Benefits of Using a Property Management Company
Are you a hands-on landlord, or would you prefer to avoid weekend maintenance calls or monthly rental income and expense management? If you’d rather have someone else handle the details, hiring a property management company to manage your real estate investment might be the right choice for you. Yes, they’ll take a cut of your rental revenue, but they can also help streamline your business and free up your time.
Here are 5 benefits a property management company can provide.
Screening out problem tenants
Experienced property managers see hundreds to thousands of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork. Letting them manage the tenant screening process can improve your chances of landing a reliable tenant.
Acting as the point of contact for tenant concerns
If something breaks at your property, it’s not always convenient or possible to drive over to the unit to inspect it yourself (especially if it’s in another town or state). A property manager can address problems at all hours of the day and arrange for a service provider to repair or replace the item.
Decreasing tenant turnover
Good property management companies know how to keep their renters happy. They are responsive, available and take care of problems as they arise.
Ensuring rent is paid on time
Consistent rent collection is the key to receiving rent payments on time, and a property management company will enforce lease policies if payments aren’t received. If tenants are consistently failing to pay their rent on time (or at all), the property manager will know the proper steps to deal with the situation.
Reducing your rental headaches
If someone else is handling the daily management of your rental property and tenants, you’ll have fewer complications and commitments to worry about. If more time and less stress are key to your quality of life, a property management company can be a great asset.
Here are 5 benefits a property management company can provide.
Screening out problem tenants
Experienced property managers see hundreds to thousands of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork. Letting them manage the tenant screening process can improve your chances of landing a reliable tenant.
Acting as the point of contact for tenant concerns
If something breaks at your property, it’s not always convenient or possible to drive over to the unit to inspect it yourself (especially if it’s in another town or state). A property manager can address problems at all hours of the day and arrange for a service provider to repair or replace the item.
Decreasing tenant turnover
Good property management companies know how to keep their renters happy. They are responsive, available and take care of problems as they arise.
Ensuring rent is paid on time
Consistent rent collection is the key to receiving rent payments on time, and a property management company will enforce lease policies if payments aren’t received. If tenants are consistently failing to pay their rent on time (or at all), the property manager will know the proper steps to deal with the situation.
Reducing your rental headaches
If someone else is handling the daily management of your rental property and tenants, you’ll have fewer complications and commitments to worry about. If more time and less stress are key to your quality of life, a property management company can be a great asset.
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