Private Owner vs. Property Management Company
Renters can encounter two different types of landlords when searching for a place to call home. One is the private owner of a residential structure and could be an individual, a group of partners or even a government agency. The other is a property management company.
In some cases, a property management company acts as a landlord on behalf of the private owner. The duties of the property management company can include:
- The application process
- Executing the lease
- Collecting fees, deposit and rent
- Handling tenant concerns
- Resolving maintenance issues
- Handling delinquency notices and court procedures
- Unit turnover
Property management can vary widely between private owners and companies, so there is no absolute answer on which is better for a renter. However, there are certain things that can be considered when looking for a new place to call home.
Length of lease
A private landlord may be more flexible in negotiating the terms of your lease agreement. Management companies are typically restricted to established lease terms and often cannot grant waivers.
Background check
A management company will usually conduct a full background check. Some private landlords don’t have the resources or desire to invest the funds in this step.
Knowledge of the laws
The Virginia Residential Landlord and Tenant Act (VRLTA) sets mandates for the owners of multiple rental properties and their agents. Property management companies likely have a good knowledge of the law, while eligible private landlords may have opted out from following the VRLTA.
Concerns and complaints
The timeliness for addressing concerns and complaints can vary with private landlords and management companies alike. Local private landlords may be easy to reach while those out of the area may not be as readily available. Management companies keep regular office hours and often have an emergency contact number.
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