miniature horse? Crazy, but it’s true. This is a high risk area for landlords because you can’t treat a service or support animal the same way you treat a pet.
Eyes and Ears of Your Property
Another way your property manager reduces risk at your rental property is by being present. Property managers are the eyes and ears that you need at your investment. We use trained and qualified vendors, who also provide an extra set of eyes on the home. Often, a property manager will periodically drive by your property and conduct semiannual inspections. A good manager will provide pictures, so you know the home is being taken care of. We can also help you by hiring maintenance and lawn care professionals. Even good tenants are known for not taking care of lawns. This is one small way to keep your property up and avoid an HOA violation.
There will always be risks with owning a rental property. But, these three things are just a few of the ways that a professional Austin property management can help you. If you have any questions, please don’t hesitate to contact us at Peach Blossom Properties.
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