13 Jul Advantages of Utilizing a Property Management Company
Having a rental property that brings in extra income can be nice. But what about the things that need fixing, how to market your rental, and the constant upkeep? These things can be handled by using a property manager, such as Sound Choice Real Estate. Here are just some of the things a property manager can do for you…
1. Evaluate all renters
One of the main advantages of property management is that they will evaluate all possible tenants. These Niceville or Destin managers are used to seeing hundreds of applications so they have the ability to spot red flags much more easily when going over the paperwork. They are looking for tenants who will pay rent on time and treat your property with care. By using a property manager to evaluate tenants, you can boost your chances of gaining a trustworthy renter.
2. Handle renter concerns
Say something breaks at the property or needs to be repaired and you’re out of town, in a meeting, or fixed for time – this is when a property manager would come in handy. They can handle these concerns and attend to them at all hours of the day or night and make arrangements for the repairs. Or maybe you have a renter who seems to always find something to complain about. This renter would now be in contact with your property manager and you can rest easy.
3. Advertise your property
An experienced property manager has personally shown many homes, has taken numerous photos, written countless rental ads – and they are good at it! They also know how to price your rental competitively in the area where your rental is located. Employing a skilled property manager gives you the ability to occupy your rental quickly instead of allowing it to sit on the market for long periods of time.
4. Less renter turnover
Professional property managers know what it takes to keep the tenants happy. They are active and accessible, and they are quick to handle issues when they arise. A happy renter is more likely to tolerate an increase in rent. A happy tenant is also less likely to look for a new place to rent when their lease is up.
5. Make sure rent is on time
A good property management company knows how to deal with rental payments. They commonly deduct a fee from the amount of the monthly rent, so managers are inclined to keep rental payments from being late. They are knowledgeable with lease policies and know how to administer them. Property managers also are experienced with carrying out eviction notices if unavoidable.
6. Prevent possible legal matters
Landlord-tenant and fair housing laws are both incredibly understood by professional property managers. This can help you in the long run by preventing possible legal issues, which in turn would save you money and time. Property management companies also commonly handle any lawyer fees that occur with an eviction or property damages. If you don’t think you can handle collecting rent and security deposits, conduct evictions, and terminate leases, a property management company can handle these things for you.
7. Saves money on repairs
Property managers normally work with routine service providers to handle upkeep services on properties. These providers perform maintenance regularly and will often cut down on major issues because they replace or repair them before they turn into a larger issue. This in turn, saves money in the long run.
8. Cuts down on your property troubles
Fewer property responsibilities, fewer tenant problems, fewer things to worry about, those are all fewer things you would have on your plate if you utilized a property management company. If the tenant or property responsibilities, problems, and worries are causing you more stress and draining your time, a property management company can become an incredible resource.
Day in and day out management of properties isn’t for everyone. If your rental property is putting extra money in your pocket but is also adding extra stress and draining your time, it’s time to look at all the advantages and benefits that come when you hire a property management company.
Want Sound Choice to Manage Your Gulf Coast Property?
Sound Choice offers full-service property management in Niceville, Destin, Crestview, Fort Walton Beach and the surrounding areas.