5 Reasons to Hire a Property Manager
Owning rental property can be a great investment, but it also requires lots of elbow grease. Because not all investment property owners have the time for the hard work that goes along with owning rental units, hiring a property manager to deal with it all can be a smart move. A rundown of the top five reasons to consider hiring a property manager can help you weigh the merits of going the property management route for your investment property.
Property Managers Keep Units Full
You can’t make money on investment properties if you don’t have tenants living in them. A savvy property manager works hard to keep vacant properties to a minimum, so you get maximum ROI for every unit.
Property Managers Screen Tenants
Getting the wrong tenant in a unit is almost as bad as not having a tenant at all. Property managers are well-versed in the art of screening out the bad apples so your tenants are more likely to pay their rent on time, keep the unit in good shape, and not cause problems with their neighbors. Retaining tenants reduces the turnover costs associated with owning rental property.
Property Managers Direct All Maintenance Needs
An investment property requires ongoing maintenance to hold its value. Smart property managers head off any potential problems from the get-go, thanks to their affiliation with maintenance personnel or service professionals for all potential problems.
Property Managers Handle Evictions
It’s never pleasant to evict a tenant. Property managers handle all aspects of evictions, from filing paperwork to attending hearings.
Property Managers Help You Preserve Your Most Valuable Asset: Your Time
And finally, the time saved by using a property manager is priceless. Time truly is the one commodity that can’t be bought. For this reason, it’s the most valuable. A property manager handles most aspects of your rental property, from handling calls and marketing to collecting rent, so you can spend your time doing other things.