Are you unsure whether to outsource the management of your rental properties to a property management company or not? If that’s you, let us help you make up your mind by giving you 5 benefits of using a property management company. Check them out below!
Proper Screening of Tenants
A property management company knows their job very well and based on their experience, they’d be able to spot possible red flags on tenant applications. This will vastly increase the chance of you getting reliable tenants. As a landlord or property owner, who isn’t very well versed screening tenants, you’re risking renting your property to tenants who may end up giving you headaches in the near future.
Point of Contact for Tenant Concerns
Dealing with tenant concerns, such as repairs and maintenance, is one of the main responsibilities of a property manager. It can definitely be a major headache, especially when you consider that issues can arise at any time, day or night. This is even harder if you live far from your rental property. By hiring a property management company, you are freeing yourself from the rush and hassle of getting a service provider to take care of the problem. Also, if you ever have a tenant who seems to always have some concern or issue that requires continual attention, you need not deal with him/her, as your property manager is there to save you from the stress.
Keeping your property filled with tenants.
A quality property management company can ensure your tenants are always happy and satisfied. Since it’s their forte, they ensure that all problems are attended to as they arise. Happy tenants are less likely to find another dwelling. In addition, happy tenants are also more accommodating when it comes to rent increases that are of course, reasonable.
Collecting rents and ensuring they are paid on time.
Rent collection sounds easy but may sometimes be a pain. By hiring a property manager, you are saving yourself from the stress. You can also rest assured that they are collecting on time.
This is due to the fact that a property management company usually deducts their fees from collected rent and of course, they’d want to claim their fees as soon as possible. Moreover, in cases where rent isn’t collected when due, the property management company will also be the one to reinforce the terms of the agreement. And for consistent problems on rent collection, they’ll also be the one to take the necessary steps to handle the situation.
Less Rental Property Issues
Hiring a property management company has proven to lessen complications and issues with your rental property since good managers know how to deal with almost everything. Even if issues arise, they are resolved before your very eyes, so you can sit back, relax and wait for the returns on your investment.
So, is hiring a property management company worth it? Indeed.
Continental Realty is a 3rd generation, family-owned and operated property management company located in Birmingham, Alabama.
