6 Reasons Why You Need to Hire a Property Manager Immediately
December 19, 2017
Property managers are great tools for owners who have a lot of properties to oversee. to spend every second worrying about your property, having someone manage them for you could potentially be a great idea.
Below, are a few reasons a property manager can be your greatest asset in managing your rentals.
1. Determines Property Rental Rates
Property managers can help you determine which rental rates are right for your property by researching the area.
Additionally, property managers are able to:
- Determine whether or not you should allow pets or smoking
- Determine what kind of repairs your property requires
These are included in their job because it affects the rental pricing. However, your property manager can help recommend which upgrades are needed now or in the future to ensure fair rent prices.
2. Takes Care of Property Marketing
Being able to have your rental property properly marketed will help you get the ideal tenants in the shortest amount of time. Your property manager can use marketing tactics, such as buying ad space, to find tenants for your property. Property managers can also take pictures of your property and list them online to potential tenants on Craigslist, Zillow, Trulia, etc.
3. Finds Ideal Tenants
One of the hardest things for landlords to do is find reliable, trustworthy tenants to rent their property. However, with the help of a property manager, you can have someone screen tenants and do a walkthrough of the rental. From there, they can also tell candidates whether they’re approved for the property or not.
4. Oversees Finances and Rent Collection
The property manager is also responsible for collecting rent checks and depositing them into your bank account. They are also responsible for communicating with tenants, handling late and partial payments, and fixing any other issue that may arise. Another part of their job is paying utilities and maintenance bills.
5. Performs Maintenance
Another great reason to hire a property manager is to perform regular maintenance. This is especially important if you do not live near your property. They can do regular maintenance inside and outside your property. If you have a large property, they can also hire a professional crew to handle maintenance tasks. Also, they will deal with maintenance requests from tenants.
6. Handles Moving Out and Evictions
After a tenant moves out, the property manager will perform the walkthrough to look for potential problems and damages. Then, they will deduct repairs that are not qualified as normal wear and tear from the security deposit. They also perform the repairs, clean, and refresh the property for the next resident. The manager will also deal with any evictions and ensure that all laws are being followed.