Owning property typically involves the largest asset (or assets) a person will acquire in their lifetime. Often times, people look at rental properties as a way to secure additional income or build wealth for retirement. Although this is true, being a landlord is no easy venture and the workload is not one everyone can take on.
In today’s world, people are constantly on the move and things aren’t as simple as they used to be. There just isn’t enough time in the day for many landlords to manage their properties effectively if they have a full-time job or another business to run. This is where a professional property manager steps in to manage your rental unit for you.
Selecting the right property manager can make all the difference when it comes to the success of your rental property. When you own property you are making a large commitment and having a property manager on your side is a considerable benefit when looking to maximize your property’s return value.
Being a landlord is a constant job and there are no breaks. However, part of a property manager’s job is to be available any time an occurrence might happen; allowing you to rest easily at night. Property managers act as the middleman between the tenant and yourself. For instance, if it’s after hours and the tenant calls with a plumbing issue, a property manager must know not only how to stop the problem, but where to find someone to fix it as well. They will likely have someone on call.
Maintenance is a major component to the overall profitability of any investment property. Underestimating maintenance issues can not only be hazardous for a landlord, but costly as well. Anything can happen at any time and a property manager must be able to deal with any emergency that may come up.
Conducting routine property inspections and facilitating all maintenance for the property are all things a property manager can take care of for you. It is the property manager’s job to make sure all work done to your property is completed in a proper manner. Quality property managers will locate and send out trusted vendors when work is required.
If you have a plumbing issue, for example, a property manager will be able to determine if it’s a handyman call or a plumbing call. This is important because while a plumber service fee may be $85, a handyman service fee may only be $55. A property manager will not only know who is right for the job, but which option is most cost effective for the property owner as well.
Deciding to use a property management company can take away many future stresses a property owner will encounter. Whether it’s a maintenance request or a rent payment, a property manager will provide communication and solutions on your behalf, so you don’t have to.
If you have any questions on selecting a quality property management company, feel free to contact us.
