pertaining to the Fair Housing Act that protect applicants and renters from unlawful discrimination. As you can see, property management is a complicated business. Imagine juggling all the hats a property manager wears and staying within the parameters of the laws—it would be a challenge! Because managers are familiar with the law as it pertains to the practice of property management they can avoid mistakes that could lead to costly litigation. This saves you time and money and helps protect your investment. It is in everyone’s interest to avoid litigation. After all, the reason for wanting to rent the property in the first place is to see a return on the invest-
ment. One way a manager can help you save money is through established rent collection policies. Proactive policies that include penalties help minimize late rent payments. And, if the tenant doesn’t pay, professional managers know how to use the lease—the tool for managing property—to begin termination of the tenant’s agreement and, if required, to start the process for taking possession through the courts. Property managers relieve owners of the concerns of rent collection and minimize the headaches with tenants that are not in compliance. Money is also a concern when maintaining the property. For maintenance issues, many managers Homesteader 2011
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