You own a rental property and you have a dilemma: Do I really want to be doing this? Should I be doing this?
There are many questions that may arise when considering property management. Here are a few deciding factors we believe will help you make up your mind.
- Tenant Retention:
In an under-employed economic work force, renting to the right tenant that will stay for the desired term, and pay their rent on time, is challenging. Relying on a good property management company’s proprietary selection process will benefit your net income over the long term. Make sure you choose a property manager who performs full background checks, verifies employment, and interviews the prospective tenants to select the top candidate.
- Mitigate property damage and deferred maintenance.
Ideally, a good tenant will pay their rent on time and complain about maintenance very little. However, this could lead to major repairs after years of neglect. A little leak could turn into wet rot, mold, or even worse. Make sure your tenants understand to report all issues and those issues will be logged and effectively dealt with immediately. This will reduce your costs and net you more over time.
- Up- to- date with latest Landlord-Tenant Laws
At times, legal action is required to remedy unruly tenants. Proper notice and documentation is extremely important. If you do not give notice with proper paperwork, delivery, and in the legal time frames, you could lose precious time. And time equals money. A 90-day eviction could become a 180 day nightmare with excessive monetary loss.
- Relieve tension and stress from Owner/Investor
Owning an investment property can be a time-consuming venture. Especially when dealing with tenants’ every day needs. Everyone experiences hardships — owners and tenants alike, but dealing with other people’s problems as well as one’s own can sometimes be too much. Good property managers will be the buffer between tenant and landlord. Those late night phone calls to change out a water heater can ruin an entire weekend for both landlord and tenant. A worthwhile property management company is armed with the resources to take quick action. Make sure your property manager is available 24 hours a day and 7 days a week.
- Increase the value of your investment
With proper maintenance and supervision, your apartment building, commercial building or small residential building can be an invaluable asset.. While the day-to-day issues can add up to a lot of money over time. Save yourself stress, money and time by choosing a property management company that is fast to react, address a problem efficiently, and takes accountability for the value of your investment.
Call Us today to see how we can help you: 1-800-905-1009