Landlords wear many hats, and while owning rental property comes with numerous benefits, it can also turn troublesome and eat up your precious time and money. Here are 5 great reasons why you should consider hiring a professional property manager to take the hassle out of being a landlord:
It frees up your time. Owning a rental property requires work and time…time that you may not have. Do you want to deal with plumbing issues or 2a.m. calls to fix something that’s broken? Hmmm. A professional property manager takes care of all of that for you. You won’t have to get involved because you’ve hired someone to do the work for you. With your freed-up time you can look for more potential investments.
Get the maximum rental rate, on time. Setting the right rental amount can be tough especially if you’re not familiar with the area. A professional property manager knows what the going rate is and will make sure your investment is on par with others. He or she will not only make sure you get fair value, but will make sure you get good tenants who pay on time. Good professional property managers should be able to collect rent electronically and have it deposited into their accounts avoiding the “check is in the mail” runaround.
It enables you to invest in geographically distant properties. If you live more than two hours away from your rental property, you may not have the time or knowledge it takes to find good tenants. Having a property manager who knows the area will allow you to spread your investment wings and fly to places that would be otherwise unattainable.
Access to marketing and advertising knowledge. When you have a great property you want to make sure it gets the exposure needed to get great tenants. A property manager will have the expertise needed to get your property seen and ultimately rented. He or she will know where to post your listing and will use just the right words to pique potential renters’ interest.
Get expertise in finding the right tenants. Finding the right tenants means everything from finding someone financially responsible to someone who is less likely to cause problems. A property manager can perform the legal tenant screenings that include a criminal background check, employment verification, as well as a credit check. Professional property management firms also have access to resources that the average person does not have.
Hiring a professional property manager is a great way to take control of your investment property and your future.