Maintaining your rental property is becoming more and more of a headache. You don’t have the time with all of your other responsibilities and your tenants are getting angry and refusing to pay rent. Your significant other suggests hiring a property management company, but that’s expensive, correct? Not so much. And, here are nine other reasons why its worth the investment anyway.
- You Get Your Time Back
When you hire management to take care of your rentals you get your life back. These people are there to handle everything so you don’t have to worry anymore. Sounds great, doesn’t it?
- Researching Rents
A property management company is responsible for renting out your investment and part of that is offering competitive yet profitable rates. They will get you the best monthly lease payments for your rental.
Once they’ve determined the best rent, it’s also the manager’s responsibility to advertise the rental and get it filled, which leads you to advantage number 4.
- Screening Tenants
A good property management company will have a set rental application process in place to screen out the bad seeds and plant the good ones in your space.
- Collecting Rent
Once the property is rented, it’s the manager’s responsibility to make certain rent is paid monthly. No more chasing after people yourself.
Keeping your space tenant-friendly is another thing your management company will cover, including fielding and then handling all maintenance requests.
- Tenant Maintenance
Alongside keeping the building and land maintained, your manager will also deal with unruly or difficult tenants. No more wild parties and police calls in the middle of the night.
In order to rent legally, you must keep all buildings and land in compliance with local, state, and federal regulations. Guess what? That’s now your property manager’s responsibility.
- Safety and Security
If you hire someone to remain onsite, you’ve just given yourself the safety and security of having your property under 24-hour surveillance, if you will. Not to mention rates for onsite managers are less.
Property management companies are there to manage your leasing, so if your real estate holdings are getting out of hand, it would behoove you to hire someone to help. These professionals understand all it takes to handle real estate, which ensures that you will receive the most out of your investment. And now that you have all that free time, you can use your leasing gains to take that perfect vacation you’ve always dreamt of.