Whether you have one, two, or ten rental properties, you might want to consider hiring a reputable property management company. Sure, it is another expense for your records, but many people usually find that the benefits outweigh the cost. Take a moment to review the following benefits so you can know just how you and your rental business may benefit:
Shows Available Properties
Showing properties that are available for rent can be tedious, especially since not every showing will result in a rental agreement. Your property manager can field all of the calls about the available properties, schedule showings, collect initial payments, and get the lease agreement signed for you.
Ease Of Collecting Rent
The best scenario is that all of your tenants will send their rent payments on time without being prompted to do so. However, there is bound to be the occasional late payment. Those can be difficult to handle, especially if you have a soft heart when it comes to hearing about people's personal struggles. You might find that having a property manager to contact tenants about their late payments, as well as any late charges, to be a lot less stressful for you.
Serves Eviction Notices
When tenants break their rental agreement and fail to make any attempt to rectify the situation, you must evict them. This means drawing up the proper paperwork that will be served to them directly. Then, after a set number of days set by your state laws, your property manager can then file an eviction notice through the local courts. You might even have your property manager represent you in court, which will free up a lot of your time.
Hires Contractors
Over time, there is bound to be some repairs that will have to be made to your rental properties. Depending on the need of the property, you might need to hire a plumber, electrician, roofer, or general contractor. It can be time consuming to research the local repairman and technicians.
Once you find some ones that are qualified enough for the job, you have to schedule appointments to get the work done. Again, this is something that you can have your property manager handle for you.
As you can see, there are many benefits to having a property management company for your rental properties. All you will have to do is sit back and collect the profits from your investments. Just make sure that you are getting a clear and concise contract with the property management company so you are fully aware of what you can and cannot expect from their services.
Share20 May 2015
Apartment living can be a trial sometimes. Even the best apartment complexes can have problems, such as noisy neighbors. I experienced this firsthand with my newest neighbors. Between their partying and trashy existence, I was ready to go crazy. Late one night when they were being particularly noisy, I started researching my rights as a tenant. I found out I did not have to live with their inconsiderate behavior. As a public service, I decided to help others through this blog with their neighbor problems. Whether you are dealing with a landlord that will not do any repairs or bad neighbors, I can help.