Even for the experienced property owner managing your asset can become tiresome and costly. Below are a series of quick tips that can help any property owner save $$$.

Tenant Selection

Select tenants carefully (and lawfully)!  Use a property management or credit check software to ensure you are only leasing to qualified tenants. In Massachusetts, especially, the laws are very tenant friendly so once a “bad” tenant is in your building it may be very difficult and costly to evict them.

Timely maintenance and regular inspections

Dealing with tenant requests promptly is key to ensuring your property is in good condition and small problems don’t become larger costly ones.  Regular inspections and routine maintenance are also important, especially if you have a hunch your tenants are lax in reporting maintenance concerns.

Smart systems

Many newer properties will feature the latest in smart technology but older properties can be retrofit with these devices to keep utility costs down and run your property at top efficiency.

Tenant retention

Everyone knows keeping a tenant is less expensive than a new lease so customer service is key!  Have you gotten lost in the phone maze of a large property management company? Not pleasant for current tenants or anyone looking to lease at your property.

Hiring a Boutique Property Management company.

As a property owner, you want to ensure your asset is being run at peak performance but also at a reasonable rate.  Utilizing a boutique, local property management firm like GB property Management can decrease your management fees but also increase response time and tenant retention by building strong foundations with residents.