Property managers, or rental owners who manage properties on their own, who fail to take the necessary precautions when screening tenants are asking for headaches and potentially long down time for their rental properties.  Cutting corners in this process is a nightmare waiting to happen which will only increase the amount of time one will spend in pursuit of quality long-term tenants and diminish overall return on investment for the portfolio.

Today, background check screening software available from a professional property manager can quickly and accurately paint the prospective tenant’s employment background, criminal record (if any), eviction record (if any), and credit history.  Without using a professional property manager to help in this process is like dancing on a tightrope which could lead to problems.

Lead, (Pb on the Periodic Table from Chemistry 1A), has been an integral part of human existence for thousands of years.  It has been very useful and instrumental in the development of plumbing, waste disposal, and water diversion systems from early civilizations. Most importantly lead-based paint was used prolifically up until 1978 to paint the homes, dwellings, and buildings of the United States.  It is estimated that 38 million homes in our country have some form of lead-based paint in the interior or exterior.  Although lead has helped advance our human cause it has also presented hazardous health side effects which required laws restricting its use and requiring disclosures. Property managers, landlords, and owners who rent for a fee must be aware of the requirements set forth by State and Federal Law before renting, leasing or even selling a property built prior to 1978.

If you are the least bit concerned about the management of your investment property, remember the old adage, “Where there is smoke, there is fire!”  Nine times out of ten when there is a significant lack of communication, if the results in your monthly statements continue to disappoint, and if your property manager has overpromised and under-delivered, it is time to say good-bye. Start your investigation as soon as possible, call the responsible broker and ask for a serious conversation.