When investors are hunting for a new real estate opportunity, the end goal is to get the greatest return on their initial purchase, which is why so many investors turn to the rental market and hire a professional property management expert. But sometimes things don’t always turn out as expected with their investments and disaster strikes.
Kassandra Taggart, a Real Property Management franchisee in Anchorage, Alaska, knows all too well about unexpected property issues. One of the many properties she managed was a converted duplex that found itself in quite the messy situation. When a new home was under construction on the neighboring lot, the builder discovered the duplex’s sewage line was on their property and had the city cut it off without notifying the property owners. Because the city did not inform anyone of the cut line, the tenants in the upper unit continued using the showers and toilets which caused the waste from that unit of the duplex to back up into the lower vacant unit. During their weekly check of the vacant unit, Real Property Management found it to be full of sewage draining in from the plumbing in the unit above.
Kassandra and her team promptly notified the property owners of the situation and worked with the tenants to evacuate them and promptly returned their security deposit and current month’s rent. It’s easy for emotions to run high for all parties in the event of a necessary evacuation of the unit. Acting fast and remaining professional during the event can keep incidental costs down and save the relationship with an existing tenant and prevent potential legal problems.
You never know what is behind each door when you invest in real estate but taking professional measures like proper inspections and property surveying can limit messy situations for property managers, owners and tenants in the future. At Real Property Management, we are here to advise you in every way we can with your investment properties and to take care of the dirty work of the day-to-day issues that may arise in property management.