Property managers work as expert negotiators, acting as intermediaries between property owners and tenants to make sure that the interests of both groups are represented to ensure fair outcomes.
The coronavirus pandemic has caused financial uncertainty and instability for many people, highlighting the importance of a strong and equitable rental arrangement along with a skilled property manager to negotiate any complications.
Arena Property Agents are experts at managing properties and representing the interests of clients and owners. Here are some of the key areas to keep in mind while navigating rental arrangements.
The Right Tenants
Choosing the right people to rent a property takes skill and experience. With access to tenant databases, great marketing that gets your place in front of a wide range of prospective tenants, and a comprehensive application process that individually vets each tenant, our property managers are experts at selecting the best people to care for a property.
Choosing the right tenants initially helps to smooth out future negotiations, reducing the chance that there will be a need for any large interventions in the future. Arena property managers are skilled at identifying great applicants and helping to foster long-term arrangements that benefit both parties.
Rental arrangements are a complex field to negotiate, as it’s important to take both financial and humanitarian concerns into consideration.
Governmental regulations around the coronavirus pandemic made the situation even more complex, as landlords and tenants became uncertain about their changing rights and responsibilities.
In times of financial hardship, the goal is for tenants to pay as much as they can. If they are still short, property managers can negotiate a temporary reduced rate or a repayment agreement, depending on the landlord’s requirements. If the landlord experiences financial hardship as a result, there are avenues such as Landlord’s Insurance that can be explored, or situation-specific relief such as governmental relief packages for the coronavirus pandemic.
Times of financial hardship require a neutral third party to negotiate. For most tenants who are struggling financially it’s an extremely stressful time in general, and their priority is to secure a roof over their head as they seek to resolve their financial difficulties. A skilled property manager can help understand the situation, is knowledgeable about the options available to both parties, and can act as an unemotional go-between to keep tensions as low as possible.
The law upholds a tenant’s right to reasonable enjoyment of their residence, but owners also need to know how their valuable property is being cared for. How often a
property can be inspected needs to be detailed in the rental arrangements, and advance notice must be given before a property is inspected.
The coronavirus pandemic has made inspections more difficult, but not impossible. Forward-thinking agencies have negotiated ways to continue to inspect properties without breaching covid regulations, such as having the tenants vacate the property first or organising virtual walk-throughs of the property using digital tools.
Satisfied tenants are more likely to pay on time, renew their agreement, and care for the property as if it were their own. Owners have obligations to ensure their properties are held to the standards of the agreement, and rapid response to requests is the best way for owners to show their concern for the well-being of their tenants.
One of the major keys is open communication. Property managers should keep lines of communication open, so landlords hear about the small repairs and concerns that tenants have in good time, instead of only being notified when a major problem occurs.
Choose the Experts
Hiring a property manager has so many clear advantages. Here at Arena PA, we care about your home as if it were our own – but with the advantage of being a neutral party to act as a go-between when necessary. We offer calm, professional conflict resolution in the unlikely event that it is needed.
Our skills and experience are irreplaceable when it comes to understanding and upholding the rights and responsibilities of both parties. We understand the legal timeframes and requirements for the practical aspects of managing a property, and are skilled at communication and building relationships to smooth the process as much as possible.