7 Reasons Why A Property Management Company Will Make Your Life Better
From handling the day-to-day running of your property to dealing with any concerns that may arise during a tenant’s stay, keeping up with your rental property can place additional strain on an already difficult endeavor.
Managing a rental property can be stressful and overwhelming!
Hiring a property management service is one way to take a daunting situation, like renting your home, and turn it into a positive experience. Take a look at the following benefits of hiring a property management service.
#1- Advertising/Marketing help
There are various ways to market and advertise your rental property. A property management service is able to create a multidimensional advertisement plan that takes into consideration: online marketing, word of mouth, and other more traditional avenues to advertise your rental property. A property management service will be able to find and place a high-quality renter into your home quickly because they understand what avenue works best when it comes to advertising and marketing.
#2-Higher quality tenants
Many property management services are skilled at screening potential renters. Their years of successful experience in vetting applicants results in better tenants that are reliable and a good fit for your home. From background checks to contacting previous landlords, they make sure to verify that each person entering your home is the best renter possible and the right fit.
This screening process also places an individual in your home who will 1) pay rent on time 2) rent longer 3) respect your home (home care and maintenance) and 4) provide you with a positive tenant experience with fewer problems overall.
#3-Less legal issues
Legal issues can cause significant stress and headaches for even a veteran landlord. When you hire a property management service, they will have a wealth of knowledge in regards to landlord-tenant laws in your area. The management service will also help you if any legal issue becomes a potential lawsuit. Avoiding this type of situation is best practice, but all property management services are equipped with people who can assist if any problems were to arise.
#4- Help with home maintenance
Your home will always need maintenance! When you hire a property management service, they do the maintenance for you and make sure that your home is in peak condition. By hiring licensed and experienced contractors to complete both interior and exterior maintenance, a property management service knows the best individuals to do the job and are capable of supervising the entire process.
#5-Better tenant retention and management of renters
A property management company has policies in place that ensure that you and your tenants are happy and taken care of each step of the way. With this positive renting environment comes the retention of quality tenants. When a property management company is there to manage the daily issues and concerns, the homeowner and renter feel like their needs are taken care of, and everyone in the equation feels like they are a winner!
#6-Rent collection becomes a non-issue
If you have a property management service collecting rent, you place a buffer between you and the tenant. Often, how you handle rent collection can be the difference between a good landlord and a landlord that fails. By hiring a property management company, you eliminate excuses, chasing down a tenant, and evicting someone over rent.
#7- Personal benefit to the owner
There are also personal benefits to hiring a property management service:
- Less stress- With a property management service, you can avoid having to deal with maintenance issues, hunting down tenants to pay the rent, paperwork, and evicting people from your property. You will in-turn spend less time worrying about your rental property and more time enjoying life.
- More freedom- When you hire a property management company, you don’t have to be on call every day and night to deal with concerns of the tenant. With this freedom comes the ability to travel and potentially live in a different area than your investment property.
- Time is no longer an issue- When someone else is managing your rental property, you have more time to spend with friends and family. Time is money, and your time needs to be spent doing the things you love.
Other Things To Read
If you still have some questions about a property management service, here are a few blogs that may interest you:
- What is a Property Management Service?
- Questions to ask a property management service
- Do I need a property management service?
For More Information
If you live in the Raleigh area and are interested in a property management company, take a look at Oak City Properties! We provide services to help investors, homeowners, and landlords. Feel free to give us a call (919)-232-9222 or check out our property management options.