Should Professional Property Managers Offer a Rental Guarantee?
At Real Property Management Pinnacle Tucson Tucson, future customers often come to us for help because they are unable to recover rent payments from former tenants. Unfortunately, this is a common problem in owner-managed properties — a tenant does not pay rent, and the owner suffers financially as a result.
That’s why Real Property Management Pinnacle Tucson Tucson offers a rental guarantee, and why any property management company you hire should as well.
What is a Rental Guarantee?
The exact terms of a rental guarantee vary between property management companies. In nearly every case, it is designed to protect property owners from tenants who do not pay rent.
Here’s how it works at Real Property Management Pinnacle Tucson Tucson: When we find a tenant for your property, we charge the property owner a leasing fee that covers the cost of background and credit checks. If the unthinkable happens and the tenant is unable to pay rent or is evicted for some other reason, we will waive the leasing fee for a replacement tenant, meaning we will cover all of the costs of screenings ourselves.
Do I Need a Rental Guarantee?
Undesirable tenants often look for properties that are not professionally managed because they are more likely to get away without paying rent for an owner-managed property — background checks are often less thorough, and owners may not have the legal knowledge to enforce rent payments. A property management company, however, comes equipped with the tools and expertise necessary for conducting thorough background checks and retrieving unpaid rent.
One of the many benefits of hiring a property management company is the offer of a rental guarantee. At Real Property Management Pinnacle Tucson Tucson, we offer this guarantee because we are so confident in our abilities to thoroughly screen tenants for potential issues, obtain consistent rent payments from tenants, and deliver payments to our property owners in a timely fashion.
Rental guarantee is a key service to look for when hiring a property management company. If your property management does not offer a rental guarantee, it may be an indication of an inability to choose quality tenants or obtain regular rent payments.
Related: Let Us Help Protect You
For more information about our rental guarantee, or to hire a property management company, give Real Property Management Pinnacle Tucson Tucson a call at 520-883-RENT.