5 Reasons You Should Hire a Good Property Manager
Property management protects your investment
Here are some reasons why hiring a good property manager is so important:
1. A Property Manager Will Allow You to Make More Money
Some property owners are afraid to hire a property manager because of the cost involved – not realizing they will actually net more revenue in the long term due to the increased care of the property. You will get quality tenants that remain in the property longer and have less damage and repairs to deal with. Your property remains in great shape.
2. Property Managers Will Save You Lots of Time and Stress
How much time do you devote to be your own landlord? Could you be making better use of your time?
It can be a full-time job to collect rent payments, track late fees, respond to complaints and repairs, "make ready" a property for new tenants, find quality vendors, and deal with poor tenant selections. It may also become a constant source of stress. Relinquishing these ongoing responsibilities to a good property manager can allow you to benefit from your investment without sacrificing your time and health.
3. Quality Tenants due to Thorough Screening and a Larger Pool Of Potential Renters
If you hire a good property manager with hands on experience, they will know exactly how to find quality tenants and screen poor tenant prospects with bad history. Property managers have a larger pool of applicants to choose from since they aggressively market their listings to the public. An established property manager may also have waiting lists of potential tenants. The result provides better quality tenants in less time.
4. Property Managers are familiar with the Law
As the landlord, are you aware of the laws with leasing your property?
One of the biggest advantages to hiring a professional property manager is the ability to avoid some legal hassles. With a full understanding of all the state and federal laws when it comes to discrimination in screening and selecting tenants, property managers avoid breaking discrimination laws. In the event that an eviction becomes necessary, an experienced property manager will know how to handle the process that will save time and money while staying within the boundaries of the law.
5. Property Managers Serve As a Buffer Between Owners and Tenants
When using a property management company, an owner is able to be "hands off" with their tenants. As a property owner, being involved in the day to day activities may result in being too lenient on certain issues or too defensive about some complaints. Property rentals is a business and it is much easier for a good property manager to manage the property on a strictly professional level. When issues arise, a professional property manager is better equipped to handle issues effectively.