If you own one or more rental properties, you have probably heard of property management companies. But do you know what these companies actually do? Would hiring one benefit you as an investor?
Obviously, we think the answer is yes. But don’t just take our word for it! We’ve broken down the different jobs of a property management company, to give you a good look into what having one could do for your properties, your sanity, and your cash flow. Take a look.
Marketing your rental property can be very tricky. Where is the best place to post your ad? Is anyone actually going to see it? How can you be sure that the right people will see it? Making sure your property is not only marketed, but marketed well, can have a big impact on your success as an investor. Property management companies have had a lot of experience in the area, and know how to best get your property in front of the right people, to fill vacancies quickly.
Even if you really like your tenants, it’s definitely nice to be able to hand off the reins of tenant management to someone else. Property management companies can handle communications with your tenant, from scheduling showings, to maintenance requests, to complaints about the property. While it’s definitely important for you to form some kind of relationship with your tenants, you shouldn’t have to answer the everyday complaints and mundane questions they might have. Let a property management company do that instead!
If you don’t stay on top of your renters for their monthly payments…well, you might not get paid on time. However, it’s true that it can get pretty awkward to feel like you’re constantly chasing after someone to give you money. A property management company can take care of all of that—including late fees—so that it never gets personal and you stay ahead of the problem. A property management company may even be able to help you determine how much to charge for rent (which is always a good thing to get right!).
Part of home/property ownership is making regular repairs to your property and keeping it well-maintained. Whether it’s an emergency appliance repair or a routine landscaping, managing all of this can become time consuming and annoying. Property management companies know who to work with (and who to avoid) for these types of jobs, and can manage the projects without your help. It’s just one less thing for you to worry about!
It’s every landlord’s worst nightmare, but at least when you use a property management company, it doesn’t have to get awkward or personal. A property management company can handle notifying your tenant of their pending eviction, keeping in mind all the laws pertaining to evictions in your state. This means that your eviction will be handled correctly, and as quickly as possible, with little work to be done on your part.
If you’ve ever been curious about how a property management company might make property ownership a little easier on you, give Real Property Management a call at 480-719-1243. We’d love to chat with you about your specific property, as well as your goals for property ownership and investment. So contact us today for a free management quote; we can’t wait to help you succeed!