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Helen Marotto, Realtor from our Hampstead office was interviewed with Lumina News. Mrs. Marotto was recognized for her volunteer work with the Cape Fear Guardian Ad Litem Association. To read the article by Brian Freskos click here.

Client Loyalties in Property Management
by Martin Evans

Having been in the business of managing other people’s real estate for the last few years, it has become obvious that many property management companies are out of touch with their fiduciary responsibilities.

The complication begins when the property manager, when faced with a vacant property must entice, and offer service to a prospective tenant in order to get them to sign on the dotted line, all the while having the best interests of the landlord. This creates a false sense of loyalty with the tenant, who then thinks that the manager is on ‘their side’. The manager is then quietly faced with the dilemma of keeping both parties happy, making sure rent is paid on time, or late fees collected etc all the while smiling at the tenant and fanning the landlord. This is a delicate dance, and most often it is performed with few missteps. However, once the tenant decides to move on, the agent is tasked with inspecting and penalizing the tenant who may have left the property in not quite the same condition as when they took it, or may not have paid all the rent on time. The landlord, who is surely the receiver of the damages then takes it out on the manager, and the tenant is now gone, and onto another property somewhere most often out of the local area.

What should be more common up front is the notion that the tenant should feel ‘priveliged’ to be accepted into the landlords’ property, and that the manager has ONLY the landlords best interests in mind.

After all there is no contract between the tenant and the manager, but a multi paged very detailed contract between the property owner and the Management Company. With this fiduciary responsibility spelled out clearly ahead of time, all parties are informed. The landlord knows where they stand and what to expect, and the tenant might be more likely to avoid the games played to get what they want out of the manager.

Martin Evans
President / CEO
EXIT Homeplace Realty
EXIT Realty Sales & Rentals