Alex Meskouris is the owner and operator of AMPM Property Group, a large management group that oversees a variety of apartment complexes, condominiums, and townhome communities. In the following article, Mr. Meskouris discusses below how tenants can benefit from having a management company oversee their building, from repairs, to security and everything in between.
Property management companies work as the middlemen between landlords and tenants, helping to negotiate leases, manage repairs and maintenance, and resolve disputes between residents and their landlords. This often means that tenants can have issues resolved quickly and without having to go through their landlords directly explains Alex Meskouris of AMPM Property Group.
In addition, property management companies often have access to a network of contractors and vendors who can provide tenants with discounts on repairs and services. All-in-all, tenants living in buildings maintained by property management companies generally feel happy with their services and report overwhelming satisfaction.
What Property Management Companies are Expected to Do for Tenants
Although property management companies technically work for a building’s landlord, their daily responsibilities generally revolve around serving the needs of tenants explains Alex Meskouris of AMPM Property Group. These responsibilities might include:
- Negotiating and renewing leases
- Collecting rent
- Handling maintenance and repair requests
- Resolving disputes between tenants and landlords
- Enforcing building rules and regulations
- Inspecting units
- Showing units to prospective tenants
- Keeping accurate records
- Maintaining the property website and marketing units
By taking on these responsibilities, a property management company acts as the main contact point for tenants with complaints, issues, damages, or inquiries. Therefore, a tenant is more likely to interface with a management company than their landlord and it falls on the management company to guarantee tenant satisfaction according to Alex Meskouris of AMPM Property Group.
Benefits of Living in a Building Maintained by a Property Management Company
Alex Meskouris of AMPM Property Group says that tenants in buildings run by a professional property management company often enjoy a number of advantages and benefits not experienced in landlord-run residences. Some of the most common benefits reported by tenants include:
- Faster Resolution of Maintenance and Repair Issues: Maintenance and repair requests are resolved more quickly than those who have to go through their landlords directly. This is because management companies have a network of contractors and vendors who can be called upon to resolve issues quickly and efficiently says Alex Meskouris.
- Improved Communication: Tenants who live in a managed building often find that communication between themselves and their landlord improves. This is because management companies act as a buffer between the two parties, relaying messages and ensuring that both the tenant and landlord are kept up to date on any relevant information says Alex Meskouris of AMPM Property Group.
- Increased sense of security: Tenants often feel a greater sense of security than those in buildings without a management company. Alex Meskouris explains that this is because management companies typically have procedures and policies in place to ensure the safety of tenants, such as conducting background checks on new tenants and having a security system in place.
- Discounts on Services and Repairs: Property management companies often have access to discounts on services and repairs that they can pass on to tenants. This can result in significant savings for tenants who need to use these services reports Alex Alex Meskouris.
- Greater sense of community: Tenants in buildings managed by a property management company often report feeling a greater sense of community than those in buildings without a management company. This is because management companies often host social events and gatherings for tenants, which helps to foster a sense of camaraderie and community.
Of course, tenants are expected to pay a small maintenance fee to cover the costs of working with a property management company, but AMPM Property Group reports most tenants surveyed feel that it’s worth the added expense.
The Majority of Tenants are Satisfied with Their Property Managers
Overall, the majority of tenants seem satisfied with the services provided by their property managers. A recent survey conducted in 2021 found that 72% of renters were happy with their property management company, although the same survey did find that fewer tenants were less likely to recommend their management companies to a friend.
Nonetheless, the vast majority of tenants seem to feel that property management companies provide a valuable service and that they are generally happy with the job they do. Alex Meskouris reports the survey found that the most successful management companies provided:
- Kind and friendly customer service
- Easy and quick communication with tenants
- Flexible costs and payment schedules
- Quality maintenance
Even if major metropolises, where buildings are often larger and harder to maintain, the survey found that tenants were mostly satisfied and likely to recommend their property managers to others.
The Bottom Line
Although property management companies work for landlords, their services are designed to benefit tenants. Alex Meskouris of AMPM Property Group says that by offering a clear line of communication, management teams can negotiate issues, quickly make repairs, and guarantee tenant satisfaction. As recent surveys show, most people are satisfied with these services and happy to pay for the added care.
