I suggest that all property management companies verify who is on title of each new account. This is an insurance policy for the property manager for a couple of reasons.
First, you will know that the person signing the agreement is the owner. There are scams out there where people obtain the keys of a vacant house and rent the home out to an unsuspecting tenant. Taken one step further, this could be done via a property manager.
Second, there may be a trust or other type of ownership holding title. In that case the property manager should obtrain documentation on why the person signing the agreement has authority to do so.
So checking the title and keeping a copy will give the property manager and the tenants they place in the property peace of mind.
Homes for Rent in greater Sacramento area.
Robert A. Machado, CPM, MPM
HomePointe Property Management
Sacramento, Yolo, El Dorado, and Place Counties
We manage residential and commercial property.
916-429-1205 x 105
rmachado@HomePointe.com
For those of us in real estate, I always verify ownership before signing a listing. It's just good practice.
Yes, for both of us not knowing could cause a lot of problems.
Not that you mention it, our current property managers never verified that we own our units! Good thing we are honest!
Team: You may not know that a verification took place. At HomePointe we run a report on ownership via MLS and verify that way. If a question comes up we contact our client. But, if the names on our property management contract match the title report, we just keep it in the file and don't bother the owner.
I check city/county tax assessor records AND MLS data for ownership and listing history since I prepare a written management proposal if I really want the property for management. I need to know the owners for the management agreement and if they decide to put it in an LLC, I need that ownership transfer document.
If a client prospect caller won't give me the address of their property, I suggest they call another property manager - either they don't own the property YET or it is in an undesirable area and I don't want to manage it anyway.
I am looking for a rental property and would like to know how a renter can verify ownership of a property? Is this public information, or do I need to be involved with a property management company?
Ownership is public information and can be verified with the county or via a title company or online.