If you have investment property, then naturally you want to maximize the profit from this investment as well as increase the value of the property. However, hiring a property manager may seem expensive and counter-intuitive to maximizing your profits. Below we will discuss reasons why you should hire a property manager.
- It’s all about the money
What value does a property manager bring to the table? This is a common question with owners. What many people do not realize is that in the long term you will actually make money because of the increased care of the property. A good property manager will ensure better quality tenants which means less damage and repairs to the property which results in money in your pocket. Repainting an entire house or replacing flooring can be expensive which may be required if the tenant is hard on the property, however a good property manager will try to minimize this risk by allowing only the best tenants to rent the property.
- You Have Better Things to do with Your Time
Do you have time to keep track of rent payments, collect late fees, deal with tenant complaints, coordinate repairs, prep the property for new tenants and deal with problem tenants? If that sounds like a full time job, then you are correct! Hiring a property manager takes all of these things off your plate so you can benefit from the investment without sacrificing your time. Time is money, hiring a property manager will allow you to maximize your profits yet not eat up all of your spare time.
- Better Tenants
An experienced property manager will know how to find the best tenants which as we discussed above can save you headaches and repairs in the long run. A bad tenant can quickly incur thousands of dollars in repairs that the landlord will be responsible for remedying. A property manager who can fill your properties with good tenants will be worth their weight in gold to you, the landlord.
- How Well Do you Know the Law?
Property managers are well versed in landlord/tenant laws, which is a big advantage to you, the owner, who wants to avoid legal troubles. Property managers will have a full understanding of the laws when it comes to screening and selecting tenants and if necessary, the eviction process. The eviction process can be lengthy and complicated; a property manager can navigate the process for you ensuring the tenant is evicted legally which will protect the property owner.
- Buffer Zone
Having a property manager keeps a professional distance between landlords and tenants. Often when a landlord is also the property manager, they become personally involved which can result in leniency or defensiveness when it comes to problems. A property manager will be able to keep things professional while ensuring the rules are followed.
Visit https://billchancerealty.com/property-management/ to learn more about the services we offer our clients or call us at 539-343-7085 to schedule a consultation today!
This Post Has 16 Comments
I like what you said about using a property manager since they will be able to find the best tenants to take care of your property. My brother has been telling me about how he wants to move into a new house, and he wants to rent out his old one to get a little extra income. I’ll share this information with him so that he can look into his options for property managers who can help him with this.
I liked that you mentioned a professional property management company will help you to screen good tenants for your rental property. My mother is thinking about renting out one of her properties, and we are looking for advice to help her. I will let her know about the benefits of hiring a property management company to provide better tenants.
I like what you said about hiring a manager since they’ll be able to care for your property and make you money. My brother has been telling me about how he wants to make sure that his old house is properly cared for in the coming year. I’ll share this information with him so that he can look into his options for property managers.
I really loved that you said that in the long term you would be able to make more money if you hire a manager since the property will increase in value due to its care and less damage. I have a brother that has been trying to invest in real estate and rent it out to college students in his area, but he is a businessman who travels a lot. he should consider reading this article and looking for a property management service that could help him out.
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I really liked it when you said that hiring a property manager is a good idea because they have contacts with all possible contractors so that when the tenants call in the middle of the night, there won’t be a problem. We are planning to start an apartment rental business, and I am seriously considering hiring a property manager. After all, aside from the builder that we will hire, I do not think any of us knows any other contractor to seek help from.
your article shows me the right way to choose the perfect property manager for my property. for you awosome post I really want to thank you. you shows me the correct path.
My mom is thinking about buying a bunch of properties so that she can rent them out to others and earn some extra money. It could be really useful for her to get some help from a professional to manage the places and keep them clean. I really liked what you said about how they should be sure to navigate the laws for her and make sure that everything is done legally.
It made sense when you said that using property management services takes responsibilities off of our plate so our spare time won’t be affected. In my opinion, this would be especially beneficial if something time-consuming happens on the rental property. such as a crime or the development of a drug lab. I didn’t really understand all of the benefits of hiring a property manager before reading your article, so I’m glad I took the time to read it!
I like how you said that you can get better quality tenants if you have a good property manager. I have always wanted to invest in real estate but I don’t want to have to deal with annoying tenants. I think if I do get some property then I will hire a property manager to handle the tenants and get some quality ones.
My parents are looking to hire a property management company to rent out their property to get some extra income. It’s great that you can make more money long-term when hiring a property management service since the place will be taken care of more and have quality tenants. I’ll let them know about this and hope they can find a professional to help them rent it out soon.
I loved how you mentioned that you can find the best tenants with a property manager. My brother just recently started running an apartment building, and he was wondering if hiring one to help him out would be beneficial. I’ll make sure to pass this information along to him so that he can know the benefits of hiring a property manager!
What you said about how property managers can help owners avoid legal troubles was really interesting to me. With that in mind, my brother wants to buy a couple of vacation homes in his local area so that he can rent them out to tourists who are visiting the area. It seems like it would be a good idea for him to hire a property manager so that he can get some help since he is a pretty busy person.
I like what you said about hiring a property manager, indeed, it can help a lot. Thank you for this well-detailed article.
It’s good to know that one of the benefits of hiring a property manager is they could provide better tenants for your properties, which would save you headaches and money. My husband and I plan to remodel the commercial building we bought downtown into an apartment complex. Once the construction is finished, I’ll suggest we hire a property manager for the building. Thanks.
I was not aware that hiring a property management company will ensure to find quality tenants for your property. We have been thinking about renting out one of our properties, and we are looking for advice about what to do. I will make sure to contact a property management company to help us.