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As a property management company that\u2019s been in the trenches for twelve years now, Nexus Property Management\u00ae<\/a> has had hundreds upon hundreds of interactions with owners and tenants alike and not once has the following mantra been proven untrue: NOBODY LIKES SURPRISES.<\/strong> Whether we\u2019re talking pricing or tenant relationships or results of an inspection, the best approach is to be honest and up front. Not only does skirting around the bad news get you nowhere in the long run, it actually hurts your credibility.\u00a0\u00a0<\/p>\n All too often, when checking in on local rental markets, our leasing teams will run into competitors\u2019 rental listings and it\u2019s amazing how many lessors out there are still trying to pull the wool over people\u2019s eyes.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n If you\u2019re looking at an online rental listing because you\u2019re interested in finding a new place to live, there are a couple things you should be looking for.\u00a0<\/p>\n First off, are the photos of a vacant property or one that is still lived in?<\/strong> If it\u2019s a higher scale rental, and\/or a home that the owner was recently trying to sell or recently bought, you might see a rental listing with staging. But more often than not, furniture in listings means the lessor is in a hurry and has no intention of adding value to the property once the current tenant moves out. This is often a red flag as it indicates the property owner is more interested in chasing rent than in providing a high quality home. Owners know that extended vacancies can destroy their finances for the fiscal year. And good owners know that taking the time to paint walls and improve the state of the property will bring even more benefit over the long term<\/strong>.<\/p>\n Second, ensure there are reliable photos of the kitchen and bathroom. The kitchen is key as it is the most trafficked room in the house and it is also fixture heavy, which means it can show age much more so than a bedroom with no furniture in it. A strong listing should show multiple angles of the kitchen and all major appliances. Similarly, the bathroom is the most intimate room in the home and you want to get a good look at it. If photos or video gloss over it, be on the lookout.<\/p>\n Finally, the most important thing you should be looking for, other than maybe the hardwoods you\u2019re into, is the honesty in the listing<\/strong>. Does the lessor show you the full house, bruises, blemishes and all? Are they hiding imperfections in the hope that you won\u2019t notice until after you\u2019ve signed a lease, or are they up front? Are they showing you the true value of the home or are they inflating it through omission? At Nexus, it is company policy to give tenant candidates the most complete look at the house as we can. As noted, we know that nobody likes surprises and similarly, nobody likes to have their time wasted.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n As a landlord, your ultimate goal is hassle-free long-term tenancy <\/strong>and that is a difficult task if your relationship begins on unsolid terms. The reality is this: the tenants are going to find maintenance issues during the first six weeks of their tenancy\u2026it\u2019s inevitable. So when this happens, you do not want them already feeling like they\u2019re overpaying for the unit. Setting an artificially high bar early is a recipe for disaster. Tenants who feel they\u2019ve been hoodwinked don\u2019t change their minds down the road. Expect conflicts whenever maintenance needs arise.<\/p>\n Additionally, people\u2019s time is valuable. To ask someone to take time out of their busy day, be it leaving work early or finding someone to get the kids off the bus, just so they can discover unphotographed issues in person is disrespectful and inefficient. Not only are you wasting their time, you\u2019re wasting your own as well. And if this is how you approach the leasing side of the business, what else are you cutting corners on or omitting truths for your own benefit???<\/strong><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Nexus Property Management\u00ae has been partnering with rental property owners for over 12 years and now has franchise offices in four states. We are committed to the principles that helped our Rhode Island office grow rapidly and while it may sound cliche or generic, honesty is the very best policy<\/strong>. It\u2019s been said that \u201chow you do the little things is how you do everything\u201d and that seems especially applicable in this regard. Taken directly from our franchise policy manual: \u201cDishonesty not only potentially damages our reputation if we physically show a unit in a different state than we had advertised, but allowing a tenant to discover shortcomings on their own, once they\u2019ve already signed a lease, can lead to much bigger, expensive problems down the road.\u201d\u00a0<\/em><\/strong><\/p>\n \u00a0<\/p>\n To learn more about our services and approach to property management, reach out to the Nexus team closest to you<\/a>.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Mick Lefort is the General Manager of Nexus’ New Haven County Franchise Office and the Vice President of Operations for Nexus Property Management\u00ae, a National Property Management Franchise<\/a>\u00a0that manages all types of rental property from single family homes or condos\u00a0to large apartment buildings and complexes.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Your Property,\u00a0MANAGED<\/strong>\u00ae<\/p>\n The Real Estate Investing Authority\u00ae<\/p>\n Connecting You To Better Living\u00ae<\/p>\n \u00a0<\/p>\n You Could Own A Nexus Property Management\u00ae Office For Less Than You Think!\u00a0<\/strong><\/p>\n <\/p>\nLEARN MORE: <\/em>THE TRUE COST AND VALUE OF REAL ESTATE INVESTMENT<\/em><\/a><\/h4>\n
WHAT TO LOOK FOR AS A TENANT:<\/strong><\/h3>\n
LEARN MORE: <\/em>NEW RENTERS\u2019 101: TOP 10 TIPS FOR HASSLE-FREE TENANCY<\/em><\/a><\/h4>\n
WHY THIS IS THE BEST APPROACH IF YOU\u2019RE LEASING A PROPERTY:<\/strong><\/h3>\n
LEARN MORE: <\/em>YOU ARE NOT GIVE UP CONTROL WHEN YOU HIRE A PROPERTY MANAGER, YOU\u2019RE GAINING A TEAMMATE<\/em><\/a><\/h4>\n
CONCLUSION AND NEXT STEPS:<\/strong><\/h3>\n
MOST POPULAR NEXUS ARTICLES THIS WEEK:<\/strong><\/h3>\n
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TENANTS ARE BOTH YOUR CUSTOMER AND YOUR BOSS<\/a><\/h4>\n<\/li>\n
NEW RENTERS\u2019 101: TOP 10 TIPS FOR HASSLE-FREE TENANCY<\/a><\/h4>\n<\/li>\n
THERE ARE THREE DIFFERENT KINDS OF PROPERTY MANAGEMENT COMPANIES TO CHOOSE FROM<\/a><\/h4>\n<\/li>\n<\/ol>\n